Tuesday Tour ... Same Old Same Old?

Tuesday, January 8, was the first Broker Open Day of 2008. We had 632 Garrett (Evanston) open and were thrilled with the number of visitors/agents that previewed the house. Speaking with many of the agents and then some of our co-workers here at CBRB, there didn't seem to be a clear trend about the real estate market in 2008.

There was a lot of discussion about how homes were priced. BTW, many homes on tour were either re-activated or listed after having been offered as EXEMPT for 30-45 days. It seemed easy to claim that all homes were over-priced. I don't necessarily agree with that. There were homes that continue to be overpriced but much of the new stock appeared to embrace the new reality of the market and price accordingly. Case in point: one home in Wilmette already sold (yes, it was exempt and was actively marketed for 45 days before going on the "open" market. It needs a lot of work and is in a great location ... but it was priced under $1MM and presented value. That may be the first, strong theme of 2008.

More to come.

DS

We'll see how the market begins this weekend - the first real Open House weekend.