News / Features

C.A.R. Golf Classic Raises $1,800

Chicago Association of Realtors raised $1,800 at this year’s Golf Classic. Members and other participants in the C.A.R. Annual Golf Classic raised funds by raffle contributors at the

Weichert Real Estate Affiliates (WREA) Announces New Franchise

Sudler International Realty has joined with WREA as Weichert, Realtors – Sudler International, according to president/CEO and sole broker/owner of Sudler International, Sergio

Chicago’s Median Home Price of $172,000 Still Unattainable for Many

“According to the Center for Housing Policy, metropolitan Chicago is the 72nd most expensive housing market in the nation, with a median home price of $172,000,” said the Chicago Tribune. In 2010, the median price was $203,000 and Chicago

New Chicago Ordinance Requires Lenders to Maintain Vacant Properties

Chicago’s City Council passed an ordinance which will “raise the liability of financial institutions who have an interest in a property,” including vacant properties in the process of foreclosure, said Housing Wire. Previously, these responsibilities and complaints would have

RE/MAX, Prudential and Century 21 Top Home Buyer/Seller Satisfaction Study

According to Agent Genius, seller satisfaction rose 4.9 percent with brokerages since 2010, but buyer satisfaction dropped slightly, as tracked by J.D. Power and Associates’ fourth annual Home Buyer/Seller

RealtyTrac Discovers Lower Foreclosure Activity in 84 Percent of Metro Areas

RealtyTrac’s Midyear 2011 Metropolitan Foreclosure Market Report studied 211 metropolitan areas, finding that foreclosure activity through June dropped on a year-over-year basis in 84 percent, or 178, of the areas. In addition, the report found that the top ten

PHSI Continues Steady Climb in Midwest and South, but Closings Still Dropping

This June, NAR’s Pending Home Sales Index rose 2.4 percent to 90.9 – an increase over last month as well as a 19.8 percent increase over June 2010, according to Calculated Risk. However, Fannie Mae is skeptical as to

Realtors’ Suggestions for Saving the Housing Market

The National Association of Realtors, along with everyone else, would like to save the housing market. According to the Chicago Tribune, these are their ideas for fixing the industry (which differ from ours): creating safe mortgage financing for qualified

Average Home Equity Down, Wealth Gap Widens

Home equity decreased across all racial groups in 2009: whites’ average home equity fell to $95,000; in 2005, a white’s home equity was $115,364 on average; blacks’ home equity fell to $59,000 in 2009, creating an equity loss of

Waterview Tower Project Officially Acquired by Related Midwest

Related Midwest officially closed on the Waterview Tower project yesterday, the Wacker Drive building that has been unfinished since

Despite Varying Forecasts, Experts Agree on 2011-2012 Home Sale Increases

Everyone has a different outlook on the housing market, but where you get your information from can also alter your opinion for better or worse. The truth is, nobody is entirely sure what will happen to home sales or

Chicago’s Case-Shiller Index Inches up From April to May- Prices Increase with Buyer Demand

According to the most recent Case-Shiller indices, Chicago experienced a 1.7 percent (non-seasonally adjusted) monthly increase from April to an index of 112.01 in May, but a -8.1 percent drop since last May, following a 0.4 percent drop from

Massive Renovation of Old Post Office Planned

The owner of the Old Post Office recently announced the ambitious plans for a massive reconstruction of the property. Included in the plans is a tower that, if built, would be the tallest building in North

Predicting Future Demand with the PRIZM Model

In an effort to predict the demands for building within the current housing market, Builder Magazine installed the PRIZM model, a tool that is made up of 66 segments typically used to describe “demographic, psychographic, and behavioral similarities in

IAR Corrects Miscalculations, Publishes a New Report

The Illinois Association of Realtors (IAR) identified the cause of its inconsistent price calculations previously reported, and published a new report of Chicago’s median

What NAR and NAHB Spend Compared to Google and Facebook

A recent comparison by Agent Genius showed that while many criticize Google and Facebook’s annual lobbying costs, those for NAR and NAHB are within the same

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