real-estate-2021-happy-holidays-by-penny-obrien-local-industry-expert
top of page
Glancer Magazine
Glancer Magazine We Love Local

Chicago West

Featuring West Suburban Chicago...At a Glance!

Item List

LET'S GET THAT HOME READY FOR SPRING 2022 MARKET If you are thinking about a move in 2022, as soon as the tinsel has settled, call your local real estate expert and schedule a consultation! 2021 has been a record breaking year in real estate. Fannie Mae's forecast for 2022 is a 7.9% rise in median home prices. It's going to be a great year to sell! But interest rates are expected to rise to 3.4% to 3.7%, lessing the buyer's purchasing power. A .50% increase in interest rate on a $500,000 home decreases the buyer's purchase price $30,000. The lowest point in inventory is December thru February. All these factors considered, the earlier you list your home the better. Why wait for all the competition in May? Closing date is a negotiable term! Brittany is graduating from high school? Ask for a first week of June close date! The average seller takes 2 to 4 weeks to ready their home for the market. Do you need to paint or install new carpet? Your realtor will have all the connections you need to complete this work. Then staging & pictures & it's show time! SOLD! 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

REAL ESTATE 2021 | Happy Holidays by Penny Obrien, Local Industry Expert

Now's the Time to Get Your Home Ready for the Spring Market

Read More
PREPARE NOW FOR THE SPRING MARKET – IT STARTS JANUARY 2, 2022! You've been contemplating selling your home this year, especially since the McConnell's down the street got a GAZILLION bucks for their home. In our northern MLS sales prices are up an astounding 14.7% for the last 12 months! It's not too late in 2021, but you have decided to stay put for this one last holiday. NOW is the time to reach out to your local real estate professional. Do you need to paint, put in new carpet, declutter? Would you consider the golden ticket of real estate currently & paint your kitchen cabinets white? Let them be your guide! Why wait until spring when every contractor is booked solid? Schedule them today! I also find that it surprises sellers that the spring market starts January 2, 2022! Why wait until April or May when the most homes for sale enter the market? Historically our lowest point of inventory for the year is December thru February. So much less competition! The close date is negotiable! List in March & request a June close date! National Association of Realtors predicts a robust 2022. Unless there is a huge increase in inventory or a dramatic jump in the interest rate, this sellers market will continue through next year. But of course, who could have predicted what the pandemic would do to the housing market? If you are thinking of selling, do it sooner than later! 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

REAL ESTATE 2021 | Prepare Now for the Spring Market by Penny Obrien, Local Industry Expert

This Month's Blog Shares on Why It's Important to Prepare Now for the Spring Market

Read More
NORMAL FALL MARKET SLOW DOWN NOWHERE IN SIGHT Even as families start the new school year, sellers continue to list their homes with confidence. More than half of US homes are selling in less than a week! It will not be a return to a normal fall market slow down. 2021 is still an excellent year to sell your home! According to the National Association of Realtors, housing inventory is increasing. July inventory increased 7.3% over June. The gap between inventory and demand is decreasing. While it continues to be a heavily seller's market, new listings are shifting the market in favor of the buyers. Add that to historically low interest rates which were 2.87% last week, the buyers have FOMO! Afraid of missing out on the once in a lifetime to own more home than they ever imagined! If you are considering selling your home, 2021 is the year to do it! Inventory levels are increasing. The delta variant of Covid is an unknown for the housing market. Interest rates are predicted to rise, however slowly. Selling sooner than later could help you realize a higher sales price as we head towards a more balanced market in 2022. 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

REAL ESTATE 2021 | An 'Anything But Normal' Fall Market by Penny Obrien, Local Industry Expert

