Some Predictions by the Pros
Active Rain Corp., a blogging platform for real estate agents and others working in related fields, polled 1835 agents on their opinions of the market. Are there local bubbles of strong sales, are there depressed areas that are continuing to deal with foreclosures, what did we think. Yes to both, but the positive news is that the industry feels the tipping point is very close,quite possibly even 2012.
Locally, in the Chicago North Shore communities of Winnetka, Wilmette, Kenilworth, Northfield and Glencoe, things have picked up - almost to a steady clip. Prices are staying flat or even creeping up an iota, but more importantly, units are moving. Most serious sellers have come around and understand that in order to sell, the only hope is to price appropriately - feeling out the market is no longer an acceptable strategy and buyers see right through it.
Buyers are more serious as well, there are fewer sales that are falling out of contract and the fact is, qualified buyers are getting loans. Worries about unemployment and the debt crisis have not disappeared, but the clarion call to buy real estate now is strong in this part of Chicagoland. I expect closed sales in the next few months to be significantly higher than last year at this time.
Below is the infographic that Active Rain produced to show the results of the real estate survey:
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Data provided by ActiveRain.com. Join 215,590 Real Estate Agents on the world's largest Real Estate Social Network.
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