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Single Story For Sale in Lincoln Park

• 3 bath, 3 bdrm single story - MLS® $875,000

 -  CHARMING & PERFECTLY MAINTAINED HOME IN THE HEART OF LINCOLN PARK'S DEPAUL NEIGHBORHOOD. WONDERFUL VINTAGE DETAILS REMAIN INTACT, BUT WITH MODERN CONVENIENCES. GRACIOUS ROOM SIZES, LIMITED HALLWAYS, ONE ROOM LEADS TO THE NEXT. HARDWOOD FLOORS THROUGHOUT. 3 BEDROOMS ALL ABOVE GRADE AND 3 FULL BATHS. WONDERFULLY SUNNY EAT-IN SPACIOUS KITCHEN. FORMAL DINING ROOM. PERFECTLY MANICURED OUTDOOR AREAS. NEW 2 CAR GARAGE.

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Price Reduced on 919 W Montana St in Lincoln Park

Lincoln Park, Chicago  -  Announcing a price reduction on 919 W Montana St, a 3 bath, 3 bdrm single story. Now MLS® $875,000 - .

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Price Reduced on 134-1000 W. Washington St. in West Chicago

West Chicago, Chicago  -  Announcing a price reduction on 134-1000 W. Washington St., a 2,500 sq. ft., 3 bath, 3 bdrm 3 story. Now MLS® $625,000 - wow- HUGE place.

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Buying a home won't get much cheaper.... read this article

Buying a home won't get much cheaper

 @CNNMoney May 3, 2012: 5:25 AM ET

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NEW YORK (CNNMoney) -- Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.

 

With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable -- but it won't stay this way for much longer.

Stuart Hoffman, chief economist for PNC Financial Services (PNC,Fortune 500), said he expects home prices to flatten out by the third quarter and start climbing by next year.

A number of factors will help bolster the housing market, he said, including a decline in the number of foreclosures and continued job growth. In addition, homebuyers will have better access to mortgages as they get their finances in order and improve their credit scores.

 

Some economists, like Trulia's Jed Kolko, expect home prices to pick up even more quickly. Trulia's data shows that the national average for asking prices already increased 1.4% in the first quarter of 2012, compared with the last three months of 2011.

 

"This is a strong indicator that we will start seeing home price indexes, like the S&P/Case-Shiller, start to report home price increases this summer," he said.

Prospective homebuyers who've been sitting on the fence shouldn't worry if they aren't quite ready to make the leap. Analysts are predicting that the initial price gains will be modest, at least, in most markets.

 

Hoffman, for example, is forecasting a 2% increase in 2013 compared with 2012. Meanwhile David Stiff, chief economist for Fiserv, predicts that prices will turn in the last quarter of 2012 and will rise 4.2% for the 12 months through September 2013.

 

Foreclosures start to fade. One major factor that will drive the trend is the cooling of the foreclosure crisis. Stan Humphries, chief economist for Zillow, said that the percentage of mortgage loans 90 days or more late, a good predictor of future foreclosures, is "falling fast."

 

That percentage dropped 15% year-over-year to 3.1% through the end of 2011, according to the Mortgage Bankers Association. And the decline is accelerating: More than 70% of the decline came in the last three months of the year.

 

Before things slow down, however, buyers should brace themselves for a temporary spike in the number of foreclosures as banks start expediting the processing of hundreds of thousands foreclosures that were stuck in the system following the robo-signing scandal. That backlog should move more quickly now that new guidelines for processing foreclosures have been outlined in the $26 billion foreclosure settlement.

 

Many of the bank-owned properties currently coming out of the foreclosure pipeline are being snapped up by investors who are fixing them up and renting them out -- often to those who were displaced by the foreclosure of their own home. That has helped to lift prices on foreclosed properties, according to Alex Villacorte, the director of analytics for Clear Capital, which specializes in housing market valuations.

 

"That could have a significant impact on the market overall in terms of providing a rising floor to home values," he said.

In some markets hit hard by foreclosures, the turnaround in prices is already underway. Phoenix recorded an 8.4% jump in home prices during the three months ended April 30, compared with the three months ended January 31, according to Clear Capital.

 

"It's crazy," said Tanya Marchiol, founder of Team Investments, a Phoenix real estate investing firm. "Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000."

 

Miami saw a 4.6% increase quarter-over-quarter through April, andTampa, Fla., was up 4.4%, according to Clear Capital.

Goodbye 3.9% mortgage. In addition to home prices, mortgages could also move higher.

 

Mortgage rates have been at or near historic lows for much of the past six months. The average interest rate for a 30-year, fixed-rate mortgage has not topped 4.5% since July 2011. And recently, it has been at 3.88% just a tick above the record low of 3.88% set in February.

