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Chicago Foreclosure Investment Highlights For August 8-12, 2011

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For a number of clients of Cherry Picker Investments, parcels of real estate in Gurnee, Evergreen Park, Elk Grove Village, Glendale Heights, Chicago, Midway, Edgewater, and Grand Crossing were acquired at foreclosure auctions in Cook, Lake and Dupage Counties which are sure to improve their overall profitability.

Cherry Picker Investments has a proprietary database which identifies all distressed properties in the metro Chicago areas, including Cook County, Lake County, Dupage County, Kendall County, Kane County, McHenry County and Will County.  Specifically, because these properties are distressed (notice of foreclosure has been filed), most of them eventually end up at a foreclosure auction.  Due to the huge backlog of foreclosure cases, the immense volume of data to track, as well as the unseemingly never-ending judicial process of foreclosure in Illinois, Cherry Picker Investment clients benefit by sorting through all of the clutter to identify the best real estate that meets their investment criteria to bid on and own.

If these properties had not been purchased at the foreclosure auctions, then the properties would have gone back to the bank / lender and become bank-owned properties.  These properties are not short-sales and they are not deed-in-lieu of foreclosure situations.  Once the property is returned to the bank / lender, then the property typically gets listed by the bank's designated Realtor(s) as an REO / Bank-owned MLS listing.

For those real estate investors who are ready, willing and able to strike while the opportunities are profitable, foreclosure buying is an excellent strategy to employ alongside working with an experienced Realtor for properties they find on the MLS, (such as short sale, bank-owned, and estate sales).  Given the challenging and competitive nature of finding great investment opportunities, and the cumbersome and meticulous process of sorting through so much information, Cherry Picker Investments consistently provides the competitive edge that investors need to be successful in foreclosure buying and investing.

"Although the activity was lighter this past week the purchase prices were appealing.  We expect an increase in activity as the number of cases from Robo-signing resume their path of foreclosure now that many of the wrinkles have apparently been sorted out," said Bardan Azari, Cherry Picker Investments.

 

Foreclosure Investing Success in Illinois for August 8 to August 12,  2011

Week Ending Aug 12th:
4835 S. Marshfield
153 Fullerton, Glendale Hts
2469 W. Balmoral
6941 Morgan, Gurnee
1637 N. Spaulding
9305 Sacramento, Evergreen Park
1075 Florida, Elk Grove Village
5834 N. Saint Louis

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