Julie's Blog

Naperville, IL is located just 30 miles west of Chicago.  Naperville has been recognized by Money Magazine as a best place to live, in 2006, 2005 and 2003.  It also ranked as one of the best places to raise a family in 1997 and 2001. 

The popular Naperville Riverwalk was built by Naperville residents in 1981 to commemorate the cities 150th birthday. It is a huge attraction for many Naperville residents as well as many residents of neighboring cities like Aurora, Plainfield, Wheaton and Lisle.  The Riverwalk is located in downtown Naperville, just west of Washington Blvd.  Currently parts of the Riverwalk are undergoing renovations.  

Naperville is home to a very large number of neighborhoods which border towns such as Plainfield, Lisle, Wheaton, Bolingbrook, Downers Grove and Aurora.  Naperville is accessible from both I-355 which runs north and south, as well as I-88 which runs east and west directly into Downtown Chicago, which is why Naperville is often favored by commuters.

Real estate in Naperville right now ranges between $200,000 all the way up to $5.2 million.  The average sold price of a single family home in Naperville for the month of May 2008 was $489,285.  Dont be deterred from looking here though, even if thats out of your price range.  The foreclosure fallout has affected nearly every community in the Chicago suburban market which creates great opportunities to pick-up a under priced home in almost any city.

Naperville is freckled with a mix of both newer and older neighborhoods. Many of the older neighborhoods tend to be located near the north end of town, clustered together near downtown Naperville near the Naper Settlement and on the east side of Washington Ave near the campus of North Central College.  This is where the restored Victorian homes are located. Some of the neighborhoods in this area are:

Springhill             Wildflower          
Wiloway              Farmstead
Longwood           Pepperplace
Maplebrook        Old Farm
Willowgate         Bay Colony
Old Sawmill        Eagle Point
Brookdale
Chicory Place
Willowgate

Most of the newer construction and luxury homes are found on the south and west side of Naperville located south of 75th street and West of Rt 59 near neighboring Plainfield. Some of the neighborhoods in this area are:

South Pointe        Creekside
Tall Grass              Winding Creek
White Eagle          Edgewood
Tamarack             Knoch Knolls
Stillwater              Aero Estates
Clow Creek           Breckenridge Estates
High Meadow       Heritage Knolls
Heatherstone      Mission Oaks
Saddle Creek
Ashbury
Harmony Grove
Westwind

The Naperville Community School District #203 is home to 14 elementary schools (grades K-5), 5 Junior High Schools (grades 6-8) and 2 high schools (grades 9-12). The Indian Prairie School District #204 is home to 21 Elementary Schools (grades K-5), 6 Middle Schools (grades 6-8) and 2 High Schools (grades 9-12) and 1 Alternative High School.  For the most part District #203 serves the large part of the northern side of town and District #204 serves most of the south part of town.  Schools play a big part in the home buying process for families with school aged children.

Naperville Property Tax bills are due June 1st and September 1st and are based on 1/3 of the fair market assessed value of the property. Tax revenue in Naperville goes to support the cities infrastructure like schools, park district and the library.  There are 3 public libraries in Naperville and they are consistently ranked the #1 public library for its population in the nation!

Naperville knows how to entertain too!  Several yearly events take place here that draw big crowds from all around.  The Naperville Ribfest takes place over the 4th of July holiday and is filled with rib vendors from all over the country and top notch entertainment.  The Last Fling happens over the Labor Day weekend in Downtown Naperville.  Theres an event for nearly every celebration and almost every occasion.

Naperville really is a great place to live and raise a family.  If you are considering a move to Naperville or any of its neighboring communities Id love to show you around.  As a longtime resident of Plainfield, I can tell you first hand how great Naperville really is because  Ive spent lots of time there and have family who raised their own children there.  Call me at 630-673-6233 for all of your Naperville home needs! You have no idea how much I love helping families shop for new homes! 

Have you ever had to take a step back from life and think, "how did I get so lucky?"  I've had to pinch myself lately as I think about all of the good things that have happened in my life over the past few years. 

Here is just one example:

You might remember a while back how a little boy named Trevor Kott engraved his name on my heart... 

This chubby little cherub had me front and center when I heard about how desperately he needed a bone marrow transplant.  I felt compelled to act as did my friends, Rocky and Tracy.  We collectively held 3 separate bone marrow drives for Trevor, both in Illinois and California... but unfortunately a match was never found. 

Trevor passed away on April 25th, 2007.  He was only 6 months old.

