Choosing the Right Agent. Knowledge is Power.

As I reflect on my 22 years as a full-time Realtor, I have experienced some significant real estate market ebbs and flows. There have been the hypermarkets, the correcting markets, the slow markets, and the ultra-competitive markets.

Shortly after I became a licensed agent in 2001, homeownership peaked at an all-time high and the market and home value growth was at the highest level in decades.

Then came the onset of the 2005 Housing Bubble. 2007 and 2008 brought global stock market corrections and falling home sales. 2009 began the wave of foreclosures.

Now fast forward to the 2020 pandemic market that saw housing gain more value in any year since 2005. Super-charged demand drove intense competition among buyers adding to the large Millennial generation aging into prime first-time buying age and near lows for mortgage interest rates. The high demand did not stop in 2021, which was a banner year for the metropolitan Chicago area and buyers were still working remotely. Multiple offers, bidding wars, over-list price sales prices, escalation clauses, and appraisal gap addendums became commonplace elements of offers.

2022 saw a bit of a cool down but intense demand continued for homes that were located in highly desirable locations and in updated condition.

Now enter 2023 where we are just beginning to see a just a bit of a price cool down in the hyper-competitive markets. Tight inventory continues as do multiple offer scenarios. There is great value in working with an agent that is comfortable with navigating these conditions and situations.

Read below some of the benefits of working with a tenured and trusted real estate agent that has navigated both strong and market corrections.

Walking through the doors with solutions with selling in today’s market.

As a seasoned listing agent, I have not experienced such low inventory levels in the past 20-plus years of selling real estate.  While the current market is more of a sellers’ market, this does not mean that today’s sellers can lower their standards when marketing their home for sale. Below are some thoughts for sellers to take under consideration when putting your home on the market.

• Price it right for a quick and successful sale.
• One of the secrets to realizing top dollar for a home is to create buyer interest and a sense of excitement right out of the gate. We are still seeing multiple offer and over list price situations particularly when a home is well positioned price wise.
• Sell with confidence by doing the homework. 
• It’s imperative to evaluate your hyper-market by using live data to see how your home compares to relevant active listings and recently sold properties. This data provides sellers with the numbers to set expectations and develop a strategy.
• Set a price based on the relevant market data and seller goals.
• First impressions are KEY. 
• Sellers have one chance to create a first impression.
• It is crucial to prepare your property which includes well-curated staging so a potential buyer can envision themselves living in the home.
• State-of-the-art photography and premium imagery are ‘must haves’ that set the tone for marketing on the multiple platforms in today’s world. Coldwell Banker provides me with the best of the best marketing tools and resources in the industry!
• Proper Preparation Prevents Poor Performance.
• Take the steps needed to maximize the sale price. Often small changes make a big difference to the sale price.
• Additionally, there are programs such as Coldwell Banker Realty’s RealVitalize program which  provides home sellers with value-adding home improvement resources prior to or during the home listing period with sellers spending no money upfront.

Sellers must be educated about their individual micro market is key and a seller-focused real estate agent that is in-tune with your market will be one of your most powerful tools. There is the real estate market and then there is YOUR market.

See what one of my seller clients had to say about working with me and visit my website! http://www.homesbykarenbaker.com

Seller Testimonial

“Karen was extremely helpful throughout the entire home sale process. She recommended areas of the house that needed attention prior to going to market and provided us with qualified referrals that helped us prepare our home. Karen also provided us with a Market Analysis of our home that was factual and complete. Karen’s marketing strategies were top notch and sparked heavy interest in our home including getting multiple offers. Karen’s premium photography resources were outstanding. We felt that our home was represented exceptionally well. During negotiations, Karen was on top of the process and provided us with sage counsel on the decision points. We can’t say enough good things about Karen when she listed our home. ” 

I love color and each year I can’t wait to see what Pantone will select for it’s Color Of The Year. I’m  really looking forward to seeing 2023’s color, Viva Magenta, as pops of color and home accents.

This color is rooted in nature, and has been described as ‘brave and fearless, and a color whose exuberance promotes a joyous and optimistic celebration’.

Do you see using this color in your home?

#realestatetrends #coloroftheyear2023 #realestateadvisor #coldwellbankerrealty #magentaverse

Click on the link below to read more about this Color Of The Year!

https://www.pantone.com/articles/color-of-the-year/what-is-viva-magenta

With the new year just kicking off, now is the time to think about your real estate goals for 2023. 

If buying or selling a home is on your 2023 agenda, it is critical for you to understand today’s housing market.

2022 brought high inflation and increased interest rates, which have an impact of the economy as well as the housing market.  There are three key questions to be asking yourself as you consider your 2023 goals.

1. What is Motivating you? Is your motivation becoming a first time homeowner? The need for more space? The need for less space and/or something with lower maintenance? A career/job relocation? Selling a family home, settling an estate or divesting real estate assets? Whatever the reason is, use your motivating factors as your guidepost to achieve a lasting sense of accomplishment.

2. Envision What Your Next Home Will Look Like. When you know you want to move or want to sell, think about the essential elements of your dream home. You also want to make a list of the non-negotiable home features and the features the have a more flexible criteria. Finding a balance with your wants and needs is important. Location and condition are two key factors that are typically at the top of buyers’ wish lists.

3. How Ready Are You To Buy? Before your get too far into the home buying process, it is imperative to consult with a lender or financial advisor to have a deep understanding of what your position to buy is. A pre-approval from a lender and down payment review are musts to secure a smooth transaction. If your move involves selling your existing home, you will want a review of your home equity.

A real estate professional has the experience, knowledge and training to guide you through every step of the process. A real estate transaction is a process that can feel overwhelming. A lack of information can create misconceptions about the real estate market and sale process, but working with a trusted expert can connect you with the best and most relevant market data about the state of today’s market.

Let’s connect to review your 2023 goals so they can become a reality!