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| Real Estate Marketing 101 |
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| JUNE 29, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
There are a number of questions and fears that can be associated with selling your home. How much should I sell it for? Does my house look right? Is my home in good condition? Have I staged it properly? Am I in a tougher housing market? Is the neighborhood an issue? Location, location, location? Is the timing right? Will I be able to find a good realtor to market my home and do what’s right to get it sold? WILL MY HOME SELL?
Go from FOR SALE to SOLD, lightning fast.
Then, you make the decision to sell your home… on your own. Multiply those questions and concerns by 100 and you begin to feel wary and may decide to go a different route.
We are the experts on selling your home on your own. Through this next series of blog posts, we are going to go through some basic information that may address your concerns and help to ease your worries and fears when it comes to taking that big step and choosing to sell your home on your own.
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MARKETING 101. Did you ever take a marketing class in high school or college? If so, you know that the first rule of marketing is TAKE CHARGE of your marketing. Meaning, more specifically, have a plan. No one cares more about your marketing than you do. So, devise a plan and execute the plan. Now, here’s some great and helpful information to help you in your planning process:
The MLS (Multiple Listing Service), a proprietary service that allows members to list properties. We have thrown this term around a lot on this blog, but I can’t stress enough how important and KEY it is in selling your home. Over 90%, yes 90%, of homes sold in America have been sold using the MLS. To be a member of the MLS, you have to be a realtor. How are you going to list your home on the MLS if you, yourself, are not a realtor? That’s where WE come in. (BTW: the going rate to hire a realtor to list your home and/or sell your home is at least 3-6% commission on the selling price of your home). At Justlistem, we serve as a limited agent/realtor, where you simply pay a flat fee and we list your home for you. No middle man, no stuffy realtors, no expensive commission prices, just a helpful service. By listing your home on the MLS, you are giving your home a GREAT amount of exposure to all who are members of your local, regional, or national MLS. By making this first step, your property has been efficiently marketed, but you retain the right to sell it to ANY individual not buying through a Realtor as well. This gives you the best of both worlds.
INTERNET MARKETING. Yes, we are in a digital age, and the internet is one of the most highly sought after markets for, well, marketing. Craigslist, Real Estate Forums, Facebook, and Twitter are just some of the ways many homeowners (and realtor’s alike!) are using the internet to market their homes. Futhermore, if you decide to use Justlistem, your home will also be posted on Cheaprichmondhomes.com which is a very prominent real estate website in the state of Virginia.
Kick it old school, style. Nothing can beat old school marketing techniques. They worked for years, why wouldn’t they work now? Create a flyer for your home (which can be provided by Justlistem), post it in the yard, place a lock box onto house for easy showings (you can get one right at Home Depot or Lowe’s), and of course, placing a FOR SALE sign in the yard (which is also provided by Justlistem).
Staging. Don’t forget to stage your home. You’re going to need to make sure your home is ready to sell. Check out this GREAT blog post on staging your home on the inside AND the outside.
At the end of the day, it’s about making a decision that is right for YOU. You’re the owner of your home and only you know what’s best. But, it is my hope that these basic marketing techniques will at least jump start you in the right direction and help you sell your home LIGHTNING fast and save you lots of money. |
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| Annapolis: Not JUST a movie starring James Franco |
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| JUNE 27, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
Breaking news: Justlistem just signed on with the state of Maryland. How awesome is that? We are so excited to be working with brokers around the nation helping people like you sell their home and save A LOT of money.
To kick off our new partnership with the “Free State” of Maryland, we’ve decided to highlight one of Maryland’s largest cities: BALTIMORE.
Baltimore's Inner Harbor
Home to two great professional sports teams: the Baltimore Orioles MLB team and the Baltimore Ravens NFL team, home to an incredible aquarium, and incredible industry, Baltimore is a city that is rich with history and thriving with culture. It is also booming with diverse real estate.
