realtor: More Signs of the Credit Crisis: Tenants Scrap Move-In Plans at Downtown Towers
- 01/20/09 07:15 AM
The national credit crisis – lenders tightening their standards so severely that it’s a struggle for anyone to qualify for financing -- has certainly slowed any possible recovery of Chicago’s housing market. If you need more proof of this, just check out this story in Crain’s Chicago Business. Two tenants have decded against moving into a pair of new office towers in downtown Chicago. Bridge Finance Group, which is based in Chicago, has dropped its plans to move into the top three levels of John Buck Co.’s tower at 155 N. Wacker Drive. Stockbridge Capital Partners LLC, a real estate investment … (0 comments)
realtor: When Looking For a Realtor, Find a Consultant Not a Salesman
- 12/17/08 09:06 AM
Now that we are suffering through one of the most serious housing slumps that I can remember, much of what I’ve long told buyers and sellers suddenly carries more weight. There is no clearer example of this then my longstanding recommendation that homeowners and buyers work with REALTORS® who are advisors, not mere order takers, when buying or selling a house. During the housing boom, REALTORS® didn’t have to work as hard to be successful. Homes sold in record time. Sellers juggled multiple offers. And buyers were willing to pay full listing price or higher to get their dream homes. We … (1 comments)
realtor: Stock Market Woes? Turn that Frown, Up-Side-Down
- 12/01/08 08:50 AM
It’s easy to get depressed these days when the statements from your retirement accounts come in. You open that envelope, take a deep breath, look and then … Well, it’s safe to say that you don’t like what you see. You’re far from alone, of course. Thanks to the country’s economic slump, the monetary values of 401(k) plans across the United States have been falling fast. But the struggling stock market shouldn’t keep you from buying a house if you’re ready to purchase. Certified planner Chris Bird last week told an audience at the 2008 REALTORS® Conference & Expo in Orlando … (0 comments)
realtor: One More Time: Your LOCAL Market is the One That Matters
- 12/01/08 08:41 AM
I always tell my buyers and sellers not to pay too much attention to national news reports regarding the housing industry. That’s because those reports focus on the entire country, while my clients need only worry about their local markets. To see what I mean, visit the Chicago Tribune’s Market Pulse Web site, which you can find here. The page lets you click on different Chicago neighborhoods to find their median housing prices and how they have changed during the last year. By doing this, you’ll discover that housing in Chicago has seen widely varying performances in the last year depending … (0 comments)
realtor: The "Silver" Lining of Chicago Construction
- 12/01/08 08:31 AM
I remember driving through Chicago during the housing boom in the early 2000s. Construction cranes dotted the sky everywhere. Developers were putting up condo towers, single-family homes and townhouse developments faster than the newspapers could report on them. That’s changed, of course. The pace of new residential construction has slowed significantly. But there are still plenty of new housing developments in Chicago’s top neighborhoods. And buyers are excited about them. One project getting closer and closer to completion is Silver Tower, a new high-rise under construction at 303 W. Ohio St. in Chicago’s River North neighborhood. The tower, when done, will … (1 comments)
realtor: Foreign Buyers: An Increasing Source of Investment in the Chicago Housing Market
- 10/27/08 10:28 AM
With all the negative news surrounding the U.S. housing market, you’d think that no one would be interested in purchasing a home here. Of course, I always say not to believe the media when it comes to our housing market. Depending on where you live – say, for instance, in Chicago – the residential real estate market is still healthy. Apparently, foreign buyers know this. I recently read a story in the Wall Street Journal – which you can read here – about the growing number of Canadian buyers who are purchasing U.S. homes. In fact, according to the story, Canadians … (0 comments)
realtor: Predicting An End To The Real Estate Slump
- 10/27/08 10:20 AM
I wish I could see into the future. Then I could tell my clients exactly when the residential real estate slump will end, and when housing prices will begin climbing again. Unfortunately, I don’t have this power. That doesn’t mean, though, that I don’t have my own thoughts. Personally, I think we’ve seen the worst of the housing slump already. I also think that starting next year we’ll start to see housing prices gradually begin to rise again. The real estate slump will end. Housing is too strong an investment to remain down for much longer. I’m not alone in these … (0 comments)
realtor: The Bubble Burst: Have We Hit The Bottom Yet?
- 10/24/08 10:35 AM
Please visit: www.theresidentialreports.com and www.mariogreco.com. When people find out I’m a REALTOR®, they inevitably ask me one question: When are things going to get better in the housing industry? I try to tell them that if they happen to be selling or buying a home in Lakeview, Lincoln Park, Roscoe Village, Lincoln Square or any number of Chicago neighborhoods, that their local real estate market isn’t bad at all. In fact, it’s healthy. -- Image Courtesy of The New York Times -- Most people, though, don’t want to talk about that. They want to know if the residential real estate market … (0 comments)
realtor: Developments to Watch in the Lincoln Square Neighborhood of Chicago
- 10/24/08 09:46 AM
There are certain Chicago neighborhoods that have been largely immune to the housing slump. Lincoln Square on Chicago’s North Side is one of them. If you want proof, simply drive around the neighborhood. It’s a vibrant place, filled with restaurants, shops and even its own movie theater. You’ll also see new construction, a sure sign of life in a neighborhood. One of the exciting projects nearing completion now is Fountain View, an 18-unit condo development at 2326 W. Giddings Ave. in the heart of Lincoln Square. The project, by developer Terra Firma, boasts several “green” features. This is key, I think, … (0 comments)
realtor: Illinois notches deal to keep state families in their homes
- 10/06/08 08:00 AM
The residential real estate slump has brought us our fair share of bad news. But nothing has been more sobering than has been watching as foreclosure rates across the country, and at home in Illinois, have risen. No one benefits from a foreclosure. And no one in the housing industry wants to see them. We woke up to some good news this morning, though, as Illinois – and several other states – have reached a settlement of their lawsuits against former mortgage star Countrywide Financial, a settlement that will keep 21,000 homeowners in Illinois from losing their homes to foreclosure. You … (0 comments)
The national credit crisis – lenders tightening their standards so severely that it’s a struggle for anyone to qualify for financing -- has certainly slowed any possible recovery of Chicago’s housing market. If you need more proof of this, just check out this story in Crain’s Chicago Business.
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