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How Do You Know a Home Is a Good Deal?

Three criteria to help you determine whether a home is worth purchasing.

A concern buyers frequently have when searching for a home is whether or not it’s a good deal. Here are three things to consider when determining whether a home is worth purchasing: 

1. Price. In any market, the price has to come first. To determine what you can comfortably afford, speak to your real estate professional. They can recommend an excellent lender who can pre-qualify you for a loan. When you know how much you can spend, it’ll be much easier to shop for homes you can truly afford.

2. Condition. The condition of a property refers to the state of repair. Does the home have curb appeal, and is it updated and well-maintained? Or does it need expensive remodeling? Carefully consider any deferred maintenance, such as the roof or tuckpointing, that will likely need to be addressed within the next couple of years. Think about the design and functionality: Is the kitchen too small, and can you afford a remodel? 

In any market, price has to come first.

3. Location. Some areas will always be more expensive than others, and well-kept neighborhoods tend to maintain higher home values. Homes that are close to good schools, entertainment, jobs, and public transportation tend to sell for more than homes without all that infrastructure. 

If you have any questions about buying or selling a home or a topic you’d like me to cover in a future blog, please give me a call or send an email. I look forward to speaking with you.

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John Lyons

Tired of traveling week-in and week-out for his corporate job, John Lyons decided to start his own real estate business. Lyons could not have predicted how well his background would prepare him for a career in real estate. His journey has been a long and successful one. After graduating from Indiana University in 2001, he took a job selling copiers at Minolta Business Solutions. After building an impressive track record there, he was hired by BrainLAB, Inc. to sell image guides surgical systems. He quickly rose to become one of the top sales representatives for the company. Seven years later, he was hired by Midwest director of sales IMRIS, for their intraoperative MRI and integrated operating room solutions. Now he has a new outlet for his sales abilities: real estate. A Chicago Association of Realtors Top Producer and recipient of Baird and Warner’s Founder’s Club award for the past four years, Lyons had a record 2018, selling more than 11.7 million in real estate. This marked an 18 percent increase over his 2017 numbers. “I was able to accomplish this through daily prospecting and providing a high-level of service for my clients,” he says. In testimonials, his clients say he is patient, trustworthy, personable, knowledgeable, and professional. “Each and every client is so different,” he says. “It’s important to truly understand their needs so you can best serve them. Listening build trust, which is so incredibly important in our business.” A member of the Lakeview Chamber of Commerce, he assist clients in a variety of neighborhoods, including the Near North Side, Lincoln Park, Lake View, Uptown, Ravenswood, Logan Square, West Town, and the Loop. He is quick to admit the best education he has ever received was from his 6 years of service in the United States Marine Corps. Lyons donates $200 per transaction to the Neonatal Intensive Care Unit at Lurie Children’s Hospital. “I am running the Chicago Marathon in 2019 for Lurie Children’s Hospital,” he says. “I have a lofty goal this year, to qualify for the Boston Marathon a second time. Since the beginning of the year, I have been spending at least four hours a week training for the October 13 race.” Results matter, here are John's Listing Numbers: Average list to sell ratio - 98.2% Average days to closing - 52 Listings taken to listings sold - 99%

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