Chicago Real Estate Reports

Location - Education access

2012-02-22T15:55:00.000-08:00

Location, location, location - Part 2 – Education

From pre school to post graduate studies Bucktown and Wicker Park has the options and the opportunity to reach your goals. Our parents work with the locals schools to ensure the best quality education is available to their children. We have several great public schools to walk to and others that are available options. To find out more on the Chicago Public Schools for your address go to http://schoollocator.cps.k12.il.us/ Our neighborhoods have multiple private schools providing choices to parents and offer quality pre-school education and care. High Schools and Colleges are easily reached by the great transportation options we talked about last week. Our local demographics show many residents have post graduate degrees or are working towards higher education goals.

Chicago-area home sales post best January in five years - Residential News - Crain's Chicago Business

2012-02-22T15:53:00.000-08:00

“Motivated buyers and sellers moving in what has been a mild Chicago winter have helped move both distressed and traditional properties,” Bob Floss, president of the Chicago Association of Realtors, said in a statement. "

Read it all here:

Chicago-area home sales post best January in five years - Residential News - Crain's Chicago Business

Location - transportation +

2012-01-26T14:12:00.000-08:00

The mantra in real estate has always been “location, location, location.”

In Wicker Park and Bucktown, we have several location strengths, beginning with our easy access to the Blue Line and hence to downtown and our airports. CTA buses are readily available, as are taxis. Metra schedules provide an easy link to the suburbs or Loop, and a favorite way to attend Ravinia concerts in the summer. Bicyclists enjoy the bike lanes on Damen and Milwaukee , as well as on Armitage. There’s new orange bike racks, too.

Those that drive have many ramps in which to enter and exit the Kennedy Expressway (I-90/94) and those in the know know that there’s some great side streets where you can usually avoid congestion, too. All of these location-related boons continue to make Bucktown and Wicker Park a desirable location in which to live, work, and play.

Tax Preparation 2012

2012-01-17T11:18:00.000-08:00

Spaces January 15, 2012

Tax preparation season is upon us. Now is the time to create a Taxes 2011 folder for all the pieces that come in the mail and to collect the information you will need to fill out your return. Home ownership provides you with deductable mortgage interest and property taxes. If you bought or sold real estate, or refinanced, this past year, pull out the HUD or RESPA form that was part of your closing documents and provide that to your tax preparer. Consult with a CPA or tax professional for more details on this and deductions for the new child in the family, education expenses and charitable donations. As with everything supporting documentation is very helpful.

Bucktown/Wicker Park closings this past week: 1 Detached single family houses, 2 Attached condos. 0 2-4 unit building:

Detached Single

1406 N Bell, 4 bedroom, 3.1 bath, $622,000

Attached Single

1641 W Le Moyne #3, 3 bedroom, 2.1 bath, 1 parking space Condo-Duplex, Penthouse, $399,000

1304 N Wood #3, 3 bedroom, 2 bath, garage space, Condo Duplex, Penthouse, $445,000

Quick take - What’s on the market now?

Type, (number), Max, Average, Median, Min Price

Detached (64 properties), $4,400,000, $1,019,329, $762,500, $250,000

Attached (161 condos), $1,099,000, $378,416, $375,000, $79,000

2 -4 units (31 properties), $849,900, $498,925, $499,900, $179,900

*** Information sourced from MREDLLC; 1/15/12. Residential properties - Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Have a topic you’d like to see explored or a real estate question send it in.

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

Freddie Mac to give unemployed homeowners a break

2012-01-08T18:57:00.000-08:00

When job loss is the reason you are unable to make your mortgage payments the banks have the ability to defer your payments for up to 12 months now. See the following article for more on this assistance in avoiding a short sale or forclosure.

Freddie Mac to give unemployed homeowners a break

New Years Resolutions 2012

2012-01-05T12:09:00.000-08:00

Like most Americans, I'm not very loyal to my New Years Resolutions. It just seems like too much emphasis on change in the month of January. I tend to spread my resolutions around over the course of the year. That said, the surveys of people this 2012 New Year have shown the usual weight loss plan has been beaten out by building a savings plan this year. So I wish you all well on them both.

The following article takes a look at New Year's Resolutions and how you can point them at your home. I'm continuing with #6 and adding more of #9

http://www.houselogic.com/home-advice/home-thoughts/houselogic-new-years-resolutions-home/

Chicago-area homeownership rate dips | Residential News | Crain's Chicago Business

2011-11-03T18:49:00.000-07:00

Chicago-area homeownership rate dips Residential News Crain's Chicago Business

Some very important points in this article. How do you think this affects you?

New buildings and new plans in Streeterville

2011-11-02T13:14:00.000-07:00

Affordable housing plan dies in Streeterville. Should it have?

Read more: http://www.chicagobusiness.com/article/20111102/BLOGS02/111109941/affordable-housing-plan-dies-in-streeterville-should-it-have#ixzz1ca4HOeuv

The above article by Greg Hinz brings up some good points and good ideas.

Graphical image of housing price comparisons by zipcode

2011-10-17T12:46:00.000-07:00

Based on information from Fiserv the Crains Chicago Business has made the following image available. Some zip codes are down less than others compared to last year. Take your time and check it out...

http://www.chicagobusiness.com/article/20111013/PAGES/111019967

From John Fritchey Cook County Commissioner -- Property Tax Workshop

2011-10-07T09:38:00.001-07:00

Upcoming Property Tax Workshop for Taxpayers in Lakeview Township Nobody wants to pay more in taxes than they are supposed to. If your property taxes are too high, you have every right to appeal them. Lakeview Township will soon open for appeals with the Cook County Board of Review, providing taxpayers in the township an opportunity to file an appeal of their taxes. To help you with this process, I, and Cook County Board of Review Commissioner Michael Cabonargi, will be hosting an appeals workshop to answer any questions you may have and to assist you with filing an appeal. Details are as follows: When: Thursday, October 20, 6:00-8:00pm Where: Saint Luke, 1500 West Belmont Ave What: Representatives from the Board of Review will explain the appeals process, answer questions and assist taxpayers in filing their appeals. **Please remember to bring your most recent property tax bill**

For more information, please call Bridget at 773-871-4000 or e-mail bridget@fritchey.com

Understanding Your Property Tax Bill It's that time of year again...property tax bills are making their way into your mailboxes. Because many of you may have seen the assessed value of your home go down, you might feel a sense of sticker shock when your property tax bill has increased. Or maybe your assessment stayed the same, but your bill grew sharply. As a way to help my constituents understand why this might be happening, I want to provide this property tax overview to answer some questions you may have. Taxing districts - from schools and parks to libraries and cities - need money to operate. They get this money from property taxes. Generally speaking, from one year to the next, tax levies will remain the same regardless of changes in property values. Taxing districts still need money to cover their bills even though home values in the area may have gone down (the same holds true if home values increase).

If my property value assessment went down, why are my property taxes going up? An assessment is basically an estimate of what a piece of property is worth. This valuation of the property helps decide what part of the local property tax levy will be billed to the property - basically, it helps the Clerk figure out who pays what. But remember, your assessment is only part of the overall equation... Tax rates are calculated by using the amount of dollars levied by the taxing district, the value of all taxable property located within its boundaries, and a state-issued equalization factor.

There are two main reasons your property taxes may have gone up this year: 1. The major City of Chicago taxing districts have asked for a 3.4% increase in property tax revenue - going from $2.001 billion last year to $2.118 billion this year. Much of the overall increase is due to the Chicago Board of Education asking for a $117 million dollar increase in funding. To put it in simple terms, if the whole pie gets bigger, so may your slice... 2. The Alternative Homeowners Exemption (also known as the 7% Homeowner's Exemption), is decreasing per state law and will be fully phased out in 2 years. As the the temporary exemption is phased out, the relief provided by it gets smaller.

