What are the services of a Realtor?
When it’s time to put your house or condo on the market, many people wonder if they are better off selling as a “by owner” or using the services of a realtor. The reason for the quandary is typically a financial one. It is a common myth that the seller will net greater proceeds from the sale of their own home or condo if they sell it themselves. In reality, buyers are typically looking for the “by owner” to drop the price of the realtors commissions as much as 6=10% below the price of comparable homes listed by real estate companies. Buyers can find a more selection of homes and a more trusted sale if they use the services of a realtor.
What are some of the benefits of using a Realtor?
- Your Realtor can help you understand the home selling process from putting your home on the market through closing.
- Advises you as to the right price for the home based on their knowledge of what comparable homes sold for in the last 6 months to 1 year.
- Assists you in determining the necessary home improvements required to get you property in the best selling condition possible and at the lowest possible cost to you.
- Develops your personalized marketing plan and places your home in the Multiple Listing Service to reach as many qualified buyers as possible.
- Handles the showing of your property so your schedule is not tied up keeping appointments with prospective purchasers.
- Negotiates the offer to purchase objectively to obtain the highest possible price for your home.
- Leads you through the home inspection phase and negotiates on your behalf
- Tracks the various stages of the sale from contract to closing.
- Coordinates with all parties involved to provide all the information needed to bring the sale to a successful close.
When using the services of a realtor these are only a few of the things they do for you, the seller. Selling your home is a big deal and most people don’t sell more than two homes in their lifetime so it is not something in which they develop an expertise. There are ever changing laws, ethical considerations and practical considerations that most home sellers do not want to learn through trial and error. Your home is most likely your most valuable financial asset and the last thing you want to do is jeopardize that, it’s just not worth the risk.
Sell Your Condo
When it’s time to sell your condo and put it on the market, many people wonder if they are better off selling as a “by owner” or using the services of a Realtor®. The reason for the quandary is typically a financial one. It is a common myth, actually, that the seller will net greater proceeds from the sale if they sell it themselves. In reality, buyers are typically looking for the “by owner” to drop the price of the realtor’s commission as much as a whopping 6-10% below the price of comparable homes listed by real estate firms. Otherwise, they can find more selection of homes and a more trusted sale if they use the services of the realtor.
Time is Money
How much is your time worth? If you don’t use a real estate professional, expect to spend at least 100 hours selling your condo – assuming there are no problems! Considering your work, family, and personal commitments, is that the best use of your time?
It’s a Big Deal
Selling a condo is a big deal. Most people don’t sell more than two homes in their lifetime, so it’s not something they develop expertise in. There are ever-changing laws, ethical practices and practical considerations that you don’t want to learn on your own through trial and error or relying on a book or information off the Internet. It’s just not worth the risk.
When selling a condo Your REALTOR®...
1 - Helps you understand the home selling process from putting your home on the market through closing
2 - Advises you as to the right price for the home based on their knowledge of what comparable condos are being sold for
3 - Assists you in determining the necessary home improvements required to get your property in the best selling condition possible for the lowest cost possible
4 - Develops your personalized condo marketing plan and places your listing on the exclusive Realtor® Multiple Listing System to reach as many buyers as possible
5 - Handles the showing of your property so your schedule is not tied up keeping appointments with prospective purchasers
6 - Conducts informative and professional tours of your home through open houses
7 - Negotiates the offers to purchase to obtain the highest price possible for your condo
8 - Tracks the various phases involved in meeting your contractual obligations as the seller
9 - Leads you through the home inspection phase and negotiates on your behalf
10 - Coordinates the supporting contractual paperwork required for settlement
11 - Organizes the details of your settlement amongst all parties to ensure a smooth transition
Why Should I Buy Now?
All we hear right now is about unemployment, health care reform and bailouts. That doesn’t mean there has not been talk of the real estate market and what is happening in that part of the economy. The question I am hearing more each day is, why should I buy now? Depending on who you listen to the market may or may not be at its bottom and who in all reality can forecast it. Many of those so-called forecasters were the ones that missed all aspects of the economy as it was tumbling downward. And down is not always a bad place to be since the only other way is up. Whether we are at the bottom, close to the bottom or on our way up it is a good time to buy your home or condo.
Why should I buy now? There are several factors that are in your favor by acting now.
Pride of ownership is the number one reason people want to buy a home. Home ownership offers you and your family a sense of stability and security while making an investment in the future.
Home ownership is currently one of the best tax shelters available with the volatility of today’s stock market. Mortgage interest is fully deductible on your tax return which lessens your tax burden year after year.
Mortgage reduction builds equity in your home. Each month you make a payment the principal portion of your loan goes down and as the principal goes down and the price of your home goes up, you are building equity or more asset value.
