Hello::(hello)::is there anybody out there?

Hello buyers, sellers and everyone in between.

I've been off the blogosphere for a little bit here, licking my own wounds from the slumping market here in the Chicago area. I know I'm generally a pretty solid source of optimism, but the last couple of months have been nothing short of tragic.

Where have all my buyers gone?

Afraid I'm guessing and, it would seem, for pretty good reason. All of the economic indicators; the price of food, gas, and the essentials of life: All of it seems to be spiraling out of control in the worst possible way. To top it off, we've also seen a pretty steady delcine in both the prices of and the sales figures for both new home sales.

But wait...what's this? A glimmer of hope? A report that says there was a slight increase in existing home sales last month?!?

Well there very well might be a good reason for that and buyers, you need to be ready to get your heads out of the sand and prepare for buying opportunities because there will only be a small window.

Here's why:

It would appear that home values have been and will continue to fall albeit at a slower rate. This decline has lasted approximately 18 months and the "experts" predict we won't actually see a turn around for another 6-8 months. Here comes the "but-monkey"...BUT, it does appear that sometime between now and the first of the year, that the Federal Reserve will begin to raise interest rates to help stave off further devaluation of the sagging dollar.

What does this mean?

This means that now may be the perfect storm for buyers. The interest rates have stagnated for the moment and are holding steady. If you have good credit, particularly if you are a first time buyer with solid credit scores, it is an excellent time to get a loan at a very attractive interest rate. And, to top it off, with a glut of inventory out there it is possible to really negotiate some serious deals, particularly with people who are in a position where they have to move.

So buyers, get ready and get out there. This is the time to buy if you can because in a couple of years, when this slump is over, the sellers will have their revenge and anyone who buys in the next 6-12 months should be sitting pretty.

Sorry sellers!

Keep your chins up though, the buyers are out. You're going to have to be reasonable if you want to sell.

More soon.

Rick

House Hunters. . .it's a wrap!

Hello from Hollywood...I mean Chicagoland!

So you may recall a couple months back I was talking about the relation I developed with the good people at HGTV's House Hunters. Well I want everyone to know that they haven't let me down. Although we ran into some slight scheduling issues with my clients who had previously agreed to do the show, we were fortunate that the network equally adored another couple from the area and, in fact, we wrapped the shoot just a day or so ago.

How exciting!

For those of you who don't know, House Hunters airs regularly on HGTV. The show chronicles a buyer and their real estate agent through the buying process once the buyer has narrowed down their selection to 3 choices. The fun part of the show is that no one knows which home the buyers actually chose until the end of the show and then, they follow up a month to several months later so they can see how the buyer is settling in and enjoying their new home.

My clients for this show were absolutely fantastic. They did a great job both on and off camera and were so cooperative and wonderful to work with I can say enough good stuff about them. And the crew sent here by Pietown Productions was totally amazing. They were beyond professional. The crew was efficient, courteous and hard working and I'm convinced we're going ot have an amazing episode once it airs.

This episode is going to be great for a couple of reasons. One because it takes place right here in Chicago area, two because that area specifically is right in Brookfield Illinois where I live and raise my family.

Stay tuned and I'll keep you posted as to when the show will air.

Cheers!

Rick