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Stephanie Hofman, Residential Real Estate Broker | 847-652-1902
Coldwell Banker | Highland Park, IL | www.StephanieHofmanHomes.com |
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Happy New Year! | |
Each year, I blog about resolutions that every seller and buyer should make, if they want to get the job done right! So below you'll find my abbreviated versions for 2012, plus resolutions for those of you who are homeowners that aren't planning a move anytime soon. Also - I'll tell you why you SHOULDN'T discount winter as a great time to sell your home, and how to best present your home in the colder months.
Thanks for reading, and happy 2012!
All the best,
Stephanie |
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New Year's Resolutions for Home Sellers | |
Thinking about selling your home in 2012? It's a challenging process--use these resolutions to make things a bit easier!
1) Determine if you might be in a distressed situation. Could you be facing a short sale or foreclosure? Get familiarized with the process and make sure to engage the services of a qualified real estate agent and attorney who has experience with distressed sales.
2) Understand YOUR market. This is perhaps the most crucial element of listing your home for sale. You must know the conditions of your specific marketplace so you can be realistic about pricing your home and evaluating offers. You can research home prices online, but better yet, have a real estate broker (like me!) prepare a market study specifically for your home.
3) Price your home right FROM THE START. Evalutate the market data, and be honest about how your home compares with other similar homes that are for sale or have recently sold. Don't make the mistake of "testing" the market at a higher price. You'll only waste precious time - and probably money!
4) Prepare your home for sale - DECLUTTER and get anything that needs to be fixed FIXED! You must present your home in as perfect condition as possible to prospective buyers. They will look at your home with an incredibly critical eye and use every minor imperfection as a point to take dollars off their offer.
4) Understand the home sale process from A-Z. A home sale is a legal transaction with many different parties involved. Learn about each step, from signing a listing contract with an agent to handing over the keys, including what it will cost you to sell your home.
5) Be FLEXIBLE when it comes to showing your home. You'll need to be able to let buyers in at their convenience. Every agent knows that one of the biggest reasons homes don't sell is LACK OF ACCESSIBILITY (makes sense, right? If a buyer can't get in to see the house, they can't buy it!).
6) Treat selling your home like the BUSINESS TRANSACTION that it is. Selling a home isn't personal; it's about the buyer's opinion of the value of the asset. The home sale process may include some intense negotiations, and you cannot take it personally. Remember: as much as you are trying to get top dollar for your home, your buyer is trying to get the best value possible.
For more, view the expanded version of these resolutions, click here.
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New Year's Resolutions for Home Buyers | |
 Ready to buy a new home? This may be one of the best times in history to do it! Check out my resolutions for home buyers to help make the process go as smoothly as possible...
1) Have your financial ducks in a row. Know what you and and CANNNOT spend. Consult with a qualified lender to determine your parameters and what type of loan will work best for you.
2) Create a ranked wish list. And make sure you and your purchasing partner (if you have one) are in agreement! Also determine which features are negotiable and which are not.
3) Work with a qualified and competent real estate broker. You want someone looking out for YOU who will do the searching for you and set up appoinments, plus provide professional advice on developing and negotiating an offer. A great agent will provide you with all of the information necessary to make the best possible decision.
4) Be realistic about pricing. Just as sellers have to be realistic about what their homes are worth, buyers need to understand that there's a difference between a great value and a ridiculous low-ball offer! An insulting offer is not the best way to start off negotiations.
5) Commit to buying a home. Remember that your new house will be a place to make memories and enjoy your family, not a retirement plan or an ATM.
Click here to see the full version of home buyers' resolutions. |
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Market Flash!
