Q: What are the biggest issues facing sellers right now?
A: Some Chicago neighborhoods are seeing a bit of an easing on price increases. It’s not quite a buyer’s market just yet, but I see the price inflation slowing down. At the en...
Q: Tell us a bit about the Domain’s new website and everything you can do with it.
A: We’re excited about our new updated website! It incorporates our new logo and graphic design aesthetic as well as a much better user interface. It...
Q: How do you see people reacting to the fact mortgage rates are still low?
A: The majority of the buyers that are “school sensitive” are out of the market right now because their kids are in school. They’re more tied to the school...
Q: What is the state of the general real estate market in Chicago?
A: In general, in 2016 we saw home prices appreciate to at, or at least near, 2006 levels. Things are pretty much at or near the peak in most neighborhoods in Chicago. To be ...
Q: When it comes to tenants for your rental property, what factors should go into choosing them?
Adam Wavrunek: Whether you self manage or hire a management company, I would recommend doing the following things for any potential tenant.
...
Q: What do you think is the key for buying and owning rental property?
A: A lot of the money is made when you buy, short term and long term, because your return on investment is literally a direct reflection of the rent you’re collecti...
Q: What’s happening in the Chicago market right now? Any interesting trends?
A: In the hottest neighborhoods like the West Loop, Logan Square and Andersonville, we’re dealing with really low inventory. When you see a property availab...
Q: I’m hearing from people that now may be a good time to sell. Why would that be?
A: “One reason is that for last five years, housing prices continue to increase. And if you were to look at increases in year-over-year basis, the big...
Q: Why is the West Loop so hot right now?
A: The West Loop is hot for many reasons:
1. Restaurants/bars — It seems that there is a new bar or restaurant popping up on Randolph Street every week. It is one of the hottest locations fo...
Navy Pier wants a boutique hotel on its east end, and this summer it will begin vetting real estate firms to build, finance and operate the proposed five-story venue.
http://articles.chicagotribune.com/2014-07-09/business/chi-navy-pier-hotel-2...
Q&A with Domain Realty's Adam Wavrunek
How would you describe the current state of Chicago real estate?
I would say the housing market is fairly stable overall. Some people have been surprised that the spring buying season didn’...
By Trent Modglin
So you’re pondering the fixer-upper project. You see the potential to flip a property and make a healthy profit in a short amount of time. Or perhaps it’s just a gut rehab challenge you’ve been looking to tackle on...