First, if you’re beginning to feel that your home has been sitting on the market for too long, it’s time to start actively soliciting some feedback. This will come from registered attendees of an open house or visitors who have viewed your home by appointment. More than likely, you’ll want your listing agent to act as the solicitor. Why? Because at least 25% of the feedback given will be personal assaults on your decorating tastes. Another 25% is likely to be purposeless shopper fantasy.

Also, don’t feel like you have to wait to start gathering feedback – this is something you can (and arguably should) start doing from the moment your property is listed.

Second – and you’ve heard this one before – know and analyze the competition. Being familiar with the nearby properties, to which you’re home is being compared, will help you decide what aspects of your property to play up and can ensure that you’ve settled on an appropriate asking price. Take note of how other properties are staged, how their list prices compare to yours and what about it is inviting or unappealing to you.

Finally, because you know that buying a home is often a stressful pursuit, do what you can to simplify things for your buyer. For instance, be flexible on your move-out date. Or, if you know that you’re dealing with a first-time buyer, alleviate some of their worries with a transferable home warranty that ensures they won’t have to worry about potential repairs after the sale. The warranty will cost a few hundred dollars, but is a strong appeal to buyers.

In all of these, remember that your Chicago real estate agent is your partner and, to a large degree, can handle these things for you. But don’t hesitate to be proactive in your home sale – your home and your time are both valuable and it’s worth going the extra mile to get a fair return on your investment.

The post Remember These Unique Tips to Sell Your Home appeared first on Dream Town.

But unless you’ve taken time to heighten your home’s curb appeal, you’re not done yet. No matter how perfect the inside of your home is, if you neglect its exterior appearance, you risk turning buyers off before they ever step inside.

The good news? Upping your Chicago home’s curb appeal requires only a fraction of the effort and cost you spent on the interior. In fact, there are a number of small do-it-yourself projects that can be completed in a couple of days, on a minimal budget. Set aside a weekend, get the whole family involved, and when it’s done you’ll feel like you had a more active role in your home’s improvement.

The first step is to simply stand on the curb and observe your home from the perspective of a potential buyer. What aspects of your home’s exterior immediately stick out as dated or unattractive? Oftentimes you can increase your home’s attractiveness tenfold simply by replacing an old, rusty door or by painting peeling windowsills.

You may find that replacing all visible hardware around the outside of your home will freshen up the overall look a bit. Adding new light fixtures, door knobs, door handles, mailboxes and even address numbers is a great way to update the look of your home.

Adding shutters to bare windows is a quick, inexpensive way to transform the overall look of your home’s exterior. If your window headers are painted with outdated colors, consider covering them up with something warmer. Also, consider adding an unexpected architectural embellishment like a gable pediment or porch brackets and you may increase the intrigue of your home’s exterior.

Even if you don’t want to add new details to your home or replace hardware, make sure, at the very least, that the most visible aspects of your home are well-tended and clean. Patchy, unattractive driveways should be refilled; unruly shrubs and bushes cut back; and gardens tended to. It doesn’t take much to ensure that your home looks good from the curb, but it’s an area that should not be neglected when trying to sell your Chicago home.

The post How to Improve Your Chicago Home’s Curb Appeal appeared first on Dream Town.

While homeowners always hope for a bid that’s close to their original asking price, should dollar amount necessarily be the determining factor in accepting an offer? Though every situation is unique, it may surprise you to learn that homeowners don’t always pursue the highest bid.

Actually, there are several factors – not contingent on price – that will contribute to a homeowner accepting a particular bid.

One such factor is whether the potential buyer is currently renting or owns another home. Renters are great buyer candidates because their purchase isn’t contingent on selling their home. With interest rates at a record low, the Chicago real estate market is flooded with potential buyers, but those without long-term commitments are most likely to close a sale quickly.

Another consideration is whether a homeowner can convince a buyer to close the deal on their timetable. Convincing a buyer to work within the seller’s timeframe shows how serious the buyer is about getting the deal done. The homeowner can have peace of mind that the deal won’t fall through last minute.

A final question to ask is this: “How much cash does the buyer have immediately available for the sale?” With more cash on-hand, the buyer is relying less on financing. This is important because it’s possible that the home can still be appraised for more than is listed on the contract.

