Lil' Buddy's Blog - The Chicago Real Estate Market from the Point of View of a Little White Dog!
Woof!
It's tough being the Little White Dog (a Pure-Bred Pekingese, if you don't mind) of two crazy, yet very successful, Chicago Real Estate Professionals, and leaders of the respected Dean's Team, selling Real Estate in Chicago and all its suburbs. It's amazing, however, how much a little guy like me can learn about the Chicago Real Estate Market just by hanging around Dean, Sue, and our human Team members (I'm still the Official Dean's Team Motivational Mascot, you know).
Every once in a while, I'll put down my bone, run to the laptop, hop on the chair, and write here the first things that come to mind. Hopefully, you'll find this information useful.
Remember, too, that anyone with four paws can also contribute to my Buddy Blog - just don't tell your humans you're using the internet again!
Here's what is happening in the Chicago Real Estate Market, today, Thursday, May 3, 2007, from my Little White Dog's point of view:
The Chicago Real Estate Market is correcting downward, as it has in many areas of the country. On average, current home sale prices seem to have ticked down an average of 3%, depending on condition and location, versus the same period in 2006.
While rates remain low by historic standards - currently averaging less than 6 ½% for a fixed rate loan - inventory levels of single-family homes, condos, and investment properties have nearly doubled over last year, market times have increased, and buyers are becoming more selective. As a result, sellers have had to settle for less return. Many buyers, however, are driving bargains not possible even a year ago. Indeed, now is the time to consider buying a new home or investment property. If you're selling, however, pricing right is critical!
YOUR ACE REPORTER ON FOUR PAWS,
BUDDY HOLLY MOSS
P.S. Our Team sends condolences to the family of our good friend and colleague, South Carolina Real Estate Agent Cheryl Hardy. Cheryl succumbed to a two-year battle with cancer on April 1st. She was 50. Her positive spirit and track record of success and service to her community inspires all of us who knew her.
