lake zurich...and beyond

I cancelled a listing today. You might say I quit. This is not something I take lightly or do often. But in this case, it is the best thing I could have done, both for myself and for my clients. After much deliberation and discussion back and forth, they've decided not to move, because they want the highest and best price...but not the highest and best price in today's market. They want the highest and best price...from 2005.

I'm good, but I'm not that good.

I simply can't turn back time and make their house worth what it was worth just a few short years ago. I wish I could.

It's not for lack of trying! I tried, tried, and tried again. I pulled out all the stops for this one (as I do for every listing), and we had lots of showings...in fact, my marketing efforts produced twice the average amount of showings currently being experienced in my market today. But the price was simply not in line with the current market conditions. I presented all the comps and market statistics and reports. I even begged (a little). In the end, however, while my clients appreciated all my efforts and hard work, they just weren't willing (or motivated) to accept the current state of the market. It's an amicable split.

I give my all to every client, every listing. So it pains me when I'm unable to see it through to the end. We are told as kids to never quit, to never give up. But sometimes you need to know when to walk away. Today I did just that.

My son is a senior in high school and has applied to four universities: The University of Illinois, Indiana University, University of Iowa and Michigan State University. So far, he has been accepted to three of them (one doesn't provide a decision until mid-December) and has even been offered some scholarship money. To help him in his decision, I've put together a comparison spreadsheet with the pros & cons of each school and the tuition breakdowns. One school has a video game design specialty, another is the top-rated computer science school. One has a beautiful campus, the other is more prestigious. He is already going to be facing a difficult decision, and yet, he is wondering...should I apply to a few more schools?   

THEN IT DAWNED ON ME...TODAY'S BUYERS ARE JUST LIKE MY SON!

Faced with so many homes to choose from, buyers are unable to make a decision. Each house has different pros and cons, yet all will meet their basic needs. Even when they are able to narrow it down to a few top choices, they still wonder...what if something else comes on the market?

The bottom line is that when faced with too many opportunities, the decision making process becomes more difficult, even overwhelming. It doesn't matter whether someone is buying a house or choosing where to spend the next four years. With too many choices, some people will simply delay making any decision at all. Luckily, my son has a deadline; unfortunately many of our buyers do not.

Of course, it is perfectly natural when faced with a big decision to worry about making the "wrong" choice. The bottom line is that we need to guide our buyers through this maze the same way I am trying to guide my son...by helping them narrow down their choices, making sure the houses they see fit their financial budget and also making sure the houses meet the majority of their basic needs (perhaps assisting them in making a pros/cons spreadsheet).

But don't push! It doesn't work with my son and it won't work with our buyers. They are worried that they will be pushed into making a decision and it will be the "wrong" one. We need to remind them that we are there to offer guidance, knowledge and support, not to "sell" them a house. The house will sell itself to them if it is the right house. I try to reassure my buyers by telling them: "Don't worry! You will find the "right" house! You will not pay more than what the house is worth! And most importantly, I will not put any pressure on you to buy!"

Keep them focused, guide them through the maze, reinforce their choices (backed up with facts), and then take a step back and let them make their own decisions. Just like I need to do with my son.

Welcome to Lake Zurich, Illinois! As a resident of Lake Zurich, I know what a great place this is to live, work and raise my family.

But did you know that Lake Zurich was named by Frommer's as one of the top hundred "Best Places to Raise Your Family" and by U.S. News as one of the "Top Twenty-Five Affordable Places to Live in the Country" in 2006?

Come on...take a look around!

I'm often asked if Lake Zurich has a lake. Yes, it does! Here are some photos of our beautiful lake and promenade.

 In addition, The Lake Zurich Parks and Recreation department offers plenty of programs and activities for the entire family. Whether you are looking for a nearby playground, guitar lessons or yoga classes...you can find it all right here in Lake Zurich.

You may have noticed many road improvement projects and new construction in Lake Zurich and wondered, "What is going on?" Lake Zurich is currently undergoing a long-awaited downtown revitalization program. There are new townhomes, like the Residences of Lake Zurich (left) and sites have been cleared for buildings like The Grandview (right).

It's an exciting time for residents of Lake Zurich as we begin to see the long-awaited changes taking place. I'm proud that Lake Zurich has a vision to become a thriving and vibrant family gathering place...a place where businesses and the community will both benefit!

