The good news is that the Illinois Association of Realtors said Wednesday that sales picked up statewide for the fifth consecutive month. The bad news is they were 17 percent off the pace of June 2006. The worse news is that in Chicago sales were down nearly 20 percent from June 2006. June is historically one of the best months in Chicago sales.

So, what's one to do? Well marketed, well located, unique and absolutely "move-in-ready" properties are selling but only if the price is absolutely right for the times. Everything else is languishing.

So my friends, only motivated sellers have any business selling in this market. If you're not motivated, I recommend staying put for a couple of years or renting your place out. Keep in mind, market rents may not cover your monthly costs but if it's close and you don't mind being a land lord then it's a good option.