Earlier today I was reading a recent article on the Illinois real estate market, I came across Realty Trac's data indicating Illinois was ranked 8th amongst the top 10 states with the highest foreclosure rates.
Sure doesn't feel good to be ranked so highly! Just think if it was NCAA college basketball, a team would be elated to be in the Top 10...but not this ranking.
Despite the foreclosure news, Illinois experienced an increase in statewide real estate home sales in November compared to the prior year. Yet, the price declined almost as much as the volume increased....not good.
Well, a new year is soon upon us and hopefully brings gifts of a recovering real estate market.
Michael Hobbs, PahRoo Appraisal & Consultancy