There is much to choose from in the Chicago area for real estate.
The housing market in Chicago covers a very large area made up of four main sections that break down into more than 20 distinct neighborhoods. The main sections are the Downtown area,
where many of Chicago's cultural venues, shops and restaurants are located; the North Side, which features the Magnificent Mile and the Gold Coast, two very popular and affluent neighborhoods; the South Side, which has several vibrant ethnic and intellectual communities; and the West Side, which sports many new condominiums with more in development, making it a desired location for young professionals.
Like much of the country, Chicago's real estate market continues to be slow; of course this is good news for buyers. Those in the market for a condo, loft, house or apartment will find affordable options available in even the most desirable neighborhoods, including Pilsen, Bucktown, Hyde Park, Lakeshore East, Beverly, Roscoe Village, Wicker Park, Rockwell Crossing and Bridgeport.
A quick online search will yield a plethora of real estate listings, which can be browsed to get an idea of what the current property resale values are in different areas of the city. This is good information for anyone wanting to buy a home. Buyers should also read the blogs maintained by Chicago's realtors; the better ones will give an indication of what each area is like as a community and what it has to offer its residents. Relocation.com has links to some of the best ones. Another good source of information for prospective residents is the city's official website: cityofchicago.org.
Once a buyer has established familiarity with the area, there are steps that will make the search for a new home go much more smoothly, including obtaining loan pre-approval, shopping around for good rates on loans and double checking one's credit report ahead of time.
Finally, an extremely important step to finding good housing in Chicago is to hire a Buyer's Agent, who should look out for the buyer's interest during the entire process. To find a good agent, get referrals if possible, attend open houses and ask to meet with former clients. A buyer needs an agent who knows the market; it is also vital to find someone who will listen to the buyer's needs and work on their behalf. Even with a good agent it's up to the buyer to ask questions, take notes and be unafraid to negotiate. Following these steps should ensure that the buyer finds a Chicago property that's perfect for them.
