Posts Categorized: Market Insights

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Chicago Employment Continues Its Nosedive

The preliminary September labor statistics for the Chicago metro area show that employment is back on the decline after several months of improvement. 367,000 jobs have been lost since the peak in July, 2007 and 217,000 jobs have been lost in just the last 12 months. That’s a lot of potential homebuyers. We are now… Read more

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Are Short Sales Dead Until January?

As if short sales weren’t already taking forever to get approved there is currently a belief that lenders are holding off on approving short sales until the beginning of next year. Why would they do this? Incentives. Once they accept the short sale they have to take a loss – the difference between what the… Read more

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Home Prices To Fall Another 11%?

I don’t think so – at least not in Chicago. CNN Money came out with a story today about a Fiserv forecast that home prices will fall another 11.3% nationally by June 2010. Fiserv is a financial information and analysis firm that tracks the housing market among other things. Having personally declared a bottom to… Read more

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Hinsdale Illinois Real Estate Market Conditions

Some quick tidbits on the real estate market in Hinsdale. As of  September 8th 2009, there were 322 homes on the market.  Off the 322 listings, 7 homes are temporarily off the market 35 are under contract 20 are short sales (8 under contract now) The average single family home price is $1,299,687.  The median… Read more

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Housing Prices To Fall Another 25%?

In a CNBC interview today, banking analyst Meredith Whitney cautioned that home prices could drop another 25%. Her argument is based upon the fact that unemployment, currently at 10%, is now driving foreclosures and she doesn’t see it getting any better any time soon. Meredith Whitney is a force to be reckoned with because she… Read more