As a Logan Square resident and Chicago Real Estate Broker, I am constantly reading various media sources about our local housing market.  It bothers me that the national news reflects so much on our local situation when in fact it doesn’t at all.  People often see the pricing declines in California and think it applies locally.  Further people often read general local studies on pricing and apply it to themselves. 

Chicago has hundreds of separate real estate markets depending neighborhood, location within the neighborhood, property type, size, finish level plus much more.  The point is to get specific pricing information about your property and do not rely on general data studies that look broadly at these markets.

An example of a broad study follows:  http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=31845.
  

As a Chicago real estate broker, I am often asked whether home improvements make financial sense.  Generally home improvements do not provide a short term return on investment.  However, money doesn’t necessarily have to be the only goal in mind when thinking about home improvements.  I think it is also important to think about whether the improvement will bring a positive lifestyle change such as improving your kitchen so you can spend more time entertaining.  Or perhaps adding a second bathroom in the basement will help you compete in the market place at some future time when you decide to list. 

If you are thinking about home improvements, do your research and take your time thinking through this decision. 

Part of my job as a Chicago real estate broker is to keep you informed and provide pertinent information.  So on this subject you may want to check out the following Sun-Times articles as part of your research:

http://searchchicago.suntimes.com/homes/news/1278327,remodelchart14.article

http://searchchicago.suntimes.com/homes/1278211,HOF-News-cover14.article