How did we get to the end of one decade and the start of the next?  It does not seem possible that it has been ten years since the turn of the century.   Newspapers, magazines, and the internet are filled with stories listing the biggest changes in the last ten years.  In 1999 we hadn’t heard of Facebook or I-pods or begun Googling each other.  The economy was flying high, tanked, recovered, and crashed again.  What a decade!

The start of a new decade gives us the opportunity to reflect on where we are and where we intend to go.  One of the most difficult things for human beings to do is to change.  We dread it, avoid it, hide from it, but change is inevitable and time keeps moving.

Let’s take advantage of our human nature.   Make a New Year’s resolution, but make it small.  So small that it is almost impossible not to succeed.  People ask me when they should start saving for retirement or for their child’s education.  How about now?  When the baby is born, put those early gifts into an account;  add to it with birthday gifts.  Encourage grandparents to consider savings bonds.  Take advantage of tax deferral and open a 529 or Coverdell savings plan.  Have an automatic payment made every month out of your checking account.  Soon saving for education will be a habit for you and your child.

Don’t have an emergency fund?  Save your coins in a jar on your dresser.  When it is full open a small account.  Every month those coins go in that account.  Put those little windfalls like rebate checks and tax refunds into that account, too.  Before you know it you will be in the habit of saving.

Do you have a 401-k plan at work?  Sign up, even if you can only put in 1% of your income.  If you get a raise, bump up your contribution.  Depending on your income level and tax status, you might be able to fund a traditional or Roth IRA.  If you are over 50, the government allows you to put even more away.  Let human nature work for you and set up an automatic payment.

Take one little step this January, head down the path and hopefully in December 2019, you will be saying:  “Where did the decade go?  I may be 10 years older, but look at what 10 years of saving can do!”

Have a very Happy, Healthy, and Prosperous New Year!

Jean M. Diamond CPA

847-441-3391

Like any project a person begins (buying a car, figuring out where to go on vacation, etc), a certain amount of research work is needed to find the right item which also fits your budget.  Home Renovation is certainly no different.

Most homeowners start construction projects without figuring out all the details and then their budgets easily run over and their timeline is blown.  This happens in both Do-It-Yourself and contracted projects – where architects and contractors are hired to define and build the work.  But why does this happen even when professionals are hired to help? 

Professionals offer many different levels of service.  An architect/engineer/designer is generally hired to provide a set of drawings to your municipality to obtain the building permit.  But a set of drawings that only covers  the “Life Safety Issues” (fire-rated walls, required exits out of the home, etc) that gets you your permit, doesn’t include the detail needed for a successful project in the field. 

By hiring your architect to provide a more detailed set of drawings, you ensure that your project will stay more on track financially.  The contractors will know the level of finishes that they will need to install and give a more accurate bid.  You will become aware of the costs of your finish materials (backsplash tile, wood floors, soaking tub) and make sure they fall within your budget before any work is done.  Make sure the details are there for EVERYTHING.  For example when specifying kitchen cabinets you need to define: wood type, door profile, drawer glides, door pulls and pull location, stain and poly finish, cabinet layout with  appliances, when the doors are closed are they flush within the cabinet frame or do they sit forward of the frame, etc.  The most important thing a homeowner needs to do is define the details.

Become involved in your project as much as possible to keep costs down.  Show magazine pictures to help designers understand what look you want.  Get application forms from the city to submit drawings for permit and take the drawings to the building department yourself.  Price materials and get a sense of the costs to see if they are within your budget early in the design process.  Get things highly defined and planned well before any work begins.  This will prevent any unforeseen change orders, that can add to the cost of a job.

Your due diligence will keep your project on budget and finished on time. 

Karyl Doran

Dwell Development

Cross purposes? They don’t have to be. Food is an important part of the gathering, along with family and friends.  Holiday get-togethers can be a way to reconnect with your appetite as well as those around you. What an opportunity to engage all of your senses and enhance your celebration!

