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July 2009 - Posts
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For buyers who can't afford a mortgage and sellers who are motivated, a lease-purchase agreement can be attractive option. Read more > Read More...
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Report from Radar Logic show that from April to May, home prices rose an average of 2.1 percent, suggesting recovery could be at hand. Read more > Read More...
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The Federal Housing Administration guaranteed 186,000 mortgages in June, a record number in its 75-year history. Read more > Read More...
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June sales were up 3.6 percent, the third-straight monthly increase, which eased inventory levels. Still, new appraisal standards remain an impediment in some transactions. Read more > Read More...
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With deep pockets and the ability to pay with cash, investors are bidding up the price of foreclosures as much as thousands over the initial asking price. Read more > Read More...
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It's a great time to buy a home, but the opportunity may be slipping away if buyers don't act fast. Read more > Read More...
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1st Ward Alderman Manuel Flores and Chicago 2016 invite you to a Community Forum to discuss details regarding Chicago's bid for the 2016 Olympic and Paralympic games. Lori Healey, President of Chicago 2016, will also speak at the forum. When: Saturday, Read More...
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Check out room staging makeovers on NAR’s blog, “Styled, Staged and Sold.” Stagers talk about the steps they took to transform a room and why. Read More...
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A judge has ruled a tie in the Rock Island mayoral contest between REALTOR® David Levin and Dennis Pauley, with both men receiving 3,047 votes after a recount. The winner will be chosen by lot at a hearing July 15, when the Rock Island County Clerk Read More...
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The New York Times reports that Treasury officials are going to ask mortgage servicers to improve and increase the number of loan modifications so that fewer at-risk homeowners end up in foreclosure. Read More...
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The recent article, “ The Second City is Becoming Second-Home City ,” points to Chicago’s affordable condo market and urban offerings as reasons why the Windy City is gaining appeal as a location for a second home or a vacation home Read More...
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Freddie Mac details the documents delinquent homeowners need to have on hand when contacting a lender for a loan modification. Among the key documents: most recent monthly mortgage statement, pay stubs, most recent tax return, paperwork regarding other Read More...
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The recent Chicago Tribune article, “Think there's lots of time for tax credit? Think again,” highlights the need for potential first-time buyers to move quickly if they want to take advantage of the up to $8,000 tax credit that expires Read More...
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Though interest rates declined, loan demand fell last week because of economic concerns and problems with appraisals coming in too low. Read more > Read More...
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Several state and local programs are in the works that aim to sell foreclosed properties in hard-hit neighborhoods. Read more > Read More...
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Several local and state associations have used nearly $700,000 in grants from NAR to help prevent foreclosures in their areas. Read more > Read More...
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Some housing experts say the next logical step for helping home owners with negative equity is loan forgiveness. Read more > Read More...
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Access to good information and reasonable living costs are among the most important criteria for business-builders. Read more > Read More...
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Urban governments make plans to subsidize failed high-end developments and convert them into affordable housing. Read more > Read More...
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Sponsors say an 18-month moratorium would allow time to work out problems with the Home Valuation Code of Conduct. Read more > Read More...
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A study finds that home owners begin to walk away from a mortgage after price declines of 15 percent or more, even if they can afford to pay. Read more > Read More...
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This forward-looking indicator has been up for four consecutive months, according to NAR. Read more > Read More...
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Home sellers can improve their odds for a timely sale if they take a few steps known to attract buyers. Read more > Read More...
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West Fest Saturday & Sunday July 11th & 12th, 2009 12-10pm on Chicago Avenue btw Damen Ave. & Wood St. www.westfestchicago.com WEST FEST TO PUT SPOTLIGHT ON WEST TOWN, JULY 11TH AND 12TH LOCAL H & Red Red Meat Headline Weekend Full of Read More...
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(FROM ALDERMAN MANNY FLORES) At today's City Council Meeting, I, along with several other City Council members, introduced legislation to reaffirm the City's $500,000,000 cap on a financial guarantee for the 2016 Olympic Games. This ordinance Read More...
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On June 12, 2009, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2009-19 , which outlines changes aimed at streamlining the approval process for FHA financing for condominium projects. In this Mortgagee Letter, HUD Read More...
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