Archive for December 2012

Economists Show Growing Optimism On Home Prices

Economists Show Growing Optimism On Home Prices
Speaking of home prices….Zillow released their December Home Price Expectations Survey yesterday, coincident with the release of the Case Shiller home price index. It is a survey of 105 economists conducted by Pulsenomics – and the consensus is that home prices at the national level will rise a bit more than 3% per year over... Read more »

Case Shiller: Chicago Home Prices Catching Up To Rest Of Country

Case Shiller: Chicago Home Prices Catching Up To Rest Of Country
S&P just released the October Case Shiller home price index for Chicago and the rest of the nation and, as is normal at this time of the year, prices slipped – but not as much as usually happens. Single family home prices dropped 1.5% in the last month to the level last seen in June/... Read more »

When Buying A Condo Beware Of The Transitory View

When Buying A Condo Beware Of The Transitory View
“There is nothing permanent except change.” The best real estate advice when buying a condo in a downtown Chicago high rise may have come from Heraclitus around 2500 years ago. Just because a condo has a great view today doesn’t mean it will have a great view tomorrow. The Chicago skyline is constantly changing and... Read more »
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Chicago Real Estate Investment Properties Are Hot

Chicago Real Estate Investment Properties Are Hot
In case anyone still cares about real estate after the events of the last few days I thought I would catch you up on what is happening with Chicago’s market for investment properties. The confluence of several factors has created a real frenzy for real estate investments: People with cash are desperate for return with... Read more »

Chicago Foreclosure Activity May Be Trending Downward

Chicago Foreclosure Activity May Be Trending Downward
For the first time this year it appears that maybe Chicago foreclosure activity is beginning to trend downward. This according to the most recent data released by RealtyTrac as part of their November Foreclosure Activity Report. In the graph below, compiled from previous RealtyTrac releases, you can see that defaults and even bank repossessions have... Read more »

Beware Of Home Price Data

Beware Of Home Price Data
There seems to be no shortage of home price data out there since everyone is acutely interested in where home values are going. The only problem is that almost all of this data is misleading at best and totally worthless or wrong at its worst. Case in point: the Chicago Tribune’s median home price heat... Read more »
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Chicago Home Sales: November 9th Month Of Double Digit Increases

Chicago Home Sales: November 9th Month Of Double Digit Increases
Here is your preview of the Illinois Association of Realtors’ release in 2 weeks of November home sales for the city of Chicago: it was another stellar month with sales up by 26.6% over last year. That’s the 17th straight month of increases in home sales over the previous year – the last 9 of... Read more »

Hot Chicago Real Estate Markets: East Village And Ukrainian Village

Hot Chicago Real Estate Markets: East Village And Ukrainian Village
I’ve previously written about all the new development in Chicago’s East Village and Ukrainian Village but until last night I hadn’t figured out how to succinctly demonstrate exactly what has been going on in those West Town neighborhoods and what the impact on the real estate market is. Finally I decided to look at the... Read more »

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff
Back in September I warned about the impending doom awaiting unsuspecting short sellers if they didn’t complete their short sales by the end of the year because the Mortgage Forgiveness Debt Relief Act is set to expire at the end of the year along with many other tax preferences. It’s all part of the fiscal... Read more »
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Are Real Estate Agents Really Stupid And Lazy?

Are Real Estate Agents Really Stupid And Lazy?
You know I love to rag on real estate agents. So I was quite amused Friday night when I passed by the TV just as Jimmy Fallon was doing his thank you note shtick and I heard him say: “Thank you real estate brokers for earning thousands of dollars for saying ‘How about that one?’”... 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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