Archive for November 2011

How One Chicago Realtor Made $800,000 Flipping Short Sales

How One Chicago Realtor Made $800,000 Flipping Short Sales
This is a topic that is near and dear to my heart because quite frequently I see peculiar short sales that really make me scratch my head. Ashley Gross of Chicago’s WBEZ radio station just aired an awesome story on how a few Chicago realtors, mostly with one particular real estate brokerage, have managed to... Read more »

Case Shiller Index: Chicago Home Prices May Be Heading Back Down

Case Shiller Index: Chicago Home Prices May Be Heading Back Down
If the pattern of the last 3 years is any indication of the future we may see a new low in Chicago area home prices this spring. Case Shiller just came out with their September home price index for 20 metro areas and it shows single family home prices declining by 0.8% and condo prices... Read more »

Will Rents Continue To Climb In Chicago?

Crain’s ran a story last week on the rental market in downtown Chicago, highlighting that rents and occupancies dropped off in the third quarter. But when you look at the long term trend you can see that as the housing bubble burst and people found it more difficult and less appealing to buy rents actually... Read more »
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Real Estate Market Is Stronger In Chicago Suburbs Than In City

Monday’s IAR release of October’s home sale numbers for the Chicago area confirmed a pattern that appeared to be emerging recently. That pattern is that home sales for what is known as the Chicago Primary Metropolitan Statistical Area (PMSA) appear to be trending much higher than for just the city of Chicago. So I decided... Read more »

Would You Pay $9.9 Million For This 980 Square Foot Home?

Would You Pay $9.9 Million For This 980 Square Foot Home?
This has to be the strangest listing in Chicago that I’ve ever seen – also the most overpriced one. David Piche of Remax just listed a 980 square foot 4 bedroom, 2 bath single family home at 3710 N Kenmore in the Wrigley Field Adjacent Area for the bargain price of $9.9 MM. The lot... Read more »

Yep! Record Percentages Of Real Estate Contracts Are Falling Apart

Yep! Record Percentages Of Real Estate Contracts Are Falling Apart
As I’ve pointed out a few times there has lately been a really large discrepancy between the number of real estate contracts written and the number of closings in Chicago. I was able to confirm that the contracts were certainly outstanding longer than expected but I couldn’t be sure if there were also a higher... Read more »
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Illinois Congressional District 4: Worst Example Of Gerrymandering

From Wikipedia: “In the process of setting electoral districts, gerrymandering is a practice that attempts to establish a political advantage for a particular party or group by manipulating geographic boundaries to create partisan, incumbent-protected districts.” So what is one of the worst examples of gerrymandering in the country? What is the example that the national... Read more »

Retired Retail Executive Lists Co-Op For $7.25 MM On Chicago's Best Street

Retired Retail Executive Lists Co-Op For $7.25 MM On Chicago's Best Street
In my opinion East Lake Shore Drive – essentially the east extension of Oak Street – is the premier luxury address in Chicago. It’s just steps away from the action, on a quiet street, with lots of trees, a park, gorgeous, protected views of the lake and the northern part of the city, and right... Read more »

Rent Oprah Winfrey's Co-op For $15,000/ Month

Rent Oprah Winfrey's Co-op For $15,000/ Month
It seems that even Oprah Winfrey has become a reluctant landlord these days. According to the Chicago Tribune, after trying unsuccessfully to sell her Streeterville co-op in the 2008/ 2009 timeframe for $6 MM, Oprah has decided to rent her co-op out. According to the Tribune story she “never actually moved into the unit, choosing... Read more »
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Isn't It Time For The Government To Get Out Of The Housing Market?

Isn't It Time For The Government To Get Out Of The Housing Market?
Consider everything the government does to support the housing market – and this has all been going on for quite a while: Tax deductibility of mortgage interest Federal Housing Administration (FHA) Government National Mortgage Association (Ginne Mae – GNMA) US Department of Housing and Urban Development (HUD) Federal National Mortgage Association (Fannie Mae – FNMA)... 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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