We’ve put together this comprehensive guide to help you sell Lake Barrington Shores homes fast. Together we’ll explore pricing strategies, preparing your home before listing and before each showing, choosing the best real estate agent to hire, and if you choose how to sell by owner but the problems you may encounter doing so. If you want a quick home estimate to find out how much your home might sell for in today’s market, use our instant home value calculator, but please remember, the best valuation will always be given by a REALTOR® after a visit to your home. You can call Corinne at 847-363-3686 for a REALTOR® valuation as soon as you are ready to go to market.
Pricing Your Real Estate to Sell Quickly
Jump Forward To:
- Pricing Your Real Estate to Sell Quickly
- Top Articles to Help You Sell a House in Lake Barrington Shores
- The Right Selling Price Affects Your Bottom Line
- Home Preparation To Sell Fast
- When is the Best Time to Sell a House Fast
- Should I Get a Home Inspection?
- Should I Get an Appraisal?
- What Do I Do At Showings Time?
- I Want To Sell For Sale By Owner
- How To Choose the Best Real Estate Agent
Homeowners sell for a variety of reasons. Whether you are moving south to the sun year round, need a bigger home, or a smaller one, getting divorced, getting married, or for financial reasons, all play a part in your pricing strategy. Most people like to sell for the highest dollar possible so equity can be used for the next purchase. But the highest value is not always possible, so we need to consider your situation, timeframe and property condition before establishing your marketing price.
Property condition will significantly impact your ability to get top dollar. Buyers want new, new, new. So an upgraded unit with a new kitchen, new bathrooms, new or re-finished hardwood floors, replacement windows and doors, finished basement, new furnace and AC unit, new water tank, and an open floor plan will greatly improve your chance to sell for top dollar. Location in Lake Barrington Shores will factor in as well. There’s no doubt buyers love the waterfront homes. Those will sell for a higher value than golf location or forest location.
Sellers need to be objective though. If it was new 5 years ago, it’s not new now. Homes that have all of this, yes you can expect to get top dollar maybe even beat the last sale. If you have not we need to be realistic about your asking price. The market, which is the buyers, will let you know if you’ve priced too high. You’ll be rejected. So the emotion must be taken away, I know that’s difficult, and the business head put on; set a realistic price based on your situation and property condition and you will sell.
Top Articles to Help You Sell a House in Lake Barrington Shores
|How Much Will It Cost To Sell?||How to Sell Your House Fast.||Selling Your Home When You Have Tenants.|
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The Right Selling Price Affects Your Bottom Line
Pricing your home right from day 1 is the solution to a fast sale. A fast sale in today’s market is something well under the average. At the time of writing the average marketing times for all Lake Barrington Shores homes, condos and townhomes, is 109 days. The 1-2 bedroom units are selling fastest at 71 days. 4 bedroom units selling in 158 days. Selling fast means about half those times.
When selling your home, the first month should see most of the buyers come through. They are in the market already and have not found what they like. After that it will slow down to only newly active buyers. So the goal is to sell in that first month. the only way to ensure it, price it right from day 1. Otherwise you’ll end up making price cuts and actually receiving less than had you priced it right to begin with. That means lost money!
An experienced REALTOR® is able to give you a professional valuation, based on:
- Recent sales
- Market conditions
- Condition of your home
- Repairs or improvements
- Time frame
It’s always best to choose a REALTOR® actively selling in this gated community as we know how it’s different to other homes in Barrington.
If you choose the wrong real estate agent, you’ll pay the price. We need to price your home to sell or this could happen:
- Limited buyers will view, either because they think it’s over-priced or because you priced it higher than they can afford.
- Other REALTORS® will not bring their buyers, they’ll pre screen you based on your high price, and discard you.
- You’ll sit on the market longer than necessary, creating frustration, tension, anger, disappointment.
- When you eventually sell, it will be for less than it could have been.
- Your property may get a buyer only to fail the lender’s appraisal. Lost buyer!
This list is proven. We’ve seen it over and over.
Home Preparation To Sell Fast
There are things every seller can do to achieve a fast sale. Yes much has cost involved but it’s all about putting your best foot forward. A professional real estate agent, one with years of experience understand and knows how to guide you in your preparation. Your goal is to update and improve but not renovate. A budget of $2-3,000 may make the difference between an offer in short time versus lingering for months.
