Dean Moss - Dean's Team Chicago Real Estate Team

Hey, folks!

Our Team Member Sue Moss just wanted to catch you up on some of the fun things to do in Chicago this weekend.

Hope you can enjoy them!

The Allstate Arena will be welcoming "The Greatest Show on Earth" this weekend - the Ringling Bros. & Barnum & Bailey Circus. There's always fun to be had at a circus for both young and old. For me, it's eating tons of cotton candy until my stomach hurts! Click here for show times and tickets.

The Museum of Contemporary Art in the Gold Coast neighborhood (220 E. Chicago Avenue) offers a Hide and Seek free with general admission. The admissions desk can provide you with a guide containing clues for an art scavenger hunt. Click here for more details.

Don't know a thing about Chicago's theater district? Well, you're in luck! The Broadway in Chicago Historic Theater Touris offered on Saturdays at 11:00 a.m. This tour will enlighten you with folklore and quirky facts about two of the following -- Ford Center for the Performing Arts, Oriental Theatre; the Bank of America Theatre, and the Cadillac Palace. Click here for more information.

Speaking of the Cadillac Palace Theatre (151 W. Randolph Street) in the Loop, this Sunday evening is opening night of Young Frankenstein, you know, Mel Brooks' classic film where Dr. Frankenstein creates The Monster. It'll be interesting to see how well it's been adapted for Broadway. So, click here to get your tickets. It only runs through December 13^th!

Sheffield's(3258 N. Sheffield Avenue) in the Lakeview neighborhood will be hosting their 2^nd Annual Chili Cook-Off this Sunday from 2:00 p.m. to 5:00 p.m. in the beer garden. It's for amateur cooks, so if you wish to compete for the $200 gift card, your entry must be received by 2:00 p.m. on Saturday. Click here for further details.

Since this very well may be the last weekend of mild temperatures and no rain for a while, why not take Bobby's Lakefront Neighborhoods Bicycle Tour, which includes bikes and helmets. In fact, yours truly, took this tour in July and thought it was well worth the price. I had such a great time I'm going to do it again next year! But hurry, this tour only runs through November 30^th, so click here to get more details on this guided tour.

Lastly, there is one Holiday event taking place this Saturday at Noon, and it's Macy's 103^rd annual Great Tree Lighting celebration in the Walnut Room. But don't fret if you can't make it, the tree will be on display through January 10^th. Click here for further information.

Don't live in Chicago? You jealous?

Here's a link to Sue's This Weekend in Chicago Blog Archives, via BlogChicagoHomes.com.

Move here!

DEAN & DEAN'S TEAM CHICAGO

Good Morning!

This week, in her Chicago Neighborhood News Post, our Team Member Cathy Mallers covers the Chicago Neighborhoods of Portage Park, Lincoln Park, The Loop, and The Gold Coast, as well as the Chicago Suburb of Evanston IL.

Planning something special in your Chicago Neighborhood or Suburb? Let us know, and we'll help get the word out!

Dean's Team offers the Highest Rated Active Rain Blog in Chicago!

PORTAGE PARK

Make sure you mark your calendars now because coming to Portage Park in 10 days is the Horror Society Film Festival. I have to say better late than never.

The Portage Theater will be showcasing classics like 'The Return of the Living Dead,' 'Fleshbeast,' 'Colin,' 'Zombie Girl' and more.

Be sure to get your tickets now.

LINCOLN PARK

Who doesn't like a good laugh? One of Chicago's favorite locations for fun and frivolity is Second City. With an amazing lineup (including Steve Carrell, Stephen Colbert, Jim Belushi and more) just released this week, tickets are going to be at a premium for the event billed as "The Second City Alumni: One Night Only."

The show will be staged in both of Second City's mainstage and e.t.c. theaters. Tickets go on sale Thursday morning at 10am and will cost $125. Be sure to call early if you want to get tickets because the only show is at 7 pm with the late night slot being private for alumnae only.

LOOP

According to its website, Block 37 is a premier development encompassing an entire city block bordered by State, Randolph, Dearborn and Washington streets in the heart of Chicago's downtown Loop. Block 37 will have direct access from the City's Pedway as well as the CTA Red Line and Blue Line subway system.

