A recent article in the Chicago Tribune highlighted Bairdwarner.com's new Foreclosure Search tool and also quoted B&W VP of Strategic Development John D'Ambrogio.
For every 10 homes sold within the city, however, four were distressed properties. Once dismissed as unseemly, foreclosures are becoming more commonplace, and their bargain prices are causing a ripple throughout the market.
"Five years ago, foreclosures were a little stigmatized, and they weren't representative of what's out there," John D'Ambrogio said in the article. "Now you have foreclosures that are $1 million, and they're nice properties. They don't have damage to them. They're the new normal."