Selling in Barrington Illinois-Stop Decreasing Your Price-Start Upgrading Your Home
Current Marketing Time for Barrington. The current average marketing time for homes in Barrington based on the entire zip code-all residential homes-over the last six months is 253 days. The same number for homes in the median price band of $500,000 to $700,000 is 278 days. It increases because there is more inventory in the median price range available-currently 151 homes with only 41 closings in the last 6 months.
Price Reductions. In the last 30 days in Barrington there have been 156 new properties listed for sale. In that same period of time we have had 43 closings with another 12 ready to close. 15 homes expired without a sale and may have been re-listed. 34 homes have had one or more price changes in the same period.
Are upgrades in order? Here are some reasons for price reductions:
- Over-priced to start
- Over-priced now as prices still falling
- Objections by buyers which cannot be overcome
- Need to sell quicker than market time
- Relocation
- Lack of upgrades compared to other homes - Bingo here is an opportunity.
If you are getting any showing feedback hopefully you'll be learning why buyers did not like your home. Some of the most common objections can be fixed by you. Location is prime, curb appeal is important and remember that kitchens and bathroom sell houses. Also think about the price point of your home and logon to my Barrington website to view other homes for sale in your price range. No login is required.
What Can You Upgrade. Now you have seen the competition you might consider upgrading a few things to make your home stand out above the crowd. Here are some ideas for your half a million dollars home. Even vacant homes can exude a rich warm and inviting interior.
- Kitchen Floor- Laminate or Vinyl - Buyers will want hardwood or ceramic
- Laminate counter tops - Granite is not that expensive and will make the kitchen pop
- White appliances - Stainless steel will add value and shine with your new granite
- Soiled or dull carpets - try a good steam clean first but consider replacing
- Vinyl floors in laundry or washrooms - upgrade to ceramic
- Scratched hardwood floors - have them re-finished
- Brass light fixtures - switch them out - considered cheap - replace with bronze or brushed nickel
- Multi-color rooms - find a neutral color and paint the whole house
- Curb appeal - plant some seasonal colorful planters to welcome your guests up your driveway and into the house
There are so many simple things you can do and upgrades that will make a big difference. If your home has been on the market longer than the average, do not expect your buyer will do it when they move in-they already moved in-to some-one else's house.
So how many more times do you want to reduce your under-priced home to compensate for lack of upgrades? If you did not sell and cannot determine what to do, call me for a fresh perspective. Corinne 847-363-3686. Of course this is best done before you list.
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Copyright 2010 Corinne Guest All Rights Reserved - * Selling in Barrington Illinois-Stop Decreasing Your Price-Start Upgrading Your Home *
Corinne Guest
Realtor & Managing Broker
Royal Advocate Realty, Barrington
Call today 847-363-3686 for real estate and relocation service.
Suburban Real Estate - Lake Zurich, Hawthorn Woods, Kildeer, Long Grove
Corinne: BINGO is right! Your project list contains so many of the "must haves" and "must do's" that they are presently featuring on all the home and staging shows. Great advice for sellers to read and follow ... if they truly hope to sell ...
Gene
Gene,
Thank you, so watch the shows as well eh? I have a home in my subdivision that should follow this plan instead of dropping the price all the time. It pains me the type of advice they are getting. Homes are selling here now better than in years.
Corinne, it is so true, simple upgrades can help the home looks more appealing to buyers, especially if the target buyer is 1st time buyer or upgrading to second home with limited budget to do upgrades themselves. And most of the time, these tips are inexpensive upgrades and will bring result.
This is so true!!! Thanks always for all your help!