Savor all that delicious food not just with your mouth, but with your eyes, nose, AND stomach! Your heart and mind will be rewarded as well because you are celebrating with family and friends, and you will foster confidence that you can do this! A few pre-party considerations will help steer you through the temptations…during the holidays and in the future.

This is the beginning of mindful, thoughtful eating—eating to nourish more than just stomach hunger. Use the suggestions below for mindful holiday eating.

Chew on this. Another definition of ‘chew’ is to consider, deliberate, mull over. Kind of like mindful eating!

Before the party, try this at home with one of your favorite foods. Choose something you snack on when you are in a hurry. For example take a few raisins or dried cranberries, a piece of chocolate, a few nuts or a piece of fruit. Hold the food in your mouth-no chewing- for about 30 seconds while taking note of the sensation on your tongue, taste, or lack of taste and how the taste changes. Now, take another 30 seconds to chew the food and notice any changes. Chew very slowly to experience the sensations and tastes. What is different about this familiar food?

Time to entertain your eyes, nose and mouth

You’re at a party and the table is LOADED with food. How can you be mindful now? Slow down and notice your surroundings…the music, the people, the aromas.

 Your eyes peruse the goodies and are satisfied by the beauty of the display of food, the festive surroundings. Your nose delights in the fragrances of food, candles or other scents. Savor with your eyes and nose to decide what your favorites are. After carefully looking at all the food available, choose which foods are going to satisfy your hunger.

 Now, it’s time to get a plate and let your mouth join in the fun. Don’t drool! Choose a few of your favorites. The advantage is that you can have a small amount of several goodies.

 Savor

Savoring food can mean quicker satisfaction, fewer calories and better nutrition. Part of savoring means chewing and the benefits of chewing are many. Digestion starts in your mouth with chewing; saliva breaks down food which releases nutrients. Nutrients are absorbed in bloodstream more quickly which contributes to feeling full. Your mouth is more satisfied from the experience of different textures & flavors.

 Hormones make you satisfied

By eating healthy unsaturated fats (nuts, olives, avocados, canola oil and fish) you will help your body release leptin, a hormone released by fat cells. Leptin is important because it is one of the triggers to say you are full.  The message takes about 20 minutes for your brain to realize…”Oh, I’m full!” or “Oh, I’ve eaten too much!”

 Two items to avoid, because they inhibit leptin: saturated fats (found in animal fats such as red meat, butter, cheese & whole milk products) and alcohol. 

 Your stomach is satisfied by the variety of food as well as the quantity. Chewing food makes the rest of the digestion process easier.  A balance of carbohydrates (starches), protein (nuts, dairy, meat, fish) and a small amount of fat (usually in animal fat and sweets) is satisfying to your body. Aim for some of each to enhance your satisfaction.

 Alcohol and liquid calories

A glass of wine or a drink is certainly part of the festivities and can be a part of mindful consumption. As with food, there are a few considerations to keep in mind.

 Alcohol has calories too! Higher alcohol content equals higher calories. As a general guideline, each drink (6 ounces of wine, 12 ounces of beer or 1.5 ounces of liquor) has at least 100 calories. Many glasses of wine and hard liquor can be well over that amount, so plan accordingly!

 Don’t forget the calories in soda, mixers and juice. Although I don’t think it is necessary to count calories, it is necessary to understand the impact of drinks—alcoholic and non—in your daily consumption.

 Limit your self to 2 drinks and alternate with seltzer, club soda or water with a lime/lemon.

 Other tips

Eat a small meal or filling snack before going to the party. You will be less likely to overeat if you aren’t starving when you get there.

 Offer to make a side dish.  You have control of the ingredients and know what’s in it.

 Eat just half of that big cookie or piece of cake.

 Don’t stand at the table of food-too many temptations!

