Archive for November 2012

Case Shiller: Chicago Home Prices Still Down From Last Year

Case Shiller: Chicago Home Prices Still Down From Last Year
Lately when I check on the Case Shiller home price index for Chicago each month I anxiously wait to see if we can finally say that home prices have risen over last year. Alas, we have to wait for another month. In September single family home prices dropped by 0.6%, which is normal at this... Read more »

Illinois Makes Forbes' List Of Death Spiral States

Illinois Makes Forbes' List Of Death Spiral States
Yeah Illinois! We made Forbes’ list of death spiral states  – states to avoid when buying a home or investing in municipal bonds. States ended up on this list by excelling in two areas: 1) having a high ratio of inhabitants dependent upon the state relative to the number of people productively employed and 2)... Read more »

Deficiency Judgments: The Dark Side Of Short Sales

Deficiency Judgments: The Dark Side Of Short Sales
Just because you do a short sale doesn’t mean that you get to walk away from your underwater house without any financial repercussions at all.  Yes, you may have heard that a short sale allows you to get out from under the heavy burden of owing more than your house is worth but that’s not... Read more »
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Chicago's Most Expensive Condo Ever Sells For $15,000,000

Chicago's Most Expensive Condo Ever Sells For $15,000,000
Well, we all would like to know who it is that bought this 66th floor penthouse unit in the Park Tower at 800 N Michigan Ave because they now hold the record for buying the most expensive condo ever sold in the city of Chicago. If you have $15 MM burning a hole in your... Read more »

Why Does The Government Promote Home Ownership?

Why Does The Government Promote Home Ownership?
As you may have figured out I’m not a big fan of the government’s feeble attempts to prop up the housing market. After just posting about how the government’s losses on the housing market continue to mount I once again asked myself why they insist on promoting home ownership. There are only 2 possible explanations.... Read more »

Surprise! The Government Has Lost Even More Money On Housing

Surprise! The Government Has Lost Even More Money On Housing
As if it wasn’t bad enough that the government has lost $241 B on Fannie Mae and Freddie Mac the FHA’s (Federal Housing Administration) annual financial status report to congress, released on Friday, projects that they are likely to be in the hole by $16.3 B. Although the FHA has sufficient reserves to cover about... Read more »
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Chicago Foreclosure Activity Still Trending Upward

Chicago Foreclosure Activity Still Trending Upward
RealtyTrac came out with their October Foreclosure Market Report yesterday and it shows a continued upward trend in foreclosure activity for Chicago. I don’t pay too much attention to the month to month fluctuations in these numbers but there is a clear trend over the last 10 months where each month has been above the... Read more »

Unique Home/ Investment Opportunity In Uptown

Unique Home/ Investment Opportunity In Uptown
This multi-family building at 848 W Lakeside Pl in Uptown popped up on one of my investor’s searches the other day and really caught my eye. Just hitting the market 4 days ago, what makes it unique is that it’s a 5 unit building but one of the units, with over 3000 square feet of... Read more »

When You Factor Transportation Costs Into Housing Affordability...

When You Factor Transportation Costs Into Housing Affordability...
Everyone looking to buy a home in Chicago has to come to grips with their commuting options. Along with schools and the cost of the home itself transportation is one of the big 3 factors in deciding where to live. But the impact of transportation is usually assessed in very qualitative terms – and I... Read more »
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Shortage Of Homes For Sale Continues To Frustrate Buyers

Shortage Of Homes For Sale Continues To Frustrate Buyers
I know I’m sounding like a broken record but everyone who is looking to buy a home right now – or even an investment property – in the Chicago area is totally frustrated these days by the lack of inventory. We just updated our October inventory numbers for 2 -3 bedroom condos in Chicago and... 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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