Archive for October 2012

Chicago Home Price Rise Slows In August

Chicago Home Price Rise Slows In August
The August Case Shiller home price index must have been hotly anticipated because their Web site was unresponsive until about 8:20 this morning. When I finally got the data it showed a continuing rise in Chicago home prices but at a slower rate than recent months. Single family home prices rose 0.6% from July while... Read more »

Hurricane Sandy Will NOT Be Good For The Economy

Hurricane Sandy Will NOT Be Good For The Economy
I decided to write this post just in case the premise of its title is not obvious to everyone. Apparently it’s not since I was watching a bit of CNBC earlier this morning and caught Jim Cramer explaining how Hurricane Sandy will boost GDP. Technically he’s correct and it will create jobs and it will... Read more »

Chicago Homes Selling In Record Time

Chicago Homes Selling In Record Time
I’ve been telling you for a while how the Chicago housing market seems to have really turned the corner lately with demand up, supply down, and homes selling in record time. Although I’ve already shown you the record low home inventory levels in Chicago I haven’t really shown you just how fast homes are selling.... Read more »
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14,000 Chicago Pre-Market Foreclosures Now Listed On Zillow

14,000 Chicago Pre-Market Foreclosures Now Listed On Zillow
If you’ve ever tried to get information on foreclosures that are not on the market before you know how difficult it can be. A realtor can get some of the information for you or you can buy a subscription to a special database. But just yesterday Zillow introduced a new feature on their Web site... Read more »

After More Than 2 Years University Village's Most Expensive Condo Finally Sells

After More Than 2 Years University Village's Most Expensive Condo Finally Sells
At the south end of the University Village development there are 4 mid-rise buildings, 2 of which are newer construction – the 811 and 833 W 15th loft buildings. Most of the units in these buildings are under 1200 square feet, have modest finishes, and have sold for as little as $106,000 for a 1... Read more »

Chicago Area Home Sales Reach Highest Level In 6 Years

Chicago Area Home Sales Reach Highest Level In 6 Years
Because I post about the City of Chicago home sales activity a couple of weeks ahead of the Illinois Association of Realtors I usually don’t do another post when they finally catch up to me. However, this month I’m making an exception because the one set of statistics that I do wait to update until... Read more »
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Housing Guru: Low Mortgage Rates Can't Fix Housing; Too Soon To Call Bottom

Housing Guru: Low Mortgage Rates Can't Fix Housing; Too Soon To Call Bottom
On Friday CNBC interviewed Robert Shiller, the guru of the housing market – the man who saw the housing bubble coming, developed the Case Shiller home price index, and coined the term “irrational exuberance”. This Yale economics professor has studied the housing market going back 150 years and is always a great source of insight.... Read more »

Shadow Inventory Of Distressed Homes Continues Decline

Shadow Inventory Of Distressed Homes Continues Decline
Yesterday I posted on the latest foreclosure activity for Chicago and the nation. However, a few days earlier CoreLogic released their shadow inventory report for July and the second quarter and it shows a continued decline in the number of homes that are either seriously delinquent, in foreclosure, or owned by banks. As you can... Read more »

5 Year Low In Foreclosure Activity But Not In Chicago

5 Year Low In Foreclosure Activity But Not In Chicago
With today’s release of RealtyTrac’s September foreclosure activity report you will see headlines claiming that we just saw a 5 year low – but that’s at the national level. Meanwhile, all you have to do is look at the long term chart below for Chicago foreclosure activity and you can see that it’s anything but... Read more »
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Ukranian Village: Gonnella Baking Building Gives Way For New Homes

Ukranian Village: Gonnella Baking Building Gives Way For New Homes
You’ve seen their trucks and their bread around town. Gonnella Baking used to have their corporate headquarters at 2002 – 2014 W Erie, just west of Damen, in Chicago’s Ukranian Village neighborhood. Parts of their Web site still show that address as the corporate headquarters but employees who haven’t yet gotten the memo (e.g. the... 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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