The Chicago 77

Not since the post-1987 stock market, have so many sellers been ?upside down? on their mortgages. Unlike this early 1990?s real estate market, when sellers commonly would bring money to closing to make up the difference, banks are now commonly willing to forgo part of what is owed to them to get the liability off […]

Earlier this month I highlighted some key points about short sales: What is a short sale? How does it compare to foreclosure? Are short sales on the rise and does this mean I should wait to buy? This week, I?m outlining the challenges faced when dealing with a short sale, what is being done?if anything?to […]

Here?s a question real estate agents are hearing lately??With so many short sales out there?does that mean the market is getting worse and should I be concerned about buying now verses later this year?? The answer, in a word, ?No.? Short sales certainly seem to be on the rise due to a variety of reasons: […]

The first thing I learned as a transactional real estate attorney was the only sign of success to the parties involved is a successful closing. For many years the fact that the buyer and seller both signed the contract was an assumption of success. I was always confident that I could resolve most issues with […]

Many people out there want to take advantage of this buyer’s market and scoop up an excellent deal. Many are very successful at this, actually buying real estate for pennies on the dollar. Others, have no idea or clue what to do. The first thing one needs to ascertain is? “Am I a short sale […]

The state of the current real estate market has made short sales more prevalent than ever before. When I started selling real estate five years ago, I rarely encountered a short sale. This past Sunday while out with buyers, two of the seven homes we previewed were short sales. Having just finalized a short sale […]