Chicago, IL

NEW LISTING Spacious and Gorgeous 3 bedroom RENTAL in Albany Park only $1050 a month! 4919 N Kentucky Chicago IL 60630

11-20-09

Nick Libert: Real Estate Agent in Chicago, IL

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Mobile: (312) 493-0920

4919 N Kentucky St Chicago, IL

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WOW! VERY CLEAN AND WELL KEPT UNIT. EXCELLENT LOCATION, CLOSE TO EVERYTHING. WALK TO SHOPPING, GRAMMAR SCHOOL. PARK HAS SWIMMING POOL. VERY QUIET NEIGHBORHOOD. TWO BED WITH OFFICE, SPACIOIUS DINING ROOM AND KITCHEN. PARKING IN REAR OF BLDG!

MLS# 07381780
$1,050
3 Bed, 1 Bath
4919 N Kentucky St
Chicago IL, 60630

Nick Libert/ Ryan Lee Team
EXIT STRATEGY REALTY
773-980-9339
nick@nicklibert.com

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Ebert's Half Star Reviews Offered Real Chicago Humor

11-20-09

Thomas McCarey

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Mobile: (773) 848-9241

Back in the day the best reads in the Chicago papers came on Thursdays or Fridays when Roger Ebert was presented with a really bad movie. One of the finest of film reviewers in America, Ebert was at his best (and funniest) when he had a chance to sharpen his pencil and scribble notes about the whys and wherefores of some particularly smelly film he had witnessed that week.

I thought of Roger earlier today as I read a review in the New York Times about Sandra Bullock's latest cinematic expression.

Since The Times doesn't give its readers a head start by using stars in reviews you have to muck through the prose to gain a sense of what the reviewer thinks. And even then sometimes you are left with a blank look, unaware of the plus or minus of a particular movie. Trust me, today's review of "The Blind Side" leaves no doubt.

While reviewer A.O. Scott doesn't seem to have an ink pot at his disposal that lends itself to the scalding words that Ebert might use, there is no doubt what his sentiments are after being subjected to the "two hour holiday greeting card" that he finds "The Blind Side" to be.

But what really struck me in his review was a single line that may have broader application when he said the movie was guilty of

shedding nuance and complication in favor of maximum uplift.

So it's a case of the energizer bunny being bright-eyed and bushy tailed over and over and over and over, pushing us and cajoling us to look on the bright side. No matter what.

Heck, it's something most of us are guilty of doing occasionally. Jeez, some might say the real estate industry as a whole suffered from the collective amnesia of pursuing "maximum uplift" all the way up to the start of our current economic downswing.

The question, though, is in the face of revised information, what is the next choice.

In the "The Blind Side" the movie's title was perfect because Bullock's character never moved out of the darkness of her blindness. She continuing to saunter forth, blithely and daftly. The good news is that such daftness is not permeating the Chicago real estate market as I see more and more of a shift away from the darkness.

In other words more and more realtors and their selling clients are taking constructive steps to, as Dr. Phil would admonish us, "get real."

An important question that has yet to be fully and completely answered relates to whether lenders are going to step up to the plate to constructively assist prospective buyers get funding to take advantage of the shift toward more realistic and pragmatic pricing.

Stay tuned.

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Latest Trends in Real Estate – Fall, 2009

11-19-09

Bill Bein

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Mobile: (773) 510-9021

Where is the market headed? We don't have a crystal ball but can provide a link to what we think is the best regularly updated report on national real estate trends, the quarterly Economic and Real Estate Trends from the people who issue PMI (Private Mortgage Insurance).

Their report includes commentary on the national economy and regional housing price trends, and a ranking of risk for the 50 most populated metropolitan areas.