Another reason to ask yourself why should I buy now is interest rates are lower than they have been in years. Do you realize that you may be able get a 30 year fixed rate for less than 5% which makes a purchase start to look very appealing and if you tie that with anticipated inflation you will be paying back the loan with devalued dollars meaning you are getting more for your money than when you started. That means you can afford more home or if you want you can buy a more reasonably priced home and keep the payments low, maybe even less than you are paying in rent. Would you have imagined several years ago that you could get free money and a great interest rate on buying a home? If you are like most of us you would have laughed us out of the place, but it is happening now. We would never have guessed it, just like we are never going to guess the bottom of the housing market. So just do it!
Real Estate Jobs
Real estate agents are licensed professionals requiring completion of initial educational requirements and to maintain their license they are required throughout their career to take continuing education courses. It is not an easy task to become a licensed realtor and to succeed requires time, energy, creativity and money. Most real estate agents are independent contractors which means they pay their own expenses no matter if the market is booming or bust. As with most parts of the country real estate jobs are currently plentiful but opportunities are there for the taking if you have that entrepreneur spirit that most successful real estate agents possess.
Most people think real estate agents do nothing all day but drive around in their big cars, show a few homes, go to the country club and pick up a big check every few weeks. Nothing is further from the truth. The true job description of a successful real estate agent is longer than most CEO’s of major corporations. Agents are small or big depending on their success, independent business owners who must be counselors, financial experts, expert negotiators, educators, marketing specialists, public relations experts, and more often than not a chauffeur. When it comes to buying or selling real estate there is little a real estate agent does not do for their customer or client.
Real estate jobs in major metropolitan areas offer their own set of challenges and real estate jobs in Chicago are no different. Chicago is approximately 228 square miles covering over 77 different neighborhoods. As an agent how do you choose what areas in which to work? Obviously you would like to work close to home but that is not always possible or the best choice. Agents many times travel long distances and work long hours to service their customers and clients. Real estate agents derive most of their business from friends, family, and the referrals they generate which means they will list or show property over the entire metro area as well as surrounding suburbs and counties.
The real estate business can be a rewarding career but not for the faint of heart. Real estate jobs offer many challenges and opportunities for those who possess that entrepreneurial spirit and are willing to put in the time and effort required to be successful. For those of us who have made real estate a lifelong career there is no other job or career that can compare.
Clark Condominiums
The frigid wind is whipping off Lake Michigan this winter but soon we will be enjoying the delightful spring breezes. That is the time to visit Chicago. But rather than follow all the tourists to Michigan Avenue, consider discovering North Clark Street. On Clark street you will find Japanese art stores, unique second hand boutiques Clark condominiums, Wrigley Field, and Swedish pancakes that melt in your mouth. A five mile journey north on Clark takes you through three distinct neighborhood – Lincoln Park, Lakeview/Wrigleyville, and Andersonville. In each you can experience Chicago’s past, its people and its gusto.
At Clark and Addison is a dramatic thing to stumble on – Wrigley Field. It is one of those neighborhood parks that brims with sentimentality, tradition, and a love for the great American pastime. Built in 1914, it’s the oldest stadium in the National League. It is known for the thick ivy that grows along the outfield wall. Fans sit in old-fashioned bleachers, and a 1930’s scoreboard still keeps tabs manually. Many people live in the area in newly built or re-furbished condos surrounding the historic field such as Clark Condominiums. Cubs games are enjoyed on neighborhood rooftops and their cheers often echo up and down Clark Street. The area around Wrigley is just not for baseball. It is one of the premier party areas in Chicago. The 3400 block of Clark Street, just south of Wrigley Field is home to an eclectic group of stores , restaurants, and bars. Win-loss flags after each game signals to El riders whether to get off and join the celebration.
Going a little farther north on Clark Street at the northern edge of Wrigleyville is Graceland Cemetery. The father of the Chicago school of architecture, Louis Sullivan, designed several tombs and is buried there with notable such as George Pullman and Marshall Field.
About a mile north of Graceland is the Andersonville neighborhood. Banners read, “Valkommen” at Clark and Foster streets. Welcome to Swedish America. Between 1890 and 1930, Swedish was the most prevalent language spoken. After the depression the community suffered from neglect until it was rededicated in 1964. In the late1980’s Andersonville became a revival as professionals discovered it’s housing stock and proximity to downtown and the lakefront. Andersonville is now considered one of Chicago’s “hot” neighborhoods. It enjoys national renown for its unique commercial district comprised almost entirely by locally owned, independent businesses. Communities everywhere now look to emulate Andersonville as a model of a thriving urban neighborhood.
Clark condominiums offer excitement and entertainment is some of the most historic areas of Chicago and is not a place to be missed.
