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LOOKING FOR A REAL ESTATE BARGAIN? BANK-OWNED PROPERTIES OFTEN BEAT SHORT SALES ON CHANCE FOR SUCCESS!
SHORT SALES: LONG APPROVAL TIMES, HIGH RATE OF DISAPPROVAL. ON COURTHOUSE STEPS, BUYERS OFTEN FALL SHORT! Here in Chicago , in many neighborhoods and Suburban Chicago Communities , buyers are king! Especially those with lotsa cash, or stellar credit. Read More...
IN 2011, HOME FINANCING LIKELY HARDER TO COME BY. THE IMPACT ON HOME SALES?
MORE STRINGENT GUIDELINES FOR LOW-DOWN-PAYMENT LOANS COULD RAISE COSTS, PRECLUDE MANY BUYERS! For Home Buyers and Real Estate Practitioners alike, 2010 offered the opportunity to buy real estate, in Chicago and elsewhere, at prices not seen in ten years Read More...
FORECLOSURES RULING THE MARKET? In Chicago, It's Not Quite So Clear Cut!
MEDIAN SALES PRICES OF FORECLOSURE PROPERTIES FALL SHARPLY, CONVENTIONAL PRICES DOWN TOO, BUT MORE MODESTLY! Chicago Neighborhoods, like most other Real Estate Markets across the U.S, has seen considerable home foreclosures over the past several years. Read More...
JUST WALK AWAY? One FL Survey Says 4 Out of 10 Underwater Homeowners Would!
SAME ATTITUDE HERE IN CHICAGO? FROM WHAT WE HAVE INFORMALLY GUAGED - YES! Back in the day . . . say, 2006 . . . few homeowners would consider simply walking away from their home, even if they couldn't keep up on their mortgage payments. Why should Read More...
CHICAGO REAL ESTATE MARKET CONTINUES SLUGGISH, Despite Some Positive Signs!
DESPITE MORTGAGE RATES LESS THAN 5%, INCREASE IN PENDING HOME SALES - CHICAGO REAL ESTATE STILL FEELING PAIN! There is something wrong with this picture! Still is! Across the U.S., and here in Chicago , Mortgage Interest Rates remain under the attractive Read More...
SNOWBALL! For Chicago Condos, Presence of Short-Sale, Foreclosed Units Can Hamper Ability to Sell Them, and Others in Complex!
FHA, FANNIE MAY GUIDELINES COULD SCUTTLE CONDO SALES WHEN MULTIPLE UNITS BECOME DELINQUENT IN MONTHLY HOMEOWNER ASSESSMENTS! Tighter lending guidelines have made it tough, in many cases, for the average Chicago Homebuyer to procure mortgage financing Read More...
IF CHICAGO JOBLESS RATE IS A FACTOR, Real Estate Market Turnaround Could Stall!
IL, CHICAGO UNEMPLOYMENT RATE STILL TOPS DOUBLE DIGITS, ALTHOUGH PACE OF RATE INCREASE SLOWS! I heard from an old Chicago Real Estate Agent some years ago an interesting axiom about a high Unemployment Rate , and it's impact on the Real Estate Market Read More...
CHICAGO HOME PRICES INCREASE - FIRST TIME SINCE JUNE, 2008! But . . . Mixed Signals Persist.
UNIT SALES CONTINUE TO RISE - CHICAGO CONDOS, SUBURBAN HOMES SHOW PRICE DECLINES! Is the Chicago Real Estate Market beginning to gain its stride once again? It depends on what statistics you are looking at! Considering Single-Family Homes in the City Read More...
AS FED HOMEBUYER TAX CREDIT ENDS, MORTGAGE APPLICATIONS TUMBLE!
LAST WEEK'S APPLICATIONS FELL TO LOWEST LEVEL SINCE 1997! Did the Fed Homebuyer's Credit , for First Time Buyers and Select Repeat Buyers , which expired the end of April, bolster the Real Estate Market? Has its expiration thrown the market, in Read More...
CHICAGO HOME PRICE TREND ENCOURAGING - But, Nationwide, Home Prices Continue to Face Downward Pressure!
CONTINUED HIGH UNEMPLOYMENT, GLUT OF FORECLOSURES TWO OF THE REASONS WHY! Encouraging news for Chicago Home Sellers? Perhaps! According to The PMI Group , a major provider of Private Mortgage Insurance for low-down-payment loans, the Chicago Metro Area Read More...
IN COOK COUNTY IL, Are Real Estate Tax Appeals Often Fruitful?
ONLY A SMALL PERCENTAGE OF CHICAGO AREA HOMEOWNERS APPEAL THEIR PROPERTY TAXES - A SIZABLE PORTION ACTUALLY RECEIVE REDUCTIONS! Cook County IL Tax Assessments! Homeowners here in the Chicago Area FUME when they receive their bills, especially each Fall, Read More...
IN CHICAGO, Average House Still Out of Reach For Many!
ANNUAL INCOME NEEDED TO PURCHASE A MEDIAN-PRICED HOME HERE - $62,000 - PAYCHECK TO PAYCHECK STUDY! The Chicago Real Estate Market has struggled over the last couple of years, as it has elsewhere. So NOW is the time to pick up the "Bargain of the Read More...
RENOVATING AN OLDER HOME? U.S. EPA NEW LEAD PAINT LAW ADDS NEW WORK, TESTING STANDARDS!
NEW LAW, EFFECTIVE APRIL 22ND, REQUIRES CONTRACTOR CERTIFICATION, ADDITIONAL TESTING FOR HOMES LIKELY PAINTED WITH LEAD-BASED PRODUCTS! Here in Chicago and in nearby Chicago Suburbs , hundreds, if not thousands, of single-family homes, condominiums, townhouses, Read More...
DOWNTOWN CHICAGO: Condo Bargains Galore . . . But, Too Often, It's Difficult to Finance Them!
HUGE CONDO BUILDING CRAZE IN DOWNTOWN CHICAGO, THE LOOP LEAVES MASSIVE INVENTORY OVERSUPPLY. DEEP DISCOUNTS FOLLOWED! Condos, condos everywhere. Often priced for a song, or just slightly higher. That's the environment in many new Downtown Chicago Read More...
LONGER UNEMPLOYMENT BENEFITS - Could They Actually Be Stalling Recovery?
IN IL, BENEFITS EXTEND TO 99 WEEKS! ARE SOME UNEMPLOYED BECOMING COMPLACENT? Few would dispute the notion that high unemployment is dampening the Real Estate Market Recovery , here in Chicago and elsewhere. As we like to tell our clients, if today is Read More...
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