Archive for July 2012

Chicago Home Prices: Largest Increase In 24 Years

Chicago Home Prices: Largest Increase In 24 Years
Finally we are seeing some real evidence of a turn in Chicago’s home prices and it’s not too surprising, given the tight inventory situation we are living with and the multiple offers we are seeing. The Case Shiller home price index just came out and it showed a 4.5% increase in single family home prices... Read more »

Chicago's East Village A Mecca For New Construction Homes

Chicago's East Village A Mecca For New Construction Homes
About 5 years ago I got really intrigued by the strange land west of the Kennedy between Grand and Division. I noticed quite a few new construction homes going up there and thought for sure this was some kind of misguided construction boom – the wrong homes in the wrong neighborhood at the wrong time.... Read more »

Zillow's Bottom Call On The Housing Market: Don't Get Too Excited Yet

Zillow's Bottom Call On The Housing Market: Don't Get Too Excited Yet
Today Zillow released their Home Value Forecast, which they claim shows a bottom in the US housing market during the first quarter. In addition, Zillow reported that for the first time in 5 years the country showed an increase in year over year housing prices and they are projecting a 1.1% increase in home prices... Read more »
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Oprah's Condo Closes For Less Than Half What She Paid

Oprah's Condo Closes For Less Than Half What She Paid
Back in May when Oprah Winfrey listed her condo at 199 E Lake Shore Drive (unit 6E) for half what she paid for it at the bubble peak in August 2006 we knew she was going to be on the phone with Dr. Phil a lot. Not really. If anyone could handle a $2.8 MM... Read more »

Improving Employment Should Drive Chicago Housing Market Higher

Improving Employment Should Drive Chicago Housing Market Higher
When I finally got around to updating my Chicago area real estate statistics page with the most recent labor data the other day I was struck by the fact that there has been a general upward drift in the employment numbers for the Chicago metro area over the last couple of years. It’s easy to... Read more »

Chicago Foreclosure Activity Relatively Stable At Lower Level Than 2-3 Years Ago

Chicago Foreclosure Activity Relatively Stable At Lower Level Than 2-3 Years Ago
RealtyTrac came out with their mid-year foreclosure activity report yesterday and, despite what you read in the headlines, Chicago didn’t really change that much. Total activity was down about 2% from May, which is not significant at all, and it’s certainly lower than it was 2 – 3 years ago. However, it is still higher... Read more »
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Zillow Is Wrong About Chicago Being A Home Buyers' Market

Zillow Is Wrong About Chicago Being A Home Buyers' Market
Zillow just came out with their ranking of the top 10 home sellers’ and home buyers’ markets across the country and the Chicago metro area showed up as the top buyers’ market. Obviously Zillow has not been trying to buy a house in the Chicago area lately. Anyone who has can tell you it’s not... Read more »

Chicago's Fledgling Housing Recovery May Be Losing Steam

Chicago's Fledgling Housing Recovery May Be Losing Steam
When the Illinois Association of Realtors announces June home sales for Chicago in 1 1/2 weeks they will appropriately trumpet June’s 22.4% increase over last year – the 4th month in a row of double digit year over year sales increases. What they won’t tell you about is how June contract activity was pretty disappointing... 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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