Property Market Letter
“Oh, wouldn’t it be loverly?…”
– Eliza Doolittle “My Fair Lady”
Wow! Barrington Country’s Q4 2014 property market dynamics, especially December, were astounding. The number of homes under contract in December was up 77.8% to 48 from 27 a year ago and the average price per square foot of homes sold in the Barrington area is up 22% year over year at $150/sqft vs $123/sqft. This tracks with the average price of homes sold up 21% for the same period. So, what does this mean? Prices are going up as is the number of homes for sale which is exactly what I mentioned in the last Property Market Letter; the market is getting stronger. Home buyers are hoping to take advantage of low interest rates before they increase and before property values increase as well. The Home Data Index is projecting that homes values will increase 5% on average in 2015 with the Midwest outpacing the rest of the country.
Market dynamics for Barrington Country are strong, and the average number of days a home has been for sale has decreased nearly 20%. If you’re thinking of putting your home on the market, get it listed soon, as our spring market started just after the Super Bowl. Make sure you choose a Broker who can help you differentiate your home and justify the unique value your home offers in this market. Remember that correctly pricing, properly presenting, and effectively promoting are the best ways to get your home in front of qualified buyers. Oh, and the first 4 or 5 showings are online so invest in great photography and excellent writing to convey the true essence of your home.
Stories are the best way to capture the essence of your home. Stories can reflect how lives were lived there and they can portray your home with feelings of positive energy that potential buyers hope and believe might transfer to them. Savvy brokers demonstrate the essence of your home to qualified buyers in your market range through web pages, video, quotes and photo albums that show how beloved your home has been over the years.
First steps, cold nights in front of the fire and junior prom. Birthday and Anniversary parties, when you first heard of college acceptance or of your child’s engagement. Show how the trees and landscaping have matured with your family and show how the seasons can be enjoyed: from the blossoms of spring to back yard camp outs. Many of the same reasons you originally bought your home will more than likely be the same reasons someone else will buy your home. Help them connect to their future through your memories.
Buying or selling a home is very personal and should be handled with the care it deserves while maintaining complete confidentiality and discretion. Many professionals forget the personal aspect, especially with the higher end homes where it’s “supposed to be all business.” It is still very important to get it right. It’s never perfect, but it must be right. Real Estate Brokers and other professionals can get caught up in the business of the “deal” through the justification of negotiating the best outcome for you, “the client.” Although in most instances that’s true, I have to apologize that we professionals in real estate (brokers, attorneys, appraisers, inspectors, etc.) sometimes lose sight of the fact that you don’t do this every day like we do. That’s why I use tools and resources to keep every client protected and informed where you would have quick and immediate access to every communication and why you will never feel abandoned during or after the process. That is why many of my clients have become lifelong friends.
Confidentiality trumps everything. Trust is paramount. Working with the right person can be a blessing even in tough situations just as working with the wrong person can make you feel miserable and violated. Character and integrity cannot be taught in a classroom. It is usually caught and attained through years of careful parenting and graceful guidance. Whomever you choose to represent you, don’t forget, they also become an extension of you. Strive for excellence, not perfection.
I wish all the best for you.
– CONNIE ANTONIOU
If you would like to discuss these details or your unique real estate needs you may call or text me at 847.508.7775 |or email