Spaces - Real Estate Transaction - Mortgage Contigency

2011-09-30T08:43:00.000-07:00

The mortgage contingency is often key to a successful transaction. This is provides that the buyer will obtain a mortgage for a set amount, down payment, rate and duration by a particular date. That date is usually the amount of time that the buyer and their bank has determined it will take to confirm all the details of their financing. The buyer, and their attorney, must notify the seller if the date cannot be met, and request an extension of this date. With no notice the contingency is waived. If the buyer cannot get the financing described, the seller can find a commitment for them, in a specified time frame. To show that they have the ability to meet this contingency, buyers provide letters of pre approval from their banks. To a seller the best offer does not have this contingency, and would be a cash offer.

Spaces - Real Estate Contingencies -part 2

2011-09-27T18:47:00.000-07:00

The second frequent contingency is for attorney review time period. Offers to purchase are made on standardized forms and the details are worked out between the buyer and seller during their negotiations. Once both have signed and the contract is accepted by both parties, the contract is given to the attorneys for each side of the transaction. They have a specified time to review the contract, and the legal details of the property and to make any clarifications to the details that were worked out during negotiations or issues that arise from inspection or any other due diligence that is done on the behalf of their clients. The attorneys cannot change the price that was offered for the property, but they do negotiate credits for items found in inspection or in the legal description of the property or its title, as well as clarify and explain any condominium documents.

Chicago home prices rise for 3rd straight month | Residential News | Crain's Chicago Business

2011-09-27T18:44:00.000-07:00

Chicago home prices rise for 3rd straight month Residential News Crain's Chicago Business

Good news... and yet... be realistic ....

Assistance in making mortgage payments

2011-09-21T13:53:00.000-07:00

Illinois Launches Hardest Hit Program
The new Illinois Hardest Hit program aims to help working Illinois families who are having trouble making mortgage payments due to unemployment or under-employment stay in their homes. The Illinois Housing Development Authority (IHDA) has partnered with the U.S. Department of Treasury to offer temporary mortgage payment assistance. Qualified homeowners can receive up to $25,000 over 18 months as a 10-year loan to keep mortgages current and make ongoing payments, including fees and penalties. Go to http://lyris.illinoisrealtor.org/t/334220/16491058/3867/0/ to learn more.

Chicago Videos 2011 and 1948

2011-09-14T11:39:00.000-07:00

Thanks to this blogger for creating a link to two wonderful films of our City. Check them out.

http://www.chicagonow.com/chicago-ground-up/2011/09/chicago-then-now-two-short-videos/

Spaces - Real estate transaction contingency 1

2011-09-12T19:44:00.000-07:00

One of the common contingencies to an offer to purchase a property is for an inspection. This is generally done by a licensed inspector hired by the buyer to take a more detailed look at the property. The inspector spends time testing the mechanical aspects of the property and looking for any safety or heath defects that should be addressed before changing ownership of the property.

Garfield Conservatory races against the weather to protect historic plants

2011-08-20T09:46:00.000-07:00

All of us gardeners are mourning the plants we lost in our own gardens this year during the hail storm... The damage to the Conservatory is so much more severe. I'm sure it will be fabulous again one day...

Garfield Conservatory races against the weather to protect historic plants

Rahm Emanuel announces $20 million loan pool to target foreclosures - Chicago Sun-Times

2011-08-20T07:20:00.000-07:00

Rahm Emanuel announces $20 million loan pool to target foreclosures - Chicago Sun-Times

This funding could be a real advantage to some of these great neighborhoods. I'll try to get more details on the ordinance and the qualification details, and post them here as well

Bucktown's six corners sees burst of development | News | Crain's Chicago Business

2011-08-03T18:24:00.000-07:00

Bucktown's six corners sees burst of development News Crain's Chicago Business

What Groupon knows about its subscribers | Consumer | Crain's Chicago Business

2011-07-12T14:11:00.000-07:00

What Groupon knows about its subscribers Consumer Crain's Chicago Business

The above article alerts us to the good and the bad abilities of our SmartPhones. Is a great local deal the trade you are willing to make for information about where you are and where you have been?

Existing home prices show gains in Chicago

2011-06-22T16:19:00.000-07:00

Here's an article from the Chicago Tribune - good news but not great news - It's really too soon to make any real decisions on where this housing market will go next.

Existing home prices show gains in Chicago

Green Scene: Tracking the life span of City Trees

2011-06-02T18:58:00.000-07:00

Here's an article about the folks that are tracking the success of a charcoal suplement for the trees along Milwaukee Ave in Bucktown and Wicker Park.

http://www.chicagobusiness.com/section/blogs?blogID=ann-dwyer&plckController=Blog&plckBlogPage=BlogViewPost&uid=16ea2629-7e90-46f0-a706-dd6152764513&plckPostId=Blog%3a16ea2629-7e90-46f0-a706-dd6152764513Post%3afd2c398d-ac42-4d53-9460-437f4b03e54d&plckScript=blogScript&plckElementId=blogDest

Chicago Resources Available OnLine

2011-05-22T20:09:00.000-07:00

Some of the questions that buyers ask while looking at new homes are never answered by the REALTOR® because to respond would be in violation of the Fair Housing Act. Questions like - How safe is this neighborhood? Or Who else lives in this building? REALTOR® must provide equal professional service without regard to the race, color, religion, sex, handicap, familial status, national origin or sexual orientation of any prospective client, customer, or of the residents of any community. REALTOR® may not encourage any group into or away from any property.

Chicago School Data is available at http://schoollocator.cps.k12.il.us/

Chicago Crime Data is available to you at the Chicago Police Department website. Here is the link to the ClearMap for Bucktown http://gis.chicagopolice.org/website/ClearMap/viewer.htm?POLICEDIST=014 It's very easy to go to any area of the city and great information for residents.

As the line goes in Hill Street Blues - "Let’s Be Careful Out There." Crimes happen in every neighborhood.

Square footage: An empty real estate statistic? | Inman News

2011-05-19T07:37:00.000-07:00

Here's someone else's commentary on the square foot measurements in housing....

Square footage: An empty real estate statistic? Inman News

Downtown apartment rents approach 2007 high | Trend Of The Week | Crain's Chicago Business

2011-05-16T20:13:00.000-07:00

For many reasons......

Downtown apartment rents approach 2007 high Trend Of The Week Crain's Chicago Business

Cafe, store with local food planned for West Town | News | Crain's Chicago Business

2011-05-16T20:12:00.000-07:00

This sounds like a great addition to the area! Looking forward to it!

Cafe, store with local food planned for West Town News Crain's Chicago Business

Priced Right Sells Homes

2011-05-09T20:26:00.000-07:00

Home sellers move beyond denial, accept lower values when setting price Business Of Life Crain's Chicago Business

Maybe your house is not over $2 million dollars, but the logic in this article applies to every price point in today's market.

What to do when you are concerned about your parents well being.

2011-05-09T20:05:00.000-07:00

'The Talk' With Mom and Dad

Sue Shellenbarger, February 23, 2011

When the time came for Kathy Peel's mother and father to consider moving into an assisted living facility, Ms. Peel tried reasoning with them, citing examples of friends who were happy they had made the move.
When that didn't work, she took a business approach. Ms. Peel and her husband Bill convened a conference at her parents' kitchen table in Memphis and helped them write a three-page "strategic plan." Her parents, Morris and Kathryn Weeks — both retired businesspeople in their late 80s — joined in, talking about their goals and helping list dozens of pros and cons to staying in their home.

