As a 13 year veteran of the real estate community, I often have been asked "is this the market bottom?" and "when should I invest in these distressed sales for maximum return?" I've delayed my enthusiasm until recently, and this is my first post related to the topic. I feel today's (Jan 20th 2012) housing report reveals some true opportunity and reason for excitement.
The National Association of Realtors reported today that the volume of home sales hit an 11 month high in December, while the # of units on the market (available inventory) dropped to its lowest since March 2005. At the same time, home prices reported another drop of 2.5% from a year ago, making the total price decline for 2011 over 2010 to 3.9%. Home prices on average have not been this low ($164,500 nationally) since 2002.
Given these indicators--and my observance in the Chicago market that some of the best foreclosure deals now seem to be few and far between or sold within a day with multiple offers, could this be the true bottom of the market and the ideal time to buy property?
With interest rates hovering around 4% aka record lows, and a continued drip of bank owned and short sale distressed inventory to choose from (albeit not the large range of choices we saw even 6 months ago) I feel this may indeed be the opportune time to invest in distressed property.
While outside factors such as the European debt crisis and Middle East unrest/oil issues remain a potential factor in recovery hinderance, and no one can truly gauge the market bottom or recovery until after it has taken place, these statistics show something is indeed shifting and it may be time for investors and home buyers to take action. For your own custom search via email or to discuss this further, please contact me: Nick@NickLibert.com or 773.980.9339.
--Nick
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
Catch a encore airing of my episode of House Hunters on HGTV tonight (Tuesday Nov 9th) at 630 pm Central time (730 pm Eastern & Pacific) my clients Tom & Lindsey are transitioning from a small 2 bedroom condo in Chicago's dynamic Wrigleyville nighborhood to their choice of sprawling lawns & gorgeous homes in the suburb of Gurnee. We had a blast filming & we hope you will watching
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
MAGNIFICENT DUPLEX @TANNERY LOFTS! 2BR/2BA BRIGHT TOP FLR CRNR UNIT W/PVT WRAP AROUND DECK. HDWD FLRS, HIGH CEILINGS, SPIRAL STAIRCASE, BUILT-IN BOOKCASES, MAPLE CABS IN KIT, FIREPLACE, 2 AMAZING WALK-IN CLOSETS IN MASTER, ORGANIZED CLOSETS THRUOUT, W/D IN UNIT, GARAGE PARKING INCL! CLOSE TO DAMEN SHOPS & RESTAURANTS IN BUCKTOWN, NEAR LINCOLN PARK, KENNEDY EXPY, & METRA. FAB LOCATION!!
MLS# 07917382 $324,900 2 Bed, 2 Bath 2221 N Lister Ave Chicago IL, 60614
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
Beautiful 2nd floor condo with large rooms. Tons of closets w/ organizers. Separate laundry room with full size washer and dryer. Remodeled and updated kitchen with large walk-in pantry, ceramic tile. Cozy Living Room with mantle and heat n glow fireplace. Sliding doors lead to a very private wooded area w/ large secured storage unit on balcony. Large master bedroom with private bath. 1 Car Garage. *SHORT SALE*
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
MAGNIFICENT DUPLEX @TANNERY LOFTS! 2BR/2BA BRIGHT TOP FLR CRNR UNIT W/PVT WRAP AROUND DECK. HDWD FLRS, HIGH CEILINGS, SPIRAL STAIRCASE, BUILT-IN BOOKCASES, MAPLE CABS IN KIT, FIREPLACE, 2 AMAZING WALK-IN CLOSETS IN MASTER, ORGANIZED CLOSETS THRUOUT, W/D IN UNIT, GARAGE PARKING INCL! CLOSE TO DAMEN SHOPS & RESTAURANTS IN BUCKTOWN, NEAR LINCOLN PARK, KENNEDY EXPY, & METRA. FAB LOCATION!!
MLS# 07917382 $324,900 2 Bed, 2 Bath 2221 N Lister Ave Chicago IL, 60614
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
STYLISH & MODERN FURNISHED CONVERSION IN DYNAMIC EAST LAKEVIEW! PRISTINE 1 BR SHOWS LIKE A MODEL!QUIET COURTYARD SETTING*TOP FL UNIT IS FLOODED W/ SUNLIGHT! 100% REHABBED IN 06*LARGE MBR W/AMPLE CLOSETS,CROWN MOLDING, CENTRAL H/A+IN-UNIT W/D,HI END LIGHT & BTH FIXTURES. KITCHEN W/SS APP. SOLID CHERRY CABS & GRANITE COUNTERS. STEPS TO THE LAKE, LINCOLN PARK ,CTA, BOUTIQUES, RESTAURANTS & WRIGLEY. PKING OPTIONS
MLS# 07787705 $149,900 1 Bed, 1 Bath 534.5 W Belmont Chicago IL, 60641
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
STEPS FROM LAKE! COMPLETELY REHABBED W/ DESIGNER FINISHES. FEAT: SUNNY EXPOSURE, NEW WINDOWS, NEW HDWD FLRS THROUGHOUT, HUGE UTILITY CLOSET W/ STEAM W/D, NEW DOORS, LIGHTING, CROWN MOLDING, EPLHA CLOSETS, MARBLE & GRANITE KITCHEN, SS APPLIANCES & WHIRLPOOL TUB. DON?T MISS OUT ON THIS GEM OF A HOME! JUST STEPS TO THE LAKE, TRANSPORTATION, ENTERTAINMENT AND SO MUCH MORE! NEIGHBORHOOD PKG OPTIONS AVAIL.
MLS# 07889980 $199,900 2 Bed, 1 Bath 647 W Sheridan Unit 4E Chicago IL, 60613
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
My House Hunters episode, featuring my clients Tom and Lindsay searching with me for the perfect home in Gurnee, IL will air again tomorrow (Sept 8th) on HGTV. For more information on our episode, check out the link below:
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
STEPS FROM LAKE! COMPLETELY REHABBED W/ DESIGNER FINISHES. FEAT: SUNNY EXPOSURE, NEW WINDOWS, NEW HDWD FLRS THROUGHOUT, HUGE UTILITY CLOSET W/ STEAM W/D, NEW DOORS, LIGHTING, CROWN MOLDING, EPLHA CLOSETS, MARBLE & GRANITE KITCHEN, SS APPLIANCES & WHIRLPOOL TUB. DON?T MISS OUT ON THIS GEM OF A HOME! JUST STEPS TO THE LAKE, TRANSPORTATION, ENTERTAINMENT AND SO MUCH MORE! NEIGHBORHOOD PKG OPTIONS AVAIL.
MLS# 07889980 $209,900 2 Bed, 1 Bath 647 W Sheridan Unit 4E Chicago IL, 60613
Nick Libert / Ryan Lee Team EXIT STRATEGY REALTY 773-980-9339
As always, I appreciate your Chicago area real estate referrals and would welcome the chance to discuss Exit Realty career opportunities with interested professionals!
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