Getting Real

Maybe The Chicago Housing Market Isn't So Fragile After All

Yesterday I posted on the Treasury Department report on the Chicago housing market which characterized the market as “fragile”. However, that report seemed to focus on the hardest hit parts of this market and the most distressed homeowners. It makes sense, given their agenda. However, now that I’ve pulled the March transaction activity for Chicago... Read more »

By Gary Lucido,
April 9, 2012 at 6:30 am

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Treasury Department Spotlight On Chicago Housing Market

On Friday the Treasury Department came out with their March Housing Scorecard with a Spotlight on the Chicago Housing Market for 14 area counties in 3 states. The headline of the report is that the Chicago housing market is more challenged than the nation as a whole and, while it showing some signs of recovery... Read more »

By Gary Lucido,
April 8, 2012 at 11:17 am

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Why I Bought A Home Now After Renting For 12 Years

Realtor’s Home Purchase Ensures That Chicago Home Prices Will Crash On Friday, after renting for 12 years, my wife and I became homeowners for the 4th time. Obviously buying a home in Chicago was not a decision that we entered into lightly. When we first arrived in Chicago in 2000 we suffered from major sticker... Read more »

By Gary Lucido,
March 19, 2012 at 6:32 am

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Chicago Home Sale Activity Skyrockets In February

It will be another 2 weeks before the Illinois Association of Realtors releases February home sales for Chicago. When they do the headline increase will be around 12.5% (it may actually be as high as 17.4% but there seems to be another data discrepancy that I need to report) – not bad – and I’m... Read more »

By Gary Lucido,
March 7, 2012 at 8:08 am

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How The Government Actually Makes It Harder To Buy And Sell Short Sales

In response to my last blog post about how a bank refused to pay my commission on a short sale that I was buying for myself the Chicago area MLS did some further research on the issue and was in contact with the Chicago Association of Realtors with their findings. They referred me to so... Read more »

By Gary Lucido,
February 4, 2012 at 9:29 pm

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Yet Another Example Of Bank Stupidity With Short Sales

The banks never cease to amaze me with their utter stupidity when it comes to short sales. The list is topped by their convoluted internal processes, slow response times, unrealistic expectations, and their gullibility in being duped by unscrupulous realtors. However, what just happened to my wife and me in our own attempt to purchase... Read more »

By Gary Lucido,
February 2, 2012 at 7:07 am

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University Village Mid-Rise Lofts: 2011 Was A Tough Real Estate Market

At the southern end of University Village, just north of the railroad tracks, are 4 mid-rise loft/ condo buildings. At the eastern end are the newer construction loft buildings at 811 and 833 W 15th St. Just west of them are the converted loft buildings at 1524 and 1525 S Sangamon. Each of these 4... Read more »

By Gary Lucido,
January 27, 2012 at 2:46 pm

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November Home Sales Finally Show Meaningful Improvement In Chicago

When the Illinois Association of Realtors releases the November home sales numbers for Chicago and Illinois in two weeks they will once again show a significant increase in closings over last year – this time approximately 20.3% higher. However, as I’ve pointed out on numerous occasions, it’s not really appropriate to compare 2011 sales to... Read more »

By Gary Lucido,
December 7, 2011 at 3:19 pm

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How One Chicago Realtor Made $800,000 Flipping Short Sales

This is a topic that is near and dear to my heart because quite frequently I see peculiar short sales that really make me scratch my head. Ashley Gross of Chicago’s WBEZ radio station just aired an awesome story on how a few Chicago realtors, mostly with one particular real estate brokerage, have managed to... Read more »

By Gary Lucido,
November 30, 2011 at 5:45 am

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October Another Weak Month Of Home Sales In Chicago

In two weeks the Illinois Association of Realtors will release their home sales stats for Chicago for the month of October and they will once again trumpet the increase – this time 8.7% – over last year. But the truth of course sounds like a broken record: last year at this time sales had been... Read more »

By Gary Lucido,
November 8, 2011 at 7:18 am

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