Naperville
The American dream of owning your own home has changed over the last couple of decades. The dream is still alive but the options have changed dramatically. One of the fastest growing segments of property sales and areas today is Naperville condos. Owning a condo has many things in common with owning a traditional home, but it is the differences that count. It is important before you make that jump into home ownership that you know the area and whether a traditional home or condo is right for you.
If you are not familiar with Naperville it has become one of the largest cities in Illinois. In fact, Naperville is the fifth largest city in Illinois with its population surpassing such cities as Springfield and Rockford. Settled in 1831 by Joseph Naper and several other families, eventually splitting from Cook county to become the county seat of DuPage until 1868. For most of its existence the Naperville area was mostly rural but over the years the attraction of residents leaving Chicago has made Naperville one of the wealthiest cities in Illinois and in 2006 was ranked by Money Magazine as #2 on its list of America’s best cities in which to live. This migration mostly in the 1990’s with professionals seeking jobs along the technological corridor and highly ranked schools have made Naperville condos an attractive option to more traditional styles of real estate.
When you are looking for Naperville condos not all real estate agents are familiar with the nuances of these types of properties. Real estate transactions are most likely the biggest financial investment most people will experience in their lifetime, so it is even more important to find the right person for the job. But how do you choose the right person for the job? First of all with most any financial transactions you will want to make a thorough search which can be done quite easily by attending open houses to see how agents work and to meet them first hand. The agent you want to help you find that condo of your dreams is someone who is familiar with the local market and can tell you all you need to know about the area. Ask the prospective agent how long they have been licensed, how long they have worked in the condo market and how many sales they have closed in recent months. Ask for references and talk to your friends and family about who they would recommend and why. Once you have found the right agent you are well on your way to realizing the American dream of home ownership.
Bucktown
Chicago has over 77 different communities and over 210 neighborhoods within its boundaries many of which are of ethnic origin. Bucktown is one of these communities which were established mainly by Polish immigrants early in the 1800’s seeking refuge from their war-torn country. It is believed the name originated from the large number of goats the early settlers raised in their backyards, (male goats are known as bucks). Today you will not see any goats but the neighborhood is full of Bucktown condos and lofts.
The neighborhood bounded by North and Fullerton Avenues is a slightly less expensive alternative to many other areas in Chicago, although prices are rising for Bucktown condos. In the mid 1980’s a growing group of artists emerged creating an artist colony which identifies the neighborhood today. Bucktown’s past is seen through its one-hundred year old buildings, cobblestone paths, and historic churches, remnants of the early Polish immigrants. The neighborhood’s past is evident but so is its future. Contemporary architecture is found next door to vintage buildings in this neighborhood. Because of its status as a hot spot to live real estate developers moved in and started converting older buildings into loft spaces and constructing new low-rise condominiums and Bucktown condos were off and running. The new construction and refurbishing of buildings in the area lead to widespread gentrification and an increasing number of young working professionals. Most of these buildings offer home and condo buyers updated features like granite kitchen counter tops, new stainless steel appliances, hardwood flooring and remodeled bathrooms, not to mention private balconies and rooftop patios. With this renewed interest in residential property business was soon to follow. Businesses such as upscale stylish stores, trendy restaurants, and bars dot the area and are considered one of the most fashionable places in Chicago to live.
Primarily a residential neighborhood, Bucktown is a mix of single-family homes, converted lofts and Bucktown condos. The average price for a one bedroom condo runs in the mid $200’s and a two bedroom can run up to $300,000. A three bedroom single family detached home runs about mid $650’s. Bigger places that have been completely rehabbed with upgraded amenities can run as high as $800-$900,000. Private residences with more than three bedrooms in Bucktown can push upwards of a million dollars. Today young adult professionals are flocking to Bucktown in droves. Its status as a hot spot to live has made this Chicago neighborhood one of the most sought after residential areas in which to live.
Services of a Realtor
When it's time to put your house or condo on the market, many people wonder if they are better off selling as a "by owner" or using the services of a realtor. The reason for the quandary is typically a financial one. It is a common myth that the seller will net greater proceeds from the sale of their own home or condo if they sell it themselves. In reality, buyers are typically looking for the "by owner" to drop the price of the realtors commissions as much as 6=10% below the price of comparable homes listed by real estate companies. Buyers can find a more selection of homes and a more trusted sale if they use the services of a realtor.
What are some of the benefits of using a Realtor?
- Your Realtor can help you understand the home selling process from putting your home on the market through closing.
- Advises you as to the right price for the home based on their knowledge of what comparable homes sold for in the last 6 months to 1 year.
- Assists you in determining the necessary home improvements required to get you property in the best selling condition possible and at the lowest possible cost to you.
