are there any calculators to project/estimate what you would make if you sold in a year versus 2, 3, 4, 5 etc?

Asked by Katie, 60611 Mon Mar 10, 2008

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Kale Realty, Agent, Chicago, IL
Mon Mar 10, 2008
Hi Katie

In 60611 with no improvements you should be able to break even after 3 years. Real Estate is a long term investment if you try to resell in 1 year of ownership be prepared to bring cash to the closing table.

Best of luck
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1 vote
George Morgan, Agent, Chicago, IL
Mon Mar 17, 2008
Yes, depends on the location and the type of unit. There are 77 census tracts and over 220 neighborhoods in Chicago. There are at least 4 types of homes in each neighborhood and so about 880 different markets that all could be heading in different directions. $250,000 2br in Lincoln Square could be trending differently than $400,000 1br in River West.

If you have a specific type of home in a specific neighborhood I should be able to provide you with some trends.
0 votes
Greg Zaccagni, , Illinois
Mon Mar 10, 2008
As rates of appreciation tend to vary by community, it would be helpful to know where you located and a realtor can provide you with their average annual rate of appreciation. Then just compound the rate by the current estimated value for the number of years you intend to remain.
Greg Z
0 votes
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