Archive for March 2015

Case Shiller: Chicago Home Prices Back On The Rise

Case Shiller: Chicago Home Prices Back On The Rise
S&P Dow Jones Indices released the January Case Shiller home price index this morning, including numbers for Chicago and 19 other metro areas. The Case Shiller Chicago numbers show that home prices are rising once again after a rather sluggish 2014 that resulted in a meager 1.4% gain for single family homes and a 1.1%... Read more »

Crazy Real Estate Model: Selling Your Home With No Listing Commission

Crazy Real Estate Model: Selling Your Home With No Listing Commission
There is sort of a new real estate brokerage model out there for selling your home – if you live in Philadelphia. The concept is that you can market your home for sale with a full service brokerage without having to pay any listing side commission (but you still have to pay a commission to... Read more »

RealtyTrac Market Report: Chicago Foreclosure Activity Must Be Bottoming Out

RealtyTrac Market Report: Chicago Foreclosure Activity Must Be Bottoming Out
RealtyTrac was much later this month in releasing their Foreclosure Market Report for February – it didn’t come out until Friday. While Chicago’s foreclosure activity hit a new low since I’ve been tracking the data it certainly seems like it’s bottoming out. Just take a look at the graph below. The real long term decline... Read more »
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Expensive Chicago Condos: Check Out This Amazing Penthouse At 415 E North Water St.

Expensive Chicago Condos: Check Out This Amazing Penthouse At 415 E North Water St.
Yesterday one of the most expensive Chicago condos in recent history hit the market in Streeterville. It’s a 9300 square foot duplex penthouse unit at 415 E North Water St. on the 32nd and 33rd floors listed at $12.95 MM. Check out the slideshow at the bottom to see just how cool this penthouse is.... Read more »

Downtown Chicago Condo Prices: Pinnacle Sales History Shows The Rebound

Downtown Chicago Condo Prices: Pinnacle Sales History Shows The Rebound
Back in September Crain’s ran a story about how downtown Chicago condo prices had returned to peak levels. Their conclusion was based upon data from a pretty reliable source: Appraisal Research Counselors, who looked at more than 65 different condo buildings in downtown Chicago. ARC pointed out that within 65 buildings prices per square foot... Read more »

Illinois HB 1376: $500 Sewer Camera Inspections To Be Required On All Home Sales

Illinois HB 1376: $500 Sewer Camera Inspections To Be Required On All Home Sales
How would you like to spend another $500 when you sell your home? In addition to thousands of dollars of closing costs you are already responsible for. Well, Illinois HB 1376, also known as the plumber full employment act and introduced by Rep. Luis Arroyo of the 3rd district, will cost you an additional $500... Read more »
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Chicago Real Estate Market Update: Finally An Uptick In Home Sales

Chicago Real Estate Market Update: Finally An Uptick In Home Sales
After 7 straight months of year over year declines in home sales the Chicago real estate market finally ticked up in February with a 6.0% increase over last year. Out of the last 19 years only 6 of the biggest bubble years hit a higher sales figure. Not too bad all in all. Now you... Read more »

What Will The Next Housing Crisis Look Like?

What Will The Next Housing Crisis Look Like?
On Monday I published a guest post on how mortgage lending standards have come full circle since the original housing crisis. In an effort to promote the American dream of home ownership regulators have once again eased up on the requirements for getting a mortgage. Meanwhile, it looks like Fannie Mae and Freddie Mac as... Read more »

Chicago Crime Rate: There Really Has Been A Dramatic Decline

Chicago Crime Rate: There Really Has Been A Dramatic Decline
Every so often I like to take a look at crime statistics since home buyers often are very concerned about the Chicago crime rate in deciding where to live – Chicago vs. the suburbs and one neighborhood vs. another. There is a Chicago crime data portal that anyone can use to take a look at... Read more »
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Mortgage 360: Lending Standards Come Full Circle

Mortgage 360: Lending Standards Come Full Circle
The following guest post was written by Jackson Cooper of Jensen & Company. The Mortgage Bankers Association expects total mortgage originations to total $1.19 trillion in 2015, an increase of 7 percent from last year. Originations have increased every quarter since Q2 2014 after four consecutive quarters of steep declines. The National Association of Realtors... Read more »