2011 Recap | | |
Highland Park
250 homes sold
Av. Sale Price: $610,610
Av. List Price: $678,281
Deerfield & Riverwoods
200 homes sold
Av. Sale Price: $560,891
Av. List Price: $505,477
Glencoe
125 homes sold
Av.Sale Price: $1,080,748
Av. List Price: $1,199,910
Northbrook
271 homes sold
Av. Sale Price: 512,874
Av. List Price: $554,838
Glenview
349 homes sold
Av. Sale Price: $600,658
Av. List Price: $646,450
Winnetka
201 homes sol
Av.Sale Price: $1,292,503
Av. List Price: $1,400,702
Wilmette
230 homes sold
Av.Sale Price: $739,823
Av. List Price: $791,630
Lake Forest
198 homes sold
Av.Sale Price: $1,242,833
Av. List Price: $1,410,570
Lake Bluff
86 homes sold
Av. Sale Price: $683,446
Av. List Price: $758,403
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New Year's Resolutions for Home Owners |  If you're not selling or buying real estate this year, you should still have a few resolutions to keep you home in top working order! 1) Maintain, maintain, maintain! Make sure that you stay ontop of all the components ofyour home, from your mechanicals to your appliances, to your roof, gutters, and windows, etc....The best way to avoid costly repairs is preventative maintenance! 2) Invest in a home warranty. For about $50 a month, you can buy yourself peace of mind. Several companies, such as American Home Shield, offer plans to cover costs if a major mechanical or appliance should malfunction or break. For a minimal fee, about $60, the the problem will be fixed or the item will be replaced. If a big ticket item needs to be replaced, such as a water heater, it could end up saving you a lot of money! 3) Are you concerned about being "underwater"? Check with your lender to assess your situation, see what options you may have for modifying your loan. 4) Make an extra mortgage payment. Even making just ONE extra payment a year (or, divide your monthly payment by 12 and add that amount to each payment) can dramatically shorten the term of your loan and reduce the amount of interest you'll be paying over the long haul. 5) Purge! Toss expired medications and food. Donate, EBay or throw out clothing and household items you no longer want or need. 6) Fix it! Go through your home and take note of those pesky little repairs that need to be done (touch up painting, leaky faucet, running toilets, etc) and devote a weekend to completing these little projects (or call a qualified handyman). 7) Organize! It may seem overwhelming to get your home organized from top to bottom, so resolve to do one room, or even one part of a room, a week. Breaking it up into small "bites" will make the process less intimiating, thus you'll be more likely to get it all done. 8) And, again, remember your house is a home, not a retirement plan or an ATM, and resolve to enjoy it as a place to live and make memories throughout the years. |
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How to Market Your Home During the Winter Months | |
Winter can be a wonderful time to sell a home! There's less inventory and the buyers are usually serious - they're not braving cold, icy weather for nothing! A fresh blanket of snow atop a roof and in tree branches sets a charming scene. Take advantage of the quiet seasonal beauty by setting up your home as a warm winter retreat:
1) Take care of the outside of your home. Set pretty planters with wintry arrangements by the front door, and keep the pathways and porches/stoops of your home clear of snow and ice. Shovel as necessary and sprinkle liberally with salt. Make sure your buyers can get to your house! That last thing you want is for a fresh snowfall to keep a prospective buyer away, or for someone to slip as they're entering your home - not a great way to start a showing. You want them to not even notice that it's snowed or it's icy as they come up your front walk -- all they should be thinking about is your home's wonderful curb appeal! Inside, make sure to have booties available (ask your agent for those!) or a clean mat for them to place their wet boots on.
2) Up the cozy factor inside! Create a scene of both physical and emotional comforts, using wonderful scents, a welcoming fire, and cozy pillows and throws on your couches.
3) Brighten up! You want your home as bright as possible for buyers: use the highest wattage bulb possible and change burnt out bulbs immediately. Open all drapes and blinds to let the sun shine in.
4) Your home should sparkle. In any season, make sure your home is its cleanest when it's being shown, but especially in the winter, when snow and salt can mar floors.
5) Compile a list of fun winter activities in and around your community. Type them up on nice paper in a pretty font and put in an interesting picture frame alongside your home's listing sheets and brochures.
6) Include a small photo album with photos of your home in the summer and spring so buyers can see what the flowers and foliage look like in full-bloom.
A few simple steps will to "winterize" you home will make it an inviting place that buyers will love! |
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