The Chicago 77

29 October 2009 –GET YOUR CHECKBOOKS OUT……. Bad news and not so bad news for Cook County and Chicago residents. The new tax bills will be arriving shortly and some residents may want to be sitting down when they open their mail. Most Cook County residents will be looking at a median increase of 10 […]

10 August 2009 ? The impact of the conditions of the local real estate market is one of the a largest factors to the growing budget deficit of the City of Chicago. With a projected shortfall for the overall budget in 2009 to exceed $300 million dollars, the mayor?s office is predicting a greater number […]

First-time buyers have been driving the market in Chicago for months. They are taking advantage of both the low prices and the nearly record breaking interest rates available to them. First-time buyers are also helping the market by buying homes from sellers wanting to also take advantage of the market by buying something larger. In […]

27 July 2009 ? With only 127 days left for first time home buyers to take advantage of the $8000 tax credit, speculation is heating up on whether it has been effective with much doubt it will be renewed. Because of longer times for processing mortgages, buyers must be under contract in the next 60 […]

Is your income less than $72,384? Is your household income less than $105,560? If your answers are yes, you may be missing out on a little known program offered by the City of Chicago?s Department of Community Development. I recently met with a client who has an income of $55,000 per year. The client is […]

Don’t count on your property taxes dropping as a result of reduced market values. 2009 is a reassessment year for the City of Chicago. The Sun Times recently reported that homeowners in portions of Rogers Park received notice that the assessed value of their property has decreased up to 6.1%. While that news may seem […]

2 July 2009 – First ward alderman Manny Flores has proposed an ordinance to cap the city’s liability for the 2016 Summer Olympics here in Chicago at $500 million. This proposal was in response to Mayor Daley’s meeting with the Olympic Committee in Switzerland on June 17. In that meeting Mayor Daley said as host […]

25 June 2009 ? Mortgage backed bonds opened up 19 this morning and continued to trend up to a positive 41! Mortgage Bonds may be rallying as the unemployment continues to rise with 15,000 more jobs lost than forecasted. Yesterday?s announcement by the FED that they will keep the Prime Rate close to zero (0) […]

Why should I refinance? The obvious answer is that it will save you money. But it?s more than just your monthly payment going down. You might say, ?But Brad, I have no problem making my payments right now, why should I bother??

There aren’t many co-ops in Chicago, but occasionally one comes up in an MLS search and my buyers always ask about them. I know of several along Lake Shore Dr and in Hyde Park, one in Ravenswood, and a few in Rogers Park. Until the most recent condo boom, co-ops were the most prevalent form […]

In many articles you can find on the Internet, in publications, and in advertisements for energy efficient products, there are claims made of impressive energy savings for making certain energy efficient improvements to homes and buildings. What would it mean to our country if every building were actually able to reduce its energy use by that much? What about if the savings were more substantial?

Tax season is looming and homeowners everywhere should know the opportunities available to them for tax breaks and incentives. This info is also valuable for potential home buyers so they are aware of what expenses are deductible and the ins and outs of new tax laws, since there are so many nowadays! Thanks President Obama! […]

The recent stimulus plan that was enacted can help home buyers, but it’s limited to certain situations. If you are a first time home buyer, or if you have not owned a home in the past three years you could qualify for this credit. The credit cannot be used at closing, however. This credit is […]