Real Estate Information Archive

It was just announced on national news today that IL currently ranks #6 in foreclosures.

Realty Trac just sent me my Monthly Newsletter stating that 2009 Foreclosure filings in IL ended the year with a staggering 131,132 foreclosures.

If you think you might qualify for a short sale and want to save your credit rating from a foreclosure, register here:  www.ShortSaleHelpNorthernIllinois.com - my team and I save homeowners from foreclosure 9 times out of 10!

According to today's Chicago Real Estate Daily email, Harris Bank has sued to collect about $14.3 million on an unpaid loan on Galt Airport in northwest suburban McHenry County, specifically Wonder Lake, IL.  A 60-year old airfield for private pilots, this airfield also became a venue for outdoor concerts.  In 2009, there was a 40th anniversary celebration to celebrate the 1969 Woodstock music festival in upstate New York.  For more detailed information, click here:  http://www.ChicagoRealEstateDaily.com/cgi-bin/news.pl?id=37056

Unfortunately, The Djurian home on Foster Avenue in Lake Forest, IL is in pre-foreclosure, with a $3.2 million dollar mortgage.  It is not currently listed for sale.

Posted by Carol Best | Coldwell Banker Residential Real Estate Brokerage

SELLERS:  Click here to discuss listing your home for Sale with Carol Best & Coldwell Banker

BUYERS:  Search all homes for sale in Chicago & Northern IL

BUY a DEAL:  Search Luxury Home Foreclosures

E-mail Carol | Carol's Website | Call or Text:  773-799-5939

Enjoy some of downtown Chicago's BEST hotel bars according to Michigan Avenue magazine - Click here to easily find these very cool spots to sip a beverage or people watch!

Rebar - NoMI - Vertigo - Potter's Lounge - C-View - Seasons Bar

Posted by Carol Best | Call or Text Carol @:  773-799-5939 | Carol@CarolBest.net   |   http://www.CarolBest.net

Bargains:  Find Luxury Home Foreclosures

Sellers:  What is for Sale & Sold in My Neighborhood

Help:  I am Falling Behind in My Mortgage Payments

How sad - another family run company is going out of business in the Chicago and suburban areas.  Plunkett Furniture, as reported in Crains Chicago Business is closing its doors.  Founded in 1931, it is the latest casualty due to the housing crash!

The store closings should be completed by early August of 2009, as reported by Crain's Chicago Business.

Posted by:  Carol Best | Coldwell Banker | Barrington, IL | www.CarolBest.net

BUYERS in IL:  www.FindNorthernIllinoisHomes.com

SELLERS in IL:  www.NorthernIllinoisHouseValues.com

As reported by Inman News on April 16, 2009:

Real estate foreclosure filings are up 9% for the first three months of 2009, according to Realty Trac.  The TOP 10 STATES are:

 State                     % Up or Down from Previous Quarter
California                                                                +35%
Florida                                                                     -12
Arizona                                                                   +  6
Nevada                                                                   +19
Illinois                                                                      +32
Michigan                                                                 -  2
Ohio                                                                         - 3
Georgia                                                                   +11
Texas                                                                       +15
Virginia                                                                    -11

According to Realty Trac, California, Florida, Arizona, Nevada and Illinois accounted for nearly 60% of properties that were subject to 1st quarter foreclosure-related real estate filings.

