clear.gif

 

Chicago Real Estate Blog - Real Estate Rocks

 

June 18, 2007

Housing blues dip to 16 year-low

Associated Press
Published June 18, 2007, 1:31 PM CDT


A measurement of industry sentiment about the housing market fell in June for the fourth straight month to the lowest point in more than 16 years.

Housing developers are being squeezed by tighter lending standards for borrowers trying to get mortgage loans. In response to weak demand, developers are cutting prices and offering buyer incentives to cope with a mounting supply of unsold homes, the National Association of Home Builders said Monday.

The trade group's housing market index, which tracks builders' perceptions of current market conditions and expectations for home sales over the next six months, fell to 28, the lowest reading since February 1991, the NAHB said.

Wall Street had expected a reading of 30, according to the consensus forecast of Wall Street economists surveyed by Thomson/IFR. Ratings higher than 50 indicate positive sentiment about the market. The seasonally adjusted index has been below 50 since May 2006.

The continuing slump is bad news for housing developers like Lennar Corp., D.R. Horton Inc., Pulte Homes Inc., Centex Corp. and Toll Brothers Inc., the largest U.S. homebuilders by market value.

The index has been sliding since March as demand for new housing slumped amid a rise in defaults for borrowers with weak, or subprime, credit.

"It's clear that the crisis in the subprime sector has prompted tighter lending standards in much of the mortgage market," David Seiders, the group's chief economist, said in a statement, adding that rising interest rates have also eroded demand.

Home sales will continue to decline in the months ahead, he said, and housing starts are not expected to improve until next year, he said.

Sales of new homes, which represent about 15 percent of all home sales, surged in April, but median prices fell 11 percent from the previous month as builders slashed prices.

Mortgage giant Freddie Mac reported last Thursday that 30-year, fixed-rate mortgages averaged 6.74 percent,the highest level in 11 months.

Meanwhile, the troubled market for homebuyers with weak, or subprime, credit has hampered investors in mortgage securities who bought loans backed by subprime mortgages. Moody's Investors Service said Friday it downgraded 131 mortgage investments tied to subprime loans.

Moody's said the downgrades were a result of a higher-than-expected default rate among second mortgages issued to subprime borrowers last year and stemmed from "an environment of aggressive underwriting."

The Mortgage Bankers Association reported last week that the percentage of payments that were 30 or more days past due for subprime adjustable-rate mortgages jumped to nearly 16 percent in the first quarter, the highest number on record. Foreclosure filings, meanwhile, were up 90 percent in May compared with last year, according to industry data firm RealtyTrac Inc.

Copyright © 2007, Chicago Tribune

March 09, 2007

Chicago Lofts

www.greatchicagorealestate.com/map.php




We can update you on new loft listings that hit the market. Just let us know:

*Beds/Baths
*Specific Areas
*Price Range
*Time-frame
*Features Needed
*Parking Needs
*Pet Needs
*Are You Currently Working With An Agent
*Phone Number That I Can Contact You At




Please don't hesitate to call or email if you should have any questions.




Ron Knoll @ 773 330-2353 cell
ron@saffronrealtygroup.com

March 07, 2007

You have to see to believe!

Ron Knoll | Saffron Realty Group | 773-330-2353 Cell
1912 W. Touhy 1E., Chicago, IL
Feels like a single-family!
4 Bdrm Condo offered at $449,000
Year Built 2004
Sq Footage 2,800
Bedrooms 4
Bathrooms 3 full, 0 partial
Floors 2
Parking 1 Car garage
Lot Size Unspecified
HOA/Maint $195 per month

DESCRIPTION
WAY, WAY BEYOND... SPECTACULAR, ALMOST NEW(2004) 2800+ SQUARE FOOT DUPLEX DOWN IN EAST RIDGE. GRANITE, STAINLESS STEEL & MAPLE KITCHEN. TWO GORGEOUS FIREPLACES. MARBLE BATHS BEAUTIFUL CROWN MOLDINGS. SIDE BY SIDE IN-UNIT LAUNDRY. HARDWOOD FLOORS. NICE BALCONY FOR THE GRILL. AMAZING CEILING HEIGHT ON THE LOWER LEVEL. HUGE ROOM SIZES...LIVES LIKE A SINGLE-FAMILY! GARAGE PARKING SPACE INCLUDED. A MUST SEE ...

