Shocking Chicago Illinois Foreclosure Numbers

Home owners, if you think you are alone..think again! Here is a startling report I put together this morning.

I thought it would be a good idea to update this every month so we can watch the trends and hopefully realize when this cycle will come to an end. (Which by the way I don't think will be for at least another year) but that's just my opinion.

Brokers and agents....WAKE UP!! Get with the times..I am sooooo tired of hearing agents tell me they are taking jobs at Starbucks or Lowes, etc because they can't survive in this market. OMG..look at the number of foreclosed homes that could have been saved if only an agent had helped them with a short sale!

The trouble is over 70% of you agents have no idea what a short sale is! Just yesterday I went and took a short sale listing because my now client had interviewed 6 agents and 1 Broker Owner and NONE, ZIP, ZERO, NADA, even knew how to list a short sale. 3 of them..all from Major franchises had NO CLUE as to what a Short Sale even was! Get some training folks..the market has changed and so should your techniques! There are thousands of people you could be helping right here in our own back yard!

Startling facts here people.....if you take the number of foreclosures divided by the number of listings in our MLS we are at a average 74% foreclosure rate!!! OUCH!

Note these are all factual numbers but all of the foreclosures here are NOT currently listed on the MLS so this is just a dramatization. But I know from experience that the numbers for our County are very close to reality.

This information was compiled from information I obtained through, HUD, Landvoice, Realty Trac and our MLS.

Posted by Vicki Watzlawick, Broker Owner, Short Sale Expert, Exit Platinum Realty, 847-854-3800 www.vickisdreamhomes.com