Among the pros the family agreed on were the Weeks' "positive attitude" and desire to share care for each other. But the cons loomed large, including the fact that no family members lived nearby to provide emergency care in a crisis. Ms. Peel had been forced to make 10 trips to Memphis from her home in Dallas in 2009 to help her parents with health problems, from her mother's heart ailment to her father's failure to notice her bout with dehydration. Ms. Peel printed the plan, and after mulling it for a few weeks, the Weeks agreed to move to a senior-living community in Memphis.

It's an agonizing discussion for adult children: whether elderly parents can no longer live on their own. Some 42% of adults between ages 45 and 65 cite the topic as the most difficult one to discuss with their parents, according to a 2006 survey of 1,000 people by Home Instead Inc., an Omaha, Neb., provider of in-home care. And 31% said their biggest communication obstacle is getting stuck in the parent-child roles of the past.
"We take on old family roles," says Paula Spencer, a senior editor at Caring.com, a caregiving website, and a speaker on elder-care issues. "We don't want to rock the boat. We're concerned about parents' privacy, worried about the consequences, thinking, 'Maybe Dad will hate me if I move him to assisted living.'"

While many seniors do fine at home, others need long-term care facilities or a home aide. It's good to start such conversations early, says Paul Hogan, chairman of Omaha-based Home Instead Senior Care, which provides in-home caregivers. A good principle is "the 40-70 rule; if you are 40, or your parents are 70, it's time to start talking," he says.

Make time to discuss issues without rushing. Research shows adult children who feel hurried during conversations about their parents' changing care needs may tend to push them toward the most efficient option, such as getting more help or moving to an assisted-living facility prematurely, rather than taking the time to encourage them to work on staying independent as long as possible.

About 70% of people over 65 are expected to need some long-term care services at some point in their lives, such as help with dressing or bathing, in-home services from an aide or nurse, or care in an assisted-living facility, according to 2008 federal data. More than 40% will spend time in a nursing home. While the average time seniors need help is three years, 20% are expected to need long-term care services for more than five years.

Take time to assess a senior's entire situation before jumping to conclusions about their weaknesses or desires, says Jake Harwood, a professor of communication at the University of Arizona, Tucson. A parent whose husband dies may suddenly seem unable to care for herself, failing to clean the house or keep up with bills. But the bereaved spouse may simply need more contact with friends and social support to get motivated again.

Also, adult children sometimes misunderstand parents' reluctance to move, says Kenneth Robbins, a clinical professor of psychiatry at the University of Wisconsin in Madison. "They may resist leaving the house because they think their kids and their grandkids are going to miss the house," or they fear that a close neighbor will be left alone, says Dr. Robbins, who is also a senior medical editor at Caring.com. Seniors also may fear having to leave cherished belongings behind or being unable to make friends in a new setting. And some see leaving their homes as an acknowledgment of their increasingly frailty — and mortality.

Robin Joy, of San Francisco, says she helped her widowed mother Gail, 77, hire a professional organizer after figuring out that cleaning out the family's Evanston, Ill., home of 30 years was an obstacle to her moving. Gail says she put her name on a retirement home's waiting list, but passed up a couple of opportunities to move in because the need to sort through all the papers and belongings "seemed overwhelming."
The organizer has since helped Gail get stacks of papers and stuff under control, and she is planning to move soon.

Dementia, of course, raises added issues. People with dementia may "no longer be able to make decisions in their own best interests, and they begin to misinterpret what other people are trying to do for them," Dr. Robbins says. Seniors with dementia may become paranoid, depressed, or so confused that "life becomes a minefield of dangers," he says.

Appealing to a parent's values can help in such cases. Barbara Meltzer of West Hollywood, Calif., says that when her father died several years ago, her aged mother, who was living in Florida and had dementia, resisted Ms. Meltzer's plea to bring in a home health aide. The aide "would call and say, 'Your mother sent me home,'" Ms. Meltzer says.

So she turned the conversation with her mother to, "Please do it for me, Mom, because I'm worried about you." She also mentioned to her mother that allowing the aide to stay helped her by providing a job. "That worked, because my mother was a giver. She was Mother Earth. With her, it was always about helping somebody else," Ms. Meltzer says.

Eventually, she used the same approach to persuade her mother to move to California to live near her and other family members. "We love you so much and it's important to us that you're here," Ms. Meltzer says she told her. Her mother lived nearby for several years before dying last year at the age of 93.

Meanwhile, Kathy Peel's parents have moved into Town Village at Audubon Park, an independent senior living community in Memphis. The pros and cons in the plan they compiled with Ms. Peel and her husband have proven true. Ms. Peel travels often to see them, and the Weeks are considering moving again in the future, to Dallas, to make it easier for the Peels to help them out. "They have realized they really do need us," Ms. Peel says.

Source: The Wall Street Journal

Annual Bucktown Tree and GardenWalk

2011-05-09T19:54:00.000-07:00

It's time to mark your calendar for the Annual Bucktown Tree and GardenWalk.
Saturday and Sunday - July 9 and 10 - 11 am to 5 pm
Check In at the Welcome Table outside of Club Lucky at 1824 W Wabansia
This is where you can get your official GuideBook for a $5 suggested donation per person.
With the GuideBook in hand you have the map of the one mile square neighborhood and the descriptions and addresses of 100 gardens that are carefullly tended by the owners and residents. You also hold the ticket to unlimited free rides on the Trolley. Get on or off at any stop or one of our local supporting businesses. Enjoy the day exploring our green corners, roofs, yards and parkways. More activites will be added as the event gets closer. Check out http://www.bucktown.org/ for more information.

Spaces April 25, 2011

2011-05-09T19:46:00.000-07:00

It’s about that time to check your Credit Report. It’s simple and free at AnnualCreditReport.com which provides access to all three of the major credit bureaus. You can do each one free once a year, so the best deal is one every 4 months.

I will be finding out more about my buying ability as I’m in the market for a new car. It’s about time – 14 years is really too long to keep a car. Now I’ll be building my credit score by paying off the car on time every month. At the same time this loan will reduce my mortgage buying ability because it increases my debt to income ratio. Financing is all about balance. (PS – send me your suggestions for a new car – not too big, too flashy, too costly)

Bucktown/Wicker Park closings the last two weeks: 2 Detached single family homes, and 16 Attached homes!

