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Following real estate transfers in Waukegan Pt. 2
#41
There is a Mark A. Graff who is the managing broker of Graff Realty, Inc. in Fox Lake, IL <!-- m --><a class="postlink" href="http://www.graffrealty.com/about.htm">http://www.graffrealty.com/about.htm</a><!-- m -->
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#42
WkgnBorn&Raised Wrote:There is a Mark A. Graff who is the managing broker of Graff Realty, Inc. in Fox Lake, IL <!-- m --><a class="postlink" href="http://www.graffrealty.com/about.htm">http://www.graffrealty.com/about.htm</a><!-- m -->

Thanks wkgnborn&raised Smile

The number of foreclosures in the paper have been astounding. Last night I counted. Just shy of one hundred notices.

What exactly does the notice mean? Has the person been vacated yet or is the notice they are about to? One hundred... hundreds more in the last month.
Reply
#43
Here's today's list. One person even bought two properties. Is that the Keith Gray that ran for office? Look at those prices...


Waukegan

702 Franklin St.: to Robbins, Penny L.: Feb. 23: $124,000.

1001 Massena Ave.: to Gray, Keith T.: Feb. 23: $52,000.

625 N. Butrick St.: to Ruiz, Raul & Margarita: Feb. 17: $72,000.

326 S. Victory St.: to Gray, Keith T.: Feb. 23: $48,000.
Reply
#44
I wondered if it was the same Keith Gray, also. The prices are frightening! We bought our house 11 years ago- and it's worth about what we paid for it! Sad
Could be worse- I feel bad for anyone who bought in 2007, before the bottom fell out.
Reply
#45
Mama mia. Only two homes listed this week.

Waukegan

920 Adams ST, to Mendez, Antonio: Feb. 26: $130,000

42 Keller Ave.: to Alvarado, Irvin & Carrasco, Florencia: Feb. 27: $74,000


I kept a count of how many foreclosures I saw in the paper Monday through Friday. Any guesses?

252...
Reply
#46
The foreclosure notices in the paper continue to grow by the week in the paper. This morning the real estate transfers were slim. Waukegan had only one listing.

Waukegan

4127 Continental Drive: to Gutierrez, Jaime: April 1: $98,000.



Vacant residences up 11% in county
Comments

May 9, 2009
By JUDY MASTERSON and Cheryl Rafferty <!-- e --><a href="mailto:jmasterson@scn1.com">jmasterson@scn1.com</a><!-- e --> <!-- e --><a href="mailto:crafferty@scn1.com">crafferty@scn1.com</a><!-- e -->

Meet the forgotten housing crisis.

The number of vacant residences in Lake County increased by 11.22 percent in the last year.


[Image: vacant.jpg_20090508_23_17_45_147-116-165.imageContent]

(Michael Schmidt/News-Sun)

Lake County numbers Total residences

3/31/08 3/31/09 Pct. chg.

271,444 272,689 .46

Vacant residences

3/31/08 3/31/09 Pct. chg.

7,395 8,225 11.22 Vacancy rates for Lake County towns Town Vacant 2008 Pct. vacant Vacant 2009 Pct. vacant Pct. chg.

Antioch 39 1.4 66 2.4 1

Gurnee 289 1.6 315 1.7 .1

Lake Forest 282 4.1 311 4.6 .5

Libertyville 350 2.7 375 2.8 .1

Mundelein 223 2.1 245 2.2 .1

North Chicago 265 5.3 517 10.77 5.4

R.L.Beach 277 2.3 261 2.3 0

Vernon Hills 32 .6 74 1.3 .7

Waukegan 1,794 5.8 2,138 6.9 1.1


Zion 595 6.8 627 6.9 .1

Data compiled from census neighborhood tracts which don't necessarily follow exact town boundaries.

Source: wid.ap.org/neighborhoods

An analysis by The News-Sun, based on data collected by the U.S. Postal Service and the U.S. Department of Housing and Urban Development, shows 8,225 residences were vacant in Lake County as of March 31, 2009. That compares to 7,395 vacant residences on March 31, 2008.

The percentage of empty abodes increased from 2.72 percent to 3.02 percent.

Federal lawmakers have designated nearly $6 billion over the past year for local governments to do just that -- buy and either rehabilitate or demolish foreclosed and abandoned homes.

