It’s hard to be a glass-half-full person about real estate with five years of declines behind us and at least another year of bleakness in the forecasts. But the third-quarter data released by Zillow this week does show where the bright spots are on the Chicago-area map…
Readers ask questions, and our real estate expert answers. This week, in a follow-up question to last week’s, a reader named Barry asks if the deficiency in a short sale can be held against both parties on the title if one of them is bankrupt.
FINDING A NEW LEASE ON LIFE: Want to rent while enjoying the suburban life? What the market looks like in three Chicago suburbs.
Savings, gifts more frequently used as housing down payments as proceeds from prior home sales slide
AN UNEXPECTED LOSS: Holding onto their house for 12 years didn’t prevent a neurosurgeon from taking a near-half-million hit
List Price: $999,000
Sale Price: $1 million
The Property: The agent who sold this foreclosed 12-room house in a very desirable east neighborhood in Glenview thinks that the sale helped nudge the town’s real-estate market upward a smidge, rather than hurt nearby sellers, as many foreclosures have been shown to do…
List Price: $2.595 million
The Property: Designed by the architect Benjamin Marshall and completed in 1912, the brick and limestone confection that is 999 North Lake Shore Drive set the tone for what would become one of Chicago’s most elegant neighborhoods: East Lake Shore Drive…
List Price: $2.85 million
Sale Price: $2.55 million
The Property: Four 1980s townhouses in Lincoln Park have been sold to a developer that hopes to build a single megamansion on the site…
A STRANGE BREW: Suggested once as a residence for Chicago’s mayors, the home is on the market for $9.5 million
Readers ask questions, and our real estate expert answers. This week, a reader named Barry asks for advice on the potential liability to repay the difference between the short-sale proceeds and mortgage balance due.
