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Not So Bad, 2016 Real Estate Forecast Steady

The outlook might not be as bullish as it was a few months ago, but according to the ULI Real Estate Consensus Forecast 2016 won’t be too bad for commercial real estate.

The forecast boldly predicts a fairly healthy pace of economic expansion. Gross domestic product (GDP) growth for this year is expected to be on par with the 2.4 percent that was recorded in 2014, while strengthening to 2.8 percent in 2016 and 2.7 percent in 2017. Interestingly, 2016 and 2017 predictions are at the highest levels in eight years, comparable with the 2.7 percent GDP growth that occurred in 2006.

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Engineering News Record Releases List Of 400 Best Contractors

Engineering News Record has released it’s annual list of the top 400 contractors in the nation. As usual, Chicago is well represented. O’Neil Industries, Clune Construction, James McHugh Construction, The Walsh Group Ltd., Clayco Inc., Power Construction Co., Pepper Construction Group and Leopardo Cos. Inc. are just some of the area contractors that made the list.

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Top Ten Chicago Real Estate Blogs

We love a good blog! Here are ten of the best Chicago real estate blogs. A great city deserves great blogs!

Curbed Chicago – a great blog devoted to Chicago’s wonderful diverse neighborhoods.

Yo Chicago – A fresh take on homes, apartments and neighborhoods in Chicago & suburbs.

Getting Real – Getting Real is Gary Lucido’s irreverent blog about the Chicago real estate scene – the market, the industry, and the players. Gary is the President of Lucid Realty, which he founded with his partner, Sari Levy, seven years ago out of frustration with the real estate industry.

Crib Chatter – The Dish on the Chicago Housing Market

Chicago Magazine’s Real Estate Blog – Chicago’s premier local magazine’s take on the real estate industry.

Dreamtown – an inside look at Chicago’s real estate trends.

Homescout – Another well done blog highlighting Chicago’s market.

Movato – Comprehensive blog devoted to market trends.

Lee Bey – Gorgeous photography of the Windy City.

Midwest Wrecking Chicago – Ok, a little shameless self promotion never hurt anyone!

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Deadline Nears for Chicago Neighborhood Development Awards

Time is running out! Online applications for 22nd Annual Chicago Neighborhood Development Awards are due by September 10th.

From their website:

Established in 1995, the Chicago Neighborhood Development Awards (CNDA) recognize the essential role that both non-profit and for-profit developers play in building communities in Chicago-area neighborhoods. The Awards recognize outstanding achievement in neighborhood real estate development and community building, especially the achievements of community development corporations (CDCs), other community-based organizations and for-profit developers working to build healthier neighborhoods in the Chicago metropolitan area.

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Top 20 Real Estate Markets for July 2015

Here are the top 20 real estate markets for July, 2015 according to realtor.com. Here’s a short excerpt from the article:

Based on data for the first three weeks of July, the median list price increased to $234,000, up 7% year over year and 1% over June. Median days on market increased to 69 days, down 7% year over year but up 5% month over month. Housing supply usually peaks in July or August as families rush to close before the school year begins.

 

1) San Francisco, CA
2) Denver, CO
3) Dallas, TX
4) Vallejo, CA
5) Santa Rosa, CA
6) San Jose, CA
7) Midland, TX
8) San Diego, CA
9) Ann Arbor, MI
10) Santa Cruz, CA
11) Detroit, MI
12) Sacramento, CA
13) Stockton, CA
14) Yuba City, CA
15) Columbus, OH
16) Austin, TX
17) Los Angeles, CA
18) Oxnard, CA
19) San Antonio, TX
20) Fort Wayne, IN