The Real Estate DANGER Report: Agent Competency

The Real Estate DANGER Report: Agent Competency
Several years ago (I think it was around 2014) the National Association of Realtors commissioned Stefan Swanepoel, a real estate industry consultant, to conduct a study of the chief threats facing the real estate industry. He and his colleagues surveyed close to 8000 real estate agents, interviewed 74 senior industry executives, and studied over 6000... Read more »

$75 MM Investment In Rex Homes Makes No Sense

$75 MM Investment In Rex Homes Makes No Sense
A few weeks ago Rex Homes, another real estate startup with a unique business model, raised an additional $45 MM in a third round of financing, bringing their total to $75 MM. God knows the real estate industry is in sore need of new business models. Home buyers and sellers willingly waste billions in commissions... Read more »

Chicago Real Estate Market Update: January Home Sales Hit 4 Year Low

Chicago Real Estate Market Update: January Home Sales Hit 4 Year Low
It looks like January was another weak month for home sales in the Chicago real estate market – down 7.1% from last year. Check out the graph below for the historical perspective. All Januaries are flagged with red markers and the light blue line is a 12 month moving average. January came in lower than... Read more »
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How Dual Agency Affects Commissions And Rebates

How Dual Agency Affects Commissions And Rebates
Last week I wrote about how some researchers had measured the cost of dual agency transactions. They were able to determine that home sellers lost roughly 1.4% of the purchase price even when dual agency was disclosed. However, there are also some additional impacts on the home buyer and the seller and it all has... Read more »

The Cost Of Dual Agency In Real Estate Transactions

The Cost Of Dual Agency In Real Estate Transactions
In numerous past blog posts I’ve alluded to the problems of dual agency. The fundamental problem is that when there is only one real estate agent “representing” both sides of the transaction whose interest takes priority? In Illinois the way it’s supposed to work is that the real estate agent who is about to work... Read more »

Case Shiller: Chicago Condos Show Weakest Price Gains In Almost 4 Years

Case Shiller: Chicago Condos Show Weakest Price Gains In Almost 4 Years
Dow Jones S&P CoreLogic just released their November Case Shiller home price indices and they show further slowing in price appreciation for both the nation and the Chicago area. For single family homes year over year appreciation in the Case Shiller Chicago index slowed only slightly to 3.1% vs. 3.3% in October. However, broader measures... Read more »
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Chicago's Most Expensive Condo Sales Of 2018

Chicago's Most Expensive Condo Sales Of 2018
Last week I looked at Chicago’s most expensive single family home sales of 2018 and last year was a bit stronger at the high end than 2017 – 14 homes sold above $4 MM vs. 11 the year before. However, now I’m turning my attention to the most expensive condo sales of 2018 and last... Read more »

December Saw Near Record Low In Chicago Foreclosure Activity

December Saw Near Record Low In Chicago Foreclosure Activity
ATTOM Data Solutions released their Year End 2018 US Foreclosure Market Report yesterday and they also were kind enough to provide me with the December Chicago foreclosure activity data which I used to update my graph below. Chicago’s total foreclosure activity for December was the second lowest since I’ve been compiling the data and down... Read more »

Chicago's Most Expensive Single Family Home Sales Of 2018

Chicago's Most Expensive Single Family Home Sales Of 2018
You may have heard that the high end of the Chicago real estate market was really smoking hot in 2018 but the reality was a bit more tepid. Don’t get me wrong. 2018 appears to have had more uber-expensive activity than 2017 with 14 home sales above $4 MM (my arbitrary cutoff) compared to 2017’s... Read more »
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Contradictions And Irony In The Anti-Gentrification Narrative

Contradictions And Irony In The Anti-Gentrification Narrative
Last week I wrote about the gentrification trend analysis that DePaul’s Institute For Housing Studies does and how it can help identify the neighborhoods with the best price appreciation potential. In reviewing their report I was struck by the monumental contradictions and irony of the whole anti-gentrification movement. Even though I’ve touched on this subject... Read more »