1. Year-end sales boost area housing market
Best December results in 6 years give home sellers hope
More than 7,000 homes were sold in the Chicago area last month,
capping the best finish for a year since December 2006, just before
the local housing market's bubble burst.
Despite concerns about federal budget negotiations, unemployment
and possible changes to the mortgage interest deduction, real estate
agents say a busy December has carried over to the new year, and
the spring market may come long before the traditional Super Bowl
start.
"I believe we're going to have the most promising spring market
we've had in years," said Zeke Morris, president of the Chicago
Association of Realtors. "We can give (sellers) a slightly more
confident expectation."

2. Sellers of choice properties, including foreclosures, are fielding
multiple offers from potential buyers, both owner-occupants and
investors.
"We have quite a few pending deals out there," said Michael
Kurowski, an Prudential real estate agent. "Sellers are holding more
tightly to their asking price, knowing that inventory levels are at
historic lows. Buyers are beginning to get frustrated when there
aren’t enough good homes to purchase.”
Kurowski recently helped a seller close a transaction with an above-
list price offer on a 4-bedroom home in Barrington. It was one of
two offers that was received in the first 4 hours the listing went
active on the MLS. The owner was thrilled and spoke highly of the
diligence exerted by Michael Kurowski.
Modified article from the Chicago Tribune
January 2013