Real Estate Agent In Chicago – Find The Right One

With the incredible growth in population in Chicago, property prices are fluctuating every now and then. In such a scenario, owning a home in Chicago might turn out to be a difficult affair especially for professionals. Before we discuss the real estate industry of Chicago, let us first take a look at the geographical location of Chicago.

Chicago is a very desirable place for tourists and residents alike. It is number three in size for cities in the USA, centered about in the middle of the country in the northeast corner of Illinois. The city holds a very prestigious financial position, being home to three main financial exchanges. With all this going for it, Chicago has become a fast growing metropolis with housing costs to prove it.

If you want to buy property in Chicago, you must hire a real estate agent. Hundreds of multinational organizations are establishing themselves in Chicago. As a result of this, construction companies are facing stiff competition with each other. Unlike many other assets, the price of property never decreases. And if you happen to own a home in Chicago, you would not have to worry about your future.

You can find residential as well as commercial property in Chicago. If you want to purchase a home, you have the option to choose from plush condominiums, duplexes, row houses and even apartments. It is important to analyze your budget and requirements before buying a home in Chicago. Depending on the location, property prices vary in Chicago.

We all want to own a beautiful home, isn’t it? But do we have time and energy to find such a house on our own? That is why it is important to hire a real estate agent in Chicago. A real estate agent can ease your problems pertaining to finding your dream house. Real estate brokers associated with established firms are generally reliable.

A good real estate agent in Chicago can find you a great place to live, but not only that, they can save you time and money. Chicago real estate is sold by hundreds of different companies. New houses, and old can be found for purchase in the great city of Chicago.

Miami Real Estate Housing Market for 2007: What Trading in Housing Futures Foretell

Prices of homes will even be lower a year from now in the Miami real estate housing market–at least, according to what investors speculating on housing real estates suppose. Chicago Mercantile Exchange trading in housing futures point to home price drops by August of next year amounting to 6.8 percent for the Miami real estate housing market; the predicted price decline in Miami is well above the average drop in 10 leading real estate markets of the United States.

The speculations by traders in the Chicago Mercantile Exchange (CME) are fairly consistent with the results from a survey conducted by Moody’s Economy.com, which examines the 100 largest real estate markets in the U.S. Economy.com predicts that real estate housing markets will first get worse before they get better again, in the perspective of property sellers of course. The survey considered mortgage rates, the local job market and other factors to come up with the figures. According to this survey, the Miami real estate housing market is yet to experience its deepest home price decline of 5.5 percent by the second quarter of 2008. Nationwide, the study forecasts a 3.6 percent decline in the sales price of existing homes.

The S&P CME Housing Futures and Options, which took off during the Spring of this year, enabled investors to circumvent against a decline in the value of housing properties in the future or to bet that those values will rise. The investments are connected with the Case-Shiller Home Price Indices. Robert Shiller, author of “Irrational Exuberance,” claims that the results of the CME trading in housing futures offer a substantial predictive value. In Shiller’s words, “[The trading results] gives us a finger on the pulse of the [real estate] markets.” As a matter of fact, prior to the launch of this trading, real estate speculators had seen a narrow opportunity to invest in housing markets short of going out and buying actual properties.

Richard DeKaser, who is National City Corporation’s chief economist, is pessimistic about the results of the trading though. According to him, because of the novelty of investment vehicles that CME introduced just this year, the trading may not offer the same level of predictive power as other derivatives products. DeKaser points out that the problem lies in the fact that real estate markets cannot be considered to be very deep markets, hence traded remarkably thinly. He is therefore considerably reluctant to attach too much value on the figures the CME is posting right now.

On the other hand, those who are doing the trading themselves seem to be betting accurately. According to Fritz Siebel, Tradition Financial Services’ director of property derivatives, the CME trading results quite fairly came close to where the actual Case-Shiller index wound up in validation tests. Therefore, if the home price drops that the trading predicts are fairly accurate, home sellers in Miami should better be wary.

Nevertheless, Shiller advises that the figures may exaggerate the degree of the decline because of a risk premium taken into account. This implies that more traders prefer to protect themselves against loss (risk aversion), rather than investing in a growing market. In the words of Shiller, “the predicted decline might be a bit bigger than the actual one.” The more realistic scenario would actually have the risk premium diminishing as the market for these derivatives swell and as investors who are willing to take the opposite position enter into it.

Nevertheless, even if all minor details are taken into account, the CME trading still points toward a fairly considerable turnaround of housing prices in Miami. As mentioned, the results are consistent with a host of other indicators, such as Moody’s Economy.com survey, that apparently agree that housing prices in Miami real estates will not only equilibrate but actually plummet even more.

Real Estate Investing With a Green Twist!

What? You are still stuck trying to tie home buyers with home sellers, or land owners to land buyers? Shame, shame! You are missing out on one of the biggest booming real estate investments in this century, possibly in our lifetimes!

Green Real Estate Investments! That’s where the next generations of people are going to go! What exactly do I mean?

We all know how the housing market works. We all know how traditional Real Estate buying and selling works. But, what if whole communities, like a sub-division of sorts were sold all at once, Green Communities? How would you fare as a Real Estate Agent? Say, if you could show a Land Owner a way that he or she could make a permanent monthly income from the lease of their land and you could show a way that home Owner’s could own their own home in less than ten years–what do you think the potential would be?

