Chicago Crime Rate: There Really Has Been A Dramatic Decline

Chicago Crime Rate: There Really Has Been A Dramatic Decline
Every so often I like to take a look at crime statistics since home buyers often are very concerned about the Chicago crime rate in deciding where to live – Chicago vs. the suburbs and one neighborhood vs. another. There is a Chicago crime data portal that anyone can use to take a look at... Read more »

Mortgage 360: Lending Standards Come Full Circle

Mortgage 360: Lending Standards Come Full Circle
The following guest post was written by Jackson Cooper of Jensen & Company. The Mortgage Bankers Association expects total mortgage originations to total $1.19 trillion in 2015, an increase of 7 percent from last year. Originations have increased every quarter since Q2 2014 after four consecutive quarters of steep declines. The National Association of Realtors... Read more »

How To Make Money Flipping Condos

How To Make Money Flipping Condos
The following guest post was written by Bryn Huntpalmer who writes for Modernize.com, which is a Web site for gathering design ideas and seeing how other homeowners have transformed their homes. By definition, flipping a property means buying at a discounted price, then selling the property at or above market value for a profit. It... Read more »
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Case Shiller: Chicago Home Prices Eke Out Gain For 2014

Case Shiller: Chicago Home Prices Eke Out Gain For 2014
S&P Dow Jones Indices released the December Case Shiller home price index today, which finalizes the numbers for 2014. The Case Shiller Chicago numbers show that we barely eked out home price appreciation last year. In fact, Chicago was in last place for year over year home price gains across 20 metropolitan areas with a... Read more »

Why Real Estate Commissions Are So High: Paying For Wasted Time

Why Real Estate Commissions Are So High: Paying For Wasted Time
I’ve decided that I’ll never be able to write the comprehensive post on all the reasons why real estate commissions are so high, though I have covered some of them previously in posts such as this one: Why Do Real Estate Agents Make So Much Money? There are just too many reasons to cover in... Read more »

Home Price Forecast: Experts More Optimistic About Price Appreciation

Home Price Forecast: Experts More Optimistic About Price Appreciation
On Friday Pulsenomics came out with the results of their quarterly survey of 101 real estate experts sponsored by Zillow. Despite what the press release says the experts are actually weighing in a bit more optimistic in their home price forecast than they did last quarter. The press release quotes Terry Loebs, Founder of Pulsenomics,... Read more »
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Zillow Must Be Taking A Lot Of Heat On Their Faulty Zestimates

Zillow Must Be Taking A Lot Of Heat On Their Faulty Zestimates
More than 3 years ago I posted on just how inaccurate Zillow’s Zestimates are in Chicago. I’ve been meaning to update this analysis and even include a few more reference estimates – Zillow doesn’t have a monopoly on randomly generated automated estimates. I still intend to do this but in the last week I noticed... Read more »

RealtyTrac Market Report: Higher Chicago Foreclosure Activity Reducing Shadow Inventory

RealtyTrac Market Report: Higher Chicago Foreclosure Activity Reducing Shadow Inventory
RealtyTrac released their January Foreclosure Market Report this morning and the Chicago foreclosure activity data remains at a level higher than most recent months. However, this seems to be mostly good news as we made considerable progress in working through our shadow inventory. The graph below shows the long term trend in Chicago foreclosure activity... Read more »

Vince Vaughn's Condo Back On The Market At Lower Price

Vince Vaughn's Condo Back On The Market At Lower Price
Vince Vaughn’s condo in Chicago went back on the market on Sunday at a much reduced price – a mere $13.9 MM. As a point of reference he paid $12 MM for it in 2006 but who knows how much he put into it since buying it. It’s also currently tied with another nearby condo... Read more »
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Chicago Real Estate Market Update: 2015 Continuing The 2014 Trend

Chicago Real Estate Market Update: 2015 Continuing The 2014 Trend
It looks like the Chicago real estate market is starting 2015 with the same general trend that was in effect for much of 2014. Technically home sales were down for the 2nd year, dropping an additional 6.4% from last year’s slightly lower January numbers. However, in about 2 weeks, the Illinois Association of Realtors will... Read more »
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    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

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