Tuesday Quick Takes: Zombies and new mortgage statements

Zombies in real estate: Not just for Hollywood anymore

They once were at the cutting edge of the housing boom. Now the model homes sit vacant as the housing market begins a recovery. So-called “zombie” subdivisions sprang up in areas where the real estate market was particularly overheated, particularly in the south and southwest. STLToday has an article that mentions one such development in Caseyville.

Court program assisting southern Illinois homeowners

A southern Illinois court program is helping homeowners stay in their homes. So far the Madison County Foreclosure Mediation has helped 19 people. It’s only the third one in operation in the state, and the only one in the southern part of Illinois, according to Suburban Journals. A panel of 12 people reviews cases and helps facilitate mediation between lenders and homeowners who are having trouble making payments.

Chicago agent named Coldwell Banker’s best

Patti Furman

Chicago area real estate agent Patti Furman has been named No. 1 Sales Associate in North America in Total Units for 2011 by Coldwell Banker, according to Chicago Agent Magazine.

According to the article, she sold 375 units and generated $44.5 million in sales last year. She works at Glenview Coldwell Banker, where she’s been since 1993. She’ll be honored later at a company meeting.

New mortgage statements on the way? 

The Consumer Financial Protection Bureau will disclose this week what it says should be the standard for mortgage statements. The new format would include clear disclosures on feed, interest rate changes and other information. Chicago Tribune.

State economic report out

Take a look at the State of Illinois Forecast Report, which has just been released. It’s chock full of economic data and projections for industry and real estate.

Elsewhere

Foreclosures down: Fewer homes going into foreclosure in LaSalle County. News Tribune.

Cheaper housing: Home affordability at record levels, according to Chicago Agent Magazine.

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About Jon Broadbooks

Jon Broadbooks is Vice President/Communications for Illinois REALTORS®. He serves as editor of online and print content for the association’s communications including the Illinois REALTOR® magazine and e-newsletters. He conducts spokesperson training seminars and oversees website development for the Association.

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