This changes every quarter but there are some things that stay the same. New constructions and newer homes are popular just like newer cars. They have all the bells and whistles that you see on HGTV....minus the trees. If you like trees...there are a number of great options that are a little older and might require a small amount of updating.
You can't be living in a new construction and selling, which means you must live in an existing house. If your home is in a more modest price range that does not compete with new constructions, just keep things clean, neutral and put away as many small items as you can. Give your house some curb appeal with new lights, mulch and some flowers. Maybe some shutters and a flower box. If you live in a house built in the last 30 years, even the last 10-12 years, and it's in the same price range as a new construction...LISTEN UP!
The market is good for nice homes priced right. Whatever you think it might cost to fix up your house, it will cost you DOUBLE if you don't. You'll have TWICE the time on the market, which will lead to a lower listing price and an even lower selling price. Why the cheery outlook? I've been doing this a long time. Since birth. I've seen SO many homes that would have sold for SO much more had the sellers just put in a little time and money up front. I don't know how many times I've heard "we don't want to paint our purple room or change the leopard skin carpet to a neutral color because someone will just come along and want something different." You know what-you're right-someone will come along and want something different-like your neighbors neutral themed house that is for sale down the street.
What about just giving the buyer a credit to change the paint or carpet? Ya know why a credit sounds like a good option to the seller-because they don't have to do the work. Ya know why a credit doesn't sound like a good option to the buyer-because they are stuck doing the work. Remember-the buyers have to deal with moving into a place and getting settled. As appealing as a credit might sound to the seller, it sounds like "fixer upper" on a listing sheet to the buyer.
You might be thinking..."Mark's sounding a little harsh tonight...what's with that?". I hate to see people lose money. I hate it even more when it can be so easily avoided. If you hire me to sell your house and you want my honest opinion, you'll always get it. It may not be what you want to hear, but by not telling you then I'm remiss in my job. That leads to a longer marketing time and a lower selling price.
What does this have to do with the title of this blog? Not much...got carried off on a tangent.
What's selling? Above $200K, draw a 10-15 minute driving circle circumference around downtown Peoria and that puts you where most of my clients like to be. Germantown Hills, Morton, north Peoria, Dunlap, Washington. New constructions tend to start for the most part around this price range and a little higher.
Looking above $500K? You'll find homes in this price range everywhere, but forgive me Metamora, Germantown Hills, Washington and even Morton, right now there are more homes in this upper price range in the Dunlap area than any other community in central Illinois. That's not to say the other communities are any less desirable-absolutely not. They all offer something unique to their respective areas. I'm just pointing out where most of the homes in a respective price range are.
Above $500K right now I've seen a big slow down. I don't like saying that-but for the first time in a number of years it seems slow. I have a number of clients that have moved into town from other states where the markets are horrible, and they can't buy anything here until their houses sell their. Many of these clients I've been able to find short term rentals for and as soon as they can sell their current house then they will be buying here. I've never seen so many clients in this situation in my entire career. It speaks volumes as to what is going on nationally. Peoria has remained a little bubble in the real estate market. Maybe it will burst too, but not today and not this year. Things remain strong regardless of what is going on in every other market I know. Look at all of the Bloomington builders that have moved over here-perhaps half of our larger builders have come from Bloomington.
Peoria is strong. Our economy remains strong. Our home values remain strong. It still rains way more than it should but our sunny disposition remains strong. Let me know what you think of this blog if you are a frequent visitor. Drop me an email sometime and let me know what topics you'd like me to hit on. Let me know what you like or don't like about our website. We've seen the traffic increase every month since we've started this and it's thanks to people like you.
You can't be living in a new construction and selling, which means you must live in an existing house. If your home is in a more modest price range that does not compete with new constructions, just keep things clean, neutral and put away as many small items as you can. Give your house some curb appeal with new lights, mulch and some flowers. Maybe some shutters and a flower box. If you live in a house built in the last 30 years, even the last 10-12 years, and it's in the same price range as a new construction...LISTEN UP!
The market is good for nice homes priced right. Whatever you think it might cost to fix up your house, it will cost you DOUBLE if you don't. You'll have TWICE the time on the market, which will lead to a lower listing price and an even lower selling price. Why the cheery outlook? I've been doing this a long time. Since birth. I've seen SO many homes that would have sold for SO much more had the sellers just put in a little time and money up front. I don't know how many times I've heard "we don't want to paint our purple room or change the leopard skin carpet to a neutral color because someone will just come along and want something different." You know what-you're right-someone will come along and want something different-like your neighbors neutral themed house that is for sale down the street.
What about just giving the buyer a credit to change the paint or carpet? Ya know why a credit sounds like a good option to the seller-because they don't have to do the work. Ya know why a credit doesn't sound like a good option to the buyer-because they are stuck doing the work. Remember-the buyers have to deal with moving into a place and getting settled. As appealing as a credit might sound to the seller, it sounds like "fixer upper" on a listing sheet to the buyer.
You might be thinking..."Mark's sounding a little harsh tonight...what's with that?". I hate to see people lose money. I hate it even more when it can be so easily avoided. If you hire me to sell your house and you want my honest opinion, you'll always get it. It may not be what you want to hear, but by not telling you then I'm remiss in my job. That leads to a longer marketing time and a lower selling price.
What does this have to do with the title of this blog? Not much...got carried off on a tangent.
What's selling? Above $200K, draw a 10-15 minute driving circle circumference around downtown Peoria and that puts you where most of my clients like to be. Germantown Hills, Morton, north Peoria, Dunlap, Washington. New constructions tend to start for the most part around this price range and a little higher.
Looking above $500K? You'll find homes in this price range everywhere, but forgive me Metamora, Germantown Hills, Washington and even Morton, right now there are more homes in this upper price range in the Dunlap area than any other community in central Illinois. That's not to say the other communities are any less desirable-absolutely not. They all offer something unique to their respective areas. I'm just pointing out where most of the homes in a respective price range are.
Above $500K right now I've seen a big slow down. I don't like saying that-but for the first time in a number of years it seems slow. I have a number of clients that have moved into town from other states where the markets are horrible, and they can't buy anything here until their houses sell their. Many of these clients I've been able to find short term rentals for and as soon as they can sell their current house then they will be buying here. I've never seen so many clients in this situation in my entire career. It speaks volumes as to what is going on nationally. Peoria has remained a little bubble in the real estate market. Maybe it will burst too, but not today and not this year. Things remain strong regardless of what is going on in every other market I know. Look at all of the Bloomington builders that have moved over here-perhaps half of our larger builders have come from Bloomington.
Peoria is strong. Our economy remains strong. Our home values remain strong. It still rains way more than it should but our sunny disposition remains strong. Let me know what you think of this blog if you are a frequent visitor. Drop me an email sometime and let me know what topics you'd like me to hit on. Let me know what you like or don't like about our website. We've seen the traffic increase every month since we've started this and it's thanks to people like you.
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