Is now a good time to sell in Chicago?
Yes — inventory is low overall, and buyers remain active year-round. Demand varies by time of year, neighborhood, type of home and condition. The best time to sell your home is when it makes sense for your timeline. Jovanka Novakovic provides market updates specific to Lincoln Park and downtown Chicago neighborhoods and will provide you with specific market data related to your home sale.
How much is my home worth?
Your home’s value depends on location, condition and “comps” or comparables. Jovanka offers a free Comparative Market Analysis or CMA to set a strategic price to best position your home in the current market based on recently sold similar homes in your area.
How long will it take to sell my home?
Lincoln Park homes typically sell within 30–60 days when priced right. Some homes may go under contract in a few days with multiple offers and some homes may take a few months to go under contract. Market time varies by neighborhood, type of home, condition and hyper-local specifics of the home’s location and features. Jovanka will review the current market conditions for your home with you in detail. Jovanka’s insights and marketing often reduces that timeline.
Should I sell my home or buy first?
It depends on your equity and timing. Jovanka coordinates both transactions and can connect you with a lenders who can offer creative financing solutions such as bridge financing to allow you to buy a new home before you sell your current home.
What costs are involved in selling a home?
Plan for approximately 8–10 % in fees including agent commissions, closing costs, and repairs. Jovanka explains possible expenses upfront.
How do I set the right listing price?
Price your home based on data and buyer demand. Jovanka prepares a CMA or Comparative Market Analysis of similar recently sold homes to find the Goldilocks price that is not too high or not too low. Pricing your home too high may result in your home sitting on the market for longer than is typical causing buyers to wonder if something is wrong with your home. Jovanka uses real-time analytics using Phased Marketing utilizing Compass Private Exclusives, the Compass Buyer Demand Tool, Reverse Prospecting and local insight to maximize the value of your home.
What affects how fast my home sells?
Condition, price, and exposure are the aspects that we can control when selling your home. Jovanka’s comprehensive marketing plan including high quality photography, video, floor plan, brochure, digital marketing and professional staging boost visibility for your home. We can’t control what buyers are willing to pay, what other seller’s are willing to accept for their homes, interest rates or socio-economic factors.
What’s the best time to list in Chicago?
Spring and early summer (January through June) draw the most buyers, but Jovanka adjusts strategy for year-round results in order to sell on your timeline. With low inventory in Chicago, buyers are looking year round.
Which upgrades add the most value?
Fresh paint, landscaping, and modern lighting. Jovanka advises on cost-effective improvements that don’t require a complete renovation adding more value to your bottom line.
Should I stage my home?
It depends. Staged homes typically sell 30 % faster and usually for a higher price. Jovanka partners with top stagers throughout Chicago. Jovanka can also advise you on alternative options such as using your existing furniture or virtual staging if desired.
What do I need to disclose?
Illinois law requires disclosure of known defects. Jovanka ensures you meet all state requirements.
Should I get a pre-listing inspection?
It’s helpful for preventing surprises, especially for older homes. At minimum, Jovanka recommends taking care of any known to-do list items such as a leaky faucet or loose toilet prior to listing.
Do I need a real estate agent to sell?
You can certainly go FSBO. Jovanka’s granular, hyperlocal market knowledge, professional marketing reach, personally showing your home and negotiation skills typically net a higher return. In addition, you will always know where things stand with transparent transaction management with the Compass One Dashboard. With over 15% of purchase contracts being cancelled in 2025, Jovanka’s goals are to both maximize the value of your home and ensure your home makes it through closing.
How do I choose the best agent?
Select someone local, experienced and proactive. Jovanka has a proven track record across Lincoln Park, Lakeview, West Loop, Gold Coast and other downtown Chicago neighborhoods. Jovanka has a system to keep you informed every step of the way.
How much is commission?
Real estate agent commission varies by agent. Jovanka customizes plans to fit your needs and budget.
What happens when I get an offer?
Jovanka reviews price, contingencies and buyer financing before you decide to accept or counteroffer. Negotiations can take hours or days depending on the situation.
What is a contingency?