Here are this week’s stats for BALTIMORE:
Average mortgage rates at of June 14, 2009 in the state of Maryland and City of Baltimore are:
30-year fixed mortgage is 5.63%
15-year fixed mortgage is 5.21%
30-year fixed JUMBO mortgage is 6.59%
15-year fixed JUMBO mortgage is 6.21%
Homes for SALE [as of June 14, 2009]:
There are currently 3,830 homes for sale in all of Baltimore
There are currently 3,269 existing homes for sale
There are currently 0 NEW homes for sale
There are currently 561 foreclosures
House appreciation:
Housing median value: $221,643
Appreciation is down 4.8%
Sales prices:
Average sales price for a home in BALTIMORE as of April 2009: $129,611
Average sales price for a home in the STATE OF MARYLAND as of April 2009: $273,945
This is a difference of $144,334
Average days on the market:
The average for the STATE OF MARYLAND, 83 days
The average for BALTIMORE, 78 days
Okay, so what do these numbers mean? Baltimore is incredibly hot right now and perfect for a first time home-buyer! With a lower number of average days on the market than the overall State of Maryland and and lower average selling price, Baltimore makes for a great deal.
For sellers, having a lower number of days on the market means money in your pocket faster.
Now is truly the time to buy, sell, and invest in real estate. And when considering selling your home, always trust Justlistem. You will be guaranteed to save THOUSANDS of dollars by paying a simple flat fee and not worrying about commission for the middle man. |
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| Welcome to Miami, Bienvenido a Miami! |
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| JUNE 8, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
MIAMI: The sun, the sand, beautiful people, natural scenery, and of course, beautiful homes. When one thinks of Miami, Florida, real estate usually isn’t the first thing that comes to mind, unless you’re talking about multi-million dollar homes owned by celebrities. Little does everyone know, Miami is actually a great place for real estate… especially homes that DON’T involve spending millions of dollars.
We decided to feature Miami this week because of it’s rapidly changing real estate market.
Real estate in Miami doesn't HAVE to cost you an arm and a leg.
Here are the facts and figures for ALL properties in and around the Miami area:
The average listing price of ALL properties as of June 6th, 2009 is $404, 661 (down 0.2% from 2008)
The MEDIAN sales price of ALL properties as of June 6th, 2009 is $180,000 (down 35.7% from 2008)
The number of SALES of ALL properties from January 1st, 2009-June 6th, 2009 is 3,236 (this is actually UP 73% from 2008)
There are 15,166 homes listed for sale
There have been 6,868 recently sold (within the last 9 months)
There are 10,074 foreclosures
Here are the stats for SINGLE-FAMILY homes as of April 31st, 2009:
555 single-family homes listed for sale in April 2009, as opposed to 281 in April 2008
Median sales price is $177,000 in April 2009, as opposed to $291,900 in April 2008
Here are the stats for CONDOMINIUMS as of April 31st, 2009:
542 condominiums listed for sale in April 2009, as opposed to 318 in April 2008
Median sales price is $133,500 in April 2009, as opposed to $275,000 in April 2008
These numbers tell us that it is truly a buyer’s market in Miami. The sales price of all properties is lower than usual and is beneficial to first time home buyers.
Now, this doesn’t mean that if you are thinking of selling your home that you shouldn’t. If you are in a low-range market, now is the time to sell. Homes listed for $200,000 and under are selling like hot cakes due to their appeal to first time home buyers.
With all the fun and natural beauty the Miami area has to offer, buying and selling real estate only makes it that much better |
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| The ORLANDO Factor. |
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| JUNE 8, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
Another featured city this week: ORLANDO, FLORIDA. That’s right. Home of Universal Studios and, of course, Disney World. However, not only is Orlando home to amazing tourist attractions, but also it is home to great…. well, HOMES!
