Tag Archives: Pricing

Case-Shiller vs. MLS ? Some Very Interesting Data on Chicago Real Estate Market

Written by: - July 2, 2009

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Case-Shiller vs. MLS ? Some Very Interesting Data on Chicago Real Estate Market

Have you read the latest news that home sales are down? Pretty much everyday, right? According to Standard & Poor’s Case-Shiller Home Price Indices (PDF), released on Monday, Chicago experienced an 18.7% decline in home prices from April 2008 to April 2009, but did not experience a percentage change from the prior month, March 2009 […]

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Buy or Rent? Buying is Starting to Make Financial Sense Again

Written by: - June 29, 2009

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29 June 2009 – This week?s Crain?s Chicago Business (PDF) is reporting that the relative cost of owning vs. renting is swinging back in favor of home ownership across the U.S. and in Chicago. The Chicago real estate market is already seeing signs of this with an increase in pending home sales. There are great […]

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With So Many Short Sales Today, Should I Wait to Buy?

Written by: - June 25, 2009

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With So Many Short Sales Today, Should I Wait to Buy?

Here?s a question real estate agents are hearing lately??With so many short sales out there?does that mean the market is getting worse and should I be concerned about buying now verses later this year?? The answer, in a word, ?No.? Short sales certainly seem to be on the rise due to a variety of reasons: […]

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The Rich and Famous Have Real Estate Problems Too!

Written by: - June 24, 2009

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The Rich and Famous Have Real Estate Problems Too!

Take comfort home sellers! Celebrities are having the same problem as we common folk. Here are some celebs who can?t seem to sell their houses: Jon and Kate Gosselin, co-stars of the popular TLC show “Jon & Kate Plus 8,” have been trying for three months to sell their former home in Elizabethtown, Pa.

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Home Sales Down Just 19% in May in the Chicago Area

Written by: - June 24, 2009

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Home Sales Down Just 19% in May in the Chicago Area

I think there is light at the end of the tunnel. We can certainly see it in our showing activity and in the market. It’s still not an easy market or necessarily a fair market for all involved, but it is changing for the better. Statistics from Illinois Association of Realtors (IAR) definitely back up […]

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You Never Know It Is The Bottom Until You Are On Your Way Back Up

Written by: - June 23, 2009

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You Never Know It Is The Bottom Until You Are On Your Way Back Up

As prospective buyers are sitting back, waiting, and speculating about when to take advantage of the bottom, it appears we have hit a plateau. One of the most effective ways for pricing to stabilize and then see appreciation is depleting inventory. Signs Home Prices in Chicago Are Stabilizing According to the Illinois Association of Realtors, […]

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Chicago Housing Market’s Inventory and Pricing Starting to Level

Written by: - June 22, 2009

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22 June 2009 ? Signs are appearing that both inventory and pricing in the housing market are starting to level. Banks modifying existing mortgages are keeping people in their homes who thought they would have to sell. A large number of foreclosure units will not be hitting the open market as reported in Friday?s Chicago […]

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Will Chicago’s Gentrification Survive the Recession?

Written by: - June 8, 2009

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Will Chicago’s Gentrification Survive the Recession?

I have been pessimistic about the chances that neighborhoods like Uptown would continue to renew and rebuild…be a magnet for the middle class. However, after reading this Forbes interview, I’m beginning to think my pessimism may have been misplaced. At least I hope it was and their optimism is correct.

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Chicago Homes Sales are UP…and DOWN

Written by: - May 28, 2009

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Chicago Homes Sales are UP…and DOWN

The Up We are seeing the continuation of a trend that seems hopeful. According the Illinois Association of Realtors┬« home sales in Chicago for April 2009 were up when compared to March 2009 by 16.7 percent. There were 1,378 home sold in April as compared to 1,181 in March. This seems to reflect the time […]

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Job Loss and Climbing Vacancy Rates: A Bad Combo for Landlords

Written by: - May 20, 2009

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Job Loss and Climbing Vacancy Rates: A Bad Combo for Landlords

Normally May is a great time to be a landlord in Chicago. This season, I wish I could say it is, but it isn?t. Apartment conditions in Chicago have softened because of the rising unemployment rate and overbuilding. The citywide condo boom has ended, and a lot of recently completed and under-way projects are now […]

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Chicago’s Real Estate Market is Declining, But Is Your Home?

Written by: - May 19, 2009

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Chicago’s Real Estate Market is Declining, But Is Your Home?

In today’s real estate market, everyone wants to know if we have hit the bottom of the declining market. The only way to really know the answer to that question is to see property values start to level off and even appreciate some. The national media would have you believing that property values in Chicago […]

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Why Have Property Values Dropped So Much & When Will They Stop?

Written by: - April 29, 2009

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Why Have Property Values Dropped So Much & When Will They Stop?

The two big questions on everyone?s mind are why have property values dropped so much, and when will they stop dropping? Even though there are no truly simple answers to the complex set of issues which have created and sustained the problems in the real estate and financial sectors of our economy, I can distill […]

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Chicago Home Sales Up 40.6% And Median Prices Up 0.8%

Written by: - April 24, 2009

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Chicago Home Sales Up 40.6% And Median Prices Up 0.8%

The Illinois Association of Realtors is reporting that March home sales in Chicago were up 40.6% over February. February 2009 saw 840 transactions and there were 1,181 in March. However, year-on-year the numbers are way down, with a drop of 42.2% (down from 2,044 in March of 2008). Chicago’s prices are proving to be sticky?the […]

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