.

Great article from USA Today about the lack of inventory in the real estate market

No homes are for sale because lending has gotten tighter, the banks have released much of their inventory on distressed homes, and owners don't have any equity in their homes.

This is a follow up to my column on Monday about the home shortage in the area. Not only are we seeing it in Northbrook, but all over the country.

The USA TODAY writes a great piece about the reasons why. (Thanks Paul Hogan for the link!)

One thing to remember that as interest rates rise, people are going to want to buy sooner rather than later. So, while right now, you may be able to afford a $500,000 home, you may only be able to afford a home worth $450,000 next year.

In addition, prices are on the rise because of the shrinking inventory.

So, if you are on the fence... get off!!!! 

Kati Spaniak is a Real Estate Broker with @properties specializing in selling real estate in Northbrook, a 37-year resident of Northbrook and a former Northbrook Village Board Trustee. Contact Kati...

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something