Archive for November 2020

Chicago Neighborhoods With The Highest Home Price Gains In 2020

Chicago Neighborhoods With The Highest Home Price Gains In 2020
On Tuesday I posted the monthly update of the Case Shiller home price index from S&P Dow Jones CoreLogic which showed a dramatic rise in Chicago area home prices during the last year. Unfortunately, that index only tells us how home prices are doing across the entire metro area when, in reality, home prices could... Read more »

Case Shiller: Chicago Area Home Prices Highest Gains In 3 1/2 Years

Case Shiller: Chicago Area Home Prices Highest Gains In 3 1/2 Years
Well, finally, what everyone has been talking about has been confirmed in the data so now it’s real. According to this morning’s release of the September Case Shiller home price indices for single family homes prices across the nation soared by 7% in the last year. That’s the strongest gain in more than 6 years.... Read more »

That Cook County Covid Adjusted Property Tax Value Won't Save You Much

That Cook County Covid Adjusted Property Tax Value Won't Save You Much
Maybe a week or so ago I received a notice in the mail from the Cook County Assessor’s office explaining that they had lowered my home’s assessed tax value in light of the Coronavirus pandemic. I got about a 9% reduction. My first question was “Why are they doing this?” because I’ve seen no evidence... Read more »
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Chicago Foreclosure Activity Stalled While We Wait For Dam To Break

Chicago Foreclosure Activity Stalled While We Wait For Dam To Break
The latest Foreclosure Market Report for October from ATTOM Data Solutions showed a 20% increase in US foreclosure activity from September. However, that number is still 79% below last year’s level because foreclosure activity continues to be severely depressed by the government imposed moratorium on foreclosures to mitigate the problems caused by Covid-19. Rick Sharga,... Read more »

Another Seller Loses Their Ass On $25 MM Villa Taj In Burr Ridge

Another Seller Loses Their Ass On $25 MM Villa Taj In Burr Ridge
It’s been just over 11 years since we first wrote about the 30,000 square foot Burr Ridge monstrosity known as Villa Taj. At that time it was listed for sale for $25 MM and, supposedly, the seller was into it for $18 MM. Over the years we’ve written about it several times as the home... Read more »

Chicago Real Estate Market Update: October Another 14 Year High

Chicago Real Estate Market Update: October Another 14 Year High
As we all know the Chicago real estate market took a big hit for a few months due to the pandemic but it’s coming back strong. October was another blowout month – not quite as good as September’s 31.6% jump from last year though. Nevertheless, a 22.6% gain is pretty darn good and there’s probably... Read more »
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Chicago Real Estate Market: How Long It Takes To Sell A Home In 2020

Chicago Real Estate Market: How Long It Takes To Sell A Home In 2020
Every year I like to take a look at how fast homes are selling in Chicago’s real estate market at a more detailed level. Yeah, my monthly updates (I’m posting one on Monday) look at the average market times and sometimes I look at the medians also. This year the medians are down pretty substantially... Read more »

How Realtors Make Home Ownership Look Like A Wealth Builder

How Realtors Make Home Ownership Look Like A Wealth Builder
From time to time “economists” from the National Association of Realtors publish propaganda pieces on how great real estate is. For example, just last week they published an article on how “homeownership presents a great pathway to build wealth“. If you ever need an example of how to lie with statistics this serves as a... Read more »