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The Short Sale Process Part 1 – How to Hit a Bull’s Eye While Blind Folded

Mon, Feb 8, 2010 - Randy Whiting

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The Short Sale Process Part 1 – How to Hit a Bull’s Eye While Blind Folded

The question I come across regarding short sales involves an uncertainty of the length of time it will take to navigate this process successfully to the end. Unfortunately the answer can be equated to the number of licks it takes to get to the center of a Tootsie-Pop.

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New Signs of the Dinosaurs

Fri, Feb 5, 2010 - Andrea Geller

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New Signs of the Dinosaurs

Every once in a while I like to go back and revisit old posts and see if there are still relevant or thoughts of the moment. This post still rings true and truer for both buyers and sellers: Telltale Signs Your Listing Broker is a Dinosaur. Meeting with new clients recently, I have been getting [...]

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Waiting for The Recovery? Don’t Forget the Compass Point

Thu, Feb 4, 2010 - Katie Anderson

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Waiting for The Recovery? Don’t Forget the Compass Point

While we all sit here in Chicago and wait for the economy to rebound, I often wonder, “What is the hold up?” There are many answers to that very simple question. Because I am an appraiser as well as a broker, I do get some different insight that others miss out on. [...]

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Condotel…A Property By Many Names

Thu, Feb 4, 2010 - Stacy Braack

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Condotel…A Property By Many Names

Condo? Hotel? Timeshare? The uncertain economy and downturn in the real estate market have driven developers to create unique projects. Chicago has seen several “condotel,” developments, where units are sold fully furnished and come with daily maid service. Building amenities resemble those of hotels, and owners can use the units [...]

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Zillow Makes Serious Challenge to Realtor.com and MLS Online

Thu, Dec 17, 2009 - Katie Anderson

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Zillow Makes Serious Challenge to Realtor.com and MLS Online

Zillow is trying to compete with the Big Boys - the Multiple Listing Service and Realtor.com. But does Zillow have the tools and the reputation to make inroads in this competitive online market?

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HVCC Procedures and Misinformed Appraisers Delay Closings

Thu, Dec 10, 2009 - Katie Anderson

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HVCC Procedures and Misinformed Appraisers Delay Closings

I have seen both a good side and a bad side to the Home Valuation Code of Conduct program and have been lobbying for change. Well, today I saw first hand the debacle HVCC has created in the Real Estate world.

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Conventional Loan Ceilings Hinder Chicagoland Economy

Wed, Dec 2, 2009 - Katie Mischka

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Conventional Loan Ceilings Hinder Chicagoland Economy

We can help spur the economy here in Chicago if conventional loan limits were increased. By raising them, buyers in the market just above $417,000 would need less money down and benefit from the record low interest rates.

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October Housing Numbers: First Time Home Buyer Tax Credit Drives Market

Mon, Nov 23, 2009 - Andrea Geller

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October Housing Numbers: First Time Home Buyer Tax Credit Drives Market

As seen in previous months, home buyers have pushed the market by taking advantage of historically low interest rates, 2004 pricing and the first time home buyer tax credit. Yet home prices continue to be soft because of distressed properties and competition with other properties in this higher inventory market.

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Neighborhood Anxiety: Foreclosures, Short Sales, and Your Property Value

Tue, Nov 17, 2009 - Stacy Braack

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Neighborhood Anxiety: Foreclosures, Short Sales, and Your Property Value

Many homeowners have very valid concerns about the impact of a neighbor who has a comparable unit but is selling their property at a rock bottom price. When a neighbor sells at a very low price because of a new baby, job transfer, or other situation, the impact on the immediate market value of comparable units can be significant, but not necessarily devastating.

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Optimism for Winter Buyers, But Why Are Some Listings Being Pulled?

Mon, Nov 16, 2009 - Andrea Geller

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Optimism for Winter Buyers, But Why Are Some Listings Being Pulled?

I don’t understand why some agents are taking their listings off the market until after the new year. According to the Illinois Association of Realtors, 37% of home buyers are new to Chicago. Nearly half of these home buyers are first-timers who are eager to cash in on the federal tax credit.

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