housing: Seasonal Adjustment or Market Shift in Lincoln Park Chicago?
- 10/21/15 03:38 AM
What is causing the housing slow down in the Lincoln Park real estate market and the Sheffield Neighborhood in particular? Quite surprisingly only three condos went under contract in September in our Sheffield neighborhood of Lincoln Park with an actual market times of 229 days, 92 days and 128 days or an average of 150 days. That is a significant slow down in the condo market in our area. The listing prices ranges from $400,000 to a high of $458,000 in this months activity. Only two single family homes went under contract in September listed at $1.2M and $1.65M with market times in the 44 and 45 day period. … (0 comments)
housing: Bucktown vs Wicker Park Single-family Home Sales Trends
- 10/06/15 03:06 AM
Here is an interactive chart of the last 5 years for median sales prices for detached single family homes comparing Bucktown to Wicker Park (4 beds or larger, 3000SF or larger and over $550,000 sales price).
We are seeing a normal amount of volatility in median sales prices in Wicker Park but the Bucktown market continues to show more stability and growth with the northern section (Armitage to Fullerton) showing less gains than in the south (Armitage south to North Ave).
In both neighborhoods prices are rising significanly year over year and prices are expected to continue to improve even with seasonal asjustments.
housing: Sheffield Neighborhood Single-family Home MARKET REPORT
- 09/17/15 02:20 AM
Six single-family homes went under contract in August in our Sheffield neighborhood of Lincoln Park with an average market time of 118 days. The listing prices ranges from $535,000 to as high as $3,995,000 with an average list price of $1,623,000. Absorption Rate: With 25 current active single-family homes on the market in the Sheffield Neighborhood that translates to a 4.16 month absorption rate which means if no new single-family homes came on the market it would take 4.16 months at the current rate of sales activity to absorb the current supply of housing which favors sellers. It is a sellers single-family homes market in our Sheffield Neighborhood!
For a complete … (0 comments)
housing: Luxury Lincoln Park Townhome
- 12/15/09 06:10 AM
First time on the market since it was built in 1995, this absolutely spectacular three bedroom, three bath residence end unit townhome that shows and lives like a single-family home. These are the original owners and will be the first time since then this home is available. Take advantage of this opportunity and this wonderful and warm four level home. Walk down the quiet tree-lined residential Seminary Street heading south one-half block and you are at Adams Park. A few short steps to Armitage and head east one-half a block and you are in the heart of Lincoln Park retail shopping, … (0 comments)
housing: Housing Bubble Correction and the Opportunity it Presents
- 04/24/09 08:10 AM
A sign of recovery? If you have to ask ‘have we recovered yet’ chances are we have not. However, by the time we know we have recovered we will have been recovered for some time. Remember we didn’t diagnose the recession until three quarters later.Warren Buffet says, “If you wait for the robins, Spring will be over”. In my opinion, the best opportunities come at the bottom of the market cycle when depression and worry are at their peak. I’d say we are pretty close to that now. The market is correcting itself in a healthy way. When prices inflate beyond … (0 comments)
housing: Buyer Urgency: How Do You Create It?
- 10/28/08 07:40 AM
I try and give my clients a balanced view of the market and really dedicate myself to advising them on what is best for them, not what will lead to the quickest sale for me. Sometimes I find myslelf saying, "You will just have to trust that my best intentions are to give you the actual (not inferred) professional information so you can make an informed decision about buying (or selling or whatever)". They usually say "We can tell (or we know) what kind of person you are and we do trust your opinion". Here is an email I sent recently … (5 comments)
housing: Lincoln Park Single-family Market Snapshot Fall, 2008
- 10/27/08 11:09 AM
Market Snapshot of Lincoln Park (Chicago) single-family homes for Fall Quarter, 2008 ChicagoHomeBuzz.com The total number of Lincoln Park , Chicago single-family homes sold for the third quarter, 2008 was 47 units compared with 53 units in 2007 down 11% from the previous year and down 10% since 2003. The median sales prices of Lincoln Park , Chicago single-family homes for the same quarter was $1,300,000 compared with $1,425,000 in 2007 down 9% from the previous year and up 17% since 2003. The average sales price of Lincoln Park , Chicago single-family homes for the same quarter was $1,528,101 compared … (0 comments)
housing: Chicago's Real Estate Market Report: Median Prices UP 25%!!!!
