Excerpt --
The housing crisis has been hammering the economy and Citi's earnings all year, yet the company is only now figuring out that no one wins the foreclosure game any more. It's outrageous that it took Citi so long to figure out that it's more profitable to help homeowners stay in their homes and make payments than to abandon them and get next to nothing.
Comment - what I find interesting is that the story about Citi was on the front page of CNN this morning and now it isn't.
In fact - it isn't in the "last 24 hours" links either.
The news was...
Citigroup announced late Monday that it won't initiate a foreclosure or complete a foreclosure sale on any eligible borrower who seeks to stay in a home if it is the borrower's principal residence, the homeowner is working in good faith with Citi and has sufficient income to make affordable mortgage payments.
Citi said it is also working to expand the program to include mortgages the bank services but does not own.
Additionally, over the next six months, Citi plans to reach out to 500,000 homeowners who are not currently behind on their mortgage payments, but who are deemed as potentially needing assistance to keep current with their payments. This represents about one-third of all the mortgages that Citigroup owns, the bank said.
Citi plans to devote a team of 600 salespeople to assist the targeted borrowers by adjusting their rates, reducing principal, or increasing the term of the loan, steps known in the mortgage industry as a workout.
Of the four biggest U.S. banks -- Citigroup, JPMorgan Chase, Bank of America and Wells Fargo & Co. -- Citi has been on the shakiest footing as a result of the mortgage crisis, reporting losses in the past four consecutive quarters while its rivals have managed to post profits. The steps announced Monday are designed to stem those losses.
Sanjiv Das, chief executive of CitiMortgage, said, "It is in our interest that borrowers stay in their homes and actually make the payments."
Citi is targeting homeowners in geographic areas with higher-than-average unemployment and foreclosure rates, primarily in Arizona, California, Florida, Michigan, Ohio and Indiana.
NOTE THAT THEY DIDN'T MENTION ANYTHING ABOUT ILLINOIS.
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As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS! If you are thinking about buying / purchasing a home in the Chicago Illinois area, you will want to ensure that you have an agent that is on YOUR side – looking out for your best interests.
Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. SEE MORE TYPES OF PROPERTIES - including for-sale-by-owner, short-sale and foreclosure etc. We show ALL listings suiting your needs - from ANY Real Estate company.
If You Become our Client - We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side.... Best of All - You are Nothing Out of Pocket to Us For Our Services... Please Call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us at info@relocationadvisorsgroup.com to schedule a complimentary initial consultation.
If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:
Mortgage Rates Up Again - Not Great For Home Prices...
Long-term mortgage rates followed Treasury bond yields higher this week, bringing fixed-rate mortgages back up to levels seen two weeks ago.
As we all know - prices are inversely related to rates.... It won't be any easier for sellers to sell in the near term - unless
they reduce their prices even more.... Great for our buyer clients of course - but not so hot for sellers...
___________________________________________________________________________________________________________________________________
As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS! If you are thinking about buying / purchasing a home in the Chicago Illinois area, you will want to ensure that you have an agent that is on YOUR side – looking out for your best interests.
Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. SEE MORE TYPES OF PROPERTIES - including for-sale-by-owner, short-sale and foreclosure etc. We show ALL listings suiting your needs - from ANY Real Estate company.
If You Become our Client - We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side.... Best of All - You are Nothing Out of Pocket to Us For Our Services... Please Call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us at info@relocationadvisorsgroup.com to schedule a complimentary initial consultation.
If you have excellent credit and are thinking about buying a home in the Chicago Illinois area during the next 60-90 days:
Yesterday - the Fed lowered the Federal Funds Rate .50%, to 1.00%. Mortgage rates are still low, but unfortunately this .50% Fed rate cut today does not mean a .50% drop in 1st mortgage rates (..30 yr fixed). (IE - there is no direct correlation)
This Fed rate cut did, however, lower the Prime Rate from 4.50% to 4.00%. The Prime Rate is always 3% above the Federal Funds rate. The Prime Rate is the base rate for home equity lines of credit, credit cards, and other bank products.
IF YOU HAVE A HOME EQUITY LINE OF CREDIT, YOUR RATE JUST WENT DOWN .50%!
Consider consolidating any high interest credit card debt if you haven't done so already.
Your line of credit rate is now 4.00%(+/- margin), and the interest is tax deductible on your primary residence.
