Real Estate wrap-up for the week ending January 16
January 16th, 2009 | 
Author: Cook County foreclosures jumped 84% in December
Ugh. Home foreclosures jumped 84% in December from one month earlier and up 24% from a year earlier. One in every 300 homes in Cook County is now in foreclosure. More sobering stats: there were 115,063 foreclosure filings statewide, a 54% increase from 2007 and a 126% increase from 2006.
U.S. will aid cities in housing crisis
Chicago will receive more than $55-million from the federal government to buy and fix foreclosed homes in some neighborhoods to revitalize neighborhoods wrecked by the housing crisis. Of the 25 neighborhoods targeted by the city, most are on the South and West sides.
The only city to reveive more money than Chicago was Miami-Dade County, which was granted $62.2-million.
Repositioning is the key to securing a sale
A term once used sparingly by real estate insiders, repositioning has increasingly entered the American lexicon as the housing market captures headlines. No longer can Chicagoland sellers ignore the market’s tumult. To secure a deal, today’s home sellers must be realistic, responsive and open to repositioning.
Posted in 