- 10/15/08 04:22 AM
Beware of summaries. They are for losers. Beware of the pessimist or the optimist. Look for the micro-economist in your neighborhood. This is an historic time in our national economy and it really is incredible to watch since it is directly affecting each and every one of us. General summaries and market data are for losers and we frown on them. Why? Real estate operates in a local economy. Block by block, street by street, subdivision by subdivision. One street could be booming and the next street busting. Beware the pessimists or the optimists. Look for the micro-economist in your neighborhood. … (0 comments)
housing: Edgewater Designers Condo for Sale in Chicago
- 08/29/08 09:46 AM
Absolutely stunning 1800 square foot chic-vintage 3BR condo in Edgewater at 1432 W Elmdale. Large front living room and sitting area with extra wide entry foyer. Custom built cabinetry and hardware throughout. Large bedrooms and ample closet storage. Separate dining area and family room off of this custom gourmet chef’s kitchen with Viking oven. Clean and move-in condition. A true must see. Parking available for only $15,000 additional . Low taxes and assessments are only $213 per month. Visit www.edgewatercondo.info or call today for a private showing. … (0 comments)
housing: Buyer's Market Means Buy
- 04/03/08 11:36 AM
The headlines these days can be pretty scary. But if you start to separate out the fact from the fear you can begin to make an educated decision about what makes economic sense for you when making your next home purchase. Instead of waiting for the economy to 'hit bottom' (which many predict will happen in the coming months), keep an eye on those interest rates (NOT the Fed Rate which has little direct impact on mortgages). A thirty year fix rate is just above 6% now. "The thing that will make home prices stop falling is the very same thing … (0 comments)
housing: City Transfer Tax Stalls Local Economy and Penalizes Wrong Side
- 02/16/08 01:39 PM
The City of Chicago has passed the increase of the transfer tax buyers pay on a property transfer. The rate has been raised from $7.50 per $1000 purcahsed to $10.50/1000. This money as you probably know has been approved to pay the budget deficit for the CTA budget woes. An average Lakeview condo sells for $380K. The buyers transfer tax would have been $2850 paid to the city coffers. Starting April 1, the tax (sorry "transfer stamps") due from the buyer on that same average condo will be $3990! The politicians are working on getting a stimulus package to jump start the economy by issuing … (6 comments)
housing: Lakeview Dominick's Zoning Requested for Larger Development
- 02/16/08 04:25 AM
The newest Lakeview commercial and residential development planned at 3012 N Broadway is requesting a zoning change from B3-2 to B3-3. The anchor tenant, Dominicks store, will be a little over 40,000 sq. ft., which takes up a lot of the site area. There will be 44 residential units and the building will be 64 ft. high. Floors 3 - 5 will be residential and will be set back 19 feet. There will be terraces in the front. There will be about ¼ acre of green space on top of the 2nd floor in the rear. There is also terraced outdoor … (1 comments)
housing: Hold the Press. Are Rates that Low?
