Before you put time and effort into finding a house, weigh why a 2017 summertime home purchase may or may not be the best deal for you. March through July are the commonly popular months for buying a house. In the spring and summer, you’ll often find a large selection of homes for sale, but you may also encounter competition that drives up prices, but each market is different. Consulting experienced, top producing, Chicago real estate professionals can help confirm the best individual home buying and/or home selling decisions.
Reasons to Buy a Home in the Summer
Do you have kids in school? If so, you probably want to sell your house and move into a new one before the next school year starts. Moving over the summer lets kids finish the term at their old school, as well as explore the neighborhoods and make friends before the first day at their new school.
Houses and neighborhoods often look their best in the summer, with lawns, flowers, gardens and trees in full bloom. You can see how well neighbors take care of their grounds, whether kids are playing outside, and how much the neighborhood socializes at barbecues, the local pool, and the like.
Possible Cons to Buying During the Summer
Summer is a popular time for house hunters, and that means two things: competition and a possible spike in prices. You may find yourself struggling to see all the available homes, feeling pressure to choose quickly, getting caught in a stressful bidding war, or missing out on the home you want. If you can, you may want to wait until fall or winter, when the house selection is smaller but prices are lower and buyers and sellers are more focused.This again is a time to consult a trusted, top producing, seasoned Chicago real estate professional for your best plan of action.
July 2017- Ready to surpass expectations this summer and leave no stone unturned, Ian Schwartz with The Ian Schwartz Group has built a team of experienced, client focused, top producing real estate professionals you’d want representing you this season. Find out why they say…..everything we touch turns to SOLD!
In today’s current Chicago real estate market, how can you sell your house amazingly fast? Real estate experts across the state and nationally all agree..the most influential factor to getting your home sold quickly is the price you sell it for, no matter if it’s Fall, Winter, Spring or Summer 2017. Renovations may count too, but in the end, there will be no quick exchange if the price is not right. Having an experienced, top performing Chicago Broker/Realtor in your corner can be a huge benefit. See the classic video below for some additional tips:
No time like the present when Chicago real estate is buzzing through the spring 2017 season. Interest rates are still fairly low, prices are attractive, and first time buyers are out and ready to buy. Use the tips below to determine if you are truly ready:
1. Know your credit landscape. Get a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.
2. Do some saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.
3. Figure in the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.
4. Determine what you can afford. Generally, you can afford a Chicago home equal in value to between two and three times your gross income.
5. Explore your mortgage qualifications. How large of mortgage do you qualify for? Also, investigate different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.
6. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.
7. Make your home wish list. Then, prioritize the features on your list.Select where you want to live. Compile a list of three or four Chicago neighborhoods you’d like to live in- Lincoln Park, Gold Coast, Old Town, Lakeview, Roscoe Village, Bucktown, Wicker Park, Lincoln Square, Ravenswood, Andersonville, River North, River East, Streeterville, North Center, Logan Square, West Loop, South Loop, Loop, Lakewood Balmoral, Edgewater, Old Irving Park, River West, Uptown, West Ridge? Take into account items such as schools, recreational facilities, area expansion plans, and safety.
8. Consider other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.
9. Contact a Top Producing, Top Ranking Chicago REALTOR®. Find an experienced REALTOR® who can help guide you through the Chicago real estate process with ease.
More info HERE
The Ian Schwartz Group is a trusted resource for first time home buyers. With more than 15 years of solid experience and results, this real estate group is ready to provide conscientious service; winning trust, loyalty and friendship all along the way!
Despite the mild wind and cold weather experienced this winter, the Chicago real estate market continues on a warm spring 2017 driven path. The median Chicago home price surged with an annual increase of 12.1%. Interest rates remain attractive as the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central- Chicago region was 4.32 percent in February 2017, according to the Federal Home Loan Mortgage Corp.
Buyers are already expelling pent-up action and are out in force. Sellers are seeing the benefits of listing NOW, as demand/ideal Chicago market conditions continue to benefit all parties involved.
Ian Schwartz with The Ian Schwartz Group, reports that “everything we touch turns to SOLD”. So far this year, Ian and his team have sold over $5o million dollars in real estate units in the city of Chicago. As a recipient of Coldwell Banker’s International President’s Premier award, Ian and his team remain client centered, attentive, sincere, tenacious, and knowledgeable; with an end result of top producing, top performing, high-ranking Chicago residential real estate results. For more information on The Ian Schwartz Group visit HERE and HERE.
