Category Archives: 2015 real estate predicitons
Prepping the home rarely happens in one weekend. It takes time and thoughtful planning. Having an experienced, highly skilled Chicago real estate professional as your trusted guide certainly helps. If you intend to sell your Chicago home this spring, here are a few steps you need to consider right now:
Stash your stuff
As you prepare to sell, think of your home as an investment and start to see it through the eyes of potential buyers and the market. When you’re trying to sell your home, the less-is-more approach applies.
Put away big furniture and personal items. Store or put away all the things you won’t be using until you move into your new home. In the kitchen, make space in the cabinets for items you will need to use daily, but will want to put away for showings.
Paint, clean and make small improvements
It’s common for sellers to make cosmetic improvements before they list. Kitchens and bathrooms can sell a home. Plan to have the bathroom grout cleaned and have some parts of the house painted to give it a fresh look.
Consider cleaning rugs, refinishing hardwood floors or painting kitchen cabinets. If you plan to list in the spring, you likely have an outstanding local Chicago real estate agent on your side by now. Get their advice and ask for referrals to do the work. There are lots of inexpensive contractors who can help spruce up your home quickly.
Research like a buyer
- Today’s buyers have research in their DNA and will investigate all they can. Check with your local building department and ensure there are no outstanding issues with your home.
- Verify that property records reflect your home accurately, and prepare to remedy any discrepancy. Make sure your title report is clean, and talk about potential disclosure items with your trusted Chicago real estate agent. Banks won’t lend if there are outstanding issues, and you don’t want to jump through hoops at the eleventh hour. Researching now will keep you one step ahead of the buyers.
- The sale of your home is likely one of your biggest financial transactions. Get a real estate agent on your team early, and make a list of all the tasks you need to complete before listing this spring. Now is the time to have those discussions. Smart planning and a good strategy will ensure a quick, painless and profitable home sale. More tips can be found HERE
April 2019 – Ian Schwartz with The Ian Schwartz Group is prepared to take spring on by storm! With an ongoing client-centered approach to top producing, high ranking Chicago real estate performance, Ian and his team combine experienced real estate strengths to ensure that your overall real estate transactions are outstanding! More information on Ian Schwartz and his dynamic group HERE and HERE…”everything we touch turns to SOLD!”
What is the whole truth about Chicago 2018 winter real estate? Homes are more likely to sell in winter than at any other time of year. Not only that, they sell quicker and they often sell for more money. These statistics hold, at various percentages, whether the home is in balmy San Diego, Calif., or snow forming parts of the Midwest.
Some national news headlines do us no favors by claiming that the reason for any possible winter sales slump is because of February’s “cold, dark weather” across most of the country. Sure, that can be a deterrent, but most of the slide in sales may be due to the media helping to form public perception that winter is a horrible season for real estate deals…simply not the case. Successful Chicago real estate professionals know better. Winter is actually a great season to sell a home, and below are just a few of the many reasons why:
Less Competition From Other Sellers
“Just your luck – you have to sell your home in winter, the slowest and dreariest sales season of all,” begins a column on winter real estate from USA Today. “Winter can be the toughest season to put a house on the market,” claims a writer at Fox News before he goes on to give tips to increase “chances of a winter sale.”
Naturally, many homeowners read these news items and decide to hold out until spring. Worse yet are the homeowners who take their homes off the market as winter approaches, aiming to re-list in spring. Sadly, they may be missing a prime opportunity to finally get the home sold – and for top dollar. Because other homeowners took the bait, however, there is far less competition for those that do list, and Chicago homeowners are definitely in the driver’s seat in a winter transaction.
Buyers Are More Motivated During Winter
What would motivate someone to buy real estate in the dead of winter, especially in areas with wicked weather? Job transfers are high on the list of reasons, so if you practice real estate in an area with large influxes of transferees aka relocating to Chicago, winter is an even better time to sell.
