Is the Market Going to Turn - 09/30/10 08:37 PM

 
 
The Chicago Tribune today had a story on the mortgage debacle. Data for the eight counties was displayed and figures for inventory depletion (abut 23 months) was given.
For this market, there is a 1 month delinguency on mortgage payments for 20% of the market. The report states that of those in this category, 80% will fall into foreclosure or short sale.
This is one of the strong points of the Chicago market. Given the above information, there are markets in the 8 county area that are experiencing price increases and enjoying new construction. The light above is … (2 comments)

Real Estate Accrued Data - 09/29/10 10:11 PM
Ha! Market data says slump is over.
This is true if you are in my data base. My foreclosure inventory is booming.
How are you (your clients) doing?
… (1 comments)

REO Signed Contracts - 09/29/10 09:59 PM

REO's can be simple transactions, but you can not begin processing the mortagage application until the buyer has received a contract signed by seller. Minor detail in most transactions.
The REO transaction has additional wrinkles. The seller (bank) normally has an intervening contract addendum that requires approval. Everything is in limbo until buyer has completed this addendum and submitted it to the asset manager. Minor detail until lender is foreced to give written approval 10 days from closing date.
Sounds like a problem but not a big deal unless you have a buyer who is at the limit. I usually … (3 comments)

600 N Decatur, Hoffman Estates, IL 60194 - 09/28/10 08:46 PM
  $125,000
This three bedroom, 2 bath home is corporate owned and is sold as is. There are no seller disclosures. Two miles from expressway access and one of the US largest shopping malls. Some investment in dated decorating would be in order. Property has a deck and a two car detached garage
    
 
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642 Forum, Roselle, IL 60172 - 09/27/10 08:54 PM
      $120,000
 
 COMPLETELY REMODELED TOWNHOME IN VENTURA 21. REMODELED KITCHEN W/42' CABINETS, REMODELED BATHS, 6 PANEL DOORS, VERY NEUTRAL, ALL NEW WINDOWS AND SLIDING DOORS, NEW CEILING FANS AND LIGHTING THROUGHOUT. CLOSE TO HIGHWAYS, WALK TO COMMUTER TRAIN AND SHOPPING.
Corporate owned, sold as is with no disclosures by seller
 
 
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Stable - Decreasing - 09/20/10 09:24 PM
BPO's require a statement as to the stability of the market the selected property is in. In the 9 county Chicago metro area, I am finding that the answer is becoming stable in more an more zip codes.
Is this your experience in your market area, or am I getting a false positive?
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Can't Protect Buyer From Being an Idiot. - 09/20/10 09:03 PM

A buyer bought one of my foreclosed properties with conventional financing and checked and initialed the "as is" provision. They did a fianl walk through and indicated that they could not proceed due to the condition of the property.
Now I am trying to decide where to spend the earnest money while placing the propety back on the market.
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Downers Grove, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/16/10 10:40 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in Downers Grove, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
  … (0 comments)

Lisle, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/14/10 09:57 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in Lisle, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
 
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Blackberry Intermittant Reception - 09/14/10 09:14 PM

I have been having problems with conversation breaking up on my Blackberry. I am in the Chicago area, so don't believe it is a signal problem. the problem is static or interruptions in the conversation. I have left voice mail messages and the recipient has trouble understanding some of the message.
The unit is a 8800 series and wondering if anyone else has a similar problem. Trying to determine if it is hardware related or a local service problem.
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Algonquin, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/13/10 10:31 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in Algonquin, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.

 
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South Elgin, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/12/10 11:07 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in South Elgin IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.

 
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Batavia, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/12/10 11:03 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in Batavia IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
  … (0 comments)

Geneva, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/12/10 10:58 PM

In the table below lists all of the single family detached and single family attached homes currently on the market in Geneva IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.

 
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Streamwood, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/12/10 10:43 PM
 
 
 
 
 
 
 
 
 
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Barrington Area, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/11/10 07:33 PM

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Wheaton, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/11/10 07:28 PM

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Roselle, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/11/10 07:22 PM

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Bloomingdale, IL - Currently Available Homes by Price, Time on Market - August, 2010 - 09/10/10 10:23 PM

In the table below lists all of the single family detached and single family attached homes currently on the market in Bloomingdale, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
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Properties of Sentimental Value - 09/10/10 10:12 PM

Labor day week is when I finally closed on my deceased parents house. This property had been in the family since 1958.
My grandfather bought it as a retirement property at the Lake of the Ozarks. When my parents retired,they bought it from my grandfather because he could not own real estate when admitted to a retirement home (sound familiar to anyone).
They made modifications (small cabin) keeping the old house surrounded by a bigger new house. You wouldn't know it, if I hadn't told you. Twenty five years later it needed new owners, but my sibling and I agreed … (1 comments)

Bartlett, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/02/10 07:30 PM

In the table below lists all of the single family detached and single family attached homes currently on the market in Bartlett, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
 
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Lincolnshire, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/01/10 11:38 PM
In the table below lists all of the single family detached and single family attached homes currently on the market in Lincolnshire, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.

 
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Winnetka, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/01/10 09:55 PM

In the table below lists all of the single family detached and single family attached homes currently on the market in Winnetka, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
  … (0 comments)

Elmhurst, IL Currently Available Homes by Price and Time on Market for August, 2010 - 09/01/10 09:40 PM

In the table below lists all of the single family detached and single family attached homes currently on the market in Elmhurst, IL  The data lists available homes by price range with average time on market in each range.
Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.
 

 
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David Spencer Chicago Area Commercial-Residential R.E.

Bloomingdale, IL

More about me…

Keller Williams Team Realty

Address: 800 E Northwest Highway, Suite 200, Palatine, IL, 60074

Office Phone: (847) 241-2200

Cell Phone: (630) 750-4255

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Real estate topics on better business performance, education, advanced techniques for selling/buying residential, commercial and investment real estate; 1031 tax deferred exchange, licensing; anecdotes and stories to ponder.


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