The success of the Will County Neighborhood Stabilization Program to help 93 families purchase renovated foreclosures in Bolingbrook, Romeoville, Crest Hill and Joliet has helped the program rank second in the nation, the Chicago Tribune reports.
“The downturn in the housing market left nearly every neighborhood with blighted and vacant properties,” Will County Board Speaker Herbert Brooks told the newspaper. “This program replaced dilapidated homes with newly renovated ones and made the dream of home ownership possible for many families.”
Read the full Tribune article, “County’s foreclosure program wins national recognition.”
Housing starts up 6.8% in May – USA Today
Most major loan servicers not complying with mortgage settlement – Chicago Tribune
Cash can be an advantage when purchasing a home in today’s market but buyers need to be careful that if they go the cash route they don’t neglect their own best interests by foregoing appraisals, inspections and title insurance, according to the Wall Street Journal column, “The Downsides of Cash.”
Housing recovers as underwater-borrowers shrink – Daily Herald
Area foreclosures drop, but deserted homes hurt neighborhoods – Pantagraph
Tri-Cities, Kane foreclosure activity declines in May, continues positive trend – Kane County Chronicle
Fiscal constraints will keep U.S. economic growth around 2 percent for much of the year, but a recovering housing market, growing household wealth and expanded energy production will bring a boost, according to Fannie Mae’s latest forecast. Read the news release.
Housing was largely positive entering the spring/summer season, with various indicators such as home prices, home sales, and homebuilding activity showing signs of long-term improvement toward normal levels. Despite rising mortgage rates during the past month, which have affected refinance originations, affordability conditions remain high and should not present a significant obstacle to potential homebuyers, according to Fannie Mae.
MREDpalooza, a free, one-day real estate tech expo, will be held from 9 a.m. to 4 p.m. on Tuesday, June 18 at the Stephens Convention Center in Rosemont, Ill. Join the thousands of expected attendees for training sessions, product demos and other tech ideas that can help you with your real estate business.
The Illinois Association of REALTORS® (IAR) is one of the proud sponsors of the event. Come see IAR at booth #102! We have a FREE copy of the just-updated “Property Taxes in Cook County: Know Your Rights” for you and your clients from IAR’s RVOICE program!
Also, don’t miss out on a chance to win $500 in the RPAC Power Cash Raffle!
Those wishing to attend MREDpalooza are asked to visit MREDpalooza.com for free registration and event information.