I just sent the following letter to the Daily Herald.
“The lead in for your front page article, “Why are assessments up when values are down?” is grossly inaccurate. The article starts, “As property values tumble to lows not seen in a decade…” On what planet? Chicago area property values are not at their lowest for the past decade. Depending on what index you use they’ve pulled back to 2004 or 2005 levels in some areas, still far above values for 1999.
The media’s oversimplified, sensationalist approach to reporting today’s real estate news adds to buyers fears which pushes prices down. Instead, you should be educating your readership with facts. Real estate has always been a long term investment. The recent pullback in prices, high inventory levels, combined with low interest rates is a great buying opportunity.”
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
