lake zurich...and beyond

Tomorrow is a milestone day for many parents in Lake Zurich, including me and my husband. Tomorrow the Lake Zurich High School Class of 2008 will graduate.

In 1990, we were blessed with the birth of our first child, a perfect baby boy. Like many first time parents, we were totally unprepared for the changes this event would bring to our lives. We were just excited and happy.

Those first few weeks of sleepless nights and countless feedings had us wishing the days and nights would pass faster so that our little bundle of joy would sleep through the night. Now, we look back at those days and wonder how the time went by so fast. Suddenly, our baby is an 18 year old young man about to embark on his own life's journey. It just doesn't seem possible.

As parents, we commit to memory and cherish all those little moments in time that make up a life. The first tooth, the first word, the first steps. We carefully hold the reins through the years and sometimes gently, sometimes firmly, guide our child throughout his growing years; keeping him on the right path. We nudge him on when he is reluctant to go off to school on that first day of kindergarten. We rein him in when he wants to stay out past curfew. We educate, we mentor, we protect and we love, all the while knowing that someday we must release the reins and allow him to continue on the path on his own.

Truth be told, this year has been a difficult one for me as a mom. I've known this day is coming and both looked forward to it and dreaded it at the same time. Together, my son and I have completed college applications and received acceptance letters. We've had senior pictures taken. We've mailed out graduation announcements. We've argued as I try to hold him close while he pulls away. Some days I feel an incredible sense of accomplishment and other days I feel the sand in the hourglass slipping away. His childhood is officially over.

Tomorrow I will not be showing houses. I will be watching my first born son graduate from high school and filing away in my mind yet another treasured memory of the wonderful boy, now man, that my husband and I have been blessed to share our lives with. My heart is bursting with pride. I'm so excited for him and know that he is ready - more than ready, really - to leave the nest. Yet the tears flow anyway. I'm sure I'll be in good company with the rest of the parents of LZHS graduating seniors as we try not to embarrass ourselves or our kids. I'll bring extra tissues, just in case.

I have been blogging now for over a year and I've had a grand total of 11 featured posts.

That's 11 out of the 165 posts I've written to date. 

You might not think that's very impressive; after all, there are bloggers who write posts that are featured on AR regularly! But do I care? Nope! Here's why: 

Because I've been featured elsewhere, in print and online, offering me even greater visibility than an AR featured post ever could. Don't get me wrong, finding out your post has been featured on AR is flattering, helps you pick up new subscribers and is just, well, fun. It may help you get noticed by outside readers as well. However, it is entirely unnecessary to your success as a blogger. 

Instead of whining about my lack of featured posts, I've been busy writing. Imagine my surprise and delight to find myself getting noticed. Not just by the consumer, although more and more clients are finding me because of my AR blog, but by editors and columnists who want to feature me and my writing. As a result, I've recently been featured in the following trade publications: 

Metro Chicago Real Estate Magazine

RE/MAX Times Online

The Real Estate Professional Magazine 

I've also been informed that I will be featured in the Agent Snapshot in an upcoming edition of Chicago Agent Magazine. 

Interestingly, the post (Will 2008 be the year you wish you'd bought real estate?) that received the most outside attention was NOT featured on AR. In fact, it only garnered an average number of comments. But someone else out there was reading and taking notice!

In addition, I've discovered (thanks to Google Alerts) that some of my posts have been "borrowed" by other agents across the country for their blogs (they all gave me credit). So I'm now reaching audiences in Georgia, Alaska and California, just to name a few!

Allow me to put this in perspective for you. Active Rain has 89,000 + members, which is impressive, but RE/MAX has more than 100,000 associates. Metro Chicago Real Estate Magazine is read by residential broker/owners, top producers, residential real estate offices, homebuilders/developers, Chicago area relocation directors (Fortune 500), mortgage brokers, mortgage bankers, wholesale/correspondent lenders, attorneys, appraisers, technology providers, investors, title, credit and mortgage insurance firms. The Real Estate Professional Magazine has been serving Real Estate's top professionals since 1977. Chicago Agent Magazine serves the entire residential real estate industry of Chicagoland, including top-level real estate executives, brokers, agents, developers, builders and mortgage professionals.

Can anyone say: Referrals? New business? Increased professional reputation? Huge exposure both nationally and locally?

So if you've been whining about your lack of featured posts, quit your whining and just keep writing. Your success is guaranteed.

Hmmm...I wonder if this post will be featured?

