The most recent home sale closings in the Wesmere Subdivision in Plainfield IL are:

2010 Closings:

• 5826 Emerald Pointe Dr. closed on 2/4/10 for $155,000 as a short sale
• 2216 Preston Lakes Ct. closed on 1/29/20 for $185,000 as a short sale

 2009 Closings:

• 1702 Whispering Oaks Dr. closed on 1/29/09 for $120,000
• 1711 Heritage Pointe Dr. closed on 11/16/09 for $107,500 as a foreclosure
• 5915 Arbor Gate Dr. closed on 06/26/09 for $124,500 as a foreclosure
• 2208 Portside Lakes Ct. closed on 4/24/09 for $135,000 as a foreclosure
• 5914 Glass Pointe Ct. closed on 10/21/09 for $140,000 as a foreclosure
• 1915 Chestnut Grove Dr. closed on 5/1/09 for $141,000 as a foreclosure
• 2004 Prairie Ridge Dr. closed on 6/12/09 for $150,000 as short sale
• 2223 Preston Lakes Ct. closed on 7/29/09 for $155,000
• 1623 Manor Oaks Dr. closed on 3/25/09 for $159,000 as a short sale
• 1609 Lake Pointe Ct. closed on 8/11/09 for $165,000 as a short sale
• 5757 Lake Pointe Dr. closed on 5/19/09 for $165,000 as a short sale
• 1714 Hidden Oaks Ct. closed on 9/29/09 for $165,000 as a foreclosure
• 1818 Prairie Ridge Dr. closed on 10/29/09 for $165,000 as a foreclosure
• 1912 Spring Ridge Dr. closed on 12/29/09 for $172,000 as a short sale
• 1912 Westmore Grove Dr. closed on 9/22/09 for $180,000 as a foreclosure
• 1820 Arbor Falls Dr. closed on 7/9/09 for $183,000
• 5827 Emerald Pointe Dr. closed on 10/16/09 for $184,000
• 5915 Lake Pointe Dr. closed on 6/16/09 for $185,000
• 1914 Westmore Grove Dr. closed on 6/1/09 for $188,700
• 1811 Arbor Gate Dr. closed on 5/18/09 for $190,000 as a foreclosure
• 1728 Tall Oaks Dr. closed on 5/1/09 for $193,000 as a short sale
• 1902 Prairie Ridge Dr. closed on 8/16/09 for $195,000
• 1713 Manor Oaks Dr. closed on 8/24/09 for $199,900
• 1905 Prairie Ridge Dr. closed on 2/20/09 for $203,000
• 2311 Willow Oaks Dr. closed on 4/7/09 for $205,000
• 1917 Arbor Fields Dr. closed on 10/14/09 for $209,000
• 1913 Long Ridge Ct. closed on 6/12/09 for $216,000
• 1916 Westmore Grove Dr. closed on 5/15/09 for $218,000
• 5501 Hickory Grove Dr. closed on 9/2/09 for $236,500
• 1900 Arbor Fields Dr. closed on 11/10/09 for $237,900
• 5609 Sierra Highlands Dr. closed on 6/29/09 for $240,000
• 5307 Brier Glen closed on 7/16/09 for $240,000
• 2001 Ridge Moor Dr. closed on 8/10/09 for $240,100
• 1907 Maple Glen closed on 7/1/09 for $241,000
• 1704 Sierra Highlands closed on 4/10/09 for $280,000

2008 Closings:

• 2121 Willow Lakes Dr. closed on 9/12/08 for $173,000
• 2049 Winding Lakes Dr. closed on 10/31/08 for $180,000
• 5808 Lake Pointe Dr. closed on 1/16/09 for $190,000
• 1905 Prairie Ridge Dr. closed on 2/20/09 for $203,000
• 2200 Brindlewood Dr. closed on 3/3/09 for $206,000
• 1881 Westmore Grove Dr. closed on 12/19/08 for $208,000
• 5310 Floralwood Ct. closed on 12/15/08 for $211,000
• 1907 Spring Ridge Dr. closed on 1/30/09 for $215,000
• 5208 Brindlewood Dr. closed on 9/25/08 for $222,750
• 5406 Maple Glen Ct. closed on 9/10/08 for $228,000
• 5301 N Brier Glen Dr. closed on 10/17/08 for $255,000
• 1920 Chestnut Grove Dr. closed on 9/29/08 for $255,000
• 1714 Sierra Highlands Dr. closed on 9/19/08 for $257,000
• 1700 Grand Highlands Dr. closed on 12/05/08 for $259,000
• 1605 Grand Highlands Dr. closed on 10/03/08 for $266,500

If you want to know what your home in the Wesmere subdivision is worth, or have a property in another subdivision in Plainfield IL, contact me at the tab on the top of this page or call me at 630-673-6233. It would be my pleasure to help you with any of your real estate questions.