To my surprise, I got an e-mail a few months later from Trevor's mom Angela Kott.  She had planned a trip to Chicago for a seminar with her friend Crystal for the last weekend of September.  I was so excited to finally meet this pillar of strength; this woman who so eloquently shared Trevor's life and message with us.  Angela is a gem and so is her friend Crystal.

I picked them up from Midway airport at took them to their hotel, during which we were able to talk and get to know one another.  It was like talking to old friends, and I looked forward to seeing them again.

We made plans for the next day, but I quickly turned our dinner plans to an early lunch after learning about an event at my kids school that night.  Oh, boy... that would prove to be a big mistake!!! 

The problem was our youngest son "Bugsy" is a screamer, and by screamer I mean "SCREAMER"! 

This kid will kill your ear-drums with one shrill ear-piercing scream.  Unfortunately for us, he didn't just scream once, twice... three or even four times; he SCREAMED the entire meal!  People were relieved to leave the restaurant because of him.  Nothing makes for faster friends, than the humor in an uncontrollable baby who won't stop screaming and scares away the other customers!  He's only 13 months old there was no reasoning.  I have no idea why he does this, but I was SOOOOO over it by the end of lunch I probably could have cried.

Oh wait, I did...

I forgot about the part when Angela handed me a beautifully wrapped gift. 

I immediately asked her if it was going to make me cry, and she quickly said, "no...."

She was wrong.

Tears immediately filled my eyes when I saw the the beautifully framed photo of Trevor and his mom!  Even more difficult were the words that followed... "Julie, thank you for making a difference."

I have no idea why Trevor tugged so hard at my heart strings.  Maybe because someday the drive I held will someday save someone else's life.  Maybe it was to open my eyes to the life that swirls around me. Maybe it was to remind to be thankful for the things I take for granted.

Angela and Crystal were such a pleasure to get to meet in person. I wish I had more time to get to know them both better.  Our visit was too short. ( but in so many ways... much too noisy to prolong!  ;) 

Trevor will always have a special place in my heart. I'll never stop telling the world all about the little boy who inspired me into action, and made me believe that for him, winning wasn't everything... it's how he played the game.

Mothers Fighting For Others

Century 21 Hometown

After doing some research about a month ago about the best place to go for printed materials, I stumbled upon Vista Print.  Ever since then, I feel like I'm feeding the "graphic design" beast within me.

I daydream about postcard design and layouts for my direct mail marketing.  I check my mailbox to see if my newest order of printed materials has arrived.  I've created "blog" business cards to hand-out to everyone I meet.  I've ordered magnets and calendar magnets, "Just Listed" postcards, "Why you should buy now" postcards... and I don't see an end in sight to my insatiable desire to upload my latest design to Vista Print!!!

I keep getting FREE offers sent to me via e-mail and I simply can't refuse. I only pay for shipping. I don't know that any of it will all be that profitable, but I seem to be unable to stop myself.  I'm just paying shipping on most of my orders, which makes it an incredible opportunity to get my name out there in my community.

So, while I'm actually having a lot of fun, my question is this: 

How many of you out there still use direct mail as a form of advertising?  Do you think it's just as important for clients to physically have your information in their hands periodically throughout the year, or is the Internet your main source of leads?  Will my direct mail marketing campaign simply cost me money in the end?

My phone has been ringing off the hook lately with buyers looking for a steal on bank owned REO properites.

I just have to say for my own sanity, that this simply is not going to be the case. 

Given the hit that the banks are taking on these properites, they will only slightly be under market value.  Based on the damage that the previous, disgruntled owner, has most likely imposed on the property.... the repairs can easily exceed any profit to be made in the investment sector.

Here near Chicago, the inventory is high... and for the most part, the prices are low, or at least negotiable. 

This is the "Let's Make a Deal" market that some predicted would never come.

What is happening in your market?  Do you find yourself listing more properties in need of a shortsale, or is it "business as usual"?

~Julie

Century 21 Hometown
7821 W. Belmont Ave.
Elmwood Park, IL 60707

630-673-6233

Over the last 8 years, not only was owning a home part of the American Dream... it seemed to be a privilege bestowed upon the general public at epidemic proportions.

Unfortunately for the next generation of home buyers, those days are fading fast. 

The way that first time home-buyers qualify for their first home will soon be changing.  Gone are the days of 100% financing and 80/20 loans...  or at the very least, they are in extremely short supply.

