Chicago IL Market Statistics Update - November 23, 2009 - 11/23/09 07:31 AM
Good Morning!
Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, November 22nd 
Stability seems to be the key in most indicator numbers this week.  In the North and Northwest Side of Chicago Neighborhoods we frequently serve,  Active Listings Inventory showed little change.  Pending Sales fell - predictable as the Thanksgiving Holiday approaches. 
Average Sales Price and Average Market Time held about steady, while Sales Volume gave back last week's gain, and a little bit more.   Units Sold figures were flat, while and Listings Expired jumped - perhaps, by design, as the holidays approach. 
Absorption Rate - the theoretical time to clear … (0 comments)

WILL NEW FHA CONDO RULES Help Stimulate Condo Market? - 11/23/09 12:08 AM
It wasn't all that long ago that Condo Buyers here in Chicago, and across the U.S., had many financing options available.  As recently as a couple of years ago, buyers with marginal credit could put low - or, sometimes, no money down.   Stated income and piggyback loans prevailed.
For those with less than the customary 20% down payment, financing using funds backed by FHA, with its myriad of rules for approval, was a less attractive option.
Today, however, condo buyers have far fewer options.  Perhaps, no options if they have somewhat blemished credit, and little down payment.  Other than FHA Financing.
FHA … (0 comments)

GAINING SHORT SALE APPROVAL! A Win-Win Solution? Or, Just Another Game? - 11/22/09 08:50 PM
Good Sunday Evening from Chicago, folks!
No matter where you live, or where you work, Short Sale Properties are as much a fact of like for those working or buying Real Estate as the U.S. Economic Recession itself.
A couple of years ago, one of our former Team Members, frustrated with a bank disapproval after a lengthy wait, swore them off completely.  Her Listing Client ended up in foreclosure, losing his house, after her seemingly-patient buyer, then another, each got tired of waiting - nearly five months after the original contract was signed by the distressed seller.
These days, ignoring the … (0 comments)

This Weekend in Chicago - November 21-22 - The Chicago Holiday Season Begins! - 11/21/09 11:12 PM
The Holidays will be here before you know it!  In Downtown Chicago, on The Michigan Avenue Magnificent Mile, the celebration started today!
Our Team Member Sue Moss provides a rundown, and also outlines Thanksgiving Week Activities here in Chicago.
The City of Chicago rang in the start of the Holiday season today with the 18th Annual Magnificent Mile Lights Festival on Michigan Avenue between Oak Street and Wacker Drive.
If you have never attended this event before, it's a full day of fun activities with live music from 11:00 a.m. to 4:00 p.m. at the Harris Stage.  Mitchel Musso, co-star on … (0 comments)

Chicago Neighborhood News - November 20, 2009 - 11/21/09 11:01 PM
Good Evening from Chicago, folks!
In this week's edition of Chicago Neighborhood News, our Team Member Cathy Mallers covers the Chicago Neighborhoods of Lincoln Park, Lakeview, Old Town, and The West Loop, as well as the Chicago Suburb of Naperville IL.
Any special holiday plans, parties, or events you would like Dean's Team to help you publicize?  Let us know - we'll gladly help spread the word.  Our Team offers the Number One Related Active Rain Blog in the City of Chicago.
LINCOLN PARK
You know, breakfast really is the most important meal of the day.  Why not enjoy it with … (1 comments)

Lil' Buddy's Blog - Oprah Winfrey! Will She Leave Chicago? - 11/21/09 10:47 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hey, hey you dogs!  Sorry for the delayed post this week - things seemed to get too carried away in my Posting Pen this week.  But I'm back now, and ready to type!  Thanks for Keeping the Faith!
Oprah Winfrey! 
She's saying she'll be ending production of her world-renown show in 2011.  Leaving Chicago?  Well, that's not known for sure yet.  But if she did, it's likely to leave a big hole in the city, and in the West Side of … (0 comments)

