I just received an email linking me to an article by RIS Real Estate article which stated that fewer home owners are underwater in their mortgages. This at first sounded like good news but then it went on to qualify that news by saying that this is more likely not the cause of an improved real estate market but because there are more homeowners loosing their home to foreclosure.

I had to stop and think about that for a moment... Is this news at all? and if it is news what is it actually saying? As I see it there are fewer home owners because of foreclosure so of course there would be fewer homeowners underwater. This is like reporting the obvious.

Now if homes are being foreclosed the negative equity in these homes is actually being transfered from the homeowner to the bank and investor and I say is this news? No because if you have been in the business the last year we can see what prices homes have dropped because of the number of foreclosures.

I think this article is a bunch of crap not fact... What do you think.

It is time to vote for the Golden Turkey Award? Now until Thanksgiving I want to hear Active Rain members tell me who deserves the Golden Turkey Award this year. Be creative and tell me a good story because I am judging this competion. I know many things happen to us personally, professionally, so I am sure we can come up with some great nominations this year. Look forward to hearing from you.

The challenge begins now.....

As Bank of America announced they were ending there Moratorium on Foreclosures It dawned on me that we might be entering the Main Event so " Let's Get Ready to Rumble".

This Week the stage is brewing for a major Rumble with the Banks.

In Boston, political Activists were working with homeonwers and actually blockading homes, protesting in front of homes and preventing Banks from evicting these homeowners from their homes. It appears the new sentiment with homeowners is they will not leave their homes without a fight.

In Chicago, Cook County Sheriff Dart said he would not evict homeowners from their homes.

If there is a battle between Banks and Homeowners who do you think will win?

Will it be bloody?

Will it be dirty?

Will it be fair?

I think it is already bloody, dirty, and unfair and in the end there will be no winners. We all loose .. What do you think

Today I had a meeting with Rogers Park Community Development Corporation and shared "The State Of Real Estate in Rogers Park".

Rogers Park is located on the Northside of Chicago. Its boundaries are the Lakefront on the East, Ridge Avenue on the West, Devon Avenue South to just a little North of Howard on the North. Loyola University is located in Rogers Park.

Real Estate in Rogers Park consist of Single Family Homes, Condominiums, Townhomes and some Multi-Family 2 -4 unit buildings.

Prior to 2007 Rogers Park had a lot of buildings that were converted from rental to condominiums. As a result most of the real estate market was being supported by first time home buyers buying new construction condominiums.

The following data covers the Residential Real Estate Market in Rogers Park over the past 24 months.

I have included data for both Single Family Homes and Attached Homes which include condo and townhouse sales data.

As the data suggests there were fewer sales in the past 12 months for both Single Family and Attached homes in Rogers Park. This maybe the result of the First Time Home Buyer Tax Credit or just due to fewer qualified buyers or a combination of both.

When buyers were looking to buy they tended to look at pre-foreclosure short sales or foreclosures 21%-43% of the time.

Single Family Home prices actually appreciated 3% over the past 12 months while Attached homes depreciated in value 12% during the same period. Clearly the shear number of distressed Attached Home Sales was the main reason for this reduction.

The Real Estate Market in Rogers Park

The following data comes from the MLS. The author of this report makes no representation to the accuracy of the data provided by the MLS.

Join Rogers Park Community Leaders this Saturday September 11, 2010

Community leaders reach out to struggling condo and homeowners in Rogers Park.

( Chicago , IL ) - Condo and homeowners are invited to attend an informational workshop hosted by 49^th Ward Alderman Joe Moore on September 11, 2010 from 10:00 am-2:00 pm at the Rogers Park Library 6907 N. Clark Street, 2^nd floor.

The event will feature a presentation on How to Avoid Foreclosure given by local HUD-certified housing counseling agency Rogers Park Community Development Corporation. Immediately following the presentation, participants will have the opportunity to meet one on one with HUD- certified housing counselors. Volunteers from Legal Assistance Foundation, CEDA and Citizen's Utility Board will also be available.

Contact:

Caleb Sjoblom

Director

Rogers Park Community Development Corporation

773-262-2290 begin_of_the_skype_highlighting 773-262-2290 end_of_the_skype_highlighting x 13

www.rogersparkcdc.org

###

Heather Whiteford

Associate Director

Rogers Park Community Development Corporation

1411 W. Lunt

Chicago , IL 60626

Ph: 773-262-2290 begin_of_the_skype_highlighting 773-262-2290 end_of_the_skype_highlighting Ext. 12

Fax: 773-262-2537

www.rogersparkcdc.org

Eat, Play, Love Our Neighborhoods! http://www.explorechicago.org/city/en.html

Sorry Folks but I just got off the phone with a Bank who shall remain nameless and this is how I feel. We need to find people who care about others, like what they are doing, and find they are making a positive impact in their lives. Its just not working right now working these short sales.. Everyone is Apathetic from Sellers, Buyers, Agents, to Banks.

Apathy

calm indifference slowly takes root i can hear the cries of the people. they're dying... they're dying why are they dying? i don't know i don't care they're people. each sinned each sighed each loved each laughed but i can't seem to care for the people. i'm dying we're dying it feels we've not lived their cries as meaningless as silent my lips no smile no laugh not evil nor good such pointless end to futile existance worthless useless meaningless...