The real estate market in Orlando is one of the fastest growing markets in the country. Being such a centralized location in Florida allows Orlando to draw in all sorts of business, commerce, and new people. Orlando is located about an hour from Daytona Beach and an hour from Tampa Bay on the east and west coast’s of Florida, respectively. It is also extremely accessible, housing one of the largest international airports in the country!
Oh, yeah, and as I mentioned, home to Mickey & Minnie Mouse. Who wouldn’t love THAT?
So, what makes the Orlando real estate market so hot right now? Well, as we all know, the real estate markets around the country have seen a huge downturn over the last few years, but are beginning to rebound. Orlando is no different. Although sales are down from years past, the Orlando Regional Realtor’s Association (ORRA) reported this week that in April, members of the ORRA sold nearly SEVEN times more homes in the lower-range category than in the upper-range category — this is extremely indicative of a rebounding economy and housing market. Basically, this means that buyers and sellers are starting at the bottom, and working their way up. It’s a cycle. Sales in a lower category gradually stimulate sales in other categories: i.e. supply and demand.
Orlando is also home to incredible neighborhoods rich with community and culture. Springs Landing, Magnolia Plantation, and Sweetwater Oaks are just SOME of the neighborhoods in and around the Orlando area with beautiful homes, great schools, and fun activities.
Here is some raw data regarding the Orlando housing market:
There were 3,412 NEW contracts posted in the month of April 2009, nearly double what was filed in April of 2008 (2,012).
There were a reported 1,741 COMPLETED closings in April of 2009, a 42% INCREASE in closings from April 2008 (1,231).
The median price of ALL Orlando homes sold in April was $132,900. This is a decrease of 37% from April 2008.
The average interest rate increased to 4.86 percent in April, up from March’s record low of 4.67%.
Of the 1,741 sales in April, 49.68% of the homes were either bank-owned (733) or distressed (132).
The median price of the bank-owned homes sold in April was $89,900, while the median price of distressed homes was $146,000.
The median price for the “normal” homes (876) sold in April was $161,245.
What does this all mean? It means that the Orlando market is surging and on the rise. NOW is the time to buy while housing prices and interest rates are low.
Should you sell now? If you are looking to sell your home, now is a GREAT time. With the influx of traffic to the Orlando area housing sales are on the rise. The statistics above show that the market is improving and that sales in a low-price range are ultimately stimulating sales in the upper price ranges.
If you do choose to sell your home now, consider selling your home with us, Just List ‘Em. By selling your home on your own, you are guaranteed to save thousands of dollars on commission. Instead of losing 6% of the home’s selling price to a realtor, you get to keep that money and simply pay a flat fee of $299 to list your home on the MLS (multiple listing service).
So, for example. If your home sold at the MEDIAN price of $132,900, a realtor would charge you approximately 6% of the selling price, of the home, which equals out to around $7,974. If you were to sell your home with Just List ‘Em, you would pay the FLAT FEE of $299, and that’s it. You would save $7,675. That’s a lot of money if you ask me.
Just some of the MANY reasons why Orlando is THE place to buy and sell a home right now. |
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| A Niche for Just List ‘Em |
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| May 25, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
What an awesome week for Just List ‘Em. We have some very exciting news that we want to share. We spoke with and are now working along side a large bank in Florida who will begin listing all of their foreclosures with JustListEm.com. This is over 30 listings to start off with throughout ALL of Florida. This is the epitome of a win-win situation for both us and the bank. Why? Well, as referenced in earlier posts, by using the services of Just List ‘Em, you are able to take out the “middle man” (aka: the real estate broker) who charges AT LEAST 6% commission on the selling price of a house. All you have to do with Just List ‘Em is pay the flat fee of $299 to list your home on the MLS (Multiple Listing Service).
Breakdown of Florida regions
So, for the bank to strike a deal with us and list all of their foreclosures through our services, we are able to save the bank approximately $5,000 PER foreclosed home they sell. Multiply that number by 30 (the first set of listings they have) which means that equals out to over $150,000 in savings JUST to begin with. By collaborating with this large Florida bank, we have been able to quadruple our business and save the bank a lot of money. I would say that’s a pretty great deal.
