Experts' Home Price Forecast Keeps Ratcheting Up

Experts' Home Price Forecast Keeps Ratcheting Up
I actually predicted this back in October when I wrote about the 3rd quarter home price expectations survey. Last week’s 4th Quarter 2021 Home Price Expectations Survey from Zillow and Pulsenomics produced an even more bullish outlook for the nation’s home prices than that already optimistic 3rd quarter survey. They set a new record. Since... Read more »

Resurgence Of Chicago Foreclosure Activity Not Materializing

Resurgence Of Chicago Foreclosure Activity Not Materializing
According to the 2021 US Foreclosure Market Report released last week by ATTOM Data Solutions foreclosure activity hit an all time low last year, which you can clearly see in the graph below. That shouldn’t be too much of a surprise because there was a moratorium on foreclosures for much of the year. Rick Sharga,... Read more »

Chicago Real Estate Market Update: Another 16 Year Record

Chicago Real Estate Market Update: Another 16 Year Record
It’s truly amazing. Two years into a pandemic and the Chicago real estate market is still smashing home sale records. December set a 16 year record to be exact and that’s despite the fact that inventory is still tight and last December also set a record. Home sales were 7.7% higher than in 2020 but,... Read more »
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Case Shiller: 3rd Month Of Slower Home Price Growth In Chicago Area

Case Shiller: 3rd Month Of Slower Home Price Growth In Chicago Area
S&P Dow Jones CoreLogic released their last Case Shiller home price indices update for 2021 this morning. Because of their normal reporting lag it’s for October. Both the nation and the Chicago area continue to post healthy but slower home price appreciation from the peak 4 months ago. This is the third month in a... Read more »

Chicago Real Estate Market Sets A 16 Year Record

Chicago Real Estate Market Sets A 16 Year Record
After last November surpassed the Chicago real estate market’s 2019 home sales number by 18.4% it was hard to believe that this year could be any better. Nevertheless, more than 1 1/2 years into the pandemic, we just posted another gangbuster sales increase of almost the same amount – 19.0%. Of course in two weeks... Read more »

The East Ukrainian Village Home Bought High And Sold Low

The East Ukrainian Village Home Bought High And Sold Low
In the interest of full disclosure I’m going to be selling my East Ukrainian Village home in the spring so I have a vested interest in the neighborhood having high home prices. But that’s how I stumbled across this very odd home sale at 1951 W Huron. My wife and I watch all the comparable... Read more »
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Case Shiller: Chicago Area Home Price Growth Slowing Down

Case Shiller: Chicago Area Home Price Growth Slowing Down
It looks like the pandemic driven runup in home prices is finally slowing down across the country as evidenced by this morning’s release of the September Case Shiller home price indices from S&P Dow Jones CoreLogic. The nation’s single family home prices still rose an incredibly strong 19.5% over the last 12 months but that’s... Read more »

West Town Mansion On Armour St Did Not Sell At Auction

West Town Mansion On Armour St Did Not Sell At Auction
Remember that mansion at 516 N Armour St in West Town that was supposed to auction off on November 10 without a reserve price? At one time it had been listed as high as $7.78 MM but then in July of this year it was relisted at $4 MM, which failed to produce a buyer... Read more »

Believe It Or Not Cook County Property Taxes Are Getting More Fair

Believe It Or Not Cook County Property Taxes Are Getting More Fair
I used to complain an awful lot about some of the crazy assessed property values I would stumble upon in my day to day real estate work. When Joe Berrios was running the Cook County Assessor’s office I would routinely find higher end properties assessed at a fraction of their market value. However, since Fritz... Read more »
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Chicago Foreclosure Activity Skyrockets - If You Believe The Data

Chicago Foreclosure Activity Skyrockets - If You Believe The Data
The most recent data from ATTOM Data Solutions’ October 2021 Foreclosure Market Report shows that foreclosure activity for the nation is up only 5% from the previous month but up 76% from last year. Of course, it’s easy to be up 76% from a year when there was a foreclosure moratorium in place that basically... Read more »