The Thomas Team Blog: North Shore Chicago

Tuesday, July 19, 2011

Beat the Heat and Attract Buyers with an Open House for your Chicago North Shore Home!

Summer on Chicago’s North Shore has been taken to a whole new level this month with the unusually high temperatures. While some of you may feel this is exactly how summers should be, there are those of you who are just looking for ways to keep cool! We hope that you’ve been taking the necessary precautions as you enjoy time outside in your North Shore community as there’s always something fun to do.

If you currently have your home on the Chicago North Shore Real Estate market; the heat may actually play into your favor! You may feel that summer activities and vacations have many buyers on hold as they take advantage of the summer months. However, with the excessive heat, Chicago North Shore buyers may be looking for opportunities to stay indoors and keep as cool as possible.

Hosting an open house for your North Shore home within the next few weeks may be just the thing that will attract buyers to enjoy time indoors! If you do plan on having your Chicago North Shore Real Estate agent set up an open house, there are a few key things you can do that will make your home even more appealing to potential buyers.

1. First Impressions- Believe it or not, a nice doormat or attractive porch can really set the tone for the entire open house. If there’s an old doormat, chipped paint or nothing special about the entrance to your home, buyers may feel that you don’t really care. A welcoming setting from the start will instantly let buyers know that your home is well-maintained and that each area of your home is cared for.

2. Get to the Heart- The best way to appeal to the buyers’ heart is through offering something special when they walk in the door. Whether you bake fresh cookies, or have cool lemonade for them on your counter, these added touches will set your home apart. Lighting a mildly scented candle and having your home cooled can be a welcome retreat from the heat and can make your home instantly feel comfortable to the North Shore buyer.

3. Make it Generic- It’s great to make your home personal; however your pictures, children’s art or your “to do” list on the refrigerator can be a large distraction to potential buyers. They need to be able to envision themselves in your home, so putting away those personal items will help buyers picture their life in your Chicago North Shore home.

4. Clear Counters- Look at your kitchen or bathroom counters from a outsiders viewpoint. Do you have too many appliances cluttering your kitchen counter? Clearing this space will make there appear to be more room for cooking or their own storage. If your bathroom counters are filled with perfumes, toothbrush holders, etc… take time to put them in cabinets or drawers so buyers can see the actual size of the space.

5. Set the Table- This may not seem necessary, but having your dining room table set with nice place settings add a touch of class and can help the Chicago North Shore buyer envision hosting their own dinner parties.

6. Don’t Stick Around- While it may be tempting to want to hear what the potential buyers have to say, it can be awkward when the seller is present. They will feel that they can’t openly express their thoughts to the agent and will not feel as comfortable when looking throughout the home. Even if you take a walk through the neighborhood, being away from the home during an open house can make all the difference.

These six practical tips can be just the thing that helps your North Shore home stand out from other homes currently on the Chicago North Shore Real Estate market. If you have been considering selling your Chicago North Shore home, but aren’t quite sure where to start; please let us know!

As a team of experienced Chicago North Shore Real Estate agents, we’ve helped many people sell their North Shore home in a timely and efficient manner. We would enjoy the opportunity to meet with you over an iced cold drink, or even ice cream, to discuss your home selling needs as well as walk with you throughout the entire home selling process.

Please feel free to contact us today to get started!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage

Tuesday, July 12, 2011

How to Deal with a Low Ball Offer on Your Chicago North Shore Home

As Chicago North Shore Real Estate agents, we know that selling your North Shore home can seem like an overwhelming experience as we see the national housing market leaning more in the favor of buyers. Last week, we talked about some great tips for selling your North Shore home and some things you can do to make it stand out from other homes on the market.

So, what happens if you follow those tips and your home is in excellent condition and primed for sale, but you are not getting the offers you expected? It can be tough to know what to do in that situation and can be disheartening as you’ve put so much effort into your North Shore home. It can seem that you’re back at square one and are not making any progress as you deal with these low offers. We thought it would be helpful to tackle this topic of dealing with low-ball offers and give you some tips on how to turn it into a positive situation.

1. Consider the terms- Price is important for most North Shore buyers and sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is pre-approved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

2. Counter the purchase offer- Unless you’ve received multiple purchase offers on your Chicago North Shore home, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay or they want to test your limits.

A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.

3. Get the agents together- If the purchase offer is too low to counter, but you don’t have a better option, ask your Chicago North Shore Real Estate agent to call the buyer’s agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel more free to reject the offer.

4. Review your comps- Ask your Chicago North Shore Real Estate agent whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

5. Consider the buyer’s comps- Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that your Chicago North Shore Real Estate agent provided for you when you first decided your asking price. If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps or their reasoning behind such a low offer.

6. Don’t signal desperation-Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer. If you can remedy the situation, maybe by renting furniture or asking your Chicago North Shore Real Estate agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.

