CNNMoney.Com reported this week that real estate research group Local Market Monitor determined that real estate in Chicago is a “fair value” in contrast to many other markets.
Analysts compared the selling prices of homes in 100 major markets to “equilibrium” values derived from local economic and population growth, construction costs, vacancy rates, area household income and interest rates. Markets in which prices were 15 percent or more above the equilibrium value were determined to be overvalued. For the full article read, “Most overpriced home markets“.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
