Latest Real Estate News and Stats on Foreclosures

Chicagoland Foreclosure Trends: 2006 - 2025

Published On 2025-05-20

Chicagoland foreclosures have experienced dramatic shifts from 2006-2025: soaring to 83,000+ during the 2008 housing crisis, gradually recovering by 2019, plummeting to historic lows during pandemic moratoriums, and now showing concerning acceleration in 2025. While current levels remain 86% below crisis peaks, data from ILFLS.com reveals Cook and Will counties may be signaling emerging market stress that demands attention.

Rising Mortgage Rates May Affect Asking Prices

Published On 2022-07-29

There are several signs that the market is adjusting to current economic conditions. Some sellers fear their homes will remain on the market longer than intended, which could drive the price down. The inventory of active listings in the U.S. increased by 8% over last year. Even though interest rates are increasing, sellers don’t want to risk a slow sale, so some have started lowering their asking prices. Now is a great time to buy if you have good financials and access to enough funds for the down payment.

How to Prevent Wrongful Foreclosure Actions?

Published On 2022-07-15

Many homeowners find themselves in this impossible predicament every year. Wrongful foreclosures take away your home through negligent or less than legal means. This can be as simple as mishandled or misfiled paperwork. New York is a judicial foreclosure state, meaning a foreclosure has to be adjudicated by the court system. Hire an experienced and professional foreclosure attorney will know how to file a wrongful foreclosure suit.

9 Tips To Help Sell Your Home To Millennials.

Published On 2022-01-25

Selling a home is a lot of work. Millennials are the largest group of potential clients in the market today and it’s important to understand what they want.

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. We will talk about how they work and give you a clearer idea of whether 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.

Latest Real Estate News and Statistics on Foreclosures from ILFLS

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