Archive for December 2011

When Homes Are Overpriced - Example: Oak Brook

When Homes Are Overpriced - Example: Oak Brook
Single family homes in Oak Brook are way overpriced. How do I know this? There are two glaring indicators based upon sales data from the last year. First, all you have to do is look at what homes in Oak Brook are selling for relative to their list prices and the discounts are huge compared... Read more »

Thank God Chicago Is Raising Parking Rates!

Thank God Chicago Is Raising Parking Rates!
Crain’s reported yesterday that Chicago is raising the rates on street parking next week by up to 17% in some areas. Predictably, this news is being met with disgust by most residents of the city. However, as far as I’m concerned this action is long overdue. I’ve been praying for this all year. This is... Read more »

Chicago Home Prices Likely To Hit New Low In January

Chicago Home Prices Likely To Hit New Low In January
With Tuesday’s release of the Case Shiller index showing another drop in Chicago home prices I thought I would take a closer look at what lies in store for 2012. According to the Case Shiller folks there’s normally a bit of seasonality in Chicago home prices with the September Case Shiller index about 3% above... Read more »
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Chicago Home Prices Continue Falling In October

Chicago Home Prices Continue Falling In October
The Case Shiller Home Price Index just came out and it shows a continued decline in Chicago home prices in October. If you will recall prices had been rebounding for several months – for the third time. Then starting in September they turned around. Now in October this quadruple dip is starting to take shape,... Read more »

ZooLights Makes For A Great Family Evening

ZooLights Makes For A Great Family Evening
I can’t believe I’ve never been to Lincoln Park Zoo’s ZooLights before but I saw it advertised on TV so I thought I would beg our family to go. We need more family activities and it was the first time in 6 months that everyone was together. My daughters are 21 and 18 so I... Read more »

More Detail On Chicago Foreclosure Activity

More Detail On Chicago Foreclosure Activity
I finally figured out a more intelligent way to show and discuss the RealtyTrac foreclosure data for Chicago. The issue has been that RealtyTrac tracks 3 different stages of foreclosure activity and then adds them up: default notices, auction notices, and bank repossessions. However, a property gets counted each time it moves to a new... Read more »
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Please Gore My Ox With Higher Fannie And Freddie Fees

Please Gore My Ox With Higher Fannie And Freddie Fees
Warren Buffett got a lot of attention a while back by begging the government to raise his taxes so I thought I would go for the same publicity by begging the government to raise the guarantee fees that Fannie Mae and Freddie Mac charge on mortgages that they guarantee. The National Association of Realtors, The... Read more »

Scheduled Foreclosure Auctions Reach 6 Month High In Chicago

Scheduled Foreclosure Auctions Reach 6 Month High In Chicago
RealtyTrac came out with their November foreclosure activity report today and on a national basis they are forecasting a new wave of foreclosures: Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into... Read more »

WSJ: Buying A Home Trumps Renting In Chicago

WSJ: Buying A Home Trumps Renting In Chicago
I know I’ve posted on this before but once again an analysis has come out that claims that buying a home trumps renting one in Chicago. A couple of weeks ago the Wall Street Journal wrote an article on the renting vs buying dynamic in 28 metropolitan areas and in 13 of those markets, Chicago... Read more »
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New Homes Selling Fast In Chicago's West Town Neighborhood

New Homes Selling Fast In Chicago's West Town Neighborhood
As a follow up to yesterday’s post on the comeback in spec homes in Chicago I wanted to highlight the success that one builder in particular has had in the West Town (East Village) neighborhood. Noah Properties (the builder formerly known as Ultimate Homes) built 3 new single family homes almost right next to each... 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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