When it comes to selling homes, the price is very often the “hot topic” whether you are the seller or buyer. The process involved in determining the appropriate listing price isn’t always what one might think, though.
In fact, it ultimately comes down to a position within the existing competition. Let’s take a moment to delve into some common misconceptions about pricing…
A house is often an individual’s single most expensive purchase, and therefore, most valuable asset. But the costs of ownership, including ongoing maintenance and taxes, can be a considerable undertaking. The good news is that there are many ways that owners can cut costs.
Following are a few recommendations, and don’t hesitate to connect with an agent who can provide invaluable advice on cost-saving ideas.
@properties recently formed two new partnerships to address one of the biggest challenges for home sellers in today’s real estate market: more and more buyers expect “Pinterest-perfect,” move-in ready homes, but a lot of properties – even those that are just 8 or 10 years old – need updating to bring them up to today’s standards.
Whether you have a significant home project planned for the coming year, you’re looking to refresh your home with some design tweaks, or you’re updating your house to sell, selecting paint colors, decor styles, and new pieces can be overwhelming. Updating your home is important aesthetically, and also impacts the overall feel and function of the atmosphere. Get inspired to refresh your home for a new decade by incorporating 2020 design trends throughout the space.
Legendary American author Mark Twain once famously quipped to a reporter that news of his death had been greatly exaggerated. Similarly, we Chicagoans frequently find ourselves in the position, these days, of having to remind others that our city is not only still alive, but is thriving in many ways.
While major cities throughout the greater Midwest struggle to reinvent themselves, Chicago has remained economically viable and vibrant despite a flurry of negative headlines. Tourism figures continue to break records, a revitalized downtown has drawn numerous new corporate headquarters and expansions, and the city’s vast housing stock remains quite affordable relative to other major metros – both nationally and internationally.
Perhaps no other Chicago neighborhood has seen such an explosion in new development in the last decade as the West Loop. The neighborhood’s transition from a warehousing and meat packing district to a luxury live-work-play destination has produced Michelin-starred restaurants, multi-million-dollar home sales, and the arrival of Fortune 500 companies, including Google, McDonald’s, and many others.
Sales numbers from the last few years paint the picture of a down market in the Gold Coast – the upscale lakefront pocket that has long been known for ultra high-end condos and co-ops. But another evident trend that sales reveal is a wide gap between new construction and existing housing stock, particularly in dated inventory.
@properties co-founders Thad Wong and Mike Golden face scary headlines about the Chicago area luxury real estate market head-on in the final @/The Market installment of 2019. But how do the foreboding stories hold up to actual sales numbers and buyer preferences? @properties managing broker Amy Corr provides some boots-on-the-ground insight into the Winnetka housing market, one of the priciest in the metro area.