short sales: Skip Foreclosure and Do a Short Sale Instead! - 11/01/19 10:33 AM
"Hello Foreclosure, today's the day!" says no one ever.
Foreclosure may seem far off when the first 90 day late notice lands in your mailbox. Mortgage lenders are often slow to respond to late payments and it can vary by lender.
In Illinois, a judicial foreclosure state, it can be a very long period of time between a 90 day late notice (pre-foreclosure) and the Sheriff knocking on the door to evict a home owner.  
In fact, banks prefer short sales over the lengthy foreclosure process.  Many lenders have relaxed their rules for what falls under a short sale requirement and some have even … (0 comments)

short sales: Short Sale VS Bank Owned REO - 06/13/09 01:28 PM
Elgin, IL Short Sales and REO's
Today, I've run a search on the city of Elgin and have found 156 single family homes listed as Active with either Short Sale or Bank owned REO indicated.  They range in price from $44,900 at 216 Ann http://cli.gs/DEsar1  all the way to  $899,900, 200 Wrenwood Circle- http://cli.gs/GqaQe7). 
In recent weeks, the media has shouted long and loud about foreclosures, foreclosures, foreclosures!  Well, the short sale is a foreclosure and I have to say, it can be disheartening to home buyers who are seeking a deep discount.  The top 3 biggest deal breakers I have found are hidden liens on the … (0 comments)

short sales: 5 Tips on Finding Foreclosures from CNN Money - 05/11/09 08:50 AM
Here is a summary of a great article on Finding Foreclosures from CNN Money
1-It is easier to find a foreclosure today, you use a website like Realty Trac or Foreclosurepoint.com or better yet, find a specialist agent like me who can navigate the foreclosure market on your behalf.  Agents have access to the "remarks" field in their databases and can pull out more detailed information than a search engine. 
2-It's best to buy straight from a bank.  The downside is the property is sold as-is, no disclosures but REO's are Real Estate Owned, meaning the foreclosure has been finished, the property is owed only by … (2 comments)

short sales: I love REO's - 04/13/09 06:39 AM
Anytime an Elgin investor asks me about the market and short sales, I always try to mention REO's.  Why?  Well, because short sales take forever, they can be messy, the offer can get lost in the shuffle and another offer can come along and trump yours in the middle of it all.  Nothing worse than waiting 11 weeks for an answer only to get a NO with a higher offer on the table ousting my patient buyers.  But the REO's, now that is a sweet spot.  Of course, only for the strong stomachs and serious investor, because if you want a deal … (4 comments)

short sales: Why Zillow doesn't work - 03/29/09 07:50 AM
I just Zillowed my own house and it was off by about $35,000 today.  Good thing I can check my numbers, since I'm a licensed Realtor!  It's a good idea for all home sellers to get a reality check and dig a little deeper for a list price.  Your neighborhood Realtor can help streamline the pricing process by helping you get the "bad eggs" out of the analysis.  Not only will they give you an objective price,  they have the ability to filter out the foreclosures, short sales and other "dings" in your market to show what a bank or appraiser … (1 comments)

 
Jennifer Kinzle, Top Rated Kane County Agent! (Charles Rutenberg Realty of Illinois)

Jennifer Kinzle

Top Rated Kane County Agent!

St. Charles, IL

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Charles Rutenberg Realty of Illinois

Mobile: (630) 854-4360

Office: 630-854-4360

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