According to the Chicago Tribune, investors are actively engaged in purchasing and renovating homes for profit in Chicago again! Citing an increase of 30% (reported by RealtyTrac) in home flipping over the same time period in 2011, interest is definitely on the rise.
If you’ve been looking for an investment property in Chicago, now may be the time to start your search. Interest rates are still low, averaging 3.36% with .6 points for a thirty year fixed loan and 2.6% with .5 points for a 15 year fixed on October 4th, 2012, it may just be time to start building your real estate investment portfolio. As part of your search, you may also want to consider viewing one of the new properties we represent built by Noah Properties, as you determine your needs for purchasing your next Chicago investment property.
If you are interested in purchasing a home or condo in Chicago, at Sergio and Banks Realty, we can provide you with the insight and advice to understand which properties represent the best value. We know Chicago and can help you determine pricing, needed upgrades, and market trends in each neighborhood. Give us a call at 773.235.6100 to get more information on how we can help you with your property purchase.