Posted by:  Carol Best - Hunter's Fairway | Coldwell Banker  Barrington, IL

BUYERS:  www.FindNorthernIllinoisHomes.com

SELLERS:  www.NorthernIllinoisHouseValues.com 

Here are the current stats, by city, as of March 26, 2009

Addison - 359

Barrington Hills, IL - 3

Bartlett - 297

Batavia - 134

Bloomingdale - 131

Burlington - 7

Carpentersville - 686

Elburn - 66

Elgin - 624

Elmhurst - 339

Geneva - 110

Gilberts - 84

Hampshire - 148

Hinkley - 25

Maple Park - 34

Montgomery - 424

Naperville - 655

North Aurora - 160

Roselle - 214

Schaumburg - 243

Shabbona - 65

St. Charles - 177

Streamwood - 558

Sugar Grove - 82

Sycamore - 111

Warrenville - 137

Wayne - 21

West Chicago - 284

Wheaton - 218

Winfield - 36

Posted by:  Carol Best | Coldwell Banker | Barrington, IL

www.CarolBest.net 

IL Buyers:  www.FindNorthernIllinoisHomes.com

IL Sellers:  www.NorthernIllinoisHouseValues.com

Here's the latest tally of real estate foreclosures, auctions, and pre-foreclosure statistics in Northern Illinois as of March 18, 2009:

236 - Arlington Heights

242 - Barringtons & Deer Park

181 - Buffalo Grove

183 - Cary

458 - Crystal Lake

155 - Deerfield

182 - Highland Park

    7 - Kenilworth

240 - Kildeer - Long Grove - Lake Zurich - Hawthorn Woods

  53 - Lake Bluff

110 - Lake Forest

137 - Libertyville

  53 - Lincolnshire

302 - Mt. Prospect

315 - Mundelein

174 - Park Ridge

181 - Wauconda

351 - Wheeling

Posted by:  Carol Best | Coldwell Banker in Barrington, IL |  www.CarolBest.net  

IL Buyers - Search our Entire MLS for Free @ http://www.FindNorthernIllinoisHomes.com 

Foreclosure Facts:

The foreclosure rate nationally in 2008 was just under (3%) three percent.

In the Great Depression it was just over (40%) forty-percent.

2008- Year-End Stats of Homes Sold

While we all know the market is challenging, existing home sales will be 5.02 million versus 5.652 million for 2007, a decrease of just over 11%, considerably less that the recent correction in the U.S. stock market, plus a realistic view that over 5 million people purchased a home despite the headlines in 2008. 

Posted by:  Carol Best | Coldwell Banker in Barrington, IL
Your Luxury Real Estate Expert & #1 Source to Buy & Sell Real Estate   www.CarolBest.net 

IL Buyers - Search our Entire MLS for Free @ http://www.FindNorthernIllinoisHomes.com 

10/31/08 INMAN NEWS REPORTS:

While the short sale & foreclosure real estate market is less than 3% of all homes owned, First American Core-Logic reported today that more than 7.5 million single-family homes are worth less than what is currently owed on their mortgages - and, another 2.1 million homes are getting close to being upside down.

The good news for us here in Illinois is that we are not at the top of the list!  Statistics for the top states are:  

Nevada - 48%
Michigan - 39%
Florida - 29%
Arizona - 29%
California - 27%
Georgia - 23%

How nice is it to be living in Illinois - a state NOT not on this list!

Posted by:  Carol Best | Coldwell Banker in Barrington, IL
Your #1 Choice to Buy or Sell Real Estate  www.CarolBest.net

IL Buyers - Search our Entire MLS for Free @ http://www.FindNorthernIllinoisHomes.com 

After watching several leading economists on television yesterday, here is a shocking recap of what they had to say:

1) with over 1 million excess homes on the market & over a year of excess inventory, they anticipate prices of homes to decline another 15%.  All real estate is local and their opinion was a general one - that could or could not happen in your area. 

     a)  Are you holding onto a depreciating asset? 

2) bank credit turns negative - the sharpest fall in over 30 YEARS!  What this means is that the banks have tightened credit so less money is available.  First time home buyers have been squeezed and are unable to buy - they are the 1st domino in the move-up chain.  If they don't buy, everyone else sits and waits.

3) we (USA) have dumped our financial problems abroad - Spain & Britain are in worse shape than we are.

4) it was announced today that Canada is tightening their credit, so that what is happening in the USA, will not happen in Canada

Posted by:  Carol Best

http://www.CarolBest.net

IL Buyers - Search our Entire MLS for Free @ http://www.FindNorthernIllinoisHomes.com