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Home Selling in Naperville : Real Estate Advice

  • All384
  • Local Info15
  • Home Buying104
  • Home Selling23
  • Market Conditions22

Activity 21
Fri May 31, 2013
Simir Shah answered:
Have your attorney send a letter with a deadline and if they do not respond send a mutual cancellation letter and stick you house back on the market. Are you using a realtor?
0 votes 12 answers Share Flag
Thu Nov 29, 2012
Marianne Hofmann answered:
Jeffrey,

I believe that your condo may sell for less than $90,000. There are two condos on the market currently listed for $79,900 and $82,450, respectively. The one condo that sold was for $80,000. I am sorry that you will be taking a loss.

Marianne Hofmann
Charles Rutenberg Realty
630-664-9472
www.mariannehofmann.com
mariannehofmann@att.net
... more
0 votes 4 answers Share Flag
Thu Aug 16, 2012
Ron Thomas answered:
The Buyers are voting with their offers:
To begin with; it sounds like you are trying to do this yourself, no Listing Agent.
Then, do you think $99,999 is fooling anybody; it is kind of insulting.
Lastly, 74 days without an offer is screaming at you; are you listening?

check my blurb on LISTING PRICE.

LISTING PRICE
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
... more
0 votes 13 answers Share Flag
Wed Apr 10, 2013
Michael Huffman answered:
In my opinion your focusing on the wrong thing. If your looking to sell quickly and dont want to make major updates to the home, then you need to focus on price. I do have blog on preparing your home for sale at: http://yourdenverhouse.com/fine/real/estate/blog ; This should help you, but ultimately every transaction comes down to value. If your price is the same as the updated home next door, a buyer will pick the updated home. Your price should reflect your homes condition for a buyer to see the value in purchasing your home. A Realtor should be able to assist you in pricing your home properly for the current condition. ... more
0 votes 7 answers Share Flag
Wed Jul 25, 2012
Marianne Hofmann answered:
Marykay,

Do you have an offer from a builder? If so, does the price satisfy you? Also, it might matter where your home is located. A family might love to have the double lot. Please let me know if I can help.

Marianne Hofmann
Broker, e-PRO
Charles Rutenberg Realty of IL
630-664-9472
mariannehofmann@att.net
... more
0 votes 6 answers Share Flag
Tue Dec 4, 2012
Ken Tracy answered:
I am definitely not on that list...
Yet. :)
0 votes 7 answers Share Flag
Wed Jun 20, 2012
Anna M Brocco answered:
This question should be directly asked to the attorney, none of us can accurately answer for him/her.....
0 votes 8 answers Share Flag
Fri May 4, 2012
David Field answered:
Hello,

Kitchens and Baths sell homes!!!

Anything you can do to improve the kitchen will go far...stainless steel appliances and granite countertops are "key" keyword searches for listings to be picked up on with consumer internet searchers so those would be my top two things to consider. You will get a good ROI for the investment you make with these two improvements, both with money invested but also in a greater chance of a shorter selling time.

There are many other bits of advice I could suggest...if you have a budget in mind I can narrow it down and be more specific for you. Check out www.homefieldrealtors.com for lot of good advice and for my contact information.

Regards,

David Field
Broker, Owner
Home Field Realtors
... more
0 votes 5 answers Share Flag
Thu Dec 22, 2011
Marianne Hofmann answered:
I handle things a bit differently. I get all the information about the home from the seller. This is done over the phone. Then I retrieve the tax records and do a complete comparative market analysis of the home. This tells the seller and me how the home should be priced.

Giving YOU The Best Real Estate Experience Possible,

Marianne Hofmann
630-664-9472
... more
0 votes 9 answers Share Flag
Mon Oct 10, 2011
Marianne Hofmann answered:
Hi Megs,

I don't know which Naperville Realtor has the highest volume of sales, but I do know that what is really important is how your home is marketed and how often you receive feedback from your Realtor. Does the Realtor have testimonials that you can view? You should be able to see them on the Realtor's website.
Please let me know if I can be of further help.

Giving YOU The Best Real Estate Experience Possible,

Marianne Hofmann
... more
0 votes 7 answers Share Flag
Thu Jan 2, 2014
Alex Pereira and Secure Realty answered:
As a real estate professional I not only help folks with real estate but I personally buy and rehab properties with my crew all the time and in today's market upgrades can mean weeks off marketing time . I can tell you that given 2 homes a person intends to live in with a 10K price difference because of upgrades most buyers tend to buy the nicer of the two homes. Most people realize the 10K is really a small amount to their payment and would rather have the nicer home. If you are targeting budget conscious people then no granite is the answer but if granite is the norm in your area then those folks are probably not your target demographic. Selling Real Estate in my opinion is a lot like going to a high school dance; the pretty girls get asked out first and always get to go and in real estate its no different. ... more
0 votes 10 answers Share Flag
Sun Sep 12, 2010
Rich Ayers answered:
I would definitely consider renting it at this point. As we slip into Fall, it will get a little harder to rent on average. BUT, there are many folks looking for rentals at this point. We usually have our rentals filled in 30 days or less.

