Jun
06

Chicago Places in Equifax Top Foreclosure Markets List

June 06, 2013

Investors seek foreclosure marketsForeclosure investors are moving away from the traditional “hot spot” areas of the southwest as markets in California, Nevada and Arizona have soaked up much of their distressed inventory. And with the economy turning around, investors are now seeking areas where there are new great deals to be found, thanks to slow-moving judicial systems. The Equifax experts explain it all in the new article, “

Top 10 Cities for Buying Foreclosures.”

Chicago was part of a top list from Equifax and CoreLogic that included Orlando, New York, Atlanta, Seattle and Washington, DC as top foreclosure markets. Equifax focused on areas that are not traditionally considered national leaders in foreclosures but that investors may want to focus on for high discounts, a wealth of inventory and a steady stream of backlogs that will ensure that the deals keep coming for both investors and homebuyers seeking fixer-uppers.

Chicago placed high on the list for its distressed sale share of 35.3 percent (which is down slightly from the year before) and the 16.8 months of available inventory there. While the current initiatives to encourage homebuyers to consider foreclosures are helping to turn the tide, the fact that 9.7 percent of homeowners are 90 days or more delinquent on their mortgages means that there could be deals for a while in the Windy City, even as growth is being spurred toward new construction.

The Equifax Finance Blog has more personal finance tips, from topics like real estate to the best way to perform your

credit checks. Explore the articles today to improve your money management and finance know-how.

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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