 

But rates aren't expected to remain at these record-low levels much longer. As the economy continues to recover, rates will move higher, said Doug Lebda, CEO of LendingTree, the online lending site. Although, he said, they will "stay very reasonable."

 

The Mortgage Bankers Association is forecasting that the 30-year fixed will hit 4.5% by the end of the year.

Greater demand for loans will help fuel the increase, according to Lebda.

 

Even though mortgage rates have been cheap, borrowing for home purchases has been sluggish. The Mortgage Bankers Association estimates that homebuyers will take out mortgage loans totaling about $415 billion this year, an increase of less than 3% compared with 2011. Next year, however, it forecasts that amount will almost double to $706 billion.

As housing markets stabilize and prices stop falling, homebuyers will be even more confident about buying, said Humphries.

"People can now see the light at the end of the tunnel," he said. "And that can be enough to get them off the fence." 

Open House in North Center on Sunday

May 2012
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North Center, Chicago  -  We invite everyone to visit our open house at 1-2938 N. Damen Ave. on May 6 from 11:00 AM to 1:00 PM.

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Rent/Lease Reduced on 710-910 W Huron in River West

River West, Chicago  -  Announcing a rent/lease reduction on 710-910 W Huron, a 3,500 sq. ft., 3 bath, 4 bdrm single story. Now MLS® $7,050.00 USD Monthly - Huge 4 bed, plus terrace+.

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Single Story For Sale in North Center

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• 2,400 sq. ft., 3 bath, 4 bdrm single story - MLS® $459,900

 -  STEPS FROM HAMLIN PARK, INCRDBLE 2 LEVEL 2400 SQFT HOME IN ROSCOE VILLAGE AREA W/ 4 BEDS/3 FULL BATHS. HIGH CEILINGS, HARDWOOD FLRS, CHEF KTCHN W. 42INCH CUSTM CABS & 1.25 GRNT. PLENTY OF SPACE FOR DINING LRG TABLE OFF KCTHN AND TOP FLOOR TV RM W/ FIREPLCE. LARGE EAST FACING PICTURE WINDOWS THRU OUT HOME. OVRSIZD HOME W/ 4 FULL BEDRMS - 2 UP & 2 DWN. GREAT SIZED LL FAMILY RM W. WALK OUT DECK. GARAGE PRK INCL

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Single Story For Rent/Lease in Avondale

Front_View
CITY VIEWS!!

• 2,000 sq. ft., 2 bath, 3 bdrm single story - MLS® $2,400.00 Monthly - NEW CONSTRUCTION!

 -  3 Bedroom, 2 Bathroom.
Elevator building, top floor unit with city views.
Master Suite with seperate shower & whirlpool.
Balcony off Master Bedroom.
Two Hall Closets
Stainless Steel Viking Appliances & thick Granite countertops.
Walnut Floors throughout
HUGE big bedrooms and GREAT closet space
In Unit Washer/Dryer.
Networking System for Cable, CAT5
1 Attached Garage space included in rent, additional +200
Hop right on 90/94. So close to heart of Logan Square
Move-in April 15th. No application or move-in fees.

*** Listing agent owns the property ***

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Single Story For Sale in North Chicago

walk_image001_2839palmer2-3
VINTAGE LOVERS DREAM

• 1,150 sq. ft., 1 bath, 3 bdrm single story "EAST CORNER PENTHOUSE" - MLS® $250,000 - EAST CORNER PENTHOUSE

 -  2839 PALMER 3
INCREDIBLY SUNNY EAST CORNER UNIT IN RECENT GUT-REHAB
ONE BLOCK OFF PALMER SQ.
INVITING PENTHOUSE VINTAGE CHARM W/ 3BED/1BTH.
OPEN KITCHEN W/ 1.25" GRANITE, 42 INCH MAPLE CABS.
UPGRADED BATH W/DOUBLE BOWL & TUB.
HARDWOOD FLOORS THROUGHOUT, LARGE LIVING ROOM W. WINDOWS EVERYWHERE. SKYLINE CITY VIEWS FROM ALL 3 BEDROOMS.
LARGE BACK DECK OFF THE KITCHEN, IN-UNIT W/D. STORAGE & BIKE ROOM IN BASEMENT GARAGE PKG. 1.5 BLOCKS TO BLUE LINE

CHECK OUT FULL FLOOR PLANS AND PICS ON TOP LEFT CORNER OF THE HOME PAGE

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Apartment For Sale in North Chicago

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• 600 sq. ft., 1 bath apartment - MLS® $125,000

 -  RECENTLY UPDATED STUDIO WITH UNBLOCKED SOUTHERN EXPOSURE FROM THE GRACIOUSLY SIZED BALCONY. KITCHEN AND BATH HAVE BEEN UPDATED WITH GRANITE AND STONES. VERY BRIGHT CHERRY UNIT WITH NEUTRAL DECOR. GOOD CLOSET SPACE. UNIT IS VACANT AND READY TO GO.

