Joanne Metz

471.006018


(708) 502-2127

My Blog

Selling Your Home in Low Inventory Market

Posted On: May 21st, 2018 1:42AM

 

 The housing market has proven its resilience over the years. A decade ago it had hit rock bottom with prices falling to historical lows. This housing crash is now a distant memory as prices have steadily increased over the last five years. 

With a strengthening economy, rising employment figures and low interest rates buyers are flooding the market that has too few homes to sell. This low inventory has many causes and includes: homeowners who prefer to renovate rather than move, baby boomers who have decided not to downgrade, decreased development of new homes, distressed properties converted by investors into rentals and millennial buyers purchasing their first homes. 

There are sellers who are driven to sell by the tax changes which will be implemented in the 2018 tax year. They are trying to stay within the deductible tax limit on their mortgage interest and in areas with lower property taxes. 

If you are looking for a quick sale in this seller’s market, then keep the following in mind: 

• Spring and early summer is an optimal time to sell 

• Consult with your agent to ensure that you price your home correctly; an overpriced home can stagnate on the market 

• A CMA (Comparative Market Analysis) is the best way to find the true worth of your home and how to best market it 

• Even though there is a demand for homes remain practical about what your home will sell for, according to your area 

• Tackle any touch ups and make sure that your home is tidy 

• Stage your home to make it appealing to prospective buyers 

 

I offer thorough valuation estimates, strong marketing strategies, and a keen eye for the local home-selling climate. Think of me as your trusted REALTOR® for your next home sale. 

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How I Price Your Home for Sale

Posted On: April 18th, 2018 1:37AM

 

Pricing your home correctly is the key to a timely home sale. Price too high, you get no offers. Price too low, and you leave money on the table.

I use the following criteria to arrive at a viable target selling price for your home.

  1. Sales in your area: One of the biggest factors in pricing is recent sales. My REALTOR® status allows me access to real-time home sales data via the Multiple Listing Service. I see what similar homes have sold for in the last 0 – 12 months in your neighborhood. Similar homes have about the same square footage, were built around the same time, and have comparable features.
  2. Features: Does your home have a unique feature, like additional living quarters or a swimming pool? If it’s a feature that is in demand, I recommend a higher price.
  3. Condition: Can people move right into your house or will some work have to be done? Deferred maintenance, like roof leaks and running toilets, don’t necessarily have to be fixed, but they may hinder getting top dollar.
  4. Other factors: If a new large, company headquarters is being built nearby, I might recommend a higher price since there will be people moving into the area. A dilapidated house on your street might effect your home’s value negatively.

If you are thinking about selling, please call me and I will do a thorough home valuation, complete with a visit to your home and diligence when researching comparable sales in your area. I always discuss the reasoning behind my comparative market analysis.

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Buying a Home, Your Finances

Posted On: March 17th, 2018 6:23PM

 

As exciting as it to buy a home, it’s important to think about your finances early, before you sign on the dotted line. I have a discussion with my clients so they are well-informed and well-equipped when it comes to their financial investment as homeowners.

Take time to contemplate these important areas.

Keep equity growth top of mind: From start to finish, don’t lose sight of the benefits that equity growth in your home provides. With every decision you face throughout your home buying journey, ask yourself “Will this contribute or take away from the equity I plan on building in my home?”

Be realistic when you plan: Make a list of the things you desire (vs need) in your next home. You may be able to have both, and that’s great. Most important is to address your primary needs. Take an honest look at your current income and expenses; keep in mind the big costs you expect to come up in the future (college, family vacations, cars, etc.). Try to learn a bit about mortgages on your own and avoid the temptation to max yourself out once you do sit down with your mortgage lender. Having a frank conversation with everyone in your family will go a long way in making the best decisions long-term.

Find a mortgage lender you trust: A great mortgage lender will be aware of all your loan options, be willing to educate you on the loan process, and make proactive suggestions based on your particular situation. It’s OK that you don’t know all the ins-and-outs of mortgage lending. Once you find the perfect fit in a loan officer you’ll feel supported and confident in your decisions.

Lean on me for advice: As your REALTOR®, I do not have a mortgage lenders license, but I do know a lot about mortgages. I have a relationships with several reputable lendeSavers. Reach out early and allow me to be there for you when you first start contemplating your home purchase.

Reach out anytime if you are thinking of buying and have questions. Text, call or email! As your Chicagoland northwest suburbs REALTOR®, I am here to listen, help you make a plan, and work for your best interests.

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Expectations for Housing in 2018

Posted On: February 20th, 2018 8:56PM

It’s been an interesting 2018 already when it comes to housing and homeownership. Here’s a list of the expected changes in the housing market for 2018.

As your trusted REALTOR® serving Chicago’s Northwest Suburbs, I would be happy to speak with you about your specific needs.

  • There is a low inventory of homes for sale and more than 50% of these are not affordable to first time buyers.
  • This will lead to new construction but due to ever rising prices of land and building costs most expansion will be in the suburbs and outlying areas of cities.
  • There are many people who are about to become first time homebuyers, including millennials, immigrants and foreign investors.
  • Many previous homeowners had declared bankruptcies in the previous crisis and are now eligible to buy after seven years.
  • Homeowners looking to downgrade or upgrade as family needs change push up demand on some properties.
  • As the cost of living rises in the bigger cities many look for job opportunities and homes in cheaper cities.
  • The rising cost of building pushes up the price of existing homes and most homeowners will prefer to stay put and to remodel existing homes.
  • Developers will concentrate their efforts on building homes for lower to middle income buyers and will have to provide to their future needs such as wider passages.
  • Most millennials prefer to live in urban areas but will most likely buy in the suburbs where homes are more affordable.
  • The new tax bill might discourage some buyers. Some homeowners might look to sell and buy in states with lower taxes.

 

If any of these expectations look like they may affect your housing situation, and you would like to have a meaningful conversation about your options… let’s talk.

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The Difference Quality Photos Make to a Home Sale

Posted On: January 17th, 2018 6:45PM

 

Most homebuyers start their home search online. The photographs of your home could be the deciding factor on whether they request more info, or schedule a showing appointment.

For my seller clients, I have professional quality photos taken of the exterior and interior of their home.

Here are a few of the benefits of using a pro photographer :

  • Your home is likely to sell faster!
  • They specialize in housing shoots.
  • Their turn-time is fast; your photos are ready promptly.
  • You can review their portfolio and confirm their abilities.
  • They own the right equipment.
  • The provide the right size photos, for print or web use.
  • You’ll have photos that appeal to the buyer’s emotions.
  • They use software to enhance the photos.
  • You’ll get advice on how to stage your home.
  • The photos will to appeal to future buyers.
  • Multiple Listing Services requirements for pics will be met.
  • Your main exterior photo will showcase your home in its best light.
  • The unique areas of your home are included.
  • Small areas are not neglected, like laundry rooms or half baths

As I mentioned, included in my marketing strategy is professional quality photos for your home. You deserve this valuable home-selling effort that entices buyers to visit your home.

Let’s talk if you are considering a move soon!

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