Britta Rivera Venture

CHICAGO REAL ESTATE NEWS & MORE

2012: CHICAGO LUXURY HOME SALES SURGE; MULTIPLE OFFERS ARE BACK!

The CHICAGO housing market has been volatile during the past few years.  But new reports suggest the luxury housing market is improving and high-end buyers are out in full force.

Multiple offers have increased in the depressed market in recent months.  But buyers are now also experiencing competition in the upper-end luxury home market.  Cash buyers have snatched up great investment properties for a while and now seem to be pulling out their checkbooks for million dollar homes as well.

Some buyers have been amazed to find that they are not the only ones bidding on a home and even more shocked when the lose it to another offer.  But this is exactly what’s happening throughout the city and it seems to be getting stronger each month.

This is great news for the Chicago housing market.  Sales of higher priced homes will offer a needed balance to offset the lower purchase prices.   It seems that the flux in the stock market has many putting their cash in real estate again, with the anticipation of climbing pricing.

Many believe that the crash of the housing market will rebound in the positive direction, just as quickly as it came to a halt.  Low interest rates and a surplus inventory cannot last forever.

A year from now I expect the interest rates to surge and the housing market to stabilize.  Sellers who did a short sale within the past couple of years, will become less fearful of buying again and tired of paying high rents.  The premium properties will be less abundant, causing even more multiple offer situations.

If you are looking to take advantage of the opportunity of a lifetime…you may want to act fast.

Visit http://brittarivera.koenigstrey.com/ to search Chicago homes today!

Advertisements

July 9, 2012 - Posted by | CHICAGO REAL ESTATE | , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: