If anyone needed any confirmation about just how bad it is out there in the last few months of 2010, the Appraisal Research Counselors is just out with the gruesome fourth quarter downtown new construction sales numbers. 2010 shaped up to be one for the record books- with a record low number of new construction condo sales. […]
The Chicago Tribune interviewed former Bears tight end Emery Moorehead, who has been a realtor on the North Shore since the mid-1980s. There is a lot of inventory in the upper bracket and we’ve chattered about reductions on million dollar properties in Chicago numerous times but the North Shore has even more inventory. According to […]
As predicted, sales continued to slide year over year into the end of the year with no tax credit or other incentives to get buyers off the couch. Median price also continued to fall. From the Illinois Association of Realtors: December home sales (single family and condominiums) for the city of Chicago totaled 1,444 sales, […]
We’ve chattered several times about this 5-bedroom renovated vintage house at 1722 N. North Park in Old Town over the last 18 months. See our October 2010 chatter here. Originally listed for $2.3 million in June 2009, we watched the price fall, and fall, and fall again. Still there was no sale. Located in a […]
There’s been no slowdown in the foreclosure wave that has swept the entire Chicagoland area in the last few years. “According to RealtyTrac, the online marketplace for foreclosure properties, 45,555 homes became bank-owned last year in the area between the Wisconsin border and northwest Indiana. Also during the year, mortgage servicers filed 83,429 initial notices […]
Crain’s is reporting that Mesirow, which holds the remaining units still for sale at 659 W. Randolph, in the West Loop, is trying to sell them to a non-profit group. From Crain’s: The real estate unit of the Chicago-based firm wants to convert 19 unsold condos in the building at 659 W. Randolph St. into […]
According to the Sun-Times, the year end projections are showing 51,900 new foreclosure suits filed in Cook County Circuit Court in 2010. The clerk won’t have the actual official number until the middle of January. But it will apparently be among the highest on record. 2000-2005: averaged 12,000 to 15,000 annually 2006: 18,916 2007: 32,269 2008: […]
We’ve never had a post on Crib Chatter where we’ve actually debated when the “bottom” will get here. So we must be closer to it than any other time in the last 3 years since it’s now being discussed. I’ve seen some housing analysts predicting a bottoming in prices, nationally, by the summer. But that was before […]
I get at least one e-mail a week from people with tips on properties that were bought from the bank, have been “renovated” (with various different definitions of this word), and are now being resold. This is different from a “flip” which means that there was nothing done to the property from one sale to the next. […]