Everyone wants to know: what’s the bottom line for this year, and what will happen next year?
The data we’ve seen for 2011 is positive – albeit ever so slightly – which we think means, at the very least, that 2012 will be a better year than 2011. This year, numerous segments of real estate experienced positive growth, including price reductions per month, absorption rates and highest priced properties sold. Slight inclines all across the board show that 2011 was a better year than 2010, and this incline should continue, making 2012 a better year than 2011.
Anecdotal reporting may vary from agent to agent, but the 15 top industry professionals we interviewed in this cover story each have unique insight to the market. From association presidents and co-chairs, to presidents of lending companies and managing brokers, to veteran developers and short sale specialists, they each made predictions for next year. Read their answers, look at the data, and make your own predictions for next year.
Thad Wong, Co-Owner, @properties
David Balcerzak, Vice President of Sales and Marketing, Pulte Homes
Victor Ciardelli, President, Guaranteed Rate
Neil Piket, Broker, John Greene Realtor
Nicole Fabiano, Founder and Lead Negotiator, Home Solutions, Inc., A Full Service Short Sale Company
Paul Martis, Co-Chair MORe Commercial Investment Committee, Broker, Coldwell Banker Residential Brokerage
Janet Owen, Agent, Prudential Rubloff
Steve Stapleton, Senior Vice President, Mortgage Services III
Dan McLean, President, MCL Companies
Bobbie O’Reilly, Broker/Owner, Weichert, Realtors-McKee Real Estate
Tony Saviano, Broker/Owner, Realty Executives Experts, Hoffman Estates
Liz Brooks, Vice President of Sales and Marketing, Belgravia Group
Geri McCafferty, Realtor/Associate, Brush Hill Realtors
Jason Palermo, Broker/Owner, RE/MAX Vision 212
Bob Floss, Bob Floss & Son Realty, President, Chicago Association of Realtors
Mike Prodehl, Executive Vice President, Coldwell Banker Honig-Bell