Chicago South Real Estate

Home Prices in Chicago South Real Estate for May 2016 – DetachedReal estate market data for Chicago South real estate provided by Millie Lumpkin of Exit Strategy Realty.Overall, the Chicago metropolitan area as a whole continues to experience a seller’s market. This is a trend that started in fal...

Are you thinking of buying a condo in Chicago? The condo market inChicago remains hot as companies continue to move from the suburbs to the city.  There is also the draw of all the amenities and things to do in the Loop area.  In addition, for those not wanting to deal with exterior maintenance, ...

Amidst all the excitement of searching for your new home, buyers should be aware of the costs attached to the home buying process.  These costs can be significant for some buyers so you want to take them into account when starting your home search. Down payment – The days of no down payment are l...

  As of August, Illinois has the dubious honor of the highest foreclosure rate in the country.  Compared with August 2011, default notices rose 18 percent, notices of scheduled foreclosure auctions rose 116 percent and bank repossessions increased 41 percent.  Overall, foreclosure activity in th...

AARP released a recent study showing the impact of the current housing crisis on seniors.  There are more seniors carrying mortgages into retirement than in the past and many of them are struggling with the threat of foreclosure. For other seniors, underwater mortgages are impacting the planning...

Short sales are estimated to be 25% of total sales nationwide.  Locally, short sales in the Chicago south suburbs are also approximately 25% of the existing inventory of homes for sale.  It’s a decent part of what’s available and local buyers appear to be more likely to consider them than in year...

  Short sales have earned the reputation of taking a long time to be approved. There have been a few announcements made this year which should help speed up short sales.  One thing to understand about all these announcements is that each applies to specific loans.  The Federal Housing Finance Age...

According to a recent report, Chicagoland experienced an overall increase in foreclosures during the first quarter of 2012. Foreclosures increased about 8% compared to the last quarter of 2011. [See complete article.] The other side of the distressed market are short sales. This includes those ho...

  In some markets, the majority of homes actually selling are foreclosures.  The following tips will keep the frustration level down when purchasing your foreclosure but they are also relevant for a traditional home purchase.  1.       Work with a buyer’s agent. The listing agent for foreclosure...

                               Many of the buyers I work with are first-time home buyers. Home affordability is high at the moment. I am working with a young man who wanted to see if he could purchase a home for what he was paying for rent. In this market, the answer of course was yes.  For many ...