The Block 37 building continues to build its resident listings. With new leases totaling 20,700 square feet and featuring tenants such as Sephora, Michelle Tan, Claudia Kleiner Malabar Collection, Simply Thalia, iCandylicious, and more.

Developer Joseph Freed & Associates LLC remains optimistic about filling the 280,000 square foot shopping center. In a recent press release the developer states that Block 37 is "on track to open this new shopping and entertainment destination for consumers before Thanksgiving and to complete Block 37 by the end of 2010."

GOLD COAST

Gentlemen it's now time to update your wardrobe and move out of the t-shirt and jeans look. Local store, aptly named Haberdash, has undergone a complete makeover and is offering new looks to men who want to update their wardrobe.

Of particular note, the shop now carries everything from dress socks to office-ready Hugo Boss suits and even its own exclusive line of vintage-inspired button-downs.

Be sure to stop by the newly remodeled location with its men's club feel and urban chic inventory.

EVANSTON

What if you could write your own story based on illustration only? At the Evanston Public Library in the children's section you can now visit the "Imagination Library" for just that.

On the second and third floors of the library you will see 75 original paintings, sketches and drawings accompanied by a description of what the illustrator envisioned for the story - but the story itself is left up to the imagination of the viewer.

Thanks to the efforts of Jeff Garret, Associate Librarian for Special Libraries at Northwestern, Evanston Public Library was able to showcase the international exhibit which has already appeared in Japan, Greece, and Iran.

Here's a link to Cathy's Chicago Neighborhood News Archive, via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

Good Evening!

Here's our Chicago Market Stats Update, based on data compiled Sunday evening, November 1, 2009.

Don't let the big jump in Sales Closed, Sales Volume and Listings Expired concern you too much! These wild jumps are very typical for the end of the month - and many listings are set by Realtors to expire the end of each October.

Most of the key numbers continued to be flat last week - Active Listings fairly stable, Average Market Time still too high. However, I am encouraged by continuing stability in Pending Sales despite the approach of the dreaded Chicago Winter. Also, the Average Sales Price in the North and Northwest Sides of Chicago Neighborhoods we serve most frequently jumped over 5.5% last week.

Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, fell significantly last week - it's now below 10 months. This is far from the sub-5-month Absorption Rate of a couple of years ago, when the market was far stronger, but the downward trend is very encouraging.

The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame also improved - to 47.09% this past week.

Here are archived annual Chicago Neighborhood Statistics, including Units Sold and Price Trends Data, for 1995 through 2008 courtesy of The Chicago Association of Realtors.

In addition, here is an Interactive Median Price Heat Map, from the Chicago Tribune Real Estate Section, covering Every Chicago Neighborhood. View the map for links to maps for Chicago Suburbs. It is updated as new data becomes available.

Communities and clients we serve, reside, or plan to reside, in the Chicago Neighborhoods of The Chicago Loop, The Gold Coast, River North, Lincoln Park, Lakeview, Uptown, Edgewater, North Center, Lincoln Square, Albany Park, Ravenswood, Wicker Park, and Bucktown.

Also, these Great Chicago Neighborhoods: Logan Square, Rogers Park , West Ridge, Portage Park, Jefferson Park, Norwood Park, Sauganash, Edgebrook,and Edison Park. Plus All Chicago Suburbs.

SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE

ACTV LISTINGS JUST SOLD CLOSED EXPIRED

w/e November 1st 3,804 58 131 72

w/e October 25th 3,887 59 68 12

% CHANGE -2.2 -1.7% +92.6% +500.0%

CLOSED PROPERTIES DATA

AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME

w/e November 1st $257,178 139 DAYS $33,690,318

w/e October 25th $243,523 138 DAYS $16,559,564

% CHANGE +5.6% +0.7% +103.4%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e November 1st - LAST 12 MOS - 13.65 LAST 6 MOS - 10.39 LAST 3 MOS - 9.83

w/e October 25th - LAST 12 MOS - 14.19 LAST 6 MOS - 10.95 LAST 3 MOS - 10.27

PERCENT OF HOMES SELLING IN 180 DAYS -

w/e November 1st - 47.09% (UNSOLD - 52.91%)

w/e October 25h - 45.36% (UNSOLD - 54.64%)

SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA

Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com.

Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!

