2025 is Your LAST CHANCE to Sell Your Home at the Top of the Market!

In this video, I’ll break down inventory changes since 2019, why blue states with tight inventory are seeing rising prices, and how red states with increasing inventory are cooling off.
Discover how interest rates impact home prices, why timing matters, and how to protect your equity. Whether you're downsizing or just ready to sell, I’ll share tips on staging, pricing, and finding the right real estate agent.

⭐️ In Illinois or Florida? Kati can list your home! Text or Call Kati directly at 847-318-3431 today!

❓ SUBMIT YOUR QUESTIONS❓ to Kati to answer in a Live Stream or video!

00:00 Intro
00:46 Single Family Inventory Change from 2019
02:24 What's Happening in Chicagoland Area?
05:13 Why Do Illinoisans Want to Leave the State?
06:13 Four Types of People Who Stay in Illinois
07:42 The Importance of Having a Local Agent
08:27 What Will Happen in the Future?
12:39 The Increase of Inventory in Florida Market
18:03 Three Things You Need To Do To Sell Successfully
19:49 To Sellers in States with LIMITED Inventory
20:43 To Sellers in States with A LOT of Inventory
21:06 To Sellers in BOTH BLUE & RED STATES

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Hey, Kati Spaniak here, I’m a top Chicago North Shore Real Estate Agent. Thanks for watching my channel your ultimate guide to selling and buying homes in the Chicagoland area. Specializing in the vibrant communities of Northbrook, Glenview, Northfield, Wilmette, Kenilworth, Winnetka, Glencoe, Highland Park, Lake Forest and Deerfield. I offer expert advice and insider tips to navigate the North Shore Chicago real estate market with ease.

Whether you're looking to sell your property for the best price or buy your dream home, my channel provides comprehensive support, market insights, and personalized services to meet all your real estate needs. Stay tuned for our latest success stories and invaluable advice from one of the top Realtors on the North Shore of Chicago, ensuring you make informed decisions in this dynamic market.

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Kati Spaniak | Team Leader & Broker
Terra Lux Homes - eXp Realty
847-318-3431

[jenn]

I just moved from Colorado to Indiana because the cost of living was so high. The market went crazy during covid and prices never really came down. We bought our (small) house in 2013 for $200, 000 and sold in 2024 for $440, 000. Took the proceeds and bought a bigger house for cash in Indiana.

[CoastalKaty-bh]

You forgot the 5th category of person: those who got a low interest rate in the last 5 years (purchase or refinancing). We wanted to move, but it's hard to trade a 2.5% rate for today's 7%.

[dynamicdanam]

In some markets there have been groups of investors buying the homes and paying top dollar. They then rent the properties out using a management company. That has priced out regular buyers who aren’t able to pay cash or put large sums down.

[cherylmcwilliams]

Here in FL we have a LOT of retired old people. When they pass away or go into a nursing facility, the family either sells for the cash or they save the property to use as a vacation home. That's why this market is so different from most other states.

[unknown-user]

So you want me to sell my house with a 2.7% interest rate and a mortgage payment that is 40% less than rent equivalent and go where exactly?

[blujeans]

Great video!
Here's a tip for anyone thinking of selling this year (coming from someone who sold their home of 30+ years in 2024). If spring is the best time in your area: start now! I figured, since I had already decluttered and completed almost everything (every room was painted as were all the repairs that I thought would be needed done - plus all major projects were done in the last few years: windows, roof, floors, furnace, etc) - I thought I had plenty of time to pack. In December ('23) my goal was to list the house in May '24. As a former project manager, I made a list of every task that needed to be accomplished before the listing date - along with the date they should be finished by. Let me tell you - even though I had almost 6 months to complete these tasks, I knew by that list, I would be cutting it very close to my May 15th goal. I accomplished it a week late, but I really had to hustle to get in under the wire. Once you start writing down all the details that need to get done, you realize it's not just about packing. In my case, I wanted the house empty before the listing because I like vintage furniture, while my potential buyers would be first time buyers that I knew they would be turned off walking into 'grandma's house' :-) - so I had to include the actual move date to be done before the listing date. Even if you decide to live in your house until the closing, plan to have most of your things packed and in storage ready to go into your new home before you list. Have fun!

[matttoly]

Was working in California for a title company from 2011 - 16. The inventory numbers were an illusion. The banks holding the inventory were not listing even close to everything available. You could drive around and see vacant homes all over but no for sale signs. For years they just released a few homes every so often. It was obvious they purposefully needed to keep inventory down to have any control over the price.

[BANDITDAY]

I live in the northern part of Idaho and our population exploded during an after Covid.
We have responsible politicians here. Our state had a surplus the last few years and our governor put it towards property tax relief. My property taxes were cut in half.

[kwilliams]

Home prices are high, interest rates are high, and fear of squatters if house is empty.