 How good you will feel

There are so many advantages to taking control of holiday eating.  You will feel good in the morning because you are confident in your abilities to manage all the temptations—and avoid overindulging in food and drink. How proud you will be to have negotiated the holiday table with finesse.

Polly Wilson, RN, MSN, Certified Wellness Coach

Delight in Healthy Living, Wellness Coaching

polly@dhlcoaching.com

There are 3 factors that traditionally have affected the sale of a property—location, condition and price.

You have all heard “location, location, location” as the 3 “hallmarks” of real estate.

The current real estate market now dictates—

price, price, location!

The importance of price cannot be over emphasized. Price has become the dominant factor. You can not change the location but you can change the condition and appearance of the property by using the services of a professional home stager, your realtors input and getting the property as organized as possible. My fellow panelist, Anne West, of Re design doctor will give us examples of successful staging projects and lots of good ideas.

I will address the importance of Power Pricing. Let’s talk about selling a property first—

These are some easy steps to follow when you consider or decide to sell your property.

1. Call your Realtor or if you don’t have a Realtor call a friend or family member whose opinion you trust and ask for a recommendation. Ask for references from whomever you choose if you wish.
2. It is advisable to use the real estate company with the largest market share. It is also advisable to work with an experienced agent.
3. Carefully review and consider the comparable market home analysis that your agent will go over with you. Cover active listings, pending listings waiting to close and recently closed properties as they best compare to your  property. Remember that active listings are most important since they are in fact your competition.
4. Ask your agent for suggestions about updates and improvements to help your home sell more quickly. Use  a professional home stager to realize your home’s best $$$ potential. I recommend my fellow panelist, Anne West of Redesign Doctor. Anne is experienced and cost aware with all her suggestions. She suggests and spends as if it is her own.
5. Be sure you have all the updating and any changes done BEFORE you go on the market. Ask your Realtor about the upgrades and updates that attract today’s buyers. You will want your best foot forward.
6. Don’t forget about your home’s curb appeal. First impressions are important and lasting.
7. Be sure your Realtor has TOP internet exposure with multiple sites. Over 89% of the real estate sales start with the internet.
8. Be sure your Realtor has their own active website as a source for buyer information.
9. Be sure your home has it’s own website and there is a rider sign on your for sale sign identifying your home’s web address.
10. Be sure you have floor plans to include in the home’s brochure and flyers. Buyers like to know their furnishings will fit in a room. This will help set your home apart from its competition. The floor plan should also be included in your home’s website and as many internet sites as possible.
11. Be sure professional photos are used for all your homes marketing. There should be as many photos as allowed on the internet sites such as Realtor.com. Your home’s own website should have many photos including spring/summer photos if it is fall/winter marketing time or the opposite as appropriate.
12. Have all pertinent documents available to be included in the preparation of the  marketing ie: survey, copy of your tax bill, out of season photos for brochures etc.
13. Be sure you make your home available for all showings. Set available times with your agent –example- no showings before 9 am on weekends or after 8 pm in the evenings unless it is a second showing
14. Make sure you are reachable to verify all appointment requests or set the confirmation/showing requests with your agent.
15. Try, and really try,  not to be home during any appointment. It can make a buyer uncomfortable.
16. Be sure you have all your door locks easy to open. It is awkward to have clients waiting in rain, wind or snow while an agent has to “fiddle” with a bad lock.
17. You, your agent and your property type will help determine what type of lock box, accompanied showing or key arrangement works best.
18. Decide the necessity of public open houses for your property type and location.
19. Plan on an agent open house the first week the home is listed.
20. Be sure your home’s web site, brochures, first post cards and flyers are ready before you enter the active market. It’s the “best foot forward” approach.
21. Review your marketing plan with your agent before you enter the active MLS market . A good “game plan” with your agent will make things go more smoothly.
22. Use a Home Warranty Plan from AHS to cover you as a seller during the listing period until closing and your buyer for 1 year after the closing. It is a very successful marketing tool. The AHS plan is very comprehensive and offers a level of comfort for both sides.
23. Don’t hesitate to ask any questions about the process of selling. Set up a weekly agreed upon “check in time” with your agent for any questions or feedback information. Let your agent know how and what time of day you would like to be contacted—email, phone (cell, home or work) or snail mail.
24. We recommend the services of a Real Estate Attorney. Your agent will have a list of those who are active practitioners available for your convenience if you do not have one.
25. Inspections can yield issues. Remember work with your agent and Attorney to sort out any issues. An inspection should not be a discount coupon.
26. An experienced mortgage broker can interpret what the buyer’s mortgage clause means in the contract. Again, your agent can give you a list of mortgage brokers. I highly recommend my fellow panelist Betsy Hanrahan, a VP of PHH mortgages one of the country’s largest and most reliable companies. Betsy is very experienced and makes herself available for her clients.