There’s a growing trend out there–one that involves renewable energy. Being self sufficient, being independent, being financially free.

Remember the way a house was sold fifty years ago? Well, probably not, heck I don’t even remember it, but I do remember the tailing sales pitch that continued on in the 70’s, 80’s, and even 90’s before the big housing boom and bust. Remember it went something like this, “Buy your home, because renting is a waste of money!”, “Buy your home, it’s the quickest way to financial freedom, owning your own home gives you freedom!” Slogans along those lines, remember? Well, the reality of these slogans coming true for the average Home Owner was slim to zero. First of all MOST first time Home Owner’s were talked into 30 year loans, first mistake they made and the Real Estate Agencies made. The Bank’s fared great with this concept for many years (approximately 30+ years), well they fared well until the housing bust, massive foreclosures occurred. This should be a WAKE UP CALL to everyone in the housing, real estate and banking industry. The BIG QUESTION everyone of these people should be asking themselves is “Why?”. Why did this happen? If WE can answer that question then we can avoid the same mistakes in years to come right?

That’s exactly what many Home Owner’s asked themselves as they filed bankruptcy and went into foreclosure. They asked, “WHY?”.

You know it use to be that when someone went into foreclosure it was because they had fallen onto hard times, lost the bread winner of the family, or were just plain lazy. It was not very socially acceptable to lose a house. In-fact, it was down-right embarrassing!

But, nowadays–people feel sorry and try to help those that are experiencing such an awful thing–things are changing in our society. People are beginning to look for a more solid way of owning a home, being able to raise their families safely, in a healthy environment, where they can be a part of raising their children instead of a Day Care center or babysitter. People want more room to breath and be themselves, they are getting sick of the rat race type of living. Get up, go to work, go home, live for a few hours, go to bed, get up, go to work, and back around to the same old thing, over and over, and over again! At the end of the tread-mill what do they end up with? Paying taxes, insurance and really NOT owning anything because they still have a mortgage on their home, their vehicle’s are getting older and they have to run faster to try and keep up with the depreciation of everything they own. Lessons of our not to distant past have been learned by some, and should be learned by EVERYONE!

The past way of developing Real Estate has slipped, and is NOT as solid as it use to be! We should listen to our past to avoid the same mistakes in our future.

Now, for the first time in history, Real Estate is making a full circle. What I mean by that statement is Real Estate Investing is going back to the way it use to be when George Washington was alive, it wasn’t simply an investment, it was a means of living and raising a family. Look all around you, what do you see? Doesn’t matter where you live at you will find land owned by someone that is just sitting there–collecting dust so to speak. They are doing nothing with it–sure some of this land may be in CRP or other Government programs, and it’s there for a good reason–the Land Owner’s don’t want to just pay taxes on the land without getting something back, and with lack of knowing what else to do with the property they put it into these programs. Well, guess what, with the information in this article YOU as a Real Estate Agent, or Land Owner, or Home Buyer will be armed with another way that a Land Owner, Home Buyer or Real Estate Agency can produce and income and/or own a home in less than ten years!

Imagine, if you will, back when George Washington built his home. Did he build it all by himself? Probably not, he had help from other people that were going to live on his land and in turn he helped them build their homes also and they would work on his ‘plantation’ as they called, a ‘farm or ranch’ now as it is called, and some places back East and in the South still call their parcels of land ‘plantations’, but the point being here, the people who were going to live in these homes–they were an instrumental part in developing and building the homes. They took raw material and THEY built them. They didn’t hire a Construction Company to do this–they did the work.

If you are a Land Owner, you can be your own General Contractor. And, if you are a prospective Home Owner, YOU can be your own General Contractor and YOU can be very instrumental in building your own home for way cheaper than if you hired everything out. Did you know that a General Contractor tacks on anywhere from 10 to 40% onto the actual cost of building a home? Most people don’t have a clue. So, being a General of your own project will save you thousands of dollars right off the bat! Now, the City and County Inspectors will want everything from blueprints to sub-Contractor’s names and license numbers, like the Plumber, the Electrician, the Concrete Company, etc. But, what-if you had a group of people that built these homes at cost and they were Plumber’s, Electrician’s, and Concrete men/women? What-if they were going to live on this land? What-if they simply helped each other out–at NO COST? They did it to cut the cost of the home down and to be able to pay it off in a shorter amount of time? Now, what-if this group of people went even further than that? What-if, they took their talents, knowledge, crafts, and hobbies to the outside world and sold them at whatever people would pay? What-if the Land Owner agreed to these activities on his land for a piece of the action? A land lease? Now, you are probably starting to see a bigger picture–one that can and will change the way Real Estate, Home Buyer’s and Land Owner’s do business together.

It’s a better fit, with less risks from every party involved. Why, with the rising taxes (to pay for the none-ending bail-outs that occurred and will continue), the rising costs of labor due to rising taxes and rising insurance cost, thus causing the cost of building a house to go up, this idea that is growing is very appealing to ALL involved, don’t you think?

The time in history has come when major shifts in the way people live their lives will change the way people buy homes, cars, food, clothing, the necessities. Green Living is here, here to stay and it comes in many different forms–this is just one form–Green Real Estate Buying and Selling!