Chicago Homes for Sale by Dean's Team

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.  The sheer number has brought down price medians in many Chicago Neighborhoods and ...

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 they?   Likely, they could easily sell their homes at a small to ...

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 5% level for 30-year Fixed Rate Loans.  Some rates hug 4 5/8%! Even with the low ...

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 to buy a home.  Often, however, the task of financing a condominium or townhome in ...

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 - " If it's Friday, and folks are worried whether they will have a job come Monday, ...

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 of Chicago, median home prices in April jumped 3.2%, versus April, 2009.  According ...

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 Chicago and elsewhere, into the doldrums? One measuring stick, the number of ...

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 is "most improved" among the 50 Top U.S. Metro Areas during the Fourth Quarter, ...

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, when the oft-larger second of two semi-annual installments become due. The Cook County ...

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 Century," right? Well, not for everyone, it seems!  Especially those who earn ...