And the bonus? We have already begun talking to a bank in Richmond, Virginia who is interested in fostering such a business partnership as well.
We didn’t expect to be getting large corporate business so soon, but we are welcoming every bit of it. When we first set out to create Just List ‘Em, our goal was the revolutionize the way real estate is sold in America. Thus, by creating these partnerships with banks and businesses, we are doing just that.
By charging a flat fee to list your home on the MLS, by allowing all transactions to be paperless, and by being able to accommodate any real estate need, we have truly been the catalyst in changing the status quo of the “For Sale by Owner” real estate market.
And we couldn’t be more excited.
If you or someone you know is interested in partnering with Just List ‘Em, please feel free to contact us! Also, please leave a comment in the comment section and let us know what you think or ask us any questions you might have! |
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| Why to BUY in Hampton Roads. |
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| May 18, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
Hampton Roads: an area rich with history, natural beauty, and a whole lot of fun! The entirety of Hampton Roads can include Virginia Beach, Norfolk, Suffolk, Hampton, Newport News, and Williamsburg (also known in Virginia as the Peninsula). This area is a booming place for real estate — especially for a potential buyer. Considering moving to Hampton Roads or the Peninsula? Here are some great things that it has to offer:
History: Colonial Williamsburg, Yorktown, and the Jamestown settlement are all located in Hampton Roads. Each provide excellent opportunities for families, couples, and singles alike to explore and learn more about Virginia AND what the United States was founded upon. The 400th Anniversary of the Jamestown settlement was celebrated in May of 2007 and features a lot of GREAT history about the first settlers in America. You can even see original foundations and artifacts left over from 1697.
Fun: The beach! Busch Gardens Williamsburg! The James River! Hampton Roads convention center! Virginia Beach Amphitheater! The Great Wolf Lodge (which houses a GIANT indoor waterpark)! All of these great places are located in Hampton Roads and are excellent for anyone looking to have a great time. What’s not to love about living 15 minutes away from FIVE exciting roller coasters or 30 minutes away from an incredible concert venue?
Education: The public & private school system in HR is one of the top in the country — but the area is also home to world class colleges and universities. The College of William & Mary, Christopher Newport University, Hampton University, Old Dominion University, and Regent University are all located within the peninsula and provide a top notch education.
Accessibility: Not only are there Amtrak stations located throughout Hampton Roads, there are TWO airports – Norfolk International Airportand Newport News international Airport — both of which provide great accessibility to other parts of the country and very reasonable rates. Also, most places in Hampton Roads are no more than an hour away from Richmond, VA (the state capital).
So, we know that HR is a great place to be — but what does its housing market REALLY look like? Here are some statistics for the area of SOUTH Hampton Roads for APRIL 2009:
Virginia Beach:
427 sold listings with an average of 86 days on the market.
Median sales price: $244,000
Down 2.36% from 2008
Norfolk:
150 sold listings with an average of 89 days on the market.
Median sales price: $180,000
Down 16% from 2008
Suffolk:
88 sold listings with an average of 110 days on the market.
Median sales price: $234,000
Down 9.75% from 2008
What do these numbers mean? First: Virginia Beach seems to be the city holding it’s own and keeping rather steady as far as supply and demand is concerned. But what these numbers also mean is that NOW is the time to buy and make that long-term investment. It’s vital to get in while the market is accessible and on the rise.
As I’ve mentioned in earlier posts, other incentives such as the $8,000 tax credit for first time homebuyers and dropping mortgage rates have really pushed those who were on the fence about buying over to the other side. In fact, I was shown a great article recently which states that ONE in FIVE Americans will actually plan to purchase a new home in the next year or two DESPITE the current economic conditions. This is due, in large part, to the fact that home prices are dropping, rates are low, and there are multiple tax incentives for buying now. American’s really are optimistic about the future and are taking all of these factors into consideration when making that big decision to buy a home.
