Archive for November 2015

Oprah Dumps Her Water Tower Condo At 40% Discount

Oprah Dumps Her Water Tower Condo At 40% Discount
Not quite 2 years ago Oprah put her Water Tower Place condo at 180 E Pearson on the market for $7.75 MM. That was January 13, 2014 but by July 31 of that year she yanked the listing for this 9625 sq ft duplex. There never were any photos of the unit on the MLS... Read more »

Case Shiller: Chicago Home Price Gains Lowest Among 20 Metro Areas

Case Shiller: Chicago Home Price Gains Lowest Among 20 Metro Areas
For some time now Chicago has been bouncing around near the bottom of the 20 metro areas tracked by Case Shiller in terms of year over year single family home price gains. With this morning’s release of the September Case Shiller home price index we ended up dead last with only a 1.1% gain. The... Read more »

Where Chicago Home Prices Have Risen The Most

Where Chicago Home Prices Have Risen The Most
About a week ago I looked at where the Chicago housing market was still dead based upon where there was still a significant volume of distressed properties on the market. Since then the DePaul Institute for housing studies has come out with their second quarter Cook County house price index and they’ve broken down the... Read more »
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RealtyTrac Market Report: Chicago Foreclosures Lingering

RealtyTrac Market Report: Chicago Foreclosures Lingering
RealtyTrac released their October Foreclosure Market Report on Thursday and it’s a mixed bag. I certainly didn’t find the national data that interesting or enlightening. For Chicago the most interesting observation is that defaults, on a year over basis, have either been declining or rising by small single digit percentages in every month since I’ve... Read more »

Where The Chicago Real Estate Market Is Still Dead

Where The Chicago Real Estate Market Is Still Dead
Everyone knows that the Chicago real estate market has come roaring back. Prices are up, sales are up, and the mix of distressed property sales is way down. In particular, it’s the dramatic decline in sales of distressed properties that would lead you to believe that we have mostly recovered from the housing bubble meltdown.... Read more »

Chicago Real Estate Market Update: October Home Sales Disappoint

Chicago Real Estate Market Update: October Home Sales Disappoint
The Illinois Association of Realtors is scheduled to release their October real estate market report for Chicago and the rest of Illinois in two weeks and this will most likely be the first time in 9 months that they will report a decline in sales – down 0.8% from last year. In reality the number... Read more »
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Homeowner Wealth Accumulation: Don't Let The NAR Fool You With Data

Homeowner Wealth Accumulation: Don't Let The NAR Fool You With Data
The National Association of Realtors is at it again, trying to convince everyone that buying a home is the key to riches. Their economist, Lawrence Yun, wrote an article that appeared in the October 14 issue of Forbes Magazine in which he makes the case that homeownership allows homeowners to accumulate an additional $190,000 in... Read more »

What The Chicago Property Tax Increase Means For Your Real Estate Deal

What The Chicago Property Tax Increase Means For Your Real Estate Deal
2015 is a double witching year for Chicago property taxes. First you have the triennial (once every 3 years) property reassessment going on, which can have a significant impact on individual property taxes. Then you also have this whole $543 MM property tax increase that just got approved and that will possibly impact everyone’s property... Read more »