Comments on: How to Price a Home in Chicago’s Depreciating Market

By: Neighborhood Anxiety: Foreclosures, Short Sales, and Your Property Value | The Chicago 77

Tue, 17 Nov 2009 17:58:50 +0000

[...] is critical that you fully understand all comps in your neighborhood and that you have your pricing built on actual data. No one can argue against [...]

By: Numbers Matter When Looking at Housing Price Drops | The Chicago 77

Wed, 15 Jul 2009 17:48:05 +0000

[...] Granted, prices are dropping in the Chicago land area. We obviously have not hit the bottom of the market. The only way to know we have hit the bottom is when we see appreciation on properties. The problem with the article is that it does use Trulia as a source. Prices may have dropped in certain areas but it does not take into consideration the difference between condos vs single family housing. It also uses the average number. The average number in statics takes into consideration all numbers; this includes foreclosures as well as short sales. These transactions are not arms-length transactions and cannot be accounted for in general real estate sales. A better number to be used in such an analysis is the median price point. The median is the number that is the most accurate and used by appraisers to adjust for market downturns. [...]

By: Chicago’s Real Estate Market is Declining, But Is Your Home? | The Chicago 77

Wed, 20 May 2009 18:23:31 +0000

[...] tuned…as I do more declining market analysises, I will post the [...]

By: Distressed Sales vs. “Traditional” Sales Numbers | The Chicago 77

Mon, 20 Apr 2009 18:02:03 +0000

[...] evaluating prices of properties in a declining market, appraisers use median prices for a neighborhood rather than averages. Averages can be thrown off [...]

By: Property Value Dropped? Your ITV Probably Hasn’t. | The Chicago 77

Mon, 06 Apr 2009 15:20:59 +0000

[...] an attempt to save money, more and more of my clients have called to let me know that their property values have dropped so they expect their insurance premiums to do the same. My response to these comments usually [...]

By: Who Is To Blame? | The Chicago 77

Who Is To Blame? | The Chicago 77 — Wed, 18 Feb 2009 14:17:17 +0000

[...] knows there is a huge housing crisis. Foreclosure rates are higher than ever, and property values are plummeting as a result. There?s plenty of blame to go around, from Wall Street, to the banks and lenders, to [...]

By: Elbow Grease Can Decrease Market Times and Increase Selling Prices | The Chicago 77

Mon, 09 Feb 2009 18:48:03 +0000

[...] and realistic to what the market will bear, then you’re behind from the beginning. Reviewing recent comparable home sales and listings in your neighborhood from the previous 3 to 6 months with your real estate agent [...]

By: An Agent’s Thoughts on Realtor.com | The Chicago 77

An Agent’s Thoughts on Realtor.com | The Chicago 77 — Tue, 03 Feb 2009 16:37:07 +0000

[...] today’s rough economic times it makes it more difficult to become a member of Realtor.com when an agent can post their listings, [...]

By: Catherine Brennan

Catherine Brennan — Tue, 27 Jan 2009 21:03:22 +0000

Thank you Katie for the calculations – this will help my clients better understand accurate pricing from their vantage point (as a buyer or a seller)

By: Rod Holmes

Rod Holmes — Fri, 23 Jan 2009 19:06:24 +0000

Thanks for sharing from your little bag of tricks!