Maybe the New York Times has been reading this blog because today it is talking about what to expect from housing over the next few years and decades- a topic we’ve been bandying about recently: “There is no iron law that real estate must appreciate,” said Stan Humphries, chief economist for the real estate site […]
We have only briefly chattered about any properties in the Back of the Yards neighborhood which is not far from downtown on the Southwest side. But like other city neighborhoods, it is seeing its cases of foreclosures. With the foreclosures, however, has come a new breed- the mortgage fraudsters. Reuters UK shows just how easy […]
Nearly everyone has heard the tv and radio advertisements for the new construction luxury high rise at 2520 N. Lakeview in Lincoln Park over the last several years. Left for dead, Crain’s and other news outlets are reporting that the development has found financing and construction will move forward. A development venture backed by the General […]
Appraisal Research is out with the numbers for new construction downtown condo and townhouse sales in the second quarter. Sales have fallen 52% compared to a year ago but have also declined sharply compared to the first quarter of 2010. Second quarter 2010: 150 sales Second quarter 2009: 313 sales First quarter 2010: 256 sales From […]
RealtyTrac just released data on Illinois foreclosures for July. Statewide, foreclosures were up 35% to 19,602, the highest jump in the nation. However, last year, Illinois apparently had a 90-day grace period where there could be no foreclosure (which has since expired) so this messed with the 2009 numbers. 1 in every 269 housing units […]
Normally, we don’t chatter much about what is going on in the suburbs but someone sent me this article from the New York Times examining the increase in foreclosures in Lake Forest and I thought it was worthy of discussion about the upper end of the market, in general. You know what they say- if […]
We’ve been chattering about what percentage of sales are distressed sales (i.e. foreclosures and short sales) compared to the overall number. The Cook County Assessor’s Office recently completed research of the first quarter of 2010. From the Tribune: “The market is still having problems,” said Fran Lefor, a senior research analyst at the assessor’s office. […]
We’ve been chattering for awhile about the foreclosures and short sales in the South Loop. The Chicago Journal reports that foreclosures have jumped 54% in the South Loop in the first six months of 2010. When Mohammad Valadan first starting hearing about the South Loop in the media several years ago, it was described as […]
Someone sent me an article from last week on the Real Estate Channel discussing the foreclosure market in Cook County. It has some interesting statistics. It appears that these stats are for the entire Cook County: As of July 15, RealtyTrac listed 28,829 properties which had been foreclosed and repossessed by lenders. Some have been […]
According to the Chicago Tribune, the Belmont Cragin neighborhood, and others on the North and Northwest Sides, have been cut off from federal funding to help stop the spread of foreclosures because they were not hit as hard at the beginning of the crisis by subprime defaults, as other city neighborhoods were. The West and South […]