HOME SALES UP FROM LAST YEAR

A little bit of positive Schaumburg Real Estate news. Even though home prices may be down the number of home sales are up in Schaumburg and over all of the Chicagoland Area. That’s a point not to be overlooked: Homes are still selling, and in fact this year they sold in larger numbers than last year. In the Chicagoland area, 77,792 homes were sold from July 1, 2009, to June 30, 2010, according to Midwest Real Estate Data (MRED). That’s a 29 percent increase from last year. Each one of those sales potentially provides a small boost to the sputtering economic recovery, with other home related purchases such as new appliances, furniture, and other home furnishings.

And who could blame a home buyer for splurging a bit on extras for the home when the house itself came at such an attractive price? Low prices in Schaumburg and other area and low mortgage rates have made this a fantastic year for buyers-that is. With money being so cheap your dollar will spread much further than years past. With mortgage rates as low as 4.25 percent, home prices low, and many homes to chose from you can exactly what you want at a great price. Now is a great time to get it all price, condition, quality and location.

If you are looking to get a deal on Schaumburg Real Estate or any other areas the winter may be the best time to do it. Generally in the winter people are more focused on purchasing presents than real estate. Typically sellers on the market are motivated to sell and banks want to get their inventory off the books before the end of the year. All of these signs point to you the buyer being able to get a great value on a home. So if you are really in the home market to get a good deal, you should really think about moving when it gets a little colder out because you can take advantage of a time that most people will not. What a better present to buy yourself and your family than a “home for the holidays”. And with the low prices and mortgage rates you may have enough extra cash over to buy some presents.

If you have want to search for all homes in the MLS fee free to go to www.AaronWittenstein.com. There are plenty of regular sales, foreclosure homes and short sales. Now is the time to purchase don’t let this opportunity pass you by.

What is a Short Sale?

A short sale is a sale of real estate in which the sale profits fall short of the balance owed on the property's loan. This occurs when a home owner cannot pay the mortgage loan on their property, but the bank decides that selling the property at a moderate loss is better than pressing the borrower for the full home value. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poor credit report outcomes for the borrowers. This agreement does not necessarily release the borrower from the obligation to pay the remaining balance of the loan.

Purchasing a foreclosure or a short sale home can mean that you get a deal under market value.  This does not mean that the home will be in tip top shape and can result in homes that need work.  Distressed homeowners typically do not have extra money to maintain the home that they have lived in for years which can lead to costly repairs for the buyer.  Make sure to always have the home professionally inspected before purchasing a home of this nature to ensure that all disclosures for repairs are made.

With the economy constantly changing foreclosures and short sales are becoming more available to home buyers.  It is always within the interest of the buyer to have a Realtor working on their behalf.  The Schaumburg, Illinois housing market is a buyers market and sellers are willing to make deals to get property sold.   

Whether you are looking to purchase a home or sell a home work with a top Realtor in Schaumburg to get the job done.

Tips to Make Your Home Sell Faster

Need your home sold faster?  Follow these steps:

1. Put the clutter away -  If you have a built up of clutter or a room that you just throw everything into it is wise to rent a storage unit to make your home look more spacious.  It may cost $100 per month but that is nothing compared to how much more open your home will feel to potential buyers.  Since you have to pack it away anyways you might as well do it now so that it will benefit the sale of your home.

2. Neutralize and Depersonalize - If you have a bright red bathroom you may want to consider painting it a neutral color.  Potential buyers may frown upon rooms that are loud because they will know that they have to put more work into the home once they purchase it.  Assume people are lazy and do this yourself.  It will make your home sell faster.  Depersonalize your home by putting away family pictures and awards etc.  This will also help declutter your home.  Put up neutral paintings in their place.

3. Get Your Home Inspected - This will help ease the mind of potential buyers if this report is on the kitchen table as they look through your home.  It shows that you have done your homework and there are no hidden surprised with them making you an offer.  They will know the home condition upfront. Buyers like honest sellers.

4. Stage Each Room - Dont "repurpose" any room.  Arrange your furniture so that each room shines to its best potential.  Make sure that the sofa does not block the fireplace etc. 