Lake Barrington Shores HOA takes care of the exterior but it’s worth taking a quick look outside. I recently sold a unit that had a rotting board. A quick call to LBS got a work order requested to take of it. Remember that you are responsible for your decks, patios, courtyards and balconies. If these are in poor shape, replace or repair before you list. The exterior is still the first thing any buyer will see and take note of.
What’s Your Color Scheme?
The exterior colors of Lake Barrington Shores homes are taken care of by the associations. The interior colors are the owners choice. The colors you have on the inside can affect the speed at which you get an offer. Buyers want to see a home that is pleasing on the eye. Loud pink bedrooms and green bathrooms, or worse yet wallpapered rooms can instantly turn a buyer against your property. They will affect your bottom line too.
If you really want top dollar and a fast sale, you need to get a professional REALTOR® through to tell you which rooms need painting. As far as wallpaper goes the patterns are so personal it’s better to just remove it all. Pattern styles age so fast.
We’re not advocating that you paint the entire house, although if your color scheme is very loud that will be recommended. Neutral colors are always the safest choice, boring though it may seem to you. Buyers feel relaxed in colors that are soft and blend into the natural surroundings. Together we’ll look at every room and identify which need painting. Any room with neon colors, orange, green, bright yellow, pink and colors like deep dark blue, purple or black have got to go.
Consider neutral warm colors like taupe, gray, cream. You can break up the boredom with a splash of color on a feature wall. Different rooms can handle different palettes too. Lake Barrington Shores homes typically have open dining rooms and living rooms so your color for one must be the same as the other.
Finally ceilings. White, white, white. And clean.
Buyers may end up re-painting but that’s not your concern. We are concerned here about getting you a fast sale; wallpaper removal and painting can help with that, guaranteed!
Critique Your Carpets and Consider Flooring Options
Selling a home is hard work. Getting top dollar means you need to offer top condition. One of the most expensive whole house changes is flooring. Critique the carpets. When showing signs of wear, they are going to need replacing. Worn hardwood floors they may need re-finishing. The rule here is not to downgrade your finishes. For example if you have hardwoods in the living room, re-finish it or replace rather than switch out for carpet. If you downgrade your value declines.
If you need to replace carpets go back to the color rules for the paint palette, pick neutral. If they are just grubby get them professionally cleaned. If you have old old vinyl flooring in the kitchen upgrade it to ceramic. (If you are in a second level condo, we understand the HOA insists on carpet, this is one that needs cleaning regardless.)
Just remember that when a buyer walks through your home, clean, new, upgraded all mean attraction and ultimately speed and dollar signs. Buyers love well cared for homes and the best impression is what we want to give them.
Kitchens and Bathrooms Sell Houses Fast
The reason is simple. Cost. It costs a lot of money to renovate a kitchen and bathrooms. So if this is already done, a buyer will jump. It’s how to win the competition. Lake Barrington Shores homes can be over 40 years old now. (There are some only 20 years old.) Any home that old with an original kitchen or bathrooms looks old, tired and will not be at the top of the list for any buyer, unless the price is a steal. The choice is yours. Sell very low or replace to get a fast sale.
The kitchen is the place to start and fortunately they are not huge so the cost is not as high as a large single family home. New cabinets may be needed, laminate counter tops are cheap and buyers want quartz or granite. Stainless steel appliances or the new black stainless steel are the most sought after. If you are going to do the job, do it right.
Bathrooms may need a complete redo but you may just need new vanity’s, perhaps new toilets. Bath tubs can be refinished rather than replaced. The biggest issue with the older units is the bathroom vanity and sinks are very low. Times have changed and apparently we have grown taller. Choose higher cabinetry units and the same goes for replacing toilets. Choose elongated bowls and the taller units. Bathrooms are a little simpler to achieve, many vanity units come with built in sinks, even marble or granite tops with sinks ready to go. Start with the Master Bathroom.
Your budget may be gobbled up with kitchen and bathroom upgrades, so ask your REALTOR® what to focus on with your funds. Just remember, upgrades = fast sale.
OK so I hear you cringing at the thought. Yes your kitchen may well be functional, fit for the purpose, but an old kitchen is not desireable and screams lack of maintenance. The same is true of bathrooms. Your home can quickly be classed as a fixer upper. That won’t achieve a fast sale unless you sell as such.
Minor Repairs and Alterations
Now we have address the larger items we can get to the things that won’t cost as much but should be done before that first showing. Why? Poorly maintained homes lead all buyers to wonder what else is wrong.
