Chicago IL Market Statistics Update - June 30, 2008 - 06/30/08 10:58 AM
Good Morning, AR! 
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 29, 2008 -
While Active Listings and Sales Pending remained fairly stable within the past week, we are encouraged by considerable improvements in Average Market Time, Transactions Closed, and Closed Volume - these figures based on properties that went under contract several weeks ago, and are just now closing.
The dip in Average Sales Price might indicate many successful sellers are beginning to realize pricing correctly is the best predictor of a timely sale. 
Absorption Rate, or average inventory turnover, fell … (2 comments)

CHICAGO AREA HOME SALES DOWN 29% SINCE MAY, 2007 - But Is Trend Reversing? - 06/29/08 07:28 AM
Enjoy your Sunday, AR!
Is the Chicago Real Estate picture beginning to brighten?  Perhaps . . . but, not so fast!
For the one-year period between May, 2007 and last month, home sales in the Chicago Metro Area and a few surrounding counties - Cook, Lake, DuPage, Will, McHenry, Grundy, Kendall, DeKalb, and Kane - are off nearly 30%.  However, the median home and condo price in the Chicago Region is about the same - shedding only 0.5% in the last year, to $251,000.
However, between April and May, 2008, sales actually INCREASED 17.3%!
Illinois sales, outside of the Chicago Metro … (0 comments)

WEB SURFING AT 30,000 FEET - American Airlines Tests In-Flight Internet Connectivity! - 06/28/08 05:46 PM
You knew this one was coming!
In-Flight Web Surfing will soon become a reality, as American Airlines this week tested the service on board one New York-Los Angeles flight.
The service, developed with American's Technology Partner, Aircell LLC, places three wireless access points around the airplane, to assure even coverage for every passenger.  Last week's test was a pre-cursor to a broader web offering to passengers flying between New York and Los Angeles, San Francisco, and Miami, very soon.
Connecting in-flight will cost between $9.95 and $12.95, depending on the length of the flight.  Web sites will not be filtered - … (2 comments)

THIS WEEK, FED ENDED STRING OF RATE CUTS - No Immediate Impact on Mortgage Interest Rates! - 06/28/08 02:55 PM
Hope you're enjoying the weekend, folks!
As you know, this week marked a change in behavior for the Federal Reserve Board.  On Wednesday, after their two-day Federal Open Market Committee meeting, they announced their benchmark Fed Funds Rate will remain unchanged, at its current 2.0% level. 
This was the first non-action in rates since last September.  At that point, to stimulate the housing sector, and make business loans more affordable, they began to reduce the benchmark rate, and have done so for subsequent Committee meetings until this month.
Their action - or, this time - inaction, points up the lack of … (0 comments)

Lil' Buddy's Blog: Finding a Good Donut in Chicago - It's Pretty Tough! - 06/27/08 08:54 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hello, you AR Dogs!  How are things going where you are?
I'm headed out of town this weekend - off to Minnesota, via Iowa, to check in on all my four-pawed and two-pawed friends - I'll be there to lend a paw as they recover from the devastating floods of the last week or so.
I'll keep in touch from the road, though - expect another usually-insightful Lil' Buddy's Blog next Friday morning.  Same time, same url!
Italian Beef.  Chicago-Style Red … (0 comments)

ILLINOIS ATTORNEY GENERAL SUES COUNTRYWIDE HOME LOANS - Deceptive Conduct in Lending Practices Alleged! - 06/26/08 09:04 PM
The drumbeat of trouble goes on for Countrywide Home Loans - the lender alleged to be at the center of many high-leverage, poorly-scrutinized, now-defaulting home mortgages. 
Wednesday, June 25th, Lisa Madigan, the Attorney General of Illinois, filed suit against the company.  The Attorney General of California filed their state's own suit later the same day. 
The suit also names Full Spectrum Lending, Countrywide's sub-prime lending division, as well as the firm's servicing unit, and their co-founder Angelo Mozilo. 
While Attorney General Madigan acknowledged that a number of sub-prime lenders were making similarly risky loans to those unlikely to comply with repayment … (3 comments)

