Urban Housing Costs Take Big Bite Out Of Income - But Not In Chicago Area

Urban Housing Costs Take Big Bite Out Of Income - But Not In Chicago Area
Between rising home prices, rising mortgage rates, and rising rents housing costs are on the rise and have just hit some of the highest levels in recent years. Last week Zillow released their Analysis Of Mortgage And Rent Affordability which showed that, nationally, mortgage payments are taking up the largest share of income since June... Read more »

Chicago Foreclosure Activity Levels Off Once Again

Chicago Foreclosure Activity Levels Off Once Again
Once again RealtyTrac has decided not to publish their monthly Foreclosure Market Report, though they did update the data on their site for January. Lately they are doing this more and more as they have many more interesting reports to issue and foreclosure activity is no longer the headline story that it used to be.... Read more »

Why Good Realtors Will Only Work With Buyers On An Exclusive Basis

Why Good Realtors Will Only Work With Buyers On An Exclusive Basis
This is one of those rare moments when I’m actually in agreement with the real estate industry zealots but I didn’t always see it this way. Before I became a realtor I felt like, as a home buyer, I should be able to work with multiple real estate agents and whoever found me the best... Read more »
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Home Price Forecast: Experts Grow More Optimistic

Home Price Forecast: Experts Grow More Optimistic
On Friday Zillow and Pulsenomics came out with their Q1 2017 Home Price Expectations survey which contains the consensus home price forecast for the nation of over 100 housing experts. Overall it’s a brighter outlook than their 4th quarter outlook which was actually dialed back a bit from their 3rd quarter outlook. In order to... Read more »

Hundreds Of Millions Pouring Into New Real Estate Business Models

Hundreds Of Millions Pouring Into New Real Estate Business Models
The smart money knows that the traditional real estate model is broken and dying. It was designed for a time when information about homes was hard to come by and everyone depended upon their local realtor who relied upon voluminous binders of listings. A dramatic change is long overdue. That’s why new real estate business... Read more »

Chicago Real Estate Market Update: Highest January Sales In 10 Years

Chicago Real Estate Market Update: Highest January Sales In 10 Years
Last month I pointed out that the Chicago real estate market keeps bouncing between multi-year lows and highs in home sales from one month to the next. It was the same story for January and since I used the yo-yo analogy last month I’m going with the roller coaster theme this month. January came in... Read more »
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Did this investor really make $225,000 flipping this Chicago condo?

Did this investor really make $225,000 flipping this Chicago condo?
I’m not exactly sure what actually creates the opportunity for flipping condos (profitably) but I’m seeing more and more examples of this lately. It’s probably due to a change in the tastes of home buyers, such that most of the available inventory is perceived as outdated, and an unwillingness (or inability) of home buyers to... Read more »

Case Shiller: Chicago Home Prices Falling Further Behind Nation

Case Shiller: Chicago Home Prices Falling Further Behind Nation
You would think that with the Chicago area’s low home inventory that our home prices would be taking off. They are advancing but not nearly as fast as the rest of the nation and we are in fact falling further and further behind the rest of the country. S&P CoreLogic just released their November Case... Read more »

Bronzeville Finally Getting The Real Estate Development It Needs

Bronzeville Finally Getting The Real Estate Development It Needs
For years I found it peculiar that Bronzeville didn’t get more attention from real estate developers given how close it is to downtown Chicago and how relatively affordable it is. I know that during the real estate bubble a lot of people got badly burned in Bronzeville – both developers and buyers – so I... Read more »
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Why America Will Never Be Great Again In Two Charts

Why America Will Never Be Great Again In Two Charts
This idea about why America won’t be great again has been floating around in my head for several years now – long before it became a political slogan – and it’s been wanting to get out. I won’t pretend it’s a great insight. It should be common knowledge but apparently it’s not given what the... Read more »