Normal Fall Market Slow Down Nowhere in Sight

Read More
LET'S TALK LIGHTING Near & dear to my heart!  We have returned to a traditional seasonal fall market. The buyers who will move in before school starts have already bought. You're considering selling your home later this fall or waiting until  Spring 2022. You have fresh paint & new carpet. The jewelry on a well-dressed home is the lighting fixtures! Sellers often find this task to be overwhelming. It is one of the least expensive updates you can make. It is also the update that makes Mrs. Buyer Fall in Love with Your Home! She will exclaim this house is SOOOO updated as she gazes at the Farmhouse rectangular light fixture over the kitchen table! The current trends are Farmhouse, Industrial or crystal lighting. If you replace your island lighting, kitchen table & dining room lighting, your entire home will feel more updated. Sellers often find the replacement of Grandma's brass 24 candle chandelier in the foyer an insurmountable task. It is the first impression when buyers enter your home. My sellers are finding foyer coach house lighting or my personal favorite, Orbs for as little as $400 to $600 in big box stores. Hire your local handyman to hang for $200 to $300! Voila'! Instant update & extra added pizazz to your home that will melt Mrs. Buyer's heart! 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

REAL ESTATE 2021 | The Importance of Updated Lighting by Penny Obrien, Local Industry Expert

Lets' Talk Lighting

Read More
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

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

Read More
US NEWS PREDICTS HOME INVENTORY WILL INCREASE, BUT SELLER'S MARKET TO REMAIN As we open back up, the mask mandate lifts & vaccination % climbs, the housing market this summer will look a lot different than 2020 when we were in complete lockdown! America is going to TRAVEL and many buyers have already bought. As of 6/8/21 our Northern Illinois MLS still reporting the month supply of inventory is down -51%, average price is up 17.6%, new listings are at a slight uptick of +5.9%. Last week showed new listings and homes under contract about even with the same week in 2020. We could see a more traditional summer market as the nation takes to the skies and the beaches! There will also be a hard back to school date when buyers will want to be in their new homes. The fall will be the true test as the market usually calms down after those last frantic closings in August. US News predicts home inventory will increase, but remain a seller's market for the foreseeable future. Analysts also forecast that interest rates will rise, but at a slow pace. Low inventory was caused by sellers having plenty of space to work remotely & to create an exercise space. Therefore, not moving! With the end of the pandemic in sight, sellers are now entering the market. 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

REAL ESTATE 2021 | Real Estate Predictions & More by Penny Obrien, Local Industry Expert

REAL ESTATE 2021 | Real Estate Predictions & More by Penny Obrien, Local Industry Expert

Read More
THINKING OF SELLING? HERE ARE THE TOP 3 REASONS TO LIST YOUR HOME TODAY 1. Prices  are up +17.2%  nationally! 2. Supply of existing homes for sale is down 28% 3. Lightning-fast market time! down 12% A year ago, we saw housing sales come to a screeching halt. Despite this, 2020 saw more existing homes sales than any year since 2006! Low inventory coupled with historically low interest rates have led to bidding wars. Home prices have jumped an astounding 17.2%. Millennials have aged into home buying and lead the pack with a whooping 38% of sales. Housing starts rose 5.8%. The real estate market is resilient & continues to support our economic growth. According to the National Association of Realtors, Freddie Mac predicts home prices will rise by 6.6% in 2021 & 4.4% in 2022. Inventory of homes is down 28% and nationally we only have a 2 month supply of existing homes for sale making for a super competitive market for buyers. In this incredible seller's market, it is even more important to hire an experienced real estate professional. For sale by owners are selling to one buyer without exposing their home to the entire market which would result in a better price OR underpricing and selling right away but leaving tens of thousands of $$$ on the table. 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

REAL ESTATE 2021 | Top 3 Reasons to List Your Home Today by Penny O'Brien, Realtor

REAL ESTATE 2021 | Top 3 Reasons to List Your Home Today by Penny O'Brien, Realtor

