Skip to main content

Chicago Area Homes Sales Declined 26% in 2008

The Illinois Association of Realtors reported today that 2008 home sales in the Chicago PMSA were just 68,676, nearly 26% fewer sales than 2007. For those lucky enough to find a buyer, the median sale prices last year was 17.3% lower than 2007.

The PMSA includes Chicago, suburban Cook, and the eight surrounding counties.

There were 20,589 Chicago home sales in 2008, 25% fewer than in 2007.

Well. on the bright side, however gloomy the current market conditions might seem, there are still buyers buying and sellers selling. Also, I am pleased to note that my "market share" of Chicago house and condo closings last year increased over 2007. Here's to doing even better in this new year.

Popular posts from this blog

THE EQUIFAX DATA BREACH AND YOU—6 STEPS TO TAKE NOW

Identity thieves hit a major credit reporting agency—hard. Millions of consumers’ confidential identity information has been compromised.

Equifax, one of the big three credit reporting agencies announced that a massive security breach took place earlier this year. Offenders accessed data sets of 143 million US consumers.

Zoiks! Real estate scams up 480%

by Michael H. Wasserman

You read that right, A 480 percent increase according to a May 2017 PSA from the FBI. Its Internet Crime Complaint Center (IC3). Scammers are targeting wire transfers with alarming frequency. As state law mandates the use of wire transfers for most real estate transactions, it's vital that every buyer, seller and professional be vigilant to prevent fraud. Here's what to look for and what you can do to help protect your money - your deal.

Check the Source: Wire transfer fraud typically starts with a "phishing" email that looks ok at first blush, but is a fake. Real-looking but fraudulent emails may contain:

A slightly different email address. It could be just one character off. Or using a correct name but from a free account, like gmail, aol or yahoo.

Legit-looking logos and email footers. Remember, logos can be downloaded from public websites from title companies and banks.

A working phone number for confirmation. So, if/when you call the…

CITY of CHICAGO CONDOMINIUM REFUSE REBATE DEADLINE APPROACHING

by Michael H. Wasserman, Attorney at Law

The City of Chicago offers refuse rebates to condominium and homeowner associations that have give or more units. Rebates are paid one year "in arrears" so that the next round of rebates will be against waste collection costs incurred in 2013. The 2013 rate is $25.00 per unit. .

Applications for the rebate must be submitted to the associations' local aldermanic office ASAP (eg, in the 48th ward, no later than January 12, 2014).

A full description of requirements, qualifications and forms needed to request the rebate is available from the Chicago City Council, Department of Finance.