Articles filed under Residential Real Estate

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Mortgage rates in the u.S. Climb to the highest levels in a year May 30, 2013 12:00 AM
U.S. mortgage rates rose to their highest levels in a year as reports showed the housing market and economy strengthening, signaling to bond investors that the Federal Reserve may reduce efforts to push down borrowing costs. The average rate for a 30-year fixed mortgage jumped to 3.81 percent in the week ended today, from 3.59 percent, McLean, Virginia-based Freddie Mac said in a statement. The average 15- year rate increased to 2.98 percent from 2.77 percent.
Sales of bank-owned homes hit 5-year low in 1Q May 30, 2013 12:00 AM
Sales of bank-owned homes have plunged to a five-year low, the latest evidence that the nation's foreclosure woes are easing as the U.S. housing market recovery gains momentum. For the January-March quarter, sales of bank-owned homes fell 16 percent from the previous three months and were down 23 percent versus the first quarter of 2012, foreclosure tracker RealtyTrac Inc. said Thursday.
Mayor: County must help homeowners May 29, 2013 12:00 AM
Letter to the editor: Franklin Park Mayor Barrett Pedersen urges the Cook County Board to investigate skyrocketing real estate taxes for homeowners, and find some relief. "If the economy is truly to recover, we must stabilize our neighborhoods and protect our homeowners," he writes.
Homes have more value than parking May 29, 2013 12:00 AM
Letter to the editor: Jill Pellican objects to an Arlington Hts. church's plans to raze nearby homes to expand its parking. "Since there is already a great deal of parking available to the church wouldn’t it make more sense to sell the homes to families?: she asks.
Streamwood hears proposal for senior housing May 24, 2013 12:00 AM
Streamwood could soon have new housing available for senior citizens, should a recent proposal to build a 140-unit independent and assisted living retirement community be approved by the village. Spectrum Retirement Communities is interested in opening a new facility on roughly 9 acres on the north side of Schaumburg Road, just west of Bartlett Road and the forest preserve.
U.S. rate on 30-year mortgages rises to 3.59 pct. May 23, 2013 12:00 AM
Average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan increased to 3.59 percent this week.
U.S. new home sales up 2.3 percent in April May 23, 2013 12:00 AM
Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. New-home sales rose to a seasonally adjusted annual rate of 454,000 in April, the Commerce Department said Thursday. That was up 2.3 percent from March and just slightly below January's 458,000.
Wheeling settles PhilHaven lawsuit, apartments will be built May 23, 2013 12:00 AM
PhilHaven, a proposed apartment building for people with mental and physical disabilities, will be built in Wheeling after all. The village and the developers reached a settlement Wednesday to build the apartments and end the discrimination lawsuit against the village.
Elgin downtown group celebrates rebuilding along Fox May 21, 2013 12:00 AM
Aurora is developing a new park along the Fox River. Batavia's downtown has a streetscape project. Geneva is known for its development of Third Street. St. Charles, too, has focused on beautifying its downtown and harnessing the Fox River as a natural resource. "I think it's just amazing what's going on in all of our communities up and down the Fox River," said Tom Armstrong, chairman of Elgin's Downtown Neighborhood Association design committee who met with other town leaders to share ideas.
A colorful mudroom serves a wide range of functions May 19, 2013 12:00 AM
With her three kids' busy school and sports schedules, it's no wonder Jamie Adcock requires a one-stop spot in her Willowbrook home to keep all of their gear organized and clean. As a bonus, her mudroom is also a style powerhouse thanks to vividly colored cabinetry that hides clutter and makes a statement.
Front-burner issues from a food writer’s renovation May 18, 2013 12:00 AM
A few months ago I took the plunge and had my kitchen redone. For years I'd put it off because it was so expensive. Also, as a cookbook author and food writer, I spend nearly all of my waking hours in and around the kitchen. Being without one for six to eight weeks seemed unimaginable.
Trump to take stand Tuesday in Chicago trial May 13, 2013 12:00 AM
Donald Trump is set to testify Tuesday at a civil trial where the developer-turned-TV personality is accused of enticing investors to buy condos at his namesake skyscraper in Chicago with promises of profit-sharing, and then quietly reneging on those promises. Attorneys for both sides suggested in their opening statements to jurors Monday that a key aspect of the trial will be the management style of Trump, who has gained famed for firing contestants he deems incompetent on his popular TV show, "Celebrity Apprentice."
District 211 students ready to show off houses they built May 13, 2013 12:00 AM
After two years of work, three homes built by Palatine-Schaumburg High School District 211 students are ready for families to move in. An open house will take place from 2 to 4 p.m. on Sunday, May 19, at the homes, located at 72 W. Illinois Ave., 86 W. Illinois Ave. and 151 Boynton Ave. in Palatine. The public will have an opportunity to bid on the houses at the open house events.
Moms show their kids the real estate ropes May 12, 2013 12:00 AM
When Jeff Cadwallader moved back home from Colorado to help his mom Jeanne with her business, he became a third-generation Realtor. On this Mother's Day weekend, Jeanne and Jeff are one of many mother-child Realtor teams working in the Chicago suburban market.
Decorating tips for making a rental space your own May 11, 2013 12:00 AM
It's yours, but it isn't. A rented apartment or house can be a wonderful place to live, and a challenging place to decorate. The restrictions are many: Landlords often want their white walls to stay white.
As housing prices rise, homeowners start delayed wish-list projects May 11, 2013 12:00 AM
Claudia Brown, a kitchen and bathroom designer for Home Depot, is witnessing what she's rarely seen in the past six years: customers knocking down walls again. Spurred by rising home prices, homeowners who spent the worst housing downturn since the Great Depression taking on only must-do repairs are again starting wish-list projects.
St. Charles man explains why ‘complicated’ addition has taken decadesMay 9, 2013 12:00 AM
Why has it taken Clifford McIlvaine decades to finish an addition to his St. Charles home? "It's complicated," said the 71-year-old after offering the local media a tour of his property Thursday. "It's not a simple home structure. That's what people don't understand. What is the crime for taking too long to do something? I should be commended for taking time to do it right."
Home builders need workers to keep up with demand May 9, 2013 12:00 AM
The resurgent U.S. housing market has sent builders calling again for Richard Vap, who owns a drywall installation company. Vap would love to help. And he would — if he could hire enough qualified people. “There is a shortage of manpower,” says Vap, owner of South Valley Drywall in Littleton, Colo. “We're probably only hiring about 75 or 80 percent of what we actually need.”
Saving ash trees is even more urgent May 6, 2013 12:00 AM
Letter to the editor: Christine Sacks argues that with the recent flooding, saving the ash trees instead of felling them becomes even more urgent.
Barrett a good name for Palatine facility May 6, 2013 12:00 AM
Letter to the editor: Patricia Herrmann says the proposed supportive housing facility in Palatine is welcome news, indeed. "Thank you to Palatine for being a leader in recognizing the need for this facility," she writes.