Chicago Relocation
 

Fall 2015 Chicagoland Market Update

September 17, 2015

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John D’Ambrogio

How did summer 2015 stack up?   What’s ahead for the Chicagoland real estate market for the balance of 2015?  Check out the stats, the insight, and the predictions….

 

Check it out!

 

 

 
 
 

2015 Real Estate Outlook for Chicagoland, 2014 Review

February 4, 2015

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John D’Ambrogio

Hello friends – Here’s a quick overview of what happened in ’14 and what we think WILL happen in ’15.  I am fortunate to have featured speaker Pam O’Connor, CEO of Leading Real Estate Companies of the World share her views as well.

Enjoy

 

 

 
 
 

Q2 2014 Chicago Real Estate Market Update

August 4, 2014

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John D’Ambrogio

The second quarter of 2014 held consistent – a great sign for the Chicago market. John D’Ambrogio breaks down the Chicagoland Real Estate Market.

 
 
 

July 2014 Chicago Real Estate Market Update

July 30, 2014

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John D’Ambrogio

Home sales are up, average sales price is up, see what else is happening in the Chicago Real Estate Market. John D’Ambrogio shares Chicago’s state of the market for July 2014.

 

 
 
 

June 2014 Chicago Real Estate Market Update

June 27, 2014

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John D’Ambrogio

John D’Ambrogio shares this month’s update of the Chicagoland relocation market.

 

 
 
 

May 2014 State of Market

May 30, 2014

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John D’Ambrogio

Spring’s low inventory has created a summer market with remarkably quick home sales and higher average sales prices.  Here’s your May’s market minute.

 
 
 

The 2014 Investment Crystal Ball….

May 12, 2014

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John D’Ambrogio

What is on the horizon for investors?

As an investor in Chicago real estate – single family homes, multi unit, and condos – it has been a great run for investors. Rents outpaced mortgage payments, those paying cash saw double digit cash on cash returns, and things were pretty great (assuming you could get a loan).  But how does the new normal effect that segment?

Well, interest rates, even for investors, are still at historic rates. We’re still at under 4% for the 15 years, and in the modest 4%s for a 30. Rates never really did rise as much as conservative economists had feared.  They thought the Fed cutting back on asset-purchase programs would have more of an effect than it did.

But what about pricing? We all know how the bubble caused unsustainable price increases across the board, and how loose lending gave us the push we needed to blow up the market. Specifically those for one and three year balloons did what balloons often do – pop. And with a mighty loud bang. Hey, if almost half of all subprime loans were auto-approved dirtying the height of the boom, what could we really expect?

Then came the 2012 mini bubble. Supply and demand finally evened out enough that the tables turned, and homes started to sell fast at a steep increase. 2013 saw an incredible amount of multiple offers and over-list price deals. Much to many investors chagrin. But it has evened out a bit since then.

Cash is still king. Many recent months have seen all-cash deals taking up over 40% of the market. While prices have gone up, cash deals still trump traditional mortgaged deals.

Personally I have not bought anything in a year (unless you count the under contract short sale that I have been working on for that entire amount of time). I do not see the returns in my price range. In addition, both Fannie and Freddie have been doing much more to their properties (first look opportunities for owner occupants and extensive repair work) that make the properties less appealing (profitable) to investors. And I hesitate to say most of the ‘good stuff’ has been taken, but returns are not what they were three years ago.

So keep investing if you have the funds and the patience. But the go-go days are over……if only for a while.

 

 
 
 

April 2014 State of the Market

April 30, 2014

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John D’Ambrogio

John D’Ambrogio breaks down the beginning of the spring market for your 2014 April Real Estate Market Update.

 

 
 
 

Q1 2014 Real Estate Market Update with Chip Wagner

April 28, 2014

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John D’Ambrogio

Sales volume and active listings have jumped back to 2007 levels causing average sales prices to rise.  John D’Ambrogio is joined by president and owner of A.L. Wagner, Chip Wagner, to discuss Q1 2014.

 

 
 
 

Chicago Northside Rents Rise

April 21, 2014

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John D’Ambrogio

As reported last week in Crain’s Chicago Business – the market recovery is creating some interesting market micro-situations. Despite both serving a similar upscale white collar clientele, a whopping 6,200 apartment units are slated to open up in downtown this year. Just ask me – As a South Loop resident I can see a good 400 of them from my balcony window. Not surprisingly, Crain’s reports that “the battle for tenants is just beginning.”

But it’s a different story a few miles north in the upscale Lincoln Park and Lakeview communities. Why is that? Frankly, much of the land is long spoken for up there. Not that things don’t open up or change over. Although when they do, you sometimes have half decade delivery dates – Think 2550 Lincoln Park on the site of the old Columbus hospital.

Plus, zoning for many of the parcels are low density by tradition and design. That is in contrast to the loop, where through the years you have seen high rise office buildings convert the entire space to condos.

Crain’s admits that finding reliable vacancy information outside the great loop is difficult (they cite a fragmented market, among other reason). They do feel, however, that the south side still lags behind either market.

So what does that mean for a transferee relocating to Chicago? As a renter – high rise living in the center of the city is going to be a relative bargain, while the charm of the city’s Northside may cost a bit more.

Read the entire article HERE.