Thursday, March 22, 2012

Chatham on the rebound?

That's the word from Dennis Rodkin from Chicago magazine. Chatham is one of 12 Chicago-area communities that are on the rebound:
Foreclosures have given, and they may also take away in Chatham, says Neal Gillie, an appraiser at Chatham Realty Services. Our data shows improved prices and market time for condos in that South Side neighborhood. Gillie attributes those upswings to an early round of foreclosures that were bought at rock-bottom prices, rehabbed, and resold at “greatly improved prices.”

But looking ahead, he says, “there are so many foreclosed properties here that have not been put on the market yet. When they do, it’s going to cause another plunge.”

1 comment:

  1. This article is the prelude to another article by a major newspaper that says the same thing. Several local real estate professionals were quoted in the other article.


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