Chicago-Area Home Price Values Get Boost with New Math
According to CoreLogic, home prices in Chicago appeared stable in February. However, this calculation only included traditional sales and not distressed-sale properties. When the sale of REO or foreclosed homes is included, this same market area experienced a 10.4 percent decrease in prices. One legislator is taking this shift in calculation one step further by promoting the idea that foreclosure sales prices be excluded during appraisals. Read the full article.
SOURCE: Chicago Tribune, 4/8/11