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Cook County Foreclosure Listings

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Bank Foreclosures in Cook

Cook County is a huge metropolis that is home to highly educated, high income-earning families, as well as middle class, median income families. A third of the population have bachelor's degrees or higher and are employed in various vocations. The average household income is around $66,000. With such a large population of high income-earning professionals, one would not expect such a high foreclosure rate. However, there are 43,000 foreclosure listings in Cook county. As large as that number seems, one should take into account the county's population of over 5 million. There are many attractive homes that are bank foreclosures. Since banks are not really set up to own homes, they are more motivated to sell so these properties at a desirable price to buyers. While many of these homes have a set price, the banks are willing to entertain any reasonable offer.

Currently home values are declining, and decreased at over 12% in the last year. Because of the declining market rates of homes, several properties have recently sold for less than $15 per square foot. With so many properties currently available, buyers can pick and choose a home.

Currently, Cook County's job growth rate is just over 3%, meaning that there are new job opportunities for individuals looking to relocate. While there are quite a few highly educated corporate ladder climbing residents, Cook County is also family friendly. With several churches and schools (grammar, high school and colleges) to choose from, this community is a welcome territory for families.

With many homes of several types from apartments and condos, to single family homes available, Cook County is a setting for residents of all types. From married to single, to mid-level to high income professionals, this province offers diversity in people, along with a wide variety of employment in many different professions. Since home values are on the decline in the area, now would be a good time to think about purchasing a home in Cook County. With the great prices on homes and the culture and art this area has to offer, Cook County is definitely a great place for a new beginning.