Here are the Illinois Foreclosure Stats as of March 2011
Just sold 2 recently. One in Aurora in perfect condition for a homeowner to occupy. The other in Bolingbrook as a rehab that has huge potential to rent or resell at a profit. Currently it is estimated by Data Quick that on average 33% of homebuyers are now cash buyers. This means they are investors who buy low and sell high. If investors realize it is the right time to buy shouldn’t you if your ready?
Chart of foreclosures in Illinois area
Banks are careful to only release a few foreclosures at a time as to not flood the market and devalue other homes.