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Articles filed under Residential Real Estate

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  • Housing costs for U.S. renters climbed by $20.6 billion in 2014 Jan 4, 2015 7:41 AM
    U.S. renters paid $441 billion for apartments and houses this year, a $20.6 billion increase, as fewer Americans owned their homes and landlords with tight inventories raised leasing charges. Demand for rentals has grown after owners of more than 5 million U.S. homes went through foreclosure since 2007, mortgage lending tightened and younger families postponed buying because they can’t afford or prefer not to own property.

     
  • Neighborhood profile: Haverford in Schaumburg Jan 2, 2015 12:01 AM
    Haverford, built by developer Kimball Hill from 1989 to 1992, is a unique and elegant subdivision featuring four distinct communities of townhouses and single-family homes in Schaumburg. Hidden south of Higgins and west of Martingale roads on the far east side of town, Haverford is one of Schaumburg’s best-kept secrets just minutes from Woodfield Mall.

     
  • Will Schaumburg OK new apartment parking plan? Jan 2, 2015 5:04 AM
    The developer of a proposed 192-unit apartment complex on Algonquin Road in Schaumburg has endeavored to meet the request of village zoning board members to add more parking, though not the full 50 spaces asked for. The verdict on whether the revised parking plan is sufficient for a recommendation of approval is likely to be heard at the zoning board's next meeting at 7 p.m. Wednesday, Jan. 7.

     
  • Dist. 220 goes through with land buy next to Barrington High Dec 31, 2014 8:08 PM
    The Barrington Area Unit School District 220 Board of Education voted to approve the purchase of 20.75 acres of land adjacent to Barrington High School for $2.35 million at an emergency board meeting Wednesday morning. The acquisition nets the district 7.7 usable acres from Flint Creek Crossing, a commercial subdivision, and 13.8 acres of the Flint Creek Conservation Area west of Hart Road

     
  • U.S. pending home sales climb slightly in November Dec 31, 2014 11:49 AM
    The number of Americans signing contracts to buy homes rose modestly in November as a strengthening economy helped nudge some would-be homebuyers. The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index climbed 0.8 percent the past month to 104.8 from a revised 104 in October. The index remains slightly below its 2013 average but is 4.1 percent higher than last November.

     
  • Average US 30-year mortgage rate edges up to 3.87% Dec 31, 2014 11:49 AM
    Average U.S. mortgage rates rose slightly this week, but the benchmark 30-year rate stayed near a 19-month low. Mortgage giant Freddie Mac says the nationwide average for a 30-year fixed rate mortgage increased to 3.87 percent this week, up from 3.83 percent last week. The rate hit 3.80 percent earlier this month, lowest since May 2013.

     
  • U.S. home price growth slows for 11th consecutive month Dec 30, 2014 8:56 AM
    U.S. home prices rose in October at a slightly slower pace, as real estate sales have fallen and affordability has increasingly become a challenge for potential buyers. The figures mark the 11th straight month of price gains decelerating and the smallest gain since October 2012. The slowdown in price growth comes after surging double-digit increases for much of 2013.

     
  • New state office to help resolve condo disputes Dec 28, 2014 8:25 AM
    A new state law gives Illinois officials a role in resolving disputes between condominium owners and associations. Outgoing Democratic Gov. Pat Quinn signed legislation Saturday to create a new position within the Illinois Department of Financial and Professional Regulation. The ombudsperson will help resolve disputes and educate condo owners. Quinn says it will give condominium owners an alternative to litigation and could help keep costs down for property owners. State Sen. Heather Steans is a bill sponsor. The Chicago Democrat says four other states already have a condominium ombudsperson. The law takes effect July 1, 2016. It calls for the ombudsperson to provide educational materials online. It also requires condominium associations to register with the state and to have a written policy for resolving disputes.

     
  • Knocking $1 off the price of a home can earn you a lot Dec 28, 2014 7:22 AM
    A new study finds that just-below pricing on products big and small signals a bargain in our minds, especially if the price ends with the digit 9. It’s as if consumers perceive they’re getting something back from the higher round number, as one study put it. And that can pay off big if you’re selling your home.

