Latest Real Estate News and Statistics on Foreclosures from ILFLS

1 - 10 articles out of 190

The Truth About IBuyers, Foreclosure Investing, And Flipping In Chicago.

Published On 2022-01-15
We all know that there are many ways to make money in the real estate market. One of the most popular and talked about methods is foreclosures. But, with so many horror stories out there, it’s hard to tell what the truth is and who to trust. In this article we will be uncovering some truths about IBuyers, foreclosure investing, and flipping houses in Chicago. We’ll talk about how they work and give you a clearer idea of whether or not they might be right for you.

Woodlawn, a Hidden Gem: The New Record Home Price

Published On 2022-01-15
Home on Greenwood Avenue sold for $769,500 on Jan. 10th, setting a new price record for the neighbourhood with rising prices. In phase two of their Inspire Woodlawn project, the house is one of five contemporary homes built by KMW communities. The first phase was four houses that set new records when they went into sale last year at over $600k each.

Monthly Chicago Foreclosures Activity: The Latest Trends and Market Data.

Published On 2022-01-09
The housing market in the Chicago area has been on the rise again after it's dip in 2016. Cook County has finally seen a marked increase in active listings, with 12.92% more homes for sale than last month. As of December 1, there were 265 new foreclosure cases filed in Great Chicago area. This amounted to 10.17% less than filed in November 2021. For comparison, the rest of Grand Chicagoland suburban area had 76 new foreclosures with 1.30% less foreclosures filed this month than last month.

Following The End Of Illinois Moratorium On Foreclosures On October 3rd: What’s Next?

Published On 2021-10-31
After President Joe Biden and Democrats in Congress worked feverishly but failed to agree on a long-term solution to protect millions of Americans from being evicted during a COVID-19 influx, the nationwide eviction moratorium was slated to expire Saturday, July the 31st.

Home-Buying Advice for the Self-Employed

Published On 2021-09-15
Buying a home when you’re self-employed — that is to say, you own at least 25% of your own business. Regardless of where and what kind of home you’re looking to buy, if you need to take out a loan (the way most of us do), you’ll have to be more diligent than a typical home buyer.

Chicago Landlords Face The Highest Taxes Among 53 U.S. Cities

Published On 2021-08-12
Aurora homeowners face the highest tax rate out of 53 U.S. cities according to a recent study while Chicago's commercial property tax is the second-highest rate.

$50 million foreclosure suit hangs over LaSalle Street offices

Published On 2021-07-24
A receiver has been appointed by the Cook County Circuit Court judge to manage a five-story office building above the JW Marriott Chicago hotel. The rightful owner of the property, Chicago real estate veteran Michael Reschke, is currently facing a foreclosure action of $50 million more or less.

Chicago's Housing Market In 2021 Is On Fire: Here's Why

Published On 2021-06-17
Since the beginning of 2021, housing market experts foresee a year of high demand and rising property prices. Despite last spring's drop in housing market activity, home buying and selling swiftly recovered with thousands of buyers still eager to move and settle in a new home even if the lack of availability in many regions of the country has contributed to the soaring home prices.

How Do I Know What Type of Mortgage Is Best for Me?

Published On 2021-05-20
For those who are financially ready to buy a house, finding the right home and mortgage to make that readiness a reality can be difficult. Once you have your ideal property selected, it is important to carefully consider what type of loan is the best for you. Here are some key points to consider.

Buying a House in 2021? It Can Be an Emotional Experience

Published On 2021-05-10
Buying a home will always be an emotional experience thanks to the fact that it is a life-changing event. This is especially true in 2021, as we have just gone through an emotion-filled and highly unusual year.