Blog Post 1 – Buyer Tours
In the Real Estate Industry, there is lots of talk of a shift in the Chicago market. Since interest rates are predicted to gradually increase this year, this should bring buyers out earlier in the year. However, the overall market is predicted to slow down a bit so we may see more opportunity for buyers than in previous years.
I always go through the listings with my buyers before we venture out and make sure the details in the MLS are what we are looking for. However, sometimes “perks” of the home are inflated and negatives are only slightly mentioned. I thought it would be relevant to talk about the importance of touring homes as a buyer and give you a great example of why buyers should begin their search and see first hand if the descriptions match!
Not too long ago, I took a client to a showing that he was extremely interested in. The building had a fantastic rooftop deck with a skyline view, and amazing pictures to show for it. Unfortunately, the Listing Agent was not able to meet us and let us into the building, nor did he leave any directions.
The condo was marginally attractive but the big draw for us was the outdoor space. However, we could not find the outdoor space access anywhere in the unit OR in the building. Turns out, there was a pull-down ladder in the powder room to climb to the attic. From there, we had to pull down another ladder revealing a hatch to a very tiny rooftop deck. After my client and I squeezed our bodies through the tight hatch, we stepped out onto the teeny, tiny rooftop deck revealing a breathtaking picture of the Chicago skyline. We spent some time catching a glimpse of the view, and our breath, before we took the climbing trek back down to reality. We had a great laugh envisioning how we could decorate and have social gatherings up there.
The moral of the story: Learn the facts, do your due diligence and keep an open mind when looking at properties. When you walk in that door, you may be presented with something different than what was presented. Either way, it is good information and it may give you a good laugh.