Archive for the ‘North Shore real estate sales’ Category
Foreclosures in Chicago and North Shore on the Rise
Foreclosure filings continued on their record pace in the 4th quarter of 2009*. The general belief in the local real estate industry is that Chicago and North Shore suburbs will experience more foreclosures in 2010 than in 2009. At least, there will be more foreclosures that are actively marketed in 2010 than 2009.
What is the silver lining? This is a great time to invest in distressed properties! A buyer must be selective in the process and find a property that works within their personal budget and provides positive cash flow. Generally speaking, if a buyer/investor is willing to put a little work into rehabbing and managing a property, then there are ample opportunities for cash flow positive investments.
Please contact me with any foreclosure questions in Chicago and North Shore.
*Chicago Tribune Article- Foreclosures Soar in 4th Quarter
New Homes Sales Market
Evanston, Wilmette, Winnetka existing home sales helped by new construction slump
In a recent article in Crain’s Chicagobusiness.com, the local new home sales market was reported as being “obliterated”. On the surface, this is more discouraging news for the local housing market. However, the silver lining, as we Realtors® are programmed to promote, is that existing homes will not have as much competition in their local markets. This is especially important in many of the North Shore markets where many of the homes were built around 100 years ago.
The reduction in the supply of new homes and the reduction of homeowners willing to put their homes on the market, in turn, has boosted the sales of homes in specific price ranges. Even though demand has been reduced overall in the past few years, it has managed to outpace or stay even with supply in some neighborhoods and price ranges for single family homes.
Please contact me for listings in these North Shore communities of Evanston, Wilmette and Winnetka.
Are Evanston Area Real Estate Sales Heading Up?
There are lots of opinions on just what kind of shape the market is in. Below is a chart comparing real estate sales in Evanston, Skokie, Wimette and Rodgers Park in 2008 and 2009. looking at the trends we may have reached bottom.
The combination of improving sales, low interest rates and tax credits available are indicating it might just be a good time jump into the market.