The rate cut put the central bank's federal funds rate at 1%. That matched the lowest level for this overnight bank lending rate ever -- the last time it was at 1% was from June 2003 to June 2004.
Investors had been expecting a half-point cut and some were betting that the Fed would even cut rates by three-quarters of a point to 0.75%.
The fed funds rate is used to set rates for a wide variety of consumer loans, including home equity lines and credit cards, as well as for many business loans. The lower the rate, the more the Fed hopes to spur economic activity.
This is the ninth time that the central bank has lowered rates since September 2007 in an effort to deal with the problems in the U.S. economy and credit markets.
The Fed's last cut was an emergency half-point reduction on Oct. 8. Six other central banks around the globe also lowered rates that day in a coordinated move.
Prices of existing homes in the United States fell by a record 9.5 percent in August as sales slowed, according to the National Association of Realtors.
While millions of homes still sit unwanted on the market, inventories of unsold homes shrank.
There are buyers out there now - sucking up some GREAT DEALS!
But despite having solid jobs, perfect credit scores and no debt,you can still have a hard time getting a loan from some lenders.
We know the local lenders that are still doing a good job at getting people to closing.... with great rates and fees.
Rates have actually dropped here - this past week - though they had spiked weeks earlier.....
Now more than ever the buyers are in the driver's seat - and now more than ever is a good time for buyers to use an
Exclusive Buyer Agent:
An Exclusive Buyer Agent, in a confidential relationship of trust, represents only buyers and never sellers in a transaction. The company never lists a seller's property and thus never has a seller as a client thus eliminating a common conflict of interest."
An Exclusve Buyer Agent (as contrasted to a "Buyer's Agent") --
EBAs don't list homes.
EBAs don't represent Sellers.
EBAs represent Buyers ONLY.
There is no point in waiting on the sidelines....You should be looking.... preparing yourself to jump on
something as rates drop..... We are expert negotiators. If you get an amazing price on something - getting down to "perfect timing" and hiting the "perfect bottom" is irrelevant. It has to be close - if it is not now...
We cover a number of counties - to include Lake County, McHenry County, Cook County, DuPage County, and Kane County.
___________________________________________________________________________________________________________________________________
As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS! If you are thinking about buying / purchasing a home in the Chicago Illinois area, you will want to ensure that you have an agent that is on YOUR side – looking out for your best interests.
Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. SEE MORE TYPES OF PROPERTIES - including for-sale-by-owner, short-sale and foreclosure etc. We show ALL listings suiting your needs - from ANY Real Estate company.
If You Become our Client - We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side.... Best of All - You are Nothing Out of Pocket to Us For Our Services... Please Call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us at info@relocationadvisorsgroup.com to schedule a complimentary initial consultation.
If you have excellent credit and are thinking about buying a home in the Chicago Illinois area during the next 60-90 days:
There are currently 177 Active Single Family Home Listings Currently in Buffalo Grove IL - From 225k to $950,000. 66 homes have "closed" in the past three months -- ranging from 192k to $866,000. The date you see here is the date they originally went under contract...The prices you see here are list price versus sale price.
