How Long Does a Foreclosure Take in Illinois?

Much longer than in 2007, which isn’t good news for solvent sellers

567

That’s the average number of days it took to wrap up a home foreclosure in Illinois at the end of 2011, according to Realty Trac. (In the first quarter of 2007, it took only 243 days.) That’s not good news for solvent sellers, who face an extended time competing against that inventory of distressed properties, which can bring down neighboring sale prices. Learn more about foreclosures in your ZIP Code at realtytrac.com/trendcenter.

SEE ALSO: Expert tips on buying a foreclosed condo in today’s market

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