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Single Story For Sale in Lincoln Square

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• 1,300 sq. ft., 2 bath, 2 bdrm single story - $309,999

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Apartment For Sale in Bucktown

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OVER SIZED 2 BEDROOM - 2BTH - GARAGE

• 1,450 sq. ft., 2 bath, 2 bdrm apartment "OVER 1450 SQFT" - MLS® $400,000 - HEART OF BUCKTOWN

 -  1661 BELL UNIT 3
HEART OF BUCKTOWN ON A QUIET DEAD END STREET
1450 + SQ. FT. CONDO W/GARAGE PARKING ON QUIET STREET.
UNIQUE WIDE INTERIOR ALLOWS FOR BRIGHT, OPEN & WELL PROPORTIONED LIVING SPACE.
BIG KITCHEN WITH STAINLESS STEEL APPLIANCES, X-LARGE ISLAND
ROOM FOR A LARGE DINING TABLE,
BRAND NEW WOOD BURNING FIREPLACE & PRETTY BAY WINDOW IN LIVING ROOM SPACIOUS MASTER BATH WITH SEP SHOWER & SOAKING TUB
LARGE SECOND BEDROOM
SIDE BY SIDE W/D,
TONS OF IN UNIT STORAGE,
LARGE PRIVATE DECK
FENCED YARD, & LOW ASSESSMENTS
WALK TO EL, GREAT RESTAURANTS & SHOPPING!

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Warren Buffet, Greatest Investor in our Lifetime, says "It's time to buy, BUY NOW"

The KCM Blog - Warren Buffett: It’s Time to Buy Real Estate


Warren Buffett: It’s Time to Buy Real Estate

Posted: 29 Feb 2012 04:00 AM PST




Warren Buffett appeared live on CNBC’s Squawk Box this week. During the interview, he was asked about the current real estate market and whether he felt now was the time to buy. His response was rather emphatic and has been used as a headline in hundreds of articles since the interview:

“If I had a way of buying a couple hundred thousand single-family homes I would load up on them.”

However, throughout the interview, he addressed the market from a few angles. Here is what he said:

Why invest in real estate now? 

“It’s a way, in effect, to short the dollar because you can take a 30-year mortgage and if it turns out your interest rate’s too high, next week you refinance lower. And if it turns out it’s too low, the other guy’s stuck with it for 30 years. So it’s a very attractive asset class now.” 

Is buying your own home better than investing in stocks right now?

“If I knew where I was going to want to live the next five or 10 years I would buy a home and I’d finance it with a 30-year mortgage… It’s a terrific deal.”

 Should we buy multiple houses?

“If I was an investor that was a handy type and I could buy a couple of them at distressed prices and find renters, I think it’s a leveraged way of owning a very cheap asset now and I think that’s probably as an attractive an investment as you can make now.”

Over the last couple of months, there have been more and more financial analysts coming to the same conclusion: It’s time to buy real estate.

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Price Reduced on 322-1735 North Paulina Street in Bucktown

Bucktown, Chicago  -  Announcing a price reduction on 322-1735 North Paulina Street, a 1,000 sq. ft., 2 bath, 2 bdrm single story. Now MLS® $275,000 - Amazing 2 bed price.

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Single Story For Sale in River North

EXTERIOR
BEAUTIFUL 2 BED PLUS DEN

• 1,164 sq. ft., 2 bath, 2 bdrm single story - MLS® $400,000 - SHORT SALE, DEAL!!!

 -  ***SHORT SALE, INCLUDES PARKING, WILL FLY OFF THE SHELF***
SOUTH FACING 2 BEDROOM 2 BATHROOM PLUS DEN AT THE HIGHLY COVETED MONTGOMERY.
GRANITE KITCHEN, NATURAL WENGE CABINETS IN KITCHEN & BATHS, STAINLESS STEEL APPLIANCES, GLASS FRONT CABINETS, NEUTRAL MARBLE MASTER BATH, HARDWOOD FLOORS IN COMMON AREAS,CARPETING IN BEDS, ENORMOUS WALK-IN MASTER CLOSET, AMPLE STORAGE, IN UNIT LAUNDRY
BUILDING FEATURES GYM, ROOFDECK, DOG WALK AREA, CONCIERGE, 24 HOUR DOORMAN
ASSESSMENTS COVER EVERYTHING, INTERNET SATELLITE TV ETC- ONLY PAY ELECTRIC!

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