Take a look at our beautiful Lake Zurich High School and it's modern Performing Arts Center. This is where both of my boys spend their days. My youngest is a Freshman and my oldest is a Senior.

Go Bears!

Lake Zurich is very proud of the Ela Area Public Library (left). It is a gorgeous facility and offers many programs for young and old alike, in addition to books! Just down the street from the Library is the Lake Zurich Police Department (right), always doing their best to provide professional law enforcement services to the community.

Lake Zurich offers a variety of housing options. If you're considering a single family home, you will most likely encounter tree-lined subdivisions and neighborhood parks, like these in Chestnut Corners and Hunter's Creek. Of course, Lake Zurich also offers townhomes, condominiums and apartment rentals in addition to single family residences.

For friendly and professional real estate services in and around the Lake Zurich area, contact me today! I'm here to help.

I have a little confession to make:

It has always been one of my favorites. When I was in elementary school, I loved that you were able to dress up in your costume and wear it to school! The whole school day was one big party! We would parade around town in our costumes and do Halloween art projects, eat cupcakes and other goodies.

As an adult, I loved walking my boys around the neighborhood in their Luke Skywalker or Mummy costumes (yep, that's them in the picture). Now that they are in high school <sigh> I still look forward to hearing my doorbell ring and the sing-song "trick-or-treat" being called throughout the neighborhood by the next generation. I'm always the first one in the family to hop up to hand out the goodies!

There are several ways to celebrate Halloween this year in the Lake Zurich area. First of all, trick-or-treat hours will be from 3-8 p.m. on Wednesday, October 31. It's a great excuse to leave work early!

If you like Haunted Houses...here are a few to choose from:

 St. Matthew Lutheran Church, located at 24500 N. Old McHenry Road, Hawthorn Woods:  The adult house will be open from 7-11 p.m. October 26-27. ($12 admission) and the kiddie house will be open from 1-4 p.m. on October 27 ($6 admission).

The Lake Zurich Haunted House, located at the Barn in Paulus Park:  Open from 7:30-11 p.m. October 26-27 ($8 admission). There is also a children's matinee open from noon-2 p.m. on October 27 ($3 admission).

The Kildeer Police Department is also hosting it's 3rd Annual Halloween Open House at the Kildeer Village Hall, located at 21911 Quentin Road: Kids (and adults) can get a tour of the Police Department, sit in a squad car, enjoy a coloring contest, ice cream & other goodies. Costumes are welcome!

If you would like a little spooky Halloween fun, take a drive along Cuba Road...which some people believe is haunted! Just don't pick up any hitchhikers...

Have a fun and safe Halloween!

If you were among the first to register your phone number on the National Do Not Call Registry, it may be time to re-register if you want to avoid those annoying calls from telemarketers.

Simply visit www.donotcall.gov to re-register and enjoy an additional 5 years of peace and quiet!

If you are not sure which number(s) you registered or when your registration expires, you can verify your registration information on the website as well. I found out that my registration doesn't expire until December 23, 2009.

Now if only the Do Not Call Registry prohibited those "recorded messages" from political candidates...ah, well, nothing is perfect.

Remember, unless you specifically request that I contact you by telephone, I will not call you. I respect your privacy, both online and at home. For more information on my policies for website visitors, please read my previously posted blog: No Thanks, I'm Just Looking

If you are considering buying or selling real estate in Lake Zurich or the surrounding areas, please contact me. I'm here to help.

What does it mean when someone claims they don't have the time to do something? Have you heard any of these lately?

"I don't have time to exercise"

"I don't have time to cook"

"I don't have time to watch TV"

"I don't have time to blog"

The truth is, we all have the same amount of time in each day...it's all about how we spend it. "I don't have time" usually translates as "I don't want to."

Not that there's anything wrong with not wanting to do something, but why hide behind the "I don't have time" statement? We all juggle multiple activities as we try to balance work and home life. We make time for the things we really want to do.

How about the "I don't have time to blog" statement? I've heard that one from countless real estate agents that I've encouraged to jump on the blogging bandwagon. When it comes to enhancing business for myself and for my clients...I DON'T HAVE TIME NOT TO BLOG. Okay, that's really bad grammer but you get my point. Seriously, what could be better for my own business and my clients than me taking the time to blog? When I blog, I increase my google ratings and my internet presence. Everytime someone logs onto my website they see my Featured Properties. If you are my seller, your home is one of my Featured Properties. My blogging is going to make my seller's money! If my seller makes money, so do I. It's a no-brainer.

