Chitownproperty

Cooling house prices mean that Americans have to readjust their beliefs about the reality of ownership: it can still make you wealthy, but slowly.

Could Congress take away deductions for mortgage interest and state and local propterty taxes? A bipartisan commission will propose just that in a final report Tuesday. Kenneth Harney examines the possibility of this becoming law.

Older home owners, empty nesters, and retirees consider the benefits of selling larger homes and downsizing to fit their lifestyle.

The approaching winter also means it’s time to inspect your furnace. A professional inspector can discover gas leaks, clean the ducts, and point out other problems, but you can help maintain your furnace by replacing filters regularly and cleaning out the area around the unit.

As the weather turns colder, squirrels, rats, mice, and bats look for warmer quarters; unfortunately for home owners, this often means an attic. Keep these guests out by plugging holes in your roofing, siding, and vents.

Just in time for Halloween, some do-it-yourself horror stories emphasize the need for caution and careful planning before you undertake any projects.

Lakefront luxury

Price: $649,900
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Stunning 2 bedroom, 2 bath condo from award winning developer Belgravia Group. Fantastic lakefront views from every window. Hardwood flooring, granite, stainless steel appliances, and many other upgrades. Gorgeous master bath with oversized soaking tub, separate shower and double vanity. Large bedrooms. Stellar building with 24-hour doorman, exercise facility, sundeck, party room, and beautiful lobby. In-unit washer/dryer and parking included.

If you’re downtown today, get out and celebrate the White Sox World Series championship. A ticker-tape parade starts at LaSalle and Jackson at noon, ending in a rally at LaSalle and Wacker at 12:30. Don’t forget to turn back your clocks this weekend as Daylight Savings Time ends. The time officially changes at 2 AM [...]

Sales of new single-family homes rose 2.1 percent nationally in September, and a whopping 24.9 percent in the Midwest. But at the same time, mortgage rates rose again too. The average rate on a 30-year fixed rate mortgage is now 6.15 percent, up from 6.10 last week.

More bad news about what lies in store for our heating bills this winter: Tom Skilling says this winter could be colder than last, meaning we’ll have to crank up the heat longer and higher. Make sure you check out these tips for making your home airtight and energy efficient.

Mayor Daley is headed to Washington next week to meet with US Energy Secretary Samuel Bodman to discuss federal intervention to stop rising heating costs. With natural gas prices expected to rise 50 percent this winter, Daley wants to know what the federal government plans (if any) to reduce gasoline, natural gas, and oil prices [...]

A new report by the PMI Mortgage Insurance Company puts Chicago’s chance of a real estate price drop at about 10 percent. The report, which measures market risk based on the relative value of homes, says that Chicago’s market is overpriced by 8.6 percent on average.

Although energy prices are expected to jump, many new home buyers don’t focus on energy efficiency as they shop for homes. But simple requests like insisting that a builder seal ductwork, install extra insulation, and upgrade the air conditioner can save buyers thousands over in energy costs over the life of the home.

Tips for spotting damaging wear and tear on asphalt, metal, slate and masonry, and wood shingle roofs.

An energy audit can help diagnose a “leaky” home that causes you to keep turning up the heat and spending more on heating bills.