FSBO Jane

This article at Zillow told the truth about agent-planned open houses.

Did you know?

“The actual purpose of a Realtor open house is to placate an antsy seller with an illusion of activity actually devised to attract buyers. If your house happens to sell, so much the better, but the goal is to sell something, somewhere, to those buyers.”

Wondering whether to list your home for sale over the holiday season?

Contrary to popular belief, selling your home over the holidays is not an impossible feat. In fact, you might encounter a fast sale as the serious, must-move buyers peruse a much smaller market compared to the spring and summer months. While countless homes are taken off of the market in November and December, the pool of listings narrows tremendously, making serious buyers more likely to see your home. Many people are forced to move in the winter because of a job or personal issues. Taking advantage of a seasonally narrow market, and seasonally serious buyers, can make the holiday season a favorable time to sell your home.

The holiday time is also ideal for creative home staging. Blogger J. Lenox Scott notes, “You can decorate it and have it smelling with all the delights of the season. There can be a fire in the fireplace and something good cooking in the oven. Homes look great when they’re decked out for Christmas.”

Lots of people take vacation time in November and December, and while some are wrapped up in holiday obligations, others are using the time to plan for the coming year. While this is a relatively smaller niche, it is a niche that is sifting through a much less competitive market than in the spring or summer.

The Real Estate Webmasters suggest using holiday decorations to “emphasize amenities such as a large fireplace or bay window…a wreath at the door, or a bow on the mailbox, and sparkling lights add a note of cheer which increases activity during this time.”

The market will always be affected by festivity, but you can still take advantage of holiday buyers by keeping your home on the market!

Here’s another article that suggests the market might not be all bad.

In fact, for certain price ranges, it’s very good.

According to this article, things aren’t always what they seem:

“In some ways, the extended real estate boom from 2001 to 2005 created unrealistic expectations that housing is a short-term high-yield investment,” said NAR Chief Economist Lawrence Yun. “2007 will be the fifth best year for housing on record. Places like Houston, the Kansas City area, Indianapolis, and the vast middle section of the United States offer affordable prices and continued job growth. On either coast, Seattle and Raleigh, N.C., remain solid. And markets that experienced recent growth declines - like Boston, Denver, and Washington, D.C. - have already shown signs of recovery. In short, all real estate is local - conditions vary greatly from one city to the next.”

I don’t know how I missed this, but apparently my favorite FSBO company has started a blog: Buy Owner blog.

Looks like it’s been around for a few months, and I spent some time this morning going through its archives. Talk about some great info!

Don’t miss these:
Multiple Offers: A Good Problem to Have
Cost-Efficient Ways to Add Value
Selling in a Buyers’ Market

Even in today’s shrinking market, there is still room for growth in many up-and-coming communities. An aggressive new marketing campaign is bringing Chicagoans out to Berwyn, IL, a bedroom community that has been a less-than-likely commuter choice in the past. While Berwyn has traditionally been a nesting ground for working-class, blue-collar families, the community has been opening its doors to a younger, more diverse population, attracting nearby urban dwellers of Chicago and the inner-ring suburbs.

The Bungalow

Berwyn is best known for its traditional, 20^th century bungalow homes, and has the most Chicago-style bungalows in the nation. These bungalows are one-story homes with an attic and a basement, with two to three bedrooms, a living and a dining room. Detailed wood and tile work, as well as classic stained glass, is found in most of these restored bungalows. According to whyberwyn.com:

“These bungalows, built between the 1920’s through the 1940’s, range in style from smaller one or one-and-a-half story units to the larger, “super” bungalows, with two full stories, glazed brick exteriors and tile roofs — some in flashy colors like blue, blue-green or multicolor…A stroll through the historic neighborhoods will also reveal stately Victorian, English Tudor, and Prairie School architecture.”

Growth, Yesterday and Today

A generation ago, Berwyn was the fastest growing city in the United States. Berwyn also boasts its own financial corridor, once known as “The Bohemian Wall Street,” for the many Bohemian and Czech immigrants who made their fortunes in Berwyn in the beginning of the 20^th century. With its proximity to Chicago and hardworking, immigrant roots, business is thriving in and around the town of Berwyn.

Room for Growth in a Shrinking Market

According to this article, a member of the Berwyn Development Corporation said the campaign stemmed from “a number of city residents and government officials [who] have long believed Berwyn was an underrated city in relation to other towns with high profiles surrounding Chicago. Mendola, who moved to Berwyn from the city’s North Side a couple of years ago to take advantage of the attractively priced homes, said the average price of a three-bedroom bungalow is now about $300,000, and property values have been rising.”

Lots of young people are moving out from the city, with a thriving art and music scene and a lively community feel. As city conveniences are more frequently being offered in suburbs such as Berwyn, these communities can be a worthy investment, full of historical homes and a progressive attitude.

*Photo courtesy of houseblogs.net.

1. I have control.

2. I choose the package.

3. I can monitor views/matches for my home.

4. My property appears on Buy Owner’s high-traffic Website.

5. I get professional photographs.

6. The writers create quality descriptions.

7. Buyers call me directly.

8. Referrals for mortgages, titles, attorneys.

9. Nationwide marketing that points people to my ad, in a way I couldn’t.

10. Successful history. (They worked for me before.)

(This Q & A is part of a series at FSBO Jane. Have a question you’d like answered? E-mail fsbojane at gmail dot com.)

Q: I have personalized each of my children’s rooms, one with a night scene with glow-in-the dark dragons and the other with a garden setting and picket fence.

 My friend suggested painting over the scenes to neutralize the rooms before we put it on the market, but I don’t want to in case we don’t sell right away.  What do you suggest?

A: How creative! Those rooms sound great and I can understand why you don’t want to paint over them, but you have to use an open mind here. 

My point is you just don’t know who is going to be looking at your home so it is better to neutralize the rooms, especially the dark room with the dragons.  Although it is creative, a black room isn’t very attractive and may immediately turn off a prospective buyer.  Second, if families view your home young children may be frightened by the dragons.  Third, what if a potential buyer doesn’t have any children?  These rooms could immediately draw a negative reaction.

So, yes, I agree with your friend that the rooms should be painted over before you place the home on the market.  Just make sure to take lots of pictures before doing so.  With your creativity, your children’s bedrooms will be just as special in your new home.

An air conditioner automatically adds value to your home. This article from Money Magazine’s Josh Garskof explains why purchasing an air conditioner in the dead of winter is a great investment.

The Heart of Chicago’s North Side

Lincoln Park is one of Chicago’s most popular neighborhoods, offering beautiful architecture, vibrant gardens and thriving cultural attractions. It gets its name from the city’s largest park, a 1,200-acre area that stretches along Lake Michigan.

This neighborhood is also home to DePaul University, a well-known Chicago college, meaning a diverse mix of students fill the area.

What’s it like to live here? Picture yourself surrounded by historic buildings on quiet, tree-lined streets. The real estate is some of the finest in the area: greystones, brick townhomes, charming row houses and coach homes. The community offers the largest array of boutiques, restaurants and bars per capita in the city, and there’s so much to do. To the east is the Lincoln Park Zoo, the Peggy Notebaert Nature Museum, beaches, running paths, sporting facilities, a golf course and a summer theater. To the west are top-notch restaurants for any taste! It’s truly a piece of Chicago history and also houses the Chicago Historical Society on Clark and North.

Current average sales price: $582,141

*Photos taken from Baird & Warner, Old Houses and rent.com.