North Harbor Drive

Observations and insights into real estate happenings along N. Harbor Dr. in downtown Chicago

East Randolph Street, Chicago

Chicago Home Foreclosures Down Significantly

June 13th, 2013 · No Comments · Uncategorized

Crain’s Chicago reports that foreclosure activity in the Chicago area is tapering off.

“A total of 7,582 homes here had a foreclosure-related filing in May, plummeting 22.2 percent from April and 49.7 percent from a year earlier, according to Irvine, Calif.-based RealtyTrac Inc., an online marketplace for foreclosed properties.”

With reduced foreclosure inventory, competition is really getting fierce as more people are looking to buy and finding a great deal like could be done 3-4 years ago is a lot harder now. If you are looking to buy a foreclosure, it’s important to do the homework to ensure you are not bidding too high or too low. I have help dozens of clients buy foreclosures in the past several years and would be happy to represent you and help you navigate the process.

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