Buyers are losing their options to refinance their adjustable rate ARM mortgages for lower conventional rate mortgages because of a decline in anticipated appreciation.

What does this mean for someone who wants to purchase their first home?

• Start saving now.  Conventional mortgages require a 20% down-payment in order to avoid PMI insurance.  This can save you about $100-200 a month on your mortgage payment.
• Clean up your credit.  The lending industry is going through a MAJOR shakedown.  Underwriting criteria is becoming more and more difficult to bypass, and squeaky clean credit is a deciding factor in the loan approval process.
• Understand the process, know what you are getting yourself into.   
• Practice making your pre-approved loan payment before you commit. (use the extra money you save toward the down payment.   A great way to save a lot of money fast!)

Learn the language.  Talk to your parents, friend who are homeowners, or a real estate professional... learn what these mortgage terms mean: 

• PMI
• escrow account
• property taxes
• conventional mortgage, VA mortgage, FHA mortgage
• Title insurance
• closing costs
• points (and what they mean)
• pre-payment penalties
• ARM or adjustable rate mortgages
• Foreclosure
• FICO scores
• rate buy-downs and lock-ins

Knowing what you need to do to prepare for owning your first home, will eliminate any surprises that can turn your dream of owning a home into a nightmare.  Many homeowners that were floating along in the real estate bubble fell hard when the bubble finally burst.

$600 billion dollars in adjustable rate mortgages are set to adjust this year.  $900 million are expected to adjust next year.  Many of these homeowners have no idea how those rate adjustments will affect their mortgage payment, and many will only find out after it's too late!  Read the fine print and ask questions!

If you want to know more about what the recent changes in the real estate climate mean for you, call me to discuss your situation.

 

Julie Ferenzi
Chicago Suburban Real Estate

Century 21 Hometown
7821 W. Belmont Ave.
Elmwood Park, IL 60707
630-673-6233

It used to be that the word Plainfield was synonymous with tornado, but thanks to Forbes.com Plainfield may be earning a new reputation.  Last week an article on msn real estate said Forbes.com announced Plainfield, IL as the 5th fastest growing suburb in the nation. 

One of the best things about this distinction, is that along with the growth of the population, also comes the industry and investment into the community by retail, business, and government entities who may have not otherwise known about the growth here in Plainfield, IL.

So much has changed here in Plainfield over the last 8 years since we moved here from Addison, IL in 1999.  For one, Caton Farm Rd. was little more than a roughly paved, two lane road, with a single 4-way stop sign at the intersection of Caton Farm and Drauden Rd.

Rt. 59 was a 2 lane road as well from, if I can recall correctly, just south of 95th St. all the way down to I-55!  Good luck if you happened to get stuck behind a semi-truck making their way to the highway... since there were no lanes to pass in, that unfortunate scenario would cost you a good 20 minutes on your trip home if you were heading south!

New stores and strip malls exploded in the area in early 2002.  I remember being disappointed at the lack of conveniences in the area when we first moved here, but now only 5 years later, I am amazed.

When we moved to Plainfield there was only one Plainfield High School.  Plainfield "Central" was renamed after the construction of both Plainfield North and South.  Multiple new schools have been added to the district nearly every single year over the last 5 years, with projected new schools to be built at least over the next 2 years.

Countless McDonald's, Home Depot's, Menards, Walgreens, banks, grocery stores, churches, Panera Bread and Wal-Mart's have been built in the area;  I don't even bother to keep up anymore!  Living in Plainfield has been a great experience and I'm glad we moved here to raise our family.

I never would have guessed, that the quiet little town of Plainfield we chose to move to, from the busy suburban city of Addison, would be such a move in the right direction.  We are happy here, and look forward to visits from our grand-kids... decades down the road!

Julie Ferenzi

Century 21 Hometown
7821 W. Belmont
Elmwood Park, IL 60707
630-673-6233

I grew up on Wrightwood Ave. in Addison. I was born there on October 8th, 1976 and spent the next (almost 23) years of my life in the same house, until October 2, 1999 when my husband Tony and I got married.

I graduated from Addison Trail High School in 1994. I attended Fullerton Elementary and both of my sister's and I were lucky enough to have Mrs. Hall for our kindergarten teacher between the years of 1977-1983... strange as it would now be today, we shared many teachers over the years despite the 8+ year age gap between the three of us.

Our house at 256 E. Wrightwood Ave. was filled with so many great memories. We lived 3 blocks from the old 7-11 that stood at the corner of Wrightwood and Addison Rd. It has since been replaced by a cabinet store, which is ironically owned by my sister's father-in-law... Dennis Naples. I remember raiding the cushions of the couch and dryer vent for change so that I could buy candy from the nickle bins every summer.

