Chicago Real Estate Investing – New Year, New Career
Breaking News – the Chicago real estate investing market IS alive and well! We all know there are ups and downs in real estate, but when you’re investing – it’s just a matter of whether you’re working the buying or selling side, right?
JOIN US JAN 28TH IN CHICAGO for a special real estate investor’s workshop designed to give your New Year a serious boost, with all the latest local market information!
2017 Chicago Market Shifts
The business of real estate is mostly a matter of supply and demand, and in 2017 we’re checking the Chicago buyers’ market box. According to the National Association of Realtors home prices and sales are expected to rise, however, sellers will need to be more realistic in negotiating the offers they receive this year. Why? Two reasons: a) because the number of first-time home buyers will be significantly less due to slow job and population growth, and b) cash buyers won’t spend over market value for properties.
Chicago’s Investor Advantages
The Chicago real estate investing market is actually pretty appealing from a seasoned real estate investor’s point of view. Just because there aren’t big increases in appreciation, doesn’t mean Chicago isn’t a comfort zone for investing. On the contrary, the area’s stability and solid market values come with inherently fewer appraisal issues and more cash buyers waiting in the wings.
The investor’s power will be in their ability to negotiate as well as educating their sellers; particularly with distressed properties. With Cook County scoring in the top U.S. counties for cash real estate transactions, there are certainly plenty of qualified cash buyers at the ready.
Chicago’s Top Investing Tips
My hope is that you will join me JAN 28th at my Chicago investor’s workshop for a fun and informative afternoon. Below are some of my personal recommendations for real estate investing in Chicago for 2017:
- Become educated on how to find distressed properties such as those with delinquent property taxes or pending foreclosures. In Cook County itself, there are more than 60k houses with delinquent taxes.
- Become a better negotiator by acquiring and presenting solid facts to turn each offer or proposal into a win-win for all concerned.
- Look for available and qualified local cash buyers by pitching reasonable collaborations and keeping your word. Trust means everything in building these associations, and it goes both ways.
- Properties within city redevelopment areas and suburbs are especially appealing.
- Millennials will have increased buying power with favorable terms and fewer lender restrictions, and GEN Zs are coming on board as well. These 1st-time buyers will be looking for mid-priced homes close to public transportation, in low crime areas.