Monday, December 22, 2008

Foreclosures A'Plenty In Uptown

If you've ever wondered how many foreclosed units we have in Uptown, here is your answer. Check out or this direct link for the 60640 zipcode.


  1. This is the point I have been trying to make for a long time. There are many foreclosures in Uptown. Many are brand new construction, 2br and 2ba units. One just sold for $219,000.00 with a parking spot! (Not to scare any evil home owners, these properties are bank-owned.)

    This is the avenue we should be pursing to house low income families instead of building them a building. It is cheaper, and not so concentrated. The last thing this economy is more residential housing. There is a massive oversupply, no matter what the alderman and her supporters think. Going this route would clean up the Real Estate market in this area and supply us with an affordable housing.

    BTW: Realtytrac is not that great of a website. It is good for leads, but it is not very accurate. Many of the properties listed in the search that were bank-owned have sold a long time ago. Also, "Pre-foreclosure" is a very vague term. It includes people you may have just been late on a mortgage payment, for example.

    December 22, 2008 9:30 AM

  2. Maybe Jason, or someone else, can offer a couple of good websites for foreclosed properties. I would like to buy in the Uptown area or just south of it and having a good site to research would be great.

  3. Try Cribchatter dot com

    You do need to do some serious research before buying a foreclosure.

    Can result in a good deal though as banks love to get the property off their books.

  4. I would definately check out cribchatter. The people on that blog know what theya re talking about. You really need to have your SH^^ together to get a foreclosure. Realtytrac is a good start, but you have to do alot of resaerch.

  5. Thanks for the info and advice. My brother bought a foreclosed home in the DC area and he told me the same thing...research, research, and more research. Thanks again!!!

  6. Jason-

    Thanks for your intelligent responses. It's more productive than the negacity that occurs on UU.

    PS. I was waiting for an opportune time to use the word negacity. Just learned it in a game of Balderdash.

  7. Ohhh... great word. Jason for alderman! ;-)

  8. Sorry Jason, you've communicated with the community three times, that disqualifies you from being an alderman.

  9. Balderdash, indeed. If it weren't for the urban dictionary, there's be no negacity, t'all.

    Regardless - not to dampen the mood, but the hitch with the foreclosures buys is that the developers/residents would need to "ok" the deal.

    That might not happen as often as we may all would like to see.

    Still - there's fodder in an idea that could do more for the under-privileged; rather than ascend Shller's legacy (especially when I read, today, that developers are looking toward the TARP funds for help).

  10. As an agent, I can verify that foreclosures are very tricky. You must be very patient and not be in a rush. Banks usually take their time with offers, and in my experience they are in no hurry to call you back.

    I agree that that website is not always accurate. Feel free to contact me, the MLS is much more accurate but only agents may research through it.

  11. I could not agree more, with the notion that, why on earth would we want to support $400k or more 'no income' housing (at WY) when there are options like these in Uptown?
    Talk about 'Negacity'

    'Negacity' is the mascot word for Shiller's office, no?

  12. allows everyday people, not just agents, access the MLS as well. Their site also includes foreclosures I beleive. This way you can search it casually and not add the agent as a middleman. Especially helpful if you're not serious about buying so you're not bothering an agent who's time is money as they work on commissions.

  13. here's an excellent free online resource for tracking foreclosure trends (it won't help you find a bargain)

    Woodstock Institute

    First Half 2008 Foreclosure Filings