Archive for April 2010

Is Your Association Preventing You From Selling Your Condo?

Some time ago I wrote about how your listing agent might be ignoring 36% of the market by not helping your condominium association pursue FHA approval. Since then I have discovered that the bigger obstacle is actually condominium associations that are reluctant to pursue FHA approval. Here are the reasons that are often cited: Cost.... Read more »

Chicago Home Price Changes By Zip Code

As a follow up to their story the other day on Chicago home price changes, Crain’s has posted a zip code graphic with rollovers where you can see the one year change in home prices by zip code. The data was provided by Fiserv, which produces the data for the Case Shiller index. It’s pretty... Read more »

Chicago Home Prices Continue Fall As Crain's Reports On Increase

Yesterday Crain’s reported on how Chicago area Home Prices Perk Up, just in time for today’s release of the Case Shiller home price index numbers for February that showed a continuing decline in home prices. To be fair the Crain’s article addresses home price changes over the last year, while the Case Shiller index is... Read more »

Chicago Area Home Sales Continue Surge - Up 45%

The Illinois Association of Realtors just reported on March home sales in the Chicago area and once again the numbers show a huge jump over last year. March sales were up 45.4% year over year. In just the city alone sales were up 49.7%. The graph above plots not only the home sales by month... Read more »

2 Bad Realtor Photos In One Day

It’s always a good day in real estate when I can start and end the same day with a great chuckle over some of the worst realtor photos ever. Adding to my collection, I started yesterday with this photo – apparently appealing to film processors. Then I ended the day with this shot of the... Read more »

Can You Get The Home Buyer Tax Credit On A Short Sale?

Consider the following facts: There are only 11 days left before the home buyer tax credit expires There are a ton of short sales on the market Short sales can take forever to get approved Given these facts, I’m pretty sure that most agents are avoiding short sales for their buyers that are interested in... Read more »

Chicago Foreclosures Drop 19% In March

If you are following the foreclosure news in the mainstream media (see Crain’s) you will hear about how foreclosure filings in Illinois were up 17.5% in the first quarter over last year. However, when you look at RealtyTrac’s March foreclosure numbers for just Chicago the picture is a bit better. They were actually down 19%... Read more »

Falling Home Prices Also Hit Chicago's University Village

We live in University Village (love it here) and judging from some of the marketing material that we get in the mail from certain real estate agents you would think that this area has not only been immune from falling home prices in Chicago but that the homeowners here have been making a killing when... Read more »

Is Your Agent Avoiding Short Sales?

I’ll be the first to admit that short sales can be a pain in the ass. They can take a long time and you need to have the right mental attitude. Surely you don’t want to be going after a short sale today if you absolutely have to have that tax credit that expires at... Read more »

The Curious Case Of The Burnham Park Plaza Condos

Located at 40 E. 9th Street, the Burnham Park Plaza condos caught my attention a while back when a client became interested in one of the “penthouse” units with 2 bedrooms, 2 baths, and 1 garage space. Unit 1902 was arguably one of the most peculiar short sales I’ve seen and it left me scratching... Read more »