The news is finally positive for a change according to CNN new housing starts were up by 17.2% over last year.
1st time home buyers appear to be leading the way. Existing home sales rose 2.9% while the median sales price fell 15.4% to $170,200. It appears the decline is near the bottom, however some experts are saying that it's not over yet.
If the wave of foreclosures will stop we may see a slight return to a more sane buyers market. It is amazing the deals that are to be had out there. There is currently a ranch home in Schaumburg that was selling for $300,000 in 2007, a similar home is currently for sale as a foreclosure for only $180,000.
There are many good bargains in real estate right now if you have the guts to hold on to properties for at least 5 years. Curious about the Chicago real estate market? You may search homes Barrington IL Homes for sale online 24/7 for free.
What is really going on in the real estate market from a professional real estate agents prospective. In this blog you will receive information about the real estate market that is based in facts and figures, rather then hipe and salesmanship. My only agenda is to give truth based on real Chicago Real Estate Market numbers.
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Wednesday, June 17, 2009
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