Skokie foreclosures are up but not a crisis

Last year there were 173 foreclosures in Skokie compared to 90 in 2006. Terry Oline, Skokie Property Standards Supervisor, says that's unheard of but would not call it a crisis. Home sales are still out-pacing foreclosures by almost 2 to 1 and there hasn't been a big problem with "vacant foreclosures" that have been seen in other communities where homes are abandoned and neglected. Oline, who has been working for the village since 1995, believes the problem is partially cyclical. Skokie saw a boom of new development (especially condominiums) in 2004 - 2006 and there was bound to be a small turnaround.