House hunting? Know the market in 2011

House hunting? Know the market in 2011

When San Diego member Lauren McNulty and her boyfriend decided to move in together, they knew their six pets might make it difficult to find a good rental. So last year the couple took the plunge into homeownership.

"Prices and interest rates had dropped, and it seemed like a good time to get into the market," says McNulty, who took advantage of an $8,000 federal tax credit that was available at the time.

McNulty was able to find a silver lining in a market that has been generally termed as gloomy. Despite the high rate of foreclosures, record unemployment — a bellwether for home sales — and the increased number of requirements for getting a loan, there were also positive signs in the real estate market last year.

Read more about market trends from the experts, plus get tips on what to watch out for in 2011 by reading the stories below:

  1. Still time to buy low in real estate

  2. Buyer beware: Short sales not always speedy

  3. Mortgage applications raise requirements

  4. Avoid foreclosure: Pros help navigate home sales


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Realtors: Chicago-Area Home Sales Decreased in August, Prices Up

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Chicago home sales were off 15.3 percent in August compared to the same month in 2013.  (Photo by Steven Jack)
Chicago home sales were off 15.3 percent in August compared to the same month in 2013. (Photo by Steven Jack)

Illinois Association of Realtors report says tight home-buying credit market and lower housing inventory to blame for sluggish home sales in Chicago, suburbs.

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