This will be short and sweet...but I was watching the news last evening and Channel 7 in Chicago......Our ABC station..was doing a short interview on the grand opening of the New Trump Tower Downtown where there are condominium units for sale. There are still floors that need to be built, but many of them have already sold.
Donald Trump made a statement that the Chicago Real Estate Market stinks right now, but he believes that it has gotten to its worst point. He believes that people are going to look back a bit and say that they should have bought already. I expect that they will do it now for fear that they might miss it if they don't.
That is the gist of the comments that were made. I was very happy to hear it. I hope that more people than just me saw it.
Laura Resnick - Realtor - RE/MAX Associates West - 1011 Stearns Road - Bartlett, Ill. 60103
www.lauraresnickrealtor.com
Interested in you, whether you sell or purchase in Carol Stream or surrounding West or Northwest Suburbs, I want you to feel as though you have been cared for, well educated and expertly represented
Carol Stream Real Estate Market Conditions week ending 9-2-07
Bridges Unsafe in Illinois - Dupage County and Surrounding Counties
Gifts Delivered to your clients door....or to the closing table...........
Carol Stream Single Family Homes Sales Weekly Statistics 8-26-2007
Have a friend with a High-rise Apartment in Chicago?
School is almost OUT In Chicagoland!
Carol Stream, Illinois Home Sales Statistics for Week ending 8-12-07
Bartlett, Illinois Things to Do
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
Laura, thanks. been thinking a little about this area, good to hear this.
We have been trying to tell clients that now is the time to buy for quite a while. Maybe since the "Donald" said it, a few more will listen.
Interesting...Im surprised to hear that they opened that building even with more floors to build. With the recent crane collapses and such, that seems like a risky proposition. But, then again....Its Donald Trump.
For some it may be the smell of perfume!
Clint: you are right... about the cranes.
They said that people have been in since January already...
I hope everyone was watching channel 7
Trump built his fortune by seizing opportunity and going against main stream. He weighs the risk and makes a business decision to weither move forward to pull away. I agree, that if Trump were to come out more publically it would indeed be helpful in persuading the general public perhaps. Better than begative press at least!
Laura - this sounds a lot like what we are hearing in CT too, that we are bumping along the bottom now, and if you were waiting to get in, now's the time to do it.
Never thought I would say that I hope the donald is right! Don't really get the high end condotel units though. How much is the monthy rental for these oversized hotel rooms and how may people are really willing to pay it? Cant see how you could ever get close to break even here in chicago. Makes more sense to me in Orlando where similar units are sold.
www.MortgageAdvisor.info
Greg: Don't know much about that particular building - Just was glad that someone stood up and said something positive. I speculate that in the town where I live, investors are picking up the smaller, lower priced homes and will fill the rental niche' for a year or two and then try to sell them.
Although, the really good ones, are selling as before, just a bit more slowly.