Trump resales, above and below ground

As we saw yesterday in my video tour with Tricia Fox, Trump International Hotel & Tower Chicago is just one example of a new high-rise with lots of unsold inventory competing against aggressively priced resales. This topic came up in my conversation with Coldwell Banker agent Jenny Ames, who wrote about the resale environment at Trump for her own blog in early January.

Along with people who closed on their homes and listed them for resale, some buyers who haven’t closed are attempting to sell their contracts through connections within the real estate market. Since they can’t list their contracts on the MLS, they’ve in effect created an “underground” market within the tower, Ames says.

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