Market Reports
State-of-the-Market
Prudential Preferred Properties
State-of-the-Market
In a challenging market such as what we are now experiencing, it is vital to implement a strategic sales plan when buying or selling real estate. The information below may be helpful to you.
Market Overview
National issues such as the war in Iraq and the weakening dollar shape consumers' attitudes and influence the economy. Additionally, this year's national election will impact the economic outlook for the foreseeable future. In September and December, the Federal Reserve stepped in to balance uncertainty by issuing rate cuts, bringing interest rates to new lows. A few bright spots - strong US exports and 5.4 million new jobs since August 2005 - also offer some promise in an otherwise challenging economy.
Though national issues are important to consider, we must also remember that real estate is local. The midwest real estate market is relatively stable compared to the constantly fluctuating business that the coasts experience. In October, the IAR reported that the Chicago Primary Metropolitan Statistical Area (PMSA) median home sale price was up 3.1 percent from October 2006.
Turn Obstacles into Opportunities
We can turn obstacles into opportunities by taking the time to refocus our goals.
Work with an Agent Who Follows a Business Plan:
- Set goals for the year with specific plans for their achievement
- Your PPP agent has some of the best online tools to help you buy or sell in this challenging market
- Prudential Real Estate has THE exclusive relationship with Yahoo! This means that your listing will appear toward the top of searches on Yahoo! Real Estate
- All listings are on 100+ websites, including ChicagoTribune.com enhanced and Realtor.com enhanced, giving you a competitive advantage in the market.
- Know that proper pricing is the key to success.
- Regularly review progress with your agent. Ask for updates on your area.
Keep in Mind:
- Homes priced right will sell
- Your agent can help you find ways to make your home stand out among every other home in its price range
- Your agent can review PPP Market Research reports with you.
With your Prudential Preferred Properties agent and strategic planning, you will be well-equipped to buy or sell in today's real estate market.
Sincerely,
Chris Eigel and Michael Pierson
January, 2008
is a registered service mark of The Prudential Insurance Company of America. Equal Housing Opportunity. Midwest Realty Ventures LLC. All Rights Reserved.