Chicago home prices drop 14.3 percent in 2008

IllinoisRealEstate.com In The News From Medill Money Mavens (medillmoneymavens.com)

BY INYOUNG HWANG - MEDILL NEWS SERVICE (medillnewsservice.com)

“There’s no doubt we’ve seen a softening of prices throughout Chicagoland,” said Brian Nygard, a Chicago-based realtor who runs the website IllinoisRealEstate.com and writes regularly on the site’s blog. “There’s just not as much demand.”

Read Full Article: http://medillmoneymavens.com/2009/02/24/chicago-home-prices-drop-143-percent-in-2008/ (copy & paste)

Selling in Chicago - Closing Costs to Consider

I see this question come up time and time again and wanted to provide a good recap of what to expect.

-$3.50 per $1,000 of sale price for Cook Country Transfer Stamps.
-Approximately $750 for title insurance.
-Approximately $500 for Chicago Real Estate Attorney fee.
-The agreed upon proration of real estate taxes and assessments.
-Any pending special assessments.
-Ancillary can costs $100-$500+/-.
-Real Estate Commission - Listing your property with a Broker (like IllinoisRealEstate.com) that is paid at closing.

A good way to get a very close estimate is to have your real estate attorney could draft a preliminary HUD-1 settlement statement for you based on your anticipated selling price.

Please email me if I can answer any questions or help with listing your Chicago home for sale.

Thanks,

Brian Nygard
Realtor/Owner
IllinoisRealEstate.com
Chicagoland Residential + Commercial Real Estate Services
Cell/Text: (312) 217-8002