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Eric Egeland, SFR, CDPE, e-PRO
RE/MAX SUBURBAN
1344 S. Milwaukee Ave, Libertyville, IL 60048
NorthShoreREO.com REO brokerage representing both banks & investors.
Phone: 847-337-7090
Email: eric.egeland@remax.net
June 2010 Vol 4 Issue 13
6 month National Foreclosure Trends
NOD
NTS
NFS
LIS
REO
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U.S Foreclosure Activity Decreases 3 Percent In May

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 322,920 properties in May, a 3 percent decrease from the previous month and an increase of less than 1 percent from May 2009, according to the RealtyTrac U.S. Foreclosure Market Report. One in every 400 U.S. housing units received a foreclosure filing during the month. “The numbers in May continued and confirmed the trends we noticed in April: overall foreclosure activity leveling off while lenders work through the backlog of distressed properties that have built up over the past 20 months,” said James J. Saccacio, chief executive officer of RealtyTrac. Complete Story

Best Places to Find a Foreclosure Bargain

By Joel Cone

“Buy low. Rent smart. Sell high.” It should be every real estate investor’s mantra in today’s market. It is for investor, author and educator Andy Heller. “ Today the investor should be buying property between 30 and 60 percent off.” Based on data from RealtyTrac, National Association of Realtors (NAR) and Bureau of Labor Statistics (BLS), all of the metro areas on the list below had an average discount of at least 35 percent on foreclosure purchases, positive year-over-year growth in median home prices and relatively low unemployment rates. Complete Story

Here are some of the most recent Investment opportunities in the area.

Pre-Foreclosure
Green Knolls Dr
Buffalo Grove,
IL 60089
  • Market Value
  • Default Amount
  • $315,260
  • N/A
  • Beds/Bath
  • Sq. FT
  • 3/3
  • 1,893
Property TypeAddressMarket ValueDefaultSq. Ft. 
Bank-Owned
Selwyn Ln,
Buffalo Grove, IL 60089
$184,000N/A0GET DETAILS
Auction
Auction Date: 10/19/10
Ranch View Ct,
Buffalo Grove, IL 60089
$173,453N/A0GET DETAILS
View more properties in Lake County

Why More FHA Foreclosures Loom Ahead

If you look at what’s happening in the world of short sales, foreclosures and REOs you’ve probably noticed that not too many distressed homes are available through the FHA, a situation which may be on the verge of change. One big reason we don’t see a huge number of FHA foreclosures today is because there are relatively few FHA mortgages to go wrong from the toxic loan years. The FHA program was shoved aside by loan alternatives which seemed a lot more attractive.
Complete Story

Foreclosure Trends : April, 2010
NationalIllinoisLake CTY
NODs42,88900
NTSs96,77000
NFSs40,8735,067425
LISs60,8739,049769
REOs92,4324,754337
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Foreclosure Terms
Notice of Default (NOD)
A non-judicial document filed by a trustee that starts the foreclosure process. More about NOD
Lis Penden (LIS)
Notification of pending lawsuit. A judicial document filed by an attorney or trustee that starts the foreclosure process. More about LIS
Auction / Notice of Trustee's Sale (NTS)
A filing by notice announcing a public auction. More about NTS
Notice (Judgment) of Foreclosure Sale (NFS)
An order signed by a judge directing to sell the property at public auction. More about NFS
Real Estate Owned (REO)
The final step in foreclosure process in which property ownership returns to lender. More about REOs
30 yr fixed mtg 4.69%15 yr fixed mtg 4.13%5/1 ARM 3.84%