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Column: Fall real estate market can be chock-full of opportunity


Both buyers and sellers could learn much from local, experienced agents who've offered up some sound advice ... said Haseman. "So the fall real estate market is much like the people it serves ... everyone trying to capture the last beautiful days and ...

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.trb_em{width:100%!important} [data-content-size~=leadart]{display:block!important} [data-content-size~=leadart] .trb_em_r_cc{margin:10px 0!important} .trb_ar_h{border-top:0!important;margin:0!important}.trb_ar_by_b,.trb_ar_by_cl{display:none} .trb_ar{padding:0!important;border-top:0!important} .trb_ar_bc{display:none} .trb_ar_page>ol,.trb_ar_page>p,.trb_ar_page>ul{color:#000!important} .trb_ar_hl_t{background:0 0!important} .trb_ar .trb_ar_la{width:100%!important;margin-left:0!important} .trb_ar_cont{display:none!important} .trb_eg{display:none} .trb_sc{display:none} .trb_nh{display:none} .trb_taboola{display:none} .trb_gptAd{display:none!important} } trb.userTiming("trb css load"); Suburbs Oak Leaves Oak Park News Column: Fall real estate market 'can be chock-full of opportunity'
Gagliardo Realty Andy Gagliardo, broker/owner at Gagliardo Realty Associates in River Forest. Andy Gagliardo, broker/owner at Gagliardo Realty Associates in River Forest

(Gagliardo Realty) Felicia DechterPioneer Press Fall is upon us, and there's a nervousness that permeates the air — both in life and in the real estate market — at this time of year, says Greer Haseman, a Realtor with @properties in Oak Park."You realize that the days are getting shorter and the nights are getting longer," said Haseman

"A rush to cling to the sunny days and to harvest whatever your garden may yield, while keeping a close eye on the bees who know that their time is almost up, fill your days

So we somewhat frantically try to pack too much into the nice days that remain as if that would somehow capture the essence of this beloved season and last us through the winter months." Savvy sellers will price their home accordingly, making sure it's competitive with the new inventory, said Haseman

Regardless of whether a home has been on the market for several months or will be a new fall listing, sellers must make the outside as polished as possible with a thorough fall cleanup of the yard, garage, fresh paint where needed and washing the windows, she said.Buyers should have loan documents and paperwork in order, to be able to close by year end, which is usually an important component for sellers

Buyers who are able to do so may have a leg up in negotiations, said Haseman."So the fall real estate market is much like the people it serves ..

everyone trying to capture the last beautiful days and harvest what it can," said Haseman.This year's fall market has gotten off to a sluggish start, said Andy Gagliardo, broker/owner at Gagliardo Realty Associates in River Forest

Hopefully that is starting to change though, he said. "We did see our showing activity pick up last week, and we anticipate that to continue going forward," said Gagliardo, who currently has a listing for a home that is available for the first time in 37 years, a circa-1883, gorgeous Italianate villa in River Forest at 344 Keystone

"If sellers are thinking of getting into the market, now could be a good time in front of the holidays and next spring."For buyers, now is a great time to get in the market, said Gagliardo, adding that more rehabbers are on the scene, providing an opportunity for buyers wanting that turnkey house."Rates are still historically low, and everything points to them rising in the future," he said

"Buy your houses now, lock in your low mortgage rate and get ready for the holidays."While there is typically a slowdown this time of year compared to spring and summer, this fall could be even slower than usual, said John Lawrence, broker/owner of Weichert Realtors-Nickel Group in Oak Park. Lawrence said the first quarter of 2017 saw nice gains, but there was a tapering of activity at the end of the second quarter, and the third quarter is experiencing the same thing."With interest rates staying lower than expected, I think that the slowdown is due to buyer fatigue with the low inventory," said Lawrence, who has listings at 1435 Lathrop in River Forest and 546 N

Oak Park Ave

in Oak Park

"We have people who can't find what they want/need and either look elsewhere or delay purchasing

In Oak Park, this could be related to the increasing tax burden."In the western suburbs, currently there are 12 percent more homes for sale (inventory) than at this time in 2016

But there are also 5 percent more buyers on the market in the area, said Scott Berg, managing broker at Berg Properties in Oak Park.Although inventory is up, the market has still been fairly strong, and it is a strong seller's market for homes priced below $550,000, said Berg

From $550,000 to $750,000, it's a balanced market and above $750,000 it starts to turn into more of a buyer's market, he said.The city market is still outperforming the suburban market at this time, said Berg."So it is a great time to sell in the city and buy in the suburbs," he said.Felicia Dechter is a freelance columnist for Pioneer Press. Pass the syrup? Try Buddy's Elf pasta in the Loop Old Town School of Folk Music Phil Vettel reviews Le Sud

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