Government Foreclosures. Foreclosed Homes, Properties & Real Estate Auctions

Illinois Foreclosures

Springfield, IL Foreclosure Listings and Properties

Springfield foreclosure listings and properties have served to arouse the interest of both real estate investors as well as several first-time prospective homebuyers. As per the latest figures at the time of posting this report, there were 302 government foreclosed properties to be auctioned soon, and their median listed price was $68,000. Springfield real estate sector is dominated by a few reputed agents, trusted for their expertise and fairness. Jim Maloof, Charles Robbins, and Jim Fulgenzi count among such agents. An agent can prove a helpful guide and a vital ally in your search for your dream home. You have no reason not to avail yourself of the professional services of a reliable agent. In view of the fact that the agent gets his commission from the seller, hiring his services is no dent in your wallet!

Government Foreclosures Boom in Springfield

Springfield is the capital of the US state of Illinois and the county seat of Sangamon County. The Springfield Metropolitan Statistical Area includes the adjacent Menard County too. The most important and prominent past resident of Springfield has been Abraham Lincoln, who lived in Springfield itself from 1837 until 1861. Springfield is famous for its food. It is also a popular site for such performing arts as ballet, jazz and an annual carillon festival. The 11 separately designated neighborhoods of Springfield include: Eastside, Enos Park, Hawthorne Place, Historic West Side, Lincoln Park, Near South, Oak Ridge, Shalom, Springfield Lakeshore, Twin Lakes and Vinegar Hill neighborhoods. Bike lanes link Springfield with its suburbs of Chatham and Rochester.

Springfield government foreclosures are in keeping with the rising trend perceived all over the US. Government foreclosures have been growing steadily, from 1 million in 2006, about 1.5-2 million in 2007, to already a million-plus in 2008. While this wave represents misery for the dispossessed owners, it also presents prospective homebuyers with a rare business opportunity to get luxurious homes in desirable colonies at a mere fraction of their current market tags. No wonder, people are queuing up at the property auctions with gusto. The recent legislation providing for a federal interest-free grant of $7,500 to first-time buyers of homes has lent a further shot in the arm to house-buying activity at the foreclosure auctions.

Internet: Real Estate Information Mine

Springfield’s forthcoming real estate listings auctions are advertised in the newspapers at least thrice in the newspapers by the auctioneers, with the first advertisement legally mandated to appear at least 20 days before the scheduled date of auction. Besides, there are several websites on the internet from which you can glean the latest news, developments and trends pertaining to the foreclosure auctions in Springfield on a routine basis. Some websites are updated as often as thrice every day! You can also access a variety of articles relevant to the government foreclosures, and get several practical tips on how to conduct yourself at the property auctions for making a truly lucrative deal. According to the National Association of Realtors, 80 percent of house-hunters flock to the internet as their prime source of information in these times.

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