REAL ESTATE 2021 | Back to Basics In this Seller's Market by Penny Obrien, Local Industry Expert

BACK TO BASICS AS THE SELLER'S MARKET CONTINUES

Real estate experts expect the seller's market to continue into 2022. The market has experienced some normalizing in the last 4 weeks as more homes come on the market, buyers bought & interest rates creep up. We had a 6.7% increase in new listings beginning of June as compared to the beginning of May. In June, the number of homes under contract is about even with 2020 & new listings only increased over 2020 by 2.75%. As competition increases, it is back to basics for sellers. The best looking home at the best price sells first (or gets the most offers)!

1. Paint - Paint is money in a can! A fresh coat of trendy gray can transform your home and adds value. It is the most inexpensive update you can make.

2. Carpet - a buyer does not want your 25 year old carpet with 25 years of living woven into it! "What if we pick out something the buyer doesn't like?" Let your experienced realtor & carpet guy show the carpet sellers put in their homes to sell! Old carpet speaks to the condition of the home. Fresh, current carpet gives the home an overall well maintained appearance.

2. Light fixtures - so inexpensive! Still have your grandma's brass chandelier in the foyer? Order a $400 to $600 light fixture from a big box store. Hire a handyman to hang it! And the kitchen & dining room? Can you say farmhouse? These easy fixes make Mrs Buyer ooh & aah and get the checkbook out. It appeals to her emotions!

Happy Selling!

ABOUT PENNY O'BRIEN

BAIRD & WARNER – One word that consistently comes to clients’ minds when they think of Penny O’Brien is “hustle.” As a Seller Representative Specialist, she loves meeting with sellers to discuss pre-market home improvements and guide them to make their home “showtime ready” when it hits the market. She strongly believes in professional staging and offers it as a complimentary service. With a reputation for “good-looking listings,” she helps clients realize a higher return and quicker sale. Penny says “Staging transforms a home from average to amazing”.

Penny O'Brien Broker, Relocation Specialist and

Negotiation Expert • (630) 207-7001 • penny.obrien@bairdwarner.com