POST-CLOSE POSSESSION - Do You Use It? - 06/26/08 08:43 PM
Hey, folks - want your opinion on something, and would like to see if you use it.
Here in Chicago, I have found that negotiating a contract for sale, on behalf of my Listing Clients, with a few days to perhaps a month of post-close possession in their old house or condo often works wonders!
Sellers hesitant to list until they find new place see post-close possession as a way to ensure they will not have to move twice. 
Those who need the funds from their sale in order to unfreeze their equity to buy a new home (most sellers these … (5 comments)

HOME PRICE INDEX FALLS - But Not So Bad Here in Chicago! - 06/25/08 09:51 AM
Today's Wall Street Journal Page One story is ominous!
Home Prices Fall Nationwide.  Consumer Confidence Sinks.  And Most Potential Home Buyers Still Wait on the Sidelines!
Here in Chicago, the negative drumbeat isn't as loud.  According to the latest Standard & Poors Case-Shiller Home Price Index, just completed providing April statistics, the average home price in the Chicago IL Metro Market declined 9.3% for the year ending in April, 2008.  There was actually a slight (0.1%) improvement to the index here in April.
Across the country, according to statistics compiled by Standard & Poors, in their Case-Shiller Index of Home Prices, … (1 comments)

FACING FORECLOSURE? According to Website, "Just Walk Away!" - 06/25/08 08:54 AM
Good Morning, Everyone!
The angst, the turmoil, the depression of those facing possible foreclosure has, supposedly, just gotten easier.  One option - "Just Walk Away!"
Started in California, and geared at homeowners who owe more than their home is worth, YouWalkAway.com provides a "do it yourself" kit to plan walking away from your over-leveraged home.  For a $995 Fee, the company will hook you up with a licensed attorney, knowledgeable in foreclosure laws in your state, plus provide written tips and unlimited staff help to help you simply pick up and leave your property.
Some state laws prevent your lender for … (4 comments)

Chicago IL Market Statistics Update - June 23, 2008 - 06/23/08 10:27 AM
Good Morning, AR! 
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 22, 2008 -
The mid-month Sales Pending and Transactions Closed statistics had a positive jump from last week, when both indicators showed declines.
Average Sales Price dropped slightly, as while total volume increased somewhat, reflecting the bounce back last week in Closed Sales.  Average Market Time is still too high!
Absorption Rate, or average inventory turnover, surprisingly increased another 1.5% this past week - unexpected, given the jump in Pending Sales and Closed Sales.  The theoretical level of home inventory in the … (0 comments)

DAYS OF SELLER CONTRIBUTIONS TO BUYER'S DOWN PAYMENTS ON FHA LOANS MAY BE NUMBERED! - 06/22/08 04:38 PM
FHA Loans! 
Their proponents say their the answer to many prospective buyers with low down payment and blemished credit.  Until last year, many would have opted for higher-risk, high-leverage sub-prime loans, complete with potentially-dangerous rate resists, high interest rates, and low potential for building equity.
FHA loans are fixed, at competitive interest rates.  Closing costs can be covered by the seller if the buyer in low on funds, and the Mortgage Insurance Premium can be added to and financed with the loan. 
Others are concerned that the FHA requirements, meant to help insure the loan will not default, will keep away … (2 comments)

FOR NEW HOME BUILDERS, Many Buyer Incentives Losing Effectiveness! So, Let's Party! - 06/22/08 04:02 PM
Hope you've taken the day off today - it's beautiful here in Chicago.  Hope the First Official Weekend of Summer is nice where you are!
We all know builders of new homes have taken it on the chin within the past twelve months or so.  In many markets, in newly-built subdivisions across the U.S., sales are off over 50 percent.  Homes have been discounted deeply in order to sell.  And, to incentives fickle buyers, many builders have included new HDTV's, expensive vacations, pre-paid house payments, even stocked school tuition accounts for the buyers' children.
Now, it seems, even these heavy incentives … (1 comments)

LOWER TRAVEL BUDGETS: HIGH PRICES, REDUCED TEAM SALES Keeps Us Closer To Home in 2008! - 06/21/08 11:03 PM
Hi, folks - are any of you in the same boat, or is this just me?
Since our Team began coaching several years ago, we were very aptly guided to block TIME OFF and VACATIONS FIRST - before business.  "You need appropriate re-charge and family time," our Business Coach Patti Kouri of Accelerated Performance Coaching always suggested.   We were scared at first, and a bit reluctant, but we followed her advice.
Each year, my wife, Sue, and I planned several vacations.  Aruba was the most exotic, but we also scheduled several business and non-business trips to the National Association of Realtors … (2 comments)

