Getting Real

Posts in category "Foreclosures/ Short Sales"

Chicago Foreclosure Activity Declining Again

RealtyTrac released their April Foreclosure Market Report yesterday and it shows a continued decline in activity for the nation as a whole. Foreclosure activity in Chicago continues in a general decline for the third month in a row after trending upwards for 6 months. Declines were experienced across the board in default notices, bank repossessions... Read more »

By Gary Lucido,
May 18, 2012 at 7:09 am

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Chicago Housing Market: Further Signs Of Strengthening In April

Here’s what the Illinois Association of Realtors is going to tell you in about 2 weeks: April sales were really strong compared to last year, with median prices up and distressed sales down as a percent of the total sales. Of course, I don’t pay much attention to median prices because it is NOT an... Read more »

By Gary Lucido,
May 7, 2012 at 6:37 am

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RealtyTrac's March Foreclosure Report: Chicago Static

RealtyTrac’s March Foreclosure Report just came out and it shows fairly static foreclosure activity for Chicago in March vs. February. It’s hard to tell from the graph below but bank repossessions were actually down a bit, offset by increases in default notices and auctions. The foreclosure report focuses on the first quarter and at the... Read more »

By Gary Lucido,
April 12, 2012 at 9:16 am

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Maybe The Chicago Housing Market Isn't So Fragile After All

Yesterday I posted on the Treasury Department report on the Chicago housing market which characterized the market as “fragile”. However, that report seemed to focus on the hardest hit parts of this market and the most distressed homeowners. It makes sense, given their agenda. However, now that I’ve pulled the March transaction activity for Chicago... Read more »

By Gary Lucido,
April 9, 2012 at 6:30 am

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Treasury Department Spotlight On Chicago Housing Market

On Friday the Treasury Department came out with their March Housing Scorecard with a Spotlight on the Chicago Housing Market for 14 area counties in 3 states. The headline of the report is that the Chicago housing market is more challenged than the nation as a whole and, while it showing some signs of recovery... Read more »

By Gary Lucido,
April 8, 2012 at 11:17 am

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How Long Do Foreclosures Take In Illinois?

If you do a Google search for Illinois foreclosure timelines you will see that most legal experts seem to think it should take about 210 – 270 days. However, that’s in theory and the reality is far different. We all know of lots of anecdotes of people being able to live in their homes for... Read more »

By Gary Lucido,
March 26, 2012 at 7:53 am

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Why I Bought A Home Now After Renting For 12 Years

Realtor’s Home Purchase Ensures That Chicago Home Prices Will Crash On Friday, after renting for 12 years, my wife and I became homeowners for the 4th time. Obviously buying a home in Chicago was not a decision that we entered into lightly. When we first arrived in Chicago in 2000 we suffered from major sticker... Read more »

By Gary Lucido,
March 19, 2012 at 6:32 am

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Chicago Foreclosure Activity Down 18% In February

RealtyTrac just released their February foreclosure activity report and it shows Chicago foreclosure activity for February down 18% from January. The decline was manifest in all 3 foreclosure stages tracked by RealtyTrac: default, auctions, and bank repossessions. However, you have to look at this decline in the context of the historic variability of these numbers... Read more »

By Gary Lucido,
March 15, 2012 at 10:43 am

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Chicago Home Sale Activity Skyrockets In February

It will be another 2 weeks before the Illinois Association of Realtors releases February home sales for Chicago. When they do the headline increase will be around 12.5% (it may actually be as high as 17.4% but there seems to be another data discrepancy that I need to report) – not bad – and I’m... Read more »

By Gary Lucido,
March 7, 2012 at 8:08 am

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Chicago Foreclosure Activity Taking Off Again

RealtyTrac released their January Foreclosure Market Report the other day and on a national basis it shows that foreclosure activity is gradually increasing after a long period of hibernation. The report also shows that foreclosure activity in Florida, Illinois, Indiana and Pennsylvania increased on a year over year basis for the first time in a... Read more »

By Gary Lucido,
February 18, 2012 at 7:14 am

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