Chicago IL Market Statistics Update - November 16, 2009 - 11/21/09 08:08 PM
Good Evening!
Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, November 15th. 
This past week has seen continuing stability in the Housing Market in the North and Northwest Side of Chicago Neighborhoods we serve with great frequency.  Active Listings Inventor showed little change.  Pending Sales - about the same versus last week. 
Average Sales Price is up, however, as is, unfortunately, Average Market Time.  Sales Volume rebounded a bit over last week.   Units Sold and Listings Expired - generally, steady! 
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, ticked up a very slight amount- … (2 comments)

DRIVING A CAR IN CHICAGO? Better Have a Driver's License! Common Sense? You Would Think So, But . . . - 11/21/09 07:27 PM
Folks, it seems pretty obvious that if you want drive an automobile - anywhere - you better have a valid Driver's License.  Duhhhhh!
But here, in Chicago, as reported in the Chicago Tribune by John Byrne, 22,904 tickets were issued in the city for driving without a valid Driver's License. 
And some of these unlicensed drivers have caused serious, if not fatal, traffic accidents.  One such driver without a license, James Cox, was cited for a traffic accident which resulted in the death of a 27-year-old pregnant woman on the West Side of Chicago in October.  Records show Cox was cited 12 … (2 comments)

NEW HOME MORTGAGES TUMBLE, While Re-Fi's Surge! - 11/21/09 06:59 PM
Years ago - many years ago - say, back in the early 1990's, Real Estate Prognosticators predicted a surge in homebuying interest if only mortgage rates fell.  They did, and the market climbed!
The broken threshold they were hoping for - 10% - came in 1991, when interest rates for a 30-Year Fixed Rate Home Loan fell to only 9.9%.  At that time, 18 years ago, many potential homebuyers reached for their check books (they still used "Check Books" back then), grabbed the Sunday Paper (folks still read Sunday Papers back then - there was scarcely an Internet), and  hit the … (2 comments)

NEW FED INCENTIVE TO CURRENT HOMEOWNERS Could Help Housing Market Recovery in Early '10! - 11/21/09 06:33 PM
Hey, gang, from Chicago!
The rumors of my demise have been greatly exaggerated!  I'm still here, and still posting - just getting back into the swing of things after a fun filled week of training and mentoring others here at our Keller Williams Market Center, in the Lincoln Square Neighborhood on the North Side of Chicago.
Now that the week is over, our Printing Press is back in business - as is the lil' press of Famous Blogging Doggie, Buddy Holly Moss, with his post coming soon!  Thanks for your patience, folks - please, stay tuned, and Keep The Faith!  OK?
… (0 comments)

IN CHICAGO, The Snow Must be Removed - Or, Politicians May Pay The Price! - 11/16/09 10:27 AM
Chicago - my home town!  A strange and wondrous place!
That's especially true each winter, where seemingly-never-ending snows could lead to traffic turmoil, ungodly travel times, or perhaps imprisonment in your own detached garage!
Over the years, Mayoral Elections here have been won or lost on the basis of how effectively streets are plowed.  Many of us older Chicago Residents remember back to the storied Blizzard of 1967, which kept all of our roads blocked for days afterward, prompting a Snow Ordinance Revolution from then Mayor Richard J. Daley - the "Old Man", and our current mayor's father.
Twelve years later, … (3 comments)

AFTER HOME BUYER CREDIT ENDS - What Will Happen to the Real Estate Market? - 11/15/09 10:23 PM
Rejoice!  Rejoice! 
The First Time Homebuyer Tax Credit has not only been extended until next year - it has been EXPANDED to include certain current homeowners as well.
To date, the National Association of Realtors estimates 1.8 Million Homebuyers have taken advantage of the program.  Many more are likely to until the extended purchase deadline - next April 30th.  By now, you've read all of the details on the program extension and expansion.  We wrote about it the day it happened, via BlogChicagoHomes.com.
The stimulus is incredible - the $8,000 First Time Buyer Credit Continues.  Plus, there is a new, separate … (4 comments)