In some cases, serious buyers will submit a personal note about themselves with the offer. Sharing personal anecdotes with the seller is a positive way to communicate their desire to purchase the property. This added effort can go a long way in helping a seller make a decision.

Generally speaking, a good offer will have these traits: an offer price no more than 10% below asking price, an attorney-reviewed contingency, a financing contingency and a home inspection contingency. It’s also nice if the deal includes flexible closing terms and excludes bizarre or unusual requests from the buyer.

Chicago homes are moving quickly – when it’s time to sell yours, make sure you seek out the best and most reliable offers.

The post Recognizing the Best Offer for Your Chicago Home appeared first on Dream Town.

Home staging is still a key element to home sales. All the pros recommend staging your house or condo before putting it on the market—and especially before you get the photos taken. An investment of $500 or $1,000 can easily translate to $25,000 more on the selling price.

If you have already moved out of your place, rent furniture to give the space a lived-in, homey feel. Stick to popular furnishing styles, such as West Elm or Ikea—as opposed to a random selection of pieces handed down from relatives.

Window treatments deserve a second look when looking to update your Chicago home for sale. Take down mini-blinds and add a simple valance or curtain to frame the views, not shut them out. Replace old drapes because the fabric can hold odors. Same with old carpeting. Carpet not only retains smells, but allergens, too, such as cat dander and dog fur. For a potential buyer with animal allergies it could be a deal breaker. So pull up the worn-out stuff, particularly if there is wood flooring underneath because today’s buyers prefer hardwood.

Add a fresh coat of paint to the walls and wood trim. It is a simple, inexpensive (yet somewhat labor intensive) improvement that is well-received among buyers. Despite what you’ve heard, you don’t need to go totally neutral with colors. This can actually make your property too cookie-cutter, explains one interior designer consulted for the Tribune article. Instead try some color to give rooms depth, definition and character.

Aside from home staging, homeowners can take courses and read books best practices for selling in 2012. One helpful title to have on hand is “How to Sell Your Home in Any Market: 6 Reasons Why Your Home Isn’t Selling… And What You Can Do to Fix Them,” by Loren Keim. And next month Chicago-area homeowners can take a class at the College of DuPage: “Get It Sold” offered on February 18th. The Internet also provides an excellent resource for DIY home sales tactics. The Tribune suggests checking out thisoldhouse.com for video tutorials.

One of the best things homeowners can do to protect their interests is hire a real estate attorney to assist with the legal aspects of their home sale. The market is unlike any other we’ve seen and there are many complex circumstances to deal with on both the buyer and seller sides nowadays. Having an expert lawyer is an invaluable asset if a sticky situation arises.

The post Selling Your Chicago Home in 2012 appeared first on Dream Town.

The property, which Linton originally purchased in 2007, is on the market for $215,000. He originally put the unit up for sale in late summer but has had no luck selling the place. Mr. Vanderbilt has just recently been appointed the listing agent. He has nearly ten years of real estate experience and earned his broker’s license in 2006.

As a part of Dream Town’s expert sales team, Mr. Vanderbilt has the company’s innovative marketing services and creative sales solutions at his disposal to get Johnson’s condo sold. The Chicago-based brokerage is known for its superior web presence and cutting edge online tools. It also powers dozens of other real estate sites’ property search engines.

Johnson’s Chicago home for sale is located in a high-rise building in the city’s hip River North neighborhood. The area is celebrated for its arts scene, good restaurants and iconic architecture (it’s where you’ll find Chicago’s famous Marina City “Corn Cob” towers, the Wrigley Building and The Trump International Hotel & Tower). Situated just across the Chicago River from the Loop, this part of town is an extension of Chicago’s cultural center and is considered part of the city’s downtown area.

Mr. Vanderbilt’s newest listing has one bedroom, one bathroom and an open floor plan with a walkout balcony. The kitchen features granite countertops and modern amenities. The Chicago Tribune ran a story on the ex-Bulls’ condo for sale on Friday, reporting that the three-room property has a contract pending to sell and was originally bought by Johnson for $382,000 in ’07.

For more information about this Chicago condo for sale, contact Aaron Vanderbilt at 773.681.2748 or aaron@dreamtown.com.

The post Dream Town Agent Lists Ex-Bulls Chicago Condo appeared first on Dream Town.

