My New Blog

I've gotten a lot of calls recently from those who are interested in listing their homes during the "hot" spring market.  Fresh new listings are great, but what about the ones that have been on the market for two years or MORE (totally customary these days...)?  Those homeowners PRICE SLASH. 

There are TONS of foreclosures out there to compete with.  No one is going to pay 30, 40, 50, 100% more for your house just because it has all of its appliances and window treatments.  Buyers will probably want to change them out anyway.  Even if your home is exquisite and you've lovingly maintained it.  And let's talk about EXQUISITE homes, shall we?  Here are 5 celebrities who have cut their asking price on their pads....some by more than half!

1)  Suzanne Somers' Mountainside Estate 

     Palm Springs, Calif.                                  

     Original Asking Price: $35 million
     Current Asking Price: $12.9 million

2)  Mel Gibson's Tudor Mansion
     Greenwich, Conn.

      Original Asking Price: $39.5 million
      Current Asking Price: $29.5 million

3)  50 Cent's Mega-Mansion
     Farmington, Conn.

      Original Asking Price: $18.5 million
      Current Asking Price: $10.9 million

4)  Brian Bosworth's Waterfront Villa
     Malibu, Calif.

      Original Asking Price: $11.9 million
      Current Asking Price: $6.9 million

5)  Nicolas Cage's English Country Manor
     Middletown, R.I.

      Original Asking Price: $15.9 million
      Current Asking Price: $12 million

So the next time you feel like your home is the only one on the market that JUST WON'T SELL, flip through this article from HGTV's frontdoor.com, and know that you're NOT ALONE!

http://www.frontdoor.com/Buy/Celebrity-Price-Choppers/55545/p1

Orchard's subsidiary, Off Campus Condos 101, has been hard at work finding  student housing opportunities!  Some are in short sale or foreclosure status and require time (up to a year or more) for banks to approve your offer so if you or someone you know has kids heading to the city for college next year, NOW is the perfect time to start looking for those great deals!

For those headed to the Northside (Loyola University), I have found nearly 100 studio, 1 and 2 bedroom condo units WITHIN walking distance to campus!  Some have panoramic views of Lake Michigan and/or private beaches, some are huge floorplans that could use some fixing up, some are smaller but totally rehabbed with stainless steel appliances and granite countertops, some have in unit washer/dryer or at least coin laundry in the building, some have parking spots, some rooftop pools and workout rooms, some are in high rises, some are in 3 flats with pretty courtyards, ALL are under $100K.  Some as low as $35K. 

If you take into account that the average housing bill for a dorm room in a college or university is around $7000 annually (read:  nearly $30,000) for a 9 month stay, it just makes more sense to pick up one of these options and gain equity with the potential to sell it after the college years and get that money back!  Feel free to surf the MLS tab on this site to look for options, see photos, get tax info and more.

Contact me to go on showings, get more info and ask any questions regarding a student housing purchase.

Also, call me for info on units available near DePaul, University of Chicago, Northwestern, UIC and Northeastern.  I can find links to units and send them directly to you for review.

A couple of days ago I happened to catch FLN's show, "15 Bodacious Backyards".  This caught my eye because unlike all of the other do-it-yourself curb appeal and landscape shows, this one was like, "WOW!".  I mean, it was offered up by the Fine Living Network!  These backyards cost in excess on $100,000.  Yeah, they were mostly in California or Florida or someplace scenic like that, but there was one here in Chicagoland (I assume on the Fox River) that had multi tiered decks overlooking the river complete with waterfalls and light shows.  So if you want some inspiration to do your version of a Bodacious Backyard (Spring and Summer are on the way...) follow this link to get a list of when this one will be broadcast again:

http://www.fineliving.com/fine/our_specials/episode/0,1663,FINE_5916_63659,00.html

Whether you're after a mini replica of your favorite major league baseball field, backyard oasis or mini golf course, you'll be hooked to indulge in this scene.  Even if it is only for fun!!!

Today's focus is for those getting ready to sell in the Spring (or anytime, really).  One of my favorite sites, FrontDoor.com offers up 10 questions a seller should ask while interviewing a potential agent. 

http://www.frontdoor.com/Sell/How-to-Choose-a-Great-Listing-Agent/2566

Be prepared before you call in an agent.  A good agent will appreciate that you have a little know-how and will offer up any information right at the interview.  It will work in your favor if you have someone who is honest, direct, is techno-savvy, has marketing plans in place and THOUROUGHLY understands the market conditions in your area. 

If you have any questions you'd like to ask me, or if you thought this link was helpful, I'd love to hear from you!

Gina

Let's talk about improving your home.  Many don't really bother unless we are getting ready to sell.  You want your home to look good for the potential buyer, right?  Right.

I watch many shows on HGTV or wherever talking about what kind of return home improvements render on your sale.  An updated kitchen warrants 'x' amount of dollars and a new bath:  'x'!  While that was true a few years ago, the current housing market in our area doesn't yield much of a return at all.  It seems the new question of the day is, "I know I'm going to lose right now, but how much?"

So....should you improve?  The answer is:  if you can, yes.  Not a total renovation and don't sink a lot of money into it (especially if your sale will be a distressed one).  But with so many homes to choose from out there, yours should get picked if it is priced right and LOOKS great!  Check out your competition, and instead of saying, "Yeah, but my kitchen is 3 feet wider" or "my hall bath has DUAL vanities", make sure it has the best appeal for the potential buyer.  Like it or not.....most buyers are driven by the eye candy.  Check home decor magazines for inspiration, go to open houses to get ideas or just ask me--I can help! 

Get ready for that spring market or just jazz up the place for your own ambience!  Happy Decorating!