Chicago IL – Short Sales where two or more mortgages are involved are the trickiest. Both mortgage companies are losing a lot of money.

They both think that they are entitled to the proceeds of the sale. This is the most common short sale problem. Today we’ll give you an example of how we solved this problem.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

For example, we had a short sale with a first mortgage, a second mortgage, and a third lien. The third lien was an old credit card judgment. It had to be paid off to sell the house. Here is what happened.

The first mortgage was only willing to pay $3,000 to any second mortgages or liens. The second mortgage wanted $4,500. The credit card judgment wanted $5,000. How were we going to get the extra money for them?

I had to escalate the file with the first mortgage. I told them that they had two options.

Option one: Pay the first and second mortgage what they wanted and net X from the short sale.

Option two: Foreclose and net $15,000 less than X. Yes, my projections showed that they would lose an additional $15,000 if they rejected the short sale.

I have a calculator that puts all these numbers together. In addition, I have the proof to back it up.

Here is an example of that proof. There was recent short sale where the first mortgage stubbornly refused to give enough money to the second mortgage.

As a result, they foreclosed on the house and sold it for around $43,000 less than the short sale price.

I found out about this house because I met the first buyers at an Open House. They were trying to buy a short sale and were offering $272,000. The first mortgage was RBC, owed $337,500.

The 2nd was Bank of America, owed 70k. The agent submitted the short sale offer to both companies. RBC said they would only pay $1,000 to the second mortgage. The second mortgage wanted more.

The short sale dragged out for months. Finally the buyer paying $272,000 walked. The listing agent put the house back on the market. The housing market had declined. Now the only offers she could get were around $230,000. The house ended up selling for $229,000.

RBC was greedy and wouldn’t offer enough money to the second mortgage. As a result, they lost around $43,000. Was that a smart business decision? I don’t think so.

Now, back to my short sale story. I sent this and several other similar examples to the people at the first mortgage company. They agreed to pay the second mortgage $3,000 and completely pay off the credit card judgment.

Everyone came to an agreement and the sale closed. The seller was able to wipe out over $70,000 in upside down debt and move on with her life. Thinking about a short sale? Visit the Chicago short sale expert at www.ShortSaleSuperMan.com for more information on short sales.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on How To Solve The Most Common Chicago Short Sale Problem is provided as a courtesy to our viewers to help them make informed decisions.

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Chicago IL – In most areas the rental market is very tight. Rental prices have been increasing because so many people are losing their home to foreclosure.

But, what is still surprising is that in most cases it is still cheaper to rent than own an upside down home. See, home prices have dropped by 20-50%, depending on the area.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

It was a lot less expensive to rent back in the peak of the real estate boom. After the crash rent dropped in many areas.

It has come back up, but it is still cheaper than a mortgage payment on a home bought at the peak of the housing market. Many people are shocked that it is often cheaper to short sale and rent that staying in their home with a loan modification.

Here are the two factors that make it possible to rent a comparable or even nicer home for less than their mortgage

Let’s take the example of a home who paid $150,000 for a home that is now worth $75,000. Their mortgage payment was around $1,350 a month.

They stopped paying their payments and moved to a rental. They found a much nicer, larger home to rent for $850 a month. (This was after trying for months to convince their lender to modify their loan.)

The lender wouldn’t drop the payments below $1,200 a month. The house they are renting is selling today for around $95,000.

Someone can buy that house for $95,000 and rent it for $850 a month without losing money. That is what makes it cheaper to rent versus getting a loan modification and staying in your home.

When prices were rising it was actually more expensive to own versus rent. But, everyone wanted to own because their house was supposed to go up in value.

If you are thinking about a loan modification, then first check into the rental market. You will be able to negotiate your loan modification from a position of power.

That will make it more likely that you will get the reduced payment you need so you can keep your home. Thinking about a short sale? Visit www.ShortSaleSuperMan.com for more information on Chicago short sales and how I can help you sell your under water home.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Chicago Short Sales: Even With The Tight Rental Market It Is Still Often Cheaper To Short Sale And Rent is provided as a courtesy to our viewers to help them make informed decisions.

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Chicago IL – The Stop Foreclosure Institute recently received a question from Richard. “I accepted a job transfer and had to move. Unfortunately we were upside down on the house.

I decided to rent it out rather than short sale it. The renters just moved out. I just checked the house. They trashed it!

I could rent the house out again, but I would have to spend several thousand dollars fixing it up first. What would you recommend that I do?” Richard asked.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

This is a classic example of when a short sale is the right option. Rather than limping on with a wound you are able to get rid of the upside down debt and move on with your life.

The banks received a bailout. where is the bailout for the common man? A rental that is losing money every month is like a cancer. Left untouched it just gets worse and worse.

