Archive for June 2016

Top 6 Realtor Review Web Sites To Use To Find A Realtor

Top 6 Realtor Review Web Sites To Use To Find A Realtor
It’s a well known fact that when home buyers and sellers are looking for a real estate agent they often turn to friends and family members for recommendations. Quite often they get one recommendation from one acquaintance and they’re good to go. But why on earth would you make a decision like this based upon... Read more »

Case Shiller: Chicago Area Home Prices Pulling Away From Bottom Of Pack

Case Shiller: Chicago Area Home Prices Pulling Away From Bottom Of Pack
This morning’s release of the April S&P/ Case Shiller home price indices finally provides evidence that the Chicago area is gaining ground against several other major metropolitan areas. The Case Shiller Chicago index for single family homes posted a +3.1% year over year change, which was the highest level in 13 months. That gain pushed it... Read more »

2015 Cook County And Chicago Property Tax Preview

2015 Cook County And Chicago Property Tax Preview
Last week the Cook County Clerk’s office released the 2015 property tax rates for Chicago and the suburbs and it wasn’t nearly as bad as I was expecting. I thought I would be hit by both an increase in the assessed value of my home and an increase in the effective tax rate in order... Read more »
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RealtyTrac Market Report: Chicago Foreclosure Activity Has Basically Bottomed

RealtyTrac Market Report: Chicago Foreclosure Activity Has Basically Bottomed
I’m afraid that tracking Chicago foreclosure activity has gotten really boring. Last week RealtyTrac released their May foreclosure activity report and all it showed is the same pattern we’ve been seeing for several months now: no real change to speak of from the most recent months but down from last year. In fact, foreclosure activity... Read more »

Apparent False Advertising In Real Estate: Redfin Sells Homes For $4300 More Than Other Brokerages

Apparent False Advertising In Real Estate: Redfin Sells Homes For $4300 More Than Other Brokerages
I’ve previously posted on the preposterous claims of some real estate agents that they sell homes for more money than other real estate agents. Usually the claim is made without substantiation but a while back I did find at least one example of a Chicago area agent that actually laid out the deceptive math used... Read more »

Housing Bubble 2.0: Predatory Lending Is Back

Housing Bubble 2.0: Predatory Lending Is Back
The popular narrative about the financial crisis/ housing bubble is that predatory lending practices tricked unsuspecting consumers into buying homes they couldn’t afford, driving up home prices to unsustainable levels in the process. Then when home prices inevitably went down the lenders took homes away from these people, making billions of dollars in exorbitant profits... Read more »
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Chicago Real Estate Market Update: Another 9 Year High In Home Sales

Chicago Real Estate Market Update: Another 9 Year High In Home Sales
For the second month in a row the Chicago real estate market hit a 9 year high in home sales during May as you can see in the graph below, which goes back to 1997. On that graph all the May data points are flagged in red and I’ve also included a blue 12 month... Read more »

Craigslist Chicago Rental Scam Alert

Craigslist Chicago Rental Scam Alert
There seems to be an upsurge in Craigslist rental scams in Chicago over the last few weeks or maybe it’s just that they’ve recently started to suck me into them (suck, not suckered) for the first time. In 9 years in the real estate business in Chicago I’ve never gotten a single call about one... Read more »