Real Estate Predictions in the Northern Illinois and Chicago area:

Residential housing will continue to accelerate its decline at the high end, but show a small recovery in the lower-end market areas. The press will continue to be contradictory, because they don't talk about specific areas, they just generalize.

There is very little lending available to support expensive neighborhoods [cash is king].  Unfortunately, those neighborhoods have many homeowners with negative equity as values have dropped over 30% the last several years.  If those homeowners are unable to refinance and/or continue making their mortgage payments, sellers will continue to walk away.  The better option is for those homeowners to accept the inevitable, and prepare their home for a short sale, which is a better option than foreclosure. 

Carol Best has her CDPE certification and has handled short sales for the last 3 years, with a team of professionals that include a short sale attorney, agents, and paralegal professionals.  For confidential assistance, please sign up at:

http://www.LuxuryShortSaleInfo.com

Carol@CarolBest.net | Call or Text:  773-799-5939