Can You Feel a Shift in the Marketplace in the Last 30 Days?

by Chicago Agent

Lauren Mitrick
The Mitrick Team Real Tek Realty
Gold Coast

The amount of listings we have far surpasses the number of buyers we are representing, which is the opposite of where we were last month. Our listings are moving; however, to move a property in this market, condition and price are critical. Do not overprice! If its vacant – stage it. Rentals have picked up tenfold in the last 30 days as well.

Matt Crow
Broker Associate
Huntley Realty

It’s finally the kind of weather people expect and that always creates a spike in showings. While we do have a fairly high inventory of homes, the vast majority of my personal business and that of our office is in Del Webb Sun City Huntley. We have just started to gain the interest of the baby boomers and I see our business continuing to increase in the coming years. Despite a decrease of nearly 39 percent in transactions in the Northwest Suburbs, my office is proud to post a 6 percent increase to date for 2008. The past 30 days has shown sellers that homes that are priced right and marketed well do sell.

Meghan O’Keefe
Century 21 Sussex & Reilly
Near West Side

I have definitely felt a shift in the market place in the last 30 days. I am seeing a lot of buyers requesting more information about FHA loans, which in my opinion is the new subprime option for those who don’t have a substantial down payment. It is interesting as well that a lot of developers who normally would frown on FHA buyers/loans are now open to getting their projects FHA approved.

Tony Jordan
Mortgage Banker
Franklin Bank S.S.B.

I call it “the real momentum” that has started. Warmer weather, kids out of school, time off for summer coming soon, lower prices and expanded conventional programs are getting buyers out looking. The sellers, whether they are families or financial institutions, are just responding to that.

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