education

Small Upgrades Now Mean Big Returns Later

 

 

It’s not uncommon in today’s real estate market for sellers to make repairs and renovations to their home to make it more attractive to potential buyers. These upgrades can drastically improve a property — so much so that the homeowner may rethink selling!

Investing approximately one to three percent of the asking price into your home initially often yields returns of around eight to 10 percent. If you’re thinking of selling in 2016 or simply want to upgrade for the new year, here are some recommendations that will make your home more appealing to you and potential buyers.

When One Door Closes

Replacing your front door can change a home’s entire exterior appearance. According to Remodeling’s 2015 “Cost vs. Value Report” for the Chicago area, installing a steel door for $1,391 results in 100.8 percent cost recuperation, while a fiberglass door for $3,196 results in a 92.2 percent recuperation. Design blogs and DIY television shows recommend painting your door a bright, bold color. However, if you plan to sell, a neutral color with a decorative glass panel is the more profitable decision.

Less is More

Brokers surveyed in the National Association of REALTORS® (NAR) 2015 Remodeling Impact Report said that a kitchen upgrade was the top interior project for attracting buyers. Full renovations may have seen bigger payoffs in past years, but this trend seems to have changed. Instead of completely replacing cabinetry, install refreshed fronts and new hardware. Swap out laminate countertops and repaint trim for a more modern look and feel.

From the Ground Up

New and refinished floors are a huge draw for buyers, as well as a source of pride for any homeowner. Based on cost estimate from the national Association of the Remodeling Industry and NAR’s estimated cost earned, 91 percent of the project cost was recovered for new wood floors and 100 percent of the project cost was recovered for refinished hardwood floors.

If you’d like to know what home improvements are the most popular in your local community, let’s talk. I can provide valuable insight and guidance so you can accomplish your real estate goals in 2016.

A Simple Tool to Help You Understand Your Local Market

Real estate is a constantly changing marketplace, and knowing how your neighborhood is performing will keep you on top of the action. Baird & Warner’s Market Insight allows you to see all of the real estate activity in your specified area. Select the community you’re interested in learning more about, and you can choose to receive emails that provide you with all of the real estate transactions and details specific to that selection. This interactive report charts such data as sold homes, properties for sale, inventory levels and even days on market. Please contact me if you’d like to sign up.

7 Steps to a Safer Home for the Holidays

One of my colleagues sent me this article and I thought it was a good to share with everyone.

Gearing up for guests this holiday season? If so, now’s the time to ensure your home is safely prepared for company. According to the remodelers of the National Association of Home Builders (NAHB), homeowners who expect visitors, especially elderly individuals, should assess their homes for hazards, and, if necessary, increase accessibility to accommodate their needs.Home

“Welcoming loved ones to your home is a cherished holiday tradition,” says NAHB Remodelers Chair Robert Criner, a remodeler from Newport News, Va. “By making some simple home modifications, you can ensure that family and friends will enjoy a comfortable visit and be able to maneuver around your house without trouble this year.”

Steps to take include the following:

1. Secure rugs and carpets. Secure area rugs with non-slip pads or double-sided carpet tape so that they are snug to the floor. Temporarily remove throw rugs, including bathroom mats, to prevent guests from tripping on the edges.

2. Test stair railings. Check that stair railings inside and out are tightly fastened. Make repairs where needed.

3. Turn up the lights. Put night lights in bathrooms, the guest bedroom, hallways and in the kitchen. Make sure there is a lamp or light switch within reach of the guest bed so that your visitors can keep a light on until safely tucked in. Well-lit outdoor walkways and entrances are also important when coming or going at night.

4. Clear outdoor walkways. Rake leaves, salt for ice and shovel snow from sidewalks and driveways to prevent falls.

5. Add non-slip treads or a mat to the shower. Be sure the shower your guest will use has a non-slip floor. To enhance traction, apply non-slip strips or a suction-attached non-slip mat.

6. Offer the best seat. Choose the best seat for your guest’s comfort—not too high, not too low. A firm cushion can prevent them from sinking too low in to the seat, and arms can help a person easily get up and down.

7. De-clutter. Move objects or even furniture that a person usually has to maneuver around. Secure cords to the wall or baseboards with hooks to prevent tripping. Clear stair steps of any objects, such as shoes, books and other personal items, that tend to collect on the lower treads.

Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

5 Reasons to Hire a Real Estate Professional Today!

Great post today by our friends at KCM.

5 Reasons to Hire a Real Estate Professional Today!

by on July 20, 2015

5 Reasons To Hire A Real Estate Professional Today | Keeping Current Matters

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream.

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $208,700 compared to $235,000 among agent-assisted home sales.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line:

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of your most important financial decisions of your life without hiring a Real Estate Professional?

