Chicago NW suburban market still declining.......

showing activity up and prices continue to slide.....high unemployment. aprox 50% of sales are distressed properties. Foreclosure and short sales dominating the market..influencing price point decline for traditional sales. I know agents with 100+ properties in personal inventory...and less than 10% under contract. High maintanence and low demand. perhaps another 10% price dip between now and new years. short sales still averaging 6 months or longer...i have one since last july and still no negotiator assigned by lender. My buyer, extremely patient...however, he's thinking to drop price 10K due to extended market time and house is vacant thru-out winter. He has a point!  thats about it for now.....happy easter to all !