REAL ESTATE LOCAL | Return to Real Estate 101 by Penny O'Brien of Baird & Warner Naperville
RETURN TO REAL ESTATE 101
Is it STILL a good time to sell my home as interest rise & the market normalizes? The short answer is a resounding YES! Simply supply & demand dictates that the market is still very favorable for sellers. We continue to see the updated homes selling above list price in multiple offers. But the seasonal slowdown in the market is giving the buyer room to negotiate, which is one reason we a saw the highest percent of cancellations of contacts in June that we have seen since Covid started -14.9%. But gone are the days when you could just slap the home in original condition on the market & receive multiple offers. You need to consult a real estate agent for the pre-market improvements needed to make your home the HOT home!
1. Paint, Paint & more paint. The most inexpensive improvement to make with the best ROI! Can you say “agreeable gray”?
2. Carpet? Do you have your original carpet? Buyers do not want your carpet with 20 years of living woven into it. Don’t worry about the selection. Your realtor will tell you the exact carpet needed to sell a home!
3. The golden ticket to multiple offers in this market – have your kitchen cabinetry professionally painted white!
4. Light fixtures are like the jewelry of the home. Switch out at least foyer, dining room & kitchen light fixtures to make the Mrs. Buyer ewww & ahhhhh!
5. Declutter – If you aren’t taking it with you – get rid of it! Or at least move it into the garage.
Hopefully, your take away from this feature will be that it is still a seller’s market & a great time to sell your home because of supply shortages & high buyer demand. If interest rates increase, it may be better to sell sooner than later as some buyers may retreat from home buying!
Penny O’Brien is among the top 1% of all Chicagoland Brokers serving buyers and sellers throughout the western suburbs. Her track record of success has helped her build a solid repeat and referral client base.
• Sold $53 Million in 2021
• #1 Realtor Baird & Warner Naperville 2021
• Top 1% of all Chicagoland realtors
• Glancer Magazine Reader’s Choice Award 2021,2020
• Chicago Agent Magazine Who’s Who 2021,2020, 2019
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
