federal government: Would You Rather Have That House Rented OR Vacant? - 01/13/12 03:41 PM
As the Federal Government seriously takes on the task of dealing with the inventory of foreclosed properties in this country (and we here in the greater Chicago-land area made the unfortunate top 5 list of cities with significant federal concentration of foreclosed homes), it begs the question:
Would YOU rather have the house on your block (which the prior owner lost due to foreclosure) vacant or rented?  and why?
Michael Hobbs, PahRoo Appraisal & Consultancy
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federal government: Chicago Is A Close 2nd - 01/11/12 12:19 PM
Although 2012 is barely underway, it is only January and the news in the housing market is either disheartening or encouraging.  It all depends on your perspective.
For homeowners, the prospect of the more foreclosed properties coming back into the market is anything but welcome news.  The potential impacts: pressure on existing market prices pushing sellers into short sale territory, existing sellers competing with distressed properties, shifting buyer attitudes towards the acceptance of distressed properties in lieu of conventional sales, deterioriating neighborhoods due to a reduction in owner occupants.
On the other side of the equation are investors and neighborhood advocates … (0 comments)