Profile picture for janny54

when is the best time to put a house up for sale in Illinois

We are looking to downsize and move to Texas where our kids and grandkids are now.  With the market being so bad we will probably take a hit on our house but we just want to be by them.  So need to know when we should start listing the house here in northern Illinois?
  • January 09 2011 - McHenry
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Answers (13)

I would recommend that you list it sooner vs. later. But before you list the house make sure that the house is ready. Everything is in working order any minor deferred maintenance is completed. The large banks will be releasing alot of inventory soon. So you will have plenty of competition out thier in the spring. It is a buyers market right now and everyone is looking for a good deal. So in order to get top dollar your house needs to be spotless. Something to consider when selling your house is to offer a 2/1 buydown with a local lender. The buydown will allow you to offer below market financing on the house. The way that they buy down works is like this: IF going Rates are 5% the buyer rates would be 3% for the 1st year, 4% the second year and then 5% for years 3 thru 30.

Not sure if you are going to try FSBO or with an agent, but marketing will be a big key to getting your house sold.
  • February 09 2011
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I work in the Southwest suburbs of Chicago and I recommend to all potential sellers that now is the best time to get their home listed if they are planning to wait until spring because there will be an influx of foreclosures being released into the spring market that they will then have to compete with. Not to mention that mostly every other seller out there whose listing expired in November, December and January are all thinking exactly the same thing - wait until spring. I am active in the expired market and 9 out of 10 sellers with expired listings that I speak with tell me they plan to re-list their home in the spring!

My office is having tons of showing activity right now with our listings and I am personally working with more buyers than sellers. I think a lot of buyers are feeling the pressure of the interest rates being on the rise and are feeling the time crunch to buy now. Two weeks ago, I put in 3 offers for buyers and received an offer on one of my listings. Needless to say, it's not a stale market and I highly recommend beating the competition and getting your home listed now if you are planning to sell. Remember, the more homes that come on the market, the less valuable yours is to buyers!
  • February 02 2011
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Now that the Bears are done, I would start now. Spring is coming. buyings are looking at websites and want to see great pictures and prices that are attractive.
  • January 24 2011
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Profile picture for Alan May
that's going to vary depending specifically on your location... for example spencer in an earlier comment said Spring and Summer... but in my area, it's Spring and Fall (summer here is hideous).

Ask some local agents.
  • January 20 2011
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Profile picture for rockinblu
Somehow that sounds so familiar (check out my profile). The best time is the sooner the better. I wish we would've got off our butts, and got with the program 10 years ago. And you're absolutely right. There are things much more important than money.

BTW, if you,re doing a FSBO you might want to read this, and if you'll be using an agent, you might want to check this out.
  • January 20 2011
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I would say that this season has been busier than last so that is a good sign.  Still, real estate in Chicagoland is still seasonal and the end of February is a good time to start marketing the property or sometime soon thereafter. 

With that being said, the most important factor is still going to be price and how the home shows.  If you have any other questions or want any assistance, please feel free to contact me.  Good luck!
  • January 20 2011
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Get your house cleaned up, cleaned out and show ready.  Get a realtor who is serious about marketing the property for a realistic ask price, and list.  You will not get different sales prices based on timing...unless your house is in a development of identical homes.  Good luck!  Wouldn't we all like to be farther south just now!
  • January 20 2011
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Our market has had much activity even through the holidays.  I am working on a sale in Oakwood Hills and the listing agent is from McHenry...she was saying that the market has picked up for her.

There is normally more competition in the Spring market.

I would meet with a Realtor to get a better idea of recent activity in your area which will help you decide when to put your home on the market.

  • January 11 2011
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I agree more with Jim:  the best time is what is right for you. I would guess your community is like mine in that Spring and Summer will see more houses on the market and therefore more competition. There are people buying houses all throughout the year. To sell you house, you have to be a standout:  best price, best presentation (staging) and best marketing. The more competition there is, the more attractive your price will have to be to sell.
  • January 10 2011
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Although more sales take place in the spring and summer, there are buyers all year long.  I sold several the week before Christmas and if those homes were not yet on the market they obviously would not have been sold.

The best time to sell is when you want to sell.  Be sure you home is professionally staged (use a stager not a Realtor or designer), priced correctly and marketed extensively.

There is a great article called "How Sellers Should Choose a Real Estate Agent" and one I wrote called "Selling Your Home in the Winter" which I think you will find helpful.  You can find them in my profile (click my name) just below the testimonials.  The Winter article was written using data from the Cincinnati MLS, but it should be similiar to your area.

Good luck.
  • January 10 2011
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Statisics show that Feb has been the best month to put a home on the market. You should be ready to sell when that happens. Call or email an agent and get recommendations for insuring that your home is staged well and then price it compellingly. You will be with your family picking out western wear sooner than you thought.
  • January 09 2011
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Profile picture for billsole

We have worked with numerous clients on this question and it all seems centered on the same response, Spring.  We suggest if your looking to sell, to get the house in order prior to contacting your realty agency to assist you, then when you contact them, they can give suggestive help.  You can call one anytime as they would be more than happy to assist you in suggestions to help market your home, provide a comparable market analysis etc.  Our firm wishes you the best!

  • January 09 2011
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Traditionally, the 2 best times of the year to sell ar Spring & Summer. Avoid Fall and Winter, so maybe April would be a good time to list.
  • January 09 2011
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