There’s been a lot of attention to nationwide foreclosures in the news lately. The number of foreclosures is up this month, and looks pretty drastic. This is partly because of the moratorium on foreclosures in December and through February, awaiting word from the White House on how the federal government would intervene. Now that the moratorium is over, foreclosed properties that were already set for auction have been again scheduled for sale, and now there is a backlog of them.

Foreclosures are pressuring the real estate market in many cities, but providing many opportunities for home ownership. Formerly investors and “house flippers” were the majority at Chicago foreclosure auctions. But now, regular home buyers who want a chance at an affordable home are flocking to Chicago foreclosure auctions.

While foreclosures in huge numbers hammer housing prices, efforts to sell the homes and get them off the market have two benefits. One is that once the large inventory of Chicago foreclosures is off the market, housing prices can stabilize and a true market value can again be established, with homeowners once again building equity. The second benefit is obvious – the buyer gets a home at a low price.

Buying a Chicago foreclosure is not without risk, since the buyer is responsible for repairs and all liens against the property, including taxes, construction liens, and second mortgages. When it comes to Chicago condos, it’s possible to have less risk exposure than with a freestanding house.   We can help you with this. We can give you information about the building, the community, and assisting you in finding out the truth about all outstanding liens. We can also assist you with purchasing any foreclosure you choose, not just a condo.

Here at CondoDomain, we have partnered with RealtyTrac so that you can search all available and pending foreclosures in the Chicago area. Take a look at these, and then call us with your questions.

Douglas home is situated near South Lake Meadows. It is a new construction single family home 2 blocks from proposed Olympic Village. It has 3 floors with contemporary design, dramatic glass block wall. There are 4 bedrooms including master suite, family room, office, large deck off kitchen, attached 2.5 car garage. And still upgrades can be done if required.

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Remember when you buy with CondoDomain in Chicago you save thousands via our commission refund business model. On average our clients get back more than $10,000 cash back at closing! (Learn More)

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Finance & Mortgage: For the lowest rates on your next Chicago Condo check out our Exclusive Partner on our Finance & Mortgage page.

In anticipation for the all new CondoDomain Chicago search portal, we have pushed our local blog live! In the coming months we plan to release CondoDomain Chicago and begin working with buyers looking to purchase in downtown Chicago, IL! If you want to get a feel for what our site will be like in Chicago, IL, please feel free to check out our Boston site.

Why Buy With CondoDomain?

1. We are exclusive buyers brokers! We only do 1 thing…and we do it very well!

2. Condos! Its what we know! Its what we do!

3. Flat Fee! We run an efficient business that benefits YOU, not a commission based agency that is compensated when you spend more!

Our average client receives more than a $13,000 refund back at closing…

We’re Hiring!

If you are interested in learning more about the company please write us or check out our Facebook Group here.

About CondoDomain.com LLC

CondoDomain.com is a web-based real estate brokerage based in Boston, MA. The company is expanding nationwide to offer its buyers’ brokerage services in more than 30 cities around the U.S. Currently operating in Boston, CondoDomain offers an innovative flat-fee business model allowing the majority of the commission to be refunded to the buyer. By combining up-to-date MLS feeds, new construction buildings, FSBO, Foreclosures, Lofts and Auction listings all on one site, CondoDomain has become one of the most popular and user friendly real estate websites available. CondoDomain.com offers a 100% satisfaction guarantee to all of its clients, ensuring a professional, efficient, and pleasant transaction. Visit www.CondoDomain.com for more information or feel free to dive into our blogs at www.CondoDomain.com/blog.

For more information, please contact Erica Farthing at (877) 852-6636.

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