lake zurich...and beyond

So many people over the last few months have come up to me with their sad puppy dog eyes and their comments like this one: 

"I've been reading about how bad the market is this year...how are you?"

that I decided to do a little research to gain some perspective on the market as it compares to last year. This is not meant to be an in-depth analysis, just a presentation of facts gathered from MLS data of my main market area (which is comprised of Lake Zurich, Hawthorn Woods, Long Grove and Kildeer in Illinois) compiled on 11/28/07.

While we are definitely lagging behind 2006 by 75 total homes sold, the year is not over, and we have 39 pending sales as of right now. If those do, in fact, close by the end of the year, we would only lag behind 2006 by 36 homes.

The average sale price has decreased from last year for detached single family homes in the amount of $13,301, or just over 2%.

For attached single family homes we have actually seen an increase in the average sale price in the amount of $20,414.

Our market is definitely experiencing a correction, there's no doubt about it, but there's no need to look at me with sad puppy dog eyes. I'm doing just fine...and you will too. Instead of reading (and trusting) every negative newspaper article or housing report on television, call me. All real estate is local...and all that really matters is what is happening to the the value of your home...in our market. I'll gladly provide you with up-to-date, accurate market statistics or a complimentary comparative market analysis of your home.

Dear 2008,

We are coming for you, more determined than ever. Your bully of a younger older brother, 2007, caused quite a commotion over the past several months. Indeed, many have suffered due to his downward pressure on home prices, fluctuating interest rates, high inventory, lengthy market times and buyer indecisiveness. Oh, and let's not forget that whole sub prime mess.

It hasn't been easy, that's for sure. There have been casualties. We've seen agents leave the business, sellers struggle with potential foreclosure, buyers unable to get a loan. 2007 fought a good fight to be sure, but he simply didn't factor in our overall strength, perseverance, work ethic or our absolute desire to adapt to whatever he could throw at us and succeed. Indeed, 2007 may have won a few battles along the way, but we will win the war.

So, 2008, we are warning you, here and now, that you better watch out. Just in case you haven't noticed, agents have been learning and implementing new things...and we are stronger than ever. Buyers and sellers have been learning as well; buyers have been cleaning up their credit and saving larger down payments, and sellers have been pricing and preparing their homes appropriately.

And lest you forget, we also have the support of a veritable ARMY of lenders, attorneys, brokers and other service professionals behind us. They're all in fighting form and ready to take you on as well.

So bring it on, 2008. We can take it.

Sincerely,

I had out-of-town guests for the Thanksgiving holiday and therefore over the past few days I've been doing only what is "essential" as it relates to real estate so that I could spend time with my family. I've been monitoring showings on my listings, processing feedback requests, accepting & responding to website leads, checking the MLS for new listings and price reductions, and making sure the attorney and lender have all the information they need for my new sale. (It's amazing what you do when you're "not working" isn't it?)

My guests have now left for home, the Christmas decorations are up, and I finally found a few minutes this morning to log onto Active Rain to catch up between loads of laundry. Several hours later, I'm still here.

My husband walked by, noticed I was on AR and said: "What's new in the real estate world?"

He knows that Active Rain is the first place I go to find information about all things real estate related, to be updated on market conditions in other areas of the country, be entertained, and most importantly, to learn from the best real estate agents, mortgage professionals, rental agents, title companies and even stagers all around the country. If it is related to this industry, there is someone here writing about it. I learn something new every day. Hopefully someone out there is learning from the 90 articles I've written as well.

I almost feel sorry for agents that have not embraced Active Rain. You see, the advantage I have in my market is totally unfair! When I assist a buyer or seller I have behind me the combined knowledge and support of 59,039 Active Rain members. When I post a listing on Active Rain it's exposed to 59,039 Active Rain members, as well as hundreds or even thousands of readers who aren't even members. When I need a new idea to better serve my buyers and/or sellers, I can turn to 59,039 Active Rain members for inspiration. When I want to know "What's new in the real estate world?" I can find out easily because I have connections...to 59,039 Active Rain members all over the country. All of this is a tremendous benefit to buyers and sellers in Lake Zurich and the Northwest Suburbs of Illinois. How many agents can say that? Only 59,039. And I'm one of them. Other agents just can't compete.