- If you fixed the water leak but did not paint the stain, do it now.
- Dripping faucets are usually a quick fix.
- If you have door handles missing replace them now.
- Electrically switch plates missing should be replaced.
- Make sure all your lightbulbs are working, interior and on the porch.
- Broken blinds, either replace them or fix them, or take them off and plug the holes.
That’s just a small example of what might need doing. You may not even see some of these items. When we live with things the way they are for so long, we blank them out. So you and I will tour your home and we’ll be pointing out things for your final punch list.
Staging Tips – Lake Barrington Shores Homes Can Sell For More Money Fast
Yes it is possible to do both. The Barrington area real estate market has improved. Since 2013 sales have been steadily climbing and we are seeing price improvements too. Many of us are back in positive equity again and sellers are ready to move up the ladder or move on with their plans. That said selling any home places you in a competition. You need to be better than the rest. While your model may be different, because there are 70 different models; your competition is usually other units with the same bedroom count, or other units by the main lake, or other ranch units.
Let’s look at all you can do to present your home for quick offers. We need to highlight the benefits, downplay the any undesirable features and appeal to the buyer’s emotions. Here’s some tips to get will make your home attractive and appealing to the buyers that come to view.
Get Rid of Clutter
Every room should have no more than the appropriate furniture. Too much will make rooms appear too small. All your belongings should be packed away in closets, storage bins and if needed a storage unit off site. Do not use your basement as overflow and do not make your garage a storage unit. Have a garage sale or put unwanted items up for sale. Each room must be furnished for it’s intended use.
Remove Personal Items
Personal photos should be removed as well as those very personal items, heirlooms or collections. We want buyers to think of it as their home not as yours. Let’s clear the way for them to start their memories rather than living yours.
Shiny and Clean, No Spotless!
Your home needs to be spotless for every showing. Have a deep clean before listing and make sure you keep on top of it. If you have carpet stains have them professionally cleaned. Pets are wonderful but they leave odors. You might need to have your upholstery cleaned to remove smells. Beds must be made daily, spider webs need to come down, fans and window blinds get dusty. Don’t forget your closets. Tidy them, clean them out if needed and check for water leaks in bathrooms and the kitchen. Buyers will find anything to take money off the asking price.
A cleaning service can help you with your deep clean and keep your home in top shape while on the market. They can follow up with a move out clean if you leave before selling or to impress your buyers so that’s not the first thing they need to do after closing.
Lake Barrington Shores Homes Curb Appeal Ideas
With the association taking care of the landscaping and community color scheme, what can a seller do to make things look bright and welcoming. We cannot wow them with a brighter scheme but we can add potted plants and hanging baskets in spring and summer. Remove cars from your drive for visits and put away any kids toys and bikes. Make sure your trash cans are in the garage and close that door. Leave the porch light on for late time showings.
What About Vacant Homes?
I am often asked about whether or not to formally stage a vacant home. It’s not cheap and will it add to your top dollar sale? My answer is I don’t think it absolutely necessary. Vacant homes in Lake Barrington Shores can give the feeling of a bigger space. As long as you have dealt with all the other things to sell fast, staging is not necessary. I have frequently sold vacant homes in Lake Barrington Shores that were not staged.
When is the Best Time to Sell a House Fast
Spring, Summer, Autumn, Winter – Yes we have more inventory come to market in spring and summer. Being in a state that throws all sorts of weather variations at us tends to drive selling activity in the easier months. But if it’s your time, don’t ever feel you must comply and only list your home in spring. Do it when it’s right for you. It’s not like we have no buyers in winter. In fact the last two winters have been busier than many before. Homes in Lake Barrington Shores sell year round. In the colder months sellers have less competition to sell against but there will be fewer buyers. In the end it evens itself out. Do not be afraid of selling in winter!
The Right Time is Your Time
Everyone has a reason to move. If you are tight for space and cannot deal with your cramped quarters, then it’s time. If the kids have left and the bedrooms are not used, it maybe time. Divorces, relocations, financial constraints, all can make it time to sell. Maybe you are done with stairs and want a single level ranch. Whatever the reason it’s a process that is never easy but may be necessary.
