Archive for January 2013

First Time In 6 Years: Chicago Home Prices Rise Over Last Year

First Time In 6 Years: Chicago Home Prices Rise Over Last Year
This is huge news for Chicago real estate and something I’ve been waiting for for a long time. S&P  just released the November Case Shiller Home Price Index for Chicago and it shows for the first time in 6 years an increase over the previous year. This is an indicator for which Chicago has been... Read more »

What Google Search Trends Tell Us About The Chicago Real Estate Market

What Google Search Trends Tell Us About The Chicago Real Estate Market
I started out reading this research report that was created by Google in conjunction with the National Association of Realtors about online real estate search behavior on Google. Instead of learning something interesting I quickly realized that I was reading a marketing piece about why realtors should buy lots of advertising on Google. So I... Read more »

Statistically, Chicago Temperatures Rise From Here

Statistically, Chicago Temperatures Rise From Here
I hate cold weather. I grew up in Dallas before my family could afford much air conditioning and before sun screen and ubiquitous water bottles. You would think I would know better than to live in Chicago. I’m also a numbers kinda guy. So a long time ago I created this handy little graph of... Read more »
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Michael Jordan's house just got a lot cheaper

Michael Jordan's house just got a lot cheaper
Almost one year ago Michael Jordan placed his house at 2700 Point Ln (clever street name, eh?) in Highland Park on the market for a cool $29,000,000. 324 days later he has dropped the price by $8,000,000 or almost 28%, which is huge. Well, that certainly made it a lot more affordable for me. I... Read more »

Chicago Foreclosure Activity Back On The Decline

Chicago Foreclosure Activity Back On The Decline
Throughout much of 2011 and 2012 Chicago foreclosure activity was trending up but in the last few months of 2012 it took a decidedly better turn. RealtyTrac just released their year end Foreclosure Market Report for the nation along with data at the local level. In the graph below I plot their foreclosure activity data... Read more »

Record Low Chicago Home Inventory - A Real Challenge For Home Buyers

Record Low Chicago Home Inventory - A Real Challenge For Home Buyers
We just updated our periodic analysis of Chicago home inventory and market times and once again Chicago hit record lows – especially for this time of the year. It’s great news for home sellers but what’s good for sellers isn’t very good for home buyers, as anyone who is looking right now can tell you.... Read more »
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Villa Taj In Burr Ridge: From $25 Million To $3.1 Million

Villa Taj In Burr Ridge: From $25 Million To $3.1 Million
By Sari Levy A few years back, I wrote about Villa Taj, the 30,000 plus square foot monstrosity of a homelocated at Plainfield and County Line Road in the distinguished town of Burr Ridge. The museum looking homeonce listed for sale for a mere $25 million dollars. At that time, I speculated the property might... Read more »

December Chicago Home Sales: Another Double Digit Increase

December Chicago Home Sales: Another Double Digit Increase
December marked the 18th month in a row that Chicago home sales rose over the previous year and it was the 10th month of double digit increases. The number came in 17.1% higher than last year. However, when the Illinois Association of Realtors publishes their numbers in about 2 weeks they are going to report... Read more »

Movie Producer George Furla Selling Chicago Penthouse For $7 Million

Movie Producer George Furla Selling Chicago Penthouse For $7 Million
The Fordham at 25 E Superior seems to have it’s share of high rollers buying and selling condos these days. In July an 8100 square foot penthouse on the 47th floor sold for $6.4 MM – the third most expensive condo sale in Chicago in the last 12 months. Now a spectacular 50th floor penthouse... Read more »
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Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal
Best I can tell the Mortgage Forgiveness Debt Relief Act, which prevents underwater homeowners from having to pay income tax on the phantom income generated when their mortgage lender forgives a portion of their mortgage, was extended as part of the fiscal cliff deal that was approved by the house of representatives last night. Originally,... 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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