The fact of the matter is you need to price your home right for it to sell. Real estate experts from across the country agree that this is a huge factor in moving a property off the market. So what is the “right” price? It’s very dependent on your specific market and what other homes in your area of Chicago are selling for.

One of the ways realtors set asking price is to look at the “comps”. Comps or comparables refer to recently-sold listings similar to your property that are located in the same neighborhood or building. These sales tell you what buyers were willing to pay for other Chicago homes like yours. You can also look at active listings in your area, but beware that they are only asking prices and not actual sales prices. Still, it will give you an idea of what the competition is doing. Also, make sure you are focusing on properties that are roughly the same size (with the same number of bedrooms and bathrooms) as your home. Otherwise you will be comparing apples to oranges. You can’t gauge the market for a two-bedroom condo by looking at listings for three-bedroom single-family homes or condos with only one bedroom.

Based on the comps, you can get a general idea of the price range for properties like yours in the current marketplace. You may be able ask a little more if your home is newly remodeled or upgraded. On the flip side, you may have to prepare yourself to ask a little less if your home is outdated or in worse shape than competing listings.

That brings us to the second main sales factor: property condition. The condition of your home directly affects asking price and is a huge decider in whether buyers will even consider viewing your place. Yes, there are some people who want a fixer-upper, but the majority of buyers are looking for real estate that is move-in ready and that doesn’t have any looming home improvement projects. For that reason, your home will sell quicker if it is clean, free of repairs and somewhat updated. That doesn’t necessarily mean you should redo the bathrooms or install new appliances in the kitchen. But it is important to notice what the competition is offering and adjust your price accordingly. If every other comp has stainless steel appliances and granite counters and your home doesn’t, you are probably going to have to set your price a few thousand dollars less to compensate.

One thing today’s home sellers find challenging is the competition of short sale and foreclosure properties. These homes are typically priced lower than traditional listings and can be used by buyers as leverage to offer a lowball bid. But remember, buying a foreclosure is often not the buyers’ ideal situation. They most likely would rather purchase a home from a seller instead of dealing with the uncertainty and prolonged process of buying from the bank not to mention foreclosures can sit vacant and boarded up for long periods of time, allowing the place to fall into disrepair. In your counter negotiations provide a list of ways your home has been regularly maintained and cared for. Chances are your home is in much better condition than a bank-owned property and will be worth more to buyers for that reason.

The length of time a place has been up for sale is also a good indicator of proper pricing. A study of active listings can be helpful to you in this case. Look at the number of days a listing has been on the market lengthy market time can be a sign of overpricing. Use other sellers’ over-estimation of their properties’ values to figure out an appropriate price for your own home.

Also keep in mind that buyers watch for fresh listings like a hawk. Your new listing will likely get the most attention in its first week or two on the market. So, if it’s not priced right in the beginning you stand to miss out on the initial wave of buyer curiosity. This “early market moment” is a very important window of opportunity for today’s listings. Take full advantage of it by properly pricing your home and making sure it’s in good condition from the first day you put that For Sale sign out front.

The post How Price, Property Condition & Market Time Affect Your Sale appeared first on Dream Town.

Home Selling Tip #1
First and foremost, you must price aggressively. This is fairly common knowledge among anyone who is trying to buy or sell a Chicago home in the current real estate market. It can be hard however for a seller to follow suit when the homes you’re competing with are bargain-priced foreclosures and distressed properties. But, if you really want your place to sell, experts suggest you ask for a minimum of 1% below the competition, that is to say, set your list price for at least one percent less than what other homes similar to yours are asking or have sold for.

Home Selling Tip #2
Use the Internet to advertise your listing. In order to get offers you need buyers to know your home is for sale and today the best way to let buyers know about a property is online. Nine out of ten buyers use the web to search for homes for sale. And you can bet they want to see everything about the property right there on their computer screen, or in many cases, now on their smart phones. Assume a buyer is looking at dozens of online listings a day and yours needs to be every bit as comprehensive and high-tech as the next to garner a second glance. In addition to listing price, property tax and square footage, your listing needs to include photos of the interior and exterior of the home; and things like a virtual tour, floor plan and map of the surrounding area. People are accustomed to finding everything they want instantaneously online these days, housing is no different. Make sure your listing can be easily found on the web or you’ll be missing out on a huge percentage of active house hunters.