EMERALD ASH BORERS - Newly-Arrived Pest Threatens Chicago Hardwood Trees! - 06/21/08 10:41 PM
Hope you're enjoying your weekend, folks!
If you're from Chicago, or New York City, you may have heard of the Asian Longhorned Beetle.  This speckled insect, which apparently stowed away in packing materials from imported Chinese products, infested, and eventually destroyed, hundreds of trees in New York City Parks, before making its way to Chicago in 2001.
While here, the bug - actually, it's larvae, which grew after adult insects planted their eggs in many Willow, Box Elder, Poplar, Maple, Horse Chestnut, and Apple Trees throughout Chicago and the suburbs - feasted under the bark of these affected trees, eventually killing … (2 comments)

Lil' Buddy's Blog: Canine Flu Confirmed in Dogs in Chicago, Suburbs! - 06/20/08 06:07 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hey, you dogs - be concerned, be careful - but don't be alarmed!   The canine flu has been confirmed here in Chicago, and may be spreading to other dogs in our area. 
It was identified a couple of weeks ago.  The owner of Buddy (no, not me - another Buddy) - a Yellow Lab, 4 years old, showed typical dog flu symptoms - lethargy, vomiting white foam, coughing - three days after coming home from a dog day care center.  He was … (4 comments)

$5.00 Per Gallon Gas Comes to Chicago! Some - A Few - Gladly Pay It! But Will They Continue to Pay? - 06/19/08 11:36 PM
Here's some cold water in the face, folks!

While many in other parts of the U.S. are belly-aching about $4.00 per gallon gas where they live, some here in Chicago have already experienced a gallon of gas for $5.00!
Well - this pricey petrol is for any grade, and at only one station we can find - in the pricey Gold Coast Neighborhood of Chicago, at a BP Station at the corner of LaSalle and Clark Streets.  And it's for FULL SERVICE gas!
You remember "Full Service Gasoline," you Boomers, don't you?
Back when the first Doobie Brothers album (in … (6 comments)

SEO? Pay Per Click? Or, Simply, "Natural Placement?" How Do You Get Your Web Presence Maximized? - 06/18/08 10:24 PM
Hi, Ho kids!  Hope all is well in AR Land!
Hey - got a question for you (or, "y'all," as my Southern Brethren might say).
As far as increasing the visibility, the stickiness, the lead generation capability of your website - which do you use, and in what proportion?
Those on our Team know enough about the power of blogging and use of key words to be a little dangerous, and, finally, after 18 months of a complete website re-design through Build Real Estate Results and Kathleen Allardyce, the hiring of Compass Internet Systems and Mike Parker for SEO, and screwing around … (10 comments)

THAT CRAZY GUY NEXT DOOR DRIVING YOU NUTS? Here are Some Options! - 06/18/08 06:29 AM
My wife, Sue, and I have been fortunate over the last few years.  We've had good neighbors!
Bob next door has every type of hand and power tool imaginable, and will even use them for you, if you need him to (a great guy to know - yes?).  The lady down the block has lived here in our South Edgebrook Neighborhood here in Chicago since 1952.  She's getting up there in years - but she still keeps an eye on everthing that happens up and down our street.
There have been times, however, when we have not been so lucky.  Growing up … (4 comments)

Chicago IL Market Statistics Update - June 16, 2008 - 06/16/08 07:46 AM
Good Morning, AR! 
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 15, 2008 -
Indicators continue to see-saw over the last few weeks - but the pattern still suggests high unsold listing inventory, low number of units pending sale, lengthy market time, moderating average sale price and still-lackluster home-sales volume.
The comparison between Listing Inventory and Properties Pending Sale continues to confound me!  The number of Listed Properties continues fairly steady, while Pending Sales and Closed Properties show large fluctuations week to week. 
Typically, sold properties are marked "Pending" on the MLS Computer only after … (0 comments)

