Wow, the amount of home closings in Plainfield IL for October was HUGE!  The first time home buyer tax credit has done an incredible job of sparring the housing market in Plainfield IL.

The 4,988 home closings in Plainfield IL in October 2009 was nearly double the amount of closings in September, which had 2,541 single family sales!  Typically homes sales slow after Labor Day and these numbers are an indication that this tax buyers credit is working.

Of course a credit to the public always become a tax on the people, but until we find a way to fix the housing mess, I guess we need to take it where we can get it.

I’m extremely surprised, as someone in the industry, that the government is focusing more heavily on Healthcare Reform, than trying to undue the damage that was done when the government decided to allow buyers to purchase homes with no money down, and to allow homeowners to take out loans and over finance their homes.

For now, things seem to be moving along, but with the growing numbers in unemployment I don’t see this as a permanent fix to the housing market.  I just hope the government isn’t putting all of it’s eggs in one basket…

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-6233

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Unfortunately the condition of most bank owned homes is decreasing property values much faster than the short sale homes have in the past.  I  believe there are 2 key reasons for this:

 

1. Bank owned homes sit vacant longer than homes sold through short sales which leave a bigger window for damage, vandalism, and mold to develop thus making the discount that a buyer demands much larger.
2. Many homeowners are stripping their own homes down to the floor boards once they make the decision to walk away from their homes.

The neighbor who once lived next to me took the furnace, appliances, and before he left broke all of the wood railings on the stairway and in the loft.  Another neighbor took all of the copper pipes, cabinetry, and even the air conditioner. 

The part about this that is most upsetting is that the homeowners who leave their homes in this condition destroy the value of their neighbors homes with these actions.  There are many components to this housing disaster, but if everyone acted responsibly for their part in the situation, we’d be able to clean up this mess much faster than the government ever could.

Homeowners in foreclosure need to act proactively to list their homes for sale and negotiate with their lenders to sell their home before the auction date.   I specialize in short sale listings in Plainfield IL, Shorewood, Romeoville, Bolingbrook, and Naperville.  With the help of a professional short sale negotiator, sellers have nothing to lose by trying to sell their homes before they end up back in the banks hands.

The upside to negotiating a short sale is that homeowners who decrease the discrepancy between what they owe and what the bank receives through the sale of the home at auction will be less money that is filed against them in a deficiency judgment.  Many times a judgment against the homeowner can be avoided completely with the help of a negotiator.

If you own a home in foreclosure in Plainfield IL , Bolingbrook, Shorewood, Romeoville, or Naperville call at me 630-673-6233 about listing your home for sale.  I work with a negotiator that can help you avoid a foreclosure, while I manage the sale and marketing of your property, all at no cost to you.

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-6233

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