The Chicago real estate market is on the rise, especially if you’re talking about investment properties. As the stock market continues to fluctuate and news of the Fiscal Cliff went from bad to worse to finalized, many cash-rich investors have been looking for a place to put their money. Couple these factors with historically-low mortgage rates, and it’s easy to see why so many people are on the hunt for investment properties in Chicago.After the downturn in the economy, many people have been forced to rent, giving investors an even larger incentive to purchase Chicago homes. They can rent them out, increase the return on their investment on a monthly basis while more and more interested buyers return to the market. In fact, so many people have flooded the Chicago real estate market in recent months that inventory levels have plummeted. It’s not uncommon for sellers to see multiple offers in a short space of time, and their homes going under contract and closing lightening fast.
This has been the norm for months now, and the trend will likely continue in 2013, as the real estate market and the economy at large regain their footing. For interested investors, there really has never been a better time to lock-up a Chicago home. Mortgages can be secured with interest rates at our around 4% right now, and with rental rates continuing to climb each year, the possibility of seeing your return mature nicely over time is very real.
In Chicago, there are a variety of options when it comes to real estate investing. To learn more about the Chicago real estate market, please contact me. I’m a local real estate agent who specialize in Chicago condos, and I would love discuss your unique real estate objectives. Posted by Helaine Cohen on
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