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Cover story: 2018 real estate predictions

by Blake Boldt

The economy

How will the economy affect the local housing market and your company?

Jennifer Alter Warden, Baird & Warner: We expect 2018 will likely be dominated by the same market trends we saw in 2017. All signs show the economy will continue to be solid even with a slight increase in interest rates. Prices will see a moderate increase of 2 to 3 percent, and the biggest challenge will continue to be the lack of inventory. Our mortgage and title insurance divisions will see continued growth, with those involved in purchase transactions rather than refinancing faring better as home sales momentum continues. Overall, Baird & Warner is poised to maximize 2018 by expanding in key markets, adopting technologies to streamline transactions, and recruiting top agents and employees to our team.

Michael Golden, @properties: Given our level of growth, we are optimistic that 2018 will be a stronger year than 2017, though we do not anticipate any huge increases. In our business in general, and with the new technology available to consumers, we continue to help our agents be better positioned and have support so that they can go out in the marketplace and justify their existence and show their value while also staying ahead of the competition.

Michael Sato, Jameson Sotheby’s International Realty: We see Chicago’s real estate market to be strong overall — although we will have to work through a high supply of new luxury apartment rentals, coupled with a state and city that do not have any money. Accordingly, there may also be some unforeseen ramifications from the new tax laws. However, we at Jameson Sotheby’s International Realty have positioned ourselves to be a dominant player in the high-end market and we expect our sales over $2 million to double in 2018.

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