Defying Logic, Real Estate Commissions Rise

Defying Logic, Real Estate Commissions Rise
RealTrends is a residential real estate brokerage industry publishing and consulting company that analyzes various industry trends. Not quite a year ago they ran an article on the impact of inventory, brokerage models, and referral fees on real estate commissions. One of their more compelling arguments was their claim that lower listing inventory resulted in... Read more »

The Strange Patterns In University Village Condo And Townhome Prices

The Strange Patterns In University Village Condo And Townhome Prices
It’s been a couple of years since I have reviewed University Village* condo and townhome prices. Over the last year or so I’ve been monitoring the sales flow there and I’ve been intrigued by how much of the available inventory has been overpriced and consequently has languished on the market. Occasionally I’ll see a transaction... Read more »

Chicago Foreclosure Activity Drops 35% From Last Year

Chicago Foreclosure Activity Drops 35% From Last Year
ATTOM Data Solutions, parent company of RealtyTrac, released their Q1 2019 U.S. Foreclosure Market Report this morning. For the nation as a whole foreclosure activity was down 15% from a year ago to the lowest level since the first quarter of 2008. According to Todd Teta, chief product officer at ATTOM Data Solutions: While some... Read more »
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Chicago Real Estate Market Update: Another 5 Year Low In Home Sales

Chicago Real Estate Market Update: Another 5 Year Low In Home Sales
Well, it looks like March was the 5th month in a row that the Chicago real estate market had declining home sales – down a whopping 11.6% from last March. In fact, that was the lowest home sales in 5 years and I should point out that that also means that 11 out of the... Read more »

Lawyers & Realtors Are Screwing Up Cook County Property Tax Prorations

Lawyers & Realtors Are Screwing Up Cook County Property Tax Prorations
Because Cook County property taxes are paid in arrears a home seller always owes back property taxes at closing which need to be paid. The home buyer certainly doesn’t want to pay them. However, the actual amount owed is unknown at that time. Therefore, the buyer and the seller have to agree upon some sort... Read more »

How Home Buyers And Sellers Can Navigate The Cooperating Commission

How Home Buyers And Sellers Can Navigate The Cooperating Commission
On Thursday I explained how cooperating commissions work, who pays them, and what impact it has on real estate transactions. What I put off until today was the various options that home buyers and sellers have in lowering the cost of these commissions – although I did mention how home sellers could take advantage of... Read more »
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The Truth About Coop/ Buy-side Real Estate Commissions

The Truth About Coop/ Buy-side Real Estate Commissions
A couple of weeks ago I wrote about those allegations of conspiracy and collusion. No, not Russian interference in our election. I’m talking about that class action lawsuit regarding alleged price fixing with regard to real estate commissions. It centers around cooperating (buy side) commissions – why they are needed and how they are priced.... Read more »

Case Shiller: Chicago Area Home Price Gains Slowest In A Year

Case Shiller: Chicago Area Home Price Gains Slowest In A Year
The folks at Dow Jones S&P CoreLogic released their much awaited January Case Shiller home price index for the nation and the Chicago area (along with 19 other metro areas) this morning. The big headline making the rounds today is that for the nation as a whole year over year home price gain of 4.3%... Read more »

Chicago Foreclosure Starts Hit 22 Month High In February

Chicago Foreclosure Starts Hit 22 Month High In February
I just picked up the latest foreclosure data from ATTOM Data Solutions’ RealtyTrac Web site and updated my graph below. Once again they only released a short commentary on the state of US foreclosures and they note that Illinois gets bragging rights on being the state with the 5th highest foreclosure rate. I’m sure that’s... Read more »
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Real Estate Experts More Optimistic About Home Prices Except For Chicago Area

Real Estate Experts More Optimistic About Home Prices Except For Chicago Area
Zillow and Pulsenomics recently came out with their first quarter home price expectations survey of more than 100 real estate experts. The graph below provides their updated view (the orange line) from December, dropping 2018 appreciation from the time horizon and just focusing on the next 5 years, including 2019. If you go back to... Read more »