Why Is Selling Your Home a Two-Step Process?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today I want to talk about selling your home. Specifically, I am going to talk about why you need to sell your home twice in order to reap the benefits. 

The first time you sell your home is when the property is on the market, properly priced and marketed, a buyer submits an offer, and you accept it. That’s the first sale.

Then, unless the buyer is paying in all cash, they will be required to have an appraisal contingency. The appraisal is the second sale. The appraisal must meet or exceed the contract price in order for the financing to go through. If the appraisal does not come in at or above the contract price, I always advise my sellers to fill out an appraisal questionnaire online whenever there is doubt. The questionnaire is detailed and will cover all the figures that go into your home’s price. We will then send this over to the appraiser.

So remember, the sale of your home is not complete when you come to terms. It also has to pass the appraisal test and if it doesn’t, the deal will fall apart. If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you!

How we helped Melissa Mayer remain calm during the selling process

“Anant was very helpful in helping me get my condo sold so I could move out of the city and get on to the next chapter of my life. So I was very happy to have completed that. I think for this transaction there was a little bit more back and forth anticipated between the sellers, the attorneys and my attorney and he did a fantastic job of keeping me apprised of what was going on and letting me know what it meant, what was significant and what was not significant. So I kept my wits about me during the course of the final stages. So he basically helped me keep my sanity.”

-Melissa Mayer, Home Seller

Tips for Holiday Decorating on a Budget

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

The holidays are approaching. Today, we thought we'd do something a little different and share this festive video on holiday decorating tips from HGTV. Designer Angelo Surmelis shares several great ideas to spread holiday cheer throughout the home. Here are some of our favorites.

1. Pay attention to the mantle. If you don't have some already, buy some kind of garland to drape over the mantle. Next, use leftover ornaments and candles to add light and texture. When choosing ornaments and candles, ensure they are in the same color-palette. This helps make your mantle a great focal point!
2. Use smaller Christmas trees. Every house has their main Christmas tree. In addition, you can also purchase smaller, inexpensive, eco-friendly trees to place throughout the home. Decorate these trees with strips of fabric from a T-shirt in holiday colors to save money for the main tree.
3. Use what you have. Be resourceful. Adding a plate charge and place mat to your everyday dining set adds some jazz to your table. Fresh-cut flowers and candles will help finish the look. You don't need grand, expensive candles -- a little candlelight goes a long way!

As you can see, it doesn't take much to make your home feel more festive. If you have any questions, give us a call or send us an email. We would be happy to help you!

How we helped Damon Caliendo sell his home during the holidays.

"The results I got were a lot better considering the time of the sale.  We put the house up for sale a week before Christmas and Anant was sure to let us know ahead of time that we were selling at a slow period.  For when we sold, everything was on point, or better than expected.  I haven't sold a house in years and was not sure what exactly to expect, especially selling in the dead of winter.  It went smoothly, both my brother and I were very pleased from start to finish.  Anant was very precise and direct with his emails.  Everything was said and done to a tee!"

-Damon Caliendo, home seller

How Will New TRID Changes Affect Your Chicago Home Purchase?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today I have Rick Pantoga with me, my local mortgage lending expert here in Chicago. He's going to be explaining some important changes that the real estate market will be experiencing this year. He's been in the business for 29 years, so he's seen both the good and the bad.

On October 3rd of this year, the real estate market saw some big changes. What exactly happened?

It's because of the recent changes that came to the TILA-RESPA Integrated Disclosure (TRID), and this will affect everyone involved in real estate, from consumers to Realtors to lenders. The Consumer Financial Protection Bureau (CFPB) issued a final rule amending regulations the Truth in Lending Act as well as the Real Estate Settlement Procedures Act.

So, what does this mean for you? The TILA-RESPA rule consolidates four disclosures for closed and credit transactions secured by real property into two different forms.

One of these forms is a loan estimate that must be delivered or placed in the mail no later than the 3rd business day after receiving the consumer's application. A closing disclosure must be provided to the consumer at least three business days prior to consummation.

These new disclosures must be provided by a creditor or mortgage banker that receives an application from a consumer for a closed end credit transaction.

The TILA-RESPA rule includes some new restrictions on certain activity prior to consumers receiving the loan estimate. These restrictions include imposing fees on a consumer before the consumer has received the loan estimate, or requiring submission of documents verifying information related to the consumer's application before providing the loan estimate.

Please don't hesitate to contact us with any questions about this issue. We understand that it may seem a little confusing or overwhelming. We would be happy to clear up any misconceptions that you may have!

What's the Secret to Selling Homes in Chicago?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today I want to talk about the importance of staging your home when you sell it in Chicago. It's a very easy way to maximize your sale price in Chicago.

I had a 3 bedroom duplex property in Humboldt Park, and the owner paid $1,500 to have it staged. This included consultation and the design elements such as the furniture. This particular client was even staying there while it was staged, and he said that the stagers were very courteous and stayed out of the way as much as possible.

As you can see, the staging really makes the unit pop, and the buyers commented on the design elements. This leads me to believe that it played a significant role in their decision to purchase the property.

So, what was the return on the investment?