Chicago homeowners planning to put their homes on the market shouldn’t wait for flowers to bloom before getting ready to sell. With spring being one of the busiest times for Chicago real estate transacting, having time to prepare can make for a much smoother selling experience. If you’re a prospective Chicago home seller, here are the top five things you can do now to get ready for an exceptional spring sale:
Your choice of an experienced Chicago listing agent will make a big difference in how quickly your home sells and how much of a profit you’ll realize. Get recommendations from friends and interview several Chicago listing agents to see which ones have the right experience with similar homes in your price range and area. A REALTOR® with a great marketing plan and deep local Chicago knowledge is extremely important. Don’t just go with the one who tells you they can sell for the highest price; choose someone who can present you with detailed market analysis and a good grasp of what you’re looking to do.
Research Your Market
If you plan to buy another Chicago home, an important decision to make is whether to sell your home first or make an offer on a new home before putting yours on the market. A knowledgeable REALTOR® can help you evaluate how fast homes are selling in your market and help you estimate how long it will take you to find a home. This decision also depends on your financing, so you may want to consult with a lender to see how you can finance the transition from one home to another if you choose not to sell your home first.
If you spend the winter months preparing for spring, you’ll find yourself ready to move fast when buyers come out of hibernation.
Improve Your Home
While you don’t necessarily want to do a major, expensive renovation project before you sell, you can make minor repairs and improvements that will make your home look fresher to buyers. Try things such as replacing the caulk and grout in your bathroom, updating old or rusted ceiling fans and light fixtures, and changing switch plates, doorknobs and other hardware for a clean and neat appearance. Consider painting your front door and trim even if your rooms don’t need new paint.
Clear Away the Clutter
If you visit model homes or open houses of homes that have been staged, you’ll never see a stack of unread magazines, children’s artwork loosely hanging on the refrigerator, or a cluster of unpaid bills on a table. While everyone has clutter, buyers want to see a fantasy version of your house, in which they can envision living. Once your home is on the market you’ll need to keep it as neat as possible. One way to make that easier is to reduce the amount of clutter you have on your shelves and surfaces. Put away items that are regularly on your kitchen sink and pack away the family photos that gather dust.
It may sound crazy to start packing months in advance of your move, but since you’ll eventually need to do this anyway, you might as well get organized now. We’re not suggesting you pack up your kitchen and eat off paper plates, but you can sort through your storage closets, attic, basement or garage to determine what you want to keep, what to give away and what to sell. Boxing up items will make your space look larger and neater when it’s time to show your home. You can also get an idea of whether you need to rent a storage facility while your home is on the market. More information HERE
For over 15 years, Ian Schwartz with The Ian Schwartz Group has enjoyed representing both Chicago buyers and Chicago sellers as a Licensed Broker Associate in the top ranking Coldwell Banker’s Lincoln Park Plaza office- 1840 N Clark St, Chicago, Illinois 60614-5881, one of the top five producing Coldwell Banker offices in the Country. Ian was given the distinguished title of being in the top 1% of agents within the Chicago Association of Realtors for 2013, 2014, 2015, and 2016. His sales consistently produce in excess of 50+ million dollars each year. Additionally, with the help of his high ranking team, Ian steadily holds the coveted top 1% of Coldwell Banker agents within the United States. Think of spring and select a Chicago real estate group with a compelling profile of success and a client centered style that produce results. More information on Ian and his team can be found HERE and HERE.
It’s as true in real estate as it is in politics: There are no secrets anymore. Buyers have access to an enormous amount of information. On the Internet, details about what a Chicago home last sold for and how much it now might be worth are usually only a series of clicks away. Where sellers might once have coyly declined to say what they paid for a house, sellers and buyers can now assume that each has most or all of the information the other has. “I tell my sellers that the buyers are going to look at all the same facts I’ve [given] them in the listing presentation,” Owen says. “There’s no way to hide it.”
Some sharp real-estate agents have been capitalizing on the newfound transparency, playing to buyers’ understanding of the market. They may trumpet the size of the bargain, such as the listing for a St. Charles home sold in June that announced the asking price of $1.249 million was “$1 million less than seller paid in ’06!” A Chicago-Lincoln Park propertie’s listing sheet blared that the $1.75 million asking price was well below both the original asking price of $3.65 million and the appraised value of $2.5 million. For another residence—this one in Lake View—the agent confessed that the home “was overpriced for much too long.” Those revelations might spark pangs of humiliation in the sellers, but at the same time, they send a clear signal to buyers: Game on.
Honesty is essential in another aspect of the home-selling process. When first meeting with a real-estate agent, sellers should be up-front about their financial status. As Parent explains, there are markedly different routes for selling a home that is…CONTINUED
There’s typically a slowdown in shopping activity from Thanksgiving through New Year’s, when people are focused on family and friends and holiday celebrations. But that’s not necessarily the end of the world for sellers.
