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Memorial Day in Champaign/Urbana IL

by Rose Price

Memorial Day weekend is officially the first weekend of summer and an important weekend to remember and honor those who have sacrificed so much for our freedom and safety.  Here in the Champaign/Urbana area there are many events taking place:

First off there are opening days for many of our beloved Parks & Pools!

Saturday's Events:

The Sholem Aquatic Center in Champaign are having Opening Day celebrations. Check schedule for times and events.

Urbana Aquatic Center- See Schedule for Opening Day events.

Prairie Farms has Opening Day which includes the petting zoo of all their farm animals.

Champaign Public Library is having their "Be Kind Illinois Craft" Day

                                                                                            

Monday, May 26th- Memorial Day:

10:00 am- American Legion Post 71 Memorial Day Ceremony at Eastlawn Burial Park- Urbana

11:00 am- American Legion Post 1492 Memorial Day Ceremony at The Memorial Wall- Savoy

12:00 pm- American Legion Post 559 Memorial Day Ceremony at Lincoln Memorial Garden on Lincoln.-Urbana

2:00 pm-  American Legion Post 24 Memorial Day Ceremony at Mount Hope Cemetery & Mausoleum.-Champaign.

I want to take this time to remember, honor and thank all our veterans, military and their families for their service and the sacrifices that have been made on behalf of our country.

Have a Happy & Safe Memorial Day.

 

Just as in any type of sales job, a home is never truly bought, or sold, until the money has changed hands and the keys have been given. You may have received an offer on your Champaign/Urbana IL home, and are fairly certain that the buyer possesses all the right credentials to allow the sale to go through smoothly, but there are still steps that you need to go through before the sale is final.

One of those critical steps is the....HOME INSPECTION of your Champaign/Urbana home. Now, unless your home is flawless, of which most are not, you will be in for some negotiations with the buyer. The best way to handle these types of negotiations is to have the best Real Estate Agent on your side. The agent who would have suggested that you had an inspection of your Champaign/Urbana home prior to the home being put on the market so that you could have taken care of these issues on the front end. However, if that wasn't the case here are my suggestions:

First, you need to be realistic and understand that every home is going to have some issue(s) that need to be fixed. So don't get stressed out, get in "fix it" mode and take care of what needs to be done.

As a realtor,  I don't like to see a buyer use the Home Inspection as a means to "renegotiate" the contract. Don't get me wrong, for the most part when a buyer is asking for a negotiation on something it is justified- damage on a roof, plumbing, foundation, etc. A Home Inspection is meant to protect the buyer against "major" problems, not to nitpick and try to get a seller to virtually give you a brand new home. Sellers, you need to rely on your Real Estate Agent for advice!

Inspection Credits versus Repairs

After the inspection is completed on your Champaign/Urbana IL home, and there are legitimate repairs that need to be completed, try to push for a closing cost credit or a price reduction. This would be the easiest for you, the Seller to do. Besides, you don't want to be in the position of having to do repairs and having the Buyer not satisfied with the repairs that are done and having to redo them or losing the sale!

Negotiating the Home Inspection Problems

Remember, you are not obligated to repair your Champaign/Urbana home before you sell it, but you MUST be up front and honest with the Buyer. One of the difficulties in going through the inspection process and then losing a buyer is now knowing EXACTLY what was found needing to be repaired and disclosing it to another potential buyer.   In this case, you must now learn the art of "haggling".  Nothing new, but you'll need to look at the list of repairs and decide which you are willing to make and which you aren't,  and negotiate it with the buyer in a way that will allow you to spend less money....but NOT LOSE YOUR BUYER!

The bottom line is to be prepared up front. Work with a professional Real Estate Agent who knows what needs to be done up front to avoid the pitfalls of the Home Inspection process. Once you've found that agent, put your trust in that person and listen and adhere to their advice.

For more tips on Selling and Buying homes in the Champaign/Urbana area please visit my website at www.champaignrose.com, or give me a call. I know the Champaign/Urbana area well after living and working here for the past two decades and can answer all your questions or help you get your home ready to be put on the market.

The Dangers of Overpricing Your Champaign/Urbana IL Home

by Rose Price

You want me to list my Champaign home for what?!?! 

I know, you've heard someone say this type of exclamation at least once, somewhere before.  Unfortunately,  sometimes the price that is given to a homeowner as the"listing price" for their home, is not what the homeowner had in mind.  Many times, a homeowner had a much higher number in mind because of the improvements, loving care and emotional attachment they have developed for the home over the years.  This is understandable, but it is also why you need an experienced, unbiased real estate professional to advise you on this important component of the selling of your home before you put your Champaign home on the market.  Pricing your Champaign home in today's housing market can be very tricky with so many variables to consider.  But it is the most important component and decision you WILL make once you have decided to put your Champaign home up for sale.  This is why your choice in a Real Estate Agent is critical Over pricing your Champaign home is dangerous for several reasons, but the biggest is the simplest....IT WON'T SELL! 

In addition to not selling when you've overpriced it, you've really stacked the deck against you from day one. Selling your home can be an emotional roller coaster.  What your home means to you and how you imagine it, needs to come to terms with the real world and the current real estate market...and that is no more apparent than in pricing.   Everything you are doing at this point is looking at the home to "list" and sell.  That may seem apparent, but it's much harder than it looks. You must take the emotional strings out of the way. You may cherish the color, flooring, or some other "prized possesion", but none of that matters, it's simply black and white.  You are looking at it objectively just to list and sell.                                                                                                                                                           

Just "because you paid a certain amount for your home", or because "it means so much to you", is a sure fire way to stall the successful sale of your property.  Buyers also aren't going to care if you "need to get a certain amount for your home in order to buy your new home".  All the new buyer cares about is paying a fair market value for your home and that there aren't any hidden surprises that are going to come up later in the home inspections. Nothing will blow up in your face quicker than an OVERPRICED PROPERTY!  

In fact, overpriced properties are at the top of the list of the reasons why homes do not sell!

You are free to list your home for any price you choose. However, any exceptional real estate agent will tell you that overpricing a home can lead to serious problems. Some of these include:

*Scare off Buyers- You don't want to miss out on an ideal buyer by pricing yourself out of their category. Rely on the expertise of your Real Estate agent and their knowledge of the local market so that you can maximize your exposure on the market and with buyers while still getting the best price for your home.

* Too much Time on The Market- When a home is priced too high it ends up spending far too much time on the market.  If a buyer decides to put an offer in on the propertythat offer takes into consideration the amount of time the property has been sitting idle on the market.  Therefore it has a negative effect on the property.

* Home Price Appraisal Issues- If you have overpriced your home, and a buyer has agreed to pay the "overpriced" price, you still have to pass the Home Appraisal. If the Home Appraiser comes back with a Market Value that is noticeably lower than the price the buyer is offering, the bank is likely to deny the buyer a mortgage.  Leaving you looking for new buyers.

Best advice....Stay realistic on the home pricing.  Seek out a great real estate agent and listen to his or her advice for pricing your home.  Many good agents will advise you to list a little lower and encourage a bidding war, than to risk all of the problems that would come with listing too high.  Stay realistic with your pricing and you will achieve your ultimate goal of selling your home;  in the shortest amount of time AND with the best possible price.

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