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Chicago January 2016 Newsletter
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Chicago Family,

Happy New Year! We sincerely hope you had a wonderful Holiday season! If you haven’t seen Star Wars yet I won’t spoil it, but go see it! Chicago is still seeing a positive real estate market even with low inventory. It does make it even more important to have a good REALTOR that can help you navigate your search. We are always here to help.

Again, Happy 2016! 

-Chester & Joshua
Chicago News

Baby Boomers the Cause of Low Inventory?

Chicago Home Prices are Slowly Increasing

January- Chicago Events

Ready Lawrence Avenue?

Target to Lincoln Park

Featured Listing

4700 N Monticello

View Listing

TOP 7 Things Your Realtor Wish You Knew

Joshua T. Novy
Broker Associate

Referrals are the greatest compliment, and a huge part of my business. I will treat your referral like family.
Chester S. Jakala
Managing Broker

Most Realtors are in the Real Estate business. We are in the PEOPLE business.

$35k A Month?

New Trump Tower Unit Could Rent for $35,000 a Month... Read More

According to REALTOR.COM Chicago was the #3 largest U.S. real estate market in December 2015!
 


"I wish I was homeward bound." Simon and Garfunkel. While home prices continue to post gains throughout the country, potential homebuyers weigh affordability against rapidly rising rent. The good news is ... consumer confidence is up.
The S&P/Case-Shiller U.S. 20-city Home Price Index recorded a slightly higher year-over-year gain in October 2015 at 5.5 percent, versus the 5.4 percent reported in September. 

San Francisco, Denver and Portland reported the highest year-over-year gains with another month of double-digit price increases of 10.9 percent for all three. Phoenix had the longest streak of year-over-year increases, reporting a gain of 5.7 percent in October 2015, the 11th consecutive increase in annual price gains. 

Despite home price increases across the country, rapidly rising rents are making a strong case that it makes more sense to buy. According to RealtyTrac's 2016 Rental Affordability Analysis report, it is currently more affordable to buy rather than rent in 58 percent of the 504 counties analyzed. Rent increases are equal to, or in some cases more than, monthly home payments. Rents also are outpacing weekly wage growth in 57 percent of markets, RealtyTrac's report showed. 

Meanwhile, consumer confidence improved in December after a dip in November, according to global research firm The Conference Board. Tuesday's report showed the index hit 96.5 in December, above expectations and up from 92.6 the previous month. This indicates consumers' assessments of the economy and job market remain positive. Looking to 2016, Lynn Franco, Director of Economic Indicators at The Conference Board, said that consumers' "expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists." 
 
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Chester S. Jakala - Managing Broker & Joshua T. Novy - Broker Associate
TeleQuest Realty - 773.454.5595 - joshua@novyknows.com
"Experience... NOW more than ever!"
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Copyright © 2015 TeleQuest Realty, All rights reserved.
1255 N. Clark St. #1601 Chicago, IL 60610

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