Archive for March 2019

The Truth About Coop/ Buy-side Real Estate Commissions

The Truth About Coop/ Buy-side Real Estate Commissions
A couple of weeks ago I wrote about those allegations of conspiracy and collusion. No, not Russian interference in our election. I’m talking about that class action lawsuit regarding alleged price fixing with regard to real estate commissions. It centers around cooperating (buy side) commissions – why they are needed and how they are priced.... Read more »

Case Shiller: Chicago Area Home Price Gains Slowest In A Year

Case Shiller: Chicago Area Home Price Gains Slowest In A Year
The folks at Dow Jones S&P CoreLogic released their much awaited January Case Shiller home price index for the nation and the Chicago area (along with 19 other metro areas) this morning. The big headline making the rounds today is that for the nation as a whole year over year home price gain of 4.3%... Read more »

Chicago Foreclosure Starts Hit 22 Month High In February

Chicago Foreclosure Starts Hit 22 Month High In February
I just picked up the latest foreclosure data from ATTOM Data Solutions’ RealtyTrac Web site and updated my graph below. Once again they only released a short commentary on the state of US foreclosures and they note that Illinois gets bragging rights on being the state with the 5th highest foreclosure rate. I’m sure that’s... Read more »
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Real Estate Experts More Optimistic About Home Prices Except For Chicago Area

Real Estate Experts More Optimistic About Home Prices Except For Chicago Area
Zillow and Pulsenomics recently came out with their first quarter home price expectations survey of more than 100 real estate experts. The graph below provides their updated view (the orange line) from December, dropping 2018 appreciation from the time horizon and just focusing on the next 5 years, including 2019. If you go back to... Read more »

Home Sellers File Real Estate Commission Class Action Lawsuit

Home Sellers File Real Estate Commission Class Action Lawsuit
Wow! On some level I’m really enjoying this. I’ve always maintained that real estate commissions are just too damn high. So imagine my amusement when a class action lawsuit is filed, claiming that 4 of the nation’s largest franchised brokerages conspired with the National Association of Realtors to fix real estate commissions in 25 cities.... Read more »

It's Not A Realtor Conspiracy Keeping Real Estate Commissions High

It's Not A Realtor Conspiracy Keeping Real Estate Commissions High
Last week an editorial appeared in the Wall Street Journal: When You Buy or Sell a Home, Realty Bites. The article was written by the guys at REX, an early stage company that helps sellers sell their homes off the MLS without paying a cooperating commission which I wrote about last month: $75 MM Investment... Read more »
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Chicago Real Estate Market Update: 5 Year Low In Home Sales

Chicago Real Estate Market Update: 5 Year Low In Home Sales
February was the 4th month in a row that the Chicago real estate market had lower home sales than the previous year. In fact, if not for October home sales being just a smidgen higher than 2017, February would have been the 7th month in a row of lower sales. The February decline was 4.6%... Read more »

Tax Reform Hacks For Real Estate A Bit More Complicated

Tax Reform Hacks For Real Estate A Bit More Complicated
On Thursday I posted some ideas on how to retain the benefits of the mortgage interest and property tax deductions under the new tax law. But I think I oversimplified it a bit so I wanted to backtrack for a few minutes. Let me clarify a few things. First, I want to make sure that... Read more »

No. The Chicago Real Estate Market Did Not Crater In January.

No. The Chicago Real Estate Market Did Not Crater In January.
If you will recall on February 7 I posted my monthly update for the Chicago real estate market. At that time I reported that home sales were down by 7.1% from last year and that the Illinois Association of Realtors would report a 9.1% decline. Well, it turns out the IAR actually reported a 19.4%... Read more »
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