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Illinois ranks third in seriously underwater mortgages

RealtyTrac

RealtyTrac today released its U.S. Home Equity & Underwater Report for the first quarter of 2014. Thirty percent of all Illinois homes with a mortgage were seriously underwater, i.e. had a combined loan amount secured by the property at least 25 percent higher than the property’s estimated market value. Illinois ranked third behind Nevada (34%) ...

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Posted by Joe Zekas on April 17, 2014
News & trendsMarket conditions

Illinois home prices and sales volume up in February

RealtyTrac

RealtyTrac released its February 2014 U.S. Residential and Foreclosure Sales Reportearlier today. Here are some of the metrics for Illinois: The number of homes sold in February rose 20.4% year-over-year. Illinois’ sales volume increase ranked 7th highest among the states. The median sales price increased 14% year-over-year to $152,500. Illinois had the 8th highest increase ...

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Posted by Joe Zekas on March 27, 2014
News & trendsMarket conditions

Chicago foreclosure rate plummets year-over-year

Tastee-Freez

RealtyTrac today released its U.S. Foreclosure Market Report for February 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 112,498 U.S. properties in February, a 10 percent decrease from January and down 27 percent from February 2013 to the lowest monthly total since December 2006 — a ...

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Posted by Joe Zekas on March 13, 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 ...

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Posted by Joe Zekas on February 27, 2014
News & trendsMarket conditions

Chicago drops out of top 10 metros in foreclosure rate

Thumbnail image for Chicago drops out of top 10 metros in foreclosure rate

Miami had the highest foreclosure rate in the nation in 2013, with 3.93% of its housing units in some stage of foreclosure, according to recently-released RealtyTrac data. Among Metropolitan Statistical Areas with a population of more than 200,000, seven other Florida metros were in the top 10 in 2013 foreclosure rates. Rounding out the top ...

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Posted by Joe Zekas on January 16, 2014
News & trendsMarket conditions

One-third of mortgaged Chicago-area homes are deeply in the red

Madison & Western

Here’s some bad news for home buyers who’ve been expecting rising home values to result in a broader selection of homes coming on the market. According to recently-released RealtyTrac data, 19% of all US homes that have a mortgage are “deeply underwater,” i.e. the amount of the mortgage exceeds the estimated market value of the ...

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Posted by Joe Zekas on January 9, 2014
News & trendsMarket conditions

Chicago sales volume up 31% year-over-year in October

Lincoln Park aerial view

According to just-released RealtyTrac data, Chicago’s October residential sales counts were at an annualized pace of 182,767, 31% higher than in October of 2012. The Chicago metro area had the highest annualized sales rate in the nation in October, edging out Miami (171,508) and substantially ahead of Los Angeles (148,945) and New York (148,090). Nearly ...

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Posted by Joe Zekas on November 26, 2013
News & trendsMarket conditions

Chicago foreclosure rate third-highest among large metros in October

West Garfield Park

Chicago had the third-highest foreclosure rate among the 20 largest metropolitan areas in October, according to data just released by RealtyTrac. One in every 427 homes in Chicago had a foreclosure filing during October. Chicago foreclosure activity fell for the 11th consecutive month on a year-over-year basis, but the metro area saw a 30 percent ...

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Posted by Joe Zekas on November 14, 2013
News & trendsMarket conditions

Institutional investors active in Chicago metro home market

RealtyTrac September graphic

According to data just released by RealtyTrac, institutional investors (defined as those purchasing 10 or more properties in the last 12 months) accounted for 13% of Chicago metro-area home sales in September. Cash purchases accounted for 49% of sales during the month. Short sales and sales of bank-owned properties were 20% and 14%, respectively. The ...

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Posted by Joe Zekas on October 24, 2013
News & trendsMarket conditions

National flips dip, Chicago’s rip

Winnetka streetscape

RealtyTrac released its Q3 2013 Home Flipping Report, which shows 32,993 single family home flips — where a home is purchased and subsequently sold again within six months — in the third quarter of 2013, down 35 percent from the second quarter and down 13 percent from the third quarter of 2012. According to the ...

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Posted by Joe Zekas on October 17, 2013
News & trendsMarket conditions

RealtyTrac reports sales, prices rose in Chicago metro area

Volo water tower

RealtyTrac today released its August 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes and condominiums and townhomes, sold at an estimated annualized pace of 5.6 million in August, up 2 percent from the 5.5 million pace in July and up 12 percent from the 5.0 million ...

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Posted by Joe Zekas on September 26, 2013
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 ...

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Posted by Joe Zekas on September 12, 2013
News & trendsMarket conditions

Chicago sales up 27%, median price up 10% year-over-year

RealtyTrac July graphic

RealtyTrac today released its July 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties sold at an estimated annualized pace of 5.5 million in July 2013, up 4 percent from the previous month and up 11 percent from a year ago — the biggest annual increase in sales volume so far ...

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Posted by Joe Zekas on August 29, 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 ...

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Posted by Joe Zekas on August 15, 2013
News & trendsMarket conditions

RealtyTrac: Illinois foreclosures average 817 days

East Garfield Park

RealtyTrac released its Midyear 2013 U.S. Foreclosure Market Report today. Some relevant excerpts: Florida posted the nation’s highest state foreclosure rate in the first half of the year: 1.74 percent of housing units with a foreclosure filing (one in every 58) during the six-month period — nearly three times the national average. A total of ...

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Posted by Joe Zekas on July 11, 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 ...

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Posted by Joe Zekas on June 13, 2013
News & trendsMarket conditions

Building permits up, foreclosures down nationally

Palmer Square

From a RealtyTrac news release: An exclusive RealtyTrac housing market analysis of building permit data recently released by the U.S. Department of HUD for the first quarter, comparing it to foreclosure starts for the same time period at the national, state and city level, found the following: Nationwide single family building permits increased 27 percent ...

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Posted by Joe Zekas on May 16, 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 ...

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Posted by Joe Zekas on February 28, 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 ...

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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 ...

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Posted by Joe Zekas on December 7, 2012