Are you behind in your mortgage payments?  You may qualify for a loan modification or short sale.  Call me to find out if you qualify for either of these programs.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233

The following closed real estate transactions for properties in Plainfield, in the Grande Park subdivsion are:

• 26537 Rustling Birch Way closed on 10/27/08 for $349,990
• 13303 Morning Mist closed on 10/03/08 for $362,000
• 26661 Lindengate Cir. closed on 1/30/09 for $362,500
• 12904 Peppertree Dr. closed on 10/30/08 for $367,000
• 12712 Grande Pines Blvd. closed on 2/01/09 for $389,900
• 27114 Rustic Woods Ave. closed on 2/13/09 for $415,000
• 13426 Lindengate Ct. closed on 9/25/08 for $425,000
• 26005 Whispering Woods Cir. closed on 2/05/09 for $445,000
• 26501 Rustling Birch Way closed on 12/12/08 for $455,800
• 26112 Oakcrest Ln. closed on 11/14/08 for $472,500
• 12842 Grande Pines Blvd. closed on 9/20/08 for $475,000
• 13033 Timber Wood Cir. closed on 10/31/2008 for $525,000
• 27015 Rustic Wood Ln. closed on 11/21/08 for $549,900
• 12911 Grande Pines Blvd. closed on 9/17/08 for 560,000
• 12924 Grande Pines Blvd. closed on 2/13/09 for $644,678

The Grande Park Subdivision in Plainfield IL is comprised of custom and luxury single family homes on premium home sites. The Grande Park subdivision is located near Rt. 30 and 127th  Street in Plainfield IL.  Construction in the community began in 2006 and homesites are currently available for new construction, though many of the custom home builders in that area have spec homes available for purchase.

Students attending public school in the Grand Park Subdivision in Plainfield IL attend the following schools if they are in the Kendall County and Oswego Township section of the subdivision:

• Grande Park Elementary
• Bednarcik Jr High
• Oswego East High School

Students attending public school in the Grande Park subdivision in Plainfield IL attend the following schools if they are in the Will County and Wheatland Township section of the subdivision:

• Walkers Grove Elementary
• Richard Ira Jones Middle School
• Plainfield North High School

If you want to know what your home in the Grande Park Subdivision is worth, or have a property in another subdivision in Plainfield IL, contact me at the tab on the top of this page or call me at 630-673-6233. It would be my pleasure to help you with any of your real estate questions.

Are you behind in your mortgage payments?  You may qualify for a loan modification or short sale.  Call me at 630-673-6233 to find out if you qualify for either of these programs.

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

The most recent real estate closings in the Caton Ridge Subdivision in Plainfield are:

• 6512 Cascade Ridge Dr. closed on 11/5/08 at $194,000
• 2217 Country Ridge Dr. closed on 12/3/08 at $215,000
• 2215 Cedar Ridge Dr. closed on 10/3/08 at $218,000
• 6501 Breckenridge Dr. closed on 2/27/09 at $252,450

If you want to know what your home in the Caton Ridge subdivision is worth, or have a property in another subdivision in Plainfield, contact me at the tab on the top of this page or call me at 630-673-6233. It would be my pleasure to help you with any of your real estate questions.

Are you behind in your mortgage payments?  You may qualify for a loan modification or short sale.  Call me at 630-673-6233 to find out if you qualify for either of these programs.

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

According to Crain’s Chicago Business an index of Chicago-area single family home prices will decline 8.1% in 2008 and another 2.2% in 2009.  Prices for Plainfield and Naperville IL homes for sale, in general, have held up well against the current rates of depreciation, but the price declines are a necessary evil for bringing some long term stabilization to the real estate market.  Plainfield IL home values have returned to their 2005 values which was pretty much the peak of the area’s appreciation during the real estate gold rush that swept across the nation.  I personally think that one of the reasons that appreciation was so high and depreciation has been relatively low in areas like Plainfield and Naperville IL has to do with the new development that took place during the years of 1998-2004. 

The lure of lower home prices on new construction became a concession to the distance that buyers were willing to travel for a newly constructed home in under developed suburban areas.  Buyers were able to buy low for a longer period of time until the development of the area caught up with the amenities of older and more established neighborhoods north and east of Naperville and Plainfield IL. 

