Articles filed under Residential Real Estate

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Late-payment rate on US mortgages hits 4-year low Feb 12, 2013 12:00 AM
Homeowners who took on mortgages well after the housing bubble burst are doing a better job keeping up with payments. Credit reporting agency TransUnion said Tuesday the trend is helping bring down the U.S. mortgage delinquency rate to the lowest level in four years. TransUnion says the percentage of mortgage holders at least two months behind on their payments fell to 5.19 percent in the last three months of 2012.
6 tips on buying, renting a home for extra income Feb 10, 2013 12:00 AM
New housing starts expected to rise Feb 9, 2013 12:00 AM
Residential construction in the Chicago area is seeing "fairly healthy growth, especially when you consider that housing starts in 2012 were up 31.9 percent over 2011," said Chris Huecksteadt of Metrostudy, a leading provider of market information to the housing, retail and related industries. "This was the first year-over-year increase (in housing starts) we have seen here in five or six years," he said.
Quinn signs law to fast-track foreclosures Feb 8, 2013 12:00 AM
Gov. Pat Quinn has signed a new law that’s designed to speed up Illinois’ foreclosure process. The governor’s office says the law will help restore neighborhoods and property values by decreasing the time a home sits empty and getting properties back on the market.
Luxury rental community and townhouse plan could boost residential building in Vernon HillsFeb 6, 2013 12:00 AM
Two plans of different size and scope could boost home building in Vernon Hills. The Oaks, a proposed luxury rental community on the former Kelly's Day Camp on Route 45, has received official approval for preliminary plans. Village officials also supported changes to the look of townhouses to be built on Greenleaf Avenue. The original development was approved in 2006 but was idle until another firm bought the property.
U.S. home prices rose last year by most in 6.5 years Feb 5, 2013 12:00 AM
Gurnee mayor leads by example on energy program Feb 4, 2013 12:00 AM
Gurnee Mayor Kristina Kovarik says she wanted to lead by example in touting the merits of a program meant to make homes more energy efficient while offering Chicago-area property owners a chance to tap into federal grant money available for recommended work. Kovarik participated in Energy Impact Illinois. It's part of a federal energy grant initiative that can help residents save up to $1,750 by making certain improvements to their dwellings.
Lombard panel OKs some development at Ken-Loch Feb 1, 2013 12:00 AM
Members of the Lombard plan commission have been hearing one message from the public the past five months: Preserve Ken-Loch Golf Links as open space. In a 4-2 vote, the commission suggested the land be designated primarily open space, with a maximum of 25 percent available for development. “All we're saying is to make it a bit more attractive and enticing” to developers, said plan Commissioner John Mrofcza.
U.S. mortgage rates rise with 30-year highest in four months Jan 31, 2013 12:00 AM
U.S. mortgage rates rose for a second week, increasing borrowing costs as tight supplies of listings drive up home prices.The average rate for a 30-year fixed mortgage was 3.53 percent in the week ended today, up from 3.42 percent and the highest since September, McLean, Virginia-based Freddie Mac said in a statement. The average 15-year rate rose to 2.81 percent from 2.71 percen t.
Native landscape expert to discuss ‘weed wars’ Jan 30, 2013 12:00 AM
One person's weed is another person's wildflower, and that difference in perception has led to "weed wars" as homeowners strive to convince others to go native.
Energy savings discussed: Jan 29, 2013 12:00 AM
The village of Libertyville hosts an informational meeting at 7 p.m. Wednesday, Feb. 6 to discuss a federal energy grant program that can help save residents up to $1,750.
U.S. home prices accelerate in November Jan 29, 2013 12:00 AM
U.S. home prices accelerated in November compared with a year ago, pushed higher by rising sales and a tighter supply of available homes. The Standard & Poor's/Case-Shiller 20-city home price index rose 5.5 percent in November compared with the same month a year ago. That's the largest year-over-year gain in six years. Alll but one of the cities in the index posted annual gains. The largest gains was in Phoenix, where prices jumped nearly 23 percent.
Create an organization hub at home Jan 27, 2013 12:00 AM
Getting a family organized requires more than a few well-chosen New Year's resolutions. Increasingly, homeowners are carving out a physical space — anything from a single kitchen cabinet to an entire spare room — that can function as a family information center and workstation.
U.S. new-home sales fell in Dec., sales for year up Jan 25, 2013 12:00 AM
Sales of new U.S. homes cooled off in December compared with November but for the entire year were the best since 2009. The Commerce Department said Friday that new-home sales fell 7.3 percent last month to a seasonally adjusted annual rate of 369,000. That's down from November's rate of 398,000, which was the fastest in 2 ½ years.
U.S. rate on 30-year mortgage rises to 3.42 pct. Jan 24, 2013 12:00 AM
Average U.S. rates on fixed mortgages rose this week but remained near record lows, keeping home buying more affordable. Mortgage buyer Freddie Mac says the average rate on the 30-year fixed loan increased to 3.42 percent from 3.38 percent last week. That's still near the 3.31 percent rate reached in November, the lowest in records dating to 1971.
No backyard chickens in Arlington HeightsJan 22, 2013 12:00 AM
Arlington Heights officially closed the coop on Tuesday night, voting against allowing backyard chickens in the village for the second time in a year .Several trustees weren't happy to be discussing the matter again. “Having repetitive discussion of the same subject is not a good use of the board's or the public's time,” said Trustee Thomas Glasgow.
New York City extols virtues of tiny apartments Jan 22, 2013 12:00 AM
Sam Neuman jokes that he doesn’t casually throw off his coat when he gets home at night — it would take up half his apartment.Such is life in his walk-up studio a few blocks from Manhattan’s bustling Times Square, which at 280 square feet is barely the size of a one-car garage, with just enough space for a bed, a desk, a TV stand on one wall and a kitchen against the other.
U.S. home sales dip in Dec.; 2012 best in 5 years Jan 22, 2013 12:00 AM
U.S. sales of previously occupied homes dipped in December from November, in part because of a limited supply of available homes. But for all of 2012, sales rose to their highest level in five years, The National Association of Realtors said Tuesday that sales dipped in December to an annual rate of 4.94 million. That’s down from a rate of 4.99 million in November, which was revised lower but was still the highest in three years.
St. Charles on verge of new affordable housing rulesJan 20, 2013 12:00 AM
St. Charles officials will soon vote on a plan to help ensure the affordable housing stock in the city doesn't bottom out when the housing market rebounds.
Bartlett Historical Society accepting nominations for historical homes Jan 18, 2013 12:00 AM
The Bartlett Historical Society is now accepting nominiations for its annual awarding of historical plaque to homes, commerical, public or residential buildings and barns that are at least 50 years old. Nominations are due March 1.