Unless you have a lot of cash to treat the problem, then it will eat away at your finances month after month. You could fix up the house and rent it out again. But, you risk having the same thing happen all over again.

If you are able to rent it and cover all the costs, then I would recommend you keep the home. If not, then I would recommend you short sell it.

If you can break even, then the house will be a good investment as the real estate market recovers. However, you will always risk large unexpected costs like the one you are experiencing right now.

If it the rent does not cover all the costs, then the burden will only get bigger as time progresses. Costs will keep on going up. Rent prices might drop. The housing market could decline even further.

It would be better to just get rid of the liability now, once and for all. Thinking about a short sale? Visit www.ShortSaleSuperMan.com for great information on Chicago short sales. I’ve closed over 50 short sales and have the experience to get your home sold and get you out of debt.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com.

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on A Good Example Of When A Chicago Short Sale Would Make Life Easier is provided as a courtesy to our viewers to help them make informed decisions.

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Chicago IL – The National Consumer Law Center wrote a White Paper on how banks handle loan modifications, short sales and foreclosures.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

They titles their White Paper “Why Servicers Foreclose When They Should Modify and Other Puzzles of Servicer Behavior.” Check out the White Paper at this link: http://www.nclc.org/images/pdf/pr-reports/report-servicers-modify.pdf.

The “servicer” they are referring to is a bank that is handling a mortgage for another entity.

As an example, around 80% of all of Bank of America’s mortgages are not owned by Bank of America. Instead, they are owned by another entity like Fannie Mae or a hedge fund.

Bank of America is simply handling the accounting, tax filings, and the foreclosure and collections process. The Consumer Law Center thought it was “puzzling” that servicers preferred foreclosure over loan modification.

The reason that the servicers prefer it is because it is less work and they make more money in the process. But, I don’t think it is puzzling. Why not?

Because there is almost zero accountability! The owners of these mortgages never check in on the process. They don’t know that a servicer denied a short sale offer for $385,000, only to see the property sell for $230,000 as a foreclosure.

Because they are not checking on things Uncle Sam and the owners of these loans are seeing huge, unnecessary losses. Pretty sad, isn’t it? Thinking about a short sale? Visit www.ShortSaleSuperMan.com for more information on Chicago short sales.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com. Or Visit www.ShortSaleSuperMan.com

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Chicago Short Sales: Why The Lack of Accountability Has Hurt The Housing Market & US Economy is provided as a courtesy to our viewers to help them make informed decisions.

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Chicago IL – I have something shocking to tell you. Bankers are not as smart as you or I think they are. You know the “perfect banker” that we meet in public.

The person has never missed a payment, never been late, and has always had a bunch of savings in the bank. They sneeringly look down on normal Americans that haven’t saved their money like Scrooge Chuck.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

Here is the sad truth. Although they think that they are so smart with money, they actually are not. And today I’ll show you one example why.

Let’s look at how 90% of the banks handle the short sale process. When an offer comes in on a short sale, it takes 30-60 days for a person at the bank to look at the offer.

Then, that person orders an appraisal on the property. After that appraisal comes back, the bank employee reviews the property value and the home seller’s personal financial situation.

Based on that, they approve or deny the short sale offer. They do this to avoid approving short sales when either a homeowner can still afford the house or the house is selling to low. Seems like a smart way to do things, right?

Here comes the stupid part. What do they do if the short sale offer is rejected? Well, they tell the buyer to hit the road and close the file. Everything gets thrown out. The appraisal is thrown out. And all the time that employee spent looking at the seller’s finances is thrown out.

Which means that they have to do all of that work again when a new short sale offer comes in. What’s worse is that it causes the banks to lose millions of dollars.

As an example, an agent I know told me about a short sale property he handled. “The first offer for $275,000 was rejected by the bank. Several more offers were rejected over the next year.

The housing market continued to decline. Finally almost 2 years later they accepted an offer for $235,000. Yes, they lost $40,000 because of the flawed short sale process.

That’s a pretty dumb way to handle things, isn’t it? And yet, most bankers sneeringly think they are responsible with money! It’s crazy, isn’t it?

As you can see, the key to a successful short sale and avoiding the mark of a foreclosure on your credit. Thinking about a short sale? Visit the Chicago short sale expert at www.ShortSaleSuperMan.com Learn all about short sales and how you can move on from your underwater home.

I can help you short sale your property and get back on your feet. Send me an e-mail at myrealtorphil@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:

Phone: (312) 953-6725. myrealtorphil@gmail.com.

View My homes for sale at www.BetterLivingRealty.com. Or visit www.ShortSaleSuperMan.com

Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.

Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved.

Important Notice

Phil Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Phil’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..

This information on Chicago Short Sales: Some of the Stupid Things Banks Do On Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

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February 2012 Market Update

2012 – Year Of The Short Sale – Get Started Now!

