Archive for March 2011

Realtors Desperate To Preserve Mortgage Interest Deduction And Other Government Favors

It looks like the realtors are pulling out all the stops to preserve all the favors they get from the US taxpayer. In addition to their lame Home Ownership Matters campaign they are now in full attack mode with a proposal for a new Realtor Party Political Survival Initiative – basically a $40 annual increase... Read more »

Chicago Home Prices Hit Another Low; $500 In Prize Money Offered For Best Forecasts

No surprise but with this morning’s release of the January Case Shiller home price index for Chicago we have confirmed that area home prices have fallen since December. However, condo prices dropped like a rock! This is the 5th month of declines in what is now a well established triple dip, with single family prices... Read more »

The NAR's Lame Case For Buying vs. Renting A Home

These are scary days for the National Association of Realtors. First the financial markets took away the punch bowl and now the government is getting ready to turn the music off and the lights on. The mortgage interest deduction is under attack and even the biggest fans of giving away taxpayer dollars now believe that... Read more »

Redfin Real Estate Comments - Agent Insights About To Shake The Wrong Tree?

In a blog post yesterday Redfin announced that they just launched a new feature on their Web site called Agent Insights. The concept is that when one of their agents tours a property with a buyer client they can enter their thoughts on the property so that Web site visitors can see what they thought.... Read more »

Oak Brook Castle Marked Down $200K - Kings In Short Supply

Last month I posted on the Oak Brook castle that was looking for a king. Apparently kings are in short supply because they just dropped the price by $200,000. It is now listed at $4.75 MM so get your checkbooks ready. The castle is located at 3015 Lincoln Rd in Oakbrook. That’s a new link... Read more »

Massive Villa Taj Palace Flooded - 6501 S County Line Rd, Burr Ridge

My business partner has previously written about the massive mansion in Burr Ridge at 6501 S County Line Rd – affectionately known by the original owner as Villa Taj. Just to give you some quick stats on the home: 30,000 square feet A 15,000 square foot terrace 6 bedrooms 2400 square foot master bedroom 8... Read more »

Why You Should Be Worried About Rising Mortgage Rates - And The Country

We’ve all heard about how bad our nation’s deficit is but just how bad is it really? As I was catching up on my investment reading and re-evaluating my strategy I started to wonder what the country’s debt situation really looked like. I mean…maybe I need to move to Costa Rica. You can find a... Read more »

16.4% Below 2004 Price - Another Bucktown Deal Or Not?

Here is another single family home that recently sold in Bucktown for what appears to have been a bargain basement price and this time there doesn’t appear to be any shady dealings going on. Or maybe it wasn’t such a bargain. You tell me. This home at 1932 N Hermitage last sold in January 2004,... Read more »

Illinois Internet Sales Tax Bill Is Already A Failure

Illinois Internet Sales Tax Bill Is Already A Failure
  Another post that has nothing to do with real estate but I couldn’t help myself. The ink hasn’t even dried on Quinn’s signature and already the Internet Sales Tax bill he signed yesterday is a failure. Background A huge problem for the city and state is that they don’t collect tax revenue on Internet... Read more »

Chicago Foreclosure Activity Dips To Lowest Level In 2 Years...Maybe More

RealtyTrac just came out with their February foreclosure activity numbers and it shows Chicago, like most of the nation, plumbing new lows in activity. I’ve only been collecting the data for two years now – hence the qualification in my headline. However, based upon my limited data, February was at the lowest level during the... Read more »