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Insider North Shore Chicago Real Estate Tips From The Experts
How To Sell (or Buy) Your House In A Declining Market

Drive through any neighborhood on the north shore and its unavoidable… the for sale, for rent, sale by owner signs are as visible as the day lilies.
Open any paper and the news drops bombs reports the slowest market in recent history with the average turnover time for a sale expected to increase from 103 days a year ago to 195 days to find a buyer in today’s real estate real time.

It is what it is, so to help you get the fast track on what to do and become smarter than the average home body we met with several real estate experts on the North Shore, the first being Debra Kruger of Coldwell Banker in Winnetka.

NorthShoreInsider.com probed Debra’s wealth of housing buying and selling know how… with a focus on how to sell your house during this declining sales cycle and market.

1. Don’t Be A FSBO

In case you’re like me and had no clue what the acronym FSBO stood – its For Sale By Owner and it’s not a good thing in today’s market. Reason being you don’t want to mess around (or spend your time) marketing your property. Trust Debra… you’ll have plenty of other things to do in the process of selling so hand over the heavy lifting to a qualified, full time, experienced, savvy real estate agent.

2. Make Them Fall In Love With Your Abode & Price It Right!

Buyers in this market want it all and they want the house they buy to be “move in ready”. In other words, they don’t want to any of the work themselves – which translates to – you do the work for them. Get rid of anything that is in any way going to be perceived as a problem, eye sore or truly less than appealing. Buyers are picky, picky, picky and will survey your territory instantly and then make an immediate take it or leave it decision. With so many houses on the market your property needs to look better and be priced better too. Better to invest the time and money upfront to wow them than to start showing and have walkthroughs that are destined to disappoint. If you’re dead serious about selling, bite the bullet and price your home 10% less (for starters) below what everyone else in the neighborhood is selling for.

3. Where is the Value In Today’s Residential Real Estate?

So, whether your selling or if you’re buying its critical to understand what holds its value so if you’re selling you promote it… and if you’re buying you’re honing in on properties that hit these targets. Of course the adage, location, location, location never losing its luster but more specifically Debra pointed out that homes within walking distance to town and train are most desirable given the price of gas and opportunities to enjoy local social happenings in towns. Also, no surprise... lake front property is still considered the crème de la crème as far as North Shore real estate goes with buyers clamoring and practically begging to buy. Properties that fall into these areas are more likely to sell, and more likely to hold their value so be choosy and if you’ve got it flaunt it.

To contact Debra Kruger
Call 847-302-0550

Next week, NorthSHoreInsider.com get the scoop on the short sale, rental and foreclosure market with Amy Kite of Keller Williams

Loren Greiff

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