All eyes in Lake Zurich were glued to the television last night as the Lake Zurich High School football team captured it's first title, beating Wheaton Warrenville South 7-3. This has been a phenomenal year for the Lake Zurich Bears...and the community couldn't be more proud of their efforts.

Of course, what really struck me while watching the game last night was the incredible sportsmanship exhibited by these young men. This was truly their time to shine, not just as football players, but as individuals as well. I was impressed, as we all should be. I'm sure some of the credit can go to their coach, Bryan Stortz, who has kept these young men focused on getting prepared and building a foundation for success. True lessons they will benefit from their entire lives. But congratulations should go to their parents, teachers and indeed our fine community as well...Lake Zurich is a wonderful place to live and raise a family!

Kudos to all for a job well done. Enjoy and savor this moment. You earned it.

Free MySpace Animations!

I was contacted recently by Adam Bartos, of BiO Tile and Grout Restoration. Adam had stumbled across my Lake Zurich Real Estate Blog and called me to talk about how his services could be useful to my customers.

We chatted for a while and I explained to him that I don't recommend any services that I have not previously had personal experience with or don't come highly recommended by people that I trust. Adam completely understood and told me that he offers all of his clients a free demonstration of his services so they can see the process and results before making a decision. So we set up a time for Adam to come to my house for my free demonstration.

Quite simply, I was impressed.

I watched while Adam cleaned my laundry room floor and my tile and grout were absolutely much cleaner after the service. Better yet, I didn't have to haul out the scrub brush and spend hours on my hands and knees to get it that way. I was also extremely impressed with Adam himself.

Real estate agents often work for free. We must sell the house before we get paid. We provide free CMAs for our clients. We spend hours showing homes to potential buyers who may never buy anything. But it isn't often that I run across another service professional that works for free...putting his time and effort into showing how he works before asking you to buy his services. I like that.

BiO Tile & Grout Restoration is a family owned, fully insured company serving Northern Illinois: the Lake, Cook and McHenry County. In their words:

 "We strive to make our customers 100% satisfied by providing professional, affordable and high quality service. Our service today is our reputation tomorrow."

This is one company that is being added to my Professional Service Providers list! If you are interested in having your tile cleaned for your home or business, please contact Adam at: (847)438-0212 or (773)575-5515 or visit the BiO Tile and Grout Restoration Website at: www.restoreyourtiles.com.

Sellers are stressed out. Buyers are stressed out too. Part of my job as an agent is to do everything in my power to provide an experience that is as stress-free as possible. In today's market, that's not easy. Both buyers and sellers are worried about what the media is reporting, they're worried about whether financing will be secured, they're worried that this is not the "right" time to buy or sell...they're just plain worried. And worry causes uneasiness, anxiety and stress.

To help alleviate buyer and seller stress, I pledge to give my clients the facts. The whole truth and nothing but the truth. Like how long it might take to sell their home. Or how many showings they can expect in a given period of time. I will make certain they have an excellent mortgage professional to guide them. I will provide them with as many facts, graphs, charts, reports and analyses as they need to feel secure. I will listen carefully to their needs and communicate with them when, where and how they want me to.

I will quite simply handle every detail of their transaction...and if that includes holding their hand then you can bet I'll be right there beside them.

But, sometimes, all they really need is to kick back and have a little fun. This week I gave my clients the ability to forget about real estate for one whole night! A little escape into the make-believe world of the movies.

On Wednesday, I made up some stress relief kits for my buyers and sellers. Each kit contained a Blockbuster gift card, a package of microwave popcorn, assorted candy (chocolate of course, the ultimate in stress relief) and this little note:

If you are a buyer or seller and you want a real estate transaction that is as stress-free as possible, give me a call!

I'm here to help.

Buying a home can be a piece of cake.

