Foreclosures, Short Sales and REOs

Illinois Still One of Top Foreclosure States

The national market for foreclosed homes remains strong. According to foreclosure data firm RealtyTrac, foreclosure activity increased 1 percent in August as compared to the month prior, climbing to just above 193,500 units nationwide. 1 in every 681 U.S. households received some form of foreclosure filing last month where a ”foreclosure filing” is any one of [...]

Are You Thinking of Buying a Short Sale?

There’s a lot of confusion around purchasing a short sale, so here’s some information that may help if you’re thinking of buying a short sale in St. Charles, Geneva, Batavia or the surrounding areas. A short sale is not the same as a normal sale and the approach to getting one closed is very different.  There [...]

Foreclosure Starts Rise For Second Straight Month

The number of U.S. homes receiving foreclosure notices topped one million through the first six months of 2012, according to RealtyTrac. There were 1.046 million foreclosure filings between January – June 2012, says the foreclosure-tracking firm in its Midyear 2012 Foreclosure Market Report. The tally represents a 2 percent increase from the immediate six months prior. [...]

Short Sales and Foreclosures: Batavia, Geneva, St. Charles May 15, 2012

Just about every client I work wants to know how short sales and foreclosures will affect them. If you’re a home buyer, you have heard that these can be a great deal but hard to buy. If you’re a seller, you need to understand how distressed property sales bring down the value of traditional sales [...]

What is a Short Sale vs a Foreclosure?

What’s the difference between a short sale and a foreclosure? Most people know that short sales, foreclosures, bank-owned properties and REOs are all some kind of a distressed property. A short sale is one where the homeowner owes more on the house than they can sell it for. A homeowner with a hardship situation (job [...]

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