Home Selling Tip #3
Take high-resolution photos of every single room in your house, as well as the exterior of the home. Get as many angles as possible of each room because buyers often judge properties on the pictures they see online. In many cases, buyers will think there is a problem with a room if there isn’t a photo of it, so make sure to show as much of the house as possible. Take the photos during the day for the best light. Open blinds and turn on lights if necessary to brighten up the space. Hiring a professional real estate photography company is a smart idea because oftentimes they can use the photos to make a virtual a tour that can be posted on YouTube, Facebook and other video sharing sites.

Home Selling Tip #4
Entertain all offers and be creative when wheeling and dealing. Just because it is a buyer’s market doesn’t mean all buyers can waltz in and purchase whatever house they please. It is difficult to get a mortgage loan these days, which has prevented a number of willing buyers from being able to purchase homes from sellers who have accepted their offers. For this reason, it may make sense to take an all-cash offer over a higher priced offer that would require financing. Whenever you do get an offer, ask about the loan situation and what percentage down payment the buyer can afford. Most lenders require 20% down now, so if your buyer doesn’t have that much to put upfront it won’t matter how much they are offering on your house. Remember, many times buyers want the home just as much as you want to sell it, so they may be willing to make concessions in order to close the deal. Keep open communication with potential buyers through your respective agents to work together on an agreement both parties feel comfortable with.

Home Selling Tip #5
Home staging is another essential step in home selling. Your property needs to look good (and be in good shape) to grab attention in this market. For the most part, your Chicago condo or house will probably be in better condition than the foreclosures and bank-owned properties for sale. Well, this is your chance to really highlight that fact with a little staging. Simple upgrades like painting the walls and trim, replacing cupboard door knobs and outdated fixtures, planting flowers and pruning hedges will make a big difference in your home’s appearance. It is also important to depersonalize and de-clutter your place by taking down and putting away all family photos, kid’s artwork, souvenirs, mementos and excessive wall hangings, decorations and items on shelves. Take everything off the countertops and tables, leaving only one item per surface (such as a vase of flowers on the dining room table) to create a sense of cleanliness and space. Consider rearranging furniture or taking some pieces out of the house and storing them for the time being to make the rooms feel bigger and more versatile. Simplify, minimize and update.

The post Use These 5 Tips for Selling Your Chicago Home appeared first on Dream Town.

Consider the following items to add to your home preparation to-do list:

Make A Good First Impression
From the moment a potential buyer steps up to your condo door or pulls up outside your single family residence, it’s important to help foster positive feelings toward your property. First impressions of a condo will include its front door, and the first glimpse of a single family residence will include the front door, the home’s exterior, its shrubbery and the gutters. It’s important not to underestimate the importance of good lawn care, as a lawn that is lush and well maintained gives the impression that someone will care just as much about the inside of the home as they do the outside. Front doors should be cleaned and painted in a color that’s not off-putting to a large number of buyers. The area around the front door, whether it’s a rug or also includes a porch, should be free of dirt.

Declutter and Neutralize
It’s important for potential buyers to see their family’s day to day life in your home, which is why decluttering your place is a critical component of a successful home sale. Remove any personal photos or artifacts that would cause potential buyers to take note of your family or your organization methods, rather than the home’s overall design, structure and feel. You should think neutral when it comes to your décor items that remain. Not only do neutral colors make rooms appear larger, but they also keep the focus on the home’s design and structure rather than on a very polarizing wall or couch color. It’s also important to do some deep cleaning: Shampoo the carpets, steam the curtains, rebuff hardwood floors, do whatever it takes to make your home shine.

Have a Home Inspection
Having a home inspection conducted prior to listing the home is a great way to have an objective opinion on any repair projects you might need to undertake to drive up your home’s value. Home buyers will recognize the value of a home that doesn’t need major repairs upon purchase, so if you’re able to make some of the improvements now, doing so might net you more success on the market in the future. Areas that inspections often call attention to are the kitchen and bathroom. Figure out where these rooms need the most improvement, and based upon your budget, decide what you’re willing and able to do. Perhaps resurface a chipped bathtub, or reface outdated kitchen cabinets. Small changes like these could yield big payoffs.