Well, a similar duplex nearby sold for $335,000, but my client's apartment managed to sell for $362,500. That's a difference of nearly $28,000. My property sold for 94% of the list price.

My client spent $1,500 and got $28,000 back. I'd say that's an investment worth making!

If you want to get the listing or staging process started, please don't hesitate to contact me! I know a wonderful stager and would be happy to put you in contact.

I look forward to speaking with you!

How Do We Go Above and Beyond to Get Your Chicagoland Home Sold?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today, I want to share a quick marketing tip with you to help you attract attention to your home when selling. There are many strategies we can utilize to get your home the broadest possible audience, but today we want to focus on the 10 tips for marketing your home before listing it on the MLS!

• Send out "Coming to the Market" postcards: Send out cards with great photos of your home with some basic details about it. On the back of the card, put copy on it explaining some of the great features of the home.
• Facebook: Everybody has a Facebook account, so this is an easy way to make technology work for you! It will help you reach an audience who may not be able to be reached through traditional print ads. You can create a custom audience to market directly to people who would be interested in your home!
• offMLS Ads: This is a great new tool that is an agent-only online portal where unlisted homes are advertised. There are about 600 agents in the Chicago area using this website, so it's a good way to get your home a whole lot of exposure.
• InTouch: This is an in-house portal here at Berkshire Hathaway that hosts listings with all the details of your home and makes it easily accessible for other agents within Berkshire Hathaway.
• ReaLync: I've recently partnered with this fantastic website to provide clients with virtual home tours and host virtual open houses for buyers interested in your home.
• Email marketing: We send listing information to more than 8,000 people in the Chicago area. We will send a video Ecard with your listing to this database to generate interest.
• Video blog: Close to 800 people subscribe to my video blog - based on availability, I would use this resource as another means to plug your listing!
• Virtual open house: This is a great way to build buzz. You need to merge a traditional open house with new, cutting-edge technology to get the best results.
• 3D renderings: This is an option we're very excited about. Don't hesitate to reach out to me about the potential for 3D photographs of your home!
• Email plugs: Twice a month, I send out emails that include exclusive listings!

Note: written permission is required to market your home Pre-MLS. This is known as the exemption period. I just want to properly disclose that this specific marketing requires written permission for homeowner. 

If you have any questions about the techniques we use to get your home sold fast and for top dollar, don't hesitate to give us a call or shoot us an email. We would love to hear from you!

How we helped Larry by finding him the home he wanted quickly

"The results were that we got a new home! He did a number of things online in lining up various properties until we made up our mind.  Anant came down and spent most of the day going through the properties with us and we told him exactly what we were looking for.  He led us to this property and helped take care of everything from there!"

-Larry Davis, home buyer

How we helped Rob by never wasting his time

"He did a great job of showing me properties. He always made sure that the properties we saw were types of things that I liked so we maximized my time. He was very good at determining up front whether it was worth my time to see a particular property."

-Rob Fick, home buyer

The Benefits of Owning Over Renting

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today, we'll discuss buying versus renting. There are three main points that I want to make about buying and renting in Chicago's current market.

The first thing to consider is rental affordability. A recent Zillow survey published in Crain's magazine revealed that in Chicago, renters typically pay 31% of their total income, while homeowners pay 14% of total income. Rental demand is skyrocketing, but percentage-wise, the monthly payments are considerably higher than mortgage payments.

Next, think of real estate as a financially leveraged instrument. That means that for a relatively small down payment, you acquire a very large asset when you buy a home. You do not need to put 20% down on a home; we will work with you to come up with a manageable down payment, such as 5% or 10%.

Finally, whether you're renting or buying, you are paying a mortgage anyway. Renters pay the mortgage by paying a landlord. If you're going to pay a mortgage, it might as well be your own. That way, you can build wealth and reap the tax benefits.

As you can see, there is an advantage to owning a home here in Chicago. If you have any questions on today's video, give me a call or send me an email. I would be happy to help you!

How we helped Dr. Eappen by getting the necessary repairs done prior to his home sale

"Anant was very helpful finding tradesmen to do the minor repairs on the condo before we put it on the market. I am far away from the property so he would go and let the contractors inside in order to do the work. These things were very helpful to me since he was right there in the city."

- Dr. Eappen, home seller

Three Things to Know about Real Estate in Chicago

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

I have a couple of different things to speak about, because there is a lot going on with the real estate market in Chicago right now.

First of all, inventory is very low, and this is causing multiple offer situations to occur more frequently. This is subsequently raising home prices, so if you're looking to sell, now is a great time to do so.

As far as median home prices go, we're currently sitting at $305,000 for the Chicago area (through June 2015). This is good news because prices have been increasing very nicely in the last few years. If you'd like a more detailed price report for your neighborhood, please don't hesitate to contact me. I can provide one for you.

Finally, closed sales in Chicago have risen dramatically since 2013. This is simply because supply is low and demand is high. Part of this may be the fact that interest rates are still very low, which is causing buyers to purchase now when affordability is high.


If you have any further questions about this report, or if you'd like to buy or sell in the Chicago area, please don't hesitate to contact me!