The other day I touched base with a past client.  During our conversation I was reminded of a beautiful property they had made an offer on  in the Shenandoah neighborhood in Plainfield IL.

Unfortunately, this was a short sale property and things didn’t work out the way we had hoped… but wow, this house was beautiful!  The master suite had a sitting area, in addition to a double walk-in closet.  The finished basement had a cinema room, custom built-in bar, exercise room, and sauna.

If I had the energy to move again, which I don’t, it would have been on my list.  Yeah, I have a list.  An imaginary list of homes that I’d move into if the stars happened to align just right…. oh, and if the market hadn’t totally tanked 2 years ago :o)

Shenandoah is located just off of 127th and Heggs Rds on the northern end of Plainfield IL.

13 homes have closed in Shenandoah since January 1st, 2010:

• 25846 Meadowland Cir. sold for $320,000 as a foreclosure on 5/26/2010
• 12909 Northland Dr. sold for $270,000 as a foreclosure on 12/23/2009
• 25715 Pastoral Dr. sold for $350,000 as a short sale on 2/4/2010
• 12927 Hawks Bill Ct. sold for $354,000 on 12/29/2009
• 25745 Meadowland Cir. sold for $367,500 on 2/16/2010
• 12724 Skyline Dr. sold for $385,000 on 4/22/2010
• 12907 Hawks Bill Ct. sold for $387,000 on 3/19/2010
• 25516 Pastoral Dr. sold for $425,000 on 6/4/2010
• 25700 Meadowland Cir. sold for $432,000 on 4/23/2010
• 25727 Meadowland Cir. sold for $432,500 on 5/28/2010
• 13033 Skyline Dr. sold for $439,000 on 12/15/2009
• 25508 Pastoral Dr. sold for $453,000 on 2/2/2010
• 12926 Hawks Bill Ct. sold for $457,000 on 4/23/2010

If you are looking for a luxury home in Plainfield IL you will definitely want to see the homes in the Shenandoah neighborhood located in the quiet and convenient location of northern Plainfield.  Whether you are looking to buy or sell a luxury home in Plainfield IL call me at 630-673-6233.  I know the secret between having a home that is for sale… and one that is sold.  It’s the best kept secret in real estate that everyone is too afraid to talk about.  Call me to find out what it is!

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

Now that the home buyer credit has expired for qualified buyers, those that missed out on the opportunity to get the credit will now be looking to save some money on the purchase of their new home.  Short sales were overlooked during the frenzy to purchase a property before the credit expired because of the length of time it took to get them approved, but they are now back in the game.

But exactly how long do short sales to get approved?  

Knowing that I wasn’t going to get an easy answer, I decided the most objective way to get the info that I wanted was to analyze the data from the last 30 days.  I found a lot of similarities among the listings, and a few surprises too.  Among the variables in the world of short sales, the lender and the person behind the short sale makes all the difference.

In a nutshell, here’s what I found out:

• 2017 Stafford St. was listed for 24 days.  The property closed 5 1/2 months later.
• 4503 Wood Duck Ln. was listed for 174 days.  The property closed 5 weeks later.
• 2304 Timber Trail was listed for 181 days.  The property closed 1 1/2 months later.
• 1908 Crestview Dr. was listed for 435 days.  The property closed 1 1/2 months later.
• 2916 Stillwater Ct. was listed for 14 days.  The property closed 3 1/2 months later.
• 16316 S. Lexington Dr. was listed for 299 days.  The property closed 5 months later.
• 2605  San Mateo Dr. was listed for 32 days.  The property closed 5 months later.
• 24328 Bristol Ave. was listed for 38 days.  The property closed 2 1/2 months later.
• 13351 Ione St. was listed for 139 days.  The property closed 2 1/2 months later.
• 24225 Norwood Dr. was listed for 212 days.  The property closed 2 1/2 months later.
• 14735 Independence Dr. was listed for 29 days.  The property closed 1 month later.

Some lenders are great to work with… some aren’t.  Sometimes things get hung up with the bank negotiators… and sometimes the negotiators actually help us out.  Sometimes the investors are given bad advice and they hold out like a hopeful homeowner that things will get better… and sometimes they realize that a bird in the hand now is worth two in the bush.