“It’s true that if your home isn’t on the market in winter, the new Microsoft manager relocating from California won’t see it and will thus buy another home,” writes Seattle agent and broker Sam DeBord for the Seattle Post-Intelligencer.
“But that same situation for a home seller who is on the market is magnified. Your competition is nowhere to be seen,” he continues. “While the buyer may have had 30 homes to choose from in June, there may only be 10 homes that fit their criteria in January. If they are motivated to buy, they will choose one of those 10 homes.” More information HERE
February 2018 – Ian Schwartz with The Ian Schwartz Group is dedicated to ongoing high ranking, top performing, client focused Chicago real estate expertise in winter and through all seasons. This top producing, nationally awarded, savvy Chicago real estate team prides itself on leaving no stone unturned to find you the perfect home. If you are a seller, Ian and his experienced team will pour their hearts and souls into effectively marketing your home online and in print to have it seen by the largest possible audiences around the world. They will take all necessary measures to bring qualified buyers in the door and close the real estate sale(s) with ease.
The U.S. government and local organizations can often offer special tax credits/incentives for first-time home buyers. When the economy was a shambles and the housing market was in disarray back in 2009 and 2010, factors often resulted from a purely financial standpoint, that people who bought then may have been better off renting and putting their down payment and transaction costs into the stock market, according to a new analysis by Zillow Research. On the other end of the spectrum…Many people who took the government and other organizations up on special home-buying incentives six years ago remain in those homes and may end up making a financial killing this year and in years to come.
The only sure lesson to take from these set of scenarios is that no single element — low interest rates, low prices, government incentives — should compel you to buy or sell. That kind of myopia can backfire. The home-buying decision isn’t made in a vacuum, but includes a host of factors that make the timing right. For example, how long you plan to live there should be a major consideration. In fact, many other factors go into owning a home — some financial, some emotional, many timed to the needs of a particular buyer and/or family. Having an experienced real estate team to work on your behalf as an advocate is vital to ensuring sound real estate decisions. More information HERE
Per a recent client testimonial, Ian with the top performing Ian Schwartz Group.. “is savvy, smart, skillful, funny, aggressive, hardworking, an incredible broker who will go above and beyond not only every day, but every hour, quite possibly every minute of every hour, to get the job done.” Ian and his team strive to surpass expectations and make each and every real estate transaction a seamless success; or in other words….everything we touch turns to SOLD!
When you’re looking to buy something as expensive as a home (when else do you drop hundreds of thousands of dollars without missing a beat?), there’s no room for error. Most of us are familiar with the idea of window-shopping — browsing through the racks on the off chance you’ll find a diamond in the rough….which brings us to the subject of real real estate open houses; every open house presents an opportunity to land that hidden gem, or to sniff out an overpriced dud? The best way to take advantage of this personal meeting is by being prepared. Get the inside scoop by asking questions. Remember visiting an open house gives the prospective buyer, an opportunity to speak directly to the seller’s agent or direct team/staff member(s). Use the opportunity to ask some basic questions:
What’s the seller’s timeline?
Sometimes sellers choose a buyer’s offer simply because of timing. Perhaps they want to sell quickly because of a job offer, or delay the sale so their kids can finish the school year.
The more you know about what the sellers want, the more easily you can work around it — and put together a tempting offer while getting a good deal on the price.
Where can I get a bite to eat?
Getting directions to a local eatery or coffee shop will tell you a lot about your neighborhood. If there’s a retail strip close by that locals frequent and feel proud of, chances are, you’ll love it too.
What are the neighbors like?
Is the neighborhood kid-friendly? Are there lots of retired people? Is there a thriving bar scene on the weekends?
Some people are fine doing their own thing and don’t require (or want) a tight-knit neighborhood. But other people are much happier if they’re surrounded by kindred souls who are in a similar stage of life. The seller’s agent will be able to give valuable information about the people you’d be rubbing shoulders with, if you choose to buy.
