Residential real estate developers in Chicago are busy building new construction houses and condos throughout city. The market for tear-down houses and vacant land in Chicago is very competitive in some areas.Read More
How to sell a tear down house. If you own an older single-family home where the highest and best use for the property could be to tear it down and rebuild, you might be wondering how to sell the house or whom to sell to.Read More
When the Chicago real estate market is in high gear like it has been since early 2012, it's common for Sellers to initially price less aggressively at the beginning of the cycle and over aggressively as the cycle matures, just prior to flattening out or declining. Early in the cycle, Sellers are pleased with quick sales at or near full list price. As the market strengthens, bidding typically becomes more aggressive and properties will frequently sell over list price.Read More
So, you've decided to sell your property and you want top dollar. Sounds pretty fair. As the owner and now seller, you've come to realize that the property is never going to be perfect, there is always something that needs to be fixed or replaced and you have little control over how the tenants maintain their apartments. These could be reasons why you want to sell in the first place.Read More
Buyer expectations are really just a product of overall market sentiment. If the general consensus view of the market is positive, negative or neutral, most people who are actively in the market to buy at a given time will act accordingly. Buyers are certainly not working together but their collective actions produce and reaffirm a herd mentality that becomes a driving force in the market.Read More
Real estate investors should take a minute to determine how looming higher capital gains taxes will impact their returns in 2013 and beyond.
Beginning January 1, 2013 Medicare taxes will be increased to 3.8% (from 2.9%) and expanded to cover investment income for higher-income individuals.Read More
Selling smaller income and multifamily properties is not an overly sophisticated process but overlooking small details can cost you big bucks. Buyers are going to consider location, gross income, condition of the property and potential to add value when making an offer.Read More
Don't Sabotage Your List Price
When it comes to selling multifamily investment property, it's easy to formulate pricing strategies that reflect our personal needs and not what the market is willing to bear. There is always a magic number but how does one come to it.