Live with the tattooed lady in Humbodlt Park

Hipsters unite at California and Chicago Avenues. These screens advertise modern condos above on the east border of Humboldt Park.
Three bedrooms, two baths and parking for around the $360s give or take. The 800 block of North California has several new construction buildings. Most have delivered their units over the past few years... but there is still developments moving ahead.

A view of the 800 block of North California:

Are over the top finishes enough to trump location?

Ukrainian Village Views

Rooftop views from West Chicago Avenue in Ukranian Village.
Newer contruction close to downtown for less? UK Village. Downtown looks closer and much more stunning than this when on th actual roof top deck.

Lincoln Square condo unit sales down 19%, median price down 13% in third quarter

Condo unit sales in Lincoln Square area were down 19 percent in third quarter 2009 from the 2008 numbers. We saw 91 units sold. Median price of $269,900 was down 13 percent from third quarter 2008.

As predicted on these pages, sale activity was up from the second quarter of 2009. 83 units were sold in second quarter 2009 and 91 units sold in third quarter 2009. Much of this due to stabilizing employment situations, low mortgage interest rates and the looming deadline for the first $8,000 first time buyer's credit.

Units sales prices lagged again year to year in Lincoln Square. The area covers condos in much of the Ravenswood and Bowmanville neighborhoods that have seen pretty stable pricing. However, locations in Lincoln Square heading northwest along Lincoln Avenue have suffered higher decreases in sales price due to under preforming newer construction re-sales and short sales.

Tribune: Mortgage rates decline

This drives me nuts... I should have just went ahead and offered on a house in Wilmette we looked at two weeks ago (pictured here). Mint condition, a huge master suite addition and a terrific yard. Turns out we are not "ready" for that just yet. And trying to sell our place with the kids right now is more than we can take!

The rates and lower home prices in good locations are making it hard for me to just settle down in my current home. I can't help myself.

From the Chicago Tribune:

Average rates for 30-year home loans stayed below 5 percent for the second consecutive week, kick-starting refinancing activity, Freddie Mac said.

The average rate on a 30-year fixed mortgage was 4.87 percent, down from 4.94 percent last week, the mortgage financing giant said. The last time rates for 30-year home loans were lower was the week ending May 21, when they averaged 4.82 percent.

This week's average rate remained slightly above the lowest level on record, 4.78 percent established in the spring. Last year at this time, the 30-year fixed-rate mortgage averaged 5.94 percent.

Meanwhile, refinance applications climbed 18 percent from last week, the Mortgage Bankers Association said.

Death is not an option: vintage conversion condo or new construction condo in Lakeview?

All things being equal.. number of beds, baths, parking etc... What do prefer in general?

A vintage conversion condo?

Or a new construction condo?

Letters from the field: Good Realtors are busy now

"We're so busy", one exhausted Ravenswood broker said , "It's like the good ol' days".

It's been almost impossible to blog these days...and it's a shame as the market is very dynamic at the moment and the stories very interesting. Local Chicago Realtors are bumping into each other while running non-stop to satisfy the federal first time buyer tax credit demand. Next week is about the latest you want to write an offer to get in under the November 30th closing deadline. That's the story I'm hearing from many colleagues, and that's the case with yours truly. I've literally been out with clients everyday looking at properties for almost a two week solid run.

Smart sellers with the ability to lower prices just enough under the competition are greeted with multiple purchase offers more than I can remember. The simple rules for selling in this market are to your home for success and price in the bottom 30 percent or so. It will fly off the shelf in most markets, but especially for first time buyers.

The challenge has been getting first time buyers fully prepared to jump in time on a great lowered price. Who can blame them with the dismal statistics over the past several years?

Even with the increased demand, some sellers seem reluctant to at least paint their home a fresh neutral color... the best bang for the buck. Or, at least their Realtor did not club them over the head with blunt advice (and not take "no" for an answer). I don't really use a club, but it may seem like it.

Factors in Chicago home sales volume, median prices inching up

One of my go to mortgage bankers, Brian Cumpton of Wells Fargo RWF Mortgage , sent me this easy to understand graph (which is lucky for me). The graph from City-Data.com shows Chicago median price for homes sales and unit sales volume turning up in the first half of 2009.

I just checked last night for our Chicago Association of Realtors statistics for the third quarter sales in my key neighborhoods of Ravenswood, Lincoln Square, Lincoln Park and Lakeview but they are not posted yet. However, from an anecdotal perspective of hitting the pavement everyday, unit sales volume should be up.

The main influences in the uptick have been from my view:

1. Buyers' jobs have stabilized from the chaos of the banking crisis
2. Better, lower listing prices from the beginning
3. Low mortgage interest rates
4. The Federal Government first time buyers' $8000.00 tax credit

One Street in East Lakeview: West Oakdale 60657

A look at the 500 block of West Oakdale in East Lakeview is a bit of a transformation. Touched by some ugly 1960s and 1970s apartment buildings and dotted by a few new construction three to six unit condo buildings, the block is mostly influenced by turn of the century architecture.

The classic red door is a nice touch on this ancient row house.

This poor girl has remained gutted and vacant (over two years I believe) near the corner of West Oakdale and North Broadway. This is a vibrant location and shameful it's sat unfinished and empty.

The street.

Does Lake Point Tower still got "it"?

I think so. With the 40th anniversary event coming up for this Chicago icon, it made it only more exciting to work with clients looking into Lake Point Tower for a purchase.

I mean, look at it!

I found a fun blog about its 40th Anniversary and the building in general HERE

Recently, several one bedroom units with about 1100 square feet and killer views have come on well under $400,000. When looking at recent one bedroom sales in full amenity, luxury buildings nearby, it's hard to compete with a home at this address from $350,000-$450,000. Why not go all the way to the point? I love the floor-plans of the one bedrooms and the building amenities such as the fitness club have been updated. All amenities, pool, fitness club, private park... are included in the assessments.

The building is vibrant with older and newer "who's who" residents creating an atmosphere that exudes fully the city life. Average Joes like me and you are welcome too.

Lakeview Open House Sunday 10/4/09 12P to 3P: Blaine school district duplex

Open House Sunday at 3616 N Janssen #1N from 12 Noon to 3PM.

Asking $589,900
This is a three to four bedroom, three full bathroom home in Blaine school district. Enjoy a terrific central Southport Corridor address. You can't beat it. I mean it... try and you will lose!

I have new photos coming soon. We've just repainted the whole place and it looks brand new. Shows great and seriously feels like you can move into a new home.

Other features include:

-Fireplace
-Garage Parking
-Fenced Yard
-Storage Room
-Front Walk-Out Terrace
-Back Deck
-Double Bowl Vanity (Master Bath)
-20ft Living Room Ceilings
-Several Built-in/ Wired Speakers
-Great Closet Space
-Side by Side Washer and Dryer

-Stainless Steel Appliances

-Permit Street Parking after 6PM

Call/email me for a floor-plan or please visit on Sunday.