Real Estate Blog

This is coming a little late but this is also the first time I've promoted our newsletter on our blog. Our newsletter always has a lot of interesting articles, some of which I'll provide feedback on in my monthly update.

September 2017 real estate newsletter from The Judy Orr Team

As you can see from the snippets above (click here to read the entire newsletter) we always feature a new or updated listing.  We actually featured 2 new listings but the 2nd one (not in the above screenshot) sold in a few days.  The Orland Park condo shown above is still available so contact me if you're interested.

Other Articles

>I had read about the new rules for passwords and have found it very helpful.  I'm starting to create different passwords based on this article.  

>There is also a post link from our blog called

108 Views, 0 Comments.

orland park condominium for sale 14121 Norwich LN, Orland Park IL  60467  

This is a great 2nd floor condo in a quiet, residential area of west Orland Park.  The building is well maintained inside and out and offers an elevator and Flexicore construction.

Step into the unit's foyer and you'll notice the new plank ceramic tile that extends into the kitchen and eating area.  The foyer has 2 separate closets for coats and extra storage.

The living and formal dining rooms are spacious and there are two sliding doors flanking the fireplace that lead out to the ample balcony - grilling is allowed. The kitchen is spacious and features stainless steel appliances and a pantry closet.  It opens to the foyer and the living room.

The master en suite features a walk-in closet and a

709 Views, 0 Comments.

orland park real estate assessed vs market value

Understanding a home’s true market value is about more than pictures, software assessments and price-per-square-foot. Whether you’re a current homeowner thinking of selling or are house-hunting, it’s crucial you understand what factors affect home valuation. By partnering with a local market expert, sellers will avoid pricing their house out of the market (the kiss of death in real estate) and buyers will ensure they get a good deal on their next home.

So, how do you accurately calculate a home’s value? After all, the value a home that is assessed by its town and county and the one it’s given when it’s listed are often dramatically different from one another. Which one is accurate and what does it all mean? Read on to learn more.  

Assessed Value

132 Views, 0 Comments.

orland park home buying powerIf you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” Many buyers become so caught up in how much they can afford that they don’t realize their total buying power—that is, the total amount of purchasing potential they actually have.

Buying Power Defined

Your buying power is comprised of the total amount of money you have available each month for a mortgage payment. This means the money you have each month after fixed bills and expenses. Any money you’ve saved for a down payment, the proceeds from the sale of your current home, if applicable, and the amount of money you’re qualified to borrow all impact your buying power as well. When you take all of this into account,

267 Views, 0 Comments.

This beautiful Orland Park 2-story home sold in one day to a cash buyer!  First and only showing - SOLD!

14001 Creek Crossing, orland park home for sale

This goes to show that an Orland Park home that is in great condition and priced correctly can sell quickly in today's market.  These sellers were going to get a mortgage for their next purchase but they didn't have to.  We were able to close on both homes on the same day.

This home offered 4 bedrooms plus 3 1/2 baths (a full bath in the master en suite plus a full bathroom in the finished basement).  There is a warm and inviting formal living room and a dining room.  The large kitchen featured plenty of cabinets and opened up to the spacious family room.  The four nice sized bedrooms were upstairs.  The finished basement had room for an

416 Views, 0 Comments.

You can usually spot new design trends by looking at new construction, especially new subdivision models.  Most builders keep themselves up-to-date with current decorating styles.  One builder I met said they will build one spec home using a cool tone (grey) and the next one with a warm tone (beige).

The current trends are all about utilizing rich color, maximizing texture and creating comfortable interiors you can’t wait to relax in. Use these trends to get inspired to makeover your home’s interiors and create spaces you love that also appeal to your personal style. Remember, if you plan to sell in the next few years, you may want to avoid doing anything dramatic and instead incorporate small changes that would appeal to buyers.  We plan on moving

393 Views, 0 Comments.

Great curb appeal not only makes your home the star of the neighborhood, it can also improve its value and help you sell it for more. Whether you’re thinking of listing your home or just want to make your home the envy of your neighbors, here are several ways to increase your home’s curb appeal.  Download a pdf here.

1. Make your home’s exterior look like new.

For many potential buyers, the condition of the exterior of a home can offer clues to the condition of the interior. The first place to start when boosting curb appeal is the exterior of your house.

Paint.  Paint is the best way to make your home appear newer. While you can paint your home yourself, if it’s large or more than one story, consider hiring a professional.   FHA financing,

417 Views, 0 Comments.

I read several years ago that we should only have our sellers sign disclosures that were mandated by law.  Required disclosures are our Property Disclosures mold disclosure form no longer needed in Illinois(Residential Real Property Disclosure Report), Lead Based Paint Disclosure for homes built prior to 1978  and the Radon Report.  Some lenders require the Lead Based Paint form for all homes, which I think is ridiculous as the form explicitly states that it is for properties built "prior to 1978", so I don't understand why some lenders don't accept the date as lead was removed from paint in 1978.  I do not have my sellers sign that one if their home was built after 1978.  If a buyer's lender requires it we can argue the fact or sign one at that point.

Some years back a Mold Disclosure was created

455 Views, 0 Comments.

2016 Real Estate Sales Statistics

I have included areas that are on my mailing list of friends, family and clients.  If your area isn't listed please mention it in the comments section below and I'll add it.  If you'd like to receive an instant home value click here.  Please note that although this home value provider is the most accurate I have used (and I've tried a few), a better market value could be received by filling out this form.  

  
 

# Of Homes Sold

Average Sales Price

 Area

2016

2015

% Change

2016

2015

% Change

 

Alsip

187

181

3.3%

$148,514

$138,626

7.1%

 

479 Views, 0 Comments.

It's always nice to see positive figures for annual Orland Park homes for sale comparing 2015 to 2016.  This year was a good one!

Orland Park real estate sales statistics 2016

The number of single family homes sold in Orland Park in 2016 increased by 13.4%

2015 - 486 homes were sold in Orland Park

2016 - 551 homes sold

More good news is that average sale prices increased by 3.1%

2015 - average sale price for homes in Orland Park was $324,145

2016 - average sale price was $334,081

More stats for Orland Park homes sold in 2016 

Average market time in 2016 was 100 days

Average sales price ratio to original list price was 94%

Average sales price ratio to most recent list price was 97%

We live and work in Orland Park so it is our main hub for real estate in the southwest

417 Views, 0 Comments.