Luthetis Realty Group

08/19/2023

Unlike other cities, Chicago has an abundant supply of homes that shows no sign of running out.
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Chicago is classified as a cool city, meaning it has sufficient housing stock due to its population loss. Although Chicago ranks near the bottom for new housing permits among 27 major US metro areas, its low rate of building is not a major concern due to its population decline. St. Louis and Detroit...

08/07/2023

Why Affordable Invest South/West Apartments Cost More to Build

Luthetis S Carey is a real estate agent with Luthetis Realty Group. Check out Luthetis S Carey's listings or office listings.

08/06/2023

The Federal Reserve Has Paused Rate Hikes. Here's What That Means for Home Equity Loan Borrowers
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The Federal Reserve recently opted to pause interest rate hikes in response to lower inflation levels. This could be beneficial for those looking to take out a home equity loan, as the cost of borrowing is likely to remain steady. Despite the pause, borrowers should still apply soon as the Fed is se...

07/29/2023

Study: Chicago has second highest commercial property taxes in country
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According to Ted Dabrowski from Wirepoints, Chicago is facing the risk of a “doom loop” due to its high crime, bad schools, empty downtown office buildings, and high taxes that are driving businesses away. A Lincoln Institute of Land Policy study found that Chicago has the second highest commerc...

07/20/2023

Illinois Cities on Best Places to Live

Luthetis S Carey is a real estate agent with Luthetis Realty Group. Check out Luthetis S Carey's listings or office listings.

07/11/2023

Chicago's ambitious plan to convert 5 million square feet of empty office space into affordable housing places a big bet on remote work
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Chicago's downtown area was once bustling with activity, however the pandemic and remote work trend has caused a record-high vacancy rate in 2023. To address this issue, the city has approved three projects to turn vacant commercial space into affordable housing. The LaSalle Reimagined Initiative is...

07/03/2023

Mortgage Rates Begin Cooling, Says Freddie Mac; Economists Forecast A Drop Later This Year
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Mortgage rates have been decreasing for three consecutive weeks, with the 30-year, fixed-rate mortgage averaging 6.67% and the 15-year, fixed-rate mortgage averaging 6.03%. Despite the decrease, the housing market remains costly and inventory challenges persist. Economists are now projecting mortgag...

06/27/2023

Find out if it's time to sell your home
How much is your home worth? Type your property address and get a quick home estimate.

How much is your home worth? Type your property address and get a quick home estimate.

06/21/2023

Why '20 Percent Down' Is A Home-Buying Myth In 2023
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The requirement of a 20% downpayment for a home loan is no longer the standard, and buyers can now put down anywhere from 5-20%, depending on their situation. Factors such as credit score, income, and age all affect the amount of the downpayment, with conventional loans requiring a minimum of 3%. Ad...

06/12/2023

Pros of Living in Chicago

06/11/2023

Back-to-office trend fades, worsening potential ‘doom loop’ for big downtowns like Chicago’s – Wirepoints
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The pandemic has caused a "doom loop" for downtown areas like Chicago, where office occupancy has flatlined at around 50% of pre-pandemic levels. This downward spiral is caused by the reduced assessed value of big office buildings, leading to less property tax and reduced government services. San Fr...

06/07/2023

The housing slowdown is a top signal that the US is headed into a moderate recession, Fannie Mae says
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Fannie Mae's chief economist Doug Duncan warned that the US is headed into a moderate recession, citing a slowdown in US housing activity as a major indicator. Existing home sales have plummeted to their lowest level since 2010 and are on track to post further declines this year. High borrowing cost...