Chicago Real Estate

Concept home in Florida designed for a new generation of buyers

Houses are getting smaller. No, houses are getting larger.

Financial abuse of the elderly, including pushing them into reverse mortgages without their full understanding, has been perpetrated by mortgage professionals and victims' family members.

The recent conviction of a Delray Beach, Fla., loan officer for his participation in a scheme to persuade seniors to refinance their reverse mortgages should serve as a warning to the friends and relatives of elderly people about the surprising ease with which senior homeowners can be exploited.

Buying a home is a project, there's no doubt about it. And like any other project tackled, there are moments of clarity and others of overwhelming confusion.

Market analyst and options expert Jon Najarian has listed his 10-room, 4,700-square-foot house in Lincoln Park for $2.2 million.

Q: I'm about to move into a rental situation in which I'll be the third roommate, replacing someone who's leaving. The departing tenant wants me to buy him out of his deposit. But what if the landlord charges us later for damage that happened before I moved in? How can I protect myself from this?

Q: I am 74 years old and recently have been contemplating paying off my condo mortgage. The remainder of the mortgage is $98,000 at 6 percent. Can you help me through this? On the surface it seems like a good idea, but I'm not aware of all the particulars. I am in good health and will not need the $98,000 in the near future.

Essex Place, a Hartz Homes condominium development in Elmhurst, recently became eligible for FHA-approved financing, a government-backed program that allows qualified homebuyers to purchase their own residence with a down payment as low as 3.5 percent.

Young families looking to expand, empty nesters hoping to downsize — all are 'stuck in the mud'

When Tracey and Todd Fine were engaged, they purchased a two-bedroom condo in East Ukrainian Village in 2006. The price was high, but given the white-hot market in adjacent Wicker Park, they thought it was a strategic investment.

Market analyst and options expert Jon Najarian has listed his 10-room, 4,700-square-foot house in Lincoln Park for $2.2 million.

Ask a room filled with association board members what's on their minds and they'll tell you: mostly matters of money. They want to know how to spend it, how to save it and how to get the best value for their assessment dollars.

Developments near restaurants, retailers wooing homebuyers

Chalk it up to high gas prices, new urbanism or a nostalgic longing for the downtowns of old, but many homebuyers want to be close to their favorite hangouts. Instead of spending gas and time driving into town, they want to live in town, near their favorite stores and restaurants.

When you're thinking ahead to outdoor projects, it makes sense to consider the slope of your yard.

Also on sale: Jon Najarian's 4,700-square-foot house in Lincoln Park

An English-style, east Hinsdale mansion whose 1.67-acre property holds a Batman-themed backyard swimming pool has just been listed for $2.7 million.

One of the biggest area celebrity real estate deals of the last few months, it now turns out, is one that didn't happen.

One of the biggest area celebrity real estate deals of the last few months, it now turns out, is one that didn't happen.

I recently spent time skiing with friends in Colorado. As the temperatures there felt more like March than January, it was hard not to talk about the weather ... back home. We were a large group, and although we all hailed from different parts of the country, each of us reported the same thing: This was the winter that never happened.

DEAR TIM: I'm thinking of buying a home that has significant cracks in the concrete foundation. Family members are urging me to run away from this house. I'm thinking it's a deal and the cracks can be repaired. How would you assess the situation and what are some of my repair options? Are there any unintended consequences that will come up later if I decide to purchase this home? I need some clarity to help me make the right choice. --Peggy P., Rochester, N.Y.

Fern Simon and her husband, Ehud Kalai, surround themselves with the clean, simple lines of 20th century decorative arts and furnishings.

A simple broken part can often signal the end of a major appliance, sending a consumer out to shop for a new refrigerator, stove, air conditioner or clothes dryer.

Pulte Homes will introduce its new lifestyle concept designs at a grand opening from noon to 4 p.m. Feb. 18 at Prescott Mill Crossings in Oswego.