Archive for September 2011

My Former Business Partner Is Suing Facebook

God help Mark Zuckerberg and Facebook. They messed with the wrong guy. My friend and former business partner, Brian Hand, founded another company called Timelines 3 years ago in Chicago. You can already see where this is going, right? FaceBook has been testing a new feature called timelines which is supposed go live this weekend... Read more »

Rosie O'Donnell Closes On Lake View Home For $2.25 MM Cash

Rosie O'Donnell Closes On Lake View Home For $2.25 MM Cash
It looks like Rosie O’Donnell closed on her Lake View home at 1517 W Grace on Monday. It only took 2 weeks to close as it was an all cash deal – no surprise. It was also a dual agency deal – ugh! I also suspect she didn’t get a buyer rebate – ugh! The... Read more »

Chicago Home Prices Continue To Increase In July

It seems like everyone was trying to get to the July Case Shiller home price index numbers at the same time this morning. They were released at 8 AM Central time but the site was slammed for the first 9 minutes. I guess it’s really popular data. What the data showed is that in the... Read more »
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When 30% Of Homeowners Have Little To No Equity...

When 30% Of Homeowners Have Little To No Equity...
A couple of weeks ago CoreLogic came out with their negative equity report for the second quarter and once again it showed about 30% of Chicago homeowners with little or no equity in their homes. To be exact, 25.2% are completely underwater on their mortgage and another 5.2% are within 5% of being underwater. That’s... Read more »

Should You Wait To Sell Your Home?

Should You Wait To Sell Your Home?
It’s the perennial question. Every potential home seller agonizes over whether or not now is the time to sell because invariably they are looking at realizing a loss on their home. As I’ve addressed before there is a lot of irrational economic thinking that goes into this decision that causes people to delay getting on... Read more »

Should Your Condo Association Be Limiting Rentals?

Should Your Condo Association Be Limiting Rentals?
As many would-be sellers face losing all the equity in their home and maybe even having to write a check at closing they often turn to renting their home out as a way to cover a portion of their expenses so they can move to a new home. The only problem is that when that... Read more »
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A New Twist On Mortgage Rates - More Record Lows?

Just how low can mortgage rates go? It’s been incredible how mortgage rates just keep hitting new record lows every week. The last data I have shows the 30 year at 4.09%! And for over a year now I’ve been thinking that mortgage rates would spike up at any minute. I even tried locking in... Read more »

Most Expensive Chicago Area Mansion Heads to Auction Block October 29

Serving suburbs like Hinsdale and Oakbrook, I’m no stranger to jaw dropping and inspiring luxury properties but every once in a while a house really gets my attention. That property is “Le Grand Reve” (The Big Dream), located in Chicago’s affluent north shore suburb of  Winnetka, Illinois.  It is truly an architectural wow.  Built by Richard Landry Design Group,... Read more »

Government Looking To Steal Money From Investors For Homeowner Handouts

Government Looking To Steal Money From Investors For Homeowner Handouts
When Obama delivered his jobs speech about a week ago he dropped a hint about a proposed program to work with federal agencies to help responsible, underwater homeowners refinance their mortgages. As he described it this would  “put more than $2,000 a year in a family’s pocket, and give a lift to an economy still... Read more »
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24% Increase In Foreclosures Not As Bad As It Seems

Despite the fact that RealtyTrac just released their August Foreclosure Market Report showing a 24% increase in foreclosure activity in Chicago from July it’s probably not as bad as it seems. As you can see from the more than 2 years of foreclosure activity in the graph below, fluctuations of this magnitude are not that... Read more »