I worked for many years at Krage's Mobil gas station, at the corner of Michigan Ave. and Lake St. and I loved every minute. Truth be told, I held countless jobs in my youth between the ages of 14 and 22, but working for Jim Krage at Krage's Mobil was by far my favorite job.

I rode bikes up and down the streets of my old neighborhood with childhood friends... friends I still have today!

I have thought so many times about moving back, but my mind knows what my heart does not; you can't re-create the past.

Despite the fact that things would never be the same, doesn't mean that I don't enjoy myself when I visit.  In fact, I think if it were possible, I don't think I'd hesitate for a minute to "come back home".

Things have changed so much over the last 8 years. Some streets are hardly recognizable, while others have hardly changed.  The old Tastee Freeze is gone, but Stardust Bowl is still going strong.  The Pink Pony, Bogarts, Mickey's Hot Dogs, Jim and Tom's, have long since gone... but with those changes have come the evolution of something new.  The area between Lombard Rd and Rt. 53 have revitalized an area of Addison that has new life to it.

During the high tide of the real estate gold rush, Addison lost many of it's long time residents... but I still find it amazing how many of it's 1st, 2nd and 3rd generations still endure.

There is an unspoken kinship among the residents of Addison, both past and present.

I think the allure of Addison, and the neighboring towns, began long ago. Given it's distinction among the expressways and highways that run through and near it, it was an obvious choice for families looking for a place outside of the city that was easy to commute from.

The range in architecture and price of homes, is another rarity within this tight knit community that sets it apart from neighboring communities. I think of Addison as a melting pot of ideas, cultures and class.

I don't think there are many that will argue that Addison is a truly unique community, comprised of old and young... old and new.

There isn't a single place in the state of Illinois that I know better than my old hometown of Addison!
 Even though I've dug new roots out here in Plainfield, you know how the old saying goes...

"Home is where the heart is..."

Julie Ferenzi

Century 21 Hometown
7821 W. Belmont
Elmwood Park, IL 60707
630-673-6233

Ask anyone who has lived in or around Chicago for the last 20 years about Berwyn and you're likely to get the same response....  "Berrrr-wwwwyyyn!" repeated back to you in a sing-song voice.  That's because of an old local t.v. show called "Son of Svengoolie" hosted by Richard Koz, Svengoolie himself.  He hosted a horror show from a wooden coffin and threw rubber chickens at the camera during commercial breaks.  

A lot has changed in Berwyn since that show originally aired in the early 1980's.  The city of Berwyn,  which once declared itself one of the fastest growing cities in the U.S. between 1920 to 1940, is now on the maps once again as home-buyers seek out city living, in a suburban setting.

The city of Berwyn is unique, and quite honestly fascinating, in that the suburb has the largest collection of Chicago-style bungalows of anywhere in the nation.  You can only begin to appreciate the architecture of Berwyn when you drive down the beautiful tree lined streets, but the true beauty is in the design and layout of these working-class marvels.  Many homes in Berwyn have undergone tremendous renovations while preserving the original integrity of the home.

Known for it's affordability, Berwyn is only 8 miles from the Chicago Loop.  Easy access to public transportation make it a commuters dream.  It also neighbors historic Oak Park, IL home to the Frank Lloyd Wright  home and museum.  The Brookfield Zoo is also a short distance from the Berwyn city limits.

I first became familiar with Berwyn right after highschool, when I started dating Dustin Fritz, a native of Brookfield, IL.  Little by little I learned more about the area and was better able to manuver my way around without getting lost!  One of the greatest things about Berwyn is that you can access so many of the highways and expressways from there.  Berwyn is nearly an equal distance to both I-290 Eisenhower Expressway ( to the north, off Harlem)  as well as the I-55 Stevenson expressway (to the South... off Harlem as well!)

In addition to it's Son of Svengoolie fame, a sculpture in The Cermak Plaza was also featured in the movie Wayne's World in the 1992.

Even though the setting for the movie was Aurora, IL, located about 35 miles west of Berwyn, the Cermak Plaza, home of The Spindle, became famous because of the curious car-kabob sculpture designed by artist Dustin Schuler in 1989.  The land where the Spindle currently stands has recently been sold to Walgreens and it is scheduled to be dismanteled later this summer in order to begin construction on the new Walgreens store that is going to be built there.  Efforts to Save the Spindle have been in the works since the news was announced earlier this year.

