Does National Foreclosure data have real value?

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National foreclosure data was released this week by RealtyTrak  (Link to realtytrak.com  or specifically to  http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309 ).  I was in California at the time, and the news coverage was upbeat.  The report showed that there were nearly 14% less foreclosure filings in 2010 than in 2009.  Wow!  However here in Illinois data was the opposite, with just over a 15% increase in filings last year.  Here’s how the numbers looked – of 2.9 million foreclosures nationwide (up 1.7% from 2009), California had 546,669 filings while Illinois had 151,304.  According to their calculations this represents 4.08% of the housing units in CA, and 2.87% of the IL units.  According to my calculations California accounts for 20% of the filings in the Nation, with 5% in Illinois.  That’s reason to celebrate!?

Closings in Bucktown/Wicker Park in the last two weeks***:

5 Detached Single Family Homes (market time 1 -237 days, average 148 days, Average sold price of $1,109,200 is 91.5% of final list price) and 9 Attached Homes (market time 4 – 421 days, average 110 days, Average sold price of $352,733 is 92.1% of final list price)

1816 W Cortland 4bed 3½ bath house $790,000

1865 N Hoyne 4bed 3½ bath house $1,000,000

2112 W Charleston 5bed 3 bath house $1,070,000

1908 W Cortland 4bed 4 ½ bath house $1,225,000

1757 N Hermitage 4bed 2 ½ bath house $1,461,000

2233 W Shakespeare #3F 1 bed 1 bath Condo $170,000

1400 N Milwaukee #401 1 bed 1 bath Condo-Loft with garage $170,000 (Short Sale)

1240 N Paulina #3 2 bed 1bath Condo with parking $200,000 (Short Sale)

1728 N Damen #308 1bed 1 ½ bath Condo with parking $280,000

2251 W St. Paul #4G 2 bed 2 ½ bath Condo-Loft, Penthouse with garage $357,500

1728 N Damen #111 3bed 2 ½ bath 1/2 Duplex, Condo-Loft with parking $378,000

1332 N Wolcott #1 3bed 2 ½ bath Condo with garage $405,000

1931 N Damen #1S 3bed 2 1/2 bath Duplex Condo with Garage $478,000

1744 W Beach #2 3bed 2 ½ bath Duplex Condo with Garage $485,000

If you’d like more information on properties currently on the market or selling your home just drop me a note