Archive for Chicago Foreclosures

Zombie Foreclosures Continue to Prove a Difficult Enemy for Recovery

While you may be most familiar with zombies from shows like “The Walking Dead,” there’s a whole different kind of zombie lurking in the Chicago area. Abandoned “zombie” foreclosures are a rising issue in Chicago real estate. Defined as a property where a foreclosure has been filed but has not been resolved in more than [Read More]

February 10, 2014 | Author: Mitch Levinson | Comments: (0) | Categories: Chicago Real Estate News, Featured, Single Family Homes

Soulful Olympia Fields Mansion Once Owned by R Kelly On Market

If walls could talk, there would certainly be stories to tell, and if homes like the one just listed at 1 Maros Lane could speak, it would no doubt have some interesting stories to share. The mansion is a prime piece  of Chicago real estate in the Olympia Fields community was formerly owned by King [Read More]

September 11, 2013 | Author: Mitch Levinson | Comments: (0) | Categories: Chicago Real Estate News, Cook County, Featured, Locations, Single Family Homes

Chicago Foreclosure Rates Steadily Improving

Despite high attention at the national level for having so much foreclosure inventory, the comparison between bank-owned and non-foreclosure inventory is not quite as terrible as it may seem. In a new study by the Chicago Real Estate Notes blog, there is marked improvement in Chicago foreclosure inventory thanks to more initiatives from the government, [Read More]

May 09, 2013 | Author: Mitch Levinson | Comments: (0) | Categories: Chicago Real Estate News, Economy, Economy AOI, Featured

Illinois to Establish Foreclosure Fast Track

One out of every 392 Illinois homes has a foreclosure filing, and the state has a reputation for high level foreclosure levels. Each foreclosure in Illinois must be finalized through the courts, and not only does this lengthy process increase the foreclosure rate, but it is also a source of frustration for many homeowners. Now [Read More]

December 27, 2012 | Author: Jessica Thom | Comments: (0) | Categories: Chicago Real Estate News, Cook County, Economy, Locations, Single Family Homes

More Chicago Homeowners are Paying their Mortgages on Time

During the third quarter of 2012, the percentage of mortgage holders more than two months behind on their payments fell by 5.41 percent, according to TransUnion. This is the lowest rate since 2009, which is great news for the housing recovery. Though, the percentage is still higher than the 1 percent to 2 percent average [Read More]

Discounts on Foreclosed Homes are Decreasing

Foreclosed homes may no longer be a bargain. In September, the average discount on a foreclosed home was only 8 percent below market value, according to Zillow. The average discount in 2009 was 24 percent below markdown, making this change yet another sign that the Chicago real estate market is recovering. One of the causes [Read More]

November 18, 2012 | Author: Mitch Levinson | Comments: (0) | Categories: City of Chicago, Cook County, Economy, Locations, New Homes, Single Family Homes

Zillow To Add More Foreclosed Homes to Listings

Zillow will now display information on more than 1.5 million homes that are undergoing foreclosure, but not yet officially for sale. The change in listings comes as part of Zillow’s plan to become the most visited website for prospective home buyers. The foreclosure data that will now be available could previously only be accessed via [Read More]

October 31, 2012 | Author: Mitch Levinson | Comments: (0) | Categories: Chicago Real Estate News, Cook County, Economy, Locations, Mortgages, Single Family Homes
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