Photo 1
PROPERTY FEATURES

Central A/C Central heat Fireplace
Hardwood floor Family room Living room
Dishwasher Refrigerator Stove/Oven
Microwave Granite countertop Stainless steel appliances
Washer Dryer Balcony, Deck, or Patio

ADDITIONAL LINKS

Map of property
Virtual Tour
Website
Mortgage calculator
Seller contact info:
Ron Knoll
Saffron Realty Group
773-330-2353 Cell
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 15, 2007, 7:33pm PST

Avondale Beauty Under 300K...

Ron Knoll | Saffron Realty Group | 773-330-2353 Cell
2924 N. Talman #2, Chicago, IL
Amazing space for under 300k...
2 Bdrm Condo offered at $299,000
Year Built Unspecified
Sq Footage Unspecified
Bedrooms 2
Bathrooms 2 full, 0 partial
Floors 1
Parking 2 Uncovered spaces
Lot Size Unspecified
HOA/Maint $157 per month

DESCRIPTION
GORGEOUS INTERIOR WITH ALL THE THINGS THAT TODAY'S BUYERS WANT! 2BR/2BTH WITH 2 PARK SPOTS INCL! BRIGHT, SUNNY OPEN SPACE STEPS TO ROSCOE VLG, LAKEVIEW,EXPWAY & SHOP. H/W FLOORS, DEN, 9'+ FT CEILINGS, EXP BRICK, GRANITE, 42'MAPLE CABS, HUGE EAT IN KITCHEN. IN UNIT W/D, MARBLE/MOSAIC BATHS CUST SHELVING, LOTS OF STORAGE. A SMART BUY IN THE CITY!

Photo 1
PROPERTY FEATURES

Central A/C Central heat Hardwood floor
Living room Office/Den Breakfast nook
Dishwasher Refrigerator Stove/Oven
Microwave Granite countertop Washer
Dryer Balcony, Deck, or Patio

COMMUNITY FEATURES

Storage space(s) Gated property


ADDITIONAL LINKS

Map of property
Virtual Tour
Website
Mortgage calculator
Seller contact info:
Ron Knoll
Saffron Realty Group
773-330-2353 Cell
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Mar 1, 2007, 7:18pm PST

University of Chicago Students and Staff!

Ron Knoll | Saffron Realty Group | 773-330-2353 Cell
6200 S. Ingleside #13A, Chicago, IL
Gorgeous Townhome Near The University!
3 Bdrm Condo offered at $359,000
Year Built 2002
Sq Footage Unspecified
Bedrooms 3
Bathrooms 3 full, 0 partial
Floors 3
Parking 2 Car garage
Lot Size Unspecified
HOA/Maint $45 per month

DESCRIPTION
WAY, WAY BEYOND...




INGLESIDE COURT, BEAUTIFUL TOWNHOME! FIRST RE-SALE FOR THIS GORGEOUS UNIT W/ ALL THE BELLS & WHISTLES. FULL MASONRY CONSTRUCTION, LOADED W/ ALL THE THINGS THAT TODAY'S BUYERS WANT... END UNIT W/ 2 CAR GARAGE! TONS OF LIGHT & SPACE. MARBLE-CLAD MASTER BATH, JACUZZI TUB, SLATE FIREPLACE, BREAKFAST BAR, BLACK APPLIANCES, CATHEDRAL CEILING & MUCH MORE!




A MUST SEE ON YOUR TOUR, THANKS FOR SHOWING!

Photo 1
PROPERTY FEATURES

Central A/C Central heat Fireplace
High/Vaulted ceiling Hardwood floor Living room
Dining room Dishwasher Refrigerator
Stove/Oven Microwave Washer
Dryer Balcony, Deck, or Patio

ADDITIONAL LINKS

Map of property
Website
Mortgage calculator
Seller contact info:
Ron Knoll
Saffron Realty Group
773-330-2353 Cell
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 26, 2007, 10:21pm PST

February 26, 2007

My new listing...

Ron Knoll | Saffron Realty Group | 773-330-2353 Cell
6200 S. Ingleside #13A, Chicago, IL
Gorgeous Townhome Near The University!
3 Bdrm Condo offered at $359,000
Year Built 2002
Sq Footage Unspecified
Bedrooms 3
Bathrooms 3 full, 0 partial
Floors 3
Parking 2 Car garage
Lot Size Unspecified
HOA/Maint $45 per month

DESCRIPTION
WAY, WAY BEYOND...




