Chicago Real Estate

Financial Troubles are rocking the Italian Sports Hall of fame. I pulled up and went in recently and put some money in the jar there… trying to help… but I hope someone really big steps in.
Maybe Mario can donate his ice sales for a few weeks or something.. one gives and the other gets you know.
My Grandfather Angelo Buoscio migrated from Italy and ended up on Taylor before he swung down to the 10th ward and dug ditches near the stell mills in the Hegewisch area.
He would be upset to see that he non profit group holding the hall of fame is hurting. The organization it seems is regrouping to keep the association alive. It would be a big blow to the Taylor street area to see such a collection of history in one place gone… poof to the economic downturn.
I hope someone out there with the ability can stop in and drop off more than a few bucks in the jar.

You bought ‘cuz you loved the scene….
The busy Randolph and Fulton market area.. which is lovely for it’s dichotomy of grungy fish smelling trucks backing up and blocking streets against hi-end galleries or shops… love it.. essential Chicago fix is gotten on a mid-day bike ride through here(highly recommended).
Here was this wonderful loft with ceilings you could bounced ideas around and enjoy the west setting son after work with a chardonnay chilled in your hand on your deck… but you didn’t plan on the long walk to the el… or to be clad to the bus for that long.. cuz you were banking on all the Realtors’ chatting up the probability of the el stop going in.
So if you bought a condo.. like a few I know counting on that Morgan street el stop of the green line materializing.. you bet wrong. But don’t worry you’ll meet more people walking and stay in shape walking to the further el stop east. The Morgan station (at 1000 west) was to be the first of a few stations between Clinton and Ashland.. to cover the rich creamy filling of the n’hood between.
Danny Davis says the station will be built… but don’t take that to the bank. Official said it would be open in 2012.. but now bets are off for it to be soon with the funding crisis in all directions.

Do you want to buy a condo. Do you want someone who is born and raised here and personally closed 90 million and has a opinion and will lay it out for you and not be a pushover?

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 buying and/or selling process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725.

If your a short seller or know anyone in that position.. please hook us up.. I’m good at that too. Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Click here to request a copy.

Thanks for reading this, I love what I do and hope to serve you too… Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..

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

If you look at the online town hall you will see that 2nd ward Alderman Fioretti is angling for a Mayoral run? All the power to him I think. He’s a thinker and a guy of action. I’m intrigued with him. And I have to say that I’m a little jealous of the 2nd ward residents.. they have a independent minded leader..

If you want to see his online town hall…click here he will keep it online until he’s out of office… ouch… that takes guts.. .what if he messes up…

University Village Parents have gained some leverage. With lost mobility and equity in reverse there are serious investments being made in trying to grow families in the city. Chicago Public schools and their ward leaders are getting pushed to add a new neighborhood school near… or expand the Andrew Jackson magnet program … Current wisdom is that Smyth… a school with “lower income” residents nearby will receive a revap – a fix and facelift. But the desire is to push for Andrew Jackson expansion.

Both Alderman of the 25h(Solis) and 2nd(Fioretti) have recommended… and requested of Chicago Public Schools CEO Ron Huberman expand the Andrew Jackson Language Academy to address claims of a poor choice in neighborhood schools by some residents in areas of the 2nd and 25th wards.

The Alderman wrote a letter.. standing together on this issue… Beyond reopening Jefferson, which closed two years ago, and expanding the Jackson program, Solis and Fioretti requested that CPS redraw the Jackson service boundary to match Smyth’s in hopes of accommodating “neighborhood children who are currently underserved by neighborhood schools.”

Changing maps will include homes in the UIC South Campus Development, which is currently outside Jackson’s proximity zone, they said. Doing so would create more seats for families south of the Eisenhower i290 — which is Little Italy, University Village and East Pilsen.

Fioretti and Solis stand together on the issue, which affects residents living in Solis’ ward and those in Fioretti’s ward living near Smyth.

Chicago IL – I know a guy that wiped out 300k in mortgage debt. I’ll call him Tom. The name and some of the details have been changed to protect his privacy. Tom owed a lot of money on his house. He owed 600k on a first mortgage and then another 300k on a second mortgage.

<a href=”http://stopchicagoforeclosure.info/Short_Sale.html”>Discover how other sellers successfully did a short sale and request a free consultation by clicking here.</a>

Tom’s income dropped dramatically. He almost lost his home. He finally got a new job and was able to pay the first mortgage payment. Because they were closer to foreclosing, he found a way to pay them. But, he didn’t have enough money to pay the second mortgage.

So Tom didn’t pay the second mortgage. He was doing everything he could to save his home. The second mortgage called Tom a lot. “If you don’t pay us, then we will file for foreclosure”, they would say. <strong>Twelve months went by and no one filed for foreclosure.</strong>

Tom was quite surprised. “I had no idea when the sheriff was going to come out and kick us out”, Tom told me. We told him that most second mortgages never file for foreclosure. (Here is why they hardly ever do. In a foreclosure, the first mortgage gets paid off before the second mortgage gets a dime.)

In Tom’s case, his home’s value had dropped below the 600k he owed to his first mortgage. This meant that if the second mortgage did foreclose, then they would only lose more money. That is not a winning business proposition.

We also told Tom that he could probably settle with his second mortgage for five to ten cents on the dollar. That means he can eventually settle for $10,000 to $20,000. We first talked to him over a year ago.

Today, Tom still hasn’t made a single payment on his second mortgage. He has caught up all the payments on his first mortgage. In addition, he has been able to get back on his feet financially. <strong>He expects that he will settle with the second mortgage in a year or two.</strong> The first priority is getting all his other finances completely in order.

This story illustrates that you are not doomed. Many people owe more than their home is worth. They are able to short sale and get rid of the debt. Or, they can use creative strategies to reduce the level of debt. <strong>You can get your finances back in order with a little work and time.</strong>

Do you want to short sale your property and never pay the bank another penny? I can help you do that. Call me at (312) 953-6725 for a free consultation. When you call, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can e-mail me at <a href=”mailto:myrealtorphil@gmail.com”>myrealtorphil@gmail.com</a>.

Discover how other sellers successfully completed a short sale and request a free consultation by <a href=”http://stopchicagoforeclosure.info/Short_Sale.html”>clicking here</a>.

Thinking about a loan modification? Our Chicago Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. <a href=”http://stopchicagoforeclosure.info/Loan_Modification_Secrets.html”>Click here to request a copy.</a>

Thanks for reading this, Phil Buoscio.

Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..

Phone: (312) 953-6725. <a href=”mailto:myrealtorphil@gmail.com”>myrealtorphil@gmail.com</a>.

View My homes for sale at <a href=”http://”></a>.

Phil Buoscio specializes in short sales in Chicago Illinois. Chicago Loan Modification Help can be referred to you. Chicago Short Sales. Chicago Short Sale Realtor. Chicagoland Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor. Pilsen. McKinley Park. Bridgeport. Wicker Park. West Town. Ukranian Village. Lincoln Park. Logan Square.

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Those of you wondering where the steam went and why it’s all slowed down along Roosevelt avenue as you pass east of Ashland…..you’ll be glad to hear there is at least one more building going up soon. At 1300 west Grenshaw we are going to be seeing some new Six Units going up. Work will begin this summer and the building is supposed to hold three market rate condos and three affordable units. The University Village Association is having quarterly meetings to check the plans of the CHA as it move forward. Check the news and events section of their website if you live nearby and/or are concerned.

Check out a website that focuses in on the city area’s foreclosure rates and find some tuff news. That wave of foreclosures we thought was about to hit — it’s hitting now.  Woodstock Institute ( a Chicago based housing research and policy organization) says that 131 foreclosure actions against mortgagees were filed between January and June on the Near South Side. This is the 1200 to 3100 south area(south loop). This is up by over 50% year-on-year comparision. And… the West loop  area covering University Village, to 400 north and from I94 west to 2800 west shows that 227 cases were filed and that is up almost 75% from the first half of 2009!

Ok, so I love the Skinner school’s metallic ribbed metal facade – the building is wonderful so I walk around it alot with my dog Bowie. (Skinner is Chicago’s Skinner Elementary School serves grades PK-8 in the Chicago Public Schools district. It is among the few public schools in Illinois to receive a distinguished GreatSchools Rating of 10 out of 10.) .  So it’s great that it has a building to show it’s excellence. It is surely a new looking building… empowered and freed from the heavy brick and neo-classical look of the older schools. I went to one such heavy brick and heavy school as a CPS grammar school as a kid and I think that going to a bright, open school like this on a park would help define a positive intention each day for all who enter.
MICAH MAIDENBERG photo from Chicago Journal

If you have not gone by … head over there and walk around the school. The buildings on Block Y now benefit from such a major infastructure improvement. Now there is movement afoot to build a new dog park at the Northeast corner of Loomis and Monroe-the land is about to be cleared by the city as a 2 story building comes down at Monroe/Loomis. The city is holding planning meetings. Alderman Burnett is said to have interest in a dog park there. See this article in the Chicago Journal and if your interested in helping please contact the Skinner Park Advisory council.

Then contact Alderman Burnett’s office and  shoot off an email to tell him you want a dog park.

I was walking along Taylor street a few weeks back and saw a really all-out garden going crazy… and I was wondering what it was. It’s a little farm on the half acre of land on the north side of Taylor street just west of Ada. It’s cool. There are plots that are about the size of a large garden in your own yard… and there are over 40 gardeners now cultivating plants in beds there. When I walked by I saw some great tomatoes growing and many lines of lettuce. They are charging for space — about $100 bucks. There is an article I just saw in the Chicago Journal about it and decided to alert you all.

We just launched a blog strictly dedicated anything short sale related www.chicago-shortsaleblog.com The site will offer loads of knowledge and details about the whole short sale process.  There will be personal stories regarding short sales our office handles, articles explaining the basic principles behind short sales and even stories from other brokerages and agent across the Country.  Given current economic conditions, we feel that shorts sales are already a major force in the real estate market.  Now you have a Team you can trust that works on short sales daily and knows how to get your deals closed.  So if you or anyone you know are having trouble hanging onto a property, give us a call or at least visit our new blog www.chicago-shortsaleblog.com and get educated on short sales.  Considering distressed sales (foreclosures and short sales) are probably going to make up the majority of what closes in the next 2 years, you need to be in the know, whether buyer or selling.  So visit www.chicago-shortsaleblog.com often, as we will be making new postings every day.