Chicago Real Estate in 2019 – What to expect?

Chicago Real Estate in 2019 – What to expect?

1) 10 years of rising prices might be coming to an end. 2018 Was start of the bear market with about a 3% decrease in median sales price across most zip codes in Chicago.
2) Sellers: Try to sell this year we might be entering into a more balanced market. Price smart!
3) Buyers: Finally a market where you can negotiate and find deals.
4) Inventory: still short.
5) What neighborhoods to buy? South, North, West, North West
6) Densification of Urban Centers.
7) Economic Performance: GDP growth, employment, tax reform.
8) Interest rates. Brexit, oil prices, war with China. 5.25%-5.30%. Rates in the 80’s. Rates in other places.

Very interesting. I agree with your predictions.

Im from another state, but is interested in Chicago.

I had a huge shock when I saw the property and income taxes there. Does not seem worth it to buy with those property taxes.

Population is slightly shrinking. Do you think the government there will lower property taxes or do they seem pretty set on high taxes?

Would you recommend buying into a South loop condo now or wait 6months to a year or so?

Do you think now is still a good time to become an agent or is the market to saturated?

Would be interested in your opinion on how investing has adjusted to the licensing requirements for wholesalers