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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 ...
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Posted by Joe Zekas on June 18, 2013
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 ...
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Posted by Joe Zekas on June 13, 2013
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 ...
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Posted by Joe Zekas on May 30, 2013
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 ...
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Posted by Joe Zekas on March 27, 2013
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 ...
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Posted by Joe Zekas on February 28, 2013
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 ...
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Posted by Joe Zekas on January 22, 2013
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 ...
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Posted by Joe Zekas on January 18, 2013
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 ...
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Posted by Joe Zekas on December 7, 2012
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 ...
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Posted by Joe Zekas on December 4, 2012
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 ...
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Posted by Joe Zekas on November 16, 2012
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 ...
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Posted by Joe Zekas on October 11, 2012
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 ...
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Posted by Joe Zekas on July 2, 2012
Five years ago we reported that a development called The Terrace was offering 24 3-bedroom, 2 ½ bath condos in four 6-flats at 3917 – 3935 N Kedzie Ave in Irving Park. One building was said to be complete, and the others “in various stages of construction.” Six weeks later we wrote that “approximately 1,800 ...
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Posted by Joe Zekas on May 21, 2012
CoreLogic has just released its MarketPulse report for May (pdf), based on March 2012 data. The money quote: Nationally, the housing market is in the process of transitioning to more stability in sales and home prices. Inventory levels are reasonable again, and even tight in some markets. The share of REO sales is declining due ...
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Posted by Joe Zekas on May 10, 2012
RealtyTrac just released its Q1 2012 Metropolitan Foreclosure Market Report, and it doesn’t contain good news for the Chicago-Naperville-Joliet metro area real estate market. Chicago ranked only 17th among the Top 20 metro areas in the US in overall foreclosure activity, defined as the percentage of homes in foreclosure (1 of every 107), but led ...
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Posted by Joe Zekas on April 26, 2012
Crain’s Chicago Real Estate Daily recently reported on a developer who’s in foreclosure – for the second time – on the 70-unit Skokie Gardens Condominiums, 8828 Niles Center Rd in Skokie. The developer’s not alone in Chancery Court – a number of the original buyers in the development have also seen their units go through ...
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Posted by Joe Zekas on March 13, 2012
Five years ago, when we first checked on sales at Bridgeport Condominiums, 3450 S Halsted St, we were informed that the project was “about 50% sold” and the remaining 1- and 2-bedroom units were priced from the $240s. Two months later Chicago Magazine’s Dennis Rodkin touted the development “as a clear sign that this once ...
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Posted by Joe Zekas on March 1, 2012
Five years ago today we were writing about a 3-bedroom raised ranch with a back yard hot tub pavilion in Clearing. The recently remodeled home, at 6504 W 60th St, was listed for sale at the time in the $350s. The hot tub apparently wasn’t enough of a draw, and the home went into foreclosure ...
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Posted by Joe Zekas on February 15, 2012
When Yo visited Morgan Street Lofts in Bridgeport, five years ago today, we were told that only 8 units remained available for sale. Five months later the developer, Anthony DeGrazia, was telling us that the 60-unit project was 70% sold. Do the math. In December of 2008 Cole Taylor Bank filed a foreclosure proceeding involving ...
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Posted by Joe Zekas on February 13, 2012
The real estate crash that began late in 1979 hit Edgewater the hardest among Chicago’s north lakefront neighborhoods. Edgewater condos sold for an average of $76,000 during 1979 and for only $56,750 during the first six months of 1992. Adjusted for inflation the average Edgewater condo lost 60% of its value over that period. This ...
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Posted by Joe Zekas on January 11, 2012
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