YOU REAL ESTATE SALES PEOPLE, BROKERS! You're all Wealthy Beyond Belief, Aren't You? - 06/15/08 11:08 AM
"YOU FOLKS MAKE SO MUCH MONEY, AND WHAT WORK DO YOU DO FOR IT?"
That seems to be the prevailing attitude among the general consumer public, isn't it?
Years ago, when I was considering Real Estate as a full-time profession, one of my relatives encouraged me!  "You're an independent guy," she said.  "Every Real Estate Agent I know gets up mid-morning, has breakfast about 11 AM, hangs out with his buddies, and rakes in lots of money!  Ahhh - that's the life!"
Those of us that have been in the business in excess of about three months know that is far … (5 comments)

CHICAGO MASS TRANSIT RIDERSHIP SURGES DUE TO HIGH PRICE OF DRIVING, But Will Higher Fares Follow? - 06/15/08 10:43 AM
Happy Fathers Day, you Dads!  You're kids treated you like royalty today, took you out to a man-sized breakfast, and cut and edged the grass first thing this morning, right?
Naah - didn't think so!
All around the U.S., and here in Chicago, more and more people are increasingly conscious about the cost of a fill-up for the car today.  Here, in the city, regular gas now stands over $4.50/gallon in some places.  It is over $4.25 per gallon in the suburbs, where taxes are a bit lower.
Many are riding their bikes to work, if they can.  More, however, are … (4 comments)

NEW IL MORTGAGE RULE Forces Counseling for Certain Buyers Prior to Close! - 06/13/08 10:26 PM
The rules for home borrowers are tightening up here in Cook County IL (the county in which Chicago is located).  Specifically, certain first-time buyers, considering several "high risk" loan products, will now have to complete a counseling session before they close on their new home.
This "Cook County Predatory Database Lending Program" debuts July 1st.  It will cover, initially, only Illinois most populous county, and impact first-time buyers most directly.  But new county mortgage recording requirements will affect every single mortgage recorded, beginning next month here.
Only loans offered through Mortgage Brokers or Independent Loan Originators licensed in Illinois will have the counseling … (1 comments)

LOWBALL LOUIE - Listing Agents, How Often are YOU Seeing Him? - 06/13/08 04:46 PM
Happy Friday Afternoon, Folks!
Guess who came in to one of my listings yesterday?  Wearing an old shirt, carrying a yellow legal pad, and fingering his calulator!
You might know the guy - his name: LOWBALL LOUIE!  I hear he gets around, all over the country, and all around the world, for that matter.
He is often accompanied by his Buyer's Agent - I Hafta Do What Ever He Says IDA!  A real accomodating sort!  She always has load of clients she is carting around in that gas-unfriendly SUV she drives, but never makes any money to buy gas!
LOWBALL LOUIE … (4 comments)

Lil' Buddy's Blog - How's your STRESS LEVEL These Days? For Some, It's Causing Physical Problems! - 06/13/08 09:10 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Yesterday was "Throwback Day" at Wrigley Field!  Both the Chicago Cubs and the Atlanta ("Boston") Braves wore 1948 style uniforms.  The outcome was a lot different (as were the PRICES) - 60 years ago the Cubs were Butt Ugly.  Today, they KICK BUTT!  GO CUBS GO!
Feeling stressed?  Stressed financially, I mean.  If you are - and many, human and dog alike, are - you're definitely not alone.  And if you're not careful, stress can really hurt you!
When stressed, the … (1 comments)

REAL ESTATE MARKET PRICES BOTTOMING OUT? - Here in Chicago, Not Yet! - 06/11/08 11:22 PM
Good Evening, Folks! 
Hope you're having a pleasant night, out in Real Estate Land!  (When I'm done posting this, I'm going to catch up on an old "Honeymooners" episode on the Classic TV Station here in Chicago - Channel 23 on cable)!
There has been considerable press, both nationally and here in Chicago, that the price drops we have endured in the recent real estate crumble may be coming to an end - prices may be bottoming out, and at demand will soon pick up once again.
This one practitioner's impresssion suggests NOT QUITE YET!    I've looked at numeric statistics and … (2 comments)

