Real estate news & trends
Latest news from YoChicago
Foreclosures
From a RealtyTrac news release: An exclusive RealtyTrac housing market analysis of building permit data recently released by the U.S. Department of HUD for the first quarter, comparing it to foreclosure starts for the same time period at the national, state and city level, found the following: Nationwide single family building permits increased 27 percent ...
Read the full article →
Posted by Joe Zekas on May 16, 2013
Printers Row Lofts is an 8-story, 138-unit loft building at 732 S Financial Pl in the South Loop. The building, which is on the National Register of Historic Places, was converted to loft apartments in 1996 by Tony Rezko‘s Rezmar Group and converted to condos in 2003. We wrote about the conversion in the February ...
Read the full article →
Posted by Joe Zekas on May 1, 2013
Yesterday CoreLogic released its April MarketPulse Report (PDF, free registration required). The report includes a discussion of housing’s anticipated contribution to economic growth and an analysis of single-family rental supply and demand trends. Key findings in the report include: Increasing equity has revived buyer demand, and trade-up opportunities are increasing for some buyers. Investor demand ...
Read the full article →
Posted by Joe Zekas on April 24, 2013
Last week the ever-informative Calculated Risk blog posted a table showing the share of the market accounted for by distressed properties, i.e. short sales and foreclosures, in 13 major cities. The market share of distressed properties declined significantly year-over-year in March in a number of cities. Las Vegas and Phoenix, for example, saw year-over-year declines ...
Read the full article →
Posted by Joe Zekas on April 22, 2013
According to data released yesterday by CoreLogic, of the nation’s 25 largest CBSAs, Chicago had the third highest number of completed foreclosures (20,113) in the twelve months ending in February 2013, trailing only Atlanta and Phoenix. Chicago’s foreclosure inventory declined 1.3% year-over-year while the national foreclosure inventory declined by 21%. Yesterday’s CoreLogic news release: According ...
Read the full article →
Posted by Joe Zekas on March 29, 2013
CoreLogic released its January 2013 Shadow Inventory Report yesterday and issued the following news release: CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, reported today that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as ...
Read the full article →
Posted by Joe Zekas on March 27, 2013
RealtyTrac today released its Year-End and Q4 2012 U.S. Foreclosure and Short Sales Report, which shows a total of 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010. These foreclosure-related sales accounted for 21 percent ...
Read the full article →
Posted by Joe Zekas on February 28, 2013
Rogers Park developers periodically fall prey to a state of irrational exuberance. The peak of the most recent mania had already passed in May of 2008 when a 2-day survey of Rogers Park took us to more than 100 active condo conversions. It was already clear that the bubble had popped, and it only remained ...
Read the full article →
Posted by Joe Zekas on February 22, 2013
The Woodstock Institute recently released its report on foreclosure filings for the second half of 2012. Read the news release for a summary and analysis of the findings. The report details the number of foreclosure filings and sheriff’s auctions for each of Chicago’s 77 Community Areas, for each Chicago Ward, and for the 100 most ...
Read the full article →
Posted by Joe Zekas on February 6, 2013
Just over a year ago I visited the Springfield Vue condominium, a/k/a The Springview, at 1920 N Springfield, on the border of Logan Square and Hermosa. You can see the video from my visit, above. Every unit in the project has been in foreclosure at least once, and several have made multiple trips to Chancery ...
Read the full article →
Posted by Joe Zekas on January 22, 2013
RealtyTrac released its Year-End 2012 U.S. Foreclosure Market Report yesterday, and Illinois earned an unenviable spot in a number of its rankings. Illinois was in third place among the states in foreclosure inventory, i.e. the number of homes bank-owned or in some stage of foreclosure. Illinois’ foreclosure inventory amounted to 135,858 properties, comprising 9% of ...
Read the full article →
Posted by Joe Zekas on January 18, 2013
Back in 2006 a blogger calling herself the Woodlawn Wonder began writing I Hate My Developer, the saga of her efforts to solve the problems plaguing the small condo development she had bought into just off Jackson Park in Woodlawn. Early last year she stopped paying her mortgage and began waiting for the foreclosure process ...
Read the full article →
Posted by Joe Zekas on January 17, 2013
RealtyTrac released its Q3 2012 Foreclosure & Short Sales Report yesterday. In, Q3 24% of Illinois sales, or nearly in every 4, were foreclosure-related. The report: … shows a total of 193,059 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the third quarter, an increase of 21 percent from the ...
Read the full article →
Posted by Joe Zekas on December 7, 2012
CoreLogic released its National Foreclosure Report for October yesterday. The report provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic: There were 58,000 completed foreclosures in the U.S. in October 2012, down from 70,000 in October 2011 representing a year-over-year decrease of 17 percent. On a month-over-month basis, completed foreclosures ...
Read the full article →
Posted by Joe Zekas on December 4, 2012
Almost a year ago we wondered whether Occupy Chicago was using the homeless as cannon fodder by encouraging them to occupy foreclosed homes. A California attorney has just been disbarred for, among other acts, encouraging clients to break into and occupy their former home, which had been foreclosed. A group billing itself as Communities United ...
Read the full article →
Posted by Joe Zekas on November 21, 2012
RealtyTrac released its U.S. Foreclosure Market Report for October 2012 yesterday. The report shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 186,455 U.S. properties in October, an increase of 3 percent from September but still down 19 percent from October 2011. According to the report: One in every ...
Read the full article →
Posted by Joe Zekas on November 16, 2012
The following market update arrived via a news release from RE/MAX Northern Illinois: The seven-county metropolitan Chicago real estate market delivered a strong performance in October, with 43 percent more homes changing hands than in the same month last year. The increase in sales activity was especially pronounced in Cook County and the City of ...
Read the full article →
Posted by Joe Zekas on November 15, 2012
The three blue and gold 11-story towers of Edgewater‘s Catalpa Gardens make a colorful statement up close and from a distance. The 126-unit complex’s other distinctive features include glass walkways connecting the towers, a rooftop deck with outstanding views – and unit values that have radically imploded. When we looked in on the building two ...
Read the full article →
Posted by Joe Zekas on November 7, 2012
Crain’s Chicago Real Estate Daily reported late last week on late-September federal court judgments against developer David Dubin. Dubin has been ordered to pay more than $15 million to PNC Bank in connection with failed developments in Bridgeport and Brighton Park. We’ve reported on the Lofts at Bridgeport Place (pictured above) for more than six ...
Read the full article →
Posted by Joe Zekas on October 29, 2012
The following market update arrived via a news release from RE/MAX Northern Illinois: The residential segment of the metropolitan Chicago real estate market extended the upswing experienced in the first half of 2012 through the third quarter, registering the largest number of third-quarter home sales since 2007. According to an analysis by RE/MAX, home sales ...
Read the full article →
Posted by Joe Zekas on October 26, 2012
Subscribe: