Saturday, November 14, 2020
Question: We are thinking of Selling our Home by Owner. What is the reason very few sellers sell on their own?
Friday, November 6, 2020
Home on the (not so normal) Range....
- We can't say we've seen a housing market like this in our career. Incredible demand and very low inventory make this a "Super Sellers" Market. That's a mild way to put it. Some would call it "Super Crazy" Market.
Multiple offers on homes is the norm, with some offering $30,000 over list price, hoping they will be chosen by the seller to buy their home.
Unfortunately, an appraisal probably wont agree with this inflated sales price.
- Let's face it, some of the over list price offers are buyers going with the odds that the home wont appraise and the seller may want drop down to the appraisal price. It's a chance to take because appraisal and home inspection fees can cost up to $900. Buyers are going to the extremes to ensure they are able to buy their dream home. The perfect selling scenario: A seller who has kept their home looking good and who is buying in an area where prices have not seen this growth. We think it's also been termed "selling high and buying low."
- Chicago area buyers are looking to the affordability of the South suburbs for their home choice. We've heard crime and covid have something to do with this. They are players in these price wars.
- Illinois buyers moving to Indiana face lower taxes, but much higher prices/sq ft. In other words they get less for a higher price. It's easier to build your dream home in NW Indiana than it is to try and find your dream home. But, building a home is not cheap.
Friday, October 9, 2020
Wednesday, October 7, 2020
Question: We signed a contract to sell our Home contingent on the buyer getting a loan approved & closing it by a given date. The buyer did not get the loan & the deal was off. We started showing the house again, but have now found out that the buyers got financing through a different bank & they can close by the original deadline. Are we still obligated to close or can we change the contract to better ourselves?
Tuesday, October 6, 2020
While there is Covid and High Crime in some areas of Chicago, Home Sales in the south suburbs and NW Indiana are Incredible. If you are thinking of selling, now is the absolutely best time to do it, in our opinion. Low Interest rates have made more buyers able to purchase a home. High demand is raising prices. High Demand and Low Supplies make it a great Sellers Market. Who knows what will happen after the November Election.