Archive for February 2012

Michael Jordan's House Is For Sale - You Can Own It For $29 Million

Michael Jordan's House Is For Sale - You Can Own It For $29 Million
Michael Jordan’s house at 2700 Point Ln, in Highland Park is for sale, listed at a mere $29 million. It just hit the market today, listed by Katherine Chez of Baird & Warner. Clearly the agent did not check with Zillow before pricing this home because the Zillow god values it at only $4.5 million.... Read more »

Chicago Home Prices Heading Towards New Lows

Chicago Home Prices Heading Towards New Lows
With a few months left before we hit the normal seasonal lows in home prices Chicago has already come very close to the lowest home price levels reached last year. The Case Shiller home price index for December came out today and Chicago fared worse than all the other cities tracked except for Detroit. Single... Read more »

How Low Mortgage Rates Should Change Your View Of High Assessments

A couple of years ago I did an analysis of the tradeoff between assessments and purchase price when buying a condo. In that analysis I concluded that with mortgage rates of 5% a condo assessment that is lower by $100 per month would allow you to purchase a condo that costs $41,311 more. In other... Read more »
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Low Mortgage Rates: It's Not Just About The Monthly Payment

Low Mortgage Rates: It's Not Just About The Monthly Payment
I just locked in a 7 year ARM the other day at 2.875%. No doubt that is one of the lowest mortgage rates in decades and it is one of the primary drivers of my buying a house at this time after renting for about 12 years. In the economic analysis the low interest rate... Read more »

What The Stock Market Is Forecasting For The Housing Market

One of the best forecasters of economic conditions is the financial markets. So much money is riding on it that it reflects the best knowledge of everyone on the planet – the ultimate in crowd sourcing. It has even been proven that orange juice futures offer a better forecast of Florida weather than the national... Read more »

Chicago Foreclosure Activity Taking Off Again

Chicago Foreclosure Activity Taking Off Again
RealtyTrac released their January Foreclosure Market Report the other day and on a national basis it shows that foreclosure activity is gradually increasing after a long period of hibernation. The report also shows that foreclosure activity in Florida, Illinois, Indiana and Pennsylvania increased on a year over year basis for the first time in a... Read more »
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After 2 Years Last University Village Developer Units Sell $200,000 Below Original List

After 2 Years Last University Village Developer Units Sell $200,000 Below Original List
Over the last couple of months the last 2 developer townhomes in Chicago’s University Village quietly sold. Several months back the developer removed their sales center from the corner of Halsted and 14th Place but the two townhomes at 711 W 15th Place and 745 W 15th Place remained on the market and after almost... Read more »

Anthony Pritzker Builds Home 6 Times The Size Of His Sister's

Anthony Pritzker Builds Home 6 Times The Size Of His Sister's
Could this be a case of sibling rivalry? A while back I highlighted Penny Pritzker’s home at 1875 N Orchard as one of the biggest homes of Lincoln Park. I thought it was pretty damn big at 8422 square feet. However, Penny’s home is dwarfed in comparison to the home her brother Anthony Pritzker is... Read more »

Is The Foreclosure Abuse Settlement A Good Thing?

Is The Foreclosure Abuse Settlement A Good Thing?
I’ve been debating all day about whether or not to write this post about today’s announcement about the $25 Billion foreclosure abuse settlement between the US government and 5 major banks. As I understand it the settlement includes several provisions as to where the money from the banks will go: $1.5 Billion goes to borrowers... Read more »
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Chicago January Home Sales Only Slightly Up From Last Year

We’ve got the Illinois Association of Realtors January home sale report for Chicago coming up in a couple of weeks. What it will show is that January home sales were up a paltry 4.9% from January of last year – similar to the change we saw for December Chicago home sales. To put this number... 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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