1733 N Hoyne, 4 bedroom, 2 ½ bath home with garage, $780,000

1724 N Winchester, 4bedroom, 3 ½ bath home with attached garage $1,129,000

1937 N Hoyne #3, 1bedroom, 1bath, Condo, garage spot, $234,000

1927 N Milwaukee #204, 2 bedroom, 2 bath Lofted condo $240,000

1742 N Winchester #201, 2 bedroom, 1 ½ bath condo, garage spot $290,000

2213 W Wabansia #2A, 2 bedroom, 2 ½ bath condo garage spot, $310,000 (Foreclosure)

1441 N Wicker Park #3N, 2 bedroom, 2 bath condo, parking spot, $329,500

1731 W Crystal #A, 2 bedroom, 2 bath, Townhouse condo, garage spot, $365,000

1631 W LeMoyne #1, 3 bedroom, 2 ½ bath, Duplex condo, garage spot, $410,000

1640 W Beach #1E, 3 bedroom, 2 ½ bath, Duplex Condo, garage spot, $412,500

1372 N Dean #1, 3 bedroom, 2 ½ bath, Duplex, Condo garage spot, $416,000

1742 N Winchester #203, 2 bedroom, 2 bath, Lofted Condo, Penthouse 2 garage spots, $425,000

2218 W Belden #1, 3bedroom, 2 ½ bath, Duplex condo, garage spot, $443,000

1530 N Paulina #F, 3 bedroom, 3 bath, Duplex, Condo , garage spot $485,000 (Short Sale)

1530 N Elk Grove #D, 3 bedroom, 2 ½ bath, Townhouse, Condo on Courtyard, garage, $485,000

1717 W Julian #2, 3 bedroom, 2 ½ bath, Duplex Condo, garage spot, $530,000

2012 W Willow #C, 3bedroom, 3 bath, Townhouse-garage , $555,000

2028 W Division #4R, 3 bedroom, 2bath, Penthouse Condo, 2garage spots, $701,000

Summary Statistics – 16 Sold Condos -

(High, Low, Average, Median)

List Price, $769,800, $239,000, $444,931, $435,000

Sold Price, $701,000, $234,000, $414,437, $414,250

Listing Market Time, 306, 2, 115, 91

Market Time, 697, 2, 195, 168

Chicago-area foreclosure activity down 28% in first quarter | Residential News | Crain's Chicago Business

2011-04-14T13:54:00.000-07:00

An interesting and positive article to read.... Chicago-area foreclosure activity down 28% in first quarter Residential News Crain's Chicago Business

Common Contigencies to a Purchase Contract

2011-04-13T09:20:00.000-07:00

Spaces April 11, 2011

The offer was accepted - now what?
After the buyer and the seller have come to an agreement on the price and the terms of the home sale, it's time to work on meeting all the contingencies.

Inspection - In most sales, the buyer has a few days to bring in any inspector or other Licensed persons to examine the property and identify any health or safety defects. These are items that are not obvious to the buyer or seller. An example might be that the inspector looks at the basement sink drain and finds a leak. The buyer might ask the seller to have the pipe repaired or pay for the buyer to have it done at a later time.

Attorney Review - Both buyer and seller will have their attorneys look at the terms of the purchase agreement and the attorneys will come to agreement on any terms. This review is usually as long as the inspection period (or a few days longer) and the attorneys will confirm any responses to the inspection items.

Mortgage - Generally the last completed contingency, since the details of confirming the mortgage funding are the most time consuming. The purchase agreement includes a date by which the buyer and their lender must be able to agree that funding is available for this buyer and this property. The agreement also provides some limits for the loan rate and duration. (This is why it’s so important for buyers to be pre-approved!)

Condo Documents - The Condo Declarations and Bylaws, Rules and Regulations, Budget (current and previous year), Minutes and a 22.1 form will all need to be provided to the buyer for their review, and the attorney. Most are required during the attorney review period. They are also needed by the buyer’s lender who will confirm the financial stability of the condo association before authorizing a loan.

Other contingencies could be the sale of a previous home, pet rules, leases, or other items that both buyer and seller agreed to during negotiations and included in the Purchase Agreement.

In Bucktown/Wicker Park this week, there were six closings! Of the six, four were detached single family homes, and two were attached homes. They are as follows.

1850 N Wilmot, 4 bedroom, 3bath, Rowhome, private yard, garage, $595,000
1880 N Hoyne, 5bedroom, 3 bath +2 ½ baths, Contemporary renovation, attached garage, $1,624,625
1627 N Wolcott, 4bedroom, 4 ½ bath, 4+ Stories ultra modern new construction , $1,950,0001804 N Leavitt, 5 bedroom, 4 ½ bath, Modern open conversion of warehouse space, $2,770,000
1524 N Leavitt #1, 4 bedroom, 3bath, 2 garage spots, Duplex Condo, $399,000
1767 N Hoyne #L, 3 bedroom, 2 ½ bath, updated Townhouse Condo, Attached 2 car Garage, $575,000

*** Information sourced from MREDLLC;4/11/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Do you have a topic you'd like to see explored or a real estate question? Send it in. If you'd like more information on properties currently on the market or selling your home just drop me a note.

Green Thoughts for Pet Owners

2011-04-07T09:21:00.000-07:00

Get Earth-Day Ready: Reduce Your Pet’s Carbon Paw-print

Earth Day is on Friday, April 22. What better time to do a little more to help the environment? If you own a pet, there are lots of great things you can do. Here are a few tips to help you cut down on waste and raise your pet’s quality of life. You may even save a little money while you color your corner of the world green.

Scoop your poop.

American dogs and cats create 10 million tons of waste a year. By picking up after your pooch with biodegradable plastic bags or paper bags, you can keep your pet’s waste from spending years encased in plastic.

Clean green.

Here’s a great way to clean up your pet’s accidents on the rug or sofa without harmful bleaches and toxins. First, scrub the soiled area with club soda and let dry. Then, sprinkle with baking soda to help control odors. After an hour or so, vacuum thoroughly. The ACPCA also recommends using diluted white vinegar as an environmentally friendly alternative to commercial products. What’s more, you’ll save money on pricey pet cleaning supplies.

Give bottles the boot.

Offer your pet filtered tap water instead of bottled to drink. If you must use bottled in a pinch, be sure to recycle.

Dine in.

Want to know exactly what is going into your pet’s food? Make your own organic puppy or kitty chow. While the idea of becoming a fulltime pet chef may be too much, ask your vet about occasionally adding chopped apples, carrots, or greens to your pet’s usual feeding.

Walk this way.

Did you know that 40 percent of daily car trips in the U.S. are 2 miles or less? By strolling to the doggie park rather than driving, you not only save fossil fuels, you get in a little exercise to boot.

Throw in the towel.

As sheets or towels start to wear, re-use them as doggie bedding, to clean up accidents, or to dry your pooch off after bath time instead of blow-drying. Old towels also make a great chew toy: braid strips into a rope for playing tug-o-war.

Bulk up.

Buy pet supplies in bulk or the largest available size. You’ll not only throw away less packaging, you’ll make fewer car trips to the store.

Pick your litter.

Up to 8 billion pounds of cat litter wind up in U.S. landfills each year. Instead of using clumping clay litter, try products made from recycled newspapers or sawdust for a chemical-free, environmentally safe litter box.

Give back.

Doing a little spring cleaning? Before tossing your old treasures away, call local animal shelters and ask if they need used towels, bedding, leashes, litter boxes, and pet toys.

Distressed Sales as Comparables?

2011-04-04T12:35:00.000-07:00

It's a concern for everyone who chooses to sell their house or condo - how does the neighbors foreclosure or short sale affect my price and my chance to sell?

Appraisers need to look at the most recent sales - in the last 12 months. When there are multiple distressed sales, with lower prices, this is taken into consideration. The appraiser also must look at the condition of the property. In many cases the distressed sale is also not in the more desireable condition and will require significant work before it can be occupied.

If legislation like what is proposed below can do into effect, what will the outcome be?

http://chicagoagentmagazine.com/four-states-consider-legislation-barring-distressed-sales-as-comparables/?sms_ss=email&at_xt=4d9a16c5c3f99543%2C0

The Stress of Selling your home

2011-03-29T10:05:00.000-07:00

This writer has a great attitude and some valuable instights into the Seller Stresses of your house on the market now. My home wrecked me when I tried to sell it - chicagotribune.com

Bigger home loans won’t spur more foreclosures: Realtors | News | Crain's Chicago Business

2011-03-18T12:30:00.000-07:00

Raising the limit for Jumbo loans would give larger home owners more options for where to get their mortgages. In the Chicago market the limit of $417,000 does not seem like such a large home.

