All Entries Tagged With: "Chicago Real Estate"
What We Need Is Another Home Buyer’s Tax Credit
Each month this year that Chicago real estate sales have increased, experts have attributed the rise to the Federal Home Buyers Tax Credit.
July was the first month that buyers could not qualify for that tax credit, so analysts were expecting a drop in sales.
They got it.
According to the Illinois Association of Realtors, total home sales [...]
Almost One-Third of All Chicago-Area Homeowners are Underwater
I’ve got good news and bad news about Chicago-area mortgages.
I like to get the bad news out of the way: According to a Zillow report on the second quarter of this year, 28.9% of all home mortgages in the Chicago area had negative equity, which means those homeowners owed more on their loans than their [...]
Chicago and Suburban Home Sales Keep Moving Up
The Chicago real estate market is showing signs of stabilization.
On Thursday, the Illinois Association of Realtors (IAR) reported that existing home sales went up for the 10th straight month in Chicago and throughout Illinois.
According to IAR’s latest report, there were 2,526 total home sales in June 2010 in the city of Chicago; that’s a 27.5 [...]
Congress Approves Extension to Home Buyers Tax Credit
Worried you aren’t going to close on time to get your Home Buyer Federal Tax Credit? You aren’t the only one.
Congress has approved a plan that would give buyers an extra three months to close on their homes in order to qualify for the tax credit.
Senate Majority Leader Harry Reid, D-Nevada, introduced the measure, which [...]
Site Owners Must Secure Their Holes or be Fined
Evidence of the struggling Chicago real estate market can be seen around the city via open building foundations and excavation sites from stalled construction projects that couldn’t get funding. Now, owners of those sites could face another financial struggle.
The Chicago City Council Buildings Committee has approved an ordinance introduced by Mayor Richard M. Daley that [...]
