Property Management Seminar

I will have a class on Rental Property Management, Tuesday, August 19 from 6-9 pm in Mundelein, Illinois. This seminar is sponsored by the Lake County Property Investors Association. Hope you can make it!

Click for Details
Our July 29 class covering the Legal Aspects of Landlording was well-attended. Participants received a 181-page workbook plus companion CD-ROM of forms and [...]

Senate approves housing relief bill

Dodd to families: ‘Help is on the way’
By Richard Simon | Los Angeles Times | July 27, 2008
WASHINGTON – Congress completed work Saturday on the government’s most sweeping response yet to the nation’s housing crisis, sending to President George W. Bush a bill designed to help homeowners avoid foreclosure, spur home buying and prop up struggling [...]

Have banks bottomed out?

Despite stock price jump for many this week, analysts see problems continuing
By Becky Yerak | Chicago Tribune reporter | July 19, 2008
Don’t break out the bubbly just yet.That’s the thinking of several bank watchers who, despite seeing financial services stocks end the week on a high note, say the worst probably isn’t over as the [...]

Keep your eye on closing fees

By Renae Merle | The Washington Post | July 20, 2008

You looked hard to find the right house. You negotiated the right price and shopped around for the best mortgage rate.
But you’re not done shopping yet.
Home buyers can squeeze out extra savings at the closing table if they negotiate on fees charged by lenders, closing [...]

Legal Landlording Seminar

I will be presenting on the Legal Aspects of Landlording, Tuesday, July 29 from 6-9 pm in Mundelein, Illinois. This seminar is sponsored by the Lake County Property Investors Association. Hope you can make it!
Click for Details

New wave of mortgage resets coming

Today’s Chicago Tribune had an article by Renae Merle entitled “Hot time for ARM resets this summer.”
According to the article, the summers of 2005 and 2006 were a hotbed of subprime lending, with rates scheduled to reset after two or three years. This indicates a new wave of resets are due about now, with another (smaller) wave [...]

REO inventory increased in June

In my market area, active REO listings increased 1.7% over May
Pending listings (under contract, no contingencies) increased 26.2%
Closed listings increased 69.0%

Month over month inventory growth slowed in June. Are brighter days ahead?