Good Afternoon, folks! This week, in her Chicago Neighborhood News Update, our Team Member, Jennifer Arcand, updates goings on in the Lincoln Park, Uptown, and Norwood Park Chicago Neighborhoods, as well as downtown, in The Chicago Loop, and the Chicago Suburb of Naperville IL. Hey - do you have...

01/23/2009

Lil' Buddy's Blog: In Chicago, Like Nowhere Else, Dibs Rules for Parking Spots Each Winter! But, No More!

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THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG! Dibs? What is "dibs," you dogs? Well, if you played Little League Baseball when you were a pup, you know it as the right to bat first, because the game is being held in your back yard. On ...

01/22/2009

ULTRA-LOW-FIXED-RATE NEW HOME LOANS - The Latest Home Builder Incentive!

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Hope you're warmer where you are, than it is here in Chicago. Temperatures appear to be moderating, however - for now! We're just below the freezing mark! The latest promotion by a major home builder to stir sales in a continued-weak housing market comes from PA based Toll Brothers Builders. T...

01/22/2009

AS FORECLOSURES RISE, J.P. Morgan Chase Considers Expanding Loan Mod Efforts!

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Now, in an even bigger way, one of the largest mortgage lenders in the U.S. has gotten even more aggressive on attempting to stay the rising tide of foreclosed homes on its books. In the January 16th edition of The Wall Street Journal, Robin Sidel reports that lender J.P. Morgan Chase - one of t...

01/21/2009

"CHANGE"! It's Effect, Short and Long Term, in the U.S. Housing Market?

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Hey, folks! Gone for a couple of days - sorry! Fighting a bad cold, or the flu, or the heebee-jeebees, or something! But I'm back! What a Presidential Inauguration yesterday, huh? I was truly inspired! Not just because my guy won (hey, I'm from Chicago - who else would I have voted for?) But ...

01/21/2009

RENTS COMING DOWN, Due to Competition, in High-End Residential Buildings in Downtown Chicago!

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Good Evening, Everyone! Today, many sellers of High-End Condo Units, in many of the Top, Most Exclusive Chicago Neighborhoods, are having difficulty selling their units. To generate some cash flow - even if it is below what their house payment totals - these owners elect to lease their units. Bu...

01/19/2009

Chicago IL Market Statistics Update - January 19, 2009

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Good Morning! Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, January 18, 2009 - Active Listing Inventory, Pending Sales, and Closed Listings showed stability this past week. Expired Listings were at normal mid-month levels Strong incre...

01/18/2009

RAISING YOUR STANDARDS - Has it Cost You Business?

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Hey, Hey, Gang! This post is not simply for those in Real Estate. It's for everyone that sells, advises, counsels, or consults for a living. Here it is - when you Raise Your Standards - your target client base, the level and intensity of your work, reducing the level of inefficiency in tasks, an...

01/18/2009

FANNIE MAE TO ADD MORE LOAN FEES - Especially for Condo, Low-Down-Payment Borrowers!

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Here in Chicago, the real estate market, and the condo market, continues to struggle. Rising unemployment, tight mortgage loan underwriting standards, and too-high inventory seem to be standing in the way of a quick turnaround in the housing market here. As summarized in Mary Umberger's column i...

01/18/2009

FINAL TALLIES IN FROM REALTY TRAC - CHICAGO FORECLOSURES UP 53% LAST YEAR!

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Folks, there's good news, and there is bad news. The bad news first - across the U.S., according to CA-Based Foreclosure Listing and Research Company RealtyTrac, foreclosure filings increased 81% in 2008 versus 2007. The good news - well, a bit better news, anyway - foreclosures in the Chicago Me...

01/18/2009