Journalism Student Help

Asked by Shaina, Evanston, IL Mon May 5, 2008

What effects if any has the increased rate of foreclosures due to sub-prime lending had on the condo market in Evanston?

Has there been an increase in the amount of time it takes for a condo/building to sell?

Do you see any negative trends happening in the condo market currently? How about in six months to the next year?

The economy hasn’t seemed to slow the new development projects in Evanston. Are there any specific reasons why developers have confidence in this market?

Thank you.

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Don Tepper, Agent, Burke, VA
Tue May 6, 2008
Bob's right. Call some Realtors in Evanston. In addition, regarding your developer question, call several developers and ask.

Since you say you're a journalism student, if you're doing this for a journalism assignment you should definitely make calls and conduct the interviews. I have an MA in journalism (University of Missouri-Columbia), and while that was in the pre-Internet days, we had to conduct interviews. Only by talking to someone can you really follow up on off-hand comments, or pick up on pauses, or probe for more information.

And some of your questions have built-in assumptions that may be incorrect. You're assuming that developers have confidence in this market, to use your language. I can think of half a dozen reasons why development projects are continuing; many have nothing to do with whether the developer has confidence in the market.

Hope that helps.
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Bob Brandt, Agent, Schaumburg, IL
Tue May 6, 2008
I would suggest using the phone to call several Evanston Realtors and ask them personally for their opinions. Otherwise you may just get opinions from Realtors from too far away to give you the more precise advice you seek.
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