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Follow on Google News | Midwest Real Estate Data (MRED) Leaders Cautiously Optimistic About 2012Most Think We Have Hit "Rock Bottom" and 2012 Will Be a Year of Improvement
By: Midwest Real Estate Data Tom Guttilla, Owner of Coldwell Banker Today’s Realtors, sees the real estate market improving at a slow but steady pace. “Rates will stay at historic lows and sales volume is improving but is still at lower levels,” said Guttilla. “This, combined with the pent up demand from the last few years, should ensure future sales increases and improving values, but the latter only after inventories are diminished.” Jim Haisler, Chief Executive Officer of the McHenry County Association of Realtors®, sees the outlook for real estate in 2012 as still struggling but improving. “I think signs are showing improvement but the foreclosures will continue throughout the year, even at a slower pace, which will keep prices low,” said Haisler. “Interest rates may become a factor as the economy improves, however.” Haisler recommends that real estate professionals stay focused on their businesses and education, especially staying current on market trends and changes with lenders. “2012 will be a good year,” added Haisler, “but I think the longer term outlook is even better for the next three to five years.” Anthony Trotto, Attorney and Managing Broker of Anthony J. Trotto Real Estate, believes there are opportunities despite continuing high levels of REO inventory. “The rental market is strong,” said Trotto. “Now is the time for buyers to really look at picking up some rental investment properties.” “MRED is dependent upon the input and oversight from our experienced, well-informed Board members,” said Russ Bergeron, Chief Executive Officer of MRED. “I agree that we have reason to be cautiously optimistic. As we move forward and see the signs of an economy and real estate industry that are turning the corner, we all need to be prepared to take advantage of the 'new normal' market. MRED stands ready to support all of its brokers, agents and appraisers as we move past the last few difficult years into a period of growth and success.” # # # Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to nearly 8,000 real estate offices and 40,000 real estate professionals, including brokers, agents and appraisers End
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