The Chicago Tribune discusses the fate of Chicago area home prices now that the government stimulus has come to an end. Now that the government tax giveaway has ended, watch for the market to level off or dip through the summer. A housing recovery depends on the economy bouncing back, and by most forecasts the buying and […]
We’ve chattered about a bunch of flippers recently who have been buying foreclosed condos and single family homes on the cheap and then attempting to flip them (sometimes without any renovations.) Some have been successful, some have not yet sold. But now there is apparently a new breed of flipper: the luxury condo flipper. Crain’s […]
All the housing blogs are talking about this article in the Chicago Tribune discussing unintentional landlords. When Ed Amaya put his Oak Park bungalow up for sale in mid-2007, homes in his neighborhood sold in a matter of days, weeks at the most. We had some showings; got close to a deal,” recalled Amaya. But as […]
First American CoreLogic just released its first quarter report on negative equity in the United States. The Chicago market has more homeowners underwater than you would think (and I don’t know if this means Chicago, the city, or the entire Chicagoland area.) The metropolitan markets with the most underwater home owners in first quarter were: […]
The March sales data is out from the Illinois Association of Realtors. Chicago saw year over year sales gains for the 7th straight month but median prices continued to slide. In the city of Chicago, March total home sales (single-family and condominiums) were up 49.7 percent to 1,814 sales compared to 1,212 homes sold in […]
RealtyTrac released the March nationwide foreclosure numbers yesterday and Illinois came in 10th in the nation for foreclosures in March and 9th in the nation for the first quarter. March actually saw an 8% decrease year over year in the number of foreclosures, the first such year over year decrease since November 2008. Before breaking […]
The DePaul Institute for Housing Studies released an interesting report on April 7 on the health of the multifamily housing market in Cook County. Here are some highlights: Prices of large (7+ unit) rentals in Cook County have declined 26% from the third quarter of 2006 to the second quarter of 2009. Prices of small […]
The Illinois Association of Realtors just released the February home sales numbers (as someone posted to yesterday in the comments- so thanks for the reminder.) Once again, Chicago home sales jumped sharply as compared to February 2009 sales while median price fell again. In the city of Chicago, February total home sales (single-family and condominiums) […]
Crain’s reported yesterday that a foreclosure suit has been filed on the Silver Tower, the new construction high rise at 303 W. Ohio in River North. From Crain’s: Bank of America has filed a $40-million foreclosure lawsuit on a 225-unit River North condominium project in what could be a preview for other slow-selling downtown high-rises. The developer […]