For those who own Single Family Homes here in Lincoln Square, there is some good news.

We have an increase of 155% in closed sales for the last 180 days compared to the previous 180 days in 2008!

What is selling in Lincoln Square are homes in the $500K to $800K range.  So if you fit in that price range and are thinking about moving, give me a call to discuss how these homes closed.

In the last 180 days, we have seen an increase of median value at 3.9%.

What isn't moving so fast are the homes in the $950K and upper bracket price range. 

Looking for a good value? 

There are some upper bracket new construction homes that haven't moved.  The builders are defaulting on these loans because of the enormous carrying cost and their overhead.  Construction has cut way back and while it has cut back, the issue lies with the banks willing to lend money on one of these homes.  Underwriting guidelines have gotten rigid and that makes financing tough and hence puts these great builders in a bad light. 

If you are thinking about selling, then here are some suggestions to get yourself sold:

1.  No games.  Price your home in the market.  There are alot of homeowners that are "testing the market" and those games cannot be played.  Not anymore.  It is time we grew up and faced the facts that there are some very good qualified buyers out there.  They aren't looking to be take advantage of the market but more, they don't want to pay for a home based on an impulse price purchase and as usual, in the past, the buyer's didn't care because appreciation would bring them up in the next 9 to 12 months.

NOTICE:  The days of impulse price purchasing are over.  Bottom.  While you may want to pay more for a home then what it is currently worth, your bank won't be appraising it out based upon what it will be worth in 9 - 12 months.  There is raw data available at your fingertips for the true price.  Be realistic as a seller, as a buyer because the Bank IS realistic.

2.  Understand and recognize the value of your location.  Are you close to parks, transportation, or are you looking at manufacturing plants when you walk out your front door?  Are you next to commercial (external obsolescence)?  These are things that effect your properties value and marketing time.

3.  Emotions.  Park them at the curb.  Look at your home through the eyes of the buyer. 

4.  De-Clutter.  Pack 'em up.  You have alot of clothes and your closet is stuffed?  Guess what the buyer will remember?  Wondering how you got your clothes in and out of the closet without the bar falling down!  You are selling your home not the messes, not ideas on wondering how in the blue blazes you can function in the home.  Put things in storage.  Go to Home Depot and buy those 8 wooden hangers for $5 a pack.  Put your clothes on wooden hangers.  It gives the closet "class" and better yet it makes a strong impression on the buyer.

5.  Paint.  Fresh paint is the icing on the cake that gets your home sold.  If you have some bold, strong colors such as "canary yellow" in semi-gloss in your bathroom .. guess what?  Painting time.   Buyer's do not like strong colors that are vibrant.  Also, there is more then semi-gloss in the paint store.  Living Rooms, Dining Rooms have walls that shouldn't be touched by children (according to my mother's rules).  Those should be painted in a good quality flat, egg shell or satin paint. 

7.  Curb appeal.  Gotta have it.  Would you ever date someone who didn't look so great because they didn't have "curb appeal"?  That first impression, bet every last one of you put out your best to impress.  What makes you think the same doesn't apply to your house?!!  If you have overgrown bushes, I'm going to tell you now that it will cost you roughly $2-5K in value in that offer because you have overgrown landscaping.  To have no landscaping is worst then having overgrown landscaping!  For a serious $250 - 500, you can redo that front yard and get some good bushes, tree (if you don't have one). 

Don't know how to do the curb appeal.  Give me a hollar.  I redesign front yards about 30 times a year.  We get them sold. 

Well, I must close right now but I have given you some food for thought.  Give me a shout if you have questions.