Archive for August 2011

How Chicago Home Prices Have Tracked With Income

With the Case Shiller home price index for Chicago coming out yesterday it’s a good time to step back and remind ourselves what this thing really tells us. After all, this index essentially looks at home prices in a vacuum – in absolute terms. What can be more insightful is looking at those home prices... Read more »

Case Shiller: Chicago Home Prices Surge Again

With 2 months in a row of really healthy home price increases in Chicago you can’t help but wonder if maybe the bottom is in for home prices. After all, this is the third time that prices have bounced up since the bubble burst and just maybe the third time is a charm. S&P just... Read more »

$12 MM Foreclosure On Spire Developer's Personal Residence

Garrett Kelleher, the developer of The Spire, has obviously seen better days. First, all he has to show for his Spire project is a massive hole in the ground and that is facing a $77 MM foreclosure suit. But now, according to a story in Crain’s yesterday, his personal residence at 1416 N Astor St... Read more »

Home Alone Home Now Under $2 MM

Home Alone Home Now Under $2 MM
The Home Alone Home at 671 Lincoln in Winnetka¬† was originally listed back in May at $2.4 MM by Marissa Hopkins of Coldwell Banker. They are wasting no time with the price cuts as the price was initially reduced to $2.175 MM in June. Yesterday, the price was cut further to $1.95 MM. It’s a... Read more »

How A Realtor Chooses A Realtor To Sell His Parents' Home

Well, at least this is about how I’m going about choosing a realtor to sell my parents’ home. I wonder how other realtors would do this. Actually, one of my first real estate blog posts was about how to choose a realtor. Of course, now that it’s hitting a lot closer to home I need... Read more »

Is Zip Realty Doomed?

I think it’s becoming increasingly clear that the real estate brokerage formerly known as a discount brokerage, Zip Realty, is struggling and may not survive. If for no other reason all you have to do is look at their stock price which has been on a steady downward trajectory ever since they went public in... Read more »

Near West Side's Coolest Condo: 4700 Square Feet For $899,000

I see a lot of condos and lofts and usually they all fall into one of 3 or 4 cookie cutter molds. However, occasionally I come across one that actually excites me. Such was the case on Thursday when I went with some clients to this very cool and very unique 4700 square foot condo... Read more »

11 Of The Sleaziest Real Estate Practices

If you ever wondered to what depths realtors would stoop to jack up their income Inman News has just come out with a pretty comprehensive list of questionable real estate practices. This list was created for a survey of real estate agents in which Inman asked them how bad they thought these practices were and... Read more »

10 Months Of Low Chicago Foreclosure Activity Doesn't Mean A Damn Thing

RealtyTrac came out with their July Foreclosure Market Report the other day and it shows a continued depressed rate of foreclosure activity in Chicago and the nation. In the Chicago graph below you can see that this is the 10th month in a row where the foreclosure activity is below the previous year, which was... Read more »

July Chicago Home Sales The Lowest In 14 Years...Sorta

Next week, on Thursday, the Illinois Association of Realtors is going to release their sales statistics for the month of July, unless of course there is another delay associated with their famous goof. With pretty high certainty the July home sales numbers for Chicago are going to be about 4.6% higher than last July. But... Read more »