Chicago condo sales are down 33% since last year. It’s a Buyer’s Market, and many potential condo buyers are biding their time, waiting for prices to bottom out . . .
If you’re motivated to sell your condo—fast—you can turn these conditions to your advantage.
It couldn’t be easier . . . just enter your 5-digit Chicago-area ZIP code in the box below, and we can get started on preparing your FREE home valuation.
Make no mistake—your goal now is to sell your condo without losing money. In early September American Invsco, a major real-estate developer, held a two-hour lottery to unload 150 condos at 128 W. Lake Street, selling them at a discount of 20% below what they would have asked last spring. The writing is on the wall.
A lot of sellers are still living in the past, expecting to rake in the kind of profit on their condos that was common in 2003 and 2004. Those days are over, though . . . with the number of available homes in Chicago now twice what it was a year ago (126,986 compared to 61,107), buyers can confidently walk away from any asking price they think is too high.
People always need places to live, and buying property is always a better deal than renting—these are the facts that will save you. But to sell your Chicago condo fast in today’s Buyer’s Market, it needs to be priced right.
The most accurate, time-tested method for setting your home’s price correctly is by using “comps”—comparative valuations—to see what recent buyers in your area have been willing to pay for homes similar to yours. That’s how professional realtors do it . . . and we’re now making this information available to you.
If your condo is priced correctly, you’ll be able to blow past your competition in attracting buyers . . . they’ll be stuck paying mortgages on condos they don’t want for 3 months . . . 9 months . . . a year—while you count the cash you made on your successful sale.