Do I have more time in the day than the other real estate agents in town? Nope. I just make the most of my day and make sure to include blogging regularly.

As Martha Stewart would say, "It's a good thing." 

When I bought my house, it WAS NOT love at first sight. In fact, I passed it over and continued to look at houses for almost 5 more months before I finally came back and bought it. Did the price go down? Nope. It was 2001...homes were selling like hotcakes! Did the seller do anything to "fix" it up? Nope. In fact, this seller was stuck on his price and unwilling to negotiate.

So why did I buy it, if it was UGLY and OVERPRICED? Because it had three of the most important things in real estate:

1. LOCATION

2. LOCATION

3. LOCATION

You see, I had been targeting the neighborhood (Chestnut Corners in Lake Zurich) as THE ONE for my family for about 8 months. Even though this house was beautiful on the outside, inside it was an early 1990's nightmare. Gray carpet, bleached oak cabinets and laminate countertops. Yuk.

But it also had decent bones, all the space we needed, a finished basement and private yard. Plus sidewalks and streetlights, kids everywhere and good schools. I knew that I could take this house and make it a wonderful home for my family. And, in my own true fashion, I knew I could do it economically.

I've always been one to try to salvage what you have. Why replace perfectly good cabinets if you can refinish them? It's not only good for your wallet, but good for the environment too. To illustrate, I wanted to show you my kitchen renovation.

Here are the photos of my UGLY kitchen prior to renovations (pictures taken while house hunting...not my stuff).

Notice the bleached oak cabinets, southwestern tile backspash, laminate countertops and dated appliances. What can be salvaged here? At first glance, you may say, "just rip out everything and start over!"

NOT SO FAST. First, take a good look at what you have and what can be saved. In this case, I decided to keep the layout (saves a lot of money) and refinish the cabinets. The tile flooring was pretty nice, and keeping this saved us a lot of money as well.

I also decided to remove the desk area in it's entirety. I designed a custom cherry cabinet to look like an armoire with glass doors and a plate rack (I like the look of mixed finishes within a kitchen). The rest of the cabinetry was sanded and painted with several coats of paint. New hinges and hardware were installed. New stainless steel appliances replaced the old dated ones, and granite countertops and a tumbled travertine backsplash finished off the look. The countertop was extended to create a bar stool eating area and more work surface. Here is the finished product:

My husband, Brian, and I did a lot of the work ourselves (it took the better part of the summer of 2004) and saved a lot of money over a total kitchen remodel. It's hard to believe it is the same kitchen. I now have a kitchen that is stylish and unique, and more importantly...I didn't over-renovate for the neighborhood!

So go ahead and buy that UGLY house!

With a little hard work and some imagination...the UGLY ducking can become the SWAN of the neighborhood!

As a REALTOR, part of my job to help you see beyond the ugly when you are shopping for your new home, and also to help you maximize your profits when it comes time to sell. If you are considering purchasing a new home, getting ready to stage your home to sell or contemplating a costly renovation...contact me first! I am here to help!

Last night I had dinner with a friend (who is a real estate paralegal) at the Cheesecake Factory in Schaumburg, Illinois. Yum! Since we took up space for about 2-1/2 hours I thought the least I could do was give them a little plug!

At one point during our conversation my friend mentioned that a guy had come into their office earlier that day with a contract he had signed with one of those flat fee companies. He wanted the attorney to look over the contract to see if there was any way he could get his money back...because he felt totally ripped off by the particular company he had hired to help him sell his home.

Here is the gist of our conversation:

Her: "I had no idea those flat fee companies charged so much money."

Me: "Most don't charge very much, but they don't do very much either, in my opinion."

Her: "Well, this guy said he paid $6,500 up front to the company."

Me: "Wow, I've never heard of such a high flat fee, but I know that the client has to pay the fee whether or not the home sells."

Her: "Well, according to this guy, he paid $6,500. He didn't even get in the MLS, just on their own website. They provided signs and flyers, and helped him price the property because he had no idea what his house was worth. But it didn't sell. He found out later that the price was way too high...no hope of selling...and now he is contemplating legal action to get his money back from that company."

