Short Sale Chicago

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Short Sales Will Increase Dramatically in 2012

by The KCM Crew on May 7, 2012 · 2 comments

We believe that short sales will be a major part of the real estate market in 2012. That is why we have dedicated this entire week to posts exclusively on this subject. We hope that by the end of the week you have a better handle on the need for short sales and a better understanding of the process. – the KCM Crew
It seems that the banks have finally realized that a short sale is a better option than foreclosure for them, the homeowner and the neighborhood. It is for this reason we believe that 2012 will come to be known as the year of the short sale. CNN Money reported on this exact point:

“We believe 2012 could be a record year for short sales,” said Daren Blomquist, vice president at RealtyTrac.

Banks are showing signs of being more open and willing to approve the deals — even if it means accepting less money. The average sales price for a short sale was $174,120 in January, down 4% from December and 10% year-over-year.

Market Watch also addressed the short sale situation recently:

Fitch expects the increase in short sales to continue because of the potential benefits afforded to both lenders and borrowers. Some borrowers may prefer short sales because, though they cannot stay in the property, they often walk away with cash incentives from lenders and healthier credit reports unmarred by foreclosure. For lenders, short sales provide a more efficient and cheaper alternative to the increasingly lengthy and costly foreclosure process. Read more…

If you are interested in selling your home, including selling for less than loan amount (short sale), please contact me:

Barbara Pedersen, Realtor®, Broker
CDPE/Certified Distressed Property Expert, Short Sales
Traditional Sales and Purchases
covering the City of Chicago and Chicago’s South and Southwest Suburbs.
or call at: 708-539-9900
Classic Realty Group
Orland Park, Il

or e-mail:

May 7, 2012 Posted by | Buying, Hickoty Hills, Il, Miscellaneous, Orland Park, Il, Palos Hills, Il, Selling, Short Sales | , , , , , , , , , , , | Leave a comment


Orland Park, Il Market Report
January – September 2010

Property Type: Single Family Home

Under Contract

Active Single Family –  276
Average Market Time – 222 days
Average Price – $522,639
Highest Price – $4,500,000
Lowest Price – $125,900

Under Contract Single Family – 37
Average Market Time – 259 days
Average Price – $422,218
Highest Price – $1,496,000
Lowest Price – $100,00

Sold Single Family – 2010
Average Market Time – 159 days
Average Price – $355,242
Highest Price– $1,900,000
Lowest Price – $100,000

if you need more information
or if you are interested in selling your house (also as a short sale)
please, feel free to contact me via phone or e-mail:

Barbara Pedersen
Classic Realty Group

October 10, 2010 Posted by | Buying, Homes for Sale, Market Statistics, Orland Park, Il, Selling | , , , | Leave a comment


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