Hey everyone, Michael LaFido here! I’m excited to bring you this month’s real estate tip and some fresh updates straight from downtown Wheaton.
First off, let’s talk about what’s new around town. Both Doe, the new sports bar, and The Backyard—an awesome warehouse-style venue with live entertainment on Fridays and Saturdays—are now open on Front Street. Doe’s already getting rave reviews for its pizza and menu, and The Backyard continues to be a local favorite, especially after my video about it hit over 25,000 views. If you haven’t checked them out yet, you’re missing out!
Now, onto some good news for Illinois homeowners: for the first time, Illinois takes the top spot in a positive real estate statistic. There are 67% fewer homes on the market compared to May before the pandemic. If you’re selling, that’s phenomenal news—a low supply generally means higher home prices. Of course, for buyers, it’s a bit tougher.
This leads me to our tip of the month: understanding the difference between the private network and the public network when selling or buying a home. Here’s the scoop—private network listings are a great way to create urgency and curiosity about your property before it officially goes live. We might use this strategy while the finishing touches—like painting or repairs—are underway. Sometimes, homes even sell before they’re publicly listed!
But be cautious: keeping your home off the public market for too long can hurt your chances. Private network listings don’t get the same exposure since they aren’t featured on popular real estate websites. Think of it like selling your car just by parking it with a for-sale sign in your driveway versus advertising online. You’ll get far more qualified eyes on your home with a full public marketing push, which can drive better offers and a higher sales price.
We’re also celebrating recent success stories in Wheaton—our team represented three of the top five highest-priced home sales in the area, including a significant sale that just landed in the top four all-time. Not many homes in Wheaton sell above $2.25 million, so these results mean a lot to us and our clients.
And remember, for an accurate market value of your home, don’t just trust those automated values from third-party sites. I’ve seen too many sellers leave money on the table relying on those numbers. Reach out to me if you want a real, market-based valuation!
If you found value in these updates and tips, please give us a like and leave a review. Make it a great day, and let me know how I can help you make your next move a successful one!