In this episode, Dave discusses: The multiple reasons the real estate inventory is low across housing types. Why it feels like it is a tight market.  Current statistics on single family home and condo listings in the areas tracked..  Interest rates, inflation, layoffs, and the overall economy.    Key Takeaways: As a whole, the inventory for the city is up 2%. Certain areas, however, such as Lincoln Park, Lakeview, and other North Shore communities, are down considerably compared to last year.  Winnetka is down 79% compared to last year, which is the largest decrease ..read more

In this episode, Dave discusses: Be prepared - understand what you need to know going into buying your home. Pre-Approval process and knowing your finances.  Choosing the right agent and not settling for less.  Understanding and prioritizing your needs (“deal killers”) versus your wants (“nice-to-haves”).    Key Takeaways: The normal contract-to-close period is about 45 days. Allow 3-4 months, roughly, for your home search. It is always best to meet an agent through a personal referral. You must be able to trust them beyond the shadow of a doubt.  Keep your needs to ..read more

In this episode, Dave discusses the current real estate market through May 2023.   Key Takeaways: So far, the northside neighborhoods have had a better year than much of the city.  As a whole, supply is down about 15%, but demand is down almost twice that across all of Chicago. Interest rates are driving both the low supply and the lower demand.  Supply and demand for condos is not as hard luck as for single-family homes.    "Affordability is driven by interest rates. And so if interest rates go down, then that is going to help sales, shorten market times, and sales ..read more

In this episode, Dave discusses: Stories happening in the Spring 2023 real estate market. What makes this year different from prior years.  The inconsistencies in the current market.  Understanding what you want during your sale or purchase.    Key Takeaways: You want to work with an agent who listens to what is most important to you and understands the market in your selling area.  Consider leaving a couple of days open for showings and trust your agent to run the scheduling of those showings. Keeping the home clean and show-ready is easier if you aren’t there.&nbs ..read more

In this episode, Dave and Doug discuss: How Dave got into real estate in the beginning and why he chose to enter the real estate business. A good agent versus a great agent.  Communication, changing technology, and the evolution of real estate.  The changing rates and home affordability.    Key Takeaways: The ability to interpret the market and effectively communicate what they are seeing is what separates a good agent from an exemplary agent.  You need to be able to clearly explain what you are seeing and why your thoughts are what they are.  Whenever possible ..read more

In this episode, Dave and Ed discuss: Why you should consult a financial professional when buying a home.  Active engagement on behalf of your clients.  Areas homeowners might overlook when purchasing real estate.  Real estate investing.    Key Takeaways: Your financial advisor can give you guidance, but, ultimately, it is your decision. They are the coach to your decision-making quarterback.  Most people are misaligned between their estate documents and the title of their homes.  Every client and every home are unique. Working with a financial advisor can ..read more

In this episode, Dave discusses: The top questions to ask an agent when buying a home The deeper dive insights into the questions you are asking The answers you should be happy to hear, and the ones you should be concerned with Dave’s responses to each of these questions!   The 5 Questions (and a bonus!): Will I be working with you or with someone else?  How available are you for showings on short notice? How many homes should I see before making an offer? What happens when I’m ready to make an offer?  How will you present my offer to the listing agent?  AND … How will y ..read more

In this episode, Dave discusses: What to believe and what not to believe in the rumors of the 2023 housing market.  Concerns and realities about interest rates.  Why 2020 and 2021 were an anomaly, and a realistic look at 2022.    Key Takeaways: There are more differences than similarities between the current housing situation and the housing crisis of 2008. While the current interest rates have climbed markedly this year, they are still well below the historical average interest rate.  On the whole, we will likely have a fairly balanced market going into the next ye ..read more

In this episode, Dave, David, Kelley, Brittany, Chip, Jessica, Diane, and Christine discuss: The types of market agents are seeing throughout the country.  What types of inventory are available depending on the region.  Multiple offer situations.  The changing demand over the last couple of years.  Area-specific challenges faced by buyers and sellers.  Why pricing always matters.  How interest rates are affecting the various markets.  What $1M will get you around the country.    "It’s important to know the city in and out, especially when working ..read more

In this episode, Dave discusses: The uncertainty in real estate.  Making sense of the current market.  The difference between 2021 and 2022 in the real estate market.  Historical interest rates.    Key Takeaways: 2021 is the gold standard for real estate. In 2022, the interest rates have more than doubled, which has never happened before.  The sky is not falling, but we are settling back into the norm after a record-breaking 2021.  The worst of times was 1981, interest rates were above 18%. We are currently about 7%, which is below the historical average r ..read more