Chicago Foreclosure Trends for October 2014

In October, the number of properties that received a foreclosure filing in Chicago, IL was 9% higher than the previous month and 22% lower than the same time last year, according to RealtyTrac.com.

Chicago Foreclosure Activity

In October, the number of Auctions increased 17.0% from the previous month and 2.9% from the previous year. Bank-owned properties increased 2.67.5% from the previous month and dropped 36.2% from the previous year. Pre-foreclosures increased 4.3% from the previous month and dropped 32.1% from the previous year.

chicago foreclosure
Chicago Foreclosure Geographical Comparison

Chicago foreclosures were 0.05% higher than national statistics, the same as Illinois figures, and 0.04% lower than Cook County numbers in October.

chicago foreclosure

Chicago Foreclosure Status

The current distribution of foreclosures based on the number of active foreclosure homes in Chicago.

In October, Pre-foreclosures accounted for 37.6% of the foreclosures activity, Auctions accounted for 41.0%, and Bank-owned properties 21.4%.

chicago foreclosure

 Are you or someone you know behind on mortgage payments? There are options to Chicago foreclosures. A short sale may be the answer to saving you, your family and your credit. Contact us for a private consultation. We can help!

MAKING A POSITIVE DIFFERENCE IN PEOPLE’S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties
2951 North Lincoln Avenue
Chicago IL 60657
Toll Free: (866) 404-3585 Fax: (773) 938-1467  Send An Email

We know Chicago Real Estate!  Call us today!

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: