Waukegan Grand Prix critic grinds gears with mayor

When word spread that the city is bidding to bring a motorsport race to the downtown area, Sheridan Road resident Jeff Rothbart wondered if the cart was being put before the horsepower.

Survey finds Realtors hopeful

About 46 percent of the nation's real estate agents think home prices will stay the same during the next six months, according to a report released Monday from California-based HomeGain.

Is Your Home WiFi Network Secured?

Do you have wireless internet access at home? Is your connection secure? Do you even know what that means? Check out the link below for a list of quick tips to make your home wi-fi secure. This information is courtesy of NAR’s Center for REALTOR Technology.

1948 Chicago the Beautiful

Golfer Greg Norman takes novel approach with sale price

As August dwindles away, I find my notebook filling up with sightings and skirmishes from the fringes of the real estate world:

When all else fails ...

Legendary golfer Greg Norman has been having trouble selling his luxurious home on Jupiter Island, Fla., an enclave of some of the most expensive manses in the country. It was first listed for $65 million in 2007. Norman waited a while and lowered the asking price to $47.5 million.

Still no action. What to do? Well, he apparently has decided to ignore the constant drumbeat of ever-lower prices. He has raised the price, this time to $60 million, which would get you nine bedrooms spread among six structures on the eight-acre estate, not to mention a wine cellar, 50-foot pool and 370 feet of waterfront.

The world economy has stopped shrinking. That’s the end of the good news

IT HAS been deep and nasty. But the worst global recession since the 1930s may be over. Led by China, Asia’s emerging economies have revived fastest, with several expanding at annualised rates of more than 10% in the second quarter. A few big rich economies also returned to growth, albeit far more modestly, between April and June. Japan’s output rose at an annualised pace of 3.7%, and both Germany and France notched up annualised growth rates of just over 1%. In America the housing market has shown signs of stabilising, the pace of job losses is slowing and the vast majority of forecasters expect output to expand between July and September. Most economies are still a lot smaller than they were a year ago. On a quarterly basis, though, they are turning the corner....BUT

Strong Gain in Existing-Home Sales Maintains Uptrend

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®.

August 21, 2009 - For the first time in five years, existing-home sales have increased for four months in a row, and the monthly increase is the largest in 23 years.

Lawrence Yun, NAR chief economist, said he is encouraged. “The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales,” he said.

Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago. The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.

New Study Shows More Walkable Homes Are Worth More

Though housing values are still slow to rebound from the collapse of the real estate market, a new analysis from CEOs for Cities reveals that homes in more walkable neighborhoods are worth more than similar homes in less-walkable neighborhoods, pointing to a bright spot in the residential real estate market.

The PGA TOUR® FedExCup® Trophy

The PGA TOUR® FedExCup® Trophy
Handcrafted by Tiffany & Co. silversmiths
in tribute to the game of golf

Sears posts surprise loss

Sears Holding Corp. reported a surprise quarterly loss that dimmed investors' hopes that Chairman Eddie Lampert could succeed in turning around the struggling retailer

Hawks star Kane indicted in NY cabbie attack

Patrick Kane was indicted Wednesday in Buffalo, N.Y., on misdemeanor assault and theft charges after he was accused of beating up a cab driver over a fare dispute.

Financial woes of major Irish developer could flood the market with cheap properties

The beleaguered Irish property market could be flooded with cheap apartments and half built office blocks after the country's Supreme Court ruled that companies belonging to Dublin's biggest real estate developer, Liam Carroll, should be placed in liquidation. Carroll is reputed to have built more apartments in Dublin than any other developer and is also a major investor in the Irish stock market. If his business goes under it would be one of the biggest corporate failures in Irish history.

House: Let foreclosed homeowners rent

When homeowners lose their houses to foreclosure, should they be able to stay in the property, leasing it back at fair market rent from the lender? Before leaving for their August break, Democrats and Republicans in the House took a rare, unanimous stand on both questions by passing the Neighborhood Preservation Act.

Illinois Incentives/Policies for Renewables, Efficiency, & Rebate Program

DSIRE is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency.

State Incentives Web Site for Renewables & Efficiency (DSIRE)

DSIRE is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995, DSIRE is an ongoing project of the NC Solar Center and the Interstate Renewable Energy Council funded by the U.S. Department of Energy.

How Foreclosure Affects Your Credit Score

How Foreclosure Affects Your Credit Score

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Beware of Foreclosure Rescue Scams - Help Is Free!

Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid common scams.

Assistance from a HUD-approved housing counselor is FREE.

Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.

Beware of people who pressure you to sign papers immediately, or who try to convince you that they can “save” your home if you sign or transfer over the deed to your house.

Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

Never make a mortgage payment to anyone other than your mortgage company without their approval.

Making Home Affordable Program

In support of the Federal Making Home Affordable Program, Freddie Mac and Fannie Mae will offer two initiatives that will help keep more families in their homes, stabilize communities and assist homebuyers during this difficult time. Under the plan, eligible homeowners can:

Refinance your mortgage to a new, potentially lower interest rate, with additional flexibility to assist many homeowners who have previously had difficulty refinancing due to declining property values. You'll need to be current on your mortgage payments to qualify for this refinance.

Obtain a modification on your mortgage that can potentially reduce your monthly payment, or offer other alternatives that can help you keep your home. This program is for homeowners who are delinquent in their mortgage payments, in the foreclosure process, or are current on their payments but have recently experienced significant hardship. Significant hardship includes circumstances that may make it difficult for you to pay your mortgage going forward.

Do You Recycle???

Appraisal Rules Challenge Real Estate Video

Real estate professionals are finding the new Home Valuation Code of Conduct a challenge as appraisal snags prevent transactions from closing. REALTOR® Magazine talks with NAR government Affairs about the issues.