Archive for January 2014

Realtors A Gift From God? Seriously?

Realtors A Gift From God? Seriously?
Oh. My. God. My business partner sent me a link to this video the other day and thought I could have some fun with it. It appears to be a takeoff on a famous speech that Paul Harvey gave at a Future Farmers Of America convention in 1978: So God Made A Farmer, which was the... Read more »

Case Shiller: Chicago Home Prices Hit Another 25 Year Record For Growth

Case Shiller: Chicago Home Prices Hit Another 25 Year Record For Growth
Case Shiller’s release this morning of the November home price index for Chicago showed another record month relative to last year. Sure the index was down a bit from October but that is normal for this time of the year. What was more interesting was the fact that it didn’t decline as much as it... Read more »

Chicago Landlords: Think Twice About Taking That Security Deposit

Chicago Landlords: Think Twice About Taking That Security Deposit
A couple of weeks ago I posted on the Chicago Landlord-Tenant Rules and mentioned, among other problems, that the rules pertaining to the acceptance, management, and disbursement of security deposits were quite onerous and fraught with potential problems for real estate investors. Well, on Friday the Chicago Tribune published an article on this very issue... Read more »
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The Latest On Some Of Chicago's Famous Homes For Sale

The Latest On Some Of Chicago's Famous Homes For Sale
In the last week or so there have been several interesting developments with some of the more famous homes in the Chicago area. Oprah Winfrey put her duplex Water Tower condo on the market, the home made famous in the Ferris Bueller movie finally went under contract, and I finally saw a movie produced by... Read more »

Rising Home Prices Help University Village Home Sellers Recover Losses

Rising Home Prices Help University Village Home Sellers Recover Losses
Having lived in University Village for 10 years and doing a fair amount of business there I tend to keep a close eye on its real estate market. It’s been fascinating to watch the recovery in home prices there, as with most parts of the city, over the last year or so. But it’s one... Read more »

Chicago Foreclosure Problem Not Getting Any Better - For Now

Chicago Foreclosure Problem Not Getting Any Better - For Now
Yesterday RealtyTrac released their December And Year End Foreclosure Market Report which showed that in 2013 the nation had the lowest level of foreclosure activity in the last 6 years – about half of what it was at the peak in 2010. As you can see in the graph below foreclosure activity has been steadily... Read more »
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Chicago Real Estate Investing: Landlord-Tenant Rules

Chicago Real Estate Investing: Landlord-Tenant Rules
So you think you want to invest in real estate in Chicago – and by invest I mean buy income producing property and become a landlord. It sure seems like everyone in Chicago has visions of tenants dancing in their heads. However, before you go and put all your eggs in the real estate basket... Read more »

Realtors Try To Preserve Fannie And Freddie Mortgage Loan Limits

Realtors Try To Preserve Fannie And Freddie Mortgage Loan Limits
About a month ago I wrote a post about how the National Association of Realtors (NAR) throws around their considerable lobbying weight to preserve the various housing market subsidies bestowed by the government. I specifically wrote about the FHA loan limits and the Homeowner Flood Insurance Act. However, there is another issue lurking around out... Read more »

Chicago Real Estate Market Ekes Out Double Digit Sales Growth In December

Chicago Real Estate Market Ekes Out Double Digit Sales Growth In December
When the Illinois Association of Realtors reports on December home sales in about 2 weeks they are going to be talking about how great it was that home sales were up around 12.0%. And in reality growth was actually up 14.7% when you compare the December snapshots taken at the same point in time during... Read more »
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San Francisco's Google Bus Protests And The Affordable Housing Mythology

San Francisco's Google Bus Protests And The Affordable Housing Mythology
Earlier this week I posted on the growing tensions in the bay area caused by the rapid increase in housing costs that is displacing renters employed outside the tech industry. Some of the residents of San Francisco and Oakland who are concerned about the ever shrinking supply of affordable housing have been staging protests against... Read more »