News / Features

NAR Members Voice Opposition on Dues Increase

RealTown poll results revealed that the majority of National Association of Realtors (NAR) members are opposed to membership due increases, with 2,502 (over 82 percent) members voting no on the Political Survival Initiative which would increase dues by $40/year

New Plan for Waterview Tower

Waterview Tower has been a prospective 90-story skyscraper, a potential 60-story hotel and office, and even a BASE jumping locale, but Chicago developer, Related Midwest now plans to morph the

Green Designation Program to be Updated in Late Summer 2011

The National Association of Realtors (NAR) has found that the desire for environmentally sustainable buildings is an ongoing trend, constantly gaining momentum, especially since the initiation of the Green Designation program in late

National Home Sales Steady: Local Home Values Decline

Nationally, home sales are steady, while prices have generally been dwindling for the past 57 consecutive months. However, Chicago’s first-quarter data suggests that the nine-county area is facing loss in both sales and

Home Sales Remain Steady But Home Values on the Decline

Zillow found that home values have been on the decline for 57 consecutive months, despite the National Association of Realtors tracking a rise in home prices in over 20 percent of metropolitan statistical areas, according to Wall Street

Residents of Hyde Park Condiminium File Lawsuit

Once known as the tallest building on Chicago’s South Side, the current 98-unit residential building located at 5000 East End Ave. in Hyde Park is quickly losing residents’ occupancy and patience. The building is currently facing a lawsuit over

A Buyer’s Ideal Market: Affordability in Chicagoland Housing

First quarter Illinois housing sales showcased the affordability in the current market, with nearly 70 percent of Illinois homes sold with price tags of under $200,000, and a median of $131,175, according to Illinois Association of Realtors

RE/MAX Signature Moves to Lincoln Park Office, Adds Agents

Linda O’Donnell, broker/owner of RE/MAX Signature, recently announced that the firm will be moving from their current office located in North Center to 2411 N. Clybourn in Lincoln

For Luxury Listings, 15 Percent of Sellers Hire More Than One Agent

According to data from LeapRE, about 15 percent of sellers with luxury listings* go through more than one agent to sell their home. Listings that went through five or more agents were miniscule – .085 percent – while about

Chris Knapp, Branch Manager, Guaranteed Rate, Inc.

Q: Why is a Jumbo Mortgage “Non-Conforming”? A: In the Chicago marketplace, a “conforming” mortgage is one that is below Fannie Mae and Freddie Mac’s threshold of $417,000.  Therefore, from a simple definition, a mortgage that exceeds this dollar

Freddie Mac Sets New Record

Freddie Mac sold a record amount of previously foreclosed or repossessed homes, with a total of approximately 31,000 homes sold in the first quarter, according to

Increasing Percentage of Homeowners Underwater

Real estate data analytics firm, Zillow, reported that more than 28 percent of US homeowners are currently underwater on their mortgages; data by CoreLogic in early March had previously measured this rate at 23

HUD Grants Promote Healthy, Safe Housing

In an ongoing effort to promote overall prevention of housing related health and safety hazards, such as recognizing and controlling lead-based paint, the U.S. Department of Housing and Urban Development (HUD) is now offering up to seven grants in

Freddie Mac’s Earnings Increase: First Time in Two Years

Freddie Mac’s net income gain for the January-March quarter marks the first quarterly gain in two years, with the last gain in April-June 2009, earning $676 million according to

New Bill Works to Expedite Short Sale Approval

Short sales can take months to approve, but with the help of a potential new bill, homeowners may find themselves receiving a response to short sale requests within a mere 45

Bank of America Increases Support Centers

Bank of America plans to open 28 new help centers, for a total of 40 help centers across the U.S., in order to accommodate troubled homeowners in need of mortgage

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