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Skokie Foreclosures| 9423 Leamington| Skokie Homes For Sale

Skokie Homes For Sale| 9423 Leamington 

9423 Leamington is the latest Skokie Foreclosure property to hit the Skokie Real Estate Market.  While not as prevelant as short sales, Skokie Foreclosures are visible all throughout Skokie. Currently there are more foreclosure condos than single family homes on the market.

The Skokie Foreclosure property at 9423 Leaming is a 3bed/2bath split level Skokie Home. It has a finished basement and a 2 car detached garage. It is listed at $224,900.

9423 Leaming
3bed/2bath
Split Level
Finished Basement
2 Car Garage
Taxes: $6400Listed at: $224,900 

To schedule an appointment for a private showing of the Skokie Foreclosure home at 9423 Leamington and for all other Skokie Real Estate inquiries, please contact me any time day or night! Let my Skokie Real Estate experience and education work for you!

Jim Kontos
President-Broker-Skokie Real Estate Expert-Skokie Short Sales Expert
RE/MAX 1st Class
RE/MAX Skokie
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.mychicagoshortsalesite.com 

there are several skokie realtors out there to chose from but only a handful of these skokie realtors can get you the results that I can get you!
 

 

4028 Howard| Skokie Foreclosures| Skokie Homes For Sale

Skokie Foreclosures is the topic of todays post.  The Skokie real estate market is full of distressed properties.. The Skokie Foreclosures and Short Sales rate has ranged anywhere from 30%-40% over the last two years unfortunately.  The Skokie Real Estate market sure has changed since when I opened up my RE/MAX 1st Class office in 2004.

4028 Howard is the latest addition to the Skokie Foreclosure market.

3bed/2bath
Split Level Style Home
Finished Basement
2 Car Detached Garage
No Master Bath
Taxes: $5900
Listed For Sale At $233,900

For all of your Skokie Short Sales and Skokie Foreclosures needs, please feel free to contact me any time, day or night! Let my Skokie Real Estate experience work for you!

Jim Kontos
President-Broker-Skokie Real Estate Expert- Skokie Foreclosure Expert
RE/MAX 1st Class
RE/MAX Skokie
Cell 630 327 9136
Office 847 674 9797
jkontos@remax.net
www.skokiehomes4sale.com
www.mychicagoshortsalesite.com

There are several Skokie Realtors out there to chose from, but only a handful of Skokie Realtors can get you the results that I can get you!

9321 Lowell| Skokie Foreclosures

SKOKIE FORECLOSURES| 9321 LOWELL

The amount of Skokie Foreclosures is no where near the amount of Skokie Short Sales currently available on the market. However, over the next year Skokie will see the number of Skokie Foreclosures rise as the number of current short sales that arent approved will increase and ultimately lead to foreclosure.

The Skokie home for sale located at 9321 Lowell is a REO property and has been recently listed.. This home has 4bed/4.1 bath and has a full finished basement. This is a huge home with over 4000 sq ft!

It is currently listed at $569,250 (i dont know why they felt the need to add the extra $250 to the listing price..i guess its a psychological thing). The taxes are a bit over $8000

Dealing with a REO property is much easier and takes alot less time to deal with than short sales (for the most part).. You can usually close on a REO/Foreclosure property in 30-60 days

To schedule an appointment to view this Skokie Foreclosure listing, please contact me by phone or email any time day or night! Not interested in this particular property? I would be more than happy to find you additional Skokie Foreclosures and short sales to view!

Jim Kontos
President--Broker--Skokie Real Estate Expert--Chicago Short Sales Expert
RE/MAX 1st Class
RE/MAX Skokie
Cell 630 327 9136
Office 847 674 9797
jpkontos@gmail.com
www.skokiehomes4sale.com 
www.mychicagoshortsalesite.com 

There are several Skokie Realtors out there to chose from, but only a handful of these Skokie Realtors can get you the results I can get you!

Short Sales January 2011| Skokie Short Sales

Skokie Short Sales are rampant throughout the Skokie Real Estate Market.. Whether we are talking about Skokie Homes or Skokie condos, the Skokie Short Sales rate is fairly disturbing. The free falling real estate market and the economy has been hard on the Skokie Real Estate market as well as the entire Northshore suburbs. 

I opened up my first office in Skokie in 2004, and in 2004, you couldnt find a Skokie Home for under $350,000 in Skokie, and the homes at this price usually needed work. Now we have Skokie Homes and Skokie Short Sales selling in the low 200k's and high 100k's.. It is like the wild wild west out there

SKOKIE SHORT SALES
SKOKIE FORECLOSURES DATA
(As Of January 2011)

Current number of Skokie Homes and Skokie Condos For Sale:   580

Current number Skokie Short Sales, Skokie Foreclosures For Sale:195

Current Skokie Short Sales and Skokie Foreclosures Rate: 34%

Almost 4 out of every 10 Skokie Homes and Condos are a Skokie Short Sales or Skokie Foreclosure!!!