INGLESIDE COURT, BEAUTIFUL TOWNHOME! FIRST RE-SALE FOR THIS GORGEOUS UNIT W/ ALL THE BELLS & WHISTLES. FULL MASONRY CONSTRUCTION, LOADED W/ ALL THE THINGS THAT TODAY'S BUYERS WANT... END UNIT W/ 2 CAR GARAGE! TONS OF LIGHT & SPACE. MARBLE-CLAD MASTER BATH, JACUZZI TUB, SLATE FIREPLACE, BREAKFAST BAR, BLACK APPLIANCES, CATHEDRAL CEILING & MUCH MORE!




A MUST SEE ON YOUR TOUR, THANKS FOR SHOWING!

Photo 1
PROPERTY FEATURES

Central A/C Central heat Fireplace
High/Vaulted ceiling Hardwood floor Living room
Dining room Dishwasher Refrigerator
Stove/Oven Microwave Washer
Dryer Balcony, Deck, or Patio

ADDITIONAL LINKS

Map of property
Website
Mortgage calculator
Seller contact info:
Ron Knoll
Saffron Realty Group
773-330-2353 Cell
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Feb 26, 2007, 10:21pm PST

February 16, 2007

Chicago Realtors, Join Our Team!

Aggressive marketing tools:

*Top ranking web placement
*http://www.GreatChicagoRealEstate.com
*http://www.SaffronRealty.com
*Custom marketing with a sense of humor
*Saffron direct e-mail database of over 50,000

State of the art technology:

*Dynamic CRM interface
*Remote server access
*IP phones
*Electronic flyers Saffron snapshot- monthly newsletters

Great place to work:

*Health care options
*Boutique style office
*Long lasting client relationships
*Work from our beautiful office or your home
*Licensed assistant available on site
*Flexible administrative support to meet your
individual needs
*Internal newsletters with important agency
and industry news
*Easily accessible managing broker

Please contact Justin at 773.496.4111

February 12, 2007

chicago commercial real estate...

Are you looking for 5+ apartment rental buildings, mixed use buildings, warehouse buildings, or commercial listings? If so, please let me know your requirements and I will email you a list of properties.

Please include purchase price, area, type of building, timeframe, pre-approved, and whether or not you're working with an agent.

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group
Owner/Realtor

www.greatchicagorealestate.com/chicago_investment_properties.htm

Open Houses in Chicago

Let me know where your looking, your price range, number of bed/bath and I'll email you a list of open houses.

If your curently working with a 'buyers agent' please let me know.

happy house hunting...

Ron Knoll @ 773 330-2353 cell
Buyers Agent
Saffron Realty Group

Selling in Bucktown/Wicker Park?

Selling your home/condo in Bucktown?

Call me for a free market analysis, and find out what your Bucktown property would sell for in today's active market. With my proven marketing plan, numerous sales awards, and thorough knowledge of Bucktown, I can sell your home for top dollar!

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group
Founder/Realtor

Ron@SaffronRealtyGroup.com

Relocating to Chicago?

If you're looking for a great condo in Chicago and want to be close to theater, restaurants, Lake Michigan, or Michigan Ave. shops, then just shoot me a email with your needs. Please include:

*Beds
*Baths
*Areas (Please be specific!)
*Price
*Parking
*Pets
*Timeframe
*Please indicate if you're currently working with an agent

Ron Knoll @ 773 330-2353 cell
Founder/Realtor
Saffron Realty Group

Ron@SaffronRealtyGroup.com

January 17, 2007

January 15, 2007

Ukrainian Viilage Condos, Ukrainian Village Real Estate!

Ukrainian Village...

"The Ukrainian Village District contains an excellent cross-section of residential building types that provides a visual history of immigration settlement on Chicago's Near West Side. Together, they form an important residential streetscape, one that tells the story of German, Polish, and, ultimately, Ukrainian immigrants who settled in the area throughout the late 1800s and early 1900s. An extremely well-preserved collection of workers cottages, two- and three-flats, single family residences, and large apartment buildings, nearly one out of every three of the buildings in the district was developed by the early influential Chicago real estate developer William D. Kerfoot. The first real estate developer to reestablish his business after the Great Fire in 1871, Kerfoot became the embodiment of the "I Will" spirit of Chicago. He reopened his office the day after the fire ended with a sign on his door reading: "W.D. Kerfoot. All gone but , wife, children and energy." These unpretentious residences feature distinguished workmanship and finely crafted details."

From Wikipedia

www.GreatChicagoRealEstate.com