The Windy City Club will be hosting a first time home buyers/sellers seminar at the library in downtown Chicago this evening. For anyone looking to learn more about the current state of the local real estate market in Chicago this is a great opportunity to join a small group of young professionals as Phyllis Stellato from @properties will walk us through everything you need to know as a first time home buyer or seller in Chicago.
The event is open to anyone…
[Read More...]The substantial drop in home prices over the last few years has caused some young professionals to begin exploring the real estate market, looking for a once in a lifetime opportunity to buy their first home. With prices falling over 20% in numerous cities across the country, it is not out of the ordinary to find homes listed for over $100,000 less than their peak price. On the surface these houses can seem downright cheap, but we must remember that…
[Read More...]Tom is a good friend of Brad’s who I had the opportunity to meet a few years back while camping in the middle of Indiana for some quality Dave Matthews shows. He grew up in Cincinnati, OH and graduated from The Ohio State University with a degree in Finance. After college Tom moved back to Cincinnati and has been a commercial real-estate broker and appraiser there for several years. With all of the turmoil I read about daily in the residential…
[Read More...]Yesterday we had a good discussion in the comments of a post on the old buy vs rent debate. Here is my quick analysis of it:
Buy
+Mortgage
+Mortgage Insurance
+Taxes
+Home Insurance (Houses Only)
+Association Dues (-utility benefits)
+Buy/Sell Costs (Agent + Mort Fees)
+Maintenance/Repairs
-Tax Deductions
—————-
=Cost of Home Ownership
For the “Cost of Home Ownership” defined above you get in return equity (from principal payments), all profits/losses on the value of the home (over the long-term real estate values increase at a rate equal to wage increases - which…
[Read More...]The WSJ reported this week that rents are falling nationwide:
In Manhattan, rents fell on almost all kinds of apartments in 2008. Rents of studio apartments fell 7.4%, and rents of one-bedrooms and two-bedrooms in buildings without a doorman fell 5.5% and 5.6%, respectively, according to a report released Tuesday by the Real Estate Group of New York, a Manhattan-based brokerage firm. In Miami, 60% of rents decreased in the fourth quarter, and 45% of rents in Los Angeles declined.
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[Read More...]| Need to remove google ads and add stuff |
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