Real estate news & trends

Search posts

Bank-owned

News & trendsMarket conditions

Chicago’s foreclosure rate 4th highest among top 20 metro areas

RealtyTrac graphic

RealtyTrac just released its US Foreclosure Market Report for November 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 112,498 U.S. properties in November, a decrease of 9 percent from the previous month and down 1 percent from a year ago. November was the 50th consecutive month ...

Comment Read the full article →
Posted by Joe Zekas on December 11, 2014
News & trendsMarket conditions

June foreclosures at lowest levels since 2006

East Garfield Park

RealtyTrac released its Midyear 2014 U.S. Foreclosure Market Report today. The report reflects a 19% decrease in US foreclosure filings over the previous six months and a 23% decrease from the first six months of 2013. States with the highest foreclosure rates in the first half of 2014 were Florida (one in 74 housing units ...

Comment Read the full article →
Posted by Joe Zekas on July 17, 2014
News & trendsMarket conditions

Illinois foreclosure starts down, completions up year-over-year

West Garfield Park

According to data just released by RealtyTrac, Illinois had the sixth-highest rate of foreclosure filings in the nation, with one in every 706 Illinois homes in some stage of foreclosure. New foreclosure filings in April fell 38.63% year-over-year in Illinois and foreclosure completions soared by 54.61%. “The rise in bank repossessions in many states is ...

1 comment Read the full article →
Posted by Joe Zekas on May 15, 2014
News & trendsMarket conditions

Chicago-area sales volume, prices up sharply year-over-year

The Grove, Forest Park

Chicago-area sales volume increased 21% year-over-year in January 2014 and the median sales price increased 17%, to $175,000 according to RealtyTrac‘s just-released January 2014 Residential and Foreclosure Sales Report. Annualized sales volume in January was 170,394 homes. Institutional investors accounted for 7.6% of the sales. Nearly 46% of January sales were all cash. Short sales ...

Comment Read the full article →
Posted by Joe Zekas on February 27, 2014
News & trendsMarket conditions

Foreclosure filings continue downward trend

North Lawndale street scene

RealtyTrac just released its Foreclosure Market Report for January 2014. The report shows foreclosures rising 8% month over month nationally, but down 18% year-over-year in January. January marked the 40th consecutive month of year-over-year decline in the number of homes in foreclosure. The Chicago metro area tracked the national pattern, with foreclosures rising 2.9% month ...

Comment Read the full article →
Posted by Joe Zekas on February 13, 2014
News & trendsMarket conditions

Number of new foreclosure filings plummets

4000 block Wilcox

RealtyTrac today released its U.S. Foreclosure Market Report for August 2013. The report shows foreclosure filings — default notices, scheduled auctions and bank repossessions — decreased 2 percent from the previous month and were down 34 percent from August 2012 — the 35th consecutive month where foreclosure activity has decreased on an annual basis. The ...

1 comment Read the full article →
Posted by Joe Zekas on September 12, 2013
News & trendsMarket conditions

Chicago foreclosures drop sharply as US activity ticks up

West Garfield Park

RealtyTrac has just released its July 2013 U.S. Foreclosure Market Report. The report shows foreclosure filings – default notices, scheduled auctions and bank repossessions – were reported on 130,888 U.S. properties in July, an increase of 2 percent from the 78-month low in June but still down 32 percent from July 2012. The report also ...

1 comment Read the full article →
Posted by Joe Zekas on August 15, 2013
News & trendsMarket conditions

Foreclosures, shadow inventory in steep decline, Chicago still troubled

4500 block Wilcox

CoreLogic released its May National Foreclosure Report yesterday along with a supplement featuring quarterly shadow inventory data as of April 2013. Of the fifteen largest metro areas by population, Chicago ranked second behind New York in foreclosure inventory and first in the percentage of mortgage loans (8.7%) that are seriously delinquent. According to the CoreLogic ...

Comment Read the full article →
Posted by Joe Zekas on July 10, 2013
ChicagoNorthwest Side

Avondale Closeout still not closed out

Avondale Closeout

Back in October of 2010 Red Seal Homes held a grand opening event for its curiously named Avondale Closeout development. Plans called for 19 homes base-priced from the $560s to the $600s, with a first phase of 9 homes. Since that time, according to Redfin data, two homes have sold. A 5-bedroom, 3 ½ bath ...

Comment Read the full article →
Posted by Joe Zekas on June 18, 2013
News & trendsMarket conditions

Bank repossessions rise 44 percent in Illinois

Belmont & Western

The following arrived via email from RealtyTrac: RealtyTrac today released its U.S. Foreclosure Market Report™ for May 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 148,054 U.S. properties in May, an increase of 2 percent from the 75-month low in April but still down 28 percent ...

