Developers Dropping Prices to Move Inventory
From The Chicago 77: As we finish up 2009, pricing is the focus to make the sales happen before the end of the year. Even developers are taking their hits as Belgravia Group announced reductions of more than 10% on their remaining townhomes at one of their developments in University Village. Bluestone Development has continued to lower prices on their Fletcher Row Townhomes Development in the Hamlin Park/Roscoe Village neighborhood as well as offer buyer financing and incentives. As developers begin taking substantial price changes, there is more pressure on residential resale property values.