Open Houses THIS SUNDAY!

1740 N. 79th Court, Elmwood Park – Open from 12-2pm

1812 N. 77th Ave, Elmwood Park – Open from 1-3pm

555 Clinton Place, River Forest – Open from 1-3pm

417 Lathrop Ave, #3E, River Forest – Open from 1-3pm

747 William Street, River Forest – Open from 1:30-3pm

815 N. Lombard Ave, Oak Park – Open from 11:30-1pm

924 Ashland Ave, River Forest – Open from 1-3pm

825 Clarence Ave, Oak Park – Open from 1-3pm

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Open Houses THIS SUNDAY!

638 N. Kenilworth Ave, Oak Park – Open from 1-3pm

174 N. Ridgeland Ave, Oak Park – Open from 12-2pm

1423 Lathrop Ave, River Forest – Open from 1-3pm

512 Thatcher Ave, River Forest – Open from 1-3pm

142 S. Scoville Ave, Oak Park – Open from 11-12:30pm

728 S. Euclid Ave, Oak Park – Open from 1-3pm

1213 Edmer Ave, Oak Park – Open from 1-3pm

944 N. Humphrey Ave. Oak Park – Open from 1-3pm

1740 N. 79th Court, Elmwood Park – Open from 12-2pm

232 N. Scoville Ave, Oak Park – Open from 1-3pm

1115 N. Oak Park Ave, Oak Park – Open from 11-12:30pm

815 N. Lombard Ave, Oak Park – Open from 1:30-3pm

1132 Fair Oaks Ave, Oak Park – Open from 12-2pm

1619 N. 77th Court, Elmwood Park – Open from 1-3pm

747 William Street, River Forest – Open from 1-3pm

825 Clarence Ave, Oak Park – Open from 1-3pm

735 S. Kenilworth Ave, Oak Park – Open from 1-3pm

 

 

Tips for Negotiating In A Seller’s Market

Get Pre-Approved:

When it comes to buying a property, getting pre-approval for a mortgage is a must, and it’s an absolute must in a seller’s market. You want to be able to negotiate and close quickly. Having a custom pre-approval letter from the mortgage lender when making the offer shows you’re serious and ready to make a deal. The letter should indicate the lender has already received and approved your credit history and verification of income. It should have only limited conditions, such as ‘continued level of income of buyer’ and ‘satisfactory appraisal of property.

Understand the Market Value Range:

Prices can get crazy in a seller’s market, but do not get drawn into an unrealistic price. Remember, even when home inventory is limited, other homes are or will become available. While there are several online programs to instantly provide a ‘Market Price,’ these by nature draw from general information and can be wildly inaccurate. Make sure your real estate agent does a market analysis for each home prior to submitting an offer, and if you receive a counteroffer, it is a good idea to have your agent do it again. There may be a sensible reason to raise your offering price, as well as a good reason to back off. Your agent can factor in expected changes to the area as well as which homes in the area are comparable and which are not.

Avoid Low Ball Offers:

A seller’s market is not the time to make a low-ball offer. When there are fewer homes for sale, buyers tend to submit higher and full-price offers. Your real estate agent will be able to guide you on an offer that will not only entice the owner but also compete with other potential offers.

Show You’re Serious:

Money talks when it comes to real estate. If you’re serious about a property, larger earnest money shows the seller you’re serious and already have money on hand. It makes your offer more appealing!

Don’t Expect Everything:

Sellers have the upper hand when it comes to selling in a seller’s market. Buyers can’t be too choosy, especially when the competition is high. If you’ve found a house and there are multiple offers, don’t make demands that will make a seller turn down your offer. If a seller has made it clear that the appliances are not staying, don’t demand them. If there are cosmetic things you don’t like, don’t make the sale contingent upon those items being fixed. Your real estate agent will be able to offer advice on ways to make your offer more attractive to a seller.

Use Knowledge To Your Advantage:

One way to negotiate with an offer is to learn more about the seller. Does the seller need extra time to vacate the property because s/he is waiting on another property? Use that to your advantage and allow that time in your offer. Is the property on the market because the owner must take a job in another city or state? You can make the closing quick to help accommodate his/her needs.

Finding a home when inventory is low can be a difficult task. If you’re on the hunt for a home and live in a city with a competitive real estate market, make the challenge a little less difficult by being prepared. When you finally find that perfect property, do not forget the asset you have in your real estate agent. Together you’ll be able to make a deal that gets you your dream home.

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Open Houses THIS SUNDAY!

704 Monroe Ave, River Forest – Open from 1:30-3:30PM

438 Lenox Street, Oak Park – Open from 12-2PM

417 Lathrop Ave, #3E, River Forest – Open from 12-2PM

747 William Street, River Forest – Open from 1-3PM

1740 N. 79th Court, Elmwood Park – Open from 11-1PM

1115 N. Oak Park Ave, Oak Park – Open from 1-3PM

305 N. Lombard Ave, Oak Park – Open from 1-3PM

1213 Edmer Ave, Oak Park – Open from 2-4PM

232 N. Scoville Ave, Oak Park – Open from 12-2PM

4741 N. Maplewood Ave, Chicago – Open from 1-3PM

735 S. Kenilworth Ave, Oak Park – Open from 1-3pm

1619 N. 77th Court, Elmwood Park – Open from 1-3pm

 

 

Open Houses THIS SUNDAY!

