No Credit Discrimination:City Council Follows State

Posted on September 17th, 2011 in Green Housing, Market Conditions, Real Estate Videos.

All but 9 aldermen have signed on to a new ordinance that will prohibit city employers from discriminating against people based on credit history. This is a positive and just move. There will be exceptions for financial related employees. Illinois has a law on the books already. The city ordinance is coming out of committee […]

Good Design Bad Math

Posted on September 10th, 2011 in All Articles, Bridgeport, Green Housing, Market Conditions, Pilsen.

Designed by The Vari Family – architects from Bridgeport – this building at Halsted and Archer leans onto traffic with modern cues as tens of thousands of eyes hit this corner each day. Unfortunately the units were designed very large and the unit count and prices do not allow the sales and pricing to fit […]

Reduce Defaults In Housing

Posted on August 24th, 2011 in Market Conditions, Real Estate Videos, Short Selling/Buying.

Lets let everyone refi at 4%!!! The idea has been around for years — and was pushed in 2008 by the smarter ones in the bunch called “the administration” … This plan would not create debt / deficit. It would make it extremely easy for everyone who owns a hone to refinance at these low […]

Lowest Sale Pace In 14 Years!

Posted on July 20th, 2011 in Market Conditions, Short Selling/Buying.

For third month in a row sales of existing single family homes dropped. This only brings to the forefront the important role of short sales as a way to sort out this market. There is no sign of appreciation and it’s likely stabilization and demand is out past 2014. Here’s what the NAR site says: […]

BOA Slowing Down

Posted on July 19th, 2011 in Market Conditions.

Bank Of America is down shifting away from doing as many loan originations. In my opinion why go to BOA for a loan … Especially now. I always thought BOA was too bog for a purchase loan anyway. They are so large and have such “one size fits all” loan products. Bank of America Company […]

New Short Sale Law

Posted on July 19th, 2011 in Market Conditions, Short Selling/Buying.

Banks Can’t Double Down On Homeowners Anymore in CA b One of the most important things my clients’ attorney needs to make sure we get in a short sale closing is a properly worded release letter from the Sellers’ lender saying that non pursuit of any deficiency is agreed and that the deficiency will be […]

Taxes Assessments Delayed Drop

Posted on July 4th, 2011 in Market Conditions.

Taxe assessments to be dropping -it often takes several years for property tax assessments to catch up with the state of the housing market, the real impact of the housing implosion is only now being felt in many city budgets. For the first time since the Great Recession began, property tax collections fell during the […]

9.3 Million Pay Over 50% Of Income To Mortgage

Posted on July 4th, 2011 in Financing, Market Conditions, Short Selling/Buying.

Cost burden …. The Great Recession has exacerbated the housing affordability challenges that had been building for a half-century, according to researchers at the Joint Center for Housing Studies of Harvard University. The Center says its last measure of home-cost challenges showed that 9.3 million homeowners paid more than half their income on their mortgage […]

Some Healthy Numbers

Posted on July 4th, 2011 in Market Conditions.

Some healthy signs we are shufting as a culture in the numbers. The average household owes nearly $119,000 on mortgages, credit cards, auto loans and other debt, according to an Associated Press analysis of government data. That’s down from more than $125,000 in 2008. Normally when people pay down their mortgages, they see their home […]

A Glimpse Of Hiring Stirs Hope 

Posted on February 1st, 2011 in All Articles, Market Conditions, Other Real Estate.

The nations unemployment rate is still in the higher altitude over 9.3, but a National organization that surveys companies and industries found a 39 percent increase in projected hires to occur in the first half of 2011 in the real estate and finance industries. It won’t be enough to stir housing to recover but a […]

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