Archive for September 2010

Chicago Home Prices Eke Out Another Gain But Not For Long

The Case Shiller home price index for Chicago was just released a few minutes ago. For the 4th month in a row home prices in Chicago rose, with single family homes rising 1%, while condominium prices rose 0.1%. This puts single family home prices back at the level they were in December 2002 and condominium... Read more »

Chicago Foreclosures Up 60% In August

Got your attention? Well, these RealtyTrac numbers jump all over the place so I wouldn’t get too excited. They just came out with their Chicago foreclosure numbers for August and, as you can see in the graph below, August activity is considerably above last year’s numbers. That is less significant than the fact that overall... Read more »

How Long Does It Take To Sell A Home In Chicago?

As you might expect the answer is “it depends”. And up until a few weeks ago I couldn’t even easily answer the question because a while back I discovered that there were some serious problems with the Multiple Listing Service data over the past few years and this has caused many realtors to provide incorrect... Read more »

Preview Of August Chicago Home Sales: Down 25%

We don’t need to wait for the Illinois Association Of Realtors to release their official August home sale numbers for the city of Chicago in 2 weeks. We already have a pretty good idea, based upon MLS data, that the number of condos and single family homes sold is going to be down about 25%... Read more »

The Case Against Homeownership

You would think that Time Magazine had insulted Vicki Cox Golder’s (the president of the National Association of Realtors) mother the way she reacted to their recent cover story about rethinking homeownership. That link only goes to an abridged version of the print story (I only read the abridged version) but the gist appears to... Read more »

Time To Kill Fannie And Freddie?

About a week ago Barron’s ran an article on the future of Fannie Mae and Freddie Mac – you know the formerly quasi government companies that are no longer quasi because they lost so much money trying to subsidize home purchases for people who shouldn’t have been buying those homes in the first place? They... Read more »

Chicago Real Estate: It's a Renter's Market?

Today’s post on the Chicago rental market was submitted by Rick Marks from Oodle. With unemployment levels soaring and the great recession in full swing, more and more would-be Windy City home buyers are turning to the Chicago apartment rental market for their housing needs. But just what does this mean to the average Midwesterner... Read more »