747 William Street, River Forest – Open from 1-3pm

1422 William Street, River Forest – Open from 1-3pm

1140 Jackson Ave, River Forest – Open from 1-3pm

949 Fair Oaks Ave, Oak Park – Open from 12-2pm

1423 Lathrop Ave, River Forest – Open from 11-1pm

142 S. Scoville Ave, Oak Park – Open from 11-1pm

1213 Edmer Ave, Oak Park – Open from 2-4pm

1131 N. Oak Park Ave, Oak Park – Open from 1-3pm

911 Thomas Ave, Forest Park – Open from 1-3pm

944 N. Humphrey Ave, Oak Park – Open from 12-2pm

924 Ashland Ave, River Forest – Open from 1-3pm

634 S. Elmwood Ave, Oak Park – Open from 1-3pm

1740 79th Court, Elmwood Park – Open from 12-2pm

320 Wesley Ave, Oak Park – Open from 1-3pm

 

Open Houses THIS SUNDAY!!!

924 Ahsland Ave, River Forest – Open from 1-3pm

221 Keystone Ave, River Forest – Open from 1-3pm

1422 William Street, River Forest – Open from 12-2pm

554 Thatcher Ave, River Forest – Open from 2-4pm

1140 Jackson Ave, River Forest – Open from 1-3pm

949 Fair Oaks Ave, Oak Park – Open from 1-3pm

1423 Lathrop Ave, River Forest – Open from 1:30-3:30pm

506 Uvedale Road, Riverside – Open from 1-3pm

1132 Fair Oaks Ave, Oak Park – Open from 1-3pm

142 S. Scoville Ave, Oak Park – Open from 1-3:30pm

728 S. Euclid Ave, Oak Park – Open from 1-3pm

1213 Edmer Ave, Oak Park – Open from 12-2pm

438 Lenox Street, Oak Park – Open from 1-3pm

707 N. Marion Street, Oak Park – Open from 1-3pm

944 N. Humphrey Ave, Oak Park – Open from 1-3pm

1136 Ontario Street, #3B, Oak Park – Open from 11-12:30pm

945 Keystone Ave, River Forest – Open from 10:30-12pm

635 Hinman Ave, Unit 1B, Evanston – Open from 1-3pm

6966 N. Wolcott Ave, Unit 3, Chicago – Open from 1-3pm

1619 N. 77th Court, Elmwood Park – Open from 1-3pm

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Prepping For A Home Inspection

Home inspections have a very important part in the home buying process. For buyers, the home inspection provides an assessment of the home conducted by a trained inspector. While not required for every home sale, most lenders and cash buyers will ask for a home inspection as a contingency in the sale contract.

For sellers, a ‘pre-inspection’ can reveal important details about a home’s systems and structure, allowing the seller to fix critical items ahead of time which might cause a buyer to walk away. If you’re a seller, here are the ways you can prepare your home for an inspection.

Clean and Make Room

When it comes time for the inspection, one of the first things you should do is clean the house. A clean home makes a good first impression, and it makes it easier for the inspector to do his/her job. If there are toys everywhere, or trip hazards, your home could potentially be an unsafe place to work. Make it hospitable.

Prepare to Be Gone

A home inspection is not quick. An inspector will look at the major systems in your home, such as electrical, HVAC, plumbing, roof, floors, attic or crawlspace, and the foundation and structural components. Be prepared for you and your family (and any non-contained pets) to be away from your home for two to four hours for thorough inspection. Note: If the seller ordered a ‘pre-inspection’, that seller will want to be present, so the inspector can debrief him/her.

Have the Utilities Connected

During an inspection a home’s systems are tested, including those that require electricity and water. If the property is vacant, you’ll need to make sure you get the utilities connected so the inspector can be thorough and not require a return trip. Also remember to light the pilot lights for any appliances within the home. Many inspectors won’t do this because of liability and insurance, so ensure these are lit so the inspector can do their job the first time.

Leave Keys and Documents

It’s easily forgotten, but an inspector will likely need access to any outside systems, buildings or garages for the property, so leave any keys, openers, or other tools easily accessible to the inspector. This also includes access to a sprinkler system or electrical box. You will also want to make sure you provide all invoices and documents for any remodeling or projects that have occurred. If you’ve put in a new water heater, new HVAC, or had some electrical work done, provide the documentation for the inspector to ensure that those items are inspected as well.

Provide Access

Since an inspector is going to look at all the major systems of your home, make sure there is easy access throughout the house, especially to a furnace, water heater, or any other appliance that the inspector will look at. Before the inspector arrives, make sure access is not hidden or thwarted by large items – for example, if your crawlspace is accessible through the closet of a bedroom, make sure there is nothing in the room or the closet that will prevent the inspector from getting to it. Also, provide details on where the inspector can find attic and crawlspace access, and ensure those access points are ready for the inspector. Sometimes if an inspector cannot get access to something, s/he will need to reschedule and there can be additional charges for having to return.

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Open Houses THIS SUNDAY!

1422 William Street, River Forest – Open from 1-3pm

1132 Fair Oaks Ave, Oak Park – Open from 1-3pm

1423 Lathrop Ave, River Forest – Open from 1-3pm

1207 Jackson Ave, River Forest – Open from 2-4pm

330 Forest Ave, River Forest – Open from 1-3pm

106 Rockford Ave, Forest Park – Open from 1-3pm

417 Lathrop Ave, Unit 3E, River Forest – Open from 1-3pm

728 S. Euclid Ave, Oak Park – Open from 1-3pm

1136 Ontario Ave, Unit 3B, Oak Park – Open from 1-3pm

634 S. Elmwood Ave, Oak Park – Open from 1-3pm

638 Kenilworth Ave, Oak Park – Open from 1-3pm

1435 William Street, River Forest – Open from 1-3pm

1619 77th Court, Elmwood Park – Open from 11-1pm

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