The Chicago 77

Representing both buyers and sellers I have learned the impact of price changes in this particular market. It is home-buying process is not only about the value of the property, but also the buyer’s perception that the seller really wants to sell. Sellers Must Acknowledge Price Pressures Sellers need to remember, particularly right now, they […]

5 October 2009 ? As we enter into the final quarter of the year, the writing is on the wall for how the Chicago real estate market will end up. There is be an increasing number of transactions happening at lower price points. For sellers it is the realty of pricing and the competing inventory. […]

Upon a mixed bag of numbers released last week by the National Association of Realtors, Standard & Poor?s Case-Shiller Housing Numbers released this morning show continued movement upwards making July the sixth month in a row with slight gain. ?The rate of annual decline in home price values continues to decelerate and we now seem […]

28 September 2009 ? With today?s announcement that President Obama will be going to Copenhagen for the final pitch on Friday to the International Olympic Committee on Friday, October 2, 2009 Chicagoans are feeling confident that we will be getting the 2016 Olympics. Plans for much needed work on replacing infrastructure, expanding public transportation, and […]

25 September 2009 ? With a mixed bag a housing numbers released yesterday, the Chicago condominium market appears to continue to face challenges while the single family market continues to gain momentum. There still continues to be a glut of condo inventory with increasingly difficult lending guidelines facing buyers. Lenders are scrutinizing the financial health […]

For the last several months I have been writing for the Chicago 77 Real Estate Blog. The title came from the 77 communities that make up the City. Some of my posts have been brief market updates and other longer and more substantive. In thinking of a new post to write, I realized I had […]

22 September 2009 ? The pressure is on first time homebuyers to quickly engage and get a property under contract with two significant deadlines coming. Late Friday afternoon, the Federal Housing Authority (FHA) announced the tightening of guidelines on FHA insured loans effective January 1, 2010 including the appraisal process. This comes upon the November […]

18 September 2009 ? As Chicago enters the last quarter of a very turbulent year in real estate, Chicago?s north side neighborhoods are still be the most widely searched by potential home buyers according to Trulia and the Chicago Tribune. Market values in Lincoln Park, Lakeview, Near North Side/Gold Coast, Wicker Park and Bucktown have […]

14 September 2009 ? As Chicago awaits the October 2, 2009 announcement of the decision of the International Olympic Committee, 2nd Ward Alderman Robert Fioretti addressed the Chicago Association of Realtors Government Affairs Committee on Friday. Alderman Fioretti spoke about the unique opportunity the 2016 Olympic games would present for the City of Chicago: 300,000 […]

11 September 2009 ? More signs of improvement in the Chicago housing market according to the most recent Capital Home Data Index Market Report. With the increasing number of sales, the number of distressed properties sold decreased by almost 10% as home prices increased placing Chicago in sixth position among the highest performing major housing […]

The week after Labor Day traditionally marks the beginning of Chicago?s fall real estate. As this has been a period of non-traditional activity, I have thought carefully about what are my expectations. The strengths and weaknesses in the marketplace will depend on what type of property in what area at what price. There is no […]

04 September 2009 ? As the clock is ticking for buyers to get a property under contract and close before December 1, 2009, the National Association of Realtors® is lobbying on behalf of their million plus members to get the $8,000 first time home buyer tax credit extended. They have a contest going: The REALTOR® […]

31 August 2009 ? According to an annual study conducted by Forbes magazine, Chicago is the most stressful city to live in for the second year in a row with Los Angeles and New York coming in second and third. The study takes into consideration the housing market, unemployment, cost of living, air quality, number […]