Me: "I know someone who paid an up front fee like that and they felt that the company never did anything to sell their home, so they tried to get out of it and get their money back. The company provided them a copy of the contract which was nearly unreadable, so they hired an attorney and were able to get out of the contract and get their money back. Hopefully he can do the same. You'd be surprised how often I hear stories like this!"

I won't bore you with the rest of our conversation, and I want to go on record here to say that I'm not bashing any particular company. I firmly believe that all sellers have the right to choose the manner in which they sell their homes. BUT, if this guy had hired an agent like myself, he would have ZERO up front fees whatsoever and would only pay commission if, and when, the house actually closed!

I am outraged that there are companies out there that are taking advantage of the unsuspecting public in this manner. I hope he is able to get his money back from this company, but I doubt that he will be able to.

What an expensive lesson to learn. Disturbing, isn't it?

I've overheard so many agents lately saying: Where are the buyers?

As if they were some rare species that only comes out every 17 years (like the cicadas that visited Chicagoland this year ~ it was really noisy, by the way).

Anyway, if the sellers out there can't buy until they sell their current home, doesn't it stand to reason that they are the buyers we are looking for?

It's funny that only a few years ago potential buyers were super confident that they could sell their current home quickly and wrote only non-home sale contingent offers. Now we are stuck with buyers, sellers and yes, even agents, who are convinced that only non-home sale contingent offers are acceptable. This may be contributing to the gridlock we are experiencing in our market.

The bottom line is that we have to do something to get the market moving...could home sale contingencies be one way to get the market moving? After all, once a buyer finds their dream home, they are way more inclined to price their current home to sell...just a thought...

Not that accepting a home sale contingency doesn't come with it own risks and rewards, but that's fodder for a future post, perhaps.

Good or bad, anyone wish to weigh in?

Most real estate agents will tell you, "You need my services to sell your home." Is this recommendation fact or fiction?

I will help you be the judge.

Surprisingly, the answer to "do I need the services of a real estate agent?" is not always "yes."  My goal is to provide you with information so you can make a confident real estate decision...one that will help you successfully sell your home.

You've heard it all before... selling a home is one of the largest financial transactions most people make during their life. It may be cliché, but there is truth to it. Answering the following questions will help you determine if you would benefit from the services of a real estate agent.

Do you have the time, energy and contacts (attorneys, inspectors, appraisers, mortgage lenders, title companies, etc.) to handle all aspects of selling your home?

Can your time be better spent doing other activities and errands rather than being inconvenienced with marketing and showing your home?

Are you available on short notice to show your home? Are you willing to devote your evenings and weekends to showings and open houses?

Do you have the budget, resources and expertise to effectively market and advertise your home for sale?

Are you comfortable dealing with contracts and legal issues? Are you aware of the legal and financial liability that can come with selling a home if you make a mistake?

Do you have access to free legal real estate advice and all of the necessary real estate contracts, legal disclosures and other paperwork?

Do you know what must be disclosed to a homebuyer and what does not need to be disclosed?

Do you know what constitutes a legally binding real estate contract?

Do you have access to the "true" price neighboring homes sold for - excluding buyer closing costs, mortgage discount points, buyer incentives, etc.? Do you know how to use this information to price your home accurately?

Do you know the current market times in your area and how long it might take to sell your home based upon your asking price? 

Do you know how to stage your home and get it ready for showing?

Are you comfortable showing strangers through your home without knowing if they pose a safety risk to you and your family?

Are you able to remain objective and unemotional about your home?

Do you know how to handle a request for closing costs or mortgage discount points?

Do you know how to handle the situation if a buyer has a home to sell before they can close on your home?

Are you able to overcome buyer objections to obtain the highest possible price? 

Do you know how to handle a buyer's appraisal that is below your asking price?

Do you know how to ensure only a licensed home inspector inspects your home, and how to handle buyer requests for repairs?

Do you know how to pre-approve a buyer before showing your home, and how to follow up on the buyer's financing to ensure that they will be approved and close the transaction?

Do you think your results will be better than if you use a competent real estate professional to assist you with your home sale?

If you decide that you want to use the services of a professional REALTOR^®, I am here to help. You've probably seen my signs around town, but did you know that I offer a "Menu of Services" so you can choose the best marketing plan for your budget?

Together, you and I can get your home sold in the shortest amount of time, for the highest sale price and for the least amount of hassle. You can get back to your "regular" life and let me take care of all of the details.

Does this sound good? If so, give me a call.