Tag: market conditions

Chicago metro prices down, national prices up per CoreLogic

CoreLogic has released its March Home Price Index report which shows that nationally home prices, including distressed sales, declined on a year-over-year basis by 0.6 percent in March 2012 compared to March 2011. On a month-over-month basis, home prices, including distressed sales, increased by 0.6 percent in March 2012 compared to February 2012, the first... Read more »

New Cook County property tax site is a must-see

The new Cook County Property Tax Portal has gone live, providing easy online access to a variety of property tax information through a single website. The site is the result of cooperation among the elected county officials who take part in the property tax system. The aspect of the site with the greatest impact is... Read more »

A thin supply of new rental homes in western suburbs

We include the following suburbs in a “near west” group for which we periodically scan available rentals: Oak Park, River Forest, La Grange, La Grange Park, Western Springs, Downers Grove, Oak Brook, Oak Brook Terrace, Hinsdale, Brookfield, Berwyn, Cicero and Forest Park. During the past 7 days only 28 homes and condos were newly listed... Read more »

Signs of hope or bouncing along the bottom in Downers Grove?

Neumann Homes was the first of Chicago’s large locally-based builders to file for bankruptcy protection during the current housing downtown. The company’s 2007 filing was a harbinger of far more pain ahead for the homebuilding industry – the proverbial canary in the coal mine. Trib Local is reporting that developer Ken Neumann, now billing his... Read more »

Home sales volume up sharply in Chicago metro area

The following market update arrived via a news release from RE/MAX Northern Illinois: A RE/MAX analysis of March home sales activity in the metropolitan Chicago real estate market indicates that the marked increase in home sales activity seen in recent months is beginning to have a positive impact on home prices. According to RE/MAX, combined... Read more »

Foreclosure, delinquency rates rise in Chicago metro area

Foreclosure rates in the Chicago-Joliet-Naperville CMSA have increased for the month of January over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans is 6.35 percent for the month of January 2012, an increase of 0.57 percentage... Read more »

Metro Chicago home sales soar 26 percent in February

The following market update arrived via a news release from RE/MAX Northern Illinois: Home sales activity in the metropolitan Chicago real estate market continued to accelerate in February, posting its strongest increase in six months. There were 4,760 closed sales in the seven-county area during the month, 26 percent more than during February of last... Read more »

A new owner and new approach for Yorkville's Grande Reserve

Chicago’s far west suburbs saw dozens of large subdivisions offered for sale during the boom years in the early to mid-2000s, and saw all of them flounder to greater or lesser degrees during the housing bust that followed. Grande Reserve, at 1,128 acres was the largest subdivision in Yorkville, and was originally planned to host... Read more »

A two-bedroom at The Grove for 45% of the 2007 price

Having visited The Grove in Forest Park several times I find it difficult to fathom how units in the development can be selling at such steep discounts from their original selling prices. But they are. The Grove is an attractive, quality development by an established, highly-regarded North Shore builder. The units were well-designed, well-built and... Read more »

Quote of the day – some builders are dead men walking

Credit the always-readable Diana Olick at CNBC for our quote of the day: Last year was the worst on record for the nation’s builders, in sales and starts, but demand is slowly returning, and the concern is that when demand really surges in the coming years, there will be too little supply to meet it.... Read more »