Aug
04

Predicting Chicago Real Estate Pricing

August 04, 2011

housing recovery predictions - alphabet soupPredicting the housing recovery seems similar to peering into a bowl of alphabet soup. Experts initially predicted a “V,” in which prices would fall and soon recover. When that didn’t happen, there was a debate about whether it would be a “U,” where prices took a little longer to come back up, or a “W,” with prices dropping, rising, dropping and rising again.

According to Steve Cook of Real Estate Economy Watch and guest real estate writer at the

Equifax Personal Finance Blog, the latest letter experts are using to describe the recovery is “L.” Although calling it a recovery is generous, the L scenario predicts prices falling and staying low for an extended period of time. If you’re considering buying Chicago real estate, the time is now.

In “

Housing Price Predictions: When Will Prices Rise?,” Cook explains another concept used to describe the housing recovery: fishing. Citing Scott Sambucci of Altos Research, Cook explains the concept of a “Catfish Recovery.” Instead of following a rigid, discernible pattern, housing prices mimic the action of a bottom-feeder fish that can’t make up its mind – it can’t decide whether to stay up or down or even which direction to swim.

Cook’s article also comments on the progress made in the foreclosure market. Unfortunately, he discusses a continuing lack of interest from buyers, even in the once-busy spring and summer seasons.

To read Cook’s full article, visit the

Equifax Personal Finance Blog. What do you think of the Chicago real estate market? Is it more like alphabet soup or catfish?

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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