Jack Lewitz's (evanstonilrealtor) Blog

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Real Estate Broker/Owner - Exit Strategy Realty



    Top 5 Reasons You Should Not Hide from Your Lender     1. The problem will not go away.     2. Your lender does not want to own your Home.     3. There is a solution to your problem other than Foreclosure     4. Your credit can be repaired.     5.You can be helped only if you want to be helpe...
    Illinois Bank Losses Cost FDIC a Pretty Penny. The Top 12 Illinois Bank Failures of 2009 report from Chicago Tribune: Bank Name Location Total Assets Estimate FDIC Insured Loss Insured Loss % of Banks Total Assets Founders Bank Worth $963,000 $189,000 20% Strategic Capital Champaign $547,000 ...
As we head closer to the " Dog Days of Summer" I am forwading the Stress Reduction Kit for Realtors. Have A Good Summer Vacation!!!  
Is your local MLS behind the eight(8) ball when it comes to Short Sales? Mine is and here is why!! According to my local MLS, all signed contract between buyer and seller  must be shown as “Under Contract”. Here is the problem. Short Sales are not your  typical sales between buyer and seller. Sh...
The New York Times announced that JP Morgan Chase has reported $2.7 billion dollar profit this second quarter even though we are in the midst of the worst economic downturn in decades. Meanwhile in a Chicago Crains article,  Realty track  was quoted reporting a 32 % increase in foreclosure filing...
  Deciding what to do next about your home is like putting the pieces to a puzzle together. Sometimes you don’t know where to start.  When doing a puzzle, I always start to look for end pieces and work my into the middle. Sometimes I get stuck and start all over. Sometimes I try to make two piec...
A friend of mine sent me this joke and I am reposting it as I received it:      A  New Orleans lawyer sought an FHA loan for a client who lost his house in Hurricane Katrina and wanted to rebuild. He was told the loan would be granted if he could prove satisfactory title to the parcel of property...
Every day I get asked the following question ” How is the Real Estate Market?” and then the follow up question is “When do you think it is going to get better?” These are the two most difficult questions to answer because I do not have a crystal ball and I am not able to predict when the market w...
    The second quarter statistics are showing that new Buyers are buying Foreclosures at a steady pace. Almost 4 out of 10 sales in the second quarter of 2009 have been foreclosures. The number of foreclosure continues to attract new home buyers. County # of Single Family Sales # of Short Sales #...
I am often asked by buyers and agents “How Long will it take to get an answer from the Bank” on a short sale? This is a difficult question because each bank is different. Currently, I am going for a new record for the longest Short Sale. On July 7, 2009 it will be 1 year and I still do not have a...

Jack Lewitz

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