DEAN & DEAN'S TEAM CHICAGO

The U.S. Economy is improving, despite a 26-year high in the U.S Unemployment Rate. Interest Rates are low - less than 5% for some borrowers. President Obama today extended the popular First Time Homebuyers Creditwell into 2010, and extended to program to include many existing homebuyers as well.

But inflation is low. The Real Estate Market is still sluggish, here in Chicago, and across the U.S. And the Fed, it seems, is not planning to upset the apple cart by raising rates at this time, as reported in the Wall Street Journal yesterday by reporter Jon Hilsenrath.

The reason the Fed would eventually increase their key Federal Funds Rate - the rate at which banks lend to each other overnight - would be to curb inflation. However, at this point, inflation has not taken a foothold, despite an economic recovery in some sectors.

Currently, the Fed Funds Rate is close to zero, and many mortgage interest rates tied to it - especially rates on Adjustable Rate Mortgages and Home Equity Lines of Credit - have seen significant declines over the past year.

Alternatively, it is possible that keeping interest rates so low for an extended period, coupled with a heavy pumping of Federal Funds into the U.S. Financial System, could eventually create inflationary pressure in and of itself.

At last week's meeting of the Federal Reserve Board, the Fed elected to purchase $175 Billion in Corporate Debt issued by U.S. Mortgage Investors and Guarantors Fannie Mae and Freddie Mac. Their original plan was to buy $200 Billion of such debt.

To date, the Fed has completed its early 2009 plan to purchase $300 Billion of securities from the U.S. Treasury. It plans to complete purchase of roughly $1.25 Trillion in Mortgage-Backed Securities by next March. These moves are designed to put more money in the U.S. Financial System, and encourage lending by big banks.

Is the plan achieving the Fed's desired outcome. Some experts feel - not yet!

But low interest rates for mortgage loans, despite what seems to be ever-tightening standards for home financing - have helped spur home purchases by qualified borrowers, although not to the extent those in the real estate industry would like to see.

See our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!

I am so sorry I am tardy with my weekly post, you dogs! Over the last several days, I have been a bit under the weather. My Human Mom, Dean's Team Member Sue Moss, told me that sleep would be the best remedy.

As you see here, I am actually sleeping, while completely awake!

Most dogs I know do have a programmable cell phone - although text messaging is a bit hard for those of us with no opposable thumbs in our paws. Virtually all of us have land line phones with a Speed Dialing Feature.

Starting tomorrow here in Chicago, however, we all expect a bit of chaos to ensue.

As reported in yesterday's Chicago Tribune by Reporter Kayce T. Ataiyero, the City of Chicago is getting a new area code, the first new area code in city limits since 1997, when the 773 Area Code came to Chicago Neighborhoods outside of Downtown Chicago and The Chicago Loop. Many longtime Chicago residents curse the day they lost Area Code 312.

This new three-digit code - 872 - will be assigned only to new numbers in the city itself - current numbers in the in-city 312 and 773 area codes will not be changed.

However, thousands of cell and land line phones currently programmed to speed dial only 7 digits for numbers in a user's own area code will have to be re-programmed to now dial 10 or 11 digits.

Effective early tomorrow, everyone dialing within the 312 and 773 codes will have to dial that area code before the seven-digit phone number. Land line users will have to enter "1" before the area code.

Although 10 or 11 digit dialing has been standard in most Chicago North and Northwest Suburbs for years, City of Chicago Residents have been spared this added inconvenience. But that is about to end!

As of tomorrow, the Chicago Metro Area will have a total of 10 area codes. The City of Chicago itself will have three - 312, 773, and 872. The Northwest Suburbs now have two - 847 and 223. The Western Suburbs - 630 and 331. The Southern Suburbs, and some close-in Western Suburbs - 708. Further West - two area codes, 815 and 779.

A bit of nostalgia, you dogs! Up until 1988, Chicago and most of the Chicago Suburbs only had ONE area code - 312. My Human Dad, Team Leader Dean, longs for those wistful, simpler times.

You folks out in Wyoming, where there is only one area code for the ENTIRE STATE - we envy you!

Enjoy the weekend, you dogs! Dial carefully!

Please read my post today via BlogChicagoHomes.com.

YOUR ACE REPORTER ON FOUR PAWS,

BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO