I frequently get asked the difference between a short sale and a foreclosure / Real Estate Owned (REO) property. Buyers in today?s market who are cash heavy and have a flexible time frame may be in the best position to purchase one of these foreclosed properties.
Tag Archives: REO
As prospective buyers are sitting back, waiting, and speculating about when to take advantage of the bottom, it appears we have hit a plateau. One of the most effective ways for pricing to stabilize and then see appreciation is depleting inventory. Signs Home Prices in Chicago Are Stabilizing According to the Illinois Association of Realtors, [...]
22 June 2009 ? Signs are appearing that both inventory and pricing in the housing market are starting to level. Banks modifying existing mortgages are keeping people in their homes who thought they would have to sell. A large number of foreclosure units will not be hitting the open market as reported in Friday?s Chicago [...]
The City of Chicago Department of Community Development put on an informational meeting last Friday for residential developers to learn more about the city’s strategy to acquire and rehab vacant and foreclosed properties to get them back into productive use. Here is a little background: In July, Congress approved a new Housing and Urban Development [...]