This is bad news if you are looking to sell a Skokie Home, but great news if you are looking to buy a Skokie Home! 

Dont lose your Skokie Home to foreclosure! Let my Chicago Short Sales Team help you avoid foreclosure and all the pitfalls that a foreclosure brings! My Chicago Short Sales Team has the real estate and banking experience you need! Please feel free to contact us to schedule Confidential and Free consultation to see if a Short Sale will work for you! 

Jim Kontos
President--Broker--Skokie Real Estate Expert--Chicago Short Sales Expert-Skokie Realtor
RE/MAX 1st Class
RE/MAX Skokie
Cell 630 327 9136
Office 847 674 9797
jkontos@remax.net
www.mychicagoshortsalesite.com
www.skokiehomes4sale.com
www.skokierealestate4sale.com

There are several Skokie Realtors to chose from, however there are only a handful of Skokie Realtors that can get you the same results I can get you!

 

Short Sales vs Foreclosure|Skokie Short Sales

 SHORT SALE vs FORECLOSURE

In this Corner: FORECLOSURE

The foreclosure in Illinois is a Judicial Foreclosure . This means that the foreclosure must be approved by a Judge.  This means that if a person's home is foreclosed on, that they will actually have a judgment against them on their credit report.

A foreclosure will remain on a credit report in the public records section for 10 YEARS.  

The other issue with the foreclosure is that on loan application (for purchasing a new home), under Declarations, Section VIII it specifically asks a borrower if they have had a property foreclosed upon in the last 7 years.

The other issue with a foreclosure in Illinois is the Deficiency Judgment.  The lender has the right to ask the court for a money judgment against the previous home owner personally.

The home owner will most likely have 3 judgments, get docked at least 300 points on his or her credit report

.NO HOME PURCHASES FOR AT LEAST 7 YEARS!!!

-----------------------------------------------------------------------------------------

In This Corner: SHORT SALES

NOT A JUDGEMENT!!! BANKS DO NOT GENERALLY ASK FOR LOSSES BACK

If the home owner does go through a Short Sale and the bank does not request a money judgment, the homeowner's credit will be affected by as little as 100 points.

Purchasing another home can happen in as little as 24 months through Fannie Mae

Don't lose your home to foreclosure! If you or someone you know is dealing with financial hardship and is on the verge of losing their home, please contact me immediately!  Let my experienced Chicago short sale team help you avoid foreclosure.. Our help is only a phone call or email away! 

Whether you are looking to buy/sell Skokie Real Estate or interested in Skokie Short Sales or Skokie foreclosure property, please contact me.  Let my Skokie real estate and Skokie short sale experience, education and knowledge that seperates me from my competition work for you!

Jim Kontos
President/Broker
RE/MAX 1st Class..Skokie
Cell 630 327 9136
Office 847 674 9797
Office #2 312 643 2087
jkontos@remax.net

 

Disclaimer: *I am not a attorney and cannot give out any form of legal advice..This is a informative real estate blog written by a real estate broker experienced in short sales and foreclosures

Skokie Short Sales: What Exactly Is A Short Sale

The Skokie real estate market has changed significantly since I opened up my office in 2004.. Skokie Short Sales are at an unbelievably high level. In 2010, Skokie is experiencing a 30-35% short sale/foreclosure rate.. So basically every 3.5 out of 10 homes are a short sale or foreclosure.

SO........What Exactly Is A Short Sale?

A short sale is the sale of real estate in which the sale proceeds fall short of the balance that is owed on the propertys loan.  Basically, you are selling your home for less than what is left on the current loan balance.  Short sales arise when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a MODERATE LOSS (key words here), is better than pressuring the borrower. Both parties (Bank, Borrower) consent to the short sale process because it allows them to avoid foreclosure. Foreclosure involves hefty fees for the bank and MAJOR CREDIT RAMIFICATIONS for the Borrower.

One key thing to keep in mind is that a short sale in itself DOEST NOT always release the seller from the obligation to pay the remaining balance of the loan, known as the DEFICIENCY!!

  Are you behind in your mortgage payments?  I specialize in Short Sales and I have been helping homeowners avoid foreclosure for several years. Let me and my Chicago short sales team help you!  Contact us to see how doing a short sale on your property can help you through this difficult time. Help is only a phone call or email away!
Looking to buy or sell a Skokie home??  Please CALL or EMAIL ME for all of your Skokie real estate and Skokie short sale needs.. Let my experience, education and knowledge that sets me apart from my competition work for you!

Jim Kontos
President--Broker--Skokie Real Estate Expert--Chicago Short Sales Expert
RE/MAX 1st Class..Skokie
3947 Dempster..Skokie IL 60076
Office 847 674 9797
Cell 630 327 9136..
jkontos@remax.net
www.skokiehomes4sale.com