ChitownLiving | Chicago Real Estate + Life

This Sunday’s Chicago Real Estate section was full of great info for real estate buyers and sellers. Best issue I have read in a while.

First article that captured my interest was Mary Umberger’s article, Area for-sale listings: The first 100 days in which days on market for the Chicago area were broken down. Great to see the numbers in line with the statistics I provide monthly on ChitownLiving.

The key word in Chicago real estate this year was, and continues to be, inventory. Lew Sichelman’s article, ‘Priced to sell’ is all in timing was a great overview of using the absorbtion method when pricing a home. Real estate is a product just like any other and is subject the forces of supply and demand. The absorbtion method is a great way to assess inventory levels in your market/neighborhood.

Sellers trying to market a property on the ‘L’ or other location challenged property, rest assured, there is a market for your home. Having sold several properties that backed up to the ‘L’ I know the challenges. Chuck Green’s article, No place like home, addresses the issue.

And one more. Marilyn Kennedy Melia discusses the trend of Chicago home sellers becoming landlords in her article, Sellers turn landlords amid sluggish market. I can attest to this as I have a couple clients that have decided to rent their places rather than sell at a loss or break-even. I manage their properties for them. For those investors and sellers who want nothing do with with being a landlord, our team has a small building and single unit property management service.