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Champaign/Urbana Summertime is Winding Down!

by Rose Price

I can’t believe July is over! Summer is winding down and students are getting ready to go back to school. For Champaign-Urbana, that means Campustown is getting ready to welcome back thousands of college students. Don’t worry though; you still have a few more weeks to enjoy the peaceful streets before the crowd comes in! So get out and explore the cute shops and restaurants downtown, while receiving the best deals in town.  There are only two weeks left of 13 Thursdays. Check out a list of the participating stores and restaurants below. 

13 Thursdays Participating Businesses                                              

If you are looking for a fun night with the family, be sure to head downtown on Friday night. The sidewalks along Main Street will be filled with color this weekend! Come on out for the 2nd Annual Friday Night Live Kids Sidewalk Chalk Contest. This free event is the perfect way for your kids to show off their art skills in the heart of the city. The contest starts at 6:30 PM in front of Big Grove Tavern.  

HAVE SOME FUN IN THE CITY WHILE THE SUMMER IS STILL VISITING OUR TOWN!

 

Champaign/Urbana IL Selling Tips For A Quicker Sale

by Rose Price

Making the choice to put your Champaign/Urbana IL home on the market means you've decided it's time to sell your home.  Sounds simple and accurate, right? Then it is important to do everything possible to achieve the goal of selling your home....and that sometimes means doing things that we may not think are necessary.  What do I mean by that?  Applying some tried and true tasks like these:

Here are some cheap and easy ways to get your home ready to put on the market that will help it show better....resulting in fewer days on the market, higher bids and an earlier sale.  Sound good?  

1. You need to pack away most of your personal items you have presented around your home.  Why?  Because your potential buyer needs to be able to view the home as "their possible home", not yours.  So grab some moving boxes, bubble wrap and packing tape and get to work.

2. GET RID OF THE CLUTTER!! I know you've heard it before, but I can't stress it enough. You have to get rid of all the clutter in your home, in every room;   basement and garage included.  Even if it means you rent a storage space while your house is up for sale, do whatever it takes to get it out of your home.  {I recommend going through all your items and having a yard sale to get rid of the things you truly do not need.}

3. Freshen Up!  One of the least expensive, high impact things you can do is paint a room!  It will give it a whole new vibe and a freshness that it needs for your buyers to really be drawn into the home.  Remember to use a neutral palette so that your potential buyers can put their own decorating panache into the home.

4. THE WHITE GLOVE TEST! This should go without saying...but too often still needs to be said, the house needs to be spotless! That means down on your hands and knees to scrub the floors, corners, and baseboards.  The walls and ceilings wiped down, closets, drawers, windows...everything!  And in the kitchen, your stove, refrigerator and all appliances need to be cleaned out and sparkling.  This will reflect in the amount a person will offer.....and it will be a negative effect if it isn't done.

5. Have a Professional Stager come through your home and set up each room to highlight it's best asset's.  The stager takes lighting, flow, color and more into their recommendations and will set up your home up accordingly.  Even you will be surprised at how your room/ home will look when they are done.

Like we said, these are simple things, but they make a world of difference to the "buyers" who will be coming through your door.  So make the most of each and every showing, so that you can sell your home in the shortest amount of time....for the most amount of money!

This week I'm going to tackle the age old question.....should I rent my home out, if it doesn't sell?  A recent study did show that 39% of sellers prefer to rent out their last residence than sell it when purchasing a new home. With many homeowners refinancing at a low rate, and the housing market struggling with low inventory, the amount you could charge for rentals has gone up. 

                                           

If you are a residential real estate investor, than this tactic makes sense.  However, if you really don't want to become a landlord and are only looking at it as a way to purchase your new home, while covering the mortgage on the original home...then you need to ask yourself these questions:

 1.)  How will you respond if your tenant says they can't afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).

2.) Because of the economy, many homeowners can no longer make their mortgage payment. What percent of tenants do you think can no longer afford to pay their rent?

3.) Have you interviewed a few experienced eviction attorneys in case a challenge does arise?

4.) Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?

5.) Will you allow pets? Cats? Dogs? How big a dog?

6.) How will you actually collect the rent? By mail? In person?

7.) Repairs are part of being a landlord. Who will take tenant calls when necessary repairs arise?

8.) Do you have a list of crafts people readily available to handle these repairs?

9.) How often will you do a physical inspection of the property?

10.) Will you alert your current neighbors that you are renting the house?

Once you have answered these questions, you will be in a good position to decide what is best for you and your family.  

(information courtesy of KCMBLOG)

Displaying blog entries 1-3 of 3

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