After the area became developed, the prices in the area caught up with the national rate of appreciation, in addition to the quickly captured equity of “moving so far away” from where residents were originally from.  I think that those two factors softened the blow for the immediate rate of depreciation, BUT… that may not be the end of the story.

Plainfield IL home owners may have a tougher storm to weather in the long run.

Why? Because there is a large demographic of first time home-buyers in Plainfield IL. This demographic continued to rise every time a new developer built a subdivision on vacant land.  First time home buyers who bought a home from 2003-2005 were easy prey for unscrupulous mortgage lending schemes.  It was also an opportunity for new homeowners to be tempted by the market to strip their newly acquired homes of any and all available equity. 

First time buyers that find themselves in the wrong hands can often be misguided and misled to make bad decisions.  The best piece of advice I could ever give someone looking to buy a home it this:

Don’t let someone else tell you how much house you can afford. 

Now, I’m not saying that you shouldn’t seek the advice of a mortgage professional when it comes to buying a home, because that’s the first thing I’m going to tell you to do, BUT… I hope you already have an idea of what kind of a payment you can comfortably make before you start shopping for a loan.  Commit to that payment before you start shopping for a house because it’s really easy to inch up past that mark as you take in the excitement of buying a house.

Another reason things may get worse for sellers in Naperville and Plainfield IL, is that tighter lending restrictions have made it more difficult to reduce the inventory of homes available for sale from owners who want, or need, to sell their homes, and we all know from high school economics class that when there is a surplus of anything it drives prices down. 

Foreclosures in Plainfield IL are still on the rise and as long as there are bank owned properties, neighborhoods with a high volume or REO homes for sale will continue bring down the area values.

Home prices are still relatively high in comparison to area income levels and in order for home prices to stabilize, prices need to decline. 

Sellers in Naperville and Plainfield IL who are serious about selling their homes in this market will need to be serious about their homes value based on market time, active comparisons, and closed comps within the last 3-6 months.  Sellers who are not willing to price their homes according to the current market conditions will find themselves holding on to a property that is never going to sell. 

To find out what your house is worth right now, or to learn about the market conditions in your Naperville or Plainfield IL neighborhood, call me at 630-673-6233 contact me at the tab at the top of this screen for your custom market analysis or market report.

Julie Ferenzi | Realtor®
Plainfield IL Homes
630673-6233

Mayfair’s most recent real estate closings in Plainfield IL are:

• 6510 Benich Ln. closed on 11/06/08 for $158,000
• 2509 Joe Adler Dr. closed on 2/27/09 for $160,000
• 6607 Peyla Ln. closed on 11/21/08 for $180,000
• 6510 Goldhaber Ln. closed on 1/5/09 for $197,500
• 3001 Ruth Fitzgerald Dr. on 1/12/09 for $208,500
• 2809 Joe Alder Dr. on 9/8/08 for $215,000

The average sale price for a home in the Mayfair subdivision from September 2008 to February 2009 was $186,500.

If you are interested in knowing what your home in the Mayfair subdivision is worth, or have questions about buying or selling a home in Plainfield IL, call me at 630-673-6233.  I love working and living in Plainfield, and it would be my pleasure to help you buy or sell your next home in Plainfield, IL!

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

Clearwater Springs and Aspen Falls most recent closings in Plainfield IL are:

• 6983 Paradise Cir. closed on 10/14/2008 for $174,989
• 2709 Abode Dr. closed on 11/24/2008 for $211,000
• 6800 Bazz Dr. closed on 2/24/2009 for $260,000

During this six month period from September 2008 through February 2009, 16 neighborhood listings expired without selling.  Keep watching for more updates on neighborhood closings and market prices.  Do you want to know what your Plainfield IL home is worth?  Click on the tab at the top of this page and submit your information.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233

There were 16 closings on Plainfield IL town homes from February 8th through March 8th, 2009.

They range in price from $90,000 all the way up to $305,000.  The Plainfield IL home that sold for $90,000 was a foreclosure in the Carillon subdivision near I-55 and Weber Rd.  The property that sold for $305,000 was in the Creekside Crossing subdivision near Drauden and Indian Boundary Rds.

In addition to the one foreclosure closing, 2 additional properties closed as short sales, which brings the total amount of distressed property sales for the last month to 18.7% in Plainfield IL.

