April 2024 Real Estate Newsletter by The Burhop Group

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YOUR HOME IS TRENDING!

We love showing off the homes we sell. From the timeless classics, to the fully-updated, and everything else in between—our “Make my Home Famous Program” maximizes the value of your home by highlighting its key benefits. Call us today at 847.275.0277 to learn more.

HOME STAGING: Creating ‘sweat equity’

DEMONSTRATING LIFESTYLE is a core part of our home staging process, and we always look to market trends as well as feedback from our buyers about what they think are the most important features to showcase. When it came to the home gym, we used to advise sellers to scale back or remove exercise equipment from their main living areas as we often felt the spaces could either be better utilized or showed better without it.

But after hearing from several of our recent buyers that they were looking for space to work out at home, we are definitely rethinking that approach. The latest trend is toward utilizing unused spaces or guest rooms as home gyms, yoga studios or meditation rooms—and this alone could make the difference in a sale.

This doesn’t mean you have to buy a lot of equipment just to get this effect; I love how this neutral bedroom space (at left) is set up as a peaceful place for yoga and cardio, but a buyer could still see how easily it could be transformed back to a bedroom or office if needed. Even if you don’t plan to sell anytime soon, adding this key feature could ‘work out’ very well for you in the future! n — Shaunna Burhop

Northwest Suburbs Market Update

*Statistics March 2024 v. 2023; (+) or (-) indicates change between the month of March 2024 compared

Upcoming Events

18 APR

Spotlight Series: Navigating a Successful Journey to Senior Living

Come for a glass of wine and empower yourself with advice from our trusted expert, Eric Klein of Care Patrol. He’ll provide key suggestions and helpful guidance relating to assisted living, memory care, and in-home care options (as well as how to pay for it).

/6:30–7:30pm at the B&W office in Arlington Heights. RSVP at theburhopgroup.com/events.

FOLLOW SHAUNNABURHOPREALESTATE ON INSTAGRAM FOR MORE NEWS & EVENTS! 210 W. Northwest Highway Arlington Heights, Illinois 60004
Featured listings, market & design news, fun local events and more! APRIL 2024 NEWSLETTER / THEBURHOPGROUP.COM
INSIDE:
Detached, Single Family
Median Sales Price: $460,000 +10.0%
Average Days on Market: 38 -38.7%
New Listings: 464 -19.6%
Homes Under Contract: 380 -14%
Absorption Rate: 104.4% Attached, Condos + Townhomes
Median Sales Price:
+8.1%
$260,000
Average Days on Market: 26
-31.6%
New Listings: 410 +2.5%
Homes Under Contract: 396
+24.5%
Absorption Rate:
187.7%
to March 2023. Figures from MRED LLC. Info Sparks.
FROM BEDROOM TO ZENROOM: The bench and baskets offer a peaceful design aesthetic while offering function to hide away towels or small equipment. Find similar at worldmarket.com.
Source and photo: goodhousekeeping.com Shaunna Burhop (left) and Tracy Bongiorno of The Burhop Group.

BEFORE & AFTER

For this listing, our seller chose “Level 2” and we went to work selecting paint and finishes, providing contractor recommendations, and managing the entire process. After photo by VHT Studios.

OUR CLIENTS OFTEN ASK US: “Should I sell my home as it is, or choose to make some upgrades?” The answer always is: “It’s up to you!” We have sold many homes in “as-is” condition for various reasons, and we were still able to maximize value. Our custom “Make My Home Famous” marketing strategy is designed to provide the highest return for your home either way.

But sometimes clients want to understand what the difference might be if they do decide to invest a bit in upgrades prior to selling—and specifically what projects provide the best payback. This is where The Burhop Group excels. We always look at multiple scenarios and help you assess the best ways to spend your money.

The key is making the right improvements that appeal to the widest pool of buyers, while putting the right marketing steps in place to capitalize on your investment. Here’s an example of a recent evaluation we did with a seller, below. We looked at selling the home as-is versus two levels of various home investments:

The Results: $442,675 8.2x payback!

Clean and re-stage personal items; store some furniture; paint all of the walls and trim throughout; complete small repairs; upgrade 3-light fixtures.

All Level 1 items plus: paint the kitchen cabinets; change out the vanity and faucet in the main bath; repair and spray the main bathtub; rent larger staging items (sofa and two chairs).

The seller chose Level 2, and we went to work selecting paint colors, fixtures, and other finishes. We also provided the contractor recommendations, managed the entire process, and added a little “staging magic” to the mix. The result exceeded expectations: the seller received multiple offers and a price well above our estimates. n — S.B.

To view more before and after photos, visit theburhopgroup.com/staging-before-and-afters.

FABULOUS GREAT ROOM ADDITION 2537 N RALEIGH, ARLINGTON HEIGHTS COMING SOON: Call for price CALL US FOR A FREE CUSTOM VALUE REPORT FOR YOUR HOME.
its
your property is currently listed, please disregard this solicitation. Information provided is not guaranteed and subject to change and withdrawal without notice. DOWNTOWN DES PLAINES 1327 BROWN ST., DES PLAINES JUST SOLD! $340,000 CONDO AS BIG AS A SINGLE-FAMILY 100 LAKE BLVD #659, BUFFALO GROVE COMING SOON: $259,000
Call us at 847.275.0277 for more information on these listings, or to set up a custom search just for you! Featured Homes
Whether you are ready to make a move or just want to understand
current value, we’re happy to answer your questions. Call us today at 847.275.0277. If
OUR SERVICES: Taking it to the next level
TYPE INVESTMENT VALUE EST. As-is $0 $365,000 Level 1 $5000 $380,000 3x payback Level 2 $9400 $410,000 4.8x payback
None PROJECTS BEFORE AFTER

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