In Waukegan, where the number of vacant single-family homes and apartments increased 1.1 percent from 1,794 in 2008 to 2,138 in 2009, $850,000 in federal stimulus money, drawn from $4.6 million in housing redevelopment funds coming to Lake County, will be used to rehab foreclosed/vacant properties.

The current 7 percent vacancy rate in Waukegan's housing stock is an indication that the city is struggling with unemployment, said new Mayor Bob Sabonjian.

"We're fighting through a recession that there's no quick fix for," Sabonjian said. "We're trying to develop a plan to keep an eye on these properties, keep the grass cut -- nuts and bolts stuff -- and we want to get occupancy in days when people can't get mortgages."

Sabonjian said the city is working with Community Development Block Grant funds and agencies like the Affordable Housing Corp. to get people into empty addresses. "But keeping them in is the problem," he said.


An injection of federal money will only make a modest dent in the abandoned housing problem. As of March 31, there were about 4 million homes that have been empty for 90 days -- a slight increase over last year's figures and about 3 percent of all U.S. homes.

The federal money will be distributed based on a formula that considers local rates for foreclosures, high-cost mortgages and vacancies. There won't be enough money to completely fix places like the Waukegan neighborhood north of 12th Street, where no one lives behind 178 front doors.

The number of abandoned homes in the nation's 65,000 neighborhoods concerns both federal and local officials because they could prevent economies from recovering. Empty housing feeds upon itself. It entices thieves looking for metal to sell for scrap. Experts say that as more houses stand vacant, property values and tax revenues drop. The drop in property values leads to fewer buyers, which leads to more vacancies.

North Chicago Mayor Leon Rockingham has seen that happen in areas of his city, where nearly 11 percent of all residences sit empty, up from 5 percent in 2008. He is concerned about blight and the effect of lost population on federal funding for the city.

That concern is not universal. More affluent communities can absorb the impact of vacancies.

Gurnee's vacancy rate of 1.7 percent, representing 315 addresses, is well within the norm, according to Mayor Kristina Kovarik, who said employee relocations by Abbott Laboratories have always meant higher inventories of empty houses.

"Typically we're between 2 and 4 percent," Kovarik said. "That's not bad for between 8,000 and 9,000 households. We're still in decent shape."

Kovarik, a consultant in mortgage finance, said she will worry when she sees concentrations of vacancies in a neighborhood.

"Three or four houses in a neighborhood or on a street can drive down values," she said. "Ours are scattered."

<!-- m --><a class="postlink" href="http://www.suburbanchicagonews.com/newssun/news/1565755,5_1_WA09_VACANT_S1.article">http://www.suburbanchicagonews.com/news ... S1.article</a><!-- m -->
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#47
Nearly 100% increase in cases heard. Confusedhock:

Court branches out on mortgage foreclosure cases

May 9, 2009
NEWS-SUN STAFF REPORT


The faltering economy is having an effect on how foreclosure cases are being handled in Lake County courts.

Due to a nearly 100 percent increase in foreclosures, the 19th Judicial Circuit has announced that it will begin hearing cases in local branch courts.

Beginning in June, uncontested mortgage foreclosure cases will be heard in the Park City Branch Court, 301 S. Greenleaf Ave., on select Tuesdays and Fridays. The use of the Park City space, along with the continued use of courtrooms in the downtown Waukegan courthouse, will effectively double the amount of court time devoted to uncontested foreclosure cases.

Complicated or contested foreclosure cases will continue to be heard in the Chancery Courtroom of the main courthouse.

According to filing records, mortgage foreclosure case filings increased 96.9 percent from 2004 to 2008. In 2008, 3,357 cases were filed seeking to foreclose mortgages in Lake County, compared to 1,704 in 2004. Additionally, the court administrator for the 19th Judicial Circuit found that court calls went from an average of 125 cases per day in the last half of 2006 to an average of 249 cases per day in the last half of 2008.