This Weekend in Chicago - Those "In Between" Days, Not Quite Christmas! - 11/14/09 12:02 AM
Good Evening, folks! 
As my Down Home Texan Blooging Friends might say, "Howdy" from Chicago!
Halloween is over, the kids are long back in school, and it's just shy of a couple of weeks before Thanksgiving.  A bit early for Christmas Cheer . . . but that doesn't mean there aren't lots of things going on in Chicago this weekend.
Here is a partial rundown, from our Team Member, Sue Moss -
In charge of bringing the wine this Holiday Season and haven't got a clue?  Well you're in luck.  This Saturday from 1:00 p.m. to 5:00 p.m., Navy Pier will … (0 comments)

Chicago Neighborhood News - November 13, 2009 - 11/13/09 11:50 PM
Congrats!
It looks as if those of us in Chicago survived another Friday the 13th - the third such Friday of 2009!  But, today, from our office in the Lincoln Square Neighborhood of Chicago, I did notice a few people deliberately avoiding walking under ladders, or crossing the street swiftly in advance of the occasional black cat.
But . . . we all made it!
Here is this week's edition of Chicago Neighborhood News, from our Team Member Cathy Mallers.  This week, Cathy covers the Chicago Neighborhoods of Norwood Park, Lakeview, The West Loop, and The Gold Coast, as well as … (0 comments)

Lil' Buddy's Blog - Famed Chicago News Anchors Jacobson and Kurtis to Re-Unite . . . But Just for One Night! - 11/12/09 11:10 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Aaahh . . . those wistful summer days hangin' out with my Human Dad, Team Leader, Dean.  Those days are now gone for a while - it's about 38 degrees here tonight - down right chilly, even with our fur, you dogs!
Perhaps you lived here in Chicago in the 1970's and 1980's.  Back then - about 100 dogs years ago - two anchors were the kings of local news.  Anchors Bill Curtis and Walter Jacobson co-chaired the WBBM CBS 2 … (5 comments)

In Chicago, Across Illinois, Foreclosures Skyrocket in September, Bucking National Trend! - 11/12/09 10:31 PM
Nationwide, New Foreclosures on Residential Property fell for the third consecutive month in October.  But, in Illinois, especially in Cook County - the county in which the City of Chicago is located - bucks the trend.
According to CA-Based RealtyTrac.com, as reported in today's USA Today by reporter Paul Wiseman nearly 330,000 homes were at some stage of the foreclosure process last month.  That's a drop of 3% versus September, but up 19% since October, 2008.  Across the U.S., statistically, 1 in 385 homes were in foreclosure.
IL, however, ran counter to the trend.  In October, foreclosures in Illinois increased a staggering 56% versus … (0 comments)

Chicago IL Market Statistics Update - November 9, 2009 - 11/11/09 11:22 PM
Good Evening!
For the last few weeks, Active Listings Inventory in the North and Northwest Side Neighborhoods we serve in the City of Chicago has remained nearly flat - less than 4,000 units.  This week, properties Pending Sale have trended downward - perhaps with the cooler season. 
Average Sales Price and Average Market Time - also stable, generally.  Sales Volume, predictably, fell this week, in the middle of the month.   Units Sold and Listings Expired each fell last week - also usual for mid-month. 
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, fell once again last week - it is now just over 9.6 months.  Very Encouraging. 
… (0 comments)

A BOX OF LETTERS - The Story of One Very Special Veteran! - 11/11/09 06:58 PM
Hope you're doing well today!
I was planning a special Veteran's Day Post, and had a bit of writer's block.
But I got a lot of positive comments on one we did last Veteran's Day, about one very special veteran of World War II.
He was my father.
May I share with you once again?
FROM A VETERAN - A Box of Letters!
Good Morning Folks! 
It's Veterans Day - did you remember?  The World War I Armistice was signed on the 11th day, of the 11th month, at the 11th hour.  The War to End All Wars - wasn't!
May … (4 comments)