What about selling? Should you sell your home now? The short answer is YES. If you want to sell now, now is the time to begin that process. Economists incessantly say, “It’s a buyer’s market! It’s a buyer’s market!” Well guess what? In order for it to be a buyer’s market, there need to be homes available for purchase. It all goes back to that age old philosophy of supply and demand. Where there is demand, there needs to be supply — and vice versa.
So, if you are considering selling your home, NOW is the time to sell it yourself. List your home with us, Just List ‘Em and save thousands of dollars on commission. NOW is the time to save money, not spend it. |
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| Tampa, Florida: A Hot City with HOT Real Estate |
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| May 11, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
This week’s featured Just List ‘Em affiliated city is sunny Tampa, Florida. Tampa’s real estate market has been on the rise recently and we wanted to highlight some of the great things about that city and why it’s THE place to buy and sell real estate right now.
Attractions: Tampa’s wide array of museums, theaters, and other attractions makes it THE city to live in. Tampa features Busch Gardens Tampa Bay AND Adventure Island, a water park located just down the road from Busch Gardens. Both parks are great places for families, couples, singles, or those of us who just want to relax for a day and have fun. Busch Gardens even offers discounted season passes for the price of ONE admission if you are a Florida resident. (How awesome is that?) Tampa is also home to the Museum of Science & Industry which houses Florida’s ONLY IMAX dome theatre and planetarium. In addition to these great places, Tampa has a large aquarium, art galleries, and great sports teams — making it an incredible city rich with entertainment, education, and culture.
Neighborhoods: Although it is a large city with a population of over 304,000 people, it’s neighborhoods and communities that lie within the city limits give Tampa a very small town feel. Some notable communities include: Downtown Tampa, Davis Islands, Ybor City, and Sulphur Springs.
Downtown Tampa: the central business district and chief financial district of the city. This area is home to the Tampa Bay Performing Arts Center and the University of Tampa.
Davis Islands: the Davis Islands district is made up of TWO islands in Hillsborough County, Florida which are in very close proximity to downtown Tampa making the islands a very popular place to live. The islands house NUMEROUS parks and fishing inlets making this a very popular place to reside for families and fishing enthusiasts. .
Ybor City: This historic neighborhood and district is home to numerous museums, festivals, and other outdoor activities. This neighborhood is actually famous for its cigar museum and cigar festival. Cigar enthusiasts from all over the world travel to this district every year for the Tampa Cigar Heritage Festival held in November.
Sulphur Springs: this small tight-knit community has a population of a little over 6,000 people and features many different community gatherings and parties. Sulphur Springs is actually famous for the Sulphur Springs water tower which was erected 1927.
The Real Estate Market: Okay, so now we know why Tampa is a great place to live, but what does it’s real estate market look like? Here are some recent statistics (SOURCE: Trulia.com):
The median sales price for homes in Tampa FL for Feb 09 to Apr 09 was $138,000. This represents a decline of 7.7%, or $11,500, compared to the prior quarter and a decrease of 28.2% compared to the prior year. Sales prices have depreciated 3.5% over the last 5 years in Tampa. The average listing price for Tampa homes for sale on Trulia was $334,255 for the week ending Apr 29, which represents a decline of 0.7%, or $2,456, compared to the prior week and a decline of 0.3%, or $1,113, compared to the week ending Apr 08. Average price per square foot for Tampa FL was $94, a decrease of 33.3% compared to the same period last year.
Although these numbers are down from previous years, they have been on the rise in recent months, in addition to being higher than the national average (as we know, home sales and prices are down all over the country). What these statistics DO mean, however, is that the Tampa market is the epitome of a buyer’s market. For example, the average mortgage rate for a 30-year fixed mortgage, right now, is a little under 5% — which is an INCREDIBLE rate saving YOU lots of money in the long run.
