illinois: Illinois home sales up 35.6 percent in 4th Quarter - 02/18/10 02:24 AM
Illinois home sales up 35.6 percent in 4th Quarter. Statewide home sales increased 35.6 percent in the fourth quarter, while statewide median home prices were down 5.5 percent during the same period, according to the latest IAR home sales report. Year-end sales for 2009 were down 1.4 percent and the year-end statewide median home price declined 14.6 percent from the year before. Get market talking points and the U of I forecast. (Ref. IAR) … (0 comments)

illinois: FHA Changes Coming Our Way... - 01/26/10 02:53 PM
I just recieved an interesting email from a local BOA loan officer.  He gave reference to a HUD article talking about the recent or upcoming changes for FHA.  Here are some cliff notes on the article:
Cliff's notes from the article below:
1. The UFMIP will be increased from 1.75% to 2.25%, they may also increase the monthly MIP...they're saying this will occur in Spring
2. Borrowers with FICO scores less than a 580 will need at least 10% down...they're aiming for early summer
3. Seller contributions will be reduced from 6% to 3%...they're aiming for early summer on this … (0 comments)

illinois: Illinois home sales see fourth consecutive gain in December - 01/26/10 02:35 PM
Illinois home sales see fourth consecutive gain in December. Statewide total home sales in December 2009 were up 20.1 percent from the year before, while year-end home sales for 2009 were down just 1.5 percent, according to the latest IAR home sales report. Get market talking points and the U of I forecast.  (Referenced IAR)
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illinois: The IRS releases new forms, instructions for homebuyer tax credit. - 01/26/10 02:31 PM
The IRS has released the revised Form 5405 homebuyers need for the extended and expanded tax credit. The revised form now includes guidance for repeat buyers who are eligible to claim the $6,500 tax credit as well as information for first-time buyers claiming the $8,000 credit. Find the form and read more about the homebuyer tax credit. (Referenced IAR)
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illinois: IRS releases new form 5405 for claiming homebuyer tax credit - 01/20/10 02:47 AM
IRS releases new Form 5405 for claiming homebuyer tax credit. On Jan. 15, the Internal Revenue Service (IRS) released the new Form 5405, First-Time Homebuyer Credit and Repayment of the Credit.  (Reference IAR)
 
Tim IrelandRE/MAX All PropertiesBroker Associate
Certified Distressed Property Expert C.D.P.E.
(815) 215-4018 - Direct(815) 485-5690 - Fax
Click here to search all homes for sale in the MLSClick here to read the Lincoln Way Real Estate BlogDistressed Home Owners click here for assistanceAbout Me
(1 comments)

illinois: FHA to announce changes this week - 01/20/10 02:44 AM
FHA to announce changes this week. The Federal Housing Administration (FHA) is expected to announce major changes to its program this week in an effort to build up its capital reserves, according to NAR. FHA will be looking to improve loan quality, increase mortgage insurance premiums and change lender eligibility. Read this NAR Regulatory Issue Brief to learn more.  (Reference IAR)
 
Tim IrelandRE/MAX All PropertiesBroker Associate
Certified Distressed Property Expert C.D.P.E.
(815) 215-4018 - Direct(815) 485-5690 - Fax
Click here to search all homes for sale in the MLS
Click here to read the Lincoln Way Real Estate Blog
Distressed … (0 comments)

illinois: Help for foreclosures - 01/20/10 02:42 AM
Help for foreclosures. 2009 was a record year for foreclosures and more are expected to follow in 2010, but as this IARbuzz.com post points out, home loan modifications are growing and communities hurt by foreclosure are getting much needed Neighborhood Stabilization Program funding.  (Reference IAR)
 
Tim Ireland
RE/MAX All PropertiesBroker Associate
Certified Distressed Property Expert C.D.P.E.
(815) 215-4018 - Direct
(815) 485-5690 - Fax
Click here to search all homes for sale in the MLS
 
Click here to read the Lincoln Way Real Estate Blog
 
Distressed Home Owners click here for assistance
 
About Me
(0 comments)

illinois: What is a Certified Distressed Property Expert (C.D.P.E.)? - 01/13/10 03:43 PM

 
For those who do not yet know, I myself am a Certified Distressed Property Expert (C.D.P.E.).  However, I understand that Real Estate designation letters are about as common to people as all the letters that come after your doctor's name.  So rather than try to explain, I think this video gives great insight into what exactly a CDPE is.  It's long, (10 minutes) but considering that 1 of 7 homeowners today are behind on their mortgage, I don't think taking 10 minutes out of your day to educate yourself on the type of professional you should turn to for … (2 comments)

illinois: Peotone Short Sale - 01/08/10 07:59 AM
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illinois: Executive Home at a $30K Discount! - 01/08/10 07:57 AM
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illinois: Gated Community for 55 and older - 01/08/10 07:54 AM
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illinois: Hot New Short Sale in Tinley Park, IL - 01/07/10 12:51 PM
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illinois: The Crooked Loan Officer...Buyers BEWARE!!! - 01/07/10 12:46 PM
Since it's happened several times and again just recently, I felt it was an obligation to warn uninformed buyers...BEWARE OF THE CROOKED LOAN OFFICER!!! I'm amaized and dumbfounded at the same time that some loan officers continue to do the same misleading practice over and over again. Amaized because they continue to get away with it, and dumbfounded because I can't really see why they bother to do it in the first place. If they aren't getting paid until a transaction closes, why would a loan offericer ever tell an innocent home buyer that they can qualify for a mortgage that … (3 comments)

illinois: Avoid Foreclosure With New Short Sale Plan - 01/06/10 08:36 AM

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Tim Ireland (Midland States Bank)

Tim Ireland

Bourbonnais, IL

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Address: 1690 N State Rte 50, Bourbonnais, IL, 60914

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