IS THIS RIGHT? CHICAGO AREA DRIVERS RISK TICKETING For Having GPS Systems, Other Windshield Obstructions! - 11/11/09 09:08 AM
Is this a case of diligent police officers doing their job?  Or, are the cops just getting carried away - and IL Municipalities just seeking more revenue?
Or . . . is the motive even a bit sinister?
According to Dan Simmons, as reported in last Sunday's Chicago Tribune, within the last five years, the number of IL drivers stopped by police for breaking the obscure, somewhat subjective law prohibiting "Windshield Obstructions" has increased 91%.  In 2009, roughly 38,000 motorists are expected to receive warnings or citations.
A few police officers defend the law, saying its enforcement makes driving safer.   According … (0 comments)

Is THE GREAT RECESSION For U.S. Housing Nearly Over? Hmmmm . . . Don't Know! - 11/09/09 12:55 AM
Chicago - Have you survived The Great Recession?  Do you still have a job?  A home?  A little money for the family?
Survival itself is not an insignificant feat!
Last month, U.S. Unemployment shot up to a 26-year-high of 10.25%.  Here in the Midwest, workers have absorbed roughly half of job losses nationwide, as many communities still depend on the manufacturing sector for their livelihood.
Housing starts nationwide are more than 60% off their highs of just a few years ago.  Here in Chicago, the prices of many single family homes and condos have fallen by 25% or more over the … (1 comments)

FANNIE MAY OFFERS LIFE LINE TO SOME OWNERS IN DISTRESS - A One Year Lease Option, Rather Than Foreclosure! - 11/09/09 12:24 AM
Inundated by thousands of homeowners on the brink of losing their homes to foreclosure, giant U.S. Mortgage Investor and Guarantor Fannie Mae has created a program that will allow many of those who face losing their home the opportunity to lease them for up to one year.  For most distressed homeowners, that's a far better option than being evicted.
As reported by Nick Timiraos in last Thursday's Wall Street Journal, the new Fannie Mae Deed for Lease Program began last week.   It allows the former homeowners, now tenants, to pay a market rent to lease their home for up to twelve … (2 comments)

AN EXIT PLAN FOR INDEPENDENT CONTRACTORS! Do You Have One? - 11/08/09 08:24 PM
Hey from Chicago - home of those Hapless Chicago Bears!   You see the game?  Painful!  Very painful!
Less than an hour before the Season Finale of Mad Men . . . so, time to blog!
If you are self-employed for a living - an independent contractor, perhaps in a Real Estate Related Field - perhaps you have asked yourself this question, at one time or another -
"What's my exit plan?   And, what will my source of income be after I opt for this plan?"
Now, this is a question that those employed in a full-time job may not have to … (1 comments)

THIS WEEKEND IN CHICAGO - November 7-8, 2009 - 11/07/09 01:28 PM
Hey, folks!
Our Team Member Sue Moss just wanted to catch you up on some of the fun things to do in Chicago this weekend.
Hope you can enjoy them!
The Allstate Arena will be welcoming "The Greatest Show on Earth" this weekend - the Ringling Bros. & Barnum & Bailey Circus.  There's always fun to be had at a circus for both young and old.  For me, it's eating tons of cotton candy until my stomach hurts!  Click here for show times and tickets.
The Museum of Contemporary Art in the Gold Coast neighborhood (220 E. Chicago Avenue) offers a … (0 comments)

CHICAGO NEIGHBORHOOD NEWS - November 7, 2009 - 11/07/09 09:20 AM
Good Morning!
This week, in her Chicago Neighborhood News Post, our Team Member Cathy Mallers covers the Chicago Neighborhoods of Portage Park, Lincoln Park, The Loop, and The Gold Coast, as well as the Chicago Suburb of Evanston IL.
Planning something special in your Chicago Neighborhood or Suburb?  Let us know, and we'll help get the word out!
Dean's Team offers the Highest Rated Active Rain Blog in Chicago!
PORTAGE PARK
Make sure you mark your calendars now because coming to Portage Park in 10 days is the Horror Society Film Festival.  I have to say better late than never.
The … (0 comments)

