Sales up, Prices down

The latest NAR home sales stats were released. They validated what we have been feeling in our local market.
More homes (condos, houses) are being sold. The sold price of these homes are down.

Buyers are feeling this in our area as well (low) priced properties are coming on the market. They are recieving multiple offers, and sometimes are selling for over the list price. We know first hand that sales are increasing - probably because sellers are becoming more savvy and are pricing lower to match the market demand.

Whether you are buying or selling, or just curious about the market - this is good news.

Sanity in the housing market

I would like to share something with the blog readers out there.

I am passionate about residential real estate.

I believe first and formost that real estate is "home". It is our place of refuge, a place for our family and friends. It is where we live, love and dream.

Secondly, I believe that real estate is an investment. Our home is often the nest egg (now you know where that term came from, nest =home) that supports us and our families financially.


I believe that our society is once again viewing real estate as our foundation, not the tip of an investment pyramid. As lenders return to basic lending principles, consumers will be able to buy a home with confidence. Or, rent a home and have some confidence that their landlord will not face foreclosure and leave them homeless.

If you are thinking of buying a home now (whether you are a first time buyer or experienced buyer), here are a few things to consider:
-Prices in Chicago lakefront neighborhoods are at their lowest in a couple years (depending on building & area, this means today's price is the same as the price 2 years ago -- or price increases are slower than they were previous to 2 years ago)
-You have more properties to choose from than you had in the housing frenzy
-If you are a qualified buyer, there is mortgage money available and low fixed rates

I'll see you out there!

Baby It's Cold Outside

Hello from Chicago. We just experienced our coldest weekend of the year. Let's hope that was the coldest weekend of the entire year! Here in downtown Chicago our temperatures are more temperate than even 40 miles west of Chicago. The waters of Lake Michigan can be very kind to us, keeping our air temperature warm in the winter, and a bit cooler in the summer. But 0 degrees with minus 25 degrees windchill is cold.

But....I sense that the real estate market is heating up. I have had a uptick in the number of showings on my listings, and even an increase in offers. That means inspectors are busier, attorneys are getting contracts, lenders are getting loan applications...........

So, if we all have a positive attitude, I think we can see the housing slump end very ungracefully with a bang! If you are interested in buying - call your agent and get out there. If you need to sell, there are properties going under contract and you will be one of the "new" properties on the market. So call your agent and get on the market!

Day 1

This is the first post in my blog. It is an interesting season for the real estate market. Buyers and sellers are both busy with parties, shopping, and family. I am continually talking to people who are preparing to make a move in 2008. Now is a great time to be keeping tabs on those credit card balances and thinking about what type of home best suits you. Or if you are planning to sell, now is the time to be making the repairs and improvements that will make your home stand out.

Enjoy what is left of the weekend!