Archive for February 2019

Real Estate Tax Reform Hacks: Renting, Buying, And Investing

Real Estate Tax Reform Hacks: Renting, Buying, And Investing
Last week I posted on how the new tax reform law has increased the attractiveness of renting a home vs. buying a home because of the increase in the standard deduction and the $10,000 limit on the deductibility of state and local taxes. As I pointed out in a November 2017 post the real problem... Read more »

Case Shiller: Chicago Area Home Price Gains Advance To 3rd From Bottom

Case Shiller: Chicago Area Home Price Gains Advance To 3rd From Bottom
This morning’s release of Dow Jones S&P CoreLogic’s Case Shiller home price indices for December show the nation’s home price appreciation slowing down further. The Chicago area’s gains also slowed slightly but since the nation slowed down much more it’s giving us an opportunity to catch up – relatively speaking. We have now advanced to... Read more »

Renting A Home Suddenly Looks Better Under Tax Reform

Renting A Home Suddenly Looks Better Under Tax Reform
As people are working on their tax returns I suspect the reality of the new Tax Cuts and Jobs Act is starting to kick in – and I’m not talking about the withholding/ refund drivel that the media is obsessed with. The bigger issue is the $10,000 SALT (state and local tax) deduction limitation that... Read more »
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Chicago Foreclosure Activity Drifted Up In January

Chicago Foreclosure Activity Drifted Up In January
ATTOM Data Solutions updated their foreclosure data on the RealtyTrac Web site last week and released a short report on national foreclosure activity for January. Despite an 8% increase in national activity over December there was a 19% decline from last year. Chicago foreclosure activity pretty much followed the same pattern with a 6% increase... Read more »

The Real Estate DANGER Report: Agent Competency

The Real Estate DANGER Report: Agent Competency
Several years ago (I think it was around 2014) the National Association of Realtors commissioned Stefan Swanepoel, a real estate industry consultant, to conduct a study of the chief threats facing the real estate industry. He and his colleagues surveyed close to 8000 real estate agents, interviewed 74 senior industry executives, and studied over 6000... Read more »

$75 MM Investment In REX Homes Makes No Sense

$75 MM Investment In REX Homes Makes No Sense
A few weeks ago REX Homes, another real estate startup with a unique business model, raised an additional $45 MM in a third round of financing, bringing their total to $75 MM since they were founded in 2015. God knows the real estate industry is in sore need of new business models. Home buyers and... Read more »
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Chicago Real Estate Market Update: January Home Sales Hit 4 Year Low

Chicago Real Estate Market Update: January Home Sales Hit 4 Year Low
It looks like January was another weak month for home sales in the Chicago real estate market – down 7.1% from last year. Check out the graph below for the historical perspective. All Januaries are flagged with red markers and the light blue line is a 12 month moving average. January came in lower than... Read more »

How Dual Agency Affects Commissions And Rebates

How Dual Agency Affects Commissions And Rebates
Last week I wrote about how some researchers had measured the cost of dual agency transactions. They were able to determine that home sellers lost roughly 1.4% of the purchase price even when dual agency was disclosed. However, there are also some additional impacts on the home buyer and the seller and it all has... Read more »