Chicago Real Estate Blog

It's All About the Micro-Market

The media tends to speak in terms of national numbers and regional trends when it comes to real estate news. Unfortunately, such broad interpretations of the housing market can grossly underestimate how well specific areas are doing -- such as our hometown of Chicago, which has seen home price increases in 70% of its neighborhoods in the past two years. That's why it is important to look at the "micro-market" to get a true gauge of current home values and sales in a particular spot.

Posted at 09:05AM Apr 29, 2008 by Kate Hoffman in General  |  Comments[0]

Home Loan Applications Are On the Rise

The first week of April reveals a positive sign for the U.S. housing market as mortgage requests increased over five percent from the previous week. According to the Mortgage Bankers Association (MBA), the home loan application volume has improved since the end of March, jumping a seasonally adjusted 5.4% (unadjusted was 5.7%).

Posted at 01:42PM Apr 18, 2008 by Kate Hoffman in General  |  Comments[0]

NAR Predicts a Housing Market Rebound in Late 2008

The chief economist for the National Association of Realtors says the U.S. is moving towards an improvement in home sales this year however we shouldn’t expect to see any changes for another few months. The NAR forecasts a stabilization of existing home sales during the first two quarters of 2008, followed by an upturn in the latter half of the year.

Posted at 05:00PM Apr 14, 2008 by Kate Hoffman in General  |  Comments[0]

"Premiere of Homes" Features New Homes on South Side

Spring is traditionally the hottest selling season for real estate, but with the preceding housing slump builders are not so sure a simple change in temperature will bring out the home buyers in droves this year. That’s why some Chicago developers are going the extra step to ensure house hunters know about the good deals and great values available right now. 

Posted at 10:18AM Apr 09, 2008 by Kate Hoffman in General  |  Comments[0]

Which Chicago Neighborhoods Are Weathering the Real Estate Downturn the Best?

Chicago is a city of neighborhoods. The patchwork of communities not only offers residents a diverse and unique cultural scope, but also presents a varying housing market that differs from block to block. So which Chicago neighborhoods have seen positive changes during this nationwide residential real estate slump? New statistics supplied by the Chicago Association of Realtors break down the sales numbers of the official 77 communities within the city limits to reveal how each area did in 2007.

Posted at 03:16PM Apr 08, 2008 by Kate Hoffman in General  |  Comments[0]

Part II: Get Your Home Resale Ready (Even If You’re Not Selling Now)

Certain homes are going to sell, no matter what the housing market situation or how the economy is fairing. How do these properties maintain their salability? Location is always important and, depending on your individual area, the size and type of house you have can make a big difference, too. Do some investigating on your own, or speak with a real estate agent to find out how your home compares.

Posted at 09:24AM Apr 04, 2008 by Kate Hoffman in General  |  Comments[0]

Getting Your Home Resale Ready

In a market where buyers are picky and sellers want to stand out, many homeowners are questioning what they can do to set their home up for resale—whether the hope is to sell this year or somewhere down the line.

Posted at 04:21PM Apr 02, 2008 by Kate Hoffman in General  |  Comments[0]

New Mortgage Requirements Resort to Old-School Terms

Home buyers in 2008 stand to get some really great deals on properties due to a surplus of inventory, developer incentives, low interest rates, and reduced prices. But could stricter mortgage requirements prevent some potential purchasers from owning the home of their dreams?

Posted at 09:21AM Apr 01, 2008 by Kate Hoffman in General  |  Comments[0]