Never put off until tomorrow what you can and maybe need to do today! It’s a well known adage and a good one. If you stop and wait hoping for improvement in pricing, or real estate taxes to come down (I wish!) you’re likely going to be disappointed. None of us have a crystal ball and should not base life decisions, like buying and selling real estate, on something we have no control over.
Historically in the Barrington area condos and townhomes only rose in value by about 2% each year. Then along came a crash and it’s all wiped out. It can always happen again. If the time is right now, the time is right now. Just follow the plan and we’ll still sell your home fast, no matter the weather.
Should I Worry About Interest Rates?
Our economy is changing, but it changes all the time. Interest rates go up, they come down. It’s very changeable but right now, in 2017, we still have very low mortgage interest rates. I remember a time when the rate was 15% or more, yet people still bought and sold homes. Lake Barrington Shores homes appeal to downsizing families, snowbirds, cash buyers and many others. Do not worry about the interest rates. Homes will always sell even when the economy was bad, we still sold homes.
Do I Worry About Too Many Listed Homes?
I understand you might be concerned if there seems a lot of other condos or townhomes for sale but Lake Barrington Shores has something no other Barrington location has. Because of that it is a magnet for buyers looking for the lifestyle offered. Nowhere else can buyers find the gated community of condos and townhomes, the waterfront, the golf course, the walking paths, the clubhouse, the swimming pools, nowhere in 60010 has what we have! As there are 1317 units in your community and there’s usually around 60 for sale, it’s never saturated, never.
What If My Neighbor Recently Sold Low?
First your neighbor likely does not have exactly the same home as you. Even if he did have the same model the interior will be a different level of finish. That said low sales can have an effect. The good news is that if your buyer needs or wants an appraisal for a mortgage or for peace of mind, appraisers always use more than one comparable home. As REALTORS® we try to find at least three comparable homes in Lake Barrington Shores only, to establish a selling price and often find more. The high sales and the low often get ignored to allow for fire sales or distressed sales like foreclosures and short sales. Appraisers do the same.
We can also get an idea of what’s listed and what’s under contract that is like yours to make sure we don’t over-price.
Should I Get a Home Inspection?
Inspections come with many names. The usual is the regular home inspection. Then there’s Radon testing, lead based paint testing and mold testing.
If you want to sell fast then yes I do recommend this. You are going to find out what’s needed before you let buyers walk through the property. It will give you the opportunity to fix as much as you can. Buyers are not supposed to expect a seller to fix everything but it will help the contract move smoothly forward if nothing comes up on a buyer’s inspection. It’s a selling point too. Let all buyers know you had an inspection and took care of everything.
This will not stop a buyer getting his own, and inspections can be a little subjective. However there should be no more big surprises. Commonly we see plumbing issues, electrical issues, hot water tanks need replacing and HVAC need replacing. Lake Barrington Shores is all electric but some homes still have original units. Buyers do not want to buy units that have short life expectancy on mechanicals.
A home inspector will look at the outside of your unit, even though the HOA has the responsibility of maintaining it. You may be surprised how often they find issues. This is the perfect way to get that work order in and taken care of before you sell.
Unless you have a Radon System or had the test when you bought the property, you have no idea if Radon is present above the recommended levels. Test for lake Barrington Shores run around $200. To sell fast this is another test I say yes for a seller to do. If the levels are high you’re going to need a mitigation system which will run around $1200-$1500. Pro-active sellers than can show this is all done will sway any buyer to say yes. It’s a load of their mind!
Lead Based Paint Testing
If your unit was built after 1978 this is something you do NOT need to worry about. It is only applicable to homes built prior to 1978. Lead based paint was used mostly on window sills, window frames, door frames. Lead is a carcinogenic. It chips easily making it ideal for little toddlers especially who crawl along the floor and eat those tasty treats.
Whether lead based paint exists or not in your home can only be determined by testing but I would not suggest this is something you need do. If a buyer is that concerned they need to have this test done themselves.
Again, similar to lead paint, I do not recommend this for a fast sale. In fact Mold disclosures are no longer a requirement of listing a home for sale.
Pre-inspections are great for potential buyers that need an FHA insured mortgage. The conditions to pass appraisal are much tougher for FHA loans. An inspection will highlight any problems and if you repair those, you should be in good condition to pass an FHA appraisal.
Should I Get an Appraisal?
No.This serves no purpose to you other than pricing your home correctly for a market approved sale price. Any professional and experienced REALTOR® in Barrington should give you the information you need to make a pricing decision than will pass appraisal. If you choose to ignore the advice don’t be surprised if the real estate agent refuses to list your property.
