Chicago Real Estate | Making the Fix in the Windy City
Chicago real estate has long been a barometer for the rest of Illinois. But now, in the recession, the city is behaving out of character. One day things might look promising; the next, not so good. With the rest of the state looking for guidance, it is easy to see how many realtors are concerned. But the truth is the market is trying to work itself out. It is vulnerable to the economy. It is aggressive in its method. And it will not go away. Gently. So, the big question is when and how the market will recover, not if it will recover. In today’s real estate market, everyone wants to know if we have hit the bottom of the declining market. The only way to really know the answer to that question is to see property values start to level off and even appreciate some. The national media would have you believing that property values in Chicago have declined 10% from last year to this year. The national media does not take into account many, many factors that are extremely important: neighborhood, school district, home type, etc. Most people want to know if their particular property has declined. The answer to that is not that simple. In order to calculate the value of a home in a declining market one has to be careful to compare apples to apples. Meaning, you have to compare a 2-bedroom condo to another 2-bedroom condo in the same area. You cannot compare a single family residence to a condo. You also cannot compare a similar condos in two different neighborhoods. Real estate books are currently on sale at a 45% discount until May 31, 2009. Additionally, each purchase will come with a free eBook to help educate neighbors who have disputes with neighbors. Titled: Neighbor Law: Fences, Trees, Boundaries & Noise “The New York Times called it a book that gives a practical, no-nonsense approaches to handling neighbor disputes.� “The Chicago Tribune said, ‘If you have problems with the neighbors, this is your bible. The ebook usually sells for $16.99, but it’s free with every purchase made. So there you have it, Chicago real estate right now is a mixed bag. The best decisions are made by informed investors. Make sure you have enough capital, the right capital and a secure job.About the Author:
Michael Russell writes about about a variety of subjects. This article discusses Chicago real estate. For more information, visit the Real Estate Book.
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