Chicago Foreclosure Update for 12-14-2012

December 15, 2012 by Goran Utvic Chicago Real Estate Broker Leave a Comment

Check out this week’s Chicago foreclosure update…great deals on foreclosed homes in Chicago neighborhoods like Portage Park, Dunning and northwest suburbs Morton Grove and Des Plaines.

Belmont Cragin foreclosure listed for $124,900 with 4 bedrooms and 2 baths just under 1,500sf.

Chicago 3 flat foreclosure under $110,000. This building has two 3 bedroom apartments and one 2 bedroom and 3.5 total bathrooms, the building total just about 3,500sf.

1,200sf brick Georgian in Dunning this is a larger Georgian listed for $149,900. It is a Fannie Mae HomePath foreclosure property.

3 bedroom brick ranch foreclosure in Morton Grove listed at $174,900. This 1,200sf home is eligible for HomePath Renovation financing.

Get this week’s Chicago Foreclosure Update at http://ilbankhomes.com

Watch Chicago Foreclosure Update on YouTube

Goran Utvic - Real Estate Broker/Construction Consultant, My Internet Marketing Strategies and Negotiating Expertise = Best Price For You When Buying or Selling a Home!

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Check Out Some of My Content Below
Chicago 2 Flat Conversion From Start to Finish
Chicago 2 Flats What To Look For When Viewing Before You Buy
Digging Basement of a Chicago 2 Flat
Why Buying a House With an Unfinished Basement is Better
Chicago 2 Flat Renovation - What is a Scope of Work and How to Get One

Chicago Foreclosures Update 9-21-2012

September 21, 2012 by Goran Utvic Chicago Real Estate Broker Leave a Comment

In this week’s list there are 48 foreclosed homes in Chicago‘s northwest side and surrounding suburban area like this Harwood Heights property listed for $108,000..it’s a 2 bedroom 1 bath home with a 2 car garage located near Wright College.

Rehab this Chicago bungalow foreclosure on the 5200 block of Barry Ave in Chicago’s Portage Park neighborhood…it’s a huge 4 bedroom 4 bath bungalow. Rehabbed Chicago bungalows in this neighborhood are selling for over $260,000.

Albany Park foreclosure property listed for $144,900. This one is a Fannie Mae HomePath property…you can move in for as little as $4,200. It’s a 2 story 3 bedroom 2 bath home just under 1,600 square foot.

Norwood Park brick ranch foreclosure built in 1989 with 3 bed and 3 bath over 1,400 square feet and 8′ ceiling height in the basement. List price $234,900. For about $7,000 down you can get into this awesome Norwood Park home.

You can go to http://ILbankhomes.com to get a copy of this week’s Chicago Foreclosure Update.

Watch on YouTube

Foreclosures in Chicago Rehabbed and Sold For a Profit

June 28, 2011 by Goran Utvic Chicago Real Estate Broker Leave a Comment

Foreclosures in Chicago Rehabbed and Sold For a Profit

Link to form mentioned in video above–> http://goo.gl/dDSPkI

or call Goran Utvic at 312-217-4354

Is it possible to make money flipping foreclosures in this market? Most people think the answer is no…well I say YES!…it is being done in this market and smart investors are making big money buying foreclosures in the Chicago area, rehabbing them and selling for massive profits! I wrote a previous post:

Can you still flip Northwest Chicago real estate in this market and make a profit?

Since then I have done more research and I wanted to post what I have found.

The first foreclosure property…5113 W Melrose Ave , Chicago, Illinois 60641… a 3 bedroom 1 bath Chicago Bungalow, sold on 11/22/2010 for $90,000 the foreclosure was rehabbed completely to a 5 bedroom 2 bath home and sold on 5/27/2011 for $239,900 – market time 2 days! …see for yourself here => Chicago Foreclosures Before and After Sheet

Foreclosure number two…5814 W School St, Chicago, IL 60634 a 4 bedroom 1.5 bath brick Chicago Bungalow was bought for $110,000 on 1/3/2011…the home was rehabbed to a 3 bedroom 2 bath and sold on 6/3/2011 for $230,000 market time 47 days! …see for yourself => Chicago Foreclosures Before and After Sheet

Foreclosure three…a 4 bedroom 2.5 bath brick Chicago Bungalow at 3616 N Luna Ave, Chicago, IL 60641 purchased for $120,750 on 12/22/2010 completely rehabbed to a 4 bedroom 3 bath and sold for $270,000 on 6/17/2011 – market time 19 days! …see for yourself => Chicago Foreclosures Before and After Sheet

Foreclosure number four…4838 W Cornelia St, Chicago, IL 60641 was a 2 bedroom 2 bath that was purchased for $130,000 rehabbed to a 3 bedroom 3 bath and sold for $310,000 on 5/24/2011 – market time 21 days!
You are probably wondering how extensive the rehabs were…well I can tell you the work that was done was very good and higher end. …see for yourself =>Chicago Foreclosures Before and After Sheet

The kitchens were opened up with tall cabinets stainless steel appliances and granite counters. The bathrooms have quality tiles like travertine and glass mosaics, cherry wood vanities and cast iron tubs. The walls, floors, doors and trim were all refinished. The basements were completely finished with ceramic tile floors and drywall.