Those left combing the market during December and January are typically more serious about the home hunt. They might include families relocating for job changes, first-timers ready to leap during a slow market, and those who’ve recently sold a home and need a new place to live.
Some buyers simply thrive in the more relaxed environment, with fewer competitors for top properties and more attention from agents. Holiday season buyers are typically motivated and financially ready.
Hoping for a signed contract in your stocking? Follow the rules of holiday/winter home selling and you could capture the interest of one of these serious buyers:
1. Deck the halls with restraint. Holiday decorations make homes festive and buyers merry. But too many ornaments, wreaths and garlands can obscure views, make rooms feel smaller and distract buyers from their true purpose: deciding whether or not your home is right for them.
2. Basic principles of home staging take on added importance during the holiday season. They include these tenets: Anything more than five is a collection and should be packed away. Keep tabletop decor to no more than three objects.
3. Think twice before displaying decorations specific to your religious or cultural heritage, since it makes it more difficult for others who don’t share your background or beliefs to envision themselves living in the space.
What, then, is appropriate?……MORE INFO
During the holidays, your curb appeal needs to not only spread holiday cheer, but attract the right message to guests and potential home buyers. If the outside of your home is not appealing, you may leave a not so great lasting first impression before anyone even experiences what the inside has to offer. Many real estate professionals and home stagers have found that hints of holiday colors and decorations on the outside of your home can create a warm and inviting atmosphere for all that cross the threshold. With so many poor examples of proper outdoor decorations, it is hard to know what is appropriate for decorating the exterior of your home. REALTOR® Magazine provides guidelines to create holiday curb appeal the right way:
1. For a classic exterior look, home stagers recommend twinkling clear, white lights.
2. Hang a festive wreath at the front door that will look great and create a nice smell when buyers enter your home.
3. Add some seasonal flowers to your front entryway to add some holiday color.
4. Show off your windows with battery-operated candle lamps at primary windows.
5. Leave outdoor lights on after 5:00 p.m. to give all a clear pathway as they enter your home.
6. Think winter and not a specific holiday…avoid placing religious-themed decorations outside your home.
7. Make sure your home is in home staging shape with nicely trimmed bushes, fresh house paint, etc.
Since your home will be looking its best, take a photo that you can use to create a special holiday card or flyer to be used as marketing material through the holiday weeks. With these tips, you will be on your way to leaving good vibes with visitors, guests, and potential home buyers.
Although autumn can be one of the busiest seasons for Chicago real estate and current homeowners, it’s also the best time to take advantage of the moderate weather to repair any damages before the first frost sets in. Here are some home maintenance ideas that will keep your Chicago home running in peak condition all the autumn season long in 2016.
Check foundation for cracks and caulk around the areas where masonry meets siding, where pipes or wires enter the house, and around the windows and door frames to prevent heat from escaping. “Caulking and sealing openings is one of the least expensive maintenance jobs,” says Michael Hydeck, Hydeck Design Build, Inc., Telford, PA, and National President, National Association of the Remodeling Industry (NARI). “Openings in the structure can cause water to get in and freeze, resulting in cracks and mold build up,” he says. “Regardless of whether you live in a cold or warm climate, winter can bring very harsh conditions resulting in water or ice damage. A careful check of the outside structure combined with inexpensive maintenance can save you money in the long run.”
Install storm windows and doors and remove screens. Before storing, clean and repair screens, spray with a protective coating and place in a dry area of the basement or garage.
Slideshow: 10 Fall Home Maintenance Tips
Examine your pool cover for damage and replace if necessary.
Weather-strip your garage door. Make sure the seal between your garage door and the ground is tight to prevent drafts and keep out small animals.
Inspect your driveway for cracks. Clean out and repair any damage with driveway filler, then coat with a commercial sealer.
“Heating and cooling amount to 47% of the energy costs in your home. Proper sealing and insulation can save up to 20% on heating and cooling costs, or up to 10% on your total annual energy bill,” says Katie Cody, spokeswoman for Lowe’s. “Air leaks from windows and doors are easy to find by moving your hand around the frame. Applying weather stripping and caulk to these areas will help cut down on drafts.” More information HERE…
October 2016-Get all your Chicago real estate needs completely met with Ian Schwartz and The Ian Schwartz Group this autumn season. With over 15 years of top ranking, high producing, nationally recognized performance, Ian and his team combine forces to ensure an outstanding, client centric experience from start to finish. Buyers and Sellers alike, no stone will be left unturned until the transaction(s) are completed with experienced ease.