Archive for January 2016

Case Shiller: Chicago Home Price Growth Slower Than Other Cities

Case Shiller: Chicago Home Price Growth Slower Than Other Cities
In this morning’s release of the Case Shiller Chicago home price index for November there is some good news: home prices in the area are still advancing – we’ve had just over 3 years of steady price gains over the previous year. And the pace of gains has been rising lately. But the bad news... Read more »

Real Estate Negotiation Myths And Reality - When Selling A Home

Real Estate Negotiation Myths And Reality - When Selling A Home
It turns out that you can understand a lot about what happens in the real estate industry by just trying to answer one simple question: Why are real estate commissions so high? And the mythology around the real estate negotiation process is a perfect example because one of realtors’ chief value propositions is that with... Read more »

Chicago's Most Expensive Home Sales Of 2015: Condos and Co-ops

Chicago's Most Expensive Home Sales Of 2015: Condos and Co-ops
Last week I posted on Chicago’s most expensive single family home sales in 2015. However, the most expensive home in that post, which sold for $13.3 MM and change, was not the most expensive home sale last year. That honor actually went to a condo allegedly purchased by George Lucas back in April for $18.75... Read more »
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RealtyTrac Market Report: Chicago Foreclosure Activity Has Really Bottomed

RealtyTrac Market Report: Chicago Foreclosure Activity Has Really Bottomed
I’m really running out of ways of saying that Chicago foreclosure activity has bottomed out. The graph below has been updated based upon this morning’s release of the RealtyTrac Foreclosure Market Report for December and, as you can see, the data has been bouncing around at the same level for several months now. The good... Read more »

Chicago's Most Expensive Home Sales Of 2015: Single Family Homes

Chicago's Most Expensive Home Sales Of 2015: Single Family Homes
Chicago has a sizable population of wealthy people, given its strong position as a business hub – in particular financial firms. And these folks live in some truly incredible homes that provide us regular folks with plenty of vicarious entertainment value as they are bought and sold in the city. So let’s take a look... Read more »

Chicago Real Estate Market Update: December Treaded Water

Chicago Real Estate Market Update: December Treaded Water
In a nutshell the Chicago real estate market just treaded water in the last 3 months of 2015 but I think it’s pretty clearly a result of very little inventory on the market as I’ll get into below. December came in with a mere 1.8% gain in sales over 2014 but when the Illinois Association... Read more »
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The Realtor Who Called Me About The Future Of The Real Estate Agent

The Realtor Who Called Me About The Future Of The Real Estate Agent
Last week I posted on what the future of the real estate agent looks like. In a nutshell: lower commissions, as it should be. Well, apparently one Portland realtor didn’t like my vision of the future because he called and left me a message letting me know what he thought of my post. I wish... Read more »