The home prices in 20 US cities continued to rise in November when compared to a year ago by a number arounf 13.7 percent according to the S&P / Case-Shiller index of property prices.
This is causing a boost in household wealth and is showing that household balance sheets are looking healthier overall and this economic health is making the house values increase overall.
Home prices continue to rise even though there was an increase in the mortgage interest rate last May. This is real appreciation for homeowners and rising equity values.
Home appreciation may slow down in the future while the Federal Reserve trim stimulus and mortgage interest rates climb back up over time.
Overall the experts are looking at the housing market as being on track to recovery after the large collapse that happened a few years ago. This is great news for homeowners and people looking to buy or sell a home in the Spring.
Superstar Oprah Winfrey has listed her very last Chicago condo in the famous Water Tower Place for only $7.75 million. This unit is a giant 57th and 56th floor condo that has been expanded multiple times since the original purchase in 1985.
In total this condo is over 9,500 square feet with four bedrooms, five full bathrooms and two half bathrooms. Two kitchens, multiple living spaces, lots of storage room and the master suite takes up an entire floor.
This is a once in a lifetime opportunity if you are able to afford the price. You can live in the condo of one of the most famous women in Chicago.
The latest reports that Chicago Home Prices are showing the largest advances in 25 years!
The Case Shiller Home Price Index shows that Chicago has been experiencing a double digit year over year single family home price increases.
Single family homes showed an increase of 10.9%. The biggest year over year increase in 25 years! Condo prices were up 14.2% over last year which set a record in the 18 year old index.
These are definitely good signs for the housing market and hopefully for the entire economy. We’ll keep an eye on the latest trends and let you know what is going on in the Chicago housing market.
Winter is an interesting time in Chicago for buying and selling real estate. Especially in this current time of economic uncertainty.
From what we’ve seen, the luxury housing market has come back strong in even these cold winter months like November, December and January.
Highly priced lots and homes are getting bids over asking price on the first day of them coming to market. This includes properties listed over 1 million dollars.
These trends are making the Chicago housing market look like good things will come around during the warmer summer months if you’re looking to sell you luxury home.
Overall the home sales in Chicago slowed down a bit in October but still posted the most active October since 2005.
Watching home sales in a nine county area there were a bit over 9300 home sales in October 2013 which beat Oct 2012 which only had about 8500 home sales. Within just the city there were a bit over 2200 homes sold in Oct 2013 which was up 7.5% from 2012.
This trend is still very promising for the housing market and the economy and watching the home sales over the rest of 2013 will really be interesting to watch.
If you’ve been keeping an eye on the Chicago Real Estate Market you will have seen that is is trending up from the lows it hit in 2009.
We’ve taken a look at the Case-Shiller Home Price Index for Chicago and it’s very clear that the overall trend of home and condos are still on the rise even after the national housing market crash. Condo prices are also back to the levels they were at back in 2002 which is looking pretty good for the housing market in general.
The Illinois Association of Realtors Monthly Sales Data tracks the monthly units sold for the Chicago Primary Metropolitan Statistical Area. Their data shows that home sales in Chicago and the surrounding area have rebounded over the past three years and in August peaked at the highest level in the last seven years that data has been collected.
Any way you look at it the market seems to be getting better for condos and homes in the Chicago and Streeterville area.
Navy Pier is one of Chicago’s top tourist attractions and attracts visitors from all around the world in addition to those living nearby. By choosing to buy or rent in Streeterville you can live steps away from Navy Pier and enjoy the events and fireworks on a regular basis.
Navy Pier was first built during World War I and was originally a 3000 foot pier that was used as a Navy training center. Since then it has been transformed into a very popular tourist attraction. It is now a carnival, food court and a boat dock all rolled into one. One attraction on the pier is an area called Crystal Gardens. It is an interesting place complete with 70 palm trees, a glass enclosed atrium, dancing water fountains and several children’s rides.
Another attraction at the pier is an IMAX theater. If you have ever been to an IMAX movie theater you know what a great experience it is. With IMAX you feel like you are in the movie so if you have never experienced one you should check it out. This is not the end of the attractions though. There are also many other attractions including the Chicago Children’s Museum, an ice skating rink, a Shakespearean theater, a 15 story tall Ferris wheel and many different restaurants and beer gardens. By now you can understand why the Navy Pier is such a popular Chicago attraction and draw many people to live near it.
When you visit Navy Pier you are greeted with a 19 acre Portal Park upon Chicago’s lake front. There are lots of spots that you can hang out at and see when it comes to the Navy Pier Chicago. With all these great things to do, it is no wonder that many people want to live at the residential building nearby Navy Pier.
How to figure out what you can afford to buy a house is always on the minds of all buyers. Although it may sound complicated, it is much easier to figure out than you might think. If you are planning to purchase a home, the very first thing that you need to consider is your budget. Knowing how much you can afford will help you decide what kind of house you can buy. The joy of homeowner is incredible. There are so many things that you need to consider before you can decide to purchase a house.
When you are thinking of buying a home, the first thing that you must truly consider is your budget. Admit it or not, buying a house can be quite a tedious job since there are a lot of factors that you need to consider. Especially in terms of finances. By asking yourself the simple question of how much can you afford to pay each month is an important start.
Knowing how much you can afford to pay will allow you to make the important decision of what you can afford to purchase if at all.
Here are the step that you need to take to figure out how much you can afford to buy.
This are the things that you need to consider before you have to decide in buying a home.
Gorgeous old town Streeterville condo, located at 1372 N. Mohawk Street is currently for sale.
This intimate three bedroom and two bath is a one of a kind urban living condo in Streeterville with 1800 sq. foot of space.
The condo has a separate dinning room and a separate huge master suite.
There is a private terrace, common rooftop deck, secure parking, on a safe neighborhood and street.
Priced at a great price of $375,000. If you like to see or get more information on this unit please call us at (312)-755-9999.