2012: CHICAGO HOME PRICES FINALLY UP…RISING 1.1%; IS THE MARKET IMPROVING?

Chicago’s housing market has finally given real estate agents something to smile about.   It was announced this week that area home prices rose 1.1% in April, which is the first increase after seven straight drops.  The overall market saw a 1.3% increase over 20 states.

The Standard & Poor’s Case-Shiller index of Chicago-area single-family homes, reported that local  housing prices rose 1.1 percent from March to April.  While this may seem like a small increase, the fact that it is growing not declining, brings hope that the market is finally shifting in the right direction.

Is the market really improving?   Well, according to many Chicago real estate agents, business is good and they are busier than they have been in a very long time.  Investor’s and first-time buyers are out in full force and most are finally eager to pull the trigger.  Rents continue to rise so many are converting back to homeownership.

The current surge of investor’s has created bidding wars, which may have something to do with the turn in home prices.  If they continue to bring cash deals to table, foreclosed property pricing is certain to see larger jumps than the 1.1%.  Banks certainly welcome the opportunity to receive more money for their distressed properties and are not complaining.

If you are currently in search of a new home…this may just be the start of a new upward trend.  Sitting on the fence is no longer an option, if you are serious about taking advantage of historically low-interest rates and incredible deals.   Visit CHICAGO HOMES to search for amazing properties.

While this news is certainly good overall, it still saddens me to see so many homeowner’s still losing their homes.  If you want to at least avoid foreclosure, please consider a short sale.  Watch video to see if you qualify.

Read more: http://www.chicagorealestatedaily.com/article/20120626/CRED0701/120629870/chicago-area-home-prices-rise-in-april-after-seven-straight-drops#ixzz1yvbGQPEh

CHICAGO: NEW COSTCO OPENING IN 2ND WARD AT 1430 S. ASHLAND; GRAND-OPENING 6/28/12

Costco Opens 6/28/12

The announcement of a new Costco opening in the 2nd ward in Chicago has area residents excited!  After many years of Alderman Fioretti leading the charge, it finally is becoming a reality.  The discount grocer is set to open this Thursday 6/28/12 at 8AM, so have your shopping cart ready!

Located  in the popular Illinois Medical District at the corner of 14th and Ashland Avenue, it is certain to draw a crowd.  This is the only the second Costco to open within the City of Chicago limits and it’s long overdue.  Local residents will now have the opportunity to take advantage of incredible savings, within the neighborhood.

Great news indeed!  The Costco website offers a map and hours for the new store at 1430 S. Ashland.  While their website says the location is in the South Loop…it’s close enough!  Some may call this University Village, Near West Side, or Medical District but it depends who you ask.

LOOKING TO BUY OR SELL HOUSING IN CHICAGO?  SELECT A GREAT REAL ESTATE AGENT!

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2012 CHICAGO BULLS PRACTICE FACILITY MOVING INTO THE CITY; THANKS TO MAYOR RAHM EMANUEL

The new Mayor of Chicago is really finding ways to improve the city and win fans.  Mayor Rahm Emanuel’s latest success story has the world-famous Chicago Bulls champs, planning a move to a new practice facility downtown.

READ FULL STORY via 2012 CHICAGO BULLS PRACTICE FACILITY MOVING INTO THE CITY; THANKS TO MAYOR RAHM EMANUEL.

CHICAGO HOUSING SHORTAGE LEAVE BUYERS & INVESTORS HOMELESS

The Chicago Tribune published an article about the housing shortage in California.  They are seeing housing inventory shrink faster than the decline in the market back in 2007.  But frankly, the property shortage and multiple offer situation is heating up in Chicago as well.  In recent month’s many buyers and investor’s have been stunned to find their dream home or investment opportunity is also three other prospects as well.

As a real estate agent it’s amazing to see just how fast the shortage of housing has suddenly occurred.   Just a few years back you could not give away a home.  Who’s the culprit?  Well, first -time buyers and investors have hit the market in droves.  This includes foreign investor’s with a lot of cash to spend in the U.S.  Multiple offer situations are on the rise and many investors are losing out on their bids; creating a rise in pricing.  Some first-time buyers are also having trouble finding a home, because they are getting outbid by cash buyers who are mainly investors.  Talk about a buying frenzy.

The housing crisis (in a new way) has taken a shift and anyone still sitting on the fence could be too late.  If you are considering taking advantage of historically low-interest rates and home savings of 30% – 50% off, you better act quickly or you will miss out.   Worse than that, you may just end up with the “leftover” inventory when you could have purchased the gem.

Need a great Chicago real estate agent?  Contact Britta Rivera Venture Group today.

CHICAGO 2012: HYDE PARK RECEIVES 5.2 MILLION IN SUBSIDIES FOR HOTEL; IS PRESIDENT OBAMA THE REASON?

The Chicago Tribune is reporting the Chicago’s Hyde Park neighborhood has just received financial support.  Aldermen officially approved up to $5.2 million in subsidies for a 131-room hotel being developed in the Hyde Park neighborhood.

It’s not surprising that the $28.6 million project, located in Harper’s Court at 52nd Place, has received political backing.  With it being so close to President Obama’s Chicago residence, it is win-win for everyone.  Does the President have something to do with it?  Well, you be the judge.

Smart Hotels LLC and The Olympia Companies is developing the much-needed Hotel.  I cannot remember the last time one was built in the neighborhood, and I grew up there.   This should offer a great opportunity for neighborhood jobs and a fresh appeal to the area.

It also will come in handy for the Secret Service while in town, where do they stay now?

DO YOU NEED TO SELL YOUR HYDE PARK HOME?  CONTACT A PROFESSIONAL REAL ESTATE TEAM HERE.

2012: LINKEDIn PASSWORDS HACKED TODAY; 6.5 MILLION USER’S AFFECTED

CNN has just reported that passwords have been hacked for over 6.5 LinkedIn user’s. The ”World’s largest” and very popular social networking website is primarily used to stay connected with business associates. The source of the problem has not yet been revealed and the possible suspect is still unclear.

The use of these passwords could cause havoc within the business community. Can you imagine an imposter reaching out to your professional contacts with distasteful messages?

READ FULL STORY via 2012: LINKEDIn PASSWORDS HACKED TODAY; 6.5 MILLION USER’S AFFECTED.

6/6/12: U.S. STOCK MARKET SURGES; GAINS 286 POINTS AFTER EUROPE DEBT CRISIS NEWS

Investor’s were excited to hear that the U.S. stock market experienced its strongest gain of 2012. On Wednesday 6/6/12 stocks surged, pushing year-to-date figures in the black. The positive spin came as news that a new plan to cure the debt crisis in Europe may be underway.

After seeing stocks plummet after the jobs market report was released earlier in the week, many were on edge. However, with stocks gaining 286 points today, investor’s will likely sleep well tonight.

READ FULL STORY via 6/6/12: U.S. STOCK MARKET SURGES; GAINS 286 POINTS AFTER EUROPE DEBT CRISIS NEWS.