Real Estate Prices in Chicagoland at lowest point since housing bubble burst
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Uploaded by MaryWallaceRealtor on Feb 23, 2011
Realtor Mary Wallace discussed an article that came out in the Associated Press dealing with 11 major markets in the US having real estate values drop to the lowest level since the housing bubble burst. Chicago was identified as one of those markets. Mary discusses the benefits of buying and how foreclosures and short sales are becoming increasingly common in the marketplace. For help buying/selling/renting, contact Mary Wallace at 708-203-1412, marylistens@gmail.com or www.MaryListens.com. To see if you can get pre-approved, contact Michael Rayniak with Pacor Mortgage at 708-529-9619 or mrayniak@gmail.com
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I'm an IT guy that works closely with a real estate company. What you speak is Chinese to me, it sounds like science and it's fascinating.
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Well if a Realtor says now is a good time to buy, it must be. I like the part about helping sellers rent out their house. So if I buy and then have to sell a few years later, will I too have to become a landlord?
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Experts have been saying that the market in Chicagoland should bottom out in the next year or two, but that we can expect values to drop another 5%. After we bottom out, then the market is expected to stabilize for another 2 years, then we should start to see normal increases in value which are 2-4% per year. I suggest that anyone buying now should plan to hold onto their property for at least 5-10 yrs because that is when I think the market will have recovered.
MaryWallaceRealtor 1 year ago