Read this article for more....

Bigger home loans won’t spur more foreclosures: Realtors News Crain's Chicago Business

Spring Cleaning Ideas

2011-03-18T12:24:00.001-07:00

Quick Green Spring Cleaning Ideas

It’s too early to do much outdoors here in Chicago, which leaves us working inside with the sun shining on us. Here’s a few ideas!

1. Open the windows. The best way to get dirty air moving out and fresh air moving in is to open the doors and windows. Feel the breeze.

2. Skip the air fresheners. Buy fresh flowers! An open box of baking soda, cedar blocks, or dried flowers also add natural fragrance to the room.

3. Use vegetable-based cleaning products like those made with coconut oil. Many detergents are made from petrochemicals, just like expensive gas.

4. Nature’s cleaning miracle, vinegar can be used to clean just about anything. Use it straight to clean kitchen floors or wash windows, mix it with baking soda and essential oils to clean sinks and more.

5. Recycle what you are not using. Donate first. Then take items that don’t belong in our Blue or Black Carts to the City of Chicago site at 1150 North Branch Street for disposal of these items --- use the link here http://www.cityofchicago.org/city/en/depts/doe/supp_info/household_chemicalscomputerrecyclingfacilityoverview.html

Bucktown/Wicker Park closings this week: 2 Detached single family homes and 5 Attached homes –

1510 N Wood 3 bedroom 3 bath renovated house $640,000

2012 N Hoyne 4 bedroom 3 ½ bath house $708,000

2039 W Webster 3 bedroom 2 ½ bath end unit townhouse w/garage $375,000

2031 W Pierce #1A 2 bedroom 2 ½ bath duplex down condo with garage spot $385,000

2308 W North #3W 3 bedroom 2 bath condo with garage spot $388,500

1750 N Wolcott #203 2 bedroom 2 bath loft condo w/garage spot $425,000

1919 W Crystal #102 3 bedroom 2 bath duplex w/garage spot Bank Owned $534,000

*** Information sourced from MREDLLC;3/13/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Have a topic you’d like to see explored or a real estate question send it in.

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

South Loop condo tower converting to apartments | Residential News | Crain's Chicago Business

2011-03-15T13:42:00.000-07:00

The rental market is strong in Chicago and this conversion will bring vitality to a vacant building.

South Loop condo tower converting to apartments Residential News Crain's Chicago Business

Growing Vegetables in Containers

2011-03-13T08:03:00.000-07:00

Spring is here! Well at least the calendar says so. Sunlight is increasing and temperatures will follow soon.

My thoughts are towards planting flowers and vegetables for the deck and the yard. I'm fortunate to have a garden, yet I supplement it with some potted plants. The following link is helpful with ideas, how to's and a list of plants that can do well in pots on the deck.

Enjoy!
http://www.howdididoit.com/home-garden/how-to-grow-vegetables-in-containers/

Electric Cars need Charging Stations....

2011-03-11T16:17:00.000-08:00

An interesting article, with some price points, for condo buildings or single family garages that might want a Charging Station for their new Electric Cars.

Charging stations pose obstacles for condos - chicagotribune.com

What do you think? I might plug in....

Spring Spaces in the Pipeline

2011-03-10T17:44:00.000-08:00

SPACES: Real Estate Usually Comes into its Own During the Spring Season
Made possible by Eva Bergant,

@Properties Realtor

Could it be Spring?!

We've had our first taste of warmer weather, the birds seem to be arriving, and the Flower and Garden Show is at Navy Pier!

In the spring we see the largest number of homes/condos on the market. Spring is about choices, and Real Estate, which comes into its own in spring, reflects this time of new beginnings and options. The market perks up. Snow has melted. Storm windows will soon be a memory.

Click to Enlarge

Check out the graphs of 1) the number places on the market and 2) the number of places under contract and sold in the last 24 months.

Are you thinking of making a change? Spring buyers go on the hunt while smart sellers and REALTORS know that there's no time like the spring to get prepared for a beautiful summer. Sellers who are part of the spring market have been working hard to prepare their homes for sale. Offers made now will most likely have mortgages approved in 30-45 days and closings in 2 months.

green shoes from John Fluevog that don't have anything to do with real estate-- as far as we know.

In Bucktown/Wicker Park, there were NINE closings this week: 2 were detached single family homes and 7 were attached homes. They are as follows:

1316 N Leavitt 4 bedroom 3 ½ bath modern 3 story home $712,000

1956 W Evergreen 5 bedroom 4 ½ bath restored Victorian with a 1 bedroom 1 bath coach house on a 25 x 171' lot $1,250,000

1232 N Milwaukee #4 2 bedroom 2 bath condo with parking Short Sale $279,000

1744 W Division #1 2 bedroom 2 bath duplex with garage Foreclosure $305,000

1890 N Milwaukee #4D 3 bedroom 2 bath penthouse condo with tandem garage parking $332.000

Flower earrings, like these, spotted at store B vintage, bloom all year long on your ears

1625 W North #201 3 bedroom 2 bath duplex condo with 2 garage spots Foreclosure $336,650

2010 W Potomac #C 2 bedroom 2 ½ bath townhouse with 2 garage spots $466,000 (market time 5 days!!)

1919 W Crystal #103 3 bedroom, 2 baths duplex with garage Bank Owned $515,000

1736 W Le Moyne #1 3 bedroom 2 ½ bath Duplex condo with garage $613,400

*** Information sourced from MREDLLC;3/7/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Do you have a topic you'd like to see explored, or would like more information on properties currently on the market, or selling your home, drop me a note at EvaB@atproperties.com

In brief: Bucktown | | Crain's Chicago Business

2011-03-10T17:06:00.000-08:00

a Vegan location coming to Bucktown.... read on....

In brief: Bucktown Central Park of Lisle Prime Group REIT News Crain's Chicago Business

Luxury Real Estate Market Report

2011-03-08T10:30:00.000-08:00

For those of you who are in the Luxury Market in Real Estate - please take a look at this LuxuryPortfolio Information Click to see presentation This includes World Wide Properties - I hope that you are in this market!

Check into the condo association when buying or selling

2011-03-03T18:09:00.000-08:00

On Monday February 28 the Chicago Tribune ran this article, by Mary Ellen Podmolik. It points out one large item that the buyer does not have the ability to change when looking at condos--the ability to obtain a loan when the building does not meet lenders' criteria.

There are at least five criteria that can eliminate a building from receiving a loan from any Fannie Mae, Freddie Mac or FHA lender (most of the lenders!).

1 How many units in the building are currently rented? Lenders prefer owner occupied buildings, so the lower the number the better.

2 What is the financial position of the condo association? What are the reserves? While there is no set rule, the budget needs to show that adequate reserves are kept. The association needs to be collecting all the monthly assessments, delinquent units may make the building unqualified.

3 Is there any outstanding litigation with the condo association? Financial liability by the association can cause lenders to walk away.

4 In a brand new building, what is the percent of units sold? For an FHA loan it must be at least 51%, for conventional loans generally over 70%.

5 How much of the building is commercial space? If it's over 25% of the square footage, no loan.

For more information, please read the Tribune article.

In Bucktown/Wicker Park there were nine closings this week.

Read all about them here.

Do you have a topic you'd like to see explored, or would like more information on properties currently on the market, or selling your home, drop me a note at EvaB@atproperties.com

About Eva:

Eva Bergant is a Bucktown resident and local Realtor with a community driven style. In addition to being the president of the Bucktown Community Organization (BCO), Eva has served as chair for the annual Bucktown Garden Walk for the past three years. You can reach Eva by email or at 312-543-6819.