Here is MY recipe for success:

 

 

STEP 1: We'll preheat the oven

(We'll get you pre-approved at the best rate and terms so that you become a more reliable buyer in the eyes of the seller, which can allow greater negotiating power)

STEP 2: We will carefully go over the recipe to make sure we have all of the ingredients we need before we get started baking

(I will evaluate your needs and wants and help you locate homes that fit your specifications as to price and location. This includes homes that are both listed in the MLS and unlisted, such as new construction and for sale by owner properties)

STEP 3: It's important that we crack each egg in a separate bowl to make sure it is good before adding it to the mix

(I'll prepare a Comparative Market Analysis of the selected home before we write an offer so you can make an informed decision and to make sure that you don't overpay)

STEP 4: We'll carefully blend the ingredients together

(I will help you structure an appropriate offer to purchase the selected home based on the best possible price and terms. I will present the offer on your behalf and negotiate a win-win for all parties)

STEP 5: Blending carefully (see STEP 4) will create a beautiful smooth batter

(Congratulations! Both parties are happy and we have a signed contract!)

STEP 6: The batter will be placed into pans and into the oven

(I will include a provision in the sales contract giving you the right to have a thorough home inspection and allowing your attorney to review the contract, making sure your best interests are protected at all times. I will also work closely with your lender to assist you in securing financing)

STEP 7: We will frost the cake

(appraisal, financing, insurance, final walk-through)

STEP 8: Finally, we will grab a cup of coffee and enjoy the fruits of our labor...a satisfying piece of cake

(We will attend the closing, where you sign all the documents and get the keys to your new home!)

The recipe for success when buying real estate always begins with choosing a professional real estate agent who will protect your best interests. As your trusted advisor, I will be there with you every step of the way.

If you'd like more detailed information about the buying process, please read: Buyers: You've signed a contract to buy a home...what happens next?

As you know, we've seen many changes in the Lake Zurich area real estate market over the past two years.

For the most part, these are welcome changes for buyers...and unwelcome changes for sellers. This period of correction, with higher inventories putting downward pressure on prices, has certainly been getting its fair share of media attention. In Northern Illinois, the average days on the market has increased, and in some areas (though not all) prices have dropped. How will this affect you?

If you are considering selling, it is more important than ever to make certain that your home stands out in the crowd. That means extra attention needs to be paid to condition, staging, pricing and marketing. As an Accredited Staging Professional REALTOR^® I will make sure your home is priced and marketed correctly, and that it looks great too.

If you are considering buying, you certainly have many homes to choose from. However, a loan you may have qualified for just a few months ago may be unavailable today, or you may no longer qualify at all as lenders continue to "tighten their belts." When purchasing, my strong negotiating skills will help you get the best possible price for your new home, but getting your financial situation in tip-top shape is imperative before we start looking.

Many experts are predicting that our current market conditions are here to stay...at least through 2008...and probably longer.

I want you to know that I'm ready to help you, your friends, neighbors, relatives and co-workers navigate through this current market (and please keep those referrals coming ~ I appreciate each and every one!).

You can count on me to be by your side every step of the way.

I'm not talking about the "put up your dukes" type of toughness. I'm talking about mental toughness.

"Mental toughness is to see the long term gains rather than be put off by short term pains. Once you have this toughness, you have the winning edge."

To be mentally tough you must have these attributes:

• You cope with the ups and downs better than your "opponents"
• You're more consistent, focused, and resilient
• You have an unshakable belief in what you are doing
• You have an insatiable desire and motivation to succeed
• You bounce back from setbacks with renewed determination
• If plan A doesn't work, you move on to plan B or plan C
• You look at failure as a stepping stone for future achievement

I don't know about you, but I'm mentally tough. I've worked way too hard building my real estate business to end up in a job that requires a paper hat. I'll be around for the long haul.

Of course, this idea doesn't just apply to real estate professionals. It applies to everyone: athletes, students, the stay-at-home mom, the laid off engineer. We all have challenges to overcome. When you read the list of attributes above, do you see yourself? Or do you see your competitor? How tough are you? Anyone want to weigh in?