In what could be exciting news for first time buyers, a new bill pending in Congress would expand FHA loans to more condo buildings.
In recent years a cumbersome re-certification process has been required in order for condominium buildings to be eligible for FHA loans for purchasers. The new bill would tweak those rules and, because of the price point and proliferation of condos, would expand access for many first time buyers.
Read more at the Chicago Tribune here.
Wrigleyville will begin its transformation next week when a large, mixed-use project breaks ground.
M&R Development and Bucksbaum Retail Properties will be building a 148-unit building with 150,000 square feet of commercial space next to Wrigley Field at Addison and Clark on a 2.3 acre site.
Read more on the project at Curbed Chicago here.
The latest numbers are in and Naperville was the champion - the top-selling suburb for the first half of 2016.
The west suburban powerhouse had a total of 1,402 sales, a nearly 12 percent increase from the previous year.
Aurora was second with 1,307 sales, an increase of 6.96 percent. Plainfield was third with 918 sales, an increase of 16.35 percent.
Read more at Chicago Agent Magazine here.
The latest results are in and the Near North Side is again the champ for top selling Chicago neighborhood in the month of June.
Sales in that area rose almost 17 percent, with a total of 348 sales. It was followed by West Town with 223 sales and Lincoln Park with 139 sales.
When adjusted for single family homes only, the top selling neighborhood was Norwood Park, with an increase of more than 33 percent to 56 sales. It was followed by Portage Park with 51 sales, and Garfield Ridge with 42 sales.
Read more at Chicago Agent Magazine here.
Chicagoland had the highest home price growth in the nation, according to the latest research.
The Case-Shiller Home Price Index from S&P shows that the area's home prices rose by 1.8 percent from April to May, double the national average. Year-over-year growth was more modest at 3.7 percent.
Read more at Chicago Agent Magazine here.