Green Parking to be built in Bucktown

2011-02-25T16:58:00.000-08:00

Interesting elevators for your car when you come to the Bucktown and Wicker Park Area...

http://neighborhoods.redeyechicago.com/bucktown-wicker-park/bizspot/2011/02/23/robots-set-to-help-park-your-car/

Laughing Cow lands HQ in West Loop | News | Crain's Chicago Business

2011-02-23T09:47:00.000-08:00

Baby Bells and more - yummy

Laughing Cow lands HQ in West Loop News Crain's Chicago Business

Homeownership and occupancy

2011-02-22T14:04:00.000-08:00

This is one of several articles coming out today on Chicago home ownership.

Please note that this new low is 67.2%
In the second quarter of 2002, the rate was 66.7%....
From 1996 to 2010, the average local quarterly rate was 67.8%... The highest ever was 71.2% during third-quarter 2006.

Homeownership hits new 8-year low as residents seek refuge in renting Residential News Crain's Chicago Business

First Impressions Matter

2011-02-18T18:36:00.000-08:00

Spaces February 14, 2011

First impressions matter

It is widely accepted that a lasting first impression is made in 30 seconds or less, perhaps as little at 7 seconds. Whether you are meeting the date of your dreams, or searching for the home of your dreams the initial presentation counts!

Over 80% of home/condo buyers start their search online at national sites, or local ones. In either case the buyer is creating their first impression from the photos and descriptions available. The exterior “curb appeal” must present a welcoming face to the buyer – shining windows, great doorway, nice building, landscaping and decorating that shows it off well.

Decorating or staging your home is critical to position your home as better than the competition at that price. This can be as simple as rearranging furniture, subtracting items and adding current fashion touches, or hiring a professional to refurnish and redecorate rooms or the entire home.

A few of the easy and inexpensive tips are:

· Clean and shine everything. Add lamps that bounce light off the ceilings. Use light curtains open to the clean windows.

· Put away personal items while removing clutter and out of season items from the closets and rooms.

· Paint and make minor repairs.

· Use colorful accessories such as pillows, vases, and rugs. Keep the background more neutral so the buyer can see the space and how they will occupy it.

· Arrange furniture for easy traffic flow and obvious uses. Avoid blocking doorways and using rugs that trip.

· Keep kitchen counters clean and clear of all items, including the front of the refrigerator.

· Get new matching towels, bathmat and shower curtain. Put away your personal items. Shine and clean every bathroom surface.

· Display fresh flowers that complement your color scheme.

· Treat your outdoor space as a room in the home with its’ own décor.

· Make the home inviting to buyers and give them enough space to see themselves living there.

Bucktown/Wicker Park closings this past week***: One detached single family home at 1439 N Elk Grove, 4 bedroom 4 ½ bath stunning contemporary for $1,475,000. One attached single family 1919 W Crystal Unit 203, 2 bedroom 2 bath contemporary duplex $447,000.

*** Information sourced from MREDLLC; 2/13/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Have a topic you’d like to see explored or a real estate question send it in.

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

Downtown condo sales hit new low in 2010 | Trend Of The Week | Crain's Chicago Business

2011-02-14T12:10:00.000-08:00

Selling 498 units of the 3000 in the market is a tough loss ... and most of these units are in just 30 buildings downtown. New lower pricing has helped buyers and sellers come to agreements, but there is a long tail to this absorbtion.

Downtown condo sales hit new low in 2010 Trend Of The Week Crain's Chicago Business

More than half state's 2010 homebuyers were first-timers | Residential News | Crain's Chicago Business

2011-02-10T13:19:00.000-08:00

Here's a piece from Crain's Chciago Business.

First time buyers in Illinois were more than 50% of the buyers this year - mostly from the federal credit in the early part of the year. This also accounts for the significantly lower numbers of purchases in the later part of the year. ... a slow down of business... a lack of federal stimulus to maintain the interest in buying.....

More than half state's 2010 homebuyers were first-timers Residential News Crain's Chicago Business

CHICAGO Real Estate - Condo, 2859 W Palmer Street, CHICAGO, IL 60647

2011-02-09T12:27:00.000-08:00

CHICAGO Real Estate - Condo, 2859 W Palmer Street, CHICAGO, IL 60647

Under Contract!

Location, location, location

2011-02-07T17:24:00.000-08:00

Spaces February 7

The Blizzard of 2011 reminded us of a few things that matter -

Location. Anyone living close to a major street had a better chance of getting out that those living deeper in a Chicago neighborhood.

Access to public transportation. The Blue Line Blessing (and curse) falls on Bucktown and Wicker Park and surrounding neighborhoods.

Local businesses. Thanks to Chambers of Commerce and to all the small shops that provided neighbors with the missing essentials. Food, coffee, meals, banks

Good neighbors. Working together got sidewalks cleared, streets and alleys passable and many stuck cars moving again.

The saying in Real Estate is “Location, Location, Location” Those of us living in Bucktown and Wicker Park understand it! If you want to check out how other great neighborhoods stacks up, or your own address, go to WalkScore.com

Two detached single family homes closing this past week: (Average market time 485 days) 1870 N Wilmot 3 bedroom, 3 bath townhouse $555,000 and 1811 N Honore 4 bedroom 3 ½ bath house $1,460,000

Two attached homes closing this past week (Average Market Time 255 days)

1720 N Marshfield #110 2 bedroom 1 ½ bath loft condo with parking spot $325,000 and 2007 W Churchill #201 3 bedroom 2 bath condo, with garage $419,000

Have a topic you’d like to see explored a real estate question send it in.

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

*** Information sourced from MREDLLC; 2/6/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Mortgage insurance can be troubled borrower's best friend

2011-01-31T17:57:00.000-08:00

Here's an article that was in the Sunday January 30, 2011 Chicago Tribune ...

Perhaps this is another way for some troubled homeowners to continue to be homeowners....

http://www.macombdaily.com/articles/2011/01/13/lifestyles/srv0000010533900.txt?viewmode=fullstory

Simple definitions of short sale and foreclosure

2011-01-28T15:48:00.000-08:00

Pipeline Spaces January 24, 2011

What is a short sale? It is when the sale of the real estate does not produce enough money to pay off the existing mortgage(s) on the real estate. “coming up short” It succeeds when the borrower has significant financial hardship and the lenders agree that accepting a reduced loan repayment is an advantage to them over the fees and legal issues to get full repayment from the borrower or from foreclosure. The borrower is not automatically released from the responsibility to repay the balance of the loan. The borrower may be able to avoid this deficiency, thru legal actions and may be able to restore their credit status in 1 to 7 years.

How is this different from a foreclosure? In a foreclosure the real estate is sold by judicial sale and the lenders or lien holders are paid from any proceeds, in the order of their liens on the property. Foreclosure is begun when the lender files a suit against the borrower for not paying the mortgage as agreed. Since this is a legal process, it is time consuming and expensive. The negative effect on the borrower is larger and the process takes longer than a short sale.

What’s on the market in Bucktown and Wicker Park?

235 attached properties ranging from a 1 bedroom 1 bath condo to a 4 bedroom 4 ½ bath townhouse -

235 Active - Attached Single Statistics
	High	Low	Average	Median
List Price	$949,900	$95,000	$415,502	$389,000
Listing Market Time	637	1	125	106
Market Time	1179	1	193	147

92 detached properties range from house on Armitage being sold as land to a 5 bedroom 6 ½ bath designer home on two lots on Cortland.

