All Blog Entries by arhome realty

Found 24 blog entries published by arhome realty.

It's no surprise that the year-long shift to staying at home has changed the things that homeowners value in their houses. What today's buyers are looking to upgrade as they shop for a new home has really changed because of this, and has changed which homes get swept up sooner when they hit the market. So if you're looking to put some new life into your home, see below for today's top investments (which you won't regret whether you sell or stay!).

#1: Outdoor Spaces

Outdoor spaces has been one of the biggest motivators for post-pandemic homebuyers. According to a recent survey by HomeLight, a referral service which surveyed over a thousand of agents across the nation, by far the number one desired upgrade were fire pits. Next came…

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couch and table with cactus plant on it and a palm tree plant in the backround and an ar symbol on the right

What separates the homes that sell, and the homes that just can't attract that dream sale price?

The hard truth, as seen by our own experts, is that home sellers often underestimate the importance of arranging and decorating their properties to attract buyers. You'd prefer the buyers just use their imagination. You don't like the recommended set up and it's just hard to live with. But the reality is that blocking the advice of your real estate staging professional for lack of motivation or a couple weeks of inconvenience can cost a home seller thousands of dollars that should've been in your pocket - and we have stories to prove it.

how one seller made $25,000 on a piece of furniture

Let’s give an example. Our recent clients in Glenview, IL…

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doormat on a wooden deck with the word home on in with a heart in the o and a person's feet in front of the mat and an ar symbol on the right

Why Millennials Will Take Over the 2021 Market

Experts are saying that Millennials could account for at least 15 million home sales over the next 10 years. 

Millennials – the bulk of which are turning 30 this year – are the largest and most educated generational group in history. There are about 72 million in the population as of 2019, and most are beginning to enter their prime home-buying years. 

A few things are making this even more possible despite rising prices. One is historically low mortgage rates. The main one, however, is a dramatic increase in personal savings, which reached to an all-time high at the April peak of the pandemic lockdowns and remain above the historical average as recreations spending opportunities are limited. For…

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These are the 3 Hottest Home Trends for 2021 According to Experts

bedroom decorated with bookshelves and art with bed lamps and plants
Jewel-toned colors are expected to be on trend.

Designers and Real Estate experts are weighing in on what will be in, and what buyers are bored of seeing, as we move in to 2021. Hint: it's going to be a lot different.

1. Color Trends

For a long time now, we've seen home colors shift from neutral beige to neutral grays, with white-and-gold combos making their way into the mix. Things are about to change in 2021: get ready for bolder colors.
Professional interior designers spoke to 1stDibs, a design marketplace, and announced that jewel tones and warm earth tones will be the hottest color trends of 2021, with an emphasis on cozier hues. This includes a special emphasis on…

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row od townhouses in Chicago with ar on the right

Cook County FHA Limits Increase Almost $12,000

Attention Buyers: Cook County FHA loan limits are set to go up almost $12,000 higher in 2021 than the 2020 limits.

The Federal Housing Administration (FHA) is increasing its 2021 single family house loan limit in Cook County, IL to $379,500, almost $12,000 higher than the 2020 limit of $368,000. The loan limit is based on the national conforming loan limit for Fannie Mae and Freddie Mac.

The purpose of FHA loans (loans backed by the Federal Housing Administration, which means you can get insurance-free loans with down payments as low as 3.5%) is to provide assistance to low-to-moderate income borrowers. Loan limits set the maximum amount of money a borrower can take out under the FHA program to…

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wintery Chicago skyline in the backgroud / ar

2021 Housing Market Outlook

2020 was the year of surprises. We saw an instant dip in the market when the virus news came to the US, only to turn around and witness one of the biggest booms in sales volume and prices in the last decade.

So what will 2021 hold? Are we headed for a crash, or will this keep going? Here's what experts are predicting.

Prices

Despite the price bubble being the highest we've seen in over 10 years, most economist are predicting continued increases that head towards stability. Realtor.com chief economist Danielle Hale says prices will rise another 5.7% above 2020’s already high numbers. CoreLogic deputy chief economist Selma Hepp confirms the continued home price appreciation. There is general agreement that rising…

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laptop showing an image of a woman speaking in a seminar titled MRED Rules + Listing Best Practices and peeople virtually leaving comments

how arhome is bringing the personal touch back to a tech-driven industry

2020 has been the year of going virtual, though we've been far from strangers to the digital world for a while now. With technology at the top of our wish lists, and the more cutting-edge the better, we're always looking for ways to streamline and digitize our work. But with that, the real estate industry has seen a side-effect in the streamlining and computerization of something else: personal relationships. 

What do we mean? On the back-end of things, real estate professionals are often impressed with computerized auto-responders to new clients; avoiding making real-life phone calls; believing it's the actual technology that will take them to the next level. But when…

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man and woman inside an empty house holding cardboard boxes / ar on the left

"While the health and economic impact has been significant, the U.S. housing market has remained surprisingly resilient, and consumers continue to view home ownership as the foundation of the American Dream. Home buyers remain steadfast in the main attributes they seek--three bedrooms, two bathrooms and a garage. However, the quarantine has made people rethink where and why they want a new home," says realtor.com® Senior Economist George Ratiu. 

The market is largely buyer-driven - if there is a demand, properties will sell. If no one wants to buy, the market will be slow. So let's see what current buyers are thinking and doing right now.

Here are the findings of the most recent, post-covid survey from realtor.com®.

How do buyers feel about…

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man and woman from the back embracing and looking at a house with a for sale sign in front of it which reads arhome realty 773.775.7700 arhomerealty.com / ar on the bottom right

Did you know? According to the most recent National Association of REALTORS® Profile of Home Buyers and Sellers study, Realtor®-listed homes have sold on average for 40% more money than For Sale By Owner homes.

How you go about selling your property can really impact how much money ends up in your pocket when all is said and done. Things like marketing price, time on the market, and staging can have a tremendous effect on how much you sell your property for.

For example: if you were to market your home at a too high price, you will likely not see a lot of activity because surrounding homes at similar price points will have better features and options. This will cause market time to run on the clock, and precious sale time to slip away. In the…

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kitchen with grey cabinets and white counters, plant in a gold vase on te counter / ar on the bottom right

In other words: How to get a higher price for your home. It's true - if your home stands out (in a good way), it attracts more buyers, gets more traffic, and that typically results in more interest, more offers and a higher end sale. It's important to make sure your home is truly ready for a home sale, to make the most of its market debut and get more buyers to fall in love with it. And while we generally don't recommend any major projects (exceptions abide - ask an arhome agent for the most profitable approach), the good news is there's a lot that you can control when it comes to making your home above-average. 

1. Maximize Curb Appeal

Curb appeal is one of those obvious checklist items that somehow gets overlooked in the end. Of course, it's…

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