Archive for November 2016

Case Shiller: Chicago Home Prices Post Largest Gain In 27 Months

Case Shiller: Chicago Home Prices Post Largest Gain In 27 Months
S&P CoreLogic released the September Case Shiller home price index this morning for the nation and 20 metro areas including the Chicago area. The Case Shiller Chicago home price index for single family homes in the area recorded the highest year over year gain in 27 months – up 4.3% from last September. As a... Read more »

Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer

Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer
Seriously. I kid you not. Free money. There is some lender out there giving home buyers up to $20,850 each! And you better believe that the government is almost certainly behind this. I was contacted by one of our mortgage bankers the other day with news of this incredible program and it is indeed for... Read more »

Mortgage Rates Have Spiked And It's Trump's Fault

Mortgage Rates Have Spiked And It's Trump's Fault
In case you haven’t already noticed, it looks like we can blame the election for something else now – a huge spike in mortgage rates. The last couple of weeks have been full of surprises. Not only did nobody (I don’t really think that’s a double negative) predict the outcome of the election but nobody... Read more »
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October Chicago Foreclosure Activity Spiked But That's OK

October Chicago Foreclosure Activity Spiked But That's OK
The RealtyTrac October Foreclosure Market Report came out last week, though I guess I should start calling it the Attom Data Solution report since they bought RealtyTrac a while ago and that’s how they are now branding the report. Their data for Chicago foreclosure activity shows a huge spike that occurred last month, entirely attributable... Read more »

Uncomfortable Conversations Are The Only Path To Unity

Uncomfortable Conversations Are The Only Path To Unity
I decided you could wait another couple of days for me to cover the latest foreclosure statistics because every so often I see something so stupid I feel compelled to post about it even though it has nothing to do with real estate. It turns out that today’s topic has been bugging me for quite... Read more »

Beware Of Top Producing Real Estate Agents Who Lie

Beware Of Top Producing Real Estate Agents Who Lie
I’ve actually written several blog posts in the past about how real estate agents use meaningless statistics and even false advertising to get your business. They do it because apparently people fall for it. It would appear that if you tell enough lies people will believe at least some of them and elect select you.... Read more »
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Chicago Real Estate Market Update: Lowest October Sales In 5 Years

Chicago Real Estate Market Update: Lowest October Sales In 5 Years
The Chicago real estate market has been flashing plenty of signs of weakness lately and October just came in with the second worst reading in 21 months – at least according to one key metric. Closings were down 6.1% from last year. You can look at my monthly sales graph below which goes back to... Read more »

Real Estate Myths & Lies: The Real Reason Brokerages Advertise

Real Estate Myths & Lies: The Real Reason Brokerages Advertise
You’ve seen the impressive real estate ads in the Chicago Tribune and in the Chicago Social/ Modern Luxury magazines showing numerouos homes for sale. The large brokerages will often take out full page ads. Sometimes the bottom of the ads will feature the photos of several real estate agents that hang their licenses (I love... Read more »

Why I Don't Believe In 3D Virtual Real Estate Tours

Why I Don't Believe In 3D Virtual Real Estate Tours
I always told my kids to beware of the latest fads. Still don’t know how much of that advice stuck but, with the latest real estate fad, I have taken my own advice and I’m dispensing it to our home sellers as well. That latest fad is the 3D virtual real estate tour that allows... Read more »
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