Plainfield, Naperville IL. Real Estate - 99.8% of U.S. Households NOT in Forclosure - Amazing but True!

Just a note on perspective for some of the foreclosure news you are seeing.

Is it rough out there? Well consider this, in a news article today, there are apparently frightening numbers on forclosure rates - " U.S. Foreclosures Jump 57%" . Awful state of affairs - right? How about this headline for the same article - "99.8% of U.S. Households NOT in Forclosure" Amazing? Can't be true? Check the math.

Use the numbers provided in the article - "More than 234,000 properties were in some stage of foreclosure, or one in every 538 U.S. households... ". Pull out your calculator and work out the percentage - .001859 or .1859% (1 divided by 538). Yep - that is LESS than two-tenths of one percent.

Well that is the This is not to diminish the real pain and financial peril faced by tens of thousands of homeowners in or facing foreclosure. There is a serious financial and market correction underway in housing and the broader economy. But it is not the end of the world. If you really want to see what a crisis is all about check the numbers from the Great Depression. Nearly 1 in 10 owners was in foreclosure in 1932 and 1933.

In 2008 there is no doubt we face a tough and challenging market. Is success still possible? YES. It will take very consistent, very focused, and very hard work to produce results. You CAN do this! But not if you let the headlines drag you down.

About the author:

Cheryl Bowers is a Naperville, Plainfield Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Naperville IL., Plainfield IL., or any place in the country. Cheryl has created a team of professionals throughout the Plainfield, Naperville IL. area and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.CherylBowers.com for your real estate needs. Please give me a call if you have questions about the Naperville, Plainfield IL. Area real estate market.

Cheryl Bowers, REALTOR® 630-712-1921

Posted Tuesday Apr 15