Negotiation is a key element of most real estate transactions. It is so commonplace that most buyers and sellers recognize that the list price is merely the seller's starting price and that the actual price paid for the house will be either lower, or in some cases higher, than the list price quoted. What happens in between is negotiation. 

Back when it was a seller's market, it was common for houses to sell at or very near list price. Sometimes, multiple offers would push the purchase price over list price as buyers competed for a particular house. Inventory was low and good houses were hard to come by, so sellers could hold firm and had more negotiating power. You would sometimes see the words, "seller firm" in the MLS remarks which would basically give buyer's agents notice that the seller was more or less unwilling to negotiate off list price. The buyers and their agents could then tailor their offers accordingly to provide the buyer with the best chance to get the house of their dreams. It was a common courtesy. 

Now that it is a buyer's market, houses are typically selling for less than asking price because inventory is high and buyers are in the driver's seat. This has resulted in very low initial offers and, more recently, an unwillingness of buyers to negotiate from their initial offer position. However, this rarely results in the buyers getting the house they made an offer on, not only because low initial offers are insulting to a seller, but because the buyers fail to do their homework prior to writing an offer and have no idea what the fair market value of the house is. They are simply throwing a number out there hoping to get a great "deal" with no thought given to what would be a reasonable amount to pay for the house. 

Buyer's agents need to educate buyers prior to writing an offer, which includes discussing an appropriate negotiation strategy. The buyer's agent should present the buyer with recent comparable sales so that the buyer can be informed. The buyer's agent should then help a buyer prepare to make a reasonable offer on the house. This preparation includes helping a buyer use common sense instead of emotion. The buyer must be willing to either walk away or step up to the plate to get the house they want. The key is having the information at hand to back up the offer. Finally, the buyer's agent must make sure the buyer is realistic about what to expect in this process. 

Buyers are under the impression that they can make ridiculous offers on well-priced homes. It is the buyer's agents job to make sure the buyer doesn't make a ridiculous offer that could cost them the house or, if they are able to get the house, won't cost them more in the long run due to annoying the seller in the beginning. 

If it is the buyer's intention to present a "firm" initial offer, which they have every right to do, then common courtesy should dictate that they clearly state that their offer is "firm" and that they are unwilling to negotiate. A trend of sorts has emerged recently whereby buyers and their agents are presenting ridiculously low offers on well-priced houses with no bearing on reality or recently closed comparables (and by recent, I mean within 2-3 months). The sellers and their agents then take the time to craft a reasonable counteroffer, often coming down from list price $5,000 to $10,000 in an effort to open negotiations and work towards a win-win for both parties. The buyers then simply withdraw their offer without negotiating at all, claiming "they don't think that they will be able to get the house for the price they desire."  

What? How do they know this? Can they read the seller's mind? If they don't take the time to negotiate, how will they ever know if they could have come to an agreement on price and terms with the seller?

It makes me wonder whether buyer's agents are taking the time to inform and prepare their buyers. Perhaps they are just so desperate for a sale that they are willing to write multiple ridiculously low offers for unrealistic buyers. Maybe they don't know how to negotiate.

The only thing I do know for sure is that there are a lot of buyers out there that still don't have a house...and a lot of sellers out there with homes to sell.

Negotiation is a key element of buying and selling real estate. Let's put the "go" back in negotiation and get these deals together!

I must be crazy.

I turn down business sometimes. Here are some examples: 

I discouraged sellers from listing their home right now because they simply can't afford to sell without digging a financial hole they won't soon climb out of.

I turned down a potential listing because it was a 45 minute drive away from my office. 

I asked a buyer to speak with a lender and get pre-approved before we look at houses. 

I advised a couple who were potential renters that it is in their best interest to stay in their current rental for another year, instead of moving into a new larger rental now.

I must be crazy.

I don't like to turn down business. Who does? I try to refer it out if at all possible, but sometimes it's just me doing what I believe to be in the best interest of the potential client.

I mentioned this to another agent the other day and this person basically told me I was crazy.

Yep.

I must be crazy to have standards. I must be crazy to have compassion for others. I must be crazy to believe that profitability is more important than sales volume. I must be crazy to resist the old school ideas and choose to do things differently. I must be crazy to really want what is best for my clients. I must be crazy to want success for my sellers instead of just my sign in their yard. I must be crazy to refer out business that I feel is outside my market area or expertise. I must be crazy to screen clients and only work with those who fit my "best client" criteria.

I must be crazy. Either that or I'm very, very smart. I like to think I'm the latter. Are you crazy, too?