If you are waiting on a short sale to be approved, patience is the now the new key to your front door. 

Good luck!

If you or someone you know needs someone with short sale experience to guide you though selling your home for more than what you owe, call me at 630-673-6233.  I can help you navigate your way to a successful resolution in regard to a foreclosure situation.  References available upon request.

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

In the month of March there was a total of 68 single family homes that sold in Plainfield IL. 

Now, are you ready for the shocker?

57.3% of those homes were distressed sales; either short sales for bank owned foreclosures.  Actually most of them were foreclosures.  That number really surprised me.  I’m surprised more homeowners aren’t attempting to do a short sale rather than lose the home to foreclosure.  There are lots of reasons why a short sale is better than a foreclosure, so I’m not sure why anyone would just walk away from their home without even attempting to sell it for less with the bank.

The range in the price of homes went from $90,000 all the way up to $420,000, with the bulk of the homes selling in the $150,000 to $200,000 price range.  The irony is that will all of the appreciation, and now the depreciation, home values are back to where they were in 1999 and 2000.

It will be interesting to see what the average home price in March of 2010 is compared to March of 2009… and THAT will be my next market report!  Stay tuned :o)

If you or someone you know is planning on buying or selling a house in the Plainfield area or a surrounding community, call me at 630-673-6233. I’d love to help you buy or sell your next home!

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-5233

It’s about to get a little tougher for buyers with low credit scores below 580 to qualify for an FHA loan.  The minimum required down payment of 3.5% has been increased to 10%.  In addition, buyers are now required to pay PMI (Premium Mortgage Insurance) of 2.25%  (up from 1.75%) of the financed loan amount.

In addition seller paid credits cannot exceed 3% of the purchase price for any buyer.

I think these changes are a good idea, and a necessary change to FHA standards.  Buyers need to be held accountable for their investments. Higher down payments will ensure that buyers are less willing to lose their own money by walking away from their initial cash investment.

If you are looking to buy a home in Plainfield IL, or a surrounding suburb, call me to find out how much you qualify for!  I work with one of the most experienced loan officers in the industry.  Call me at 630-673-6233 to find out what loan program best fits your needs.

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

If you’re like me (obsessed with real estate) you want to know what homes in your Plainfield neighborhood are selling for…  so here are the closings for the Liberty Grove subdivision in Plainfield IL for 2010 so far:

• 25220 Scott Dr. closed on 02/18/2010 for $220,000 as a foreclosure.
• 14722 Colonial Pkwy. closed on 02/08/2010 for $235,900 as a foreclosure.
• 14859 Independence Ct. closed on 01/22/2010 for $240,000 as a short sale.
• 25224 Gettysburg Dr. closed on 02/23/2010 for $312,000.

I will update closings in the neighborhood as they become available throughout the year so don’t forget to check back here for news and information about the Liberty Grove subdivision in Plainfield IL.

I list and sell homes in Plainfield IL and all of the surrounding suburbs.  Call me at 630-673-6233 if you are in the market to buy or sell a home this year.

Behind in payments and don’t know where to turn?  I specialize in Plainfield short sales and loan modifications.  Call me for a confidential phone consultation regarding your foreclosure options.

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

The closings that have taken place so far in 2010 in the Clearwater Springs and Aspen Falls subdivisions in Plainfield IL are:

• 6708 Bazz Dr. closed on 02/02/2010 for $168,101 as a foreclosure.  (for almost $12,000 over the asking price)
• 2812 Abobe Dr. closed on 1/14/2010 for $188,000 as a foreclosure.

I will continue to update this post with new closings as they become available throughout the year. 

If you live in the Clearwater Springs or Aspen Falls neighborhood and can no longer afford your home, call me to discuss the possibility of doing a short sale with your lender.  Have questions about short sales?  Call me at 630-673-6233.

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

There were 12 Plainfield homes that sold in the Clearwater Springs/Aspen Falls subdivision between September 1st and November 30, 2009. 

The Plainfield IL single family homes ranged in price from $145,000 up to $217,000.