5. Clean Your Floors - Get your carpets steamed cleaned and buff the hardwood floors if they are in bad condition.  This makes the house look kept and clean.  It will give the home a better look overall and appear cared for.  If you have dirty floors buyers are going to nit pick at everything else because they will think you have not taken care of the place.

Another thing you want to make sure that you do is price your home right.  Consult your realtor to help understand market trends and listen to their recommendation.  Using a real estate agent that can sell sell sell will give you the best advice.  If you are in the Schaumburg, Illinois area we recommend using www.AaronWittenstein.com. He has a proved track record and can market your home using the most advanced technology available.

Tips on Selling Your Home in Schaumburg

Do you have a house in Schaumburg that you would like to sell? Selling a home in a market that fluctuates the way it does today is not always easy. Schaumburg is a town that has more people moving into it than leaving which is always a good thing.

Here are a few tips when going to sell your home in Schaumburg:

1. Price your home correctly - Consult a Realtor in Schaumburg to get the best market value for your home. Someone who knows the Schaumburg market well would be a Realtor located in the town that has the experience and knowledge it takes to get your home sold quickly and at maximum value. It is a known fact that your home will be sold faster if you list it with a Schaumburg Realtor rather than try to sell the home independently. We all know that time is money and when a property sits on the market for a long period of time the owner tends to lose money and ends up reducing the price to attract more buyers. This isn't always an efficient way to get maximum value for your home.

2. Get your finances in order - Start by getting your home appraised. Finding out the value of your home along with any problems that may come up during an inspection will give you an advantage. You will know where your Schaumburg home stands when buyers start coming to look at it and negotiate prices. The second part that is important to get approved for a mortgage. You can go through many companies to to get a mortgage but not all mortgages are good. Know the terms and conditions that you are getting yourself into before you commit to a mortgage company or bank. Consulting a Realtor can help give you an advantage because they work with mortgage companies all of the time and know who is honest and easy to work with.

3. Be a smart marketer - EVen if you do not have experience in marketing, it is not hard to know that when you are selling your Schaumburg home you want to have your home listed in as many places as possible. Your schaumburg realtor knows where people locally look for houses and will advertise on your behalf. If you get a good realtor they may even help pay for some advertisements in local magazines, papers and the internet.

Marketing for real estate keeps changing at a fast pace. Dont assume that you know how to market the listing of your home if you have never done it before or had success with it 15 years ago. Realtors in Schaumburg are up to date on the latest trends and usually have a monthly budget to work with already in place. Just because you think that taking out an expensive advertisement in the paper for the sale of your home is going to work because it once did years ago does not mean that it will work again today. Put your pride aside when it comes to marketing because the average person is not an expert. Some things should be left to a professional Realtor.

Additionally, giving buyers the signs they need to locate your home is increasingly important. Potential buyers may have a hard time finding your house no matter where it’s located, and using directional signs to ensure that your home will be seen is imperative. Count how many turns it takes to find a main street. The number of turns you make is the number of signs you’ll need.

4. Find a fixer-upper to increase value in short time - If you are looking for a place to live for a few years and want to make a quick dollar by fixing it up and selling it you can do it. This is a strategy that many people in progressive neighborhoods and towns take on and make thousands of dollars while doing it. Why not make real estate bring you riches while putting a roof over your head?

Small changes you make now – such as replacing outdated appliances, applying a fresh coat of paint inside and out, and replacing hardwood floors or carpeting – can help raise the asking price when it’s time to relocate at the end of your assignment. Upgrading too much or too little will be something that you want to avoid. Consult a real estate agent in Schaumburg for some upgrading advice and they will be able to tell you what is good to change and what should stay the same.

5. Do your research before relocating - Moving to a new part of the country can be overwhelming, especially if you have children in school. Check the details on school districts, neighborhoods and even find contractors online such as plumbers and electricians before you arrive. You can find most of this information online so it is accessible to you. Generally towns with larger populations have good and bad areas.

6. From Curb Appeal to Your First Open House - Curb appeal is the impression buyers get when they first pull up to a home. This can be something that makes a long standing impression on buyers. Make sure hedges, bushes and the lawn are trimmed, flowers are abundant and fences look brand new. A fresh coat of paint makes a home look cared for.

All in all there are many things that you can do to make your home sell faster and at a higher price. Contact a Schaumburg Realtor for help when purchasing a home in the Schaumburg area.