Read More
DEAR MR. & MRS. SELLER, PLEASE LET ME BUY YOUR HOUSE! LOVE, YOUR VERY EAGER, NON HOME SALE CONTINGENT, AS-IS, 70% FINANCING, APPRAISAL WAIVING BUYER! WE'LL EVEN THROW IN THE GOLDEN DOODLE In this tough market for buyers, it is important to use a seasoned real estate agent whose experience can be your ace in the hole. In this 2021 buying season, buyers are writing offers on 3, 4 or even 5 homes and still not emerging victorious. When you find yourself in multiple offers, it often takes a combination of terms to win the home. 1. Do not go into the home buying process with a home sale contingency . Work with your savvy lender to come up with creative financing that allows you to purchase without writing a home to close contingency in your contract. 2. With listings receiving an average of 4.1 offers, it has become the new normal for the buyers to agree to an AS IS purchase.  The buyer will still conduct their inspection, but not ask for repairs.  3. There are a lot of new terms being coined today as buyers hustle to secure a home! List price is the new starting price. With many homes selling above list price, $10k to $25K, the seller is sweating the appraisal. Buyers are adding an appraisal waiver addendum to their contracts. Some buyers offering an appraisal gap waiver of a certain dollar amount, such as $10K. 4. Escalation clauses are a great way to end up the top dog.  Previously, $1000 over any other offer up to your chosen cap amount worked. Now, It is $2500 to $5000 over. It needs to be enough to make a difference. 5. Have your realtor ask the list agent what terms would make the seller happy. What is the seller's preferred closing date! Seller's love this! 6. And of course, the personal love letter to the sellers.  Sometimes you can write a letter than tugs on the seller's heart string. Although you did need to be mindful of fair housing laws, ie no pictures of the happy buyers. Some agents not allowing letters so as to not cloud the seller's decision. 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

REAL ESTATE 2021 | An Experienced Agent Can Be Your Ace In the Hole by Penny O'Brien, Realtor

REAL ESTATE 2021 | An Experienced Agent Can Be Your Ace In the Hole by Penny O'Brien, Realtor

Read More
WHEN LISTING YOUR HOME THIS SPRING Why NOT to Be a “For Sale by Owner” During a HOT Market If you’re a for sale by owner and sell your home before market to a friend or an acquaintance, you’re letting that ONE BUYER determine what your home is worth. On the other hand, you could let an experienced agent get your home in front of the most buyers & let this hot market tell you what your home is really worth! To get the most for your home, you NEED a full launch in the MLS, gorgeous professional photography, staging and a beautiful write up! When choosing an agent, it's tempting to go with your family friend or your Mom's first cousin's husband, BUT a local experienced agent will get you the best price in the shortest amount of time. The agent will develop a marketing strategy to expose your home to their extensive network of buyers & sellers. In this crazy market, are you really prepared to schedule 20 showings in 2 days? Will you understand the terms and conditions of the 5 offers you will receive? Will you know how to vet the lenders? Will you be listing your home at the correct list price? An experienced agent knows how to do all that and get you to the closing table! According to the National Association of Realtors, the average home sold by a realtor in 2020 was $280,000. The average price of a home sold by owner was $200,000! That is a $80,000 difference! One of seller's main concerns is "leaving money on the table!" Selling you home FSBO does exactly that!  Take the guess work out of listing your home, call your local real estate expert & let them go to work for you! 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

REAL ESTATE 2021 | Why NOT to Be a 'For Sale by Owner' this Spring by Penny O'Brien, Realtor

WHEN LISTING YOUR HOME THIS SPRING Why NOT to Be a “For Sale by Owner” During a HOT Market If you’re a for sale by owner and sell your...