The MOST IMPORTANT ELEMENT OF SELLING ANY PROPERTY IS

PRICE!

So, on to THE most important element of selling a home—particularly in this challenging real estate market–

PRICE will always have the biggest impact on a sale. It is the most controllable element. I suggest you carefully review with your Realtor the active listings that will be your competition.  Cross reference the room count, condition and location as it compares to your home. Whether you are selling a condo, townhome or single family property there will no doubt be competition. Make your property stand out as the best VALUE by its Power Price Position.

The number of suburban sales is down by approximately from the same time last year. The city of Chicago, according to recent article in Crain’s, was down 40.1%. Much of the Chicago suburban market, including my north shore market, is reliant upon the move ups from the city. It can represent as much as 30-40% of a town’s sales. It is possibly the biggest single source of buyers. This is one of the strongest reasons to Power Price Position your property to capture those city move ups. These buyers will be able to discern your property as the best VALUE in its price position.

Price your home in a Power Price Position for the market. It will guarantee you more activity in the most important time of the marketing—the first 3-4 weeks of a listing. I recommend  pricing a property from 5 to 10% under its closest competition. This could result in multiple offers and that usually results in selling close to listing price or better.

Remember to LEAD THE MARKET with an aggressive price!  Why  follow or trail behind and end up lingering on the market ? You will become a “ stale” property. Your property is “fresh” for the first 3-4 weeks. You could totally miss the buyer by being in the wrong market price position. For example –if you price your property at 550,000 and would expect it to sell in the mid 4s you could miss that mid 4 ready to buy person. It is true that some buyers search considerably out of their affordable range. They are time wasters and often make very low offers on properties that have lingered on the market.  An active and serious buyer will buy when they perceive the VALUE. It is hard to resist a real VALUE.

A home is your largest asset, your biggest financial investment commodity and probably the center of your life.  Presenting your home in its best light in a Power Price Position and having it professionally staged will help your property to sell in a timely and smooth manner.

Remember these basics when selling a property:

* Work closely with an experienced Realtor to help guide you from start to finish

* Stage it with a professional stager to present it in its best light

* Price it very aggressively—below it’s closest competition—a Power Price Position in the market to lead your competition and stand out as the best VALUE available

As said in the beginning—we have heard location, location, location….now the rule is  price, price, location. I have told many potential sellers that in today’s real estate market ..if they want to sell they need to be at a “need to sell” price. Don’t think you can always negotiate the ambitious price or just try a certain price and lower it later. That will not work! An overpriced property will leave its owner negotiating with no one but themselves. Buyers look for short comings and faults more aggressively with overpriced homes. Any lowering in price may not put the property in a strong Power Price Position SOON enough!  You will certainly be playing to an empty audience. Why not Power Price Position and lead your market position with the best VALUE available ? The answer is obvious!

The best strategy to use in the current challenging real estate market is the aggressive listing price.  There is no doubt that Power Price Positioning and professional staging will help your property sell faster.

Maureen Spriggs
www.northshorehomestore.com
847-441-1028
maureen.spriggs@cbexchange.com