How's The North West Chicago Market Doing in 2010?

Looks like the market has picked up some from it's year over year being 12 months. IL is still upside down as a whole, the North West Chicago area including Lake County and Dupage County had units sold of 297775 compared to previous 12 months of is fairing much better with sales in the last 12 months up from the previous 12 months of 41399. A significant increase signaling the bottom is near.The good news is that the price drops are slowing way down from last year. The normal winter cycle is now in affect. Even with the cold weather, President Obamas Tax credit of 10% of the purchase price up to $8,000 is expected to keep the real estate housing market robust for home buyers for a second time in the last 12 months.Foreclosed homes aren't what they were 3 years ago. Most people assume that they are trashed out handyman specials or worst.
Hud is will raise the minimum down payment required to 5% due to skyrocketing foreclosure rates and they are also expected to raise the interest rate well above 5.5%. With FHA limits raised to $410,000 in Cook County all you need to have is a qualifing income and at least a 620 credit score and no bankrupcy in the last 7 years.

Today they come is all shapes, sizes and many are in spectacular shape, the following is an example of one.