Chicago IL Market Statistics Update - November 2, 2009 - 11/06/09 08:07 PM
Good Evening!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, November 1, 2009.
Don't let the big jump in Sales Closed, Sales Volume and Listings Expired concern you too much!  These wild jumps are very typical for the end of the month - and many listings are set by Realtors to expire the end of each October.
Most of the key numbers continued to be flat last week - Active Listings fairly stable, Average Market Time still too high.  However, I am encouraged by continuing stability in Pending Sales despite the approach of the dreaded Chicago Winter.  Also, the … (0 comments)

Fed To Keep Interest Rates Low . . . for the Time Being! - 11/06/09 07:22 PM
The U.S. Economy is improving, despite a 26-year high in the U.S Unemployment Rate.  Interest Rates are low - less than 5% for some borrowers.  President Obama today extended the popular First Time Homebuyers Creditwell into 2010, and extended to program to include many existing homebuyers as well.
But inflation is low.  The Real Estate Market is still sluggish, here in Chicago, and across the U.S.  And the Fed, it seems, is not planning to upset the apple cart by raising rates at this time, as reported in the Wall Street Journal yesterday by reporter Jon Hilsenrath.
The reason the Fed … (1 comments)

Lil' Buddy's Blog: Oh, Nooooo! New Chicago Telephone Area Code Could Create Mass Chaos Here! - 11/06/09 06:19 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
I am so sorry I am tardy with my weekly post, you dogs!  Over the last several days, I have been a bit under the weather.  My Human Mom, Dean's Team Member Sue Moss, told me that sleep would be the best remedy.
As you see here, I am actually sleeping, while completely awake!
Most dogs I know do have a programmable cell phone - although text messaging is a bit hard for those of us with no opposable thumbs in … (1 comments)

It's Done! First Time Homebuyer Tax Credit Extended, Program Expanded into 2010! - 11/06/09 05:40 PM
Earlier today, the drama on whether theFederal First Time Homebuyer Tax Credit would be extended into 2010 came to an end. 
As reported on CNN Money.com, by reporter Tami Lubby, President Barack Obama signed a program extension which gives First Time Buyers an $8,000 Federal Income Tax Credit, provided they contract for their new home on or before April 30, 2010 (the transaction must close on or before June 30th). 
The extension of the popular First Time Buyer Credit was attached to a bill extending Unemployment Benefits, on a day when the U.S. Unemployment Rate was reported at a 26-year high 10.25%.
It … (0 comments)

TURN UP THE VOLUME - Does Increased Lead Generating Activity Work For Sales Consultants? - 11/02/09 01:15 AM
Hey, folks!
It's the middle of the night, I'm on the Second Floor of a Bungalow on the Northwest Side of Chicago, and I'm composing a blog post!
Am I a die hard . . . or what?
Do you sell for a living?  Real Estate?  Something else?
Well, if you're in any kind of relationship-based selling or consulting business, where most of your income is derived from what you sell, rather than how many hours you work, you've heard the following words -
LEAD GENERATION!  Or, as some prefer . . . PROSPECTING!
Every day, we each go into our … (1 comments)

 
Dean%20only,%20columbus%20oh%20mentor%20conference%20-%2001-2003 Rainmaker_large

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

Chicago, IL

More about me…

Dean's Team - Keller Williams Realty Partners Chicago IL

Address: 6053 N. Mason Avenue, Chicago, IL, 60646

Office Phone: (888) 770-8326

Cell Phone: (773) 290-8393

Email Me

Here's the Buzz on Chicago IL Real Estate News, Neigborhood Events, Things to Do Around Chicago, and more!


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find IL real estate agents and Chicago real estate on ActiveRain.