The number of bank-owned properties on the market has dropped 31.1% year-over-year. Illinois is right in line with a 29.7% decrease in foreclosures. Does this have a correlation with rising home prices?
After the real estate crash, bank-owned properties flooded the market. Good news for those home buyers looking for a bargain, bad news for sellers watching their property value fall.
Over the last couple of years, foreclosure numbers have been dropping and as a result, we've seen home prices rise.
Now you can't expect prices to increase to pre-crash levels as that's likely what caused problems in the first place. However, homeowners … (0 comments)
foreclosures: Bargains to be had with Wheaton Foreclosures
- 04/21/16 02:15 AM
Foreclosures in Wheaton IL While distressed sales are down over much of the Chicago suburbs, there are still some great bargains out there to be had on these bank owned homes. Wheaton is a great example! Who wouldn't want to call this community home? As perhaps one of the premiere Chicago suburbs, your family could move in now and save some serious coin on these Wheaton IL foreclosures.
There are currently 7 bank owned properties for sale in Wheaton and they are evenly spread throughout the community. Prices range from under $100,000 up to $379,900. A few of them are under contract but more … (0 comments)
foreclosures: 7 Signs the Real Estate Market is Back!
- 02/19/15 12:59 AM
Despite the doom and gloom reported in the media, the signs are out there. Step away from the national headlines and talk to your local real estate professional. Real estate is back! EXISTING HOME SALES ARE UP Over the last few years, existing home sales are up overall. Of course they fluctuate month-to-month and seasonally. New home construction is also on the rise. PRICES & APPRECIATION HAVE STABILIZED Average home prices across the nation have stabilized along with expected appreciation. According to financial experts, not Realtors, the average home in the U.S. is expected to appreciate over 3% each year for the … (3 comments)
foreclosures: Foreclosures No Longer a Problem in Fox Valley Real Estate Market
- 01/14/15 12:34 AM
Good news for home sellers in the Fox Valley, not so good news for home buyers. According to recent figures from the National Association of Realtors, distressed property sales are down. In fact, they're dropping like a rock. The chart above shows national figures. How are things in our local market? The Fox Valley real estate market, comprised primarily of St Charles, Geneva and Batavia Illinois, is following along the same national trend but with slightly higher figures. Our market seems to be about 10% higher than the national average. January 2012 41% of home sales were banked owned or foreclosures. January 2013 saw a negligible drop to 40%. January 2014 we dropped to 32%. By December … (0 comments)
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Foreclosures are falling as home prices rise 
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