So, do you LIVE in Tampa and are you thinking of selling your home? Well, if you were to use the services of Just List ‘Em and sell your home at the MEDIAN price of $138,000, you SPEND the flat fee of $299 to list your home with us on the MLS. A traditional realtor would charge you 6% commission which equals out to about $8,280. You would save $7,981 by using Just List ‘Em!
All of these aspects of the area and real estate market make Tampa Bay a great place to buy and sell homes. And don’t forget when considering the sale of your home, trust Just List ‘Em to help YOU get your home SOLD! |
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| Why RVA is the place to BUY and SELL. |
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| May 4, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
Although Just List ‘Em sells and lists homes all over the country, we are, in fact, based in Richmond, VA. Therefore, having lived in Richmond awhile now, I’ve been able to really see how much of a thriving market exists here in the “River City.”
The Richmond area, first off, is broken down into a few “sub areas.” There are the suburbs of Richmond: Short Pump, the West End, and Highland Springs/Varina (which are considered part of the East End). AND the city itself, is broken down into various districts: the Museum District (which includes BEAUTIFUL Monument Avenue), the Fan District, Carytown, Byrd & Maymont Park, the River District (which includes Shockoe Slip & Shockoe Bottom), and historic Church Hill. No matter which area of Richmond you look at, all of them are rich and thriving with culture, a great sense of community, and timeless history.
Okay, enough of the mushy stuff. Let’s take a look at some facts and figures**:
FACT: The Richmond metropolitan area’s economy is continuing to perform better than the national economy, despite the fact that the Richmond area IS feeling some of the national trends to a certain extent.
FACT: There were 1,855 existing homes sold in the first quarter of 2009 in RVA. This number IS a drop of 18% from the first quarter of 2008. However, this number is continuing to improve on a daily basis. For example, there were approximately 453 homes sold in January of 2009, 458 homes sold in February, and 595 homes sold in March of 2009 — this number is steadily improving.
HOME PRICES: In the first quarter of 2009, the average home price of an EXISTING home sold in the Richmond Metro Area was $226,698 — down 16% from the average in 2008. Again, although that number is down from last year, it is steadily improving here in the first part of 2009.
Here is why Richmond and the central Virginia region are lucky: RVA is in a great position as far as location, continued overall improvement, economic growth, and very low mortgage rates. All of these are above the national average, placing Richmond on the map as far as great places to live, are concerned.
So, if you are looking to SELL your home in Richmond, NOW is the time. For example, if you were to list your home through Just List ‘Em and your home were to sell at a MEDIAN price of $148,500… you would save approximately $8,000 on commission at a rate of 6%. You would ONLY be paying the $299 list fee. How awesome is that?
This Richmond, VA home sold in 2 DAYS using Just List 'Em!
In fact, we have a recent Richmond, VA success story to share with you.
We received a listing on Tuesday, April 28th for a nice 3-Bedroom home with a list price of $149,900 located in Richmond, VA. The home had good curb appeal and was priced competitively for the market. The Seller was excited when the Realtors began calling him to show the house on Tuesday and Wednesday of that week. In all, there were four solid showings in the first two days on market. The user was very happy to receive a solid offer from a qualified buyer on Thursday night. This home sold in 2 days on the market using the services of www.justlistem.com.
If you have a similar success story please take a moment and share it with us. We really appreciate every single user of the service and look forward to many great listings in the future. We will look forward to connecting your house to the right Buyer using the MLS, realtor.com, yahoo, Google, trulia, etc.
Now, if you’re looking to BUY in Richmond… NOW is the time. Mortgage rates are extremely low, there’s that incredible TAX CREDIT for first-time-home-buyers, and homes are listed for sale all over the place. Try looking in one of the up and coming areas such as the Fan District or Church Hill. I guarantee you will not be disappointed by the River City.
If you have any questions for us about a particular housing market, let us know! We are always on top of the latest trends and willing to help YOU sell your home OR find and buy that dream home.
