November 2020: Chicagoland Real Estate Update

It’s natural to think that in any market, one person will “lose” and the other will “win.” In practice, that’s not the case because we’re always looking for a win-win outcome.

We negotiate an agreeable price and terms, and almost like magic, we exchange keys, families move, and new stories begin.

No matter what happens in between, closing day can and should be a win for all parties.

What is a Seller’s Market?

The definition of a Seller’s market is when more buyers are looking for homes than there are homes available.

A Seller’s Market happens for many reasons. An employer may relocate and bring more jobs into an area or, as we see now, historically low interest rates motivate buyers to lock in a predictable house payment, amplify buying power, and hedge against inflation.

 How Do Buyer’s Win During a Seller’s Market?

Should a buyer wait for a Seller’s Market to cool? The answer is, it depends.

During our Buyer’s Consultation, we discuss your motivations, your goals, and your timeline for homeownership. Sometimes it makes perfect sense to buy a house, even in a Seller’s Market. Other times it doesn’t.

Our goal is for you to be confident in your choice, and we want you to win. Having your pre-approval in hand is a must. Writing a winning offer is next. We work closely with you and our peers to put you in the best position.

How Does a Seller Win During a Seller’s Market?

Today’s buyers are well informed. Even when the market is in your favor, your house must be priced and positioned the right way.

It’s tempting to price above the market and wait for the right buyer to come along. We can talk about how that strategy helps and hurts during our consultation.

We also discuss the market for your neighborhood (location) and your price point. Not all homes are in a Seller’s Market at the same time!

We’ll show you how much homes like yours finally sell for because the listing prices you see online only tell part of the story. We will sell your house with the highest net profit possible in the time frame that works best for you.

Do I Need a Consultation?

Our goal is to educate you about all the possibilities and challenges so you feel confident about your decision. We never want you to miss out on an opportunity or jump into something blind based on something you read or heard, which may or may not apply to you or our local market.

Let’s set up a no-obligation consultation to be confident about how to read our current housing market news. Even when you’re not 100% certain you want to buy or sell right now, there is no harm in seeing what is possible.

Call today and let’s get you on your way.