January 2010

First Time Homebuyer Credit Questions and Answers

January 30, 2010

The IRS has posted questions and answers about the homebuyer tax credit.  Basically, you qualify if You haven’t owned a home in the last 3 years You purchase a home as your primary residence between 4/8/08 and 5/1/10 You close on the home before July 1, 2010 Combined income for a married couple phases out [...]

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Chicago Pied-a-terre Condo Opportunity on Lake Shore Drive

January 28, 2010

For an in-town pied a terre or investment property, this one bedroom at 3950 N Lake Shore Drive is worth looking at… For only $ 125,000, it’s across the drive from Waveland golf course and the harbors, the tennis courts and the lakefront bike paths.  At the corner of Irving Park and the drive,  you [...]

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East Ravenswood Real Estate Update

January 23, 2010

New on the real estate market in East Ravenswood this week is 4630 N Paulina, listed at $ 1,395,000… The home is on an extra deep lot, typical of East Ravenswood homes.  In this case – 165 ‘ deep.  Tricked out with gorgeous finishes, it is the only one left from Landrosh. Other homes for [...]

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Graceland West Real Estate Update

January 22, 2010

This month, 1422 W Berteau closed.  Originally listed at $1,395,000 , it closed this week at $ 1,019,000 after 202 days on market. The 20′s brick and stucco 3 bedroom home was situated on a 30′ lot. This is the only home that closed this month — the following homes are currently for sale… Street [...]

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Ugly Bathrooms

January 21, 2010

DIY is having an ugliest bath contest… The funny thing is – as a Realtor, I’ve seen all these and worse! As of this writing, the pink bath is in the lead.  Personally, I think the silver foil wallpaper is frightening. What do you think? To see pretty baths in beautiful homes, call Anne Rossley [...]

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Lakewood Balmoral Real Estate Update

January 20, 2010

Lakewood Balmoral has been quiet this month.  The entry property (lowest price) is 5323 N Wayne, reduced to $ 595,000.  It’s situated on a 33′ wide lot, and  the neighborhood resales are high enough to support a lovely rehab on this property. The top end of the market remains 5511 N Lakewood — Dave Kirk’s [...]

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How do Chicago home price declines compare to the suburbs’?

January 18, 2010

I have a suburban client contemplating a cr0ss-country move, and like everyone else who bought 2-5 years ago, he’ll be taking a loss on his home.  In negotiating his relocation package, he contemplated how this loss would compare to what he’ll gain by buying in his new city. Did home prices decline as much there [...]

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Best Time to List Your Home for Sale

January 10, 2010

Traditionally, Chicago’s real estate market kicks off after the Super Bowl.  Our market is usually busiest between February and April — ahead of the suburban market. Why?  Probably because of the traditional May 1 – Oct 1 lease renewal dates.  Why and how that started is a mystery to me, but it makes sense that [...]

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Prudential Rubloff Leads Lakeview Home Sales

January 8, 2010

In preparing a listing appointment this week for a Lakeview Single Family Home seller, the market data was interesting… 1.  Prudential Rubloff does about twice the single family home business in the Lakeview Neighborhood. 2.  The market is looking more healthy — with 92 active listings and 63 sales in the last 6 months, we [...]

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Andersonville – 1665 W Olive – Price Reduced to $ 579,000

January 7, 2010

It’s not often one can find a darling single family home in Andersonville for less than $ 600,000, but now 1665 W. Olive is available for $579,000. This historic 1899 house has lovely hardwood floors, a newer kitchen, a sunroom, and a large back yard.  There’s a family room and office in the lower level [...]

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