Archive for February 2011

How Could This Bucktown Single Family Home Sell So Cheaply?

I was digging into the single family home market in Bucktown the other day and I came across a couple of recent sales that look like they were great deals. Yeah, that’s past tense. They didn’t last long. In fact, you never even had a chance to buy this first one I’m featuring. Frankly, this... Read more »

Is The Obama Administration Trying To Push Down Home Prices?

  I don’t really believe that the Obaman administration is really intentionally trying to push down home prices but this could end up being the unintended consequence of their recent proposal to settle the foreclosure process complaints. And you heard it here first. At least I haven’t heard anyone else discuss this yet. Here is... Read more »

Worst Realtor Photos Ever: The Leaning House And Other Atrocities

Worst Realtor Photos Ever: The Leaning House And Other Atrocities
We just ran across these absolutely horrible real estate photos. What makes them so terrible is that we found them all on one listing. Never before have I seen a collection of almost every fatal photography flaw in one place. I say “almost” because the focus was actually pretty good so the realtor (these certainly... Read more »

Chicago Home Prices Hit Lowest Level Since Bubble Burst

The December Case Shiller home price index for Chicago was just released and once again single family home and condominium prices hit a new low. Actually, until this release, condo prices had not penetrated the low point of March of last year. Single family home prices barely dipped below the previous low with the last... Read more »

Oak Brook Castle Still Looking For King

Oak Brook, Illinois is known for having some over-the-top homes but this castle (yes, a real castle) takes the cake. I found out about it from one of the commenters on Crib Chatter a couple of days ago. As he said, “what a waste of resources”. Still under construction and owned by Iwanski-Pyzik Masonry, the... Read more »

Burr Ridge: Giant Homes, Lots Of Unique Style

The homes in Burr Ridge, Illinois never cease to amaze me. As long as you are willing to spend above $1.5 MM you can get 10,000+ square feet and there are plenty of surprises out there – homes with lots of personal taste that you could never imagine. For instance, just this last Sunday I... Read more »

Fannie Mae And Freddie Mac Are Toast

  There has been an awful lot of discussion in the last couple of days about the fate of Fannie Mae and Freddie Mac, the government sponsored entities that have been providing liquidity to the mortgage market for decades. Thankfully, it appears more and more likely that these two black holes will be dismantled. Yesterday... Read more »

Bad Realtor Photo: Giant Grass Head Emerging From Wall

It’s been about 30 minutes and I’m still laughing. I know I’ve got a winner when I’m furiously flipping through property photos and I run across something at 10 O’clock at night and I have to stop to post it. This bad realtor photo is bad on so many levels: It doesn’t tell you anything... Read more »

Declining Foreclosures In Chicago Probably A Head Fake

After all the negative data I’ve been presenting lately regarding all the distressed or underwater homes in Chicago we have come to find out that foreclosure activity is actually on the decline. RealtyTrac actually released their numbers for January yesterday and it shows a continued decline in foreclosure activity in Chicago as shown in the... Read more »

39% Of Chicago Homes Underwater

Zillow just released their 4th quarter real estate market report for the nation and the 25 largest metropolitan areas. What it shows is that for the Chicago area 38.6% of all homes are underwater. This data is based upon Zillow’s estimates of home values, which are notoriously inaccurate, but let’s assume that those errors cancel... Read more »