Chicago Real Estate Blog

Are we in a real estate market recovery?

When asked this question as a REALTOR®, I first look at the overall national real estate market and then evaluate the specific local market conditions.

Pending Home Sales Chart

For several months now, all indications show that the national housing market is picking up and much of the media states we are now in a “housing recovery”. In most markets across the country, sales and prices are moving in a positive direction. The Pending Homes Sales chart demonstrates overall sales increasing from June 2010 levels to July 2012.

Housing Facts 2012 vs. 2011Nationally, home sales are up 8.6%, inventory is down 24.4%, distressed properties are down 33% and interest rates are down by almost one point. One caveat: although it shows that median home prices have gone up

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In my previous blog I mentioned the Oktoberfest celebrations that will be taking place through out Chicago for the next few weeks. With the amount of beers and brats being consumed across our great city, you may think you are in the original Oktoberfest location...Munich, Germany. This year our Chi-toberfest is bigger and better than ever with a line-up of activites to keep your bellies full of wiener schnitzel and your feet dancing to the polka. Here are a few of my favorite events across all different parts of the city:

 Oktoberfest CelebrationThe Annual Berghoff Oktoberfest -  With the restaurant's founder, Herman Joseph Berghoff, being an immigrant from Germany back in the late 1800s, it's no suprise that you can find the best of Germany in this beloved The Bergoff

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