Archive for April 2019

Understanding Chicago TIFs

Understanding Chicago TIFs
TIFs (Tax Increment Financing) have received a ton of coverage in the news recently because of the recent debates about two of Chicago’s largest ever planned real estate development projects: Lincoln Yards and The 78. These two developments will benefit from up to $2.4 B in TIF money, which has been one of the more... Read more »

Defying Logic, Real Estate Commissions Rise

Defying Logic, Real Estate Commissions Rise
RealTrends is a residential real estate brokerage industry publishing and consulting company that analyzes various industry trends. Not quite a year ago they ran an article on the impact of inventory, brokerage models, and referral fees on real estate commissions. One of their more compelling arguments was their claim that lower listing inventory resulted in... Read more »

The Strange Patterns In University Village Condo And Townhome Prices

The Strange Patterns In University Village Condo And Townhome Prices
It’s been a couple of years since I have reviewed University Village* condo and townhome prices. Over the last year or so I’ve been monitoring the sales flow there and I’ve been intrigued by how much of the available inventory has been overpriced and consequently has languished on the market. Occasionally I’ll see a transaction... Read more »
Advertisement:

Chicago Foreclosure Activity Drops 35% From Last Year

Chicago Foreclosure Activity Drops 35% From Last Year
ATTOM Data Solutions, parent company of RealtyTrac, released their Q1 2019 U.S. Foreclosure Market Report this morning. For the nation as a whole foreclosure activity was down 15% from a year ago to the lowest level since the first quarter of 2008. According to Todd Teta, chief product officer at ATTOM Data Solutions: While some... Read more »

Chicago Real Estate Market Update: Another 5 Year Low In Home Sales

Chicago Real Estate Market Update: Another 5 Year Low In Home Sales
Well, it looks like March was the 5th month in a row that the Chicago real estate market had declining home sales – down a whopping 11.6% from last March. In fact, that was the lowest home sales in 5 years and I should point out that that also means that 11 out of the... Read more »

Lawyers & Realtors Are Screwing Up Cook County Property Tax Prorations

Lawyers & Realtors Are Screwing Up Cook County Property Tax Prorations
Because Cook County property taxes are paid in arrears a home seller always owes back property taxes at closing which need to be paid. The home buyer certainly doesn’t want to pay them. However, the actual amount owed is unknown at that time. Therefore, the buyer and the seller have to agree upon some sort... Read more »
Advertisement:

How Home Buyers And Sellers Can Navigate The Cooperating Commission

How Home Buyers And Sellers Can Navigate The Cooperating Commission
On Thursday I explained how cooperating commissions work, who pays them, and what impact it has on real estate transactions. What I put off until today was the various options that home buyers and sellers have in lowering the cost of these commissions – although I did mention how home sellers could take advantage of... Read more »