I'm working with four sets of buyers, all of them looking for condo homes north of the Chicago River and within eight blocks of Lake Michigan. Together, my buyers represent some interesting demographics.
These folks are looking at properties ranging from $300,000 to nearly $1,000,000. Two of these buyers are first-time buyers planning to take advantage of the first-time buyer's $8,000 tax credit. One of them is a couple looking for an investment property. And the fourth couple is looking for a property for their upcoming retirement years.
What does this suggest? Well, I think it says a few important things:
- Confidence in the Chicago real estate market is beginning to creep upwards, once again. Can I get an "amen"?
- Downtown Chicago is a very desirable area in which to live. Like we didn't already know that? :)
- Housing inventory is decreasing as the market improves and buyers close on their transactions. Now is the best time to find the best deals. Especially for first-time buyers using the $8,000 tax credit -- it's set to expire on November 30 of this year.
Are you interested in what's going on in your neighborhood? Drop me a line. I'll fill you in!
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