For Sale By Owner: The Myths And Lies About Selling Your Own Home

For Sale By Owner: The Myths And Lies About Selling Your Own Home
Dennis Rodkin posted a story in Crain’s last week about the rise in for sale by owner (FSBO) listings on the forsalebyowner.com Web site: For Realtors, an unwelcome trend. Later in the week he also appeared (well, his voice was heard) on NPR discussing the same topic. The bottom line is really nothing new. Some... Read more »

Chicago Area Employment Picture Bodes Well For Housing Market

Chicago Area Employment Picture Bodes Well For Housing Market
Although I rarely write about the Chicago area employment picture I do maintain that data as part of my Chicago real estate market statistics page. As I was updating it recently I realized that it’s worth taking a step back and reviewing where we’ve been and how it is really helping the Chicago area real... Read more »

Case Shiller: Chicago Home Price Gains Continue To Moderate

Case Shiller: Chicago Home Price Gains Continue To Moderate
S&P Dow Jones Indices just released their Case Shiller home price indices for 20 metro areas including Chicago for the 3 months ending in June. As the headline indicates for the nation as a whole: “Widespread Slowdown in Home Price Gains”. The index is still showing gains year over year but at nowhere near the... Read more »
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Penn And Teller Episode Explains Why Real Estate Commissions So High

Penn And Teller Episode Explains Why Real Estate Commissions So High
I’m always baffled that in this day and age most people are still paying such high real estate commissions to traditional real estate agents to sell their places – especially at the high end – or passing up the opportunity to get a commission rebate from their real estate agents. But maybe it’s still the... Read more »

Government Gone Wild: Bank Of America Settlement Will Prolong Next Financial Crisis

Government Gone Wild: Bank Of America Settlement Will Prolong Next Financial Crisis
As you may have already heard the Department of Justice has reached a nearly $17 B settlement with Bank of America for the prior mortgage market misdeeds of two of the companies they acquired during the financial crisis – Countrywide Financial and Merrill Lynch. This sort of settlement scores a lot of points for populist... Read more »

CHA Super Voucher Program Being Scaled Back

CHA Super Voucher Program Being Scaled Back
A few weeks ago I wrote about the crazy CHA super voucher program that had a few lucky families living in some of Chicago’s finest apartment buildings while 15,000 other families waited for any kind of housing option: CHA Vouchers Paying For High Rent Apartments. Well, fortunately, it looks like the CHA is finally reigning... Read more »
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Chicago Property Taxes Hit Poorest Disproportionately

Chicago Property Taxes Hit Poorest Disproportionately
I’m certainly not trying to be a populist here but when something doesn’t make sense it really bothers me and I feel compelled to point out the absurdity (which is why I got into the real estate business but that’s another story). And when it comes to Chicago property taxes there’s a lot that doesn’t... Read more »

RealtyTrac Market Report: Chicago Foreclosures Not Likely To See Much More Improvement

RealtyTrac Market Report: Chicago Foreclosures Not Likely To See Much More Improvement
RealtyTrac released their July Foreclosure Market Report yesterday and the data for Chicago foreclosures continues to show a bottoming in activity. When you look at the long term graph below, which breaks down the activity into the three basic components, you can see just how far we have come – less than half the peak... Read more »

Why You May Not Want To Use A Bank For Getting A Mortgage

Why You May Not Want To Use A Bank For Getting A Mortgage
When getting a mortgage (technically a mortgage is a conveyance of interest in a property for a loan so I think it’s the borrower who “gives” the mortgage but everyone refers to it as “getting a mortgage”) it’s not just about getting the lowest rates and up front costs. Sure that matters but it’s also... Read more »
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July Chicago Real Estate Market Update: Home Sales Rapidly Declining

July Chicago Real Estate Market Update: Home Sales Rapidly Declining
In two weeks when the Illinois Association of Realtors releases their July numbers it will definitely look like the Chicago real estate market is on the decline. They will report sales down by about 8.4% from last year, which is in fact a pretty significant number. And, due to the systematic bias in their reporting,... 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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