Archive for July 2020

Chicago Murder Map And Neighborhood Totals - 2020 Update

Chicago Murder Map And Neighborhood Totals - 2020 Update
You’ve probably heard that Chicago’s murder rate is on the rise. So I decided to check just how bad it is relative to the past. Going back to January 2001 (the earliest data I have access to) it’s clear that May and June of this year are outliers. June had 92 murders, which is getting... Read more »

Case Shiller: Chicago Area Home Prices Look Less Bad When Rest Of Nation Slows Down

Case Shiller: Chicago Area Home Prices Look Less Bad When Rest Of Nation Slows Down
The Case Shiller Chicago area single family home price index has been trailing the rest of the country for quite some time now but this morning S&P Dow Jones released the CoreLogic Case-Shiller home price indices for May and Chicago looks less bad. Not because home prices are growing any faster here but because the... Read more »

Before Buying A Lot In Chicago You May Want To Test The Soil

Before Buying A Lot In Chicago You May Want To Test The Soil
This doesn’t come up very often because it’s kinda weird and relatively rare. You find a lot with an old building on it in a nice neighborhood and you’d like to build your dream house there. It should be as simple as buying the property, tearing down the old building, and building a new one.... Read more »
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June Is Third Month With Suppressed Chicago Foreclosure Activity Due To Pandemic

June Is Third Month With Suppressed Chicago Foreclosure Activity Due To Pandemic
When the coronavirus first took the country by storm and people started staying home – in many cases without pay – the federal agencies that support the mortgage market imposed a moratorium on foreclosures. The initial moratorium was going to expire at the end of June but it was extended to the end of August.... Read more »

2019 Cook County And Chicago Property Tax Rates Explained

2019 Cook County And Chicago Property Tax Rates Explained
In late June Cook County released their 2019 property tax rates that are used to determine tax bills. By now you’ve probably already seen your own property tax bill if you live in Cook County. Nevertheless, each year at this time I like to distill the tax rate report that I just linked to down... Read more »

The 2020 Chicago Real Estate Market May Just Be Running Later Than Normal

The 2020 Chicago Real Estate Market May Just Be Running Later Than Normal
On Tuesday I posted my usual monthly Chicago real estate market update which showed just how hard June home sales were hit by the Covid-19 pandemic – down 27.4% from last year. But take a close look at the second graph in that update which shows contract activity, a leading indicator of home sales. It’s... Read more »
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June Chicago Real Estate Market: Home Sales Still Suffering From Covid-19

June Chicago Real Estate Market: Home Sales Still Suffering From Covid-19
The good news is that the Chicago real estate market is getting less bad as people learn to just live with Covid-19 all around us. Last month I pointed out that, with significantly better contract activity, we would see improved closings in June. Well, we did, but not as dramatically as I had hoped. June... Read more »

All Brick Homes Are Not Created Equal - Solid Masonry Vs. Brick Veneer

All Brick Homes Are Not Created Equal - Solid Masonry Vs. Brick Veneer
The vast majority of Chicago homebuyers don’t know that there are really two different types of brick homes. They see brick and…well…they think the home is made out of brick. It’s a little more complicated than that actually. There is brick veneer and then there’s solid masonry and you can’t typically tell the difference between... Read more »