As a real estate marketer, I strive to create a marketing mix that will showcase your home to create the highest perceived value, reach the widest possible audience and generate the largest buyer response.

Traditionally, the 4 P's of marketing are:

PRODUCT

The product is, obviously, your house. The number of bedrooms and bathrooms, lot size, fixtures, amenities, updates, and the location are key components. Additionally, how well your house is staged, how clean it is, and your flexibility in accommodating showings will affect its salability.

PRICE

Together we will go over the recent comparable sales, current active listings and pending sales to arrive at a pricing strategy that takes into account both your needs and the current market conditions. Some additional components of pricing include your flexibility, your timeframe for moving, and the current competition for your house.

PLACE

Since I can't put your house on a shelf in a retail store like a gallon of milk, this means I will figure out where the most likely buyer of your house will come from...and will subsequently target that buyer. In other words, I'll bring the market to your doorstep!

PROMOTION

This is the exact combination of advertising and marketing that I will use to promote your home. My marketing strategy includes promoting your home to other agents as well as directly to buyers through a combination including, but not limited to, postcards, flyers, signage, broker open houses, the multiple listing service, as well as an explosive internet marketing program.

So, what is the 5^th P of marketing? In today's market, I think the 5^th P should be...

PERSEVERANCE

With increased inventory and tighter lending practices, even the best priced, best prepared and best marketed homes are taking longer to sell than in the boom years. Our offices report that the average number of showings for all listings was 2.5 per month for the month of April. Last year, the average number of showings per month was slightly higher, at 3.1 per month. Back in 2006 it was 4.9. It used to take about 8 to10 showings to generate an offer. Simply put, generating an offer was accomplished in less time when showings were more frequent. Prior to 2006, homes were selling in 30-60 days on average. With average marketing times in the Lake Zurich area for detached single family homes now hovering around 214 days, and attached single family homes at around 150 days, perseverance is a must!

The real estate marketing process is like putting together a puzzle...without all of the pieces it's just a waste of time. My 24/7 marketing plan puts all the pieces together for a winning combination of marketing and advertising designed to position your home for success. Call me today!

Nearly everyone I know (in every industry) has made a few nips and tucks to their personal budget this year. Amid fears of layoffs, the stock market, rising gas prices...and of course the housing market...many have decided to curtail a few luxuries for a healthier bottom line.

Maybe it's that morning Starbucks run. Or perhaps you've taken to mowing your own lawn. I know some people who are eating out less and brown bagging more. It's generally the little luxuries that go first, although sometimes more drastic cuts are taken. One friend of mine has gotten a second job. A past client traded in her SUV for a Honda Civic, because the gas prices were killing her. I've started cleaning my own house again and my husband is going to install a new sliding glass door himself instead of hiring the pros to do it. We also sold a motorcycle and laser printer that were no longer being used.

These little changes can add up to a whole lot of extra cash. For me, simply cleaning my own house will save me about $2000 per year...which is going to really help pay that University of Illinois college tuition in the Fall. Okay, it's a drop in the bucket (have you seen how much college tuition is these days?) but hey, every little bit helps!

For my first time buyer clients who are looking to purchase a house sometime in the next year, making small changes to the way you live today can make a big difference in your financial situation when the time comes to purchase. Do you really need that grande mocha frappacino or would a plain old cup of joe get you through the day? Can you get your nails done once a month instead of every other week? Is it possible to get by with only basic cable (gasp!)?

Has your personal budget undergone a little financial surgery this year? Care to share your best tips for saving a few bucks?

Buying a house can be very scary. It's a big purchase. Most buyers will, rightfully so, ask the opinions of friends, family or colleagues. This can be extremely helpful and help point you in the right direction.

However, just because someone else loves an area or a house, doesn't mean you will. I've seen many buyers make the mistake of relying too heavily on the opinions of others and neglecting that little voice in their heads asking them..."but is it right for me?"

Listen to your inner voice!

My husband, Brian, and I moved to Massachusetts from Michigan when we were newly married. We loved it. Massachuetts is beautiful and we made many friends (young transplants just like us). My son was born in Massachusetts, and soon thereafter the pressure began. "Move back home" begged the in-laws, "we want to be near the baby." So, of course, we eventually caved to the pressure and packed up and moved back to Michigan. Brian found a job and we built a house in Chelsea, Michigan. But not long after moving into our newly built home, the company my husband worked for decided to close down their operations in Ann Arbor. Thus began a pattern of companies closing their doors or spinning off segments of the business, forcing us to relocate. You see, moving back to Michigan just wasn't the right move for us, after all. Maybe if we'd been a little older or a little more confident, we would have taken more time to decide what was right for us, instead of relying so heavily on the opinions of others (and what would make them happy).

