Archive for May 2018

Chicago's Shifting Population

Chicago's Shifting Population
You’ve probably heard about how Chicago has been losing population over the past few years. It’s not a huge amount. Just a few thousand per year. But clearly Chicago’s population is moving in a different direction than the rest of the country, with people leaving for greener pastures. Of course, that’s what people should do... Read more »

Case Shiller: Chicago Area Dead Last In Home Price Appreciation

Case Shiller: Chicago Area Dead Last In Home Price Appreciation
The March Case Shiller home price index just came out from Dow Jones S&P CoreLogic and, while it’s still great news for the nation’s home prices, it’s kind of sad for the Chicago area. Compared to last year the nation’s single family home prices rose 6.5% while the 20 metro area composite rose 6.8% with... Read more »

Real Estate Experts Raise Their Home Price Forecast Yet Again

Real Estate Experts Raise Their Home Price Forecast Yet Again
Every quarter Zillow and Pulsenomics collaborate to survey a little over 100 real estate experts to establish a home price forecast for the nation. A couple of days ago they released their 2nd Quarter Home Price Expectations Survey which shows further improvement in their outlook for the real estate market. They’ve been raising their forecast... Read more »
Advertisement:

Don't Panic Over Higher Cook County Property Tax Assessed Values

Don't Panic Over Higher Cook County Property Tax Assessed Values
Homeowners throughout Chicago are starting to get a nasty surprise in their mailboxes – significantly higher property tax assessments. What I am referring to here is not the property tax bill itself but the notice of their new Cook County assessed property value which will be used to determine their property tax bill for 2018.... Read more »

Chicago Homes In Foreclosure Plunged In April

Chicago Homes In Foreclosure Plunged In April
ATTOM Data Solutions updated their foreclosure activity data yesterday and issued a brief press release. For the nation as a whole April foreclosure activity was down on a year over year basis for the 31st consecutive month. The data for Chicago, which I’ve plotted below back to March 2009, shows that Chicago foreclosure activity in... Read more »

After 2270 Days Michael Jordan's House Is Still On The Market

After 2270 Days Michael Jordan's House Is Still On The Market
It’s been more than 6 years since I first wrote about Michael Jordan’s house being on the market. I wrote that post (check it out because it has a slideshow with the original 29 photos) on the day the listing went live and on that day it came out of the gate at $29 MM.... Read more »
Advertisement:

More Reasons Why Real Estate Commissions Are So High

More Reasons Why Real Estate Commissions Are So High
I’ve written on numerous occasions about why real estate commissions are so high, covering a wide range of reasons like wasted time, the cost of friendships, and lead acquisition cost – none of which have anything at all to do with the value of the service provided. Recently I ran across a special report from... Read more »

Chicago Real Estate Market: Strongest April Sales In 11 Years

Chicago Real Estate Market: Strongest April Sales In 11 Years
You’re not going to see that headline about the Chicago real estate market anywhere else this month. If you will recall, last month I wrote about how Chicago had really weak home sales for March compared to the previous year. However, I also pointed out that, with the exception of that previous March, this March... Read more »

Don't Put Too Much Faith In That Real Estate Appraisal

Don't Put Too Much Faith In That Real Estate Appraisal
3 1/2 years ago I wrote a blog post about some of our worst experiences with real estate appraisals and some of the systematic problems with that entire process. Needless to say that post was not well received by many real estate appraisers out there. Not surprisingly, they wouldn’t really admit to any problems in... Read more »
Advertisement:

Where The Foreclosures Are Still Happening In Chicago

Where The Foreclosures Are Still Happening In Chicago
Once a month I do a quick review of Chicago’s foreclosure activity and the overall trend has been very encouraging, with roughly 1/4 – 1/3 of the homes in foreclosure compared to the peak of the housing crisis. However, I recently started paying closer attention to what was going on at a more granular level... Read more »