Asked by Joe, Chicago, IL • Sun Aug 24, 2008
I'm interested in finding what is available in and around Morton Grove. I know little about the area but it feels comfortable to me- I'm not limiting myself to Morton Grove so nearby towns with same feel are ok. Summer is almost over, real estate is likely to decline in the short-run, interest rates are up since the beginning of summer and listing prices are oftentimes not reflecting these negatives for sellers. I have been looking in another area for 5 months where the agents seem to be resisting the reality of the declining market and some people are still paying $300,000 for smallish completely outdated 3 bedroom houses. They will never get their money back after updating. I can wait for prices to drop next year but I'd rather settle now. I don't believe that people anywhere are going to continue paying $300,000 for out-dated 3 bedroom houses on ordinary lots. Who wants to help me get a house at a price that reflects the reality of the market?
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