September 2009 Clearwater Springs and Aspen Falls Real Estate Closings:

2607 Vision sold for $206,000 on 9/18.

October 2009 Clearwater Springs and Aspen Falls Real Estate Closings:

2700 Cedar Breaks sold for $$217,000 on 10/02.
6902 Twin Falls Dr. sold for $184,786 as a short sale on 10/05.
2913 Twin Falls Dr. sold for $174,450 as a foreclosure on 10/21.
6916 Twin Falls Dr. sold for $169,900 as a short sale on 10/23.
7007 Twin Falls Dr. sold for $150,000 as a foreclosure on 10/26.
2801 Twin Falls Dr. sold for $215,000 on 10/28.

November 2009 Clearwater Springs and Aspen Falls Real Estate Closings:

2706 Oasis Dr. sold for $185,000 as a short sale on 11/13.
2611 Discovery Dr. sold for $195,000 on 11/16.
2907 Sierra Dr. sold for $191,000 as a foreclosure on 11/18.
2823 Arches sold for $145,000 as a foreclosure on 11/27.
2603 Clear Creek sold for $195,000 as a short sale on 11/30.

 If you or a neighbor would like a complimentary market analysis of your Plainfield IL area home, call me at 630-673-6233.  Working with an agent that knows the market values of the homes in your neighborhood is key to getting an offer in this market!

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

Sorry, I’ve been slacking a little bit lately on my market reports because I’ve been so busy with my buyers this fall!

I’ve got to get the numbers from September out there, so I can work on Octobers numbers later this week.

80 single family homes sold in Plainfield IL in September 2009.  The average sale price of a single family home in Plainfield IL was $245,772 and homes sold at about 95% of their final list price.  The average market time for a single family home was around 196 days.

Compared to the same time last year during the month of September 2008, 85 single family homes sold at about 96% of their asking price.  The average sale price was $269,305 and homes sold in an average of 150 days.

The average sale price of a Plainfield IL single family home was down 8.12% in 2009 from the same time last year.

September 2008 Single Family Home Sales

September 2009 Single Family Home Sales

If you, or someone you know, are thinking about buying or selling a home in Plainfield IL or a surrounding suburb, call me at 630-673-6233.   I’m a full time real estate agent dedicated to helping buyers and sellers achieve their real estate goals.

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

There were 80 single family homes that closed in Plainfield IL in the month of September… and 25% of the homes that closed last month were bank foreclosures.

Buyers are on the hunt for a good deal, and these days, that doesn’t include short sales.

The banks are backed up on both ends: writing loans for buyer taking advantage of the 1st time home buyer credit, and, homeowner files awaiting submission for short sale approval.

The bottom line is…  if you are looking to cash in on the buyer credit, you need to be looking at anything BUT a short sale!  Quite simply, the banks aren’t going to be responding anytime soon.  To be completely honest, short sales are taking upwards of 4-5 months for approval.

The snapshot of single family home closings for September 2009 is:

 The snapshot of single family home closings for September 2009 is:

 If you want to take advantage of the first time buyer tax credit, call me.  I know what to do to help you make it happen!

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

In the month of June 2009 , 110 Plainfield IL homes closed.  I can definitely say that there has been in increase in Plainfield IL real estate activity. This month I’ve written about 12 offer for buyers on short sale properties all over Plainfield who are hoping to close on their properties before December 1st 2009 to take advantage of the $8,000 first time home buyer tax credit.

In general, homes in Plainfield IL are closing at about 95% of their current asking price and selling in an average of about 161 days. 3 and 4 bedroom homes are getting about 96% of their asking price, while 5 bedroom homes are selling at only about 91% of their most recent asking price.

The average sales price on a 3 bedroom home in Plainfield IL is $191,568, and the average sales price of a 4 bedroom home is $296,829. 5 bedroom homes are selling for about $359,677 on average.

Market times have been decreasing in this market as buyers are gaining confidence as Plainfield IL home prices are once again becoming more affordable.

 If you are interested in purchasing or selling a home in Plainfield IL or the surrounding areas call me at 630-673-6233.

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