When it comes to real estate, 2016 New Year’s resolutions may not immediately come to mind. But for prospective Chicago North Shore real estate sellers and/or buyers, this is the time as well as the year to generate ideas to put them on track for a change. Many times these ideas surface as a result of an oversight or misjudgment about the real estate market over the past 12 months. The time to act is certainly NOW! Below are the top 4, 2016 resolutions to get you North Shore real estate market ready and prepared:
New Year’s Resolutions
Sellers: Resolve to Think of Your Home as a Commodity
Start clearing out old stuff now. If there are things deep in your closets that you don’t think you’ll use between January and the time you move, consider a storage locker or making space in the garage. Does your real estate agent suggest that the basement needs a paint job? Get some painting bids now. Have you always hated how the bathroom vanity takes up so much space? Consider changing it now so buyers will perceive your bathroom as bigger. This will also help you spread out the costs of home repairs and changes over several months.
Buyers: Resolve to Get Your Financial House in Order
Planning a home purchase takes time and effort, so you should consider meeting with a mortgage professional early in the year. Know your credit score and understand what your financial situation looks like from a lender’s perspective. If you have credit issues, identify what they are and the necessary steps to correct them. An experienced North Shore real estate agent can recommend local mortgage professional. Local is always important, because many real estate deals are made on relationships, and being able to meet face-to-face with your mortgage professional can be a big plus.
Sellers: Resolve to Understand Your Timing and Exit Strategy
One of the biggest stresses on a seller is trying to plan a purchase and a sale at the same time. Can you afford to close on the new home before selling? If so, for how long? Do you need to sell the property first? If so, will the potential sale price support a home purchase in the neighborhood you want to be in? If not, what other areas should you be looking in? Selling and buying at the same time brings up all kinds of questions. A seasoned North Shore Realtor should be able to guide you through these and other related matters with ease.
Are you relocating to the North Shore Area of Chicago? Uprooting yourself from your home is not easy. What if you have to go into short-term housing? How will you get that set up and how long would you need to commit for? If you can afford to purchase and then sell, do they need to happen quickly? Are there things you can be doing in your current home so that once your new home closes, you’ll be ready to list? It’s a lot to think about and plan for, and it helps to have a strategy in place well before you have to take action and use your North Shore real estate professional as a guide.
Buyers: Resolve to Start Feeling Out the North Shore Market Early
You may think you only need to go to open houses once you’re ready to buy. But in reality, a buyer needs a couple of months learning the market, understanding home values, the prices per neighborhood and the areas in general. Going to open houses in the neighborhoods where you want to buy will allow you to start feeling out the market.
Once you engage a North Shore agent, you may make several offers before you get into your dream home. Having your North Shore agent along for the ride will allow you to compare and contrast homes you’ve visited to the home you eventually buy. The homes you see and your experience feeling out the market will serve as the building blocks toward becoming an informed buyer and making your best offer.
Gloria Matlin….Committed to optimal, top performing, client focused real estate service, Gloria Matlin will strive to maintain her consummate dedication to North Shore real estate in 2016. Nationally and locally recognized as a high ranking, top performing luxury real estate resource, she is a trusted professional with over 30+ years of North Shore Realtor insight and experience. Look to her for help with relocation, downsizing, upsizing, buying, selling, investing, renting or to obtain additional detail on real estate data, reports, outcomes and/or history within the Chicago North Shore areas of Glencoe, Winnetka, Wilmette, Glenview, Deerfield, Northbrook, Lincolnshire, Lake Forest, and Highland Park. More information HERE and HERE on this dynamic real estate professional.