UNSUNG VICTIMS OF FORECLOSURE - When Landlords Lose their Rental Property, Tenants Often Forced to Leave! - 06/10/08 03:49 PM
The news headlines are full of stories about single-family homeowners losing their homes to foreclosure.  Few stories, however, deal with the fate of renters in apartment buildings, or other rental properties, when their landlords can't pay the mortgage on the property.
Here in Chicago, according to the Harvard Joint Center for Housing Studies, an estimated 14,000 property owners lost their properties to foreclosure last year.  An estimated 20% of these foreclosures involved multi-family rental properties, large and small.
What happens to the timely-paying tenants once the bank takes over the building?  They often get the heave-ho, and are forced to leave.
Illinois law … (2 comments)

HOME EQUITY LINES OF CREDIT Far Harder to Come By Today; Lines In Place May Face Severe Curtailment! - 06/09/08 10:15 PM
One "side benefit" of the free-and-easy mortgage money of just a couple of years ago - virtually every homeowner could use their home as a piggy bank - tapping its seemingly-limitless equity for virtually any expense - necessary or fun money.  Rates were at prime or slightly higher, and banks begged you to establish your line.
Equity appreciation, they felt, were an automatic to rise forever.  Risks to the lender?  Naah!  Even if the lines went unpaid, the property against which they were collateralized were a sure bet to increase in value.
Not so anymore!
During those salad days of 2004 … (1 comments)

Chicago IL Market Statistics Update - June 9, 2008 - 06/09/08 08:55 AM
Good Morning, AR! 
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 8, 2008 -
Strong rebounds across the board this week - and that is encouraging!
Listing Inventory was stable over the past week, while Properties Pending Sale jumped sharply - over 26%!.  The Average Sales Price for Single Family, Condos, and Small Investment Apartment Buildings - two-four units - rebounded as well, although the average was down considerably last week. Average Market Time continues high.
The number of Sold Properties and Expired Property Listings increased for the second week, even though it is … (1 comments)

Google Maps to Offer CTA Option in Chicago, Similar Routing Options in Other Cities! - 06/08/08 12:07 PM
Technology, Technology!  It's daily, sometimes minute-to-minute, advances never fail to amaze this Boomer!
Presently, Google Maps Software, available for most Internet-Enabled Mobile Phones, provides maps and driving directions between two points, anywhere in the U.S.
Soon, in Chicago and in many other cities, it will also offer routing via public transit!
For example, let's say you're at Wrigley Field, enjoying a Chicago Cubs game (assuming they're winning).  You want to go to dinner in the Lincoln Square Neighborhood of Chicago.  Which buses to take?
Google Maps will soon offer a transit routing option, in addition to the driving option, to get … (3 comments)

MORTGAGE DELINQUENCIES, FORECLOSURES HIT 29-YEAR HIGH! - 06/08/08 11:55 AM
Just when you were hoping for some good news in the real estate market, you hit the web, and find more distressing news.
Across the U.S. nearly 10% of homeowners fell behind on their mortgage payments during the First Quarter of this year!  This comes from statistics compiled by the Mortgage Bankers Association, and released last Thursday.
Recent drops in home value, here in Chicago and elsewhere, have left many homeowners owing more on their mortgages than their house is worth.  This is especially true for those who borrowed with high leverage within the past few years.
Here are some of … (1 comments)

ATM FEES INCREASE AGAIN IN CHICAGO! (You Don't Look Too Surprised!) - 06/06/08 02:44 PM
Add this to the growing list of prices going up in Chicago - fees for using a Bank of America ATM, if you don't happen to have a linked checking or savings account in the B of A!
What?  You're not shocked?  Perhaps you're just NUMB!
Effective Monday, June 23rd, the fee charged by banking kingpin Bank of America, for non-customers usting their ATM machines, will increase a hefty 50% - from the current $2/transaction, to $3!  Bank of America has over 18,000 ATM machines across the country.  They are now the second-largest bank network in the Chicago area, since they … (2 comments)

Lil' Buddy's Blog - Chicago Among Four Finalists for 2016 Olympic Games! - 06/06/08 10:08 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Is it morning already?   Man, these late-night West Coast Cub Games are really draining this little dog - stayed up last night til almost 1:00AM, watching baseball, and drinking a wee bit of Old Style Beer (don't tell Dean, my Human Dad).  Good news, though - again, THE CUBS WON - beating the LA Dodgers, in a close one!
Good news on another sporting front - the City of Chicago is among 4 international finalists for the 2016 Summer Olympic Games!    If … (1 comments)

