How Chicago’s top real estate agent says his industry is on the cusp of a golden age
Chicago’s real estate market is on a roll and some big names are taking advantage.
Here’s what you need to know:The Chicago real estate industry is a big one, with many of the city’s top names among the top sellers.
There are more than 2,300 listings on the Chicago market, up from just over 700 a year ago.
But not everyone is happy about it.
Here are some of the big names taking advantage of a strong start to the year in the city.
Realtor Mark Johnson said his company’s inventory is up 10% in the past 12 months.
“I’m happy with it,” Johnson said.
“We’ve done well for the last year.
We’ve done pretty well this year.”
That said, Johnson said some sellers in his sector have been slow to adjust to the influx of new buyers.
“You’re still dealing with the same inventory levels you were dealing with before the last wave of sales,” Johnson explained.
“It’s really just an ongoing process, a process that is very difficult and not a surprise.”
Johnson said he has seen some new buyers who have been waiting for a chance to buy before the next wave of buyers arrive, but many others have bought after selling their first homes.
Johnson said it’s been “a very positive thing.”
“We’ve had the same sales for 10 years, and we’ve seen them go up,” he said.
Johnson is hoping that the influx will bring in buyers to his company.
He said the buyers he has helped on a number of properties are excited to be a part of his family business.
“They’ve bought some really great properties,” he noted.
“These people know that it’s a family business, and they’re getting the opportunity to build a new home and start their family.”
In fact, Johnson noted, he’s helping the next generation of young Chicagoans buy their first home.
He’s also been able to help people with their credit card debt, as he helped a couple of borrowers pay off their credit cards before he left to work at Target.
Johnson’s biggest challenge, though, is trying to keep up with the rising demand.
“The biggest challenge I’ve had is dealing with a real estate investor who is trying everything they can to buy up every house,” he explained.
“There’s nothing I can do about that.
The only thing I can say is, if you’re looking for a home, do your research.
You can go on Craigslist and go through a lot of different places and find a good deal.”
Johnson is one of many real estate agents across the city who are struggling to keep pace with the demand for homes.
And he’s seen some buyers who are ready to leave their homes, but haven’t been able.
“There are some buyers that are very motivated and have had a lot to prove, and those people have had to do a lot more research than other buyers,” he added.
“Some people are just really excited, and a lot are just desperate.
I think that is a real problem, but I can’t put a price tag on it.
It’s an ongoing challenge.”
Realtor Chris Tynan has seen a surge in interest in his Chicago realtors.
He believes it’s because of the economic downturn.
“What I’m seeing is the real estate markets in Chicago, Chicago as a whole, are really booming,” Tynans said.
The city is still recovering from the Great Recession, which led to job losses, high unemployment and a housing crisis.
Many people still are in school, and many are struggling with student loan debt.
“We’re still experiencing some of those issues,” Tysnans said, “but it’s still at a very high level.”
Realtors have been able just fine, Tysns said, thanks to the housing market, the recovery and the fact that most buyers are not moving in.
“If you’re in the middle of a home sales market and you don’t have enough inventory, you’re going to be on the receiving end of a lot worse for that decision,” Tins said.
“As the market has picked up, there are a lot less people on the market, and there are fewer sellers, so the demand has really been there.”
Tysnan said he hopes the influx that’s brought home some of his clients will lead to a surge of sales.
“I think this is going to help the industry in general,” he continued.
“This is the beginning of the Golden Age, right?” he said with a laugh.