Zillow Claims That These Keywords Will Get You 29% More For You Home

Zillow Claims That These Keywords Will Get You 29% More For You Home
Zillow came out with another one of their bizarre real estate analyses a couple of weeks ago. This one focuses on listing descriptions and concludes that just getting a couple of the right words into the description can increase the selling price of the home by up to 29%. Wow! If only it were that... Read more »

Chicago Foreclosure Activity Moved In Wrong Direction In March

Chicago Foreclosure Activity Moved In Wrong Direction In March
Attom Data Solutions released their Q1 2018 U.S. Foreclosure Market Report late last week and highlighted a 19% decline in the nation’s foreclosure activity from the first quarter of 2017. Their data for Chicago foreclosure activity in March also showed a significant increase from February, rising to the highest level since October. Nevertheless, it was... Read more »

Realtor Logo Redesign Fail Makes Entertaining News

Realtor Logo Redesign Fail Makes Entertaining News
I’m sure that all of you spend your days pondering what exactly a realtor is and that you have a highly emotional attachment to the current realtor logo. Well, for some reason the National Association of Realtors (NAR) decided that the 45 year old logo needed updating. Three days ago we received an email from... Read more »
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Chicago Real Estate Market: Worst Home Sales Decline In 20 Months

Chicago Real Estate Market: Worst Home Sales Decline In 20 Months
The Chicago real estate market continued to stall in March with the worst sales decline in 20 months. Home sales fell by 7.6%, just a smidgen worse than the 7.5% decline we saw in January. This was fully anticipated, given the huge decline in contract activity that we saw in February. However, it’s not as... Read more »

Zillow's Home Price Zestimate Accuracy Still Sucks

Zillow's Home Price Zestimate Accuracy Still Sucks
People pay an awful lot of attention to Zillow’s Zestimates of home prices and, to their credit, Zillow is constantly working to improve their valuation algorithm. In fact I think it was in June of last year that they launched their $1 MM Zillow Prize to be awarded to the team that could most improve... Read more »

Real Estate Brokerages Act As If Size Matters

Real Estate Brokerages Act As If Size Matters
Two weeks ago Crain’s reported on a lawsuit brought against Baird & Warner by @Properties regarding B&W’s Chicago area home sale volume during 2017. According to the article B&W claimed to have done $8.8 B in business last year but @Properties claims that the real number is closer to $5.6B. @Properties is asking “a judge... Read more »
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Chicago Voter Support For Rent Control A Huge Mistake

Chicago Voter Support For Rent Control A Huge Mistake
Last week 75% of Chicago voters who were given the chance to weigh in on Illinois’ current ban on rent control supported lifting the ban. I guess technically they didn’t actually support rent control – i.e. lifting the ban would merely give local governments the option of imposing rent control. However, I have a strong... Read more »

Case Shiller: Chicago Area Home Price Appreciation Still Lagging Nation

Case Shiller: Chicago Area Home Price Appreciation Still Lagging Nation
Dow Jones S&P CoreLogic just released the January Case Shiller Chicago area home price index along with the indices for 19 other major metro areas and the nation as a whole. As has been the case for several years now single family home prices have been up on a year over year basis across the... Read more »

Chicago Foreclosure Activity Hits New Low While Foreclosures Increase

Chicago Foreclosure Activity Hits New Low While Foreclosures Increase
Yeah, I intentionally wrote a confusing headline in order to make a point. Attom Data Solutions just posted the February foreclosure activity data on their RealtTrac Web site, though they did not issue a new report (that will likely come with next month’s data release). The Chicago foreclosure data apparently tells a contradictory story. On... Read more »
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Chicago Real Estate Investment Market Unfazed By Higher Interest Rates

Chicago Real Estate Investment Market Unfazed By Higher Interest Rates
In theory a real estate investment can be valued like a bond. It produces a stream of cash flows so its value should be based on the discounted cash flows. Even though they may not know how to calculate a net present value most real estate investors get the general concept. A higher cash flow... Read more »