     
  • How rent payments could help build credit Dec 28, 2014 7:33 AM
    One of the easiest ways to repair your credit history is to pay your bills on time. Every bill, every time. But the biggest bill in many households -- and one that people are likely to prioritize when money runs low -- is often left out of the equation: the monthly rent.

     
  • New Columbus model opens at Mayfair in Naperville Dec 26, 2014 12:01 AM
    Homebuyers looking for an upscale townhouse community may want to consider the Columbus model at Mayfair in Naperville. A scenic park setting and quiet walking paths enhance the M/I Homes community, where the Grant Park series with brick, stone and siding exteriors is offered.

     
  • U.S. new home sales fall 1.6 percent in November Dec 23, 2014 2:09 PM
    Sales of new U.S. homes fell in November, evidence that recent job gains have yet to boost the housing sector. The Commerce Department said Tuesday that new home sales slid 1.6 percent last month to a seasonally adjusted annual rate of 438,000, the second straight monthly decline. October sales fell 2.2 percent to a downwardly revised rate of 445,000.

     
  • U.S. home sales hit slowest pace in 6 months in November Dec 22, 2014 10:49 AM
    Fewer Americans bought homes in November as buying slid to its slowest pace in six months. The National Association of Realtors said Monday that sales of existing homes fell 6.1 percent to a seasonally adjusted annual rate of 4.93 million. That was down from a revised annual pace of 5.26 million in October. Over the past 12 months, sales have risen 2.1 percent.

     
  • Functional tinware makes an elegant addition Dec 21, 2014 12:01 AM
    Tinware, which glistens softly due to the slightly uneven texture of the cast surface, gives a refreshingly cool and dazzling impression.Tin is said to be the most expensive household metal after gold and silver.

     
  • No room for a Christmas tree? Embrace the unexpected Dec 20, 2014 6:30 AM
    When traditional Christmas decor is out of the question (in other words, if your apartment hardly holds your luggage, let alone a Colorado blue spruce), designers and retailers say there’s no reason to feel bound to the classics. Instead, try embracing kitschy decor in the interest of keeping things festive, personal and fun.

     
  • Barrington 220 nearing $2.35 million land acquisition deal Dec 18, 2014 11:42 AM
    Barrington Area Unit School District 220 has until the end of the year to finalize a $2.35 million deal to buy 21 acres of open land across Hart Road from Barrington High School. The school board this week authorized a 15-day extension of the deadline.

     
  • Average U.S. 30-year loan rate falls to 3.80 percent Dec 18, 2014 12:53 PM
    Average U.S. long-term mortgage rates fell this week, with the benchmark 30-year loan rate reaching a new low for the year. The rates’ historically low levels could be a boon to potential homebuyers. Mortgage company Freddie Mac says the nationwide average for a 30-year mortgage dropped to 3.80 percent this week from 3.93 percent last week. It is now at its lowest level since May 2013.

     
  • Osborne’s $1.3 billion property tax cut won’t stoke bubble Dec 16, 2014 8:18 AM
    George Osborne’s tax cut for homebuyers isn’t reviving concern about another property bubble. That’s according to Bloomberg’s monthly survey, which showed two-thirds of 36 economists don’t expect the move to increase the risk of overheating. The U.K. chancellor of the exchequer announced the decision to reduce transaction taxes on most homes on Dec. 3, just five months before the U.K. general election.

     
  • U.S. home construction drops 1.6 percent in November Dec 16, 2014 8:28 AM
    Construction of new homes fell slightly in November, reflecting weakness in construction of single-family homes. The Commerce Department says that builders started construction at a seasonally adjusted annual rate of 1.03 million homes and apartments last month.

     
  • The 1980s are back again: Dhurries are in Dec 14, 2014 7:00 AM
    In the 1980s, dhurrie rugs from India, with their bright colors, geometric designs and sturdy flat weaves, were all the rage. Dhurries sort of disappeared in the 1990s, but they’re back.

     
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