Mortgage applications reversed a six-week trend last week and rose 4.8 percent, with prospective homebuyers and refinancings driving the increase. In addition, the refinance index, which measures refinancing activity, increased by 4 percent, and the purchase index rose 7.2

The National Association of Realtors (NAR) is raising awareness for fair housing to celebrate the 44th anniversary of  the Fair Housing Act, which was introduced in 1968. The Fair Housing Act prohibits discrimination based on race, color, national origin, religion,

John C. Aiello, an agent with Weichert, Realtors-McKee, died friday March 30, at Lutheran General Hospital in Park Ridge after a long battle with

Not even two weeks after Koenig & Strey made headlines with its announcement that it would be charging mandatory retention fees for its buyers, another Chicago brokerage has announced a new fee-based system with its own unique

Pent-up demand is a term that has been thrown around quite a bit in housing debates lately, and last week, the NAHB threw its analytical hat in the ring. Often, the demand argument is presented as the second coming

Loan modifications from the nation’s banks were down 20 percent from January to February, according to an analysis by the Hope Now alliance. In total, 44,500 home loans were modified in February, compared to 55,700 in January, and workouts

A new survey out from Coldwell Banker is reporting that a formidable number of homebuyers put more emphasis on the emotional appeal of a home than its technical details. According to a Real Estate Economy Watch overview of the

A new regulation from the Federal Housing Administration (FHA) is poised to further restrict access to the agency’s pool of low-cost, low-money-down loans. According to a CNN Money article on the changes, the FHA is now scrutinizing the creditworthiness

The Illinois House is taking a page out of the city of Chicago’s textbook and considering a vacant property ordinance based on new fees and regulations. Due for a House vote soon, the bill will provide local governments with

Former Cubs second baseman Ryne Sandberg is selling his luxury co-op home in Streeterville. The home is listed at $650,000, which make $260 per square foot for the 2,500-square-foot

  House Bill 4242 was unanimously approved  by the Illinois House in Springfield to freeze property taxes easements on properties that has been effected by natural disasters. The bill was passed Friday March 30 and went into effect

Construction spending, one of the main economic indicators for future growth, rose 5.8 percent year-over-year in February, according to the U.S. Census Bureau. At a $808.9 billion annual rate, spending was actually down somewhat from January’s revised totals, falling slightly

The housing market received another dose of good news late last week with delinquency rate reports from Fannie Mae and Freddie Mac, which both declined in February. The reports are the latest in a long line of positive developments

Sales of investment and vacation homes skyrocketed in 2011, with the combined market share jumping to its highest level since 2005, according to the 2012 Investment and Vacation Home Buyers Survey from the National Association of Realtors. That survey found that,

At our Top Producers event this year, we asked top producers in attendance how they felt the election would affect housing. Find out what they had to

An interesting nugget of information on contract failures, was tucked away in the National Association of Realtor’s latest press release on existing-home sales. Amidst the details on sales (which were down 0.9 percent monthly but up 8.8 percent year, in case