This 2.5 year old post was SO wrong it is funny. I'll bet the realtor who posted it regrets it now. How many clients has he misled with his misplaced enthusiasm?
Let's leave the price predicitions to the economists and focus on serving our individual clients to the best of our abilities, no matter what the overall business climate is.
Many of these properties have been on the market a long time and since the seller is unwilling to take the property off for the holidays and leave it off for 4 months you know they are motivated. Keep in mind, most people selling who aren't as motivated, will take their property off the market for the holidays and for 4 months thus allowing the property to come back on the spring market as new. My using this marketing strategy, the listing sheet market time shows as new.
It's always a good idea to "think resale" when you purchase property. There may be some features that are not important to you, but would be important to buyers in the future. And don't forget about the all-time most important feature...location!
Give serious consideration to the factors that will drive your home's resale value over the time period you're likely to live there. There are lots of units out there, but some buildings, locations, floorplans are likely to have enduring relative value. Others will have a hard time standing out from the pack.
It's also important for you to work with a real estate professional who's not afraid to help you negotiate based on real market data. We sometimes have an inside scoop that may help you gain the upper hand in getting the best price.
If you have your eye on the south lakefront -- South Loop, Bronzeville, Kenwood, Hyde Park -- I'd be happy to shed some light on what current market conditions may mean for you.