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Low-Cost Ways to Stand Out When Flipping Houses in Chicago

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By : John Cutts    99 or more times read
There are low-cost ways to stand out when flipping houses in Chicago, as advised by experienced realtors and investors in the area.

Because there are plenty of lower-priced foreclosures in Greater Chicago, investors need to make their properties stand out. In the first quarter, the combined number of Chicago pre foreclosures and units that entered the foreclosure listings of banks increased to 9,302 units, increasing the number of choices for buyers and making the competition for selling tighter.

Within the city of Chicago alone, more than 3,300 homes were added to bank listings of houses for sale in the first quarter, making it imperative for home sellers and investors to find better ways to market their properties.

Among the suggested low-cost ways of making foreclosure properties look better is fixing small but essential parts of the house. Anything that is leaking, broken or cracked should be repaired, as most prospective buyers notice everything.

Light switches should be fixed, bad flooring should be replaced, tight doors should be oiled, fissures in the walls and should be patched and faucet fixtures should be replaced by new parts.

Sellers should see to it that there are no defects in the foundation, windows, roof, doors and essential house systems such as air conditioning, heating, plumbing, electrical and septic systems.

Flipping houses entail hiring more experienced people to do the job if one is not a handyman. Even do-it-yourselfers can make a costly mistake in repairing an apparently easy task, so flippers should consider hiring a handyman to do the job.

Paying a certified home inspector to point out parts that need to be repaired can also yield more profits as the seller can use the home inspection report and subsequent repair completion as part of their marketing strategies.

Flipping cheap houses in Illinois entails the same efforts of making the properties stand out, as the number of lower-priced distressed properties statewide is still rising.

In the first quarter, the number of repossessed homes rose by more than 17 percent from one year earlier to 15,000 units, adding more properties to the current inventory of lower-priced homes for sale.

Lastly, house presentation is also another major factor for success in flipping houses. General cleaning, removing clutter and putting things in their proper places are just three of the means to showcase an enticing house and beat the competition.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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