Conditions buyers use to protect themselves and are standard language in IL purchase contracts. Jovanka manages them to avoid delays and protect your best interests.
What if the appraisal is low?
Jovanka negotiates or guides you through options to keep your sale moving forward.
What do I do before closing?
Complete negotiated repairs, keep insurance active through closing, and coordinate move-out. Jovanka handles timelines and checklists.
What taxes or fees apply in Chicago?
Expect state, county, and city transfer taxes. Jovanka works with trusted real estate attorneys to ensure smooth compliance.
What happens on closing day?
As a seller, you’ll typically sign final documents ahead of closing and transfer keys to Jovanka. You do not need to attend the closing as the seller. Jovanka along with your attorney oversee closing to ensure funds release promptly and keys are delivered to the buyer at the closing table.
How can I boost my sale price?
Presentation and pricing are key. Minor home improvements and staging go a long way in boosting your sale price. Jovanka’s strategic marketing plan targets qualified buyers in the Chicago market. Make sure to review Jovanka’s 10 Steps to Sell Your Home for specific details on how to prepare your home for sale.
What if my home doesn’t sell quickly?
Jovanka will review the marketing performance metrics with you on a weekly basis and adjusts strategy immediately with new pricing or promotion tactics.
How soon do I get paid after closing?
Typically, within one business day. Jovanka and your attorney track funds through closing.
Why sell with Jovanka Novakovic?
With deep local knowledge and a modern marketing approach, Jovanka delivers top-dollar results for Chicago homeowners. Her numerous five-star reviews from happy clients can be found on Google and other review sites.
Top 25 Home Seller Questions
Selling a home successfully in Chicago involves more than just listing it; it requires precise timing, strategic pricing, and flawless presentation to capture top-dollar value. Sellers often ask about the best time to list, which updates truly add value, and how to set a listing price that attracts the right buyer quickly. Jovanka Novakovic provides a data-driven approach, leveraging Compass technology and hyper-local neighborhood expertise to deliver superior results. Review this FAQ to get direct answers to your questions and understand the steps Jovanka takes to guide your property through a profitable and efficient sale.
Am I financially ready to buy a home in Chicago?
Yes. If you have a steady income, savings for down payment and closing costs, and a strong credit score, you are financially ready to buy a home. Jovanka Novakovic helps first-time buyers create a realistic budget and connect with reputable Chicago lenders who may have access to downpayment assistance options.
How much home can I afford in Lincoln Park or nearby?
A smart rule is to keep total housing expenses below 25-30 % of your gross income. Jovanka and her lender partners help analyze your finances to determine how much house you can afford and match you with neighborhoods that fit both your lifestyle and budget. Housing expenses include mortgage principal, interest, taxes, insurance and possibly HOA fees if buying a condo or townhome. Here is a great video from Justin Lopatin, Mortgage Lender at Origin Point which breaks down why 25% of gross income is a good goal for your mortgage payment. https://www.youtube.com/shorts/_U0oAyKjzH8
How much should I save for a down payment?
Many Chicago buyers qualify for as little as 3 % down through conventional or FHA loans. However, if you have at least a 20% downpayment, you would avoid paying for PMI or primary mortgage insurance. Jovanka Novakovic and her lender partners help guide you through available Illinois programs and grants.
What mortgage options are best for me?
Conventional fixed-rate, adjustable-rate, FHA, VA, and jumbo loans are common. Jovanka and her lender partners compare options based on your personal situation, credit score, timeline and risk tolerance.
Should I get pre-approved before house-hunting?
Absolutely. Pre-approval is required before touring homes so that you understand your options and a pre-approval must be submitted with your offer. A pre-approval with a well-known lender will help Jovanka negotiate in competitive areas like Lincoln Park and Lakeview.
What will my monthly payment be?
Your mortgage payment includes principal, interest, taxes and insurance or PITI. You have access to custom estimates based on the property price, Chicago neighborhood tax rates and HOA fees via the Compass app. Jovanka will guide you through how to estimate your monthly payment.
Which neighborhoods fit my lifestyle?