Read More
LISTING A HOME IN TODAY'S MARKET You'd love to list your home, but worried you won't find a new one? When meeting with sellers, one of the first topics of conversation is, where are you going ? While many sellers already know where they are moving and have secured their next home, there are many sellers who want to take advantage of this hot market, but are worried about finding a new home to move into locally. As a result, real estate agents are getting very creative in helping their clients achieve their goals! If the seller/buyer is in the admirable financial position to buy before they list their home, this is the easiest scenario in finding their new home. Most home sales are in multiple offers & being able to drop a home to close contingency makes you a more competitive and stronger buyer. In today’s seller's market, selling your existing home is less of a concern than in past markets. Some sellers do not want the inconvenience of a lot of showings and/or have Covid-19 concerns. The savvy realtor is perusing the private listings on a daily basis in an effort to find a home for their buyer. A seller can be approached with a home to sell contingency, especially if they own a home that is in excellent condition and in a lower price point that will sell quickly. Some sellers are open to this idea if they get the price and terms they are looking for, and can reduce the number of showings. The closing date is one of the negotiable terms of the contract. Standard close date is 6 weeks for someone obtaining a mortgage. If a seller needs time to find a home, asking for a 2 or 3 month close date can give them an opportunity to find their new home. It's a seller's market, you call the shots. For example, it can be stated in the MLS that the seller's request a June 1st close date, thus letting potential buyers know in advance the time frame for closing. Lastly, sellers wanting to take advantage of the hottest seller's market in a long time are finding temporary housing while figuring out the next steps and/or waiting for their forever home to come on the market. Have a conversation with your local real estate expert to look at all your options for a quick & stress free sale of your home! 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

REAL ESTATE 2021 | Listing a Home In Today's Market by Penny O'Brien, Realtor

LISTING A HOME IN TODAY'S MARKET You'd love to list your home, but worried you won't find a new one? When meeting with sellers, one of...

Read More
LOW INVENTORY! HIGH DEMAND! Sellers in our Northern MLS are experiencing sales prices appreciating 6.4%! Week ending 1/4/21, we experienced 30% more homes accepting a contract, 35% more closed, but 15% FEWER NEW LISTINGS! This severe inventory shortage has the buyers in a frenzy wanting to buy because of historically low interest rates. Millennials which are 40% of our buyers, have accelerated their home search. Covid-19 has buyers wanting more space for 2 people working from home and e-learning. Homes are selling before market, full list price or in multiple offers. This will not last forever as more and more sellers are entering the market. NOW is the BEST time to get the BEST price for your home. Do not wait until April or May along with everyone else. The few homes that are listed are getting an amazing amount of attention. This is apparent in the sheer number of showings per listing. Our Northern MLS reports showings up 28.8% year over year. Naperville's showing increase is a staggering 44.6% (statistics courtesy of Infosparks). 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

REAL ESTATE 2021 | It's Here–Spring Market 2021 Is RED HOT! by Penny O'Brien, Realtor

LOW INVENTORY! HIGH DEMAND! Sellers in our Northern MLS are experiencing sales prices appreciating 6.4%! Week ending 1/4/21, we...

Read More
GET READY! THE SPRING MARKET 2021 HAS ARRIVED WHAT WE KNOW! According to INFOSPARKS, in our MLS the average sales price has increased +5.6%, year over year. Our months of supply of inventory is down a startling -22%, creating a HUGE pent-up demand. There is only 3.2 months of supply creating a fantastic seller's market. A seller will always negotiate the best price when demand is high & supply is scarce. The shortage of inventory leads to continued appreciation. When meeting with sellers that want to list in the spring market, I always urge them to consider listing in January, February or March. EVERYONE waits until the end of April, beginning of May which significantly increases the competition. With the possibility of a vaccine being released soon, COVID-19 restrictions easing up, sellers that held off listing in 2020 could list in 2021. While it could be quite a while until we see inventory catch up, a seller should definitely be taking advantage of the market conditions for a quick sale at a great price. The lack of inventory also increases a listing's number of showings! In our MLS the number of showings per listing is up 25% year over year. If you are thinking about selling, get that house on the market! The time to sell is now! 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

REAL ESTATE 2021 | The Spring Market Has Arrived by Penny O'Brien, Realtor

GET READY! THE SPRING MARKET 2021 HAS ARRIVED WHAT WE KNOW! According to INFOSPARKS, in our MLS the average sales price has increased...

Read More

Latest Issue
March 2024

Glancer Magazine March 2024

Glance through the Pages

of Your Community Living Magazine Today! 

► March 2024 Issue, Western Suburbs

► DuPage Feature

► Kane Features

► Kendall Features

bottom of page