For an updated list of property closings in Plainfield IL, or for a complimentary Comparative Market Analysis, please contact me either by phone or by e-mail.  If you or someone you know are having trouble making your mortgage payments, I may be able to help.  Loan modifications and short sales are available to qualified homeowners.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233

Job transfers and life changes bring many families to the decision to make a move, but what if you owe more than your house is worth?  These days, Plainfield IL homeowners aren’t left with many options in a real estate market like this.

One option is to sell the house at market value and pay the difference between market value and the balance of the mortgage… but who wants to do that?!  If the difference is under $5,000 that may not seem like a bad option, but when the difference stretches beyond most families financial reserves it often becomes an impossible option.

So, what can you do if you own a home in Plainfield IL and you owe more than your house is worth?

Many homeowners are resolving their home woes by offering their Plainfield IL single family homes for rent.  Since the homeowner wouldn’t have any money coming back to them at the closing due to the deficit between the sale price and mortgage balance, finding a tenant to pay the mortgage through rent payments is giving many homeowners a viable option to move when life necessitates that change.

The Plainfield IL single family rental market is in high demand.

Many families looking in Plainfield IL for a single family home to rent are coming from circumstances directly related to the financial crisis and the economy.  The downside to the high demand of rental properties in Plainfield IL come from the  amount of families in the community displaced by foreclosure and effect that it has had on their credit score.

Foreclosure, late payments, or short sale can knock 200-300 points off of an individual’s credit report, which makes it hard to determine someone’s willingness to make good on their debts, when all 3 situations can have such a detrimental effect on their credit all at once.

Someone with good credit before an unfortunate circumstance put them in a position to miss mortgage payments, does not have an easy go of “just putting the house on the market” and hoping it will sell.  Often times without the intervention of a short sale professional, (like myself )  foreclosures become inevitable in a market like this that is foreclosure driven.

Now, I hope I didn’t scare you too much because not all tenants looking in Plainfield IL for a rental home have bad credit!  Lending is so tight right now, many renters just can’t qualify in this economy. Down payment requirements have left many buyers unprepared for a market like this.  Living as a tenant in a single family home in Plainfield IL instead of an apartment is as close to the American Dream as many families can get until we see a dramatic improvement in both lending and with the economic outlook.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233

Plainfield market times are creeping up as the inventory of homes exceeds the demand from buyers.

In the last 3 months the average market time for a detached single family home in Plainfield IL was 166 days, but the break down of market time by the number of bedrooms is  a little more specific:

• 2 bedroom Plainfield homes for sale have an average market time of 148 days.
• 3 bedroom Plainfield homes sold in an average of 126 days, considerably shorter than the group average.
• 4 bedroom Plainfield homes have an average market time of 184 days.
• 5 bedroom Plainfield homes sold in an average  of 209 days.

From my interpretation of these numbers is that it seems that 3 bedroom homes sell faster than larger or smaller homes by a little over a month, which could be attributed to buyers entering the market for the first time.  Traditionally 4 and 5 bedroom homes tend to be second or third time “step-up” purchases.

The average market time for Plainfield IL attached single family homes (townhomes, duplexes, condos, etc.) is 133 days.  The breakdown is as follows:

•  1-2 bedrooms have an average market time of  144 days.
• 3 bedrooms have an average market time of 122 days.

It seems that the demand for 3 bedroom attached single family homes in Plainfield IL is slightly higher than smaller units available on the MLS, as the market time indicates.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233

Forget buyers.  These days I feel more like a leasing agent,  but I’m certainly not complaining. Right now the Plainfield IL rental market is hot, Hot, HOT!

The amount of investors in the market that are helping to clean up the foreclosure mess have created a great inventory of homes that renters have to chose from.  Most of my weekly phone calls are from families recovering from low credit scores and looking to get into a single family home that they will have an opportunity to purchase later through a lease option, or through the right of first refusal.

Investors that have purchased in this market with the intent to buy and hold their real estate investments have a steady supply of consumers that are in demand of their product, but it is not without risk.  Due to the recent events in the economy, many of these consumers do have credit challenges that make the chances of finding a renter with good credit more and more unlikely.

Is there is a silver lining?  Of course.

Many of these renters will do anything to get back into a new home, and that means a new-found responsibility to their finances and debt obligations.  Homeowners who are climbing back up the ladder after filing for bankruptcy, suffering a job loss, or losing a home to foreclosure still need a place to live.  Given the high amount of foreclosures and bank owned properties in Plainfield right now, there are a lot of families looking to fill these vacant Plainfield IL rental properties.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233