- 02/15/08 07:16 AM
Hold the Press. Are Rates that Low? Syndicated columnist, Lou Barnes has hit the nail on the head regarding how inflated media coverage of the current downclick in rate adjustments have been and how I as a realtor have to coach my clients about how the Feds rate reduction really has no major effect on mortgage rates but more so on short term interest rates like car loans, home equity loans and credit card loans. Rates have dropped a bit but they are back up to 5.75% and my advice is still to wait and see on the refi decision after … (2 comments)
housing: Chicagoland Chamber Survey Reports Economic Confidence Higher in Chicagoland Than Nation
- 01/15/07 07:19 AM
Chicagoland Chamber Survey Reports Economic Confidence Higher in Chicagoland Than Nation The economic confidence of consumers in Chicagoland rose significantly during the fourth quarter of 2006, according to the Rasmussen Consumer Index for the region released today by the Chicagoland Chamber of Commerce. The quarterly reading stood at 121.2 at the end of December, a more than 12-point gain from 109.1 reported at the end of September. And, for the first time, Chicagoland residents were more optimistic about the economy than consumers nationally. The national Rasmussen Consumer Index for the same period is 117.7 Here is the full story … (0 comments)
housing: Chicago Market Report Available Now
- 01/11/07 05:36 AM
Hello Everyone and Happy New Year!My market report for the 4th quarter of 2006 for single family, condos, townhomes and multi-unit residential properties in our mailing list sorted by zip code is available at http://www.chicagohomebuzz.com. It will show the huge increase in sales volume compared to 3rd quarter, 2006. With a few exceptions the zip code neighborhoods were up and in some case up BIG. The overall increase from the 3rd to 4th quarter was over 35.5% in total sales going from $2,118,059,477 in the third quarter to $3,284,127,045 in the fourth quarter of 2006. Here is a link to our podcast … (1 comments)
housing: The Best is Yet To Come...
- 11/21/06 08:48 AM
The Wall Street Journal interviewed national economists whopredicted a slight (2.8%) increase in home prices this year. They also on average predicted a 0.5% fall in home prices next year. That is a sharp contrast to the double digit growth we've experienced for the past several years. 2005 showed a 13.5% growth. Home price predictions varied widely depending upon region or city, from as much as a 7% average increase to a 10% decline for 2007. 20 economist predicted a rise in prices where 24 predicted a decline. "We're starting to see inventories topping out and possible declining" … (0 comments)
housing: Downtown Condos Down Again
- 11/18/06 06:25 AM
This bit of news was just realeased by Crains: New condo sales down again in 3QSales of new condos and townhouses downtown fell 35% to 1,324 in the third quarter compared to the year-earlier period. Sales dropped 11.5% from the second quarter, the second straight quarterly decline, according to a new report by Appraisal Research Counselors. Sales of condos newly converted from apartments or other types of space - a small slice of the market - rose 80%, but sales of new-construction condos dropped 38% from the second quarter. Appraisal Research predicts a record 6,500 new-construction condos will begin marketing this year, … (0 comments)
housing: Edgewater Condominiums
- 11/09/06 05:51 AM
This spacious renovated Edgewater four-unit condo development has integrated contemporary features while maintaining the original vintage charm. This building features three, 3 bedroom 2 bathroom condos and one, 2 bedroom 2 bathroom residence. Click here for a link to our featured property page Click here for a free flyer (pdf) for our 3BR/2BA units (start at $349,000 plus 25K for garage parking) Click here for a free flyer (pdf) to our 2BR/2BA unit ($269,000) 3BR photo gallery 2BR photo gallery Call Jim Gramata , Broker Associate for a private showing or call for an updated Open House schedule (773-252-HOME)
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housing: City of Chicago Programs that Can Benefit You
- 11/09/06 04:59 AM
Buying and Selling a Home in the City of Chicago: Bill Pavala, Assistant Commissioner of the Department of Housing and Senior Housing Coordinator, will present "Buying and Selling a Home in the City of Chicago: City Programs That Benefit You" When: Wednesday, November 15, 10:00am-11:00amWhere: 6700 S. Keating Avenue, Chicago The event, sponsored by Senior Lifestyle Corporation, in conjuction with the City of Chicago, will cover four important programs offered by the City of Chicago that would benefit your clients: - Bungalow Initiative - Tax Smart Program - City Mortgage Program - Greystone Initiative The presentation will be followed by a Q&A session. RSVP … (0 comments)
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