Chicago is abuzz as the decision on our 2016 Olympic bid is only days away. I feel a personal connection to the bid for this opportunity as my great grandmother helped organize the A Century of Progress International Exposition, and another distant relative, Rufus C. Dawes, (brother of former U.S. Vice President Charles G. Dawes), served as President of its Board of Trustees. This 100th anniversary celebration for Chicago welcomed people from all over the world in 1933-34.
If you’re considering buying your first home, time is running out to take advantage of the first-time home buyer tax credit.
The up-to-$8,000 credit, which can also be used toward a mortgage down payment, expires on December 1st. Buyers must close on their purchases and receive the title transfers to their homes before that date to qualify.
Despite the name, the credit is available not only to those who are purchasing their first home but also to those who have not owned a “principle residence” in over three years.
Last Thursday I was featured along with one of my clients in a Crain’s Chicago Business video reporting on the recent rise in Chicago home sales.
I’d like to make one important correction. The reporter states in the video that in September, I received three “offers” on the luxury properties I had listed for sale. Actually, I’ve had three multiple offers (i.e. buyers bidding against each other for the same property) plus additional offers on four more homes I have listed, for a total of ten offers so far in September.
The fact that there are once again multiple buyers vying for the same properties (in high price points, no less) is a major development. I am feeling very encouraged about our prospects for a healthy fall market.