1 CLSD Marquette 12 Buffalo Grove Lake 05/31/2008 65 $219,900 $192,400 2752
2 CLSD St. Marys 388 Buffalo Grove Cook 07/15/2008 43 $250,000 $230,000 3310
3 CLSD White Pine 657 Buffalo Grove Cook 07/30/2008 4 $236,500 $236,500 1572
4 CLSD Bernard 750 Buffalo Grove Cook 08/21/2008 178 $259,900 $250,000 21933
5 CLSD Frances 4 Buffalo Grove Cook 07/09/2008 242 $259,900 $255,000 Conventional 8256
6 CLSD Hollystone 950 Buffalo Grove Lake 05/21/2008 17 $274,900 $265,000 8103
7 CLSD Belmar 1051 Buffalo Grove Lake 06/14/2008 32 $298,900 $283,000 8869
8 CLSD Springside 330 Buffalo Grove Lake 06/09/2008 8 $299,900 $283,500 8090
9 CLSD Saxon 861 Buffalo Grove Cook 07/01/2008 70 $290,000 $285,000 21563
10 CLSD Whitehall 1085 Buffalo Grove Cook 07/04/2008 44 $299,900 $287,000 Conventional 8081
11 CLSD Farrington 690 Buffalo Grove Lake 06/20/2008 106 $299,500 $288,750 3110
12 CLSD Estate 524 Buffalo Grove Cook 07/29/2008 114 $329,900 $295,000 16936
13 CLSD Thornton 917 Buffalo Grove Cook 08/12/2008 118 $339,900 $307,500 4997
14 CLSD Weidner 141 Buffalo Grove Cook 08/20/2008 93 $323,750 $312,000 Conventional 2700
15 CLSD Knollwood 965 Buffalo Grove Lake 08/02/2008 12 $339,000 $313,000 2280
16 CLSD Mill Creek 1437 Buffalo Grove Cook 07/23/2008 447 $349,900 $315,000 8256
17 CLSD Stonebridge 792 Buffalo Grove Cook 07/21/2008 374 $349,900 $322,500 3150
18 CLSD Indian Spring 941 Buffalo Grove Lake 09/09/2008 40 $359,900 $325,000 Conventional 2648
19 CLSD Castlewood 520 Buffalo Grove Lake 05/21/2008 8 $349,900 $327,000 2648
20 CLSD Essington 810 Buffalo Grove Lake 07/07/2008 131 $339,900 $330,000 3014
21 CLSD Weidner 274 Buffalo Grove Cook 08/04/2008 364 $345,500 $330,000 Conventional, FHA, VA 10115
22 CLSD Fox Hill 31 Buffalo Grove Lake 07/29/2008 440 $369,000 $333,000 Conventional, FHA, VA 2280
23 CLSD Carriageway 595 Buffalo Grove Cook 07/14/2008 29 $350,000 $340,000 Conventional, FHA, VA 3754
24 CLSD Crofton 1100 Buffalo Grove Cook 07/12/2008 157 $384,900 $340,000 Conventional 1314
25 CLSD Wyngate 630 Buffalo Grove Lake 05/28/2008 111 $364,900 $344,000 3930
26 CLSD Weidner 502 Buffalo Grove Cook 06/17/2008 72 $364,900 $345,000 2648
27 CLSD Country 951 Buffalo Grove Cook 07/31/2008 86 $364,500 $345,000 8090
28 CLSD Springside 431 Buffalo Grove Lake 07/13/2008 38 $364,900 $348,000 3640
29 CLSD Silver Rock 770 Buffalo Grove Lake 06/11/2008 461 $359,700 $350,000 3640
30 CLSD Horatio 113 Buffalo Grove Lake 06/17/2008 134 $369,000 $355,000 23742
31 CLSD Burnt Ember 511 Buffalo Grove Lake 06/16/2008 256 $374,500 $360,000 3110
32 CLSD Shady Grove 670 Buffalo Grove Lake 06/23/2008 18 $399,000 $365,000 7032
33 CLSD Regent 384 Buffalo Grove Cook 07/22/2008 8 $375,000 $369,000 8090
34 CLSD Cambridge 871 Buffalo Grove Cook 06/17/2008 75 $399,900 $370,000 2030
35 CLSD Highland Grove 680 Buffalo Grove Lake 07/15/2008 106 $398,000 $370,000 8094
36 CLSD Longwood 6 Buffalo Grove Cook 06/28/2008 55 $399,900 $371,500 Conventional, FHA, VA, Cash Only 8103
37 CLSD Dayton 1214 Buffalo Grove Lake 06/28/2008 76 $399,900 $374,750 8103
38 CLSD Buckthorn 620 Buffalo Grove Lake 06/09/2008 63 $399,800 $375,000 Conventional 8012
39 CLSD Knight Hill 9 Buffalo Grove Lake 05/27/2008 15 $414,900 $382,000 1734
40 CLSD Shambliss 874 Buffalo Grove Lake 07/09/2008 94 $429,000 $400,000 6286
41 CLSD Providence 940 Buffalo Grove Lake 08/23/2008 89 $437,900 $410,000 Conventional 8103
42 CLSD Rose Ct East 1325 Buffalo Grove Cook 08/05/2008 112 $424,900 $412,000 Conventional, FHA, VA 8059
43 CLSD Indian Spring 721 Buffalo Grove Lake 06/23/2008 84 $439,000 $417,500 Conventional, FHA 3640
44 CLSD Parkchester 455 Buffalo Grove Lake 06/26/2008 46 $459,900 $425,000 Conventional, FHA 8118
45 CLSD Ronnie 433 Buffalo Grove Lake 07/12/2008 54 $450,000 $436,000 3884
46 CLSD Green Knolls 1339 Buffalo Grove Lake 06/24/2008 463 $499,900 $440,000 8465
