Posts tagged "real estate"

Experts Predict End of 30-Year Mortgage

The New York Times recently published an article discussing what might happen to the lending market if the government formally elects to shut down Fannie Mae and Freddie Mac in the coming years. The loss of these two government-run lending powerhouses, the article supposes, could signal the end of borrower luxuries like low interest rates,... Read more »

Census Confirms Migration to Suburbs

For individuals in the real estate game, trends are often based on perception instead of figures, since most of the time figures are hard to come by or simply take too long to calculate. But you can ‘feel’ certain things happening in and around the Chicago real estate market. Those feelings were confirmed by yesterday’s... Read more »

Things You Shouldn't Hear From Your Agent

This blog has discussed before the important role of a real estate agent in a home/condo purchase. Chicago is blessed to have some of the nation’s top agents helping homebuyers find a suitable property. There are, however, some distinct warning signs that your agent isn’t right for you. Here are five statements you don’t want... Read more »

Can the Homeowner Associations Resurrect Condo Sales?

A funny thing happened during the real estate boom: Condo owners became vital businesspeople and condo boards (pictured) became crucial to their building’s future. Whether they wanted to or not, the individuals behind the Homeowners’/Condo Associations often times determined the fate of their entire building, and, to some degree, the Chicago condo market. One developing... Read more »

Bad Signatures the Least Concerning Foreclosure Trend

Over the last two weeks, the entire foreclosure industry has been turned upside down. Bank of America’s recent decision to put a halt to all of its foreclosure proceedings in the United States last week was the biggest shoe to drop, after weeks of other banks looking into their own potentially flawed foreclosure processes.  These... Read more »

'Shadow' Inventory Causing Concern

In the real estate community, the term “shadow inventory” has become a dreaded topic. Shadow inventory refers to real estate that is likely to become bank-owned, but is still in the early stages of that process. For example, homes with owners who are behind on their mortgage payments, with the expectation that the property will... Read more »

Added Home Repair Protection For Disabled

The real estate market relies heavily on the construction and home-repair segments. When people are building new homes and repairing their existing homes, things are likely going well in the real estate community. But with the slow-down of housing construction and repair, an increasing number of contractors have sought ways to keep their revenues steady.... Read more »

Loan Modifications in the News

Today’s Chicago Tribune sheds some light on the much-criticized loan modification industry in Chicago and nationwide. It’s a piercing look at the predatory nature of the business, particularly the legal community’s involvement.  For those who haven’t read the piece, it discusses the role of attorneys in the loan modification process, and how often times it... Read more »

Daley's Departure: The Real Estate Ramifications

On Wednesday, Mayor Richard M. Daley announced he will not seek re-election, thus ending his 21-year reign as mayor of Chicago. It has been a remarkable tenure for Daley, who is now known internationally for his often-brash method of city management and handling the media. As his mayoral run comes to end and politicians line... Read more »

New Rules for Converting to Condo

Mayor Richard M. Daley announced new regulations yesterday targeting apartment landlords who convert to condos. Daley will formally introduce the proposal at the City Council meeting on Wednesday, Sept. 8. Under the new plan, developers and building owners will be required to give more notice to renters that their units are going to be converted.... Read more »