chicago distressed properties: CHICAGO FORECLOSURES FALL - But Housing Recovery Here Not Complete! - 01/16/14 11:08 PM
In what many experts consider a clear signal that the Housing Market in Chicago may be making a comeback, Bank-Owned Foreclosed Homes, as a percentage of all homes on the resale market here, fell by 27% in 2013, versus 2012.  At the end of last year, 1 out of 5 homes for sale in Chicago were Bank Owned, versus a 28% share one year earlier, at the end of 2012.
As written in Mary Ellen Podmolik's story in the Chicago Tribune, the impact of one or more Foreclosed Homes on a residential block is often far reaching.   Besides being unsightly, and a possible draw for squatters, and crime, these … (0 comments)

chicago distressed properties: THE LIMBO OF THOSE ENDURING DELAYED FORECLOSURES - 03/05/12 12:15 PM
Under "normal circumstances," IL Foreclosures take about nine months to one year to run their course - from the first court filing of mortgage delinquency, until the homeowner if finally evicted and forced to leave their home. For many homeowners in distress, however, circumstances here are far from normal. Indeed, it is not unusual for some homeowners who haven't made a mortgage payment in two to three years to still be in their homes, waiting to be forced to leave.
Many blame the record high levels of pending foreclosures on the high level of distressed inventory that has come to market … (1 comments)

chicago distressed properties: BEST REAL ESTATE BARGAINS THESE DAYS? PERHAPS . . . REO PROPERTIES! - 02/06/11 03:17 PM
Here in Chicago, in many neighborhoods and Suburban Chicago Communities, buyers are king!  Especially those with lotsa cash, or stellar credit.
And what are these buyers looking for, gang!
BARGAINS, of course!   They want to save a lot of money.  In our clients' recent jargon, "I wanna steal da joint!"  (Remember, this is Chicago after all - many still talk this way!)
So, many call our Chicago Real Estate Team, asking for a list of Short Sale Properties - those properties where the owners are selling for less than they owe on their mortgage.  Problem here, most of the time, the … (2 comments)

chicago distressed properties: WALK AWAY? New Survey Shows 40% of Underwater FL Homeowners Would Consider It? But in Chicago? - 06/07/10 03:55 PM
Here in Chicago tonight, we're all singing "Here Come the Hawks . . . the Mighty Blackhawks . . . "
Sorry, Philly - Chicago Blackhawks in 6!
Back in the day . . . say, 2006 . . . few homeowners would consider simply walking away from their home, even if they couldn't keep up on their mortgage payments.  Why should they?   Likely, they could easily sell their homes at a small to modest profit, no matter their original equity position.
Fast forward to 2010 - a scant four years later!
For many, especially in the heavily-declining Florida Real Estate Market, home values … (7 comments)

Dean Moss, Dean's Team Chicago IL Real Estate Team (Dean's Team - Keller Williams Realty Partners Chicago IL)

Dean Moss

Dean's Team Chicago IL Real Estate Team

Chicago, IL

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Dean's Team - Keller Williams Realty Partners Chicago IL

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