buying a home: The iPad Really is a Game Changer - 08/14/12 01:14 AM
Most people who work in real estate have heard how valuable the iPad can be. I’m quickly learning that an iPad isn’t just valuable, it’s essential, especially when working with the Millennial Generation. 
I showed houses this weekend to a lovely young couple buying their first home. We’re working our way through the different communities and looking for just the right home. Yesterday, after watching Mr. Buyer stray away a few times while staring intently at his iPad, I realized he wasn’t memorizing the room sizes. Mrs. Buyer sighed and said “it’s Tiger”. I nodded and kept chatting, but then it dawned on me: Tiger referred to a golf thing. Apparently Mr. Buyer was live-streaming the golf … (46 comments)

buying a home: How Much Should I Pay for That House? - 07/12/12 01:50 AM
As the housing market in St. Charles continues it’s steady improvement, more buyers are out looking for their next home. No buyer wants to overpay so I do a pretty extensive analysis to determine a fair price for the house. See an example of one of my spreadsheets below.
I use the MLS to find a decent size sample of recent comparable sales of similar property types that are in the same area as the subject property. Since few houses are exactly alike I make price adjustments for the difference in a side by side comparison. For example, if the subject property has a … (16 comments)

buying a home: Why Do Buyers Give Up? - 10/29/11 06:28 PM
Why Do Buyers Give Up? A recent article published by the National Association of Realtors titled Abandoning the Home Sale shows that ability to get financing continues to be the primary  reason that buyers do not move forward with home purchases. Over 60% of the buyers represented by the agents surveyed  did not have sufficient funds for a down-payment and 40% did not qualify for a loan that did not come with a government guarantee, such as an FHA loan with a low down-payment.
In my experience selling homes in the western suburbs of Chicago, I speak with many buyers who would like … (53 comments)

buying a home: I Want a $500,000 House for $300,000 - 08/14/11 04:40 PM
People sometimes have a hard time deciding what they want in a house. “I want a $500,000 house for $300,000″ said the buyer after the fifth trip out.  Hmmm…at each house we have judged and debated the rooms, layout, paint colors, features and location. One house is too big, the next too small, another needs a new roof or major updates to the kitchen and baths. Some are too far from work while others are on busy streets.
After spending many, many hours online and a fair number of hours out looking, this buyer seems no closer to finding a house … (15 comments)

buying a home: Which One Would You Choose? - 03/30/11 06:52 PM
Some people think that Realtors sell houses. What we really do is help people choose homes.
Even the most experienced Realtor should be careful when a buyer asks: which one would you choose? There can be many good -- even great -- choices. Buyers usually know what they don't want. But unless the agent is moving in with her client, she must help the buyer make his best possible decision.
After a buyer has selected a community and a neighborhood, I help the buyer to evaluate their choices on a scale that includes both price and condition. My checklist is … (20 comments)

buying a home: What Do Buyers Want? Sprinkles or Filling? - 02/10/11 04:17 PM
Most folks used to be content with a nice slice of yellow cake on a special occasion. Now people want elaborately flavored and decorated cupcakes every day of the week.
Some home buyers have also seen one too many cupcake shows on HGTV and think more about the sprinkles than is good for them. But even these buyers may not be willing to pay for for everything they say they want.
An over-improved house -- if over-priced to match -- can be harder to sell than the more modest home. Very few buyers will pay for extravagant personal choices that the … (91 comments)

buying a home: Sorry, Buyers Do Not Want Your Home - 02/02/11 05:23 PM
If you are thinking of selling your home you might be pondering over what buyers want. That's a good start, but maybe you should come at it from the other direction: buyers do not want to buy your home. Buyers do want to buy a house that will become their home. Think about these things to make your home into a house that a buyer will want.
WHAT HOME BUYERS DO NOT WANT Buyers do not want to do mental gymnastics to envision themselves living in a house. Don't make people do too much work to understand the layout, rooms and … (64 comments)

buying a home: 8 Reasons Why your House Won't Sell - 12/13/10 02:22 AM
 
Lyn Sims has written a nice list of "don'ts" for people trying to sell their home. Most people try to have their homes looking nice, but buyers can quickly rule out those that show poorly for any reason. There are just not enough buyers at some price points, so a seller who's home isn't compellingly priced and perfectly presented will quickly get passed over.
 
8 Reasons Why your Home Won't Sell 1)  Your Home is just not up to Snuff - There is plenty of stiff competition our there in the marketplace and buyers just don't want to deal with the … (7 comments)

buying a home: It Is Not a Buyer's Market - 07/14/10 06:11 PM
So many sellers and buyers are thinking and operating as though this is a "buyer's market" like that in 2003-2005 when a sign went up in a yard and agents would send in offers because they knew the house would be sold by the end of the day. Here in the Fox Valley, we are NOT in this past style of a "buyer's market".
Here in St. Charles, Geneva, and Batavia only a certain percent of the listings are "buyable". This isn't a technical term (and probably isn't even a word), but it is my definition of a house that can … (5 comments)

buying a home: Let's Treat Our Clients Like Adults - 03/31/10 03:30 AM
There has been a lively debate over the past few weeks about unrealistic sellers and buyers. I think that agents can have much better experiences with clients when working in a spirit of mutual respect. I have a couple of comments that I think help people think things out.
First, I am a numbers nut. I think it helps in this market to deliver lots of data and every possible analysis to your client on a regular basis. That said, I think a lot of stress in pricing and negotiation comes when there is a disagreement over a home's value.
1) … (11 comments)

buying a home: Realtors Get Another Dose of Tough Love - 02/24/10 01:25 AM
Home ownership is a unique convergence of economic self-interest and personal desire. Our current "housing crisis" is partially based on the home buyers -- and their Realtors -- who disguised unmitigated desire with a veil of long-term economic interest. Buyers made decisions based on opinions from "friends and neighbors" and the flood of media messages: "Housing Values Increasing, Credit is Easy, Buy Today". Honestly, now that we're living through the mop-up from the 2000s, why would we repeat the same behavior? Should we really base long-term financial decisions on Tweets?
In today's January 24 edition of Inman News, Robert Han asks … (5 comments)