92 Active - Detached Single Statistics
	High	Low	Average	Median
List Price	$4,700,000	$290,000	$1,101,258	$804,450
Listing Market Time	881	2	154	133
Market Time	1171	2	265	199

Have a topic you’d like to see explored please contact me.

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

*** Information sourced from MREDLLC; 1/24/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Working to give homeowners a graceful exit | Dealmakers | Crain's Chicago Business

2011-01-20T19:57:00.000-08:00

Working to give homeowners a graceful exit Dealmakers Crain's Chicago Business

Here's another view into short sales and foreclosures. Good read.

Eva Bergant, REALTOR
@properties

Does National Foreclosure data have real value?

2011-01-19T11:52:00.000-08:00

Spaces

National foreclosure data was released this week by RealtyTrak (Link to realtytrak.com or specifically to http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309 ). I was in California at the time, and the news coverage was upbeat. The report showed that there were nearly 14% less foreclosure filings in 2010 than in 2009. Wow! However here in Illinois data was the opposite, with just over a 15% increase in filings last year. Here’s how the numbers looked – of 2.9 million foreclosures nationwide (up 1.7% from 2009), California had 546,669 filings while Illinois had 151,304. According to their calculations this represents 4.08% of the housing units in CA, and 2.87% of the IL units. According to my calculations California accounts for 20% of the filings in the Nation, with 5% in Illinois. That’s reason to celebrate!?

Closings in Bucktown/Wicker Park in the last two weeks***:

5 Detached Single Family Homes (market time 1 -237 days, average 148 days, Average sold price of $1,109,200 is 91.5% of final list price) and 9 Attached Homes (market time 4 – 421 days, average 110 days, Average sold price of $352,733 is 92.1% of final list price)

1816 W Cortland 4bed 3½ bath house $790,000

1865 N Hoyne 4bed 3½ bath house $1,000,000

2112 W Charleston 5bed 3 bath house $1,070,000

1908 W Cortland 4bed 4 ½ bath house $1,225,000

1757 N Hermitage 4bed 2 ½ bath house $1,461,000

2233 W Shakespeare #3F 1 bed 1 bath Condo $170,000

1400 N Milwaukee #401 1 bed 1 bath Condo-Loft with garage $170,000 (Short Sale)

1240 N Paulina #3 2 bed 1bath Condo with parking $200,000 (Short Sale)

1728 N Damen #308 1bed 1 ½ bath Condo with parking $280,000

2251 W St. Paul #4G 2 bed 2 ½ bath Condo-Loft, Penthouse with garage $357,500

1728 N Damen #111 3bed 2 ½ bath 1/2 Duplex, Condo-Loft with parking $378,000

1332 N Wolcott #1 3bed 2 ½ bath Condo with garage $405,000

1931 N Damen #1S 3bed 2 1/2 bath Duplex Condo with Garage $478,000

1744 W Beach #2 3bed 2 ½ bath Duplex Condo with Garage $485,000

If you’d like more information on properties currently on the market or selling your home just drop me a note

http://myemail.constantcontact.com/Pipeline--Fun-or-Bust--Aldermanic-Candidates-Forum-Dispatch--and-Much-More.html?soid=1103369848010&aid=jDRxPWOfcF8

2011-01-12T19:04:00.000-08:00

http://myemail.constantcontact.com/Pipeline--Fun-or-Bust--Aldermanic-Candidates-Forum-Dispatch--and-Much-More.html?soid=1103369848010&aid=jDRxPWOfcF8

Check out my article in SPACES in this edition of the Pipeline

Jameson takes over Sotheby's brand from Sudler | Residential News | Crain's Chicago Business

2011-01-11T12:15:00.000-08:00

Jameson takes over Sotheby's brand from Sudler Residential News Crain's Chicago Business

Well this is an interesting switch in alignments between local Brokers. I wonder what changes will occur because of it?

Bucktown Wicker Park Year End Stats - 2010 vs 2009

2011-01-10T10:31:00.000-08:00

So how is the housing market in Bucktown/Wicker Park? Below are the summary data for 2010 and 2009. The number of completed transactions is lower in 2010, and the average sold price for detached homes is down by 2.7% to $840,251; with an average sale price of 92.6% of the list price in 2010, and 90% in 2009. The average sold price for attached properties, condos and townhomes, is down only 1% to $391,721; and sold price is 95% of list price for both years.

98 Sold - Detached Single Statistics for 1/1/10 to 12/31/10
	High	Low	Average	Median
List Price	$2,500,000	$189,900	$907,223	$849,450
Sold Price	$2,150,000	$200,000	$840,251	$797,500
Listing Market Time	806	1	92	54
Market Time	1007	1	170	114

113 Sold - Detached Single Statistics for 1/1/09 to 12/31/09
	High	Low	Average	Median
List Price	$3,999,000	$218,900	$955,332	$800,000
Sold Price	$3,685,587	$220,000	$863,351	$770,000
Listing Market Time	368	1	90	65
Market Time	928	1	180	134
300 Sold - Attached Single Statistics for 1/1/10 to 12/31/10
	High	Low	Average	Median
List Price	$899,900	$84,900	$410,237	$398,500
Sold Price	$855,000	$78,000	$391,721	$378,000
Listing Market Time	590	1	78	49
Market Time	766	1	123	80

342 Sold - Attached Single Statistics for 1/1/09 to 12/31/09
	High	Low	Average	Median
List Price	$1,499,900	$22,900	$414,297	$389,450
Sold Price	$1,300,000	$16,000	$396,708	$380,000
Listing Market Time	459	1	85	64
Market Time	624	1	126	91

What does that mean? Bucktown and Wicker Park on the average are maintaining values. I’m not saying that you are able to sell for the price you paid for your place, but our neighborhood pricing does appear to be stabilizing. Last year homes that sold were the ones that were priced correctly. This is very true in 2011. Buyers are aware of the value of the property they are viewing, and are not interested in homes that are priced above the market price. Today there are 91 detached homes on the market ranging in price from a $180,000 foreclosure to a $4,700,000 designer home, with a median price of $799,900. There are 237 attached homes listed with a median price of $399,000 and ranging from $142,500 to $949,900 in listing price. (see table below) If people keep buying at the rate of the last two years, all of these places could be sold in the coming year, but there will always be new properties coming on the market and these current market times are higher than the averages for the past year. Sellers need to price right or be prepared for a long wait and subsequent price reductions.

Statistics of currently available properties in Bucktown and Wicker Park:

237 Active - Attached Single Statistics
	High	Low	Average	Median
List Price	$949,900	$142,500	$414,748	$389,000
Listing Market Time	623	2	140	113
Market Time	1165	2	208	165

91 Active - Detached Single Statistics
	High	Low	Average	Median
List Price	$4,700,000	$180,000	$1,142,868	$799,900
Listing Market Time	908	5	164	132
Market Time	1157	8	262	197

If you’d like more details on pricing to sell or details on properties currently on the market just drop me a note at EvaB@atproperties.com

*** Information sourced from MREDLLC; 1/1/2009 – 12/31/2010 and current as of 1/10/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

New Year New Connections - Bucktown, Wicker Park Pipeline - Credit Report

2011-01-05T09:16:00.000-08:00

My first column is posted in the Pipeline - Click on SPACES.....

http://myemail.constantcontact.com/Pipeline--Happy-New-Year--Photos--Hopes--Events--Links--Spaces-.html?soid=1103369848010&aid=X4xYQpm3vts

Here's the content of the first column! Keep in touch

Residential SPACES:
Made possible by Eva Bergant, @Properties Realtor

Fulfilling one of my many New Year Resolutions, this is my first column for The Pipeline. If one of your goals for 2011 is to buy, sell, or rent real estate, the first thing you should do is confirm your Credit Score.