Collect and Organize Documentation
Make sure to collect all the necessary data and paperwork potential buyers could possibly inquire about, such as the date of various inspections, the age of the water heater and furnace and the date and description of any improvements you have made to the property in the time you’ve owned it. Anticipate any questions buyers might have and make sure you have the necessary documentation and answers to back them up. This will save you time in the long run and let buyers know you’re on top of your home sale, wanting to make the transaction as smooth as possible.

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An article in the Chicago Tribune this month titled, “Waiting to sell? There are good reasons to list now”, highlights several factors that have inspired homeowners to list sooner rather than later. Local real estate agents interviewed for the piece offer the following grounds as strong motives for putting that Chicago home on the market today.

First of all, there are some homeowners who need to sell. A lot of this relates to a person’s job situation. Lay offs, pay cuts and other changes in employment have made it difficult for many Americans to pay their mortgages. Some people have secured jobs in other parts of the state or country and need to relocate for those opportunities. Those who have been in their home for five or more years, and who haven’t extended a hefty home equity line of credit, are in good shape to sell and could possibly come out ahead.

A number of Chicago homeowners are looking to trade up to a bigger house, better school district, pricier neighborhood, etc. These upwardly mobile individuals and families understand that they may not get top dollar for their current home right now, but the trade off is more affordable price tags on other properties that would have been out of their budget in other market conditions. Suddenly that 20% hit you’re taking doesn’t seem as bad when you can save tens of thousands more on an upgraded place.

Some people want to downsize. For instance, selling the big family home for an empty-nester condo with a smaller mortgage and lower utility bills. This works better for those who have paid down a sizeable portion of their principal and do not have a lot of money borrowed against their home because they can sell for less and still pay off debts associated with their home loan.

This is a good time to get the best bang for your buck in harder-hit markets, such as Florida and California. Many Chicagoans have dreams of leaving the long, harsh Windy City winters behind and moving to warm-weather climates. A number of these areas have experienced much deeper real estate discounts than Chicago, which can stretch our dollars much farther when it comes to purchasing a home there.

Finally, keep in mind that homebuyers are eager for fresh listings, especially those that are priced right. Much of the housing inventory in Chicago has been sitting on the market for months. So anything new is sure to get the attention of active house hunters. Something to consider… fourth quarter homebuyers tend to be serious buyers who are also very motivated to purchase. All the more reason to list now!

The post Motives to Sell Your Chicago Home Now appeared first on Dream Town.

1. Take new pictures
   Photos are a major selling factor when it comes to Chicago real estate. Not only should you have professionally taken photographs, but you should get them updated with every change of the season so it doesn’t look like your property has been sitting on the market for months and months and months. Most of the time this just requires a new exterior photo that reflects the current time of year.
2. It gets dark earlier, so turn on the lights!
   Shorter days lead to darker rooms and dark spaces do not sell as well as bright, light-filled spaces. For evening showings, compensate for the lack of sunlight with plenty of artificial lighting. Make sure you don’t have any burnt out bulbs and add extra lamps to rooms with dim overhead light fixtures. You might even want to repaint dark colored rooms with lighter hues to help brighten the space.
3. Don’t neglect the yard work
   With fall comes a lot of falling leaves. If you have a property with outdoor space, always rake or sweep the exterior grounds to present a clean, well-kept appearance for every showing. Cut down dead and dried up flowers from your spring plantings. Keep walkways and driveways free of debris and trim up the shrubs to get them in good shape for the winter.
4. Build a fire in the fireplace
   The fireplace is a great selling point in your home and there’s no better time of year to draw attention to this wonderful feature than when the temps start falling outside. Have a fire going when potential buyers walk into the property and they’ll really warm up to the idea of living there.
5. Go easy on the holiday decorations
   It is fun to celebrate the seasons with holiday cheer, but don’t go overboard when trying to sell a home. Halloween cobwebs, creepy crawly spiders and cackling witches can unintentionally turn your prime property into a haunted house. Stick to minimal harvest decorations, such as an autumn wreath on the front door, to keep the home looking festive without the fear factor.

Take these five easy-to-implement ideas into consideration and talk to your listing agent about other pointers to help sell your home quicker this fall. Just started thinking about putting your home on the market? Click here to find an expert Chicago real estate agent to guide you through the process.

The post 5 Helpful Hints to Sell Your Chicago Home This Fall appeared first on Dream Town.