Our team of experienced North Shore Real Estate agents understand all that goes into selling a home in today’s market. We know it can be challenging and that’s why we’d love to help you walk through this process! As always, our door is open to talk with you about the North Shore Real Estate market or any other questions you may have about buying or selling your Chicago North Shore home.

We look forward to hearing from you and helping you get your home sold!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage

Tuesday, June 21, 2011

Celebrate Art This Weekend in Chicago's North Shore!

As Chicago North Shore Real Estate agents we enjoy, not only helping people buy or sell a North Shore home, but helping them discover the North Shore lifestyle. Living in Chicago’s North Shore means being surrounded by a wide variety of things to see and do. Whether you venture into downtown Chicago for a night on the town, or want to take in the local park in your neighborhood; living in Chicago’s North Shore has much to offer.

An example of life in the North Shore is taking place this weekend with the 14th Annual Highland Park Festival of Fine Craft. This free, two-day outdoor event runs Friday, June 25 through Saturday, June 26 and is open to everyone! Come experience the craftsmanship and creativity of over 100 local artisans. You’ll enjoy live entertainment, activities for children, high quality foods from local restaurants and a silent auction. This anticipated event gives Highland Park residents the opportunity to meet local artists and buy directly from them, which is a great way to interact with the Highland Park community and give back to its committment to art.

The Highland Park Festival of Fine Craft benefits The Art Center of Highland Park. This center is a non-profit school and gallery with a focus in providing the best in contemporary art and craft to Highland Park. The Art Center is celebrated for advocating for local artists and building a community wide appreciation for the arts through educational programs and exhibits. To learn more about The Art Center or the Highland Park Festival of Fine Craft; please visit The Art Center website.

It’s special events like this that take place throughout Chicago’s North Shore that builds a sense of community and an unparalleled quality of life. If you’ve been considering buying a home in Highland Park or any of the surrounding cities such as Evanston, Winnetka, Kenilworth, Glencoe, Skokie, Glenview, Wilmette or even Chicago; please let us know!

We would be more than happy to answer any questions you may have about the North Shore Real Estate market and even show you some of the homes that are currently available in Chicago’s North Shore. Our goal is to help you find the home that fits your needs and lifestyle while being a trusted resource that can help you get comfortable with your new surroundings. Please feel free to contact us today with your questions or to get started in your Chicago North Shore home search!

We hope to hear from you soon!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage

Tuesday, June 14, 2011

Consider These 5 Tips Before Buying Your North Shore Home

We hope you’re all enjoying the early summer days here on Chicago’s North Shore! It is a beautiful time of year to get out and take advantage of your North Shore neighborhoods local events, parks and outdoor activities. For many, the warmer weather offers a great opportunity to do the house hunting they’ve been wanting to do this year. An abundance of new homes on the North Shore Real Estate market and plenty of open houses provides you with a great chance to see what’s currently on the North Shore market.

If you are considering buying a North Shore home this year, you’ll want to be sure to take note of these five tips before beginning your home search. While now is a great time to buy, the past few years have brought about some changes to the home buying process. As Chicago North Shore Real Estate agents, it’s our goal to keep you updated and well informed on what buying in today’s market entails.

1. Live Within Your Means- This is a lesson that our country seems to be learning collectively. We’ve seen the damage that can come from buying homes we can’t afford and digging ourselves further into debt. Buying a North Shore home that fits your budget as it stands now will give the home a chance to appreciate. In the long run, your finances will be healthier and you’ll more than likely be able to afford your dream home next time around.

2. Think Long-Term- When buying a home in today’s market, you want to plan for the future. Consider your basic needs such as security, proximity to your job and other daily activities, the school system and room to grow if need be. You want to plan to be in a home for a minimum of three to five years.

3. Research and Take Advantage of Low Rates- Many lenders are encouraging buyers to lock in a long-term loan, such as a 30-year mortgage, to ensure taking full advantage of the historically low interest rates. An adjustable rate mortgage can work for some buyers, but you’ll want to discuss with your Chicago North Shore Real Estate agent about which option is best for you.

4. Be Prepared to Make an Offer- Before you even begin searching for your North Shore home, you’ll want to get pre-approved for a loan. This not only helps you determine your home buying budget, but will make the process run much more quickly once you’re ready to make an offer. This will also force you to get your credit in order and gives you the opportunity to correct any credit issues before entering the North Shore Real Estate market.

5. Find a Recommended Chicago North Shore Real Estate Agent- Having the right agent journey with you through the home buying process will make all the difference. Conduct research online or talk with family and friends to get their recommendations. Many North Shore Real Estate agents have testimonials on their websites that will give you a good indication of other buyer’s and seller’s experience with that agent. You’ll want to find an agent who has experience in the Chicago North Shore Real Estate market and with whom you feel you can work with for however long it takes for you to find your North Shore home.

We hope these home buying tips are helpful as you begin the house hunting process! If you have further questions or would like more information about current homes on the market, or about the North Shore Real Estate market in general; please feel free to contact us anytime! Our goal is to make buying a North Shore home a relaxed and efficient process and would love to help you each step of the way!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage