Posts Categorized: Market Insights

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1400 S. Michigan Ave. Condo Auction

Another South Loop condominium development is looking to clear their unsold inventory via an auction. On November 15, 2009 Michigan Avenue Tower II will auction off 41 units in one hour at the W Hotel, starting at 1:00 PM. Check out the link above for information on the building, floor plans, and some historic sales… Read more

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Chicago Employment Continues Its Nosedive

The preliminary September labor statistics for the Chicago metro area show that employment is back on the decline after several months of improvement. 367,000 jobs have been lost since the peak in July, 2007 and 217,000 jobs have been lost in just the last 12 months. That’s a lot of potential homebuyers. We are now… Read more

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Are Short Sales Dead Until January?

As if short sales weren’t already taking forever to get approved there is currently a belief that lenders are holding off on approving short sales until the beginning of next year. Why would they do this? Incentives. Once they accept the short sale they have to take a loss – the difference between what the… Read more

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Home Prices To Fall Another 11%?

I don’t think so – at least not in Chicago. CNN Money came out with a story today about a Fiserv forecast that home prices will fall another 11.3% nationally by June 2010. Fiserv is a financial information and analysis firm that tracks the housing market among other things. Having personally declared a bottom to… Read more

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Hinsdale Illinois Real Estate Market Conditions

Some quick tidbits on the real estate market in Hinsdale. As of  September 8th 2009, there were 322 homes on the market.  Off the 322 listings, 7 homes are temporarily off the market 35 are under contract 20 are short sales (8 under contract now) The average single family home price is $1,299,687.  The median… Read more