In other words, none of the examples I have shown you are handyman type repairs, they were rehabbed by professionals. The short market time is an indicator of the kind of quality work that was done…this is the key…the more the prospective buyer is WOWed when viewing the property the first time…the quicker the rehabbed foreclosure sells! and the quicker you sell the more the profit.

I don’t know about you but, if you are as excited as I am with the possibilities, you can start here with your Chicago Foreclosures search!

View my Chicago Foreclosure Case Study Video Here!

Can you still flip Northwest Chicago real estate in this market and make a profit?

May 28, 2011 by Goran Utvic Chicago Real Estate Broker 7 Comments

Can you still flip Northwest Chicago real estate in this market and make a profit?

Every time I come across a good deal and contact Investors I get a lot of hesitation…unlike the late 90’s and early 2000’s when everybody wanted a piece of the action. Well believe it or not, Investors are flipping properties now in this market and making more profits than they ever have!…because a lot of people are hesitant and do not think there is money to be made. That’s exactly what the investors that flipped the properties listed below want you to keep on thinking!

You don’t have to take my word for it, look up the public records for yourself…or email me I’ll send you the MLS Sheets

5210 W Grace St. Chicago, IL 60641 Bought for $118,150 on 11/05/2010 as a foreclosure…property was remodeled and flipped on 2/28/2011 Sold for $242,000 under contract in 9 days!

5758 W Dakin St , Chicago, Illinois 60634 Bought for $125,000 (foreclosure) on 12/15/2010 flipped and Sold 4/26/2011 for $252,000 under contract in 8 days!

6325 W Melrose St, Chicago, Illinois 60634 Bought for $105,000 (foreclosure) on 12/30/2010 flipped and Sold 5/11/2011 for $230,000 under contract in 4 days!

One thing these Investors had in common is that they worked with a Realtor that gave them access to foreclosure listings. You can get setup to receive REO foreclosures property listings here

If you email me I’ll send you the MLS sheets so you can see for yourself with before and after pictures that show what work was done to these foreclosure properties.

Lowest Price Foreclosure Deal Sold in Portage Park Chicago – May 9th 2011

May 19, 2011 by Goran Utvic Chicago Real Estate Broker 3 Comments

Lowest Price Foreclosure Deal Sold in Portage Park Chicago – May 9th 2011

For Sale Stamp

If you were wondering if there really are foreclosure deals out there the answer is Yes! This home sold in Chicago‘s Portage Park neighborhood on May 9th 2011 for $77,000. It’s a 1,056sf home with 3 bedrooms and 1.5 baths. Full listing details for this Portage Park foreclosure deal here.

Buying a foreclosure could save you thousands of dollars on your home purchase. You can read more tips on …how to find the right Northwest Chicago foreclosure

Foreclosure deals are out there, you just need to have the right tools and resources to better your chances of getting the foreclosure deal that’s right for you.

If you have been thinking about buying a foreclosure property in Northwest Chicago or suburbs you need to get this list NOW! clock ticking wording now is the time Currently there are 13 new foreclosures on the market in Portage Park ranging from $39,900 – $210,000.

Get Your List NOW BY Clicking The FREE FORECLOSURE ALERTS Link Below.

What do you need to search Northwest Chicago Foreclosures

May 10, 2011 by Goran Utvic Chicago Real Estate Broker 3 Comments

What do you need to search Northwest Chicago Foreclosures

Whenever you are going to view foreclosure properties you want to make sure that you have the right tools and resources with you at all times!

Foreclosure homes are vacant and should be secured but that doesn’t mean that something or someone has not unsecured the property since the banks rep last checked on the property.

First you want to view foreclosure with a licensed Realtor…never alone. Always, have your cell phone…you want to make sure that you let someone know when you are going to view foreclosure properties and be specific with the place/times and when you should be back…this way if there is an emergency someone will know how you can be found.

I like to carry a flash light because many times bank homes are winterized (water has been turned off to prevent freezing) and the electricity has been shut off. I’ll also wear what I call my lawn mowing clothes/shoes when viewing foreclosures because most of the time the properties are dirty…also a good idea to carry hand sanitizer or even a small first aid kit in the car.

Make sure you bring a When searching for foreclosure deals you need to think like a detective.

note pad so you can jot down all the items in the home that need to be repaired and note in detail the overall condition of the foreclosure property. Your Realtor can help you with calculating the costs of repairs and provide you with the properties repaired value so you can make the determination on whether or not the foreclosure is worth your while.

You can do most of your searching right from your computer by having your Realtor send you foreclosure email notifications whenever a foreclosure comes to the market, with the notifications you can weed out the properties that are not of interest to you and go and view the foreclosures that look good on paper…just remember that sometimes it may look good in the printout but when you get there it could totally not be what you expected.

We are seeing foreclosures selling from 40 to 80 cents on the dollar and depending on the condition some are selling for even less!

There are deals out there and with the right tools and resources getting a deal on a foreclosure property is that much easier!

If you have any questions on how I can help you in finding and getting a deal on a foreclosure property you can call me direct at [312] 217-4354 or by email: info@ilbankhomes.com