Berwyn is community rich in history and a beautiful place to live.  My cousins, Mike and Sonja Melton, recently moved back to Chicago from Arizona and purchased their beautiful brick bungalow, just a few blocks from the train station.  After visiting their new home, I fell in love with Berwyn all over again!  

If you're looking for a new home in Berwyn it would truly be a pleasure to assist you in your search.  It's a community I really enjoy working in, and it's a place I think you'd really be happy to call home.

Julie Ferenzi
Chicago Suburban Real Estate

Century 21 Hometown | 630-673-6233
7821 W. Belmont
Elmwood Park, IL

This week I spent a couple of days with my clients Jennifer Bero and John Solano, looking for their new home in Addison.  I actually grew up in Addison, so going back to my old stomping grounds is ALWAYS fun for me!

I do have to say though, that I was so surprised by the range in what your money can buy these days.  Not just in Addison, but all over the map here in Chicago and the suburbs!

When I'm working with buyers, it's my job to point out the value in each house, ( and in some cases, the lack thereof)!  I need to find them the nicest house at the best price.  I need to help them make their very emotional decision a very financially savvy one too.  I will always provide my buyers with closed comps from the area so that they are armed with acurate information before they make their offer.

On the other hand, as a listing agent it's my job to help you make the most informed decision on your asking price, so that your property sells in an appropriate amount of time at the best possible price.

As hard as I try, it's hard to get homeowners to put themselves in the position of the buyer.  The buyer will have a difficult time justifying an inflated list price because of all of your great memories there... or because you need to net a specific amount of money to close the sale.  I often hear seller's say, "Well, I'm not just going to give my house away!  If someone won't pay my asking price, I just won't sell!" and to that I say, "AMEN!"  because the truth is... they won't.

As a seller, you may have to remove yourself from the transaction a bit, and focus on the reality of the numbers in this very touchy market.  Your home may not be worth as much today as it might have been able to list for last year.  That is the reality of this market, and although the market is leveling out... it is still transitioning.

Not only will you have a hard time finding a buyer... you'll also have trouble getting the house to appraise out for the buyers mortgage!  Lenders will not lend money on an investment that will not be equal in collateral to the money that they are lending out.  Wouldn't you hate to find this out a week before you are scheduled to close on the transaction?!

Today I saw several over-priced run down homes that were competing with much nicer, appropriately priced homes.  Guess which ones my buyers were interested in?

If your house just isn't selling, despite the advice of your agent to lower the price, don't blame your agent when it doesn't sell!  You'll only have yourself to blame or better yet, blame me!  

I'll never let the buyer that I represent pay more for a property than what the market will allow.  It doesn't make sense for the buyers I represent, or for you as a seller who will waste precious weeks if not months looking for a buyer. 

Okay, let me re-phrase that... it's not my decision on which property they chose to buy; but as the professional they chose to represent them, I will provide the with the best and most accurate information to ensure they make the best possible choice based on the closed comps in the area.

Trust the professional you chose to hire!  We represent the party who hires us to perform a service to the best of our ability.  When in doubt, get a second... or third opinion.  If you don't think you'll be able to get what you were hoping for, perhaps it just isn't the time to sell.  The market fluctuates year to year and season to season.  Holding out might really mean holding on.

If you have any questions about what the real estate market is doing in your area, give me a call.  I'd be more than happy to give you a complimentary market analysis anywhere in the Chicagoland area, or assist you in purchasing you next new home!

Julie Ferenzi | Realtor®
Chicago Suburban Real Estate

Century 21 Hometown
7821 W. Belmont Ave.
Elmwood Park, IL
630-673-6233

If your curious about what your house might be worth these days, your not alone. In fact, many homeowners have lost touch with their homes current value over the last 12 months. The market has turned into what's known as a buyers market, and it's left a lot of people wondering...

What's my house really worth?

If your considering a move, or thinking about refinancing your current home, call me. I know what it's like to be curious about the market in your neighborhood... that's why I visit the MLS for every night to see what is happening all over the area. I'm addicted to real estate and quite frankly, I think that it's becoming a sickness.

If you want to know what your house is worth, JUST ASK! I perform property valuations for banks, which is the next best thing to an appraisal.

Julie Ferenzi |Realtor®
Chicago Suburban Real Estate

Century 21 Hometown
7821 W. Belmont Ave.
Elmwood Park, IL 60707
630-673-6233