Fox Valley Real Estate Blog - For Sellers

How Long Will It Take To Sell My House?

You want your house to sell fast. And you may be wondering how long the whole process is going to take. One way to get your answer? Work with a local real estate agent.

They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way you have realistic expectations and can work together to come up with a plan that’s based on today’s market.

Here’s a high-level overview of just one of the factors a great agent will walk you through – the supply of homes for sale and how that impacts your process.

The Growing Supply of Homes for Sale

Over the past few months, the number of homes for sale has increased. This is good news when you move because it means you’ll have more…

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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Home Prices Are Expected To Climb Moderately

Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:

The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains:

While inventory is up compared to the last couple of years, it’s still low overall. And because…

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The Downsides of Selling Your House Without an Agent

Some Highlights

• Considering selling your house without an agent? You should know there are some serious downsides to handling it on your own.
• You’ll be missing out on marketing tools that draw in more buyers, pricing and market expertise, essential negotiation skills, in-depth knowledge of the fine print in contracts, and so much more.
• Don’t take all of this responsibility on. Instead, let’s connect so you have someone with the knowledge and experience you’ll need on your side.

Previously posted at Simplifying The Market.

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Do Elections Impact the Housing Market?

The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market.

It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans.

Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods.

Home Sales

During the month of November, in years when the Presidential election takes place, there’s typically a slight slowdown in home sales. As Ali Wolf, Chief Economist…

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Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.

The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.

But a recent article from Redfin notes,

And that might make you think prices are declining.

Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price reductions in May, which is up from 12.7% last May, that doesn’t mean overall home prices are falling.

The key is knowing the difference between…

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Selling Smart: Why a Real Estate Agent Makes All the Difference

If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress. Going this route means shouldering a lot of responsibilities by yourself – and, if you’re not an expert, that opens the door for mistakes to happen and can quickly become overwhelming.

A report from the National Association of Realtors (NAR) shows two key areas where people who sold their own house struggled the most: pricing and paperwork.

Here are just a few of the ways an agent makes those tasks a whole lot easier.

Getting the Price Right

Setting the right price for your house is important. And, if you’re selling your house on your own, two common issues can happen. You might ask for too much…

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Your Equity Could Make a Move Possible

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. Maybe you’re in the same boat.

But what if there was a way to offset these higher borrowing costs? There is. And the money you need probably already exists in your current home in the form of equity.

What Is Equity?

Think of equity as a simple math equation. Freddie Mac explains:

Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid…

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What To Expect if You Buy or Sell a Home This June

June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.

If You’re Buying This June

A lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now – and that means you’ll want to be ready for a bit more competition. But there is a silver lining to a move this time of year. This is also when more sellers…

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How an Agent Helps Market Your House

You’re ready to sell your house. But what do you need most from your real estate agent? Well, the National Association of Realtors (NAR) asked that very question to recent sellers and found one of the top things they were looking for is help marketing their house to potential buyers. Maybe that’s what you need the most help with too.

You expect your real estate agent to write a great description of your house for the listing and pair it with some high-quality photos. But that’s not all you’re going to get when you partner with a great agent.

They’ll do a lot more to make sure your house stands out. Here are some of the most common methods real estate agents use to market homes according to that same report from NAR (see graph below):

So,…

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Lake in the Hills Real Estate: Insights and Predictions for Buyers and Sellers

Discover Opportunities in Lake in the Hills Real Estate

Welcome to our comprehensive exploration of Lake in the Hills real estate! Whether you're a potential buyer, a homeowner looking to sell, or simply interested in the local market dynamics, this blog post is tailored to provide you with all the necessary insights into the evolving real estate landscape in Lake in the Hills, IL.

Why Consider Lake in the Hills Real Estate?

Lake in the Hills is witnessing a significant upswing in its real estate market, fueled by a strong local economy and a noticeable increase in housing demand. This positive trend presents lucrative opportunities for both buyers and sellers, making it a focal point for real estate activities.

What Buyers Need to Know

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