1 comment Read the full article →
Posted by Joe Zekas on June 13, 2013
News & trendsMarket conditions

Foreclosures less of a market factor nationally, still high in Illinois

Chicago Lawn board-ups

RealtyTrac today released its Q1 2013 U.S. Foreclosure & Short Sales Report, which shows that a total of 190,121 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the quarter, a decrease of 18 percent from the previous quarter and down 22 percent from the first quarter of 2012. From RealtyTrac’s ...

Comment Read the full article →
Posted by Joe Zekas on May 30, 2013
News & trendsMarket conditions

Shadow inventory down 28 percent from 2010 peak

CoreLogic graphic

CoreLogic released its January 2013 Shadow Inventory Report yesterday and issued the following news release: CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, reported today that the overall shadow inventory is down 28 percent from its peak in January 2010, when it reached 3 million homes. Current residential shadow inventory as ...

2 comments Read the full article →
Posted by Joe Zekas on March 27, 2013
News & trendsMarket conditions

Foreclosures, short sales were 43 percent of 2012 US sales

RealtyTrac graphic

RealtyTrac today released its Year-End and Q4 2012 U.S. Foreclosure and Short Sales Report, which shows a total of 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010. These foreclosure-related sales accounted for 21 percent ...

Comment Read the full article →
Posted by Joe Zekas on February 28, 2013
ChicagoNorthwest Side

Condo buyers need to do their homework

Springfield View video

Just over a year ago I visited the Springfield Vue condominium, a/k/a The Springview, at 1920 N Springfield, on the border of Logan Square and Hermosa. You can see the video from my visit, above. Every unit in the project has been in foreclosure at least once, and several have made multiple trips to Chancery ...

1 comment Read the full article →
Posted by Joe Zekas on January 22, 2013
News & trendsMarket conditions

RealtyTrac reports foreclosure inventory up 33% in Illinois year-over-year

Downtown Round Lake IL

RealtyTrac released its Year-End 2012 U.S. Foreclosure Market Report yesterday, and Illinois earned an unenviable spot in a number of its rankings. Illinois was in third place among the states in foreclosure inventory, i.e. the number of homes bank-owned or in some stage of foreclosure. Illinois’ foreclosure inventory amounted to 135,858 properties, comprising 9% of ...

Comment Read the full article →
Posted by Joe Zekas on January 18, 2013
News & trendsMarket conditions

Nearly 1 in every 4 Illinois sales foreclosure-related

East Garfield Park

RealtyTrac released its Q3 2012 Foreclosure & Short Sales Report yesterday. In, Q3 24% of Illinois sales, or nearly in every 4, were foreclosure-related. The report: … shows a total of 193,059 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the third quarter, an increase of 21 percent from the ...

Comment Read the full article →
Posted by Joe Zekas on December 7, 2012
News & trendsMarket conditions

CoreLogic – Illinois one of top states in foreclosures

Chicago Lawn

CoreLogic released its National Foreclosure Report for October yesterday. The report provides data on completed U.S. foreclosures and the overall foreclosure inventory. According to CoreLogic: There were 58,000 completed foreclosures in the U.S. in October 2012, down from 70,000 in October 2011 representing a year-over-year decrease of 17 percent. On a month-over-month basis, completed foreclosures ...

Comment Read the full article →
Posted by Joe Zekas on December 4, 2012
News & trendsMarket conditions

Illinois foreclosures up 19% year-over-year

West Garfield Park

RealtyTrac released its U.S. Foreclosure Market Report for October 2012 yesterday. The report shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 186,455 U.S. properties in October, an increase of 3 percent from September but still down 19 percent from October 2011. According to the report: One in every ...

Comment Read the full article →
Posted by Joe Zekas on November 16, 2012

September foreclosure totals lowest in over 5 years

Englewood streetscape

RealtyTrac today released its U.S. Foreclosure Market Report™ for September and the third quarter of 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 180,427 U.S. properties in September, a decrease of 7 percent from the previous month and down 16 percent from September 2011. September’s total ...

Comment Read the full article →
Posted by Joe Zekas on October 11, 2012
ChicagoSouth Side

Will massive drug bust boost Bronzeville condo values?

4343 S Michigan Chicago

Unit 4N at 4441 S Indiana just came on the market for $79,900, in the Grand Boulevard neighborhood of Bronzeville. It seems an attractive price for a condo that sold for $250,000 in May of 2006, and that’s touted by the real estate agent as able to satisfy the “pickiest buyer.” The property has recently ...

5 comments Read the full article →
Posted by Joe Zekas on July 2, 2012