What is a normal market?

A normal market is not selling your house in twenty-four hours. A normal market is not receiving multiple offers, resulting in a selling price significantly higher than your initial asking price.

And normal is not “flipping” a house as easy as one would a coin. Normal is choosing a reasonable asking price with the hopes of receiving a reasonable offer in a month or so.

So how does a normal market affect a seller entering these uncertain times in real estate?

Quite simply, all sellers have to consider the old rules of selling a home. This includes listing your home at a reasonable price (keeping in mind that what your neighbor may have sold his for last year is no longer relevant).

Additionally, you need to consider the appeal of your home. What needs to
be fixed, organized, or removed to make your home seem bigger, livable, and more up to date? Clear out the clutter, touch up the paint, and always remember the importance of curb appeal when making a first impression. Finally, sellers must also choose a realtor who understands how to market their home and provide both informed guidance and applicable ideas . This is a buyer’s market and so, sellers that realize this are pricing their homes accordingly and finding success.

A buyer’s approach to the market is also somewhat different than what we have seen in the last few years. The previous period saw buyers caught in bidding wars and rushing to see the newest home on the market only to find that it was already under contract in record time. In contrast, today’s buyer can actually view multiple listings, consider their options, and take time to make a decision. Most buyers find themselves actually enjoying the process of finding a home, a luxury that was not always afforded to previous buyers.

Ultimately, the housing market is a source of great speculation and intrigue, resulting in innumerable theories and predictions. Buyers and sellers find themselves overwhelmed by all the information online, where too many “experts” claim to know the ins and outs of the market. However, it is important to remember that the housing market is not a universal body and that your position depends on both your area and your expectations. Though your home may not be worth double what you paid for it last year, it is by no means worth less and anyone entering the market should do so with the right price, the right realtor, and the right perspective. Choosing the Frumentino Team for your real estate needs means that you are choosing a team that will offer years of experience, informed guidance, and an understanding of the North Shore market that is simply second to none.

Honore continues to be recognized as an Industry Leader and has been quoted by publications such as, The Chicago Tribune, Wall Street Journal, Crain's Chicago Business and Chicago Magazine.