SO...

If you are a country person at heart, don't move to the city because it's what all your friends are doing.

If you are a retiree, but hate hot humid weather, rethink the popular convention of buying your second home in Florida. 

Resist that urge to buy a move up home that will stretch your budget to the max just to keep up with the Joneses.

First timers: Your Mom and Dad like the ranch on one acre but you like the two story near the park? Pick the park!

Trust me when I say that you need to know what YOUR criteria is, what makes YOU happy and what fits YOUR budget and should choose where and what type of housing to buy accordingly. Who is going to live there? YOU are!

As your real estate agent, I will help YOU find YOUR perfect place. My opinions are optional ~ feel free to form your own!

Did you know that dandelions are edible? They must be pretty tasty too, since Zoey the Wonder Puppy consumes several on a daily basis!

When she thinks I am not paying attention, she will zoom in and decapitate the unsuspecting blooms without even pausing to slow down. She just loves them.

Of course, being the careful puppy owner that I am, I thought I'd better look it up to make sure they wouldn't make her sick. Imagine my surprise to see several recipes for dandelions! And to think we've spent years trying to eradicate the darn weeds (um, plants) from our lawn.

Who knew that we could've been enjoying fried dandelion blooms, added the leaves to our salads, and even made dandelion tea. See the recipes and read more about the benefits of eating dandelions here. Not sure if I will partake in the feast, but at least Zoey won't be harmed by eating them.

By the way, if you are the type that sprays or spreads countless amounts of chemicals on your lawn each season, maybe now is the time to switch to safer kid and pet friendly organic fertilizers. Go green and make the world little healthier this year. That way, when Zoey and I walk around the block, she can snack on your dandelions, too!

Yes, I have to confess, I'm getting F-A-T.

Frustrated, Anxious and Tired!

Frustrated, because the market is rapidly changing and what was a good price yesterday is no longer a good price today. Frustrated because buyers are sitting on the fence instead of making offers. Frustrated because gas prices are soaring and, well, part of my job involves driving all over town.

Anxious, because I'm the kind of person who truly wants what is best for my clients, and when they are anxious, so am I. And this market is causing my buyers and sellers to feel very anxious indeed. I feel their pain. Literally.

Tired, because it is my nature to be a very positive person and I've been maintaining my positive outlook since the market started it's turn for the worse back in 2006. I believe we have two choices, to be positive or to be negative. It's harder to remain positive (takes more energy) but that is just the way I am, even though it can be tiring at times.

Are you F-A-T? I think it's okay if you are. I'm sure many buyers and sellers are F-A-T too. We are human, after all. But being F-A-T does not mean we give up or pull the covers over our heads and go back to bed. It means that we need to come together and brainstorm. We need to support and encourage one another. We need to trust in our skills and keep working hard to reach our goals and to help our clients reach theirs.

Before you know it, the energy and ideas will start flowing again, the economy will improve, the market will slowly start to turn around, and we will no longer be F-A-T, we will be P-H-A-T.

Profitable, Happy, Appreciative and Thrilled!

Profitable, because the market will recover and not only will our buyers and sellers see home appreciation again, but our increased skills and marketing abilities (not to mention our budgeting abilities) will help increase our profitability as well.

Happy, because we will be busy and productive, instead of just busy. Happy because our clients will be more relaxed and less anxious. Happy, because we will all have less pain and more gain for our efforts.

Appreciative, because we will all recognize the lessons this market has taught us. What goes up, must come down. We won't let history repeat itself.

Thrilled, because we will have made it through a very tough time, not just in the housing market, but in the economy as a whole. Thrilled, because we triumphed over lost income, uncertainty and despair. Thrilled because we came out the other side as better people and better agents.

I'm looking forward to being P-H-A-T, aren't you?

phat -adjective

Slang. great; wonderful; terrific.

I've always been a walker. Not only is it great exercise, but it's fun, helps me clear my mind, and is good for the environment as well!

My current house is located in the suburbs, so most of my walking is through the nearby neighborhoods (with Zoey at my side these days!). But if I want to walk a little farther (up to two miles there, two miles back), I can walk to a Starbucks, the Ela Public Library, Walmart and several other establishments. I love having the ability to get somewhere without using my car, don't you?