- Develops your personalized marketing plan and places your home in the Multiple Listing Service to reach as many qualified buyers as possible.
- Handles the showing of your property so your schedule is not tied up keeping appointments with prospective purchasers.
- Negotiates the offer to purchase objectively to obtain the highest possible price for your home.
- Leads you through the home inspection phase and negotiates on your behalf
- Tracks the various stages of the sale from contract to closing.
- Coordinates with all parties involved to provide all the information needed to bring the sale to a successful close.
When using the services of a realtor these are only a few of the things they do for you, the seller. Selling your home is a big deal and most people don't sell more than two homes in their lifetime so it is not something in which they develop an expertise. There are ever changing laws, ethical considerations and practical considerations that most home sellers do not want to learn through trial and error. Your home is most likely your most valuable financial asset and the last thing you want to do is jeopardize that, it's just not worth the risk.
Hyde Park
Until recently unless you were familiar with Chicago you might not have heard much about Hyde Park. Today with president Barack Obama among other notable residents the area is in the news and a resurgence of popularity has ensued. The area known as Hyde Park was first settled in the 1850's by successful businessman Paul Cornell, a real estate speculator, with the hopes of attracting Chicago's business leaders who wanted homes near the lake but within easy reach of the city's financial district in the Loop. By the early 1890's the area grew with the founding of the University of Chicago by John D. Rockefeller and later in the decade with the area hosting the World's Columbia Exposition. Today one of the original structures still stands, once known as the Charles Atwood's Palace of Fine Arts which was converted into the Museum of Science and Industry, a well known museum of Chicago's school children for over a century.
Hyde Park has seen its troubles over the past 100 years but has always managed to survive most notably with the Hyde Park-Kenwood Community Conference which initiated one of the largest urban renewal projects in the nation. The project resulted in the demolition and redevelopments of entire city blocks of decaying housing with a goal of creating an interracial community of high standards. As a result the average income soared and middle class Blacks were offered increased opportunities for employment and home ownership.
Today Hyde Park is considered one of the most prestigious areas in Chicago in which to live. The proximity to the lake and the rich history of the area has encouraged residential development along side the vintage buildings and architectural gems designed by famous architects such as Frank Lloyd Wright and Mies van der Rohe. The area is known for a mix of ethnic restaurants, coffee house bookstores, live theater and historic landmarks. The atmosphere of the entire area is one of a multi-cultural mix of an interracial community with the academia of the University of Chicago and the Chicago Theological Seminary. The area is second only to the downtown museum campus with the most extensive list of cultural organizations in Chicago. There is no place quite like it anywhere in Chicago which is why property values continue to soar. The area dubbed by the Chicago Sun Times as "Hot Hyde Park" and listed by Money Magazines as "Top Neighborhood" in 2002 has made Hyde Park one of the most desirable neighborhood in Chicago.
Chicago Condo Properties
Home ownership on any level is wonderful. Nothing gives you a sense of pride like owning your own place and if you live in the Midwest there is nothing quite like Chicago condo properties in which to live. Condo ownership has some very distinct advantages versus a single family home. Let's say you really hate to mow the lawn, trim and pull weeds, then condo living is where you want to be. Maybe you travel a lot for your job or have hobbies that you want to pursue then, condo real estate is what you need. You love to sit around the pool but can't afford one. You have few friends and you want to meet new people. You would really like a large home in a gated community with rules and regulations but can't afford it. Last but not least, there are some great deals in today's market interest rates are lower than they have been in years. All of these things and more are an excellent reason to buy a condo.
Chicago condo properties have become more and more like their own communities. Today tight knit groups of friends have evolved due to the condo living lifestyle. A close group of friends creates a sense of security knowing you will always have good friends around to help no matter the situation. This sense of community offers frequent social events to take place at the pool or clubhouse which offers many different types of social activities with the total cost spread around rather than paid by a single homeowner.
Condos are king in Chicago when it comes to residential real estate. When it comes time to Chicago condo properties, there are many areas in which to choose. Chicago is certainly known for its downtown skyscrapers but there are numerous other areas that have their own flavor which offers some of the best values in residential real estate. One definite advantage in the Chicago real estate market when buying a condo is that prices are holding steady and there are numerous developments currently underway or proposed for this year. Construction crews are putting up new buildings and older places are being refurbishing to create condos and lofts. It is estimated that over 4000 units will be built in Chicago in 2009 which puts buyers in a great position to get what they want for a good deal.
There are many Chicago condos for sale in a variety of communities and neighborhoods. Chicago is known for its ethnic groups and communities where condos are being built or re-furbished in almost all of these areas. If you are looking for a different lifestyle in a vibrant community atmosphere there is no better place to look than Chicago!
