Page 62 - APRIL 2019 FOP MAGAZINE

A contribution from a Chicago Lodge 7 Magazine sponsor
A seller’s market: What it means for you
Have you ever found yourself wondering what a seller’s market is? Real estate jargon can seem complicated, but this term is fairly straight- forward. Simply put, a seller’s market means
that sellers have the upper hand.
Buyers also benefit from collaborating with the right broker. One small step that can help homebuyers gain an edge is getting preapproved for a mortgage before starting their search. Preapproval demonstrates what buyers can pay
for a home and that they are serious in their pursuit. Whether buying or selling, the best way to succeed in this market is to establish a strategy with your broker and stay focused. Sellers will need to put their best foot forward when it comes to home staging and preparation, and buyers will need to jump on new listings as soon as they see them. An experienced local broker understands the market and will know the best ways to help buyers and sellers remain
competitive.
Lisa Sanders of Dream Town has been selling real estate for more than a decade, averaging at least 50 homes per year. Her awards include Chicago Association of Realtors Top 1% Producer, Five Star Professional Award for exceptional client service, as well as being featured in Crain’s Chicago Business as one of the Most Notable Residential Realtors in Chicago. Lisa is also the No. 1 Re- altor in 60656 and a top-selling broker in 60631 and has helped many Chicago Police Department clients buy and sell homes throughout the city.
With more homebuyers on the market than available inventory, sellers are more likely to command higher sale prices for
Real Estate
LISA SANDERS
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Typically in a seller’s market, homes will:
• stay on the market for shorter periods of time,
• be listed at higher prices, and in some cases,
• sell for more than the original asking price.
Fueled by population growth, job growth and interest rates,
a seller’s market is an ideal time to consider selling your home and making a move. Chicago has been experiencing a seller’s market for the last few years, with an inventory shortage driv- ing a competitive market.
Not sure if now is the right time to sell? Partnering with a trusted real estate broker will help you make an informed de- cision.
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CHICAGO LODGE 7 ■ APRIL 2019 61