Archive for December 2016

How To Get A Great Deal When Buying A New Car

How To Get A Great Deal When Buying A New Car
Although this post has nothing to do with real estate it’s still about saving money – one of my favorite past times. Most people dread buying a new car. I love it because I get to see just what kind of a deal I can get. As you know, I hate to see people overpay... Read more »

Case Shiller: Chicago Home Prices Continue To Lag Nation

Case Shiller: Chicago Home Prices Continue To Lag Nation
This morning’s release of the S&P CoreLogic October Case Shiller home price index shows the nation’s single family home prices hitting a new high and advancing 5.6% from last year. However, the picture for the Case Shiller Chicago home price index was not quite as rosy. The increase in area single family home prices from... Read more »

November Chicago Foreclosure Activity Approaches New Low

November Chicago Foreclosure Activity Approaches New Low
Once again it looks like RealtyTrac has bigger fish to fry than put out their normal, monthly Foreclosure Market Report. I suspect that the monthly story is getting rather repetitious for them also but it is worthwhile keeping an eye on this part of the real estate market and since they still updated their data... Read more »
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Disappointing Outlook For Home Prices

Disappointing Outlook For Home Prices
Shortly after I published my last post on the Zillow-Pulsenomics 4th Quarter National Home Price Expectations Survey I received some additional information from them which I found interesting. First, they note that we are currently in a seller’s market with low inventory and the average home search taking 4.2 months. However, their panel of real... Read more »

Home Price Forecast: Experts Reign In Expectations

Home Price Forecast: Experts Reign In Expectations
Last week Zillow, in conjunction with Pulsenomics, released the results of their 4th quarter National Home Price Expectations Survey of 111 real estate experts. After a more optimistic outlook last quarter the experts reigned it in this quarter and also extended their outlook into 2021. The details of their forecast are captured in the graph... Read more »

Most Expensive Chicago Home To Ever Hit Market: 1932 N Burling - $50MM

Most Expensive Chicago Home To Ever Hit Market: 1932 N Burling - $50MM
Yesterday the most expensive Chicago home ever hit the market priced at $50,000,000. (I purposely didn’t use pricing short hand so that you could fully appreciate the magnitude of that price.) The 25,000 square foot home, which spans seven 149 foot deep lots at 1932 N Burling, belongs to Richard Parrillo who is the Chairman... Read more »
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Chicago Real Estate Market Update: Highest November Sales In 7 Years But...

Chicago Real Estate Market Update: Highest November Sales In 7 Years But...
This is getting ridiculous. My headline for last month’s update on the Chicago real estate market was Lowest October Sales In 5 Years and now look at this month’s headline. I think it’s pretty clear that home sales jump around quite a bit from month to month and, as I pointed out last month, you... Read more »

Chicago Home Prices Lag Nation By More Than 25%

Chicago Home Prices Lag Nation By More Than 25%
As you know I closely follow the Case Shiller data on Chicago area home prices but when the September release pointed out that the nation’s home prices just hit a new record high, and the Chicago area is far from that, I realized that I have never actually compared the national index to the Chicago... Read more »

Why Rising Mortgage Rates Shouldn't Crash Chicago Real Estate

Why Rising Mortgage Rates Shouldn't Crash Chicago Real Estate
A couple of weeks ago I posted on how rapidly mortgage rates have risen since the election. Given the Federal Reserve’s policy direction, this trend is likely to continue. So the obvious question is will higher mortgage rates lead to a crash in the Chicago real estate market? After all, rising mortgage rates result in... Read more »
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