We manage many rental properties in the area. I would be happy to answer any of your questions. Please feel free to read about our services at www.AyersTeam.com and click on the Investor tab to read about our Leasing and Property Mgmt services...

I prefer to write leases that end in the spring time - roughly Apr to Jun. It is easier to re-fill or sell at that point. I would just write the first lease for roughly 18 mos...

Rich Ayers
Broker/Owner
Crescent Lake Realty, Inc.
630-430-5927
... more
0 votes 7 answers Share Flag
Sat Sep 11, 2010
jeff donnellan answered:
You're asking all the right questions. Of course your home will look better with improvements, but it would be difficult to advise how much is necessary vs. how much would be needed to sell your home with out seeing it's current state. A comparative market analysis is the best way to understand what other homes in your neighborhood are selling for and what kind of features or improvements they have done in order to sell. In some cases, "as is" homes sell much faster because almost everyone is looking for a deal, but depending on the price range others want a home in top condition. I would be happy to speak further about this, please feel free to contact me. ... more
0 votes 7 answers Share Flag
Thu Sep 9, 2010
Al Raymondi answered:
Maybe the other homes for sale are priced over the true market value. If they are lelling at the higher prices your one lower sale will have little impact on overall values. If the others are not selling they are overpriced and they will need to lower their price eventually to get sold unless the market values increase to get to where they are priced. ... more
0 votes 7 answers Share Flag
Wed Jul 25, 2012
Mike Long answered:
Brick...I don't deal with rentals so won't be much help but remember you from previous discussions. Wanted to wish you the best of luck and hope you find a renter as soon as possible. If I find any answers to your questions I will share them with you.

Good luck!!
... more
0 votes 3 answers Share Flag
Mon Jun 3, 2013
Anna Niklarz answered:
Hi Teri,
This sounds very fishy. First you need to find out what your property is worth. I would ask for a copy of a contract, or any agreement, and let a real estate attorney take a look at it and make sure this is not a scam.
What is this Zenmd Investments group gaining from this transaction? Is your home worth much more than your existing mortgages???
Most lenders do not allow someone else to assume your mortgage, you can not transfer your note to a new owner. If they are looking to buy your property, let them get their own financing or buy cash!
Good Luck! Anna
... more
0 votes 4 answers Share Flag
Thu Feb 12, 2009
Rich Knapp answered:
Hi,

Right now the statistics say 5-6 months. However if the market picks up and interest rates keep trending down, the time frame could shorten. It all depends on the condition of your home. I'm a full service Realtor with very good internet tools for selling your home. Contact me @ 630-202-9189, rknapp9@hotmail.com or www.RichKnapp.com.

Thanks,

Rich Knapp
... more
0 votes 6 answers Share Flag
Sat Oct 11, 2008
Michele Nixon answered:
Hi Barbie,

Trade-ins from builders occur when you're purchasing a new home from them. They come in various forms but the gist is that they will buy your home if it hasn't sold by the time you close on your new home. Sometimes they will give you a pre-determined price at the beginning. Sometimes they'll do an appraisal or two along the way.

The downside is the price offered by the builder is often far less than you would get selling the home yourself. There are a lot of questions to ask yourself and a willing builder that will determine if this is a good path to go down.

Not all builders will want to get into the business of marketing pre-existing homes but, in this market, you may find a few builders who would be interested.

Click the link below for more information. If you have any further questions, comments, etc., don't hesitate to contact me. Good luck!
... more
0 votes 3 answers Share Flag
Tue Aug 7, 2012
Jim Starwalt answered:
You should use a real estate attorney. If you are not using a real estate attorney, you need to find a title company and call them right away. Good luck with your closing/sale.
0 votes 11 answers Share Flag
Fri Jul 18, 2008
Christopher Walker answered:
Not the place to list this type of "question" and, cash back at closing schemes are.....ILLEGAL 99.9% of the time. Cash back at closing schemes are being scrutinized by lenders and the federal government landing many participants in a heap of trouble. Ignorance of the law is no defence. ... more
0 votes 4 answers Share Flag
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