Archive for January 2018

Case Shiller: Chicago Area Home Prices Still Lag Rest Of Nation

Case Shiller: Chicago Area Home Prices Still Lag Rest Of Nation
Dow Jones S&P CoreLogic released the November Case Shiller home price indices this morning and the nation’s home prices are doing really well – especially out west. Home prices rose by 6.2% over last year while the top 20 metro areas averaged gains of 6.4%. But Chicago area home prices…meh. As the graph below shows,... Read more »

Chicago's Most Expensive Home Sales Of 2017: Condos

Chicago's Most Expensive Home Sales Of 2017: Condos
As a follow up to Tuesday’s post on Chicago’s most expensive single family home sales of 2017 I’m looking at the most expensive condo sales today. In both 2015 and 2016 the most expensive condos actually sold at higher prices than the most expensive single family homes. Technically that’s still true for 2017 thanks to... Read more »

Chicago's Most Expensive Home Sales Of 2017: Single Family Homes

Chicago's Most Expensive Home Sales Of 2017: Single Family Homes
At the beginning of each year I look back at Chicago’s most expensive home sales from the previous year to provide a sense of the high end housing market, starting with the sale of single family homes. Somewhat surprisingly, despite a booming economy and stock market, it doesn’t look like the high end was really... Read more »
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US And Chicago Foreclosure Activity Continues To Plummet

US And Chicago Foreclosure Activity Continues To Plummet
Somehow I missed doing an update on Chicago foreclosure activity in December but the story has been pretty repetitive anyway – so much so that Attom Data Solutions (the parent of RealtyTrac) now only releases their US Foreclosure Market Report once every quarter. Their year end report, released today, contains the graph below, which shows... Read more »

More Chicago Property Tax Anomalies

More Chicago Property Tax Anomalies
A couple of weeks ago I published a guest post on How Property Tax Misconceptions Can Be Costing You Thousands Every Year. In that post there was a passing statement about how the Cook County Assessor uses “ratio studies” to reassess properties. That statement, along with some other points in the article, caught my eye... Read more »

Citadel's Ken Griffin Buys Most Expensive Chicago Area Home Ever

Citadel's Ken Griffin Buys Most Expensive Chicago Area Home Ever
I was clearly born too early. 15 – 20 years later and I could have gone into the hedge fund business with my physics and math background and my interest in the financial markets. Then maybe today I would be plopping down $58.75 MM for the top 4 floors of 9 W Walton like Ken... Read more »
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Procuring Cause: How You Can Get Stuck With A Real Estate Agent

Procuring Cause: How You Can Get Stuck With A Real Estate Agent
The notion of procuring cause may seem like an arcane realtor concept that home buyers and sellers don’t need to worry about. The concept was defined as a way for Realtors to stake their claim on the all-valuable client. However, it turns out that consumers can actually get burned by it if they don’t understand... Read more »

Chicago Real Estate Market: December Strongest Growth In 9 Months

Chicago Real Estate Market: December Strongest Growth In 9 Months
December home sales in Chicago came in 3.9% higher than last year. That’s the highest year over year growth posted for the Chicago real estate market in 9 months and sales were higher than 8 of the previous 10 years. 2013 (likely helped by some dumb government incentive program) and 2015 were stronger. You can... Read more »

Perception Of Real Estate Agent Integrity Improving But Still Low

Perception Of Real Estate Agent Integrity Improving But Still Low
If you are looking to buy or sell a home, which is easily a $200,000 or higher transaction, you would think that the integrity of who is helping you through the process would be of paramount concern. In fact, according to the National Association Of Realtors’ 2016 Profile Of Home Buyers And Sellers, 21% of... Read more »
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How Property Tax Misconceptions Could Be Costing You Thousands Every Year (And What to Do about It)

How Property Tax Misconceptions Could Be Costing You Thousands Every Year (And What to Do about It)
This is a guest post written by Chad Rothrock, Director of Operations at Kensington Research & Recovery, which consults with homeowners and businesses on appealing their property tax assessments to reduce future property tax payments. For Cook County homeowners, property tax news is almost never good news: taxes are going up. The system is rigged... Read more »