From vibrant Lincoln Park and Old Town to Roscoe Village and Lakeview, Jovanka helps you compare schools, amenities and commute times to choose a home in a neighborhood that fits your lifestyle. With 77 neighborhoods in Chicago, Jovanka recommends spending time in the neighborhoods that are of interest to you and trying to imagine what your life would be like on a day-to-day basis. Going for brunch and walking around to area shops to get a feel for the vibe is highly recommended.
How old are the home’s major systems?
Always ask about roof, HVAC, electrical and plumbing ages whether buying a single family stand alone home, townhome or condo. Jovanka connects you with trusted inspectors to test all major systems and protect your investment.
Are there hidden costs or risks?
Chicago homes can involve deferred maintenance, flood-zone, special assessment or zoning considerations. Jovanka ensures you review all disclosures before buying.
What’s included in the sale?
Built-ins, fixtures and most standard appliances usually stay; freestanding appliances like a freezer in the garage may not. Jovanka clarifies everything in writing to avoid surprises.
What are closing costs in Chicago?
Plan for 2 – 6 % of the purchase price. Jovanka provides a detailed estimate before you submit an offer.
Should I get a home inspection?
Yes — it’s vital for identifying defects or repairs and negotiating credits. Jovanka recommends qualified inspectors throughout Chicago.
How competitive is the market?
Inventory in Lincoln Park and surrounding areas remains tight. Jovanka uses timing and offer strategy to help buyers succeed in multiple-offer situations. Jovanka has access to off-market properties in Lincoln Park and Downtown Chicago before they hit the market allowing you to potentially tour and make an offer before it goes public.
How can I make a strong offer?
Be pre-approved, act quickly, increase earnest money, be flexible on the closing date and limit contingencies when appropriate. Jovanka structures offers that stand out.
What contingencies should I include?
Inspection, attorney review and financing are standard. Jovanka advises on which are essential for your risk comfort.
What if the appraisal comes in low?
You may renegotiate or cover the difference. Jovanka guides you through solutions to keep your purchase on track.
What are property taxes and HOA fees like?
Chicago property taxes vary by neighborhood but a good estimate is roughly 2% of the purchase price. Jovanka will obtain current figures for each property and whether the amount includes any exemptions.
How soon can I move in?
Most closings take 30–45 days from the date of contract acceptance. However, the overall timing from starting your home search, going under contract to getting the keys at closing can take 8-12 weeks or longer depending on what you are looking for. Some buyers can take years to find the right home. Jovanka coordinates timelines between lenders and attorneys for a seamless transition.
What’s the resale potential of this home?
Lincoln Park and Lakeview consistently rank high for resale value. Jovanka analyzes historical trends and future growth plans. However, values fluctuate and nothing is guaranteed.
Do I need renovation funds?
Older homes may need updates. Jovanka helps you budget and find contractors for post-purchase projects.
How do I choose a buyer’s agent?
Work with professionals who communicate and deliver. The most valuable things a buyer’s agent can offer is access to off-market properties and local boots on the ground knowledge of the market. Jovanka has access to off-market properties in Lincoln Park and Downtown Chicago before they hit the market allowing you to potentially tour and make an offer before it goes public in Chicago’s competitive market via Compass Private Exclusive and Coming Soon listings. A buyer’s agent is your personal team lead communicating with attorneys, lender, home inspector, insurance agent, title company, seller’s agent and most importantly YOU on the progress of your home purchase!
What is earnest money?
A 1 – 5 % deposit showing you are making a serious offer. The earnest money is part of your downpayment and is due upon contract acceptance. Jovanka ensures it’s protected under contract terms.
What title or legal issues should I check?
Always verify a clear title and disclosure compliance. Jovanka works with experienced attorneys to safeguard your purchase.
What should I do before closing?
Transfer utilities, update insurance, work with your lender to satisfy underwriting requirements, prepare funds for downpayment and closing costs and schedule movers. Jovanka provides a new-home checklist so nothing is missed.
Why work with Jovanka Novakovic?
As a Lincoln Park and downtown Chicago real estate expert, Jovanka offers personalized guidance, data-driven negotiation, and local connections to help you buy confidently.