**Source: CVRMLS, GMU Center for Regional Analysis |
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| Why the Chicago Market is HOT. |
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| April 26, 2009 CLICK HERE TO VIEW OUR BLOG ON WORDPRESS |
Although we do business in many parts of the country, one of our featured locations right now is the Windy City: Chicago, Illinois. Right now, the housing market in Chicago is on the upturn and really beginning to boom.
The Chicago market is UP, just like the Spire.
Do you live in Chicago? Are you looking to move and/or relocate altogether? Are you IN Chicago looking to sell your home, townhouse, loft, or condo? Looking to purchase property in and around the city? Now is the time to really get the ball rolling.
Are you a sports fan? If so, then you probably like stats. Here are some recent Chicago housing market statistics:
The Illinois Association of Realtors reported that home sales in Chicago were UP 40.6% in March over February.
There were 840 homes sold in February of 2009. There were 1,181 homes sold in March of 2009.
The median price for a home/condo in March of 2009 was $220,000. This is an increase of 0.8% from February 2009 where the median price was $218,125.
Now, let’s crunch numbers. If you sold your home with a realtor at the median price of $220,000, you would pay, on average, $6,600 just in listing commission. If you sold your home through Just List ‘Em, you would pay the $299 flat fee to list your home on the MLS (Multiple Listing Service). That is an average savings of $6,300!
So the truth is, the Chicago market is almost hotter right now than Susan Boyle. Ultimately, why is that? Well, a few reasons.
The $8,000 first-time-home-buyers tax credit. This is quite possibly one of the most important catalysts for the upturn of the housing market right now. This tax credit, included in the final version of the stimulus bill passed in February 2009, goes to ALL first-time-home-buyers. It will not be taxed and it does NOT have to be repaid. It is, in essence, $8,000 handed to you by the government. (It will show up when you file your 2009 tax return). So, because of this awesome financial opportunity, many potential home buyers who were on the fence about purchasing in 2009 have now been persuaded to the other side and are jumping at the chance to buy a home. ESPECIALLY in and around the Chicacgo-metro area.
Short Sales & Foreclosures. A short sale is essentially the stage in which a home is on the verge of foreclosure and the seller REALLY wants to sell the house but no one is buying. A lender would rather list is as a short sale, sell the home at a very low price and lose a little money versus listing it and having it on the books as a foreclosure. Therefore, short sales are extremely attractive to buyers because buyers can save a TON of money on a potentially awesome property. Foreclosures are also attractive in that a buyer can save an estimated 10%-30% on the actual price of the property. In some cases, buyers can buy a great home and pay less than the tax value on it at closing. Now THAT is a deal! Just be wary when purchasing a short sale or foreclosed home, as these homes can come with a serious need for repair. And when in doubt, always speak with a real estate professional and get their advice.
Record low mortgage rates. According to BankRate.com, the average rate for a 30-year-fixes mortgage in Chicago is at 4.93% today, even down .03% just this week! And that percentage is still dropping. These mortgage rates are astonishingly low and make for an incredible money-saving opportunity for buyers. This is below the national average and significantly lower than the mortgage rates in past years. What does this mean, exactly? Well, when you buy a house, just like you would a car, you are going to pay interest on that item. The lower the mortgage rate, the less money you pay. The less money you pay, the more money you save. Awesome. RIGHT?
These three things create a powerful housing market in Chicago and really encourages buyers to buy and sellers to sell. If you want to sell your home, now is the time. Just like a pendulum, the market goes back and forth. It’s almost like playing double dutch. You have to jump in at the right moment or you might miss your opportunity.
Don’t forget though, if you are looking to sell your home in Chicago, don’t go through a traditional realtor or broker. Sell your home with us! Just List ‘Em. We will list your home on the MLS (Multiple Listing Service) for a flat fee and we guarantee we will sell you home quickly and efficiently and save you THOUSANDS of dollars on commission. That means more money in your pockets and big smiles on your faces. |
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