Read the latest news and statistics on property foreclosures and home buying from ILFLS

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The Importance of a Mortgage Pre-Approval (From a Realtor's Perspective)

The Importance of a Mortgage Pre-Approval (From a Realtor's Perspective)

By adminOn 02-23-2021
As a Realtor, there is great satisfaction in helping our buyer clients find a home. Purchasing a new home is a big financial commitment and the process can be nerve-wracking even for a non-first time homebuyer. That’s where we as agents step in to help alleviate the anxiety and execute a smooth home buying experience.
How Biden’s Election Will Affect Foreclosures and the Real Estate Market Overall

How Biden’s Election Will Affect Foreclosures and the Real Estate Market Overall

By adminOn 01-25-2021
With a new president in the White House, there will be changes to the real estate market. The most obvious change will be a delay in foreclosures, but there will also likely be other long-reaching effects on the real estate market as a whole.
Exploring the Pros and Cons of Buying REO Properties

Exploring the Pros and Cons of Buying REO Properties

By adminOn 12-01-2020
When it comes to investing in foreclosures and other properties, you can do so at several different stages of the foreclosure process. REO or real estate-owned properties are at the end of the foreclosure process. In these cases, there was no buyer during the auction, and now the bank owns the property.
Zombie Foreclosures

Zombie Foreclosures

By adminOn 11-26-2020
With a zombie apocalypse looming (Dawn of the Dead), foreclosures are one situation that you have to be careful about. If you are currently facing a foreclosure, it's best not to move out too soon as you may be "haunted" by a zombie foreclosure.
The Importance of Real Estate Education and Foreclosure Seminars

The Importance of Real Estate Education and Foreclosure Seminars

By adminOn 11-16-2020
One of the common misconceptions regarding real estate is that you do not need any formal education to be successful. In reality, the more you learn, the better prepared you will be to achieve your goals. Real estate investors want to learn more, so they can make better decisions as to which properties to invest in, what changes to make, and how to price them. Real estate agents want to learn more than the minimum requirements to pass their licensing exam. This way, they can better serve clients, resulting in more satisfied customers and better profits.
Pros and Cons of Buying Chicago Foreclosures

Pros and Cons of Buying Chicago Foreclosures

By adminOn 11-06-2020
Buying Chicago foreclosures is a popular strategy among savvy investors to help reduce their initial costs and increase profits. There are pros and cons of buying foreclosures compared with properties that are not foreclosed. Take a closer look at the most important factors on each side to confirm whether buying foreclosures in Chicago is right for you.
Rehabbing Your Investment Property: Spend vs. Save

Rehabbing Your Investment Property: Spend vs. Save

By adminOn 10-05-2020
After purchasing a foreclosure as an investment property, it may be necessary to make a few repairs or do a complete gut rehab. With any investment, it’s important to stick to a budget. While some things can be easily done yourself, it’s also very important to hire professionals to do certain tasks for both safety and economic reasons. Here are a few areas where you should spend and a few where you should save.
Investing in Foreclosures in Chicago Today and Tomorrow

Investing in Foreclosures in Chicago Today and Tomorrow

By adminOn 09-24-2020
Since the start of the pandemic precautions in the US and the closing of many businesses, a big concern for homeowners is job loss and defaulting on home loans. With issues such as foreclosure at the forefront of economic problems, it’s important to find facts about the rate of foreclosure at present and the potential changes we may see in the future.
COVID-19 And Home Renovations

COVID-19 And Home Renovations

By adminOn 09-14-2020
Renovations seem to go hand in hand with investment properties, whether the purchaser plans to update and resell the home immediately or create their own ideal living space. Either way, they may be wondering how COVID-19 is affecting the renovation business. The good news is that most contractors are continuing to work during this time because they provide an essential service.
What Chicago Luxury Homebuyers Want

What Chicago Luxury Homebuyers Want

By adminOn 08-25-2020
With both the demographics of luxury homebuyers and their wish lists evolving over the last few years, homeowners may wish to reevaluate their listings before bringing them to market. First of all, the demographics of the buyers themselves are changing—the millennial generation is beginning to increase their presence in the luxury home market as well as the LGBTQ community, with individuals controlling upwards of $1 trillion in annual buying power. This shift has lead to a move towards more eco-friendly homes, among other things buying wishes.