Archive for June 2011

State Of The Chicago Rental Market

With so many people finding themselves without down payments for new homes and others finding themselves stuck in their existing homes it should come as no surprise that Chicago’s rental market is hot right now. Crain’s ran a story a couple of days ago on the resurgance of Chicago’s rental market. In this article they... Read more »

Your GettingReal Feed May Disappear With New ChicagoNow Platform

Tonight ChicagoNow is switching their site over to a new platform. This is widely expected to be an improvement to the site and its blogs. However, one side effect of this transition may be that your GettingReal feed will disappear. It all depends. If you signed up for our alerts on the ChicagoNow site then... Read more »

Free Babies With Purchase Of Condo?

Must be a new condo promotion…free babies if you close on a purchase by July 1? They must be twins. Just another example of bad realtor photos. If you are going to give away the twins you need to let us see their faces. Heck…one of them is facing the wrong way and they’re not... Read more »

Are Chicago Home Prices Finally Turning The Corner?

The Case Shiller Home Price Index for April just came out a few minutes ago and for the first time in many months there are positive signs in the numbers for Chicago. A lot of people must have been interested in these numbers because the S&P servers crashed for 11 minutes after the release of... Read more »

The Biggest Homes Of Lincoln Park

Last year I stumbled upon a massive home under construction in Lincoln Park. Ever since I’ve been meaning to write a post on the biggest homes in Lincoln Park. So where are they and who do they belong to? Interestingly, the top 3 all fall within a block of each other – with 2 of... Read more »

2 Million Homeowners Underwater By More Than 50%

Yesterday I posted on the huge shadow inventory of homes in Chicago and the nation. However, CoreLogic also reported on an even bigger threat to the recovery of the housing market in the form of homeowners who are seriously underwater on their mortgages. The number they reported is staggering: In addition to the current shadow... Read more »

Washington Defies Logic With Oil Market Intereference

Nothing to do with real estate but this has to be the dumbest news since that Jackass guy killed himself driving 140 MPH while drunk. At least the Jackass guy had an excuse. The US Department of Energy just announced that they are going to release 30 MM barrels of oil from the Strategic Petroleum... Read more »

What Does Chicago's Shadow Inventory Look Like?

CoreLogic released their shadow inventory numbers for April yesterday and it shows a decline in the absolute number of homes that are not yet on the MLS but are distressed – 90 days or more delinquent, in foreclosure, or already owned by banks. The numbers declined from 1.9 MM units a year ago to 1.7... Read more »

Chicago Foreclosure Activity Remains Low In May

It looks like foreclosure activity continues to putter along in Chicago at levels that are low relative to the past couple of years. This according to RealtyTrac’s May Foreclosure Market Report, which does not offer an explanation this time as to the low levels being seen across the country. I think you can only “blame”... Read more »

Can Chicago Home Prices Really Fall Another 25%

Professor Robert Shiller, who is famous for his analysis of home prices going back to 1890 and inventing the term “irrational exuberance”, is periodically interviewed about his outlook for home prices. He was recently quoted as saying that home prices could fall another 25%. What the…???? Take a look at this follow up interview with... Read more »