Your property must sell three times:
- First to the buyer that wants to buy it.
- Then the buyer’s agent who will verify whether the asking price and your offer price will pass appraisal.
- Then the appraisal itself. Note that sometimes cash buyers will also pay for an appraisal to make sure they are not overpaying for your home.
An appraisal for a mortgage is for the lenders purpose to make sure your property is valued correctly to support the mortgage and for FHA passes all the lenders requirements. This is a buyers expense and something you just need not do.
What Do I Do At Showings Time?
The fastest way to a fast sale is to make sure every request for a showing is approved. You may only get short notice and be prepared to get out. If you have pets, either take them with you or put them in their crates out of the way.
Lockboxes & Access
As local REALTORS® we use digital lockboxes to make access for showing homes simple. It prevents codes being given to anyone and REALTORS® must attend to open up the box to get the key. It will be placed either on your front door, garage door or other secure location. If you have a screen door on the access door make sure you unlock it every day.
Lock boxes like this enable us to keep track of who is going in the home and when.
Pets Create a Problem
We all love our pets. I have a dog and 3 cats. That’s a lot of pets from both showing agents and buyers to deal with. We do our best to make sure they do not escape but it is not our responsibility. They are your pets, take ownership of potential problems and create a working plan for yourself. That may be removing them while you are for sale, taking them out for each showing, or even waiting to sell until after you have moved out.
Dogs can easily be crated but please remember kids and little fingers tends to want to pet. So if pooch is likely to bite or nibble, put a sign on the crate so those little fingers are told not to poke by parents. Cats can be crated but they are usually left to roam in your house. Cats can also attack. Understand your cats and dogs and how they will react to strangers in the house.
Do you have cats that throw up those lovely hairballs on carpet, furniture, your bed? As much as possible be sure you’ve cleared it before your showing. Any other pet accidents? Dogs and cats and other pets have odours that permeate the house. Understand it’s going to be a faster sale if they are permanently out and the property has been cleaned of it. With 4 pets I know they have a tendency to disappoint us at times, be aware, make your plan. Your fast sale is dependent on it.
I Want To Sell For Sale By Owner
That’s your right and choice but before you decide to do that, consider the following hindrances that will stop you from selling fast:
- Most buyers work with REALTORS® because of the service provided, guidance, contract writing, and other help.
- Properties in the marketplace actually include the commission charges, so you won’t necessarily save anything at all.
- Buyers will not be able to drive by and take a look.
- You likely will not get any marketing exposure and what you do won’t be free. You’ll need to learn how and where.
- FSBO sellers get receive no help on writing contracts, you may not even have a contract that can be used, nor will you have access to disclosure forms required by law, or know which ones.
- You are responsible for dealing with showing requests and how to let those buyers in.
- You’ve got to assess your buyers for financial ability without breaking fair housing laws.
- You may not be able to determine the right price.
- You won’t be appearing on this website! That’s missing an awful lot of people interested in Lake Barrington Shores. (30,000+ to date).
As you can see it may not be in your best interests to sell by owner. Certainly not if you want to sell fast.
How To Choose the Best Real Estate Agent
There are many real estate agents that live in Lake Barrington Shores, I am not one of them. But I do live in Lake Barrington, work in the Barrington area and have been selling Lake Barrington Shores homes for years.
As our name suggests, Barrington Realty Company, we focus on selling all types of homes in Barrington, including condos, coach house and town houses in your community.
This article is just one of many we write to help home sellers in LBS. This website is the top visited online marketing site for real estate agent listed condos and townhomes in Lake Barrington Shores. You only have to search Google for a phrase connected to the community and you’ll find this website over and over at the top. It’s how we attract buyers for your home and why we sell. There’s no other real estate agent that does what we do to market your home. Where others have failed, we take over listings and sell them.
|How Much Will It Cost To Sell?||How to Sell Your House Fast.||Selling Your Home When You Have Tenants.|
The choice is yours, you can choose an agent that prices wrong, adds your home to the MLS, then sits back and wonders why it’s not selling. Or you can choose the real estate professional that gets pricing right from day one and sells where others fail.
We hope we’ve given you a good action plan to sell fast and for top dollar. If you would like help, that’s what we are here for. Just give Corinne Guest a call at 847-363-3686 or fill in our quick form below.