Ajjamroz, Home Seller in Chicago, IL

I'm considering listing my property for a fairly quick sale. It's on M119 with a bluff/lake view

Asked by Ajjamroz, Chicago, IL Fri Oct 17, 2008

The house is 3000 sq ft custom home, 3 bed 3 bath 4 car garage. What can I expect to get in about a 6 month listing?

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In the current "lenders market", if you do not need to sell, I suggest not placing the home on the market. Most homes, even custom built, are selling below owners expectations and many are selling below twice the State Equalized Value.

If you are still considering selling, real estate professionals will ask you for your home's address. They will then need to come to the property to view the floorplan and condition of the home. I would suggest having at least 3 real estate professionals submit their range of values and marketing plan (written) for your property and choosing the one with the best marketing plan.

If you cannot find some local agents I can refer you to some.
Web Reference: http://mi-living.com
1 vote Thank Flag Link Sat Oct 18, 2008
I'm not a realtor jumping on the bandwagon here -- it seems everyone wants your listing, but is also not realistic. I'm just a person who follows the market and has bought homes in both MI and FL. We are not at the peak where we once were and much now depends upon the home, how much work is involved in bringing it up to current standards, what updates have been made over the years. Homes reached a very high (overpriced) pricing years ago and we know why, and it is about to happen all over again. I agree with the 6 or 7% to do very little. 3% and you also put it into For Sale By Owner or sell it yourself. From experience, realtors do very little while waiting for the phone call. I only know of one in Harbor Springs who is absolutely at the top of this field and actually WORKS your property to get it sold and he's honest. Even so, sell it your self. Here is the thing you need to keep in mind - DO THE NUMBERS, you may want $400-$600K (only hypothetically), and it is not selling in 3, 6 or 9 months (winter months are not the best selling months for any home!)... Do you drop your price? Take it off the market? Give up? add up your taxes, your utilities, your insurance, all of the items that equal a monthly or annual cost and do it realistically. So if this house costs you $20,000 a year, and in two years you have not sold it, you've lost another $40K. If you lost $40K you probably drop your price and get more reasonable. Don't go too low but you must honestly go thru the house and do this without emotion. Because if you let emotions get in the way, it will always be worth more to you than what someone may offer for it. And paying a realtor $24,000 at 6% is ridiculous when you lose a great deal of money for every year you don't sell. So consider how you price it, I've seen too many realtors here price way too high, and some way too low because realistically it does not matter to them "they get their check". Remember also, women are more the decision makers when it comes to buying a home.... and the kitchen and master bed/bath are the key areas we look at it first. If we don't like the kitchen... we ain't gonna buy it unless it is not going to cost a great deal to fix what we don't like! Good luck!!!!! We just bought a home in Harbor Springs!
0 votes Thank Flag Link Mon Sep 30, 2013
If you use a real estate agent negotiate the commission! They may say the won't, but do not deal with a real estate person that won't. They are usually at ~7%. Tell them you'll give them 4% if they sell within 60 days and 3% after that. They will all tell you how hard they work, but trust me I know... most sit around and wait for the phone to ring. This way you give them goals to reach.
0 votes Thank Flag Link Tue Nov 20, 2012
Ajjamroz, hi when pulling comps in the west & little traverse townships with the sq footage and not seeing the home I would say right around four hundred thousand would be your sales price, that is what 3000 sq ft homes have averaged in the last year being owner owned homes, foreclosures are going for less. Would love to see your house and get it listed for you. Please call Debra 231.632.6353. Thanks and have a great day! email: schirmer@freeway.net Thanks

PS just realized you had the extra storage so that will be a plus!
0 votes Thank Flag Link Sat May 9, 2009
Are you still thinking about selling your property on M-119? Considering the drop in mortgage rates as of yesterday, I expect that will encourage Buyers to get out and take advantage of the current rates; which Is a great reason to put your property on the market now. I specialize in the residential, vacation and second-home market. If you are interested, please give me a call at: 231-881-9989 or email me at: sally.teal@cbgreatlakes.com.
Sally Teal
Coldwell Banker Schmidt Realtors of Harbor Springs
0 votes Thank Flag Link Thu Dec 18, 2008
Without more information it is difficult to even quess! I am a Harbor Springs Real Estate agent
at Coldwell Banker Harbor Springs and I actually live on M1-19 (in the Good Hart area). I have sold several area waterview properties in the last year and I am familiar with what is currently available. If you want to send me your e-mail address, with a little more information on your home, I can send you our area MLS links to the homes that have sold and those currently on the market. Any questions, e-mail me at gafill@core.com or feel free to call 231-838-1030
Debbie Gafill
0 votes Thank Flag Link Wed Dec 10, 2008
Good morning Ajjamroz,
Having just read your inquiry, and Gary Smith's response, I have to concur with his recommendations.
In Harbor Springs we have seen a slight leveling off of home values, however we have seen a slight increase in activity over last year. I am a realtor with Coldwell Banker Schmidt in Harbor Springs and I would be happy to take a look at your property and then put together a marketing plan to sell your property for a "fairly quick sale", if you are still interested.
Please contact me at: sallyteal@charter.net or 231-881-9989.
Thank you,
Sally Teal
0 votes Thank Flag Link Sat Nov 22, 2008
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