Posts tagged "short sales"

2965 N Sheridan Rd, Chicago: The Lake View House That Hasn't Sold In 6 1/2 Years

2965 N Sheridan Rd, Chicago: The Lake View House That Hasn't Sold In 6 1/2 Years
This is a pretty sad story of a single family house that has been on and off the market for 6 1/2 years in Chicago’s Lake View neighborhood, in the Nettelhorst school area. It is located at 2965 N Sheridan Rd and first went on the market in March 2007 for $2.8 MM but is... Read more »

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal
Best I can tell the Mortgage Forgiveness Debt Relief Act, which prevents underwater homeowners from having to pay income tax on the phantom income generated when their mortgage lender forgives a portion of their mortgage, was extended as part of the fiscal cliff deal that was approved by the house of representatives last night. Originally,... Read more »

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff
Back in September I warned about the impending doom awaiting unsuspecting short sellers if they didn’t complete their short sales by the end of the year because the Mortgage Forgiveness Debt Relief Act is set to expire at the end of the year along with many other tax preferences. It’s all part of the fiscal... Read more »
Advertisement:

Deficiency Judgments: The Dark Side Of Short Sales

Deficiency Judgments: The Dark Side Of Short Sales
Just because you do a short sale doesn’t mean that you get to walk away from your underwater house without any financial repercussions at all.  Yes, you may have heard that a short sale allows you to get out from under the heavy burden of owing more than your house is worth but that’s not... Read more »

Continued Positive Signs In Chicago's Real Estate Market In May

Continued Positive Signs In Chicago's Real Estate Market In May
According to several measures that I track the Chicago real estate market continued to show signs of real strength in May. May Home Sales For Chicago These are the numbers that the Illinois Association of Realtors reports but if you read this blog you get these numbers 2 weeks earlier than everyone else. In May... Read more »

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 »
Advertisement:

Treasury Department Spotlight On Chicago Housing Market

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 »

Why I Bought A Home Now After Renting For 12 Years

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 »

Chicago Home Sale Activity Skyrockets In February

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 »
Advertisement:

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

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 »
  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Advertisement:
  • Getting Real On Facebook

  • Subscribe To Getting Real

    Subscribe to RSS Feed RSS Feed

    Enter your email address:

    Delivered by FeedBurner

    Google
  • Meet The Blogger

    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

  • Tags

  • Monthly Archives

  • Advertisement:
  • Fresh Chicago News