We did it. We saved the day…or at least the day-light! We fell back an hour this past weekend and now Chicagoans can use that extra time to peruse local foreclosed properties. And there’s a lot to see. Last week continued the recovery we saw the third week in October, as the market continues to rebound after a particularly bad week earlier in the month. Still, the number of properties sold to investors during the last week of October helped the month finish strong, with 107 new properties claimed.
One county that saw a lot of action last week was Will County. Will County’s foreclosure landscape has been improving greatly over the last few months. Almost every week has brought an increase in new properties selling to investors for the county to the south west and this week was no different. Gaining four new sales, Will County sold 19 properties to investors, which is more than double the sales it had halfway through the month. In a short time, Will has really seen a significant turnaround.
No Chicago foreclosure listing would be complete without an update on bank owned properties. There was a slight rise in foreclosed properties becoming REO properties; last week there were 585 Chicago bank owned properties and this week that number has increased to 602.
As November begins, Chicago foreclosures are in a good place. Go out and enjoy the extra hour of sun this week and when it’s time to come back inside, keep an eye on the Illinois Foreclosure Listing Service as we continue to update you on everything you need to know about foreclosures in Chicago.