Showing posts with label Housing prices. Show all posts
Showing posts with label Housing prices. Show all posts

Saturday, July 23, 2022

City of Chicago sees slowing real estate activity in June 2022, prices still up


Chicago Association of Realtors City of Chicago numbers show the slowing real estate action in June 2022 (year over year).  New listings, existing listings, closings were down.  Median prices were up slightly and market times were down. 


The grip of rising mortgage interest rates may have slowed purchase activity and closings year over year. However this has been little relief to Chicago buyers facing high home prices and stiff buyer competition.  

Anecdotally speaking it remains difficult to secure single family homes for our buyers without a a multiple offer bidding war. New listings may be up about 6% this June compared to last but June/ July trickle of expensive listings is still frustrating for buyers.

Tuesday, November 13, 2007

The Five Stages of Buying in Chicago

Although not as dire as the Five Stages of Dying (or Grief), Buying in Chicago for many of my cients does take a trained professional to work through these physical and emotional stages:

The Doctor is IN

Denial: "I can't believe my lease will be up", "A two bed, two bath in Lincoln Park can't cost that much... can it?", "What do have for a single family in Bucktown for $500K...there has to be something?", "Can we come in $75K under?", "Multiple offer?".

Anger: "I'm not paying that!", "What are they crazy?", "Tell them we're walking over the GFCI outlets!", They paid what in a multiple offer!?", "If they want to sell it, this is what they get!". "Can't my Realtor find anything with a private roof-top for under $350K!?"

Bargaining: "Maybe they can leave the plasma and surround...", If they need us to close later, than we'll need a $3,000K credit to get out of the lease", "Well, the one on the first floor just sold, so maybe this is a good price", "Do you think the seller's will talk again after we walked over the GFCI outlets?", "Let them know we are interested if the contract falls through..."

Depression: "We should have bought that place.", "There's suppossed to be all this inventory, so why can't we find anything?", "There's nothing coming on the market".

Acceptance: "It looks like we'll have to bump up our price-point to get what we want", If I drop the second bath, I can get the location I really love", "So what you're telling me is the building sold-out for list price?", "I love the penthouse units, but they just won't work with a kid on the way... let's get that duplex-down in Bucktown we liked".


With moral support and the correct treatment, you'll be a home owner too.

Monday, September 10, 2007

A few stories on housing prices, mortgages... Chicago and otherwise

I don't usually post on national or even Chicagoland housing prices in general. There are a thousand voices for that. I like to keep it specific to the properties my clients are looking at. In Chicago, it comes down to the block... and the actual property. Homes can be very diverse in a small radius.... prices just as diverse.

However, here's a group o' good reading on the subject:

Chicago: No boom means no bust?

Home Prices up or down?

Hurdles not insurmountable