47 CLSD Avalon 2266 Buffalo Grove Lake 06/01/2008 32 $499,000 $465,000 18724
48 CLSD Madison 1402 Buffalo Grove Lake 06/24/2008 16 $484,900 $469,900 Conventional, FHA 3910
49 CLSD Longridge 23 Buffalo Grove Lake 08/18/2008 134 $525,000 $499,000 3479
50 CLSD Quaker Hollow 1502 Buffalo Grove Lake 08/05/2008 85 $515,000 $500,000 16859
51 CLSD Raintree 619 Buffalo Grove Lake 07/27/2008 171 $549,000 $512,500 3104
52 CLSD Newfield 103 Buffalo Grove Lake 05/12/2008 42 $554,000 $533,000 Conventional 2752
53 CLSD Avalon 2207 Buffalo Grove Lake 06/03/2008 109 $574,900 $540,000 Conventional, Cash Only 2142
54 CLSD Whispering Oaks 2741 Buffalo Grove Lake 09/08/2008 185 $569,000 $547,500 Conventional 8103
55 CLSD Thorndale 479 Buffalo Grove Lake 07/07/2008 124 $599,999 $565,000 8103
56 CLSD Miramar 2209 Buffalo Grove Lake 08/27/2008 23 $629,000 $575,000 6267
57 CLSD Whispering Oaks 2750 Buffalo Grove Lake 05/26/2008 23 $639,000 $618,000 3811
58 CLSD Overview 2491 Buffalo Grove Lake 07/01/2008 208 $689,900 $650,000
59 CLSD Blackthorn 270 Buffalo Grove Lake 06/09/2008 18 $699,888 $675,000 2000 8118
60 CLSD Sheridan 2095 Buffalo Grove Lake 06/07/2008 47 $729,900 $678,000 Conventional 16324
61 CLSD Indian Creek 3250 Buffalo Grove Lake 07/24/2008 10 $719,000 $680,000 Conventional 2700
62 CLSD Sheridan 2099 Buffalo Grove Lake 05/22/2008 311 $729,000 $694,000 3600
63 CLSD Overview 2481 Buffalo Grove Lake 07/17/2008 116 $779,800 $720,000
64 CLSD Blue Ash 390 Buffalo Grove Lake 04/06/2008 6 $829,000 $805,000 3910
65 CLSD Kingston 2940 Buffalo Grove Lake 06/10/2008 5 $850,000 $825,000 Conventional 8002
66 CLSD Joseph 1673 Buffalo Grove Lake 03/05/2008 280 $858,990 $866,224 8256
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We provide expert research and negotiation for home buyers and investors in the Chicago area. Unlike traditional Real Estate agents - we are specialists -- always 100% on the buyer's side.... making us unique. If you are thinking about buying / purchasing a home in the Chicago Illinois area, you will want to ensure that you have an agent that is on YOUR side – looking out for your best interests. We are in the home buyer's corner - working for you - on your side - exclusively. As buyer / investor specialists - not generalists (agents who represent both sides)- we are very good at helping you land the best possible purchase price in the current "buyers market" Did you know that (In Illinois) - if you hire a so-called "Buyer's Agent" - they can be on the seller's side as well - during your transaction? -- Sad but true.... Most consumers are totally unaware of this... (It is called "dual agency" -- not a good thing for you - the buyer.) Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We are always on your side. That makes us unique.
We never represent the seller....
We are called "Exclusive Buyer Agents" because we Exclusively Represent The Buyer
Like a Heart surgeon - We Are Specialists. (As Such - We Are Very Good at Getting Great Results / Outcomes.....Unlike Typical Agents - We Are Not "Salespeople")
If You Become our Client - We Tell You About the Negatives of a Home - Not Just the Positives.... You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side.... Best of All - You are Nothing Out of Pocket to Us For Our Services... Please Call 847-566-7558 or Toll Free at 866-493-2842 or e-mail us at info@relocationadvisorsgroup.com to schedule a complimentary initial consultation.
If you have excellent credit and are thinking about buying a home in the Chicago Illinois area during the next 60-90 days:
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Are you buying a $250,000-$9,000,000 Home in the Chicago area within 90 days? Then you need to meet with us to compare the difference. Call 847-566-7558 or e-mail info@relocationadvisorsgroup.com
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