AnnualCreditReport.com provides access to all three of the major credit bureaus. You can do each one free once each year, so the best way to stay on top of your score is to do one free search every 4 months. If you want your FICO credit score (FICO is the score lenders use to determine your credit risk) you will have to pay $7.95. If your report shows what you know to be true, you are on the right track.

Repairing or improving your credit score takes months or years. Empower yourself by knowing your score in advance. Recently, a buyer client did not know until she applied for a mortgage that someone had used her good credit to open and run up a store charge card. It took four months to get the store to agree to remove the delinquency and for the credit score to start to move up.

WHAT'S SOLD LATELY? In Bucktown/Wicker Park, six detached properties closed in the last two weeks of 2010**:

2340 W Charleston $265,000 (foreclosure);

2152 W Caton $885,000 (Short Sale);

1938 N Wood $1,025,000;

1652 N Bell $1,380,000;

1549 N Honore $1,600,000

1858 N Leavitt $1,994,891

Five attached properties closed**:

2233 W Shakespeare #1F, 1bed/1 bath, $147,500

1735 N Paulina #421, 1bed/1bath loft w/garage, $245,000

1870 N Oakley #1870, 3bed/3.5 bath Townhouse w/garage $334,000 (Foreclosure);

1944 W Evergreen #A 2bed/2bath Condo w/garage $340,000;

1737 N Paulina #306 2bed/2bath Condo w/parking $412,500

1945 N Wilmot #3 3bed/2bath Penthouse w/garage $454,000.

Market Times on said listings ranged from 21 to 261 days, with an avg. selling price of 94% of the final listing price. If you'd like details on any of these properties, or ones that are on the market, drop me a note, or call 312-543-6819.

** Information sourced from MREDLLC; closed properties from 12/20/2010 - 12/31/2010 as of 1/3/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

WHAT'S NEXT? - You tell me! Send your ideas, questions, and suggestions, and I'll incorporate them into future columns.

Old Orchard to debut 'green' food court | Consumer | Crain's Chicago Business

2010-12-06T13:34:00.000-08:00

Old Orchard to debut 'green' food court Consumer Crain's Chicago Business

Old Orchard to debut 'green' food court
By: Kate MacArthur December 06, 2010
(Crain's) — Rich Melman’s Lettuce Entertain You Enterprises is getting some competition for healthy mall food-court fare.
Westfield Group’s Old Orchard shopping center in Skokie plans to open a “green” food court next summer, offering organic and sustainable foods from open kitchen stations.
The 22,500-square-foot format, created for Westfield by Richtree Market Restaurants Inc. of Canada, will include a range of specialties from seafood and pasta to sushi and pastries, as well as vegetarian and gluten-free options. There also will be indoor and open-air dining spaces.
Like Lettuce’s Foodlife market in Water Tower Place, the menus will change seasonally.

I hope that this provides good food at a reasonable price and that they has somthing for everyone! I certainly won't miss the tastes of Chinese food on a toothpick.

One fourth of sales foreclosure-related in third quarter | Residential News | Crain's Chicago Business

2010-12-03T12:46:00.000-08:00

One fourth of sales foreclosure-related in third quarter Residential News Crain's Chicago Business

That accounts for the declining median prices in the area. Distressed sales at Distressed prices. and often Distressed properties. If you are able to work through the issues and buy forclosed property you are getting great deals now.

Wicker Park new restaurant MC Bistro

2010-12-01T18:17:00.000-08:00

from Chicago Magazine

Remember Chicago magazine’s Best of Chicago feature from December 1995? No? Maybe you’ll remember the restaurant our erstwhile colleagues said had the best booths in the city: Julie Mai’s Le Bistro, the Andersonville French-Vietnamese spot that closed in 2000. The booths were cozy, private nooks with switches to control the lights and call the servers, and the semi-exotic food and nice wine list added up to a romantic atmosphere. Well, Julie Mai is back, at MC Bistro (1401 N. Ashland Ave.; 773-489-5600), a new 110-seat French-Vietnamese spot in Wicker Park that opened last week. Mai, partnering with her sister Thanh Chi, offers Vietnamese classics such as spring rolls and papaya salad, as well as pho of which she’s proud. How does it feel to be back? “It feels good,” she says. “I love food. Now I think I can do better than before.”

Sounds like I need to get there soon - Eva

2010-11-24T12:18:00.001-08:00

This Recession Is O-vah!: ‘Zombie Bears’ Edition

November 24, 2010 by Brian Summerfield · Leave a Comment
Filed under: Economics

By Brian Summerfield, Online Editor, REALTOR® Magazine
The latest in a crowd of pronouncements that the recession is officially behind us comes from economic analyst Barry Ritholtz, whose book I reviewed a while ago. Ritholtz, one of the most bearish commentators during the downturn, believes that the economy has finally turned a corner (hooray!), but adds that “zombie bears” who have staked their reputations on the idea that we’re stuck in the doldrums won’t acknowledge it.
Now, calling the end of the recession isn’t exactly a new trend. (In fact, I wrote about it more than a year ago.) But Ritholtz may well be right. I, for one, hope he is. And the chorus he’s joining seems to have gotten much louder in the past few months. (If they’re correct, though, why the need for QE2?)
Here’s the thing, however: Even if they are right, Ritholtz and other economists are speaking about the recession in a very narrow, literal sense. When they say it’s over, what they referring to is a return to a sustained period of growth at the macroeconomic level. They aren’t arguing that economic normalcy for consumers is just a few weeks or months ahead, or that we’ll return to full employment soon, or that housing values will shortly ratchet back up to 2005 levels. Most importantly, it doesn’t mean that continued recovery is a sure thing.
What it could mean, though, is that financial institutions, feeling more secure, will start to lend again. Businesses of all sizes could slowly but surely begin hiring again. And consumers who rightfully put the brakes on spending and began saving at a rate not seen in more than a decade may begin to put some of their accumulated capital toward a home purchase.
In short, it might signify that after searching for a floor during these past couple of years, the economy is finally starting to move in the right direction. That’s something we could all be thankful for.

What's the truth in real estate today?

2010-11-24T09:10:00.000-08:00

http://realestate.yahoo.com/promo/4-biggest-lies-in-real-estate.html

The above link provides some warnings to the public that are good to keep in mind while searching for your home online. Personally, my ethics are high and I do not embellish descriptions on my listings, but there is no way to be sure that what others do is as ethical. ... Unless you go there to see with your own eyes!

I always tell my clients (both buyers and sellers) to look online and make some decisions from the descriptions and the photos provided, and then let's go see these places in real life. Do they match up with what was online? or are they better? or worse? Condition is one consideration. Location is another. Drive over to the area, look for the transportation and entertainment options you want. Walk around, look at the area, talk to people. And call me to arrange the appointments to see the inside of the places you like.

Downtown condo sales ‘kind of glued in place’ | Trend Of The Week | Crain's Chicago Business

2010-11-22T11:32:00.000-08:00

Downtown condo sales ‘kind of glued in place’ Trend Of The Week Crain's Chicago Business

So what does this mean? Condos are selling, just not at the "flying off the shelf" rate of the boom years. Which means that the best condos will sell. At the new prices. Everyone needs to keep in mind that the past is gone and we need to focus on the opportunities that are in front of us today and in the months ahead. That old adage is true - "don't cry over spilt milk"