LISTED HOME NOT SELLING? Renting It May Be The Answer - But Not Without Risk, and Added Responsibility! - 06/05/08 07:41 PM
As Chicago inventory levels remain stubbornly high, and days on market increase for homes and condos, many home and condo owners are seriously considering renting out their property short-term.  Most say they would then sell it later on, when the currently-sluggish real estate market here improves.
The problem is especially acute for those who have already moved from their home, and the home or condo now lies vacant.
Is that a good idea?  Perhaps, for some!  But not without potential consequences, and added responsibility.
Here is the obvious - rent payments will offset a homeowner's monthly mortgage payment on their old, … (1 comments)

THE CHICAGO SPIRE - 150-Story High-End Condo Project on Chicago Lakefront - Likely to Proceed! - 06/04/08 03:43 PM
I just wanted to warm the cockles of your heart a little bit!

Even in this historically-weak Chicago Real Estate Market, marked by high inventory and extended market times, an ultra-luxury condominium project, proposed close to where the Chicago River meets Lake Michigan, is enjoying strong sales.
The Chicago Spire, a 150-story, 2,000 foot steel structure, designed by famed Spanish architect Santiago Calatrava, which will resemble an upright drill but when completed, has sold 352 of its 1,194 units, according to The Shelbourne Group, the project's Ireland-based developer. (Artist's Rendering from Wikipedia.com)
As a rule of thumb, crossing the 30% of units … (2 comments)

WORDS OF WICKMAN - "Adversity Breeds Success!" - 06/04/08 12:34 AM
Hope you're had a good evening, folks. 
As I write this blog post, I am watching our Chicago Cubs play, and hopefully defeat, the San Diego Padres via my Sling Box inset over in the right hand corner of my laptop screen.  What a cool, high-tech little device - especially for a True Fan, like me!
2008 has been a comparatively tough year for our Team, as well as several other Top Producing agents and Real Estate Teams here at our Keller Williams Office in the Lincoln Square Neighborhood on the North Side of Chicago.
We've had less business year-over-year.  Deals have unexpectedly … (1 comments)

HSBC - Last Remaining Major Sub-Prime Lender - Tightens Standards, Promotes Loan Restructures, Modifications! - 06/03/08 11:53 PM
Within the past year, dozens of sub-prime lenders - those catering primarily to potential borrowers with lower credit scores, low down payments, and undocumented income - have bitten the dust.  First Franklin, WMC, New Century Bank, and on, and on!
Even Countrywide Home Loans had to face acquisition by banking giant Bank of America, to avoid possible financial ruin.
But HSBC is still here - although they have been beaten around a bit!
The London UK-based HSBC Holdings made a profit worldwide in 2007.  Here in the U.S. however, HSBC Finance suffered nearly $3.2 Billion in write-downs last year.  The domestic … (0 comments)

Chicago IL Market Statistics Update - June 2, 2008 - 06/02/08 07:59 AM
Good Morning, AR! 
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 1, 2008 -
Several things about this weeks' numbers concern us!
Listing Inventory, over the past few weeks, has remained high.  At the same time, Properties Pending Sale is still, over many weeks, low.  The Average Sales Price for Single Family, Condos, and Small Investment Apartment Buildings - two-four units - has been on a downward trend since the beginning of the year, while Average Market Time remains high as well, although it fell nearly 11 percent versus last week.
The number of Sold Properties and … (4 comments)

CHICAGO FIRST-TIME HOME BUYERS, No Longer Pressured to Make A Quick Purchase Decision, "Wait it Out"! - 06/01/08 08:29 PM
Hope you're having a relaxing Sunday Evening!  Mild weather has finally returned to Chicago for more than a day or two - we all hope it has come to stay for a while.
Being in the Real Estate Business, you might think that first-time buyers would be banging down the doors to buy their first home at prices far more reasonable than in recent years around Chicago and the suburbs.
That's not the case, however!
Many buyers are still waiting - thinking prices will go down even further, and the bottom of the market is still months away.  (They read the … (1 comments)

 
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Dean Moss - Dean's Team Chicago IL Real Estate Team

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