How Rising Gas Prices are Affecting the Real Estate Purchasing Process

Gas prices have been rising, and everyone who is strapped for cash has certainly noticed. What does this have to do with the housing market; one might ask. Well as you already know, the commute to work these days seems longer and longer when you start to consider the cost of gas. Everyone on a budget dreads the day they have to fill up, so if you are one of these people; you are most likely NOT in the market to buy.

                                                                                    Chicagoland realtor

People who are financially stable are the ones who may be looking for a new home, and you better believe they are thinking about the location. This is why more rural areas may be taking a hit; people want to be closer to their workplace, and with gas being at nearly five dollars a gallon it really does have a huge impact on peoples decisions.

                                                                                    Chicagoland realtor

On the other hand, it doesn’t necessarily have much of an impact on housing cost. The upturn in the market has been moving in the right direction for the first time in six years, so the rise in oil prices shouldn’t be a massive game changer. This doesn’t mean that people aren’t being cautious, because they are. It is in the back of people’s minds and it could make buyers a little more hesitant when considering a home.

                                                                                    Chicagoland realtor

The one market that has been doing well and is continuing to do well; is in the urban areas. These homes and apartments are much more appealing in an economy like ours. Your Chicagoland realtor can help you find a suitable home that will be beneficial as well as economical to you and your family.

                                                                                    Chicagoland realtor

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Know when to hold em’ and know when to SHOW em'

When was the last time anyone went house hunting in the dead of winter? Unless you are really desperate or you live in a tropical climate, its not going to happen. Finding a house is a pain by itself so why make it worse by adding cold to the equation?  When you decide to sell your home, it is wise to consider the weather. Your Chicagoland realtor is familiar with a homeowners demand to sell, but before you get your heart set on moving out and buying a new home, think about buyer desires.

Moving is a hastle, you have to rent a huge truck and get all your belongings packed away for the long haul. Is it ideal to do this in the wintertime?  I don’t think so. People have to worry enough about their belongings getting to a new place in one piece, let alone being destroyed in poor weather conditions. This alone gives most buyers enough reason to wait.

                                                                                                Realtor in Addison

Warm and cozy is how many people like to envision their home, not cold and damp. Showing your home in the winter makes it hard on your prospects, and also could potentially have an effect on the condition of your floors. The last thing you need is a big stain on the floor of a home you are trying to sell.

                                                                                                Realtor in Itasca

Spring into showing your home. When you see the flowers are blooming and hear the birds chirping, you know its time to show your home. Your Chicagoland realtor will tell you that the highest success rates for selling a home is undoubtedly in the springtime. This way people can really take in the home; they don’t feel rushed into the house, and can take a better look at the atmosphere.

The curb appeal really pops in the springtime so keeping up on yard work will drastically beautify your home. Most of the time the woman in the relationship has more say as to what house is “the one” so appealing to the female persuasion might give you a leg up in the sale.

In the market today, and always, the time at which you choose to show a home has a large impact on the sale. You have to know when to hold em’ and you have to know when to show em’. So talk to a Chicagoland realtor today, and make the right decision.

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The Homeowners Guide to Selling

1.     Find an agent

When it comes to selling your home, the first thing you should is find a real estate agent that knows your area and is familiar with buyer desires. Once you find a Realtor that is right for you, negotiate a contract and listing agreement.

2.     Prepare your home

Now is when you should start getting your home ready for sale. This includes tidying up your home and making the imperfections less noticeable, taking care of issues with plumbing and electric, and most importantly keep up appearences of the outside. Curb appeal is sometimes overlooked, but that is the first thing people see so making your home more inviting can often bring in a lot more perspective buyers.

3.     How much is your home really worth?

This is a huge step that many sellers have problems with. Though your home may be your idea of perfection, it isn’t always the case. Get your home appraised and find out what it is actually worth. A lot of times it will be less than expected, but overpricing your home will deter buyers and leave you with a home for sale and no prospects.

4.     Getting in the public eye

This stage of the process is also a very important one, but many times is put off and never gets done. Making sure people know your house is for sale has become much easier considering advantages of the Internet. Your Chicagoland realtor will draw up a marketing plan that is right for you, making your house available for buyers to see.

5.      Know when to hold em', and know when to SHOW em'

Showing your home will give buyers an inside look and give them a surreal feeling that this could potentially be their home. Timing is crucial, your realtor will tell you that. A home will have more interested buyers in the springtime. And who can blame them; nobody wants the go out in the blistering cold to see a house. The weather has an outstanding effect on people and choosing there right time to show your house can be critical.

6.     Negotiate existing offers

If someone makes you an offer, don’t jump the gun and sell right away. Your Chicagoland realtor is aware of the tactics that buyers may use when making an offer. The lowball approach is a popular one which slows the process drastically. If the buyer doesn’t give you a realistic offer it is best to just wait for a serious buyer that is willing to work with the listing price.

7.     Open escrow time!

After finding a price that works for both parties there is a hold put on the finalization of the sale. There is a neutral third party that holds the purchasing funds on behalf of the buyer, and makes sure everything is in order before any exchange is made.  The realtor you choose will guide you through the process and help you understand why it is important.

                                                                                                      Realtor in Addison

8.     Be Prepared for inspection

Your Chicagoland realtor will provide you with a checklist prior to inspection. It is ultimately up to you as far as fixing problems goes. The smoother the inspection the faster you can sell, so making your home up to code is before your forced to is definitely a good idea. Also keep in mind that the buyer is given all the information about the house.

9.     Disclose all necessary information

The buyer must be informed on all manufacturing and material facts. For instance, all homes are subject to lead-base paint disclosures. There are also restrictions the homeowner must obey. These are non-negotiable regulations that will be provided in the CC&R’s.

10.   Have the buyer release contingencies

Once everything is properly covered, all inspections are passed, and all the information is disclosed, yourwill advise you to ask the buyer if the would release the contingencies. If they do not provide a release, then there is no obligation to buy. Meaning the buyer can back out at any time, and you will have gone through all that work for nothing.

                                                                                                       Realtor in Itasca

11.   Sign the title and close the escrow

This is the final stage of the selling process. You will normally sign the deed to a title company who then sends the information to escrow. If everything goes accordingly, the house should be able to close soon after. If you are not familiar with this process, your Chicagoland realtor sure is, and he will help you get everything in order to help close your house.

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