Apr
18

Chicagoland Cited as One of the 10 Best Places to Buy a Foreclosure

April 18, 2013

Chicago new homes shine among foreclosuresWhile foreclosures are on the decline as fewer homeowners are defaulting on their mortgages and homebuyers looking for deals are competing with investors ready to pay all cash, there are still some great deals to be found across the country.

The Real Estate section of the

Equifax Finance Blog has a new article about foreclosures, and cites Chicago as one of the best places to buy with 36 months of inventory available and an average foreclosure discount of 46 percent. This is in addition to great government initiatives like the Building Blocks program to grant extra incentives for low- to moderate-income households.

The article shares more great news, like that experts believe within two or three years we’ll be back to a more normal amount of foreclosures, similar to the way things were before housing crash in 2006. There always have been foreclosures to be found, just nothing like the 4.2 million foreclosures that have come onto the market since 2008. As more foreclosures are purchased and rotated to more stable home ownership positions, we can look forward to a healthier overall economy.

 

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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