Chicago Illinois Real Estate Blog

Leonard F. Sacks has listed for sale a four-bedroom, 3.5-bath home at 1535 W. Jackson Blvd. in the Near West Side for $975,000.
Sacks paid $675,000 for the property in Dec. 2003. The 2,923-square-foot house built in 1893. Mario Greco of Prudential Rubloff Properties is the listing agent for the home.
Sacks is a managing partner at [...]

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The average fixed-rate for a 30-year mortgage climbed above 5 percent for the first time in two months, leading to a decline in mortgage applications.
The average fixed rate on a 30-year mortgage was 5.05 percent this week, up from 4.94 percent last week, Freddie Mac said Thursday. The last time rates were above 5 percent [...]

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The newly elected Obama adimininstrating is calling for slashing mortgage deductions for high income taxpayers. Included,of course, his home town of Chicago’s mortgage interest rates.
The new proposal would (there is no reason it will not pass) cap at 28% the tax for itemized deductions. Leaving the wealthier Chicagoans and Americans in higher tax brackets with [...]

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QI bought a new condo seven years ago in a development with the intent of leasing it to supplement my retirement income. I was able to successfully rent the unit for three or four years. The board then initiated a rule not to allow any more rental units and insisted that I sell my unit [...]

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The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.

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If your livelihood depended on the survival and perpetuation of an endangered species, you’d probably study it six ways from Sunday in order to understand its care and feeding.
The same is true with real estate agents and those increasingly rare birds, the home buyer and (successful) home seller. Each year, the National Association of Realtors [...]

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The Bush administration said Wednesday that it was changing its nearly-moribund mortgage rescue plan in an effort to spark more lenders and homeowners to participate.
The Department of Housing and Urban Development’s Hope for Homeowners mortgage rescue plan, which Congress toiled over for months before passing legislation last summer, took effect Oct. 1.
The program aimed to [...]

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With the exception of the one-year adjustable rate mortgage (ARM) mortgage rates fell during the week ended October 9 according to Freddie Mac’s Primary Mortgage Market Survey.
The 30-year fixed-rate mortgage (FRM) carried an average contract interest rate of 5.94 percent with 0.6 point compared to the previous week when the average was 6.0 percent also [...]

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After surging during the week ended September 25, mortgage rates were largely unchanged during the week ended October 2 according to results released on Thursday by Freddie Mac.
The Primary Mortgage Market Survey indicated that the 30 year fixed-rate mortgage (FRM) averaged 6.10 percent with 0.6 point compared to the previous week when it came in [...]

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Mortgage rates continued to set record 2008 levels with long term rates moving up slightly during the week ended June 26, and short term rates increasing modestly but in double digits.
The information comes from the Primary Mortgage Market Survey released from Freddie Mac as financial markets waited to see the outcome of the Federal Reserve [...]

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