By Phil Buoscio – Managing Broker

2012 is an important year for those of you considering short selling your home or investment property. Why? Because the Mortgage Forgiveness Debt Relief Act of 2007 may allow you to short sell your home with zero tax consequences. While not everyone will qualify under this act, there’s a very good chance that you will. Why is this important? This act expires in December of this year! Talk to your accountant.

A typical short sale usually requires 3 months to close at a minimum. It’s February 15th. That means in a best case scenario you could close a short sale by May 15th. Remember this is best case. Reality is many short sale drag out past 5 months and sometimes even 9 months. So a short sale taking 9 months to close would close on November 15th, 2012. Now that’s cutting it close if you ask me.

Check out this story from the Chicago Tribune on this issue and the Mortgage Forgiveness Debt Relief Act of 2007.

Trib Story – Mortgage Forgiveness Debt Relief Act of 2007

Procrastinating on short selling could mean the difference between being free and clear of your home or owing the IRS thousands. I personally hope this act gets extended, but at this point it time it hasn’t. While it may seem like 10 months is a lot of time, the tax-free window of opportunity to do a short sale is closing faster than you think.

Check out this example of how this act would effect a homeowner:

Let’s say a house sold for $100,000 and owner owed $200,000. That $100,000 difference is a loss to the bank. The bank writes that loss off and in turn the IRS will treat that $100,000 loss the bank took and apply it as income to you. So let’s assume this is an owner occupied house. Let’s say it closed November 15th, 2012. As an owner occupant, no taxes would be owed to the IRS on the $100,000 that is considered income from the short sale.

Now let’s say the Act doesn’t get extended. The house closed January 5th, 2013. Even as an owner occupant, you would be on the hook to pay income tax on that $100,000. You can do your own math, but even in the 15% tax bracket, you’re going to take a pretty big tax hit.

Finally, before deciding to short sell your home, contact a qualified tax accountant. Here’s a link from the IRS on the Mortgage Forgiveness Debt Relief Act of 2007 where you can get a better idea of the guidelines to qualify. Investment properties can also be sold tax free as well if you’re insolvent. Again, please speak with an accountant to find out if you are insolvent.

If you want more information on the short sale process, check out my short sale blog at www.ShortSaleSuperMan.com There you will find hundreds of articles loaded with everything you would ever want to know about a short sale. There’s also many real life scenarios that you might find are similar to you or someone you know. Or call me directly at 312-953-6725. My consultation if free and private. Please remember that not everyone is a candidate for a short sale. Generally there must be some financial hardship to justify a short sale to your lender and even then your lender may not approve a short sale.

January 2012 Home Sale – Anything To Be Excited About?

By Phil Buoscio – Managing Broker

Yes, and no. Below are some charts showing the stats for January 2012. The first two graphs show home sale for the month of January in 2010, 2011 and 2012. Looking at month over month sales number like this isn’t truly indicative of how a market it doing. But the graphs below do show that we had some improvement in the Chicago market this January compared to last January (2011).

January Comparison 2010, 2011 & 2012

Based on data available as of February 15, 2012
All data from MRED. Powered by 10K Research and Marketing.

The next set of graphs I believe are a better measure of the market and where it’s going. It shows sales numbers comparing one entire year to the next. I sent out similar graphs last month when analyzing 2011 as a whole. Not much has changed in a month. For single family homes across the city, prices seem to have stabilized. By stabilized I mean over the last 3 years prices haven’t fluctuated up or down more than 4%. This is generally good news in my opinion for you single family owners. But remember, your individual market may be completely different then Chicago’s trends over the last 3 years.

The bad news still seems to be the condo market. While the chart above shows an increase in value in January 2012 compared to January 2011. You can still see in the graphs below that condo values are taking a beating. The decline has been consistent and steady since January 2009.

We’ll see what the spring market brings us. I predict continued stability in the single family home sector, with some slight appreciation possible for the city as a whole. As far as condos go, I think this spring will be better. I think we might see the line in the graph below straighten out a little bit between now and June. I ultimately think condo values will continue the trend downwards after this spring though.

Let me know what you think. Or if you want to get a better idea of what your home or condo is worth, give me a call at 312-953-6725. I can complete a full CMA on your home for free and give you idea if now is a good time to sell (or refinance).

Yearly Comparison – Feb. ’09 to Jan ’10, Feb. ’10 to Jan ’11 & Feb. ’11 to Jan ’12

Based on data available as of February 15, 2012
All data from MRED. Powered by 10K Research and Marketing.

Better Living Realty is an independently licensed real estate brokerage in IL. Phil Buoscio is the managing broker of Better Living. Better Living is an equal opportunity housing brokerage. Office (By appointment only): 2724 1/2 W. Windsor, Chicago, IL 60625. Office Phone: 312-330-3730