Top Public High Schools in IL

Recently at my son’s lacrosse practice the conversation of high schools were brought up. For some of us the lacrosse program matters, others the music program, others the Honors courses and for some it was class size. For some of us we each had a few of the same qualities we were looking for.

As a Realtor I told my friends and fellow lacrosse parents to check out the latest listings for high schools.

This site lists the best public high schools in IL:

Here are the Top 20:

1 Adlai E. Stevenson High School Lincolnshire, IL

2 Payton College Preparatory High School Chicago, IL

3 Young Magnet High School Chicago, Illinois

4 Northside College Preparatory High School Chicago, IL

5 Glenbrook North High School Northbrook, IL

6 Glenbrook South High School Glenview, IL

7 New Trier Township High School Winnetka, IL

8 Hinsdale Central High School Hinsdale, IL

9 Vernon Hills High School Vernon Hills, IL

10 Libertyville High School Libertyville, IL

11Neuqua Valley High School Naperville, IL

12 Deerfield High School Deerfield, IL

13University High School Normal, IL

14Highland Park High School Highland Park, IL

15Evanston Township High School Evanston, IL

16 Naperville Central High School Naperville, IL

17 William Fremd High School Palatine, IL

18 Barrington High School Barrington, IL

19 Lane Tech College Prep High School Chicago, IL

20 North High School Downers Grove, IL

Looking at Homes Online Versus In Person

I read this great article which I think is worth sharing with the public. The article can be read at http://www.greatcoloradohomes.com/blog/looking-at-homes-online-versus-in-person.html

Looking at Homes Online Versus In Person Real Estate Infographic

1.) Don’t Trust Room Sizes by the Photos

Good photographers know how to make a space look larger than normal by using wide angle lens and imaging software.

2.) It’s Not Always As Clean As It Looks Online

It’s very hard to tell how clean a home is from the photos online. Experienced sellers have been preparing their home for months in advance by doing repairs, painting, rearranging furniture, etc. When it comes time to take the listing photos, they are exhausted. They will do a deep clean in all the main areas, but not necessarily throughout the whole house. When you visit the home, you may find that the closets, secondary bedrooms, bathrooms, and/or garage spaces are not very clean. Dusty blinds, baseboards, and decor can reveal a home that is not cleaned as often as the online pictures may appear. This can be a major turnoff for many homebuyers.

3.) What’s That Smell?

Picture this: You have been looking at homes for a couple of months and you haven’t found the right home yet. Your agent sends you a listing that just came on the market and IT’S PERFECT! You stop everything and rush to view the property immediately. You get to the home and are eagerly waiting at the front door for your agent to open it. As soon as the front door opens, your nose is inundated with the smell of a thousand city zoos. Aromas of cats, mixed with a hint of monkey and lama all dominate the air space. You really want to look at the home, but all you can think about is the overwhelming smell of animals. This is a classic scenario that every Realtor deals with. In my opinion, it’s probably the hardest issue to overcome when I’m showing homes. When I’m in a home with strong pet odors, it’s almost impossible to focus on anything other than, “lets get back outside.

Here are some professional home shopping tips to consider when looking at homes online:

1.) Don’t Get Emotionally Attached

Remember, you are being marketed to when you are looking at homes online. Every listing is a commercial. Just know that there are a lot of details being left out of the listing. Only the strongest selling points of the property are being displayed.

2.) Use a GOOD Real Estate Agent

Make sure you have a REALTOR who will point out the positive AND NEGATIVE aspects of each home. If your agent only points out the positive points, they are just trying to sell you a home. Find an agent that is less of a salesperson and more of an advisor. You should be the ultimate decision maker and in control of the whole buying process. Once you find a good advisor, be sure to listen to them and USE their experience to your advantage.

3.) Try To Be Patient

Once you get that pre-approval letter in hand, the desire to find a house can cause a sense of urgency for some home buyers. Try to resist the temptation to speed up the home buying process. Remember, buying a home is not like buying a pair of shoes. It’s a major life-altering decision. Impulse shopping in real estate can have tremendously negative consequences. Get ready to invest time and energy to get the perfect place. It well be well worth it in the long run.

4.) Don’t Avoid Listings with Bad Pictures

In the same way that pictures can oversell a property, they can also undersell one as well. Many real estate agents are not tech savvy. Some of them use terrible photography methods, omit staging advice, and their listings suffer for it. If a property meets your criteria but doesn’t look great in the photos, it may still be worth checking out. You don’t want to miss the perfect home just because the listing is poorly created. I’ve had plenty of clients buy homes that they originally did not think they would like, based on the online listing presentation. This is just another area where having a good Real Estate Professional makes all the difference. It’s something to keep in mind while shopping for a home online.