A Solution-Oriented Market

October 5, 2009

Daily Real Estate Updates

sudler-sothebys-logo5 October 2009 ? As we enter into the final quarter of the year, the writing is on the wall for how the Chicago real estate market will end up. There is be an increasing number of transactions happening at lower price points. For sellers it is the realty of pricing and the competing inventory. For buyers it is getting the best value, having the property appraise, and qualify for a mortgage. With the rise in foreclosed properties, banks are trying to manage releasing their REO properties into the marketplace in an attempt to defer losses. There is an estimated 500,000 bank-owned properties now, and over a million mortgages 90 days past due. The optimism in the market is that more and more homes are going under contract and closing. The transactions are happening, just with more challenges. It is a solution-oriented market.

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About Andrea Geller

Andrea Geller, Realtor® with Sudler Sotheby?s International Realty, specializes in residential real estate sales and marketing of resale properties and new construction homes. Acknowledged as an expert in the real estate industry, Andrea has been interviewed for industry related articles for print and online media including the Chicago Tribune, Crain's Chicago Business, Reuters, Bankrate.com, and Illinois Realtor Magazine. Andrea's commitment extends to the community as an active member of several professional associations. Her appointments include the Board of Directors of the Chicago, Illinois, and National Association of Realtors® and the Lakeview Chamber of Commerce. She markets herself under HOT PROPERTY®, an innovation in the real estate industry led by Chaz Walters that has been marketed since the 1990s. This unique real estate concept is always a step ahead of the industry providing marketing from cutting edge interactive exposure to targeted innovative advertising opportunities. Visit her at www.hotpropertychicago.com or 773.868.3090.

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