As gas prices soar, many people just like me are exploring alternate ways to get where they want to go, whether that be by walking or riding a bike. They may even decide which house to buy or rent based on the "walkability factor" of that property. Businesses themselves (coffee shops are a perfect example) would be very smart to locate their establishments within easy walking distance of where people live to increase foot traffic.

Recently, I came across a site that allows people to determine the "walk score" of any address. You simply put in the address and it lists the nearby businesses and other sights that are within walking distance. You can access the site and try it out for yourself here.

Real estate agents can type in the address of a property you have listed and get code for a real estate tile that you can use to help promote your listing. How cool is that? To illustrate, I entered in the address of my office, RE/MAX Unlimited Northwest, and this is a sample of the real estate tile that was produced. I was having trouble with the html so this is a picture just to give you an idea. The actual tile allows you to scroll through the establishments (ie. see other grocery stores or restaurants) by clicking on the arrows, which then highlights the business on the map. Or you can click on the map and highlight the corresponding business. I just love it!

I've already decided that I want my next home to be within walking distance of most everything I need on a daily basis. This site will help me find just what I am looking for! Try it today!

Many articles have been written about who is to blame for the housing mess that we are experiencing. The media is constantly discussing this topic as well. While insightful and probably even truthful, how does blaming help anyone?

One of my favorite books is "When Bad Things Happen to Good People" by Rabbi Harold Kushner. I first read this book when I was in high school. One of my very good friends was in the hospital dying of cancer at age 16. It was a book that helped me cope with her eventual death and like many things, simply manifested itself (even though I am not Jewish) in my life at a time when it was so desperately needed.

The lessons in this book can be applied to many circumstances in life, not just the death of a loved one, since all people must deal with the bad things that happen in our lives at one time or another. Throughout my life, I have turned to that book many times because it gives me comfort when it would be so easy to feel sorry for myself or get stuck in that place of "life is so unfair." For many who are dealing with foreclosure, bankruptcy and loss of income, the downturn in the housing market has been totally devastating. Lives have been turned upside down. A very bad thing, indeed.

In "When Bad Things Happen to Good People" Rabbi Kushner explains that it is human nature to try to make sense of all that happens. When something bad happens, we ask "was someone negligent? whose fault was it?" as if blaming someone will change what happened in the first place. Instead, Rabbi Kushner states,

"We too need to get over the questions that focus on the past and on the pain  - "why did this happen to me?" - and ask instead the question which will open doors to the future:

 "Now that this has happened, what shall I do about it?"

My reason for writing this post is simply to get you thinking. Searching for answers and pointing fingers may make us feel better in the short term. It may even help us figure out what went wrong so that we can avoid making the same mistakes in the future. But it won't change what has already happened. Blaming keeps us in the past and we need to focus on the future. What can be done now that this mess has been created?

I don't know the answers. I wish I did. Many ideas and bail out plans have been presented and discussed, even hotly debated. Perhaps there isn't anything that anyone can do except let the market shake itself out and eventually the laws of supply and demand will balance out again. As human beings, we learn from our mistakes. Big mistakes have been made and those big mistakes have created big problems. I hope that as a nation we stop playing the blame game and shift our focus and energy instead towards finding a solution, if one exists, and to putting in place regulations that will ensure that this "bad thing" won't happen ever again.

I'm good at folding towels. Does that make me a good real estate agent?

I'm good at smiling. Does that make me a good real estate agent?

I'm good at blow drying my hair. Does that make me a good real estate agent?

I'm good at making potato corn chowder. Does that make me a good real estate agent?

I'm good at blogging. Does that make me a good real estate agent?

OF COURSE NOT!

I'm not a good real estate agent because I blog. I blog because I am a good real estate agent.

In my opinion, the best in any profession strives to use all the tricks and tools at his or her disposal to better themselves and their profession.

You see, I was a real estate agent, and a darn good one, long before I started blogging. It was my desire to become even better at what I do that inspired me to set up my blog and begin writing.

I wanted to improve my search engine optimization. And I did.

I wanted to gather ideas from some of the best real estate agents in the country. And I did.

I wanted to learn new marketing strategies to help my listings sell faster and for more money. And I did.

I wanted to share my own best ideas, tips and strategies with other agents, buyers and sellers. And I did.

There are plenty of bloggers that are excellent writers. Most of them are, I'm sure, excellent real estate agents as well. But it is not the blogging that makes the agent. It's the agent that makes the blogging.