February 25th, 2008 11:36 PM by Mark Malave
A little good news if you live in Chicago:"Sales were weak in all parts of the country except the Midwest, where sales posted an increase of 3.4 percent. Sales dropped by 3.6 percent in the Northeast, 2.1 percent in the West and 0.5 percent in the West."
It's a pretty simple issue as it stands. The more inflated neighborhoods (Lincoln Park, Lakeview,Bucktown, Ravenswood) will have the biggest correction. As always, the most important characteristic in real estate is PATIENCE! Things will turn around and interest rates are low!