News & Articles

Found 115 blog entries about News & Articles.

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,

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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

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Interest rates keep going up on a day to day basis.  As I'm writing this, rates are above 4%.  We haven't seen that figure in a while!  

So before anyone panics, I'd like to go down memory lane to when I purchased my first house.  We were given a 10 year mortgage at 10.5% interest with a 20% down payment (the 3 bedroom, 1 bath single level home on a crawl in Evergreen Park cost $18,000).  We made it into a cute little dollhouse.  We didn't balk at 10.5% interest - those were the going rates.  But look at that low price!  In only about 3 years we sold it for $47,500 - those were the days.

I remember when the market went wild when rates fell to 8.5%.  It was definitely a seller's market at that time.  It was difficult for buyers to get their offer

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Here is an infographic of some real estate buyer and seller profiles of 2016 that I thought many people would find interesting.

orland park real estate buyers and sellers

Home Buyers

Age

Nothing really shocking to me about buyers.  It is interesting to see how the average age has changed since 1981.  I bought my first house in 1976 at the age of 22-23.  That house cost $18,000 and it didn't hit me at the time but instead of a 30 year mortgage we were given a 10 year mortgage!  We were happy with our 10.5% interest rate.  I still drive past that house whenever I'm in the area.

Marital Status

I normally work with married couples but I do get the singles.  In fact, I worked with a couple this past year (they never did buy, but that might be good) that had just started dating and I

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SOLD & CLOSED!

109 iliad tinley park townhouse for sale odyssey country club

109 iliad tinley park townhouse for sale odyssey golf course view

109 Iliad Dr, Tinley Park IL  60477

This is your chance to get the only currently available ranch style, one-level townhouse in Odyssey Country Club, a gated golf community in Tinley Park.  This end unit offers a spectacular view of the golf course from many windows in different areas of the townhouse.

There are 3 bedrooms (including the master suite with vaulted ceilings) and 2 bathrooms with a rough-in bath behind a wall in the huge finished basement.  Enter into the foyer with hardwood floors and you'll immediately see the vaulted ceiling in the living and dining rooms.  You'll also notice the big and beautiful built-in that offers a lot of storage and display space.  

The eat-in kitchen looks out over the golf course

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Below is an infographic from the National Association of Realtors®

generational real estate trends 2016 infographic

As a baby boomer I get confused on the generations that have followed me, so I'm going to list them:

  • The Lost Generation - born 1890-1915 - I don't remember this generation, but my grandparents were in it - both are gone
  • The Interbellum Generation - born 1901-1913 - I didn't realize generations could overlap
  • The Greatest Generation - 1910-1925 - more overlapping - my parents were in this one
  • The Silent Generation - 1923-1944 - my parents were also in this one
  • Baby Boomers - 1945-1964 - My husband and I are in this one
  • Generation X - 1961-1981 - My daughter & one son are in this generation
  • Generation Y - Millenials - Gen Next - 1975-1995 - more overlapping
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I just read an article online regarding 7 things can turn buyers off when viewing homes for sale.  Sometimes sellers don't want to believe their agents when they try to tactfully explain these things to a seller when taking their listing.  I'm going to review the 7 things in this article in my own words:

1.  Pets - I just showed an Orland Park home to buyers yesterday and no one mentioned the huge dog (looked like a mastiff) that was in a big cage in the empty dining room.  He mastiff dog in Orland Park home for saledidn't bark and barely moved, but this could have scared other agents and buyers right out of the house.  He was a formidable though gentle giant that surely was not a watchdog but for his imposing size.  There was also a rabbit in one of the upstairs bedrooms.  The good news is

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orland park homes for sale signI just read a similar article in Inman News (you need a subscription), so I decided to put my own spin on it.  Pricing is one of the most important factors in getting a home sold.  You'll hear location is #1, and that is also important, but homes sell all over - on busy streets, near train tracks, etc.  They sold because they were priced correctly for their negative locations.  Same goes for a home that needs a lot of work - if it's priced correctly for its current condition it will sell.


Setting Price Based on Active Listings vs. Sold Listings

I always have to remind sellers that appraisers put the appraised value based on listings that have already sold and closed within the last 3 months (preferred, although they will go back a bit farther if

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Please note, although I'm mentioning Orland Park real estate, this article covers all real estate in our Northern Illinois MLS (Multiple Listing Service). Our company is based in Orland Park and is our main village.  In fact, because I network with agents around the world, I've heard other agents stating the same thing.

Why Don't All Listings Have Square Footage Listed?

measuring orland park real estate for square footageUntil just a few years back, the square feet section in our MLS wasn't a required field, so most agents didn't bother with it.  It is now a required field but we can put in "0" if we're not sure what the true value is.  I will only post square footage if I have a prior appraisal, an original blueprint, it is listed in tax records or a folder/pamphlet from when the property was built.

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orland park real estate the judy orr team

Over the years we've attempted to send out newsletters to our clients, potential customers, friends, family and acquaintances. It would have been much easier if we had just used pre-made, "canned" real estate newsletters. But we would have rather sent nothing than send those kinds of newsletters that we've received from mortgage companies and other sources.

The first newsletters we sent were 100% customized by me from scratch using a newsletter template that would print on a legal sized sheet of paper and could be folded in half. Creating articles was hard enough, but trying to get them to fit on the template was very time consuming. Even moving on to better templates with larger sizes (we purchased a special printer that would print 11x17 sheets

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