Most of the population in Illinois is found in the northern region of the state. Winters are colder up there, but the economy, history, and natural beauty of northern Illinois are attractive enough to draw more residents every year. Even outside of Chicago, residents have a wide variety of activities to choose from. Some people enjoy the small town feel and look of historic districts like Long Grove and Galena. The shops and restaurants in these towns are fun to visit not only because of their wares and menus but because of the settings that the towns create with nineteenth century buildings and covered bridges.

The most beautiful attractions in the region are the natural parks and gardens. There are 18 canyons waiting to be explored in Starved Rock State Park and hikers will also be able to enjoy the beauty of lush forests and several different waterfalls. Anderson’s Japanese gardens, the Chicago botanical gardens and the Morton Arboretum also display hundreds of acres covered with gardens, waterfalls and wildlife. With so many attractions in the area, it isn’t surprising that northern Illinois real estate continues to be in high-demand. Unless you have the time and money to make several trips to the area while you are searching for a new home, it would probably be wise to hire an Illinois realtor to help you find which homes are available. A realtor can also give you valuable information on the best school systems, neighborhood appreciation trends and the true market value of any real estate that you are interested in. If you want to negotiate with buyers, a realtor can also help point out ways to strengthen your arguments. In a competitive market like northern Illinois, having a realtor will also make you seem like a serious and trustworthy buyer to the people who are looking to sell their homes.

In common with cities nationwide, the growth in foreclosures in Illinois state has always been greater among the lower priced property; more so in 2007 as the impact of adjustable rate mortgages extended in the last few years to home owners who did not have deposits or credit standing to qualify for prime 30 year loans has hit hard. Of the monthly rate of new foreclosure filings has reached 6,000 state wide, just over half have been in the Chicagoland area, more than 75% have adjustable rate mortgages. With the overall real estate market in the doldrums homeowners in pre foreclosure have found their opportunities for selling their homes become very limited and falling prices have resulted in the loss of any equity, making refinancing impossible for many.

The housing market is not so obviously in favor of the buyer outside the Chicago metro area. Just 20 miles away the young village community of Woodridge is known to keen golfers and an outstanding school system attracts young families. The average price of a single family home at $328,000 is daunting to first time home buyers, who may be able finance and bear the monthly payment schedule of the discounted value foreclosure home. South Elgin has a train commute link to Chicago, and a growing reputation for sound government, an outstanding environment attracting new residents every year. Libertyville with its strong rural character and historic district is yet another sought after location within commute distance of Chicago, and has affordable homes in polder areas of town; a foreclosure deal will make that extra- affordable!