Sample Risk Analysis Map

The current report (3rd Qtr 2009) is good news in Chicago. Chicagohas moved in their ranking back LOW in their risk assessment of our market... Click here for:

> Current Quarterly Report from PMI

You may also want to see their other resources (like a full risk-analysis chart or their monthly "Housing and Mortgage Market Review." To see all they offer, click here for their main report page:

http://www.pmi-us.com/econ/

And this is just the start of what you'll find at http://www.chicagoland2to4flats.info/!!!

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Chicago, Illinois 60641 Real Estate Market Update November 2009

11-18-09

Barb Van Stensel, Realtor - Chicago, Illinois

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Office: (773) 564-4268

Mobile: (773) 746-5395

Chicago, Illinois 60641 Market Update for Single Family Homes

If one looked at the two year figure for the housing market in Chicago's 60641 Zip Code area, the figures would be devasting. For instance, the two year repot shows an adjusted price of 52.8% from 2007 to now for Single Family Homes. That is extremely significant and the reason why it is such a huge drop in value and misleading is because it includes neighborhoods of Old Irving Park, Portage Park and includes part of Albany Park. Financing ranged from FHA to conventional. The type and sizes of the homes are larger lots and homes in Old Irving Park, where Portage Park and Albany Park have similar lots sizes but FHA financing was stronger in Albany then it was in Portage Park.

With that all being said, let's look at where we are from one year ago compared to today.

Single Family Homes in Chicago, Illinois 60641 marketplace have seen a 6.9% reduction in price for Under Contract Homes with a median of $199,700. However, there is a 19.6 downward trend in final selling price with a median of $170,000. Now, remember this includes three neighborhoods and this system cannot pull out the medians for the three individual neighborhoods. I will explain why this is important shortly.

New listings of Single Family Homes in Chicago, Illinois 606041 marketplace are coming on at $249,500 versus $250,000 a year ago. It is telling me that there is a reduction in properties in Albany Park but Portage Park and Old Irving Park are still showing new listings everyday.

WHERE's THE COMPETITION?

Under Contract has increased 80%

Sold has increased 11%

For Sale has dropped 30%

This is for Single Family Homes in Chicago, Illinois 60641 Marketplace.

WHAT's TAKING SO LONG?

While more homes are going under contract, the days on the market has gone from 176 Days in 2008 up to 244 Days on the market. That is a 38.2% increase in marketing.

So, what's in store for Chicago, Illinois 60641 Marketplace?

Well, right now there are 555 Pre-Foreclosure properties that haven't even hit the market. There are 178 Bank Owned Homes of which, most of them are in the marketplace.

You are not the only ones in this position right now with the increase of pre-foreclosures. The banks have begun to release properties that thye have been holding on to for the last year. This is just the beginning of exposure. Our goal is to help those who are in the pre-foreclosure stage to get them sold so that the median price doesn't continue to drop in a significant way.

If you know of someone who is having financial mortgage struggles, have them reach out to us before they go into foreclosure. Foreclosure and/or bankruptcy isn't good with mortgages right now. The homeowner may end of owing should the home go into foreclosure.

If you are a standard sale, your best options are to either hold on to your property or get your property looking it's best to obtain the highest price in this market.

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Four Investment Property Rules: #4

11-17-09

Bill Bein

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Mobile: (773) 510-9021

A home or condo lets you own property, but 2- to 4-flats take it to the next level: building passive income and wealth. But the rules in buying multi-unit property are NOT the same as with a condo or home, as you may already have begun to learn:

Rule 4: Financing two flats to four flats is different. Are you going owner-occupied or non-owner occupied? The web site section on Financing and our lending partner (Guaranteed Rate) can help you custom fit financing to your property goals and financial situation. For certain, we think you will be interested in seeing the Matrix of Loan Programs and Rates and our Online Loan Program and Rate Calculator.

Our free seminar, Investing in 2- to 4-Flats, can help you make sense of all of this. First-time buyers have, of course, loved it -- but so have current owners who want to parlay existing property into more. Click here for the Seminar Schedule / Sign Up.

To see all the Rules of buying investment property, go to the home page of http://www.chicagoland2to4flats.info/!!!

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