The Chitownproperty team is excited about the inauguration of Chicagoan Barack Obama at 44th President, and looks forward to the new year. Thank you to all our clients for your continued business!

The new year means the beginning of the annual “Spring Market,” when buyers and sellers, freed of hectic holiday schedules, jump into the housing market with both feet. Inventory will be up, and eager buyers will be hitting the streets in force. Unfortunately, this could mean more differences in expectations. Sellers who have been waiting for the new year to market their place will likely continue asking for top dollar, as hopes of a new year and new market bolster their opinion of value. And buyers, exhausted by holiday spending and still in tune to reports of the changing market, will still be looking for deals.

If you’re shopping for a home, be willing to pay what a home is really worth, and don’t expect a seller to take a bath. If you like a place, chances are someone else does too, and you don’t want to lose it just because you like to drive a hard bargain. Likewise sellers, put yourself in the buyer’s shoes. How much would you pay for your home now? How does it compare to recent sales in your neighborhood? Does the data support your asking price? If you can afford to hold out for that top price, then do so, but the longer it stays on the market, the more you might need to reconsider your options.

We can only suggest realism in this environment. If you’re honest with yourself about true value of a home, you won’t regret your decision to buy or sell. Good luck in the new year from the Chitownproperty team, and happy house hunting.

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