Things are not as terrible in the real estate market as the national and Chicagoland news media make it out to be.

When national and Chicagoland statistics are given, they don't reflect what's happening particularly, for example, in Palatine or Arlington Heights.

Real Estate is always limited.

There are areas around Chicago that are actually hurting. in a tough economy, everything pulls in. Those areas, of course, are averaged into the overall Chicagoland data.

As of June 1st, mortgage financier Fannie Mae began requiring a least down payment of 3 to 5 percent on all loans it guarantees for single-family, owner-occupied properties.

That's down from 20 percent. That's massive!

Buyers need to have good praise, as they always should have. Since most first-time buyers usually don't have 20 percent to put down, this new change should dramatically help more first-time buyers to buy.

This in turn will assist the "move-up" buyer to sell his home, so that he can move up.

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