"For the last year or more, the days when mortgage foreclosure cases were heard in the main courthouse, we had people jammed in the hallways, and as many as four judges at one time pitching in to help with the call," said Chief Judge James Booras. "We clearly needed to respond to the mortgage foreclosure crisis, and we needed to be creative."
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#48
Last week I believe only 4 or 5 homes were listed. This week a bit more for the April transactions. Looks like a couple of developers. Look at these low prices 'urban pioneers.' Smile


Waukegan

2431 Chevene Road: to Wallace, Kathleen M.: April 7: $125,000.

4197 Continental Drive: to Negron Jr, Jesus & Negron, Celines: April 3: $112,000.

603 E. Elmwood Ave.: to Ruiz, Mario: April 10: $105,000.

1904 Edgewood Road: to Fadill, Tony: April 7: $78,000.

1640 Ferry St.: to Fonseca, Martha: April 6: $60,000.

328 Glendenning Place: to Di Stevio Homes LLC: April 8: $160,000.

2925 Hyde Park Ave.: to Zuraitis, Michael: April 6: $155,000.

819 Muirfield Ave.: to Bottom Line Innovators II LLC: April 3: $107,000.

816 N. County St.: to Rios, Ivan & Barnett, Jacklyn R.: April 8: $100,000.

2904 N. Pine St.: to Retana Nava, Ricardo & De Retana, Gloria Nava: April 8: $89,000.

601 Pioneer Court: to Palmer Williams, Samaria: April 6: $80,000.

274 S. Kyle Drive: to Trujillo, Alberto & Gloria: April 10: $215,000.

2321 Seminole Road: to Cambray, Evaristo & Maria: April 10: $75,000.

2636 W. Cheyenne Road: to Bulakowski, Jill S.: April 6: $135,000.

1535 W. Monroe St.: to Salgado, Catalina: April 10: $50,000.

1516 Wilson Ave.: to Nevarez, Chesica & Yadir: April 3: $119,500.
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#49
Almost half of the transactions are from outside? investors? More absentee landlords? How can Mayor Sabonjian promote more single family homes and individual ownership?


Waukegan

1532 Alexander Court: to Liberto, Matthew & Nicole: April 15: $190,000.

518 Archer Ave.: to Roman, Hugo: April 24: $110,000.

1901 Brookside Ave.: to Garcia, Alberto Mendez: April 20: $85,000.

1020 Judge Ave.: to Bottom Line Innovators II LLC: April 21: $60,500.

2105 Lorraine Ave.: to Grand Management LLC: April 13: $205,000.


701 S. Martin Ave.: to Esp, Richard C.: April 23: $129,000.

2924 W. Keith Ave.: to Encalada, Nagelie Sheila & Andrewin, Kareem A.: April 24: $160,000.

1003 W. Pacific Ave.: to Bottom Line Innovators II LLC: April 23: $66,000.

603 Washington Park: to Washington Park Of Valaar Prop: April 16: $145,000.
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#50
Got this notice in my Waukegan google alert. Keeping forgetting about this part of Waukegan's southside. Wink Where does this neighborhood send their children to school? When you see the map you can click on it and move the hand to see some of these large homes. Anyone know more about this neighborhood?

<!-- m --><a class="postlink" href="http://lakeco.blockshopper.com/news/story/800020807-Oberlin_admissions_director_buys_in_Waukegan">http://lakeco.blockshopper.com/news/sto ... n_Waukegan</a><!-- m -->


Oberlin admissions director buys in Waukegan
by Kate Murphy, published May 29, 2009



Leslie A. Braat and Stephen C. Braat bought the four-bedroom, 3.5-bath home at 2310 W. Steeple Chase Circle in Waukegan from Marlin Hutchens and Linda Hutchens for $785,223 on April 28.

The Hutchenses acquired the property for $700,000 in Sept. 2003. The 4,303-square-foot house that was built in 1986 is in the Waukegan South neighborhood.

Ms. Braat is the senior associate director of admissions at Oberlin College.

She received her bachelor’s and master’s degrees from the University of Toledo. She earned her Ph.D. and completed her post-secondary education at the University of Michigan.

There were 957 home sales in Waukegan in 2008, with a median sales price of $108,464.

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More real estate info. here;

<!-- m --><a class="postlink" href="http://lakeco.blockshopper.com/neighborhoods/waukegan_south">http://lakeco.blockshopper.com/neighbor ... egan_south</a><!-- m -->

I had always thought about going into real estate when I retire but ahhh, I might be re-thinking that. Confusedhock:
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