And don’t forget: While open houses are great venues to ask questions and listen, be careful not to give away more than you want to about your own situation. Being discreet about your finances and how much you love the home will benefit you when it’s time to bargain for a good price.
How many offers have been made?
Does the agent look happy? Maybe even … suspiciously happy? Is she distracted, perhaps not giving you the “hard sell”? She might have received word that an offer is coming in any minute.
Make sure to anticipate the conversation by asking her directly how many offers have been made on the home so that you can negotiate accordingly.
Has the asking price fluctuated?
Your agent can find out how many times the price has shifted since the home was first listed, but the seller’s agent will likely jump at the chance to explain why. Perhaps the price dropped because the seller has to move on a tight timeline.
Info like this might even clue you in that the list price is somewhat flexible — and you can use that to your advantage when it’s time to draft your offer letter. See more tips and suggestions HERE
September 2015 – A recent rating of Ian with The Ian Schwartz Group…”Ian really shines and his mental rigor as a former lawyer came into play. He is a masterful and brilliant negotiator. For this reason alone, it would be a mistake not to hire Ian if you are looking to purchase a new house. Ian does not stop working for you until….” See this recent review of Ian HERE
Nationally, after a slight slowdown in the market in 2014, housing analysts and economists have high hopes for this new year. Here’s a recap of some of the real estate predictions for 2015:
Rent rises to outpace home-value growth: Rents likely will continue to rise in the new year, and an increase in rental costs in 2015 could outpace annual home-price gains. Expect the rental market to remain a “landlord’s market” in 2015, with vacancy rates expected to stay below 5 percent in the new year, according to the National Association of REALTORS®. That should lead to demand pushing rents up even higher and keeping them above inflation, notes NAR Chief Economist Lawrence Yun. Apartment rents are projected to increase 4 percent in 2014 and 4.1 percent in 2015.
Stronger economy leads to greater confidence: A stronger economy will likely lead to more demand for housing in 2015. “Overall, the economy finally appears to be gaining enough momentum to help provide the support that the housing market has needed for stronger recovery,” Sam Khater, deputy chief economist at CoreLogic, notes in the company’s 2015 Housing Outlook. “The combination of stronger employment growth and especially Millennial job growth makes for solid footing for the real estate market.
Millennial force: Younger professionals are having more luck in the job market, which is expected to help more of them jump into home ownership in the new year. Overall, employment is on the rise, but jobs for Millennials — particularly those aged 25 to 29 — has risen by 3 percent. That’s one percentage point above the nationwide rate. According to some forecasts, Millennials are expected to drive two-thirds of household formations over the next five years.
New-home sales rebound: Single-family new-home starts barely budged in 2014 compared to 2013, and new-home sales remain far from normal levels. But that could finally turn around in 2015. Sales of new homes are expected to rise 25 percent as single-family construction picks up traction in 2015. The National Association of REALTORS® projects single-family housing starts to rise to 820,000 in 2015.
Drop in oil prices will boost housing: Oil prices have plunged 45 percent since June, which could inadvertently provide a lift to the housing market. “Households in the U.S. spend more than $1,800 on energy-related costs annually, and 22 percent of that energy consumption is due to residential real estate,” according to CoreLogic’s 2015 Housing Outlook. “So while the drop in oil prices typically has been linked to a reduction in driving-related expenses, it clearly also reduced energy-related expenses for residential real estate.” More insight seen HERE
January 2015- A new year creates a greater motivation for Ian Schwartz with The Ian Schwartz Group to exceed top producing, high ranking results seen in 2014 with even better real estate performance this year. With a client centered approach, Ian and his team members Jenna Plakas, Victor Elting, Wendi Gordon Shelist, and Michael Shin combine talented forces to ensure that your overall Chicago real estate experience is outstanding. If you are a buyer, no stone will be left unturned to find you the perfect home. If you are a seller, Ian and his team will pour their hearts and souls into effectively marketing your home internationally online and in print to have it seen by the largest audience possible. Happy New Year Chicago! #CBRocks!