[sherirottweilersforever]

When rates were 18% in the early 80’s no one could sell their house. My mom had a business putting renters in houses for sale who took excellent care of the house while it was on the market.

[emills]

Great info. I'm located on the OR coast. Prices are still high with reductions. Average rent-ready SFR price is $300-500k. For comparison I checked homes in parts of Texas, SFR prices were 1/2 to 1/4 of the prices here on the OR coast and in Eugene. Portland/Washington homes prices are a lot higher than here and Texas. Rents? Between the OR coast and Texas were very comparitive, average $1600 for a 3/2 SFR.

I hear people say the samethings, its too rainy here, too liberal here, the state gov is out of control, yet the inventory is low and demand is high but waining at current prices. I have an offer in on a fixer starter home in the city priced at $180k that needs a roof, has aluminum frame windows, complete mess, 30-50k of work needed, and there is at least 5 competing offers! I purchased another fixer that needs a ton of work including all new electrical for $120k, comps suggest an ARV 350-500k. I put an offer on a small rented fixer 2bed/1bath, flat roof, no yard, below market rent of $700, asking $150k and was outbid within a day of the home listing. We are just now seeing multifamily properties starting to be listed, mutlifams have been very scarce over the past couple years.

I'm in the process of picking up rentals and have been patiently (sometimes patiently) waiting for a market correction for several years. Wife is an OR agent, we were both CA agents before moving. We moved to get out of the city and bought a small farm on a river.

[oitallchrist]

While there is some good information about pricing your home correctly in this video, real estate agents DO NOT have a crystal ball on where the market is going. In 2021 an experienced agent in my area told me to sell now since we were at the top of the market in CA. She was 100 percent wrong. So take your REs predictions with a grain of salt. Don’t think for a second they know where the market will be in the future.

[loriweasel]

Tried selling our home in Arkansas recently. We decided to take it off the market and rent it out. Rent pays the mortgage on our new home. I refuse to sell below value.

[seandalai]

Montanan here - our property taxes have gone up in the double-digits every year because of (wait for it) a smarmy television show about a fictitious ranch family. From 2022-2024, the population in the two counties bordering Yellowstone Park has gone up 42%.!!! My taxes went up 34% in 2023 and are expected to go up another 11% this year. Most of those “moving” here aren’t moving here, but building vacation homes they occupy for about 2 weeks per year and rent out as much as they can otherwise. As more and more housing price refugees leave these two resort counties for the cheaper counties, our prices also go up. I’m thinking of leaving for CO to be with my family. Taxes are high here too, but the services are outstanding, compared to where I live now. For all those increases, I haven’t seen anything that’s improved. We even lost federal accreditation for our only mental health facility because the care was so poor - reason? No wage increases in decades, so workers quit. Where’s that tax money going?

[ShadyD]

@9:39 You can't say 6-7% rate isn't really even that high when it adds over 30% to your mortgage payment over a 2-3% rate; then turn around and say a 5% mortgage might make all the difference on buying and selling, If it isn't all that much people wouldn't care about the rate. The problem is the houses everywhere are so overpriced only the people that need to buy are buying. I am in the market and if I never buy that's okay but I am not buying these ridiculously overpriced homes. Old homes on the market are mostly dumps and new homes have extremely cheap shoddy construction. Everything else is extremely expensive.

[MeJonTheDon]

The main problem is that buyers and sellers have a huge gap. Sellers generally think they are owed some perceived value despite them being in the better position to sell below expectations and take theor equity with them to another house, whereas renters moving into a house generally have significantly less ability to make the jump, and it is not a preference but an actual financial restriction conpared with the seller

[JGirl.]

I live in a blue state and inventory has improved slightly since Covid. No bidding wars thankfully but we have low inventory out here and it varies from county to county. I am hoping for more inventory in the Spring so we can purchase our retirement home. People are sitting on their 3% or less interest rates years ago. I am one of them but have to move.

[stevencipriano]

I know several people who moved to Florida have moved back within a few years

[karlakay]

And Fewer 'regulations' usually means lax codes, no inspections, low pay for construction workers, cheaply / poorly built houses, non-union trades who are less competent. And Corporate builders who build track housing that is not selling.

[team-isnf]

Loan officer here. Yes I agree with most things mentioned in your video. However, I don’t believe, even at 5%, that suddenly homes are going to start rising. The issue with rates being high is that people don’t fit eligibility mostly due to DTI ratios. At 5% I don’t believe it’ll make that much of a difference especially because people are not changing their spending habits. Look at the CC debt right now. It keeps getting higher. My advice for people serious about refinancing or buying a home. Get your debt down. Stop buying cars when you’re in the middle of processing a loan. Don’t do unemployment. There needs to be no breaks in employment for 2 years. Get ready now and start planning. These rates will go down. This happened to my now husband but when we were dating at the time he wasn’t eligible to refi when rates were so low and now it’s worse. Alright hope that helps.