Julie's Blog

This post was inspired by the worst real estate agent I've come across in the trenches... okay, "the worst" can be subjective to a particular situation, but believe me when I say, he shouldn't be in a customer service related field!

If you want to earn a reputation as the worst real estate agent in the area, it's not hard to do.  Just follow these 5 simple rules:

1. Do not return phone calls, EVER.  This is very important because you need to establish a complete and total lack of respect for the other parties involved in your transaction.
2. Do not get required documents returned to the proper parties on time.  Avoid, delay, and postpone all reasonable deadlines to ensure the most volatile atmosphere among all parties.
3. Make the other agent do all the leg work.  Have them really earn that commission check by getting them to pick up your slack in any conceivable area of the transaction.  If they want to get paid, they will surely go the extra mile by picking up where you leave off. 
   
4. Defer blame and accountability to the other side of the transaction when your buyer/seller realize that things aren't going smoothly.  Be sure to not sound defensive, but instead mimic their anger at any hiccups in the process. This will make you sound more convincing.
5. Repeat.

I am a nice person, and I'm a damn good real estate agent.  This week however, I lost my cool with the above mentioned agent.  He did all of these things and then some.  My clients really wanted this rental property and I have to tell you, it was a fight to get it for them even though they had impeccable credit and good income.  It was because I cared about my clients and getting them into this house that I did everything I could to make it happen including spending 2 hours in the car delivering contracts and getting signatures, because of course he couldn't be bothered.

I ratted him out to his broker.  I feel guilty, but only a little bit, (and only 'cause I'm a nice gal.)  He was a jerk, and I told him that to his face.  (okay, it was really his ear since I said it over the phone.)  He didn't respond.  Really.  He said "okay".  Then he moved on like nothing had happened.  His arrogant tone made me realize my rant fell on deaf ears. 

That's okay.  I'm pretty sure he won't be in business next year, and I think that will be fine by everyone that has been involved in this transaction!

I laugh every time I see this commercial because of the way this guy insinuates that my life must be boring.  He must not know I have 4 kids and that I work from home, armed with a laptop and cell phone in my gun sling.  I admire his enthusiasm though.

The Slap Chop seems like the answer to all life's troubles... and of course the solution to the perfect non-boring tuna!

I'm sure you've seen this commercial, but in case you haven't, here it is:

In the past 30 days, 53 single family properties have closed in Plainfield, ranging in price from $114,000 to $644,000.

Out of the 53 closings that took place, 20 homes, or 37.8%, were listed as short sales on the MLS.  Not surprising, the main bulk of the short sales took place on the lower price range homes under $200K.

Of the homes that closed in Plainfield over the last 30 days, not included in the 37.8% were the actual bank-owned homes.  The MLS does not require special notation on homes that were bank-owned or REO's, and that information is most often determined by reading the agent remarks section of the listing. 

In my opinion real estate seems to picking up, though many buyers are still on the fence about whether this is the really the right time to buy a house in Plainfield.  I think anyone who buys a home in 2009 and even 2010 will be getting a great deal on a house. Waiting too long could cost you a little bit in the short term, but the signs the real estate market is beginning to improve in Plainfield will very obvious.

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

The governments plan to help homeowners in foreclosure may leave you looking for answers as the specifics of the plan are hard to sift through.  Loan modifications through the private sector may be a better a better solution for homeowners in Plainfield and the surrounding communities.

I have been working with Dan Garcia over the last 4 years in the foreclosure arena.  Dan performs both loan modifications and short sales for homeowners in foreclosure.

The answer to turning this economy around is the ability to help the real estate market recovery from foreclosures.  In my opinion, there are two ways to do this:

1. Clearing short sale properties from the market to keep them from competing with the regular real estate market by selling them quickly.
2. Find a way for homeowners to renegotiate their debt with their lender to stay in their home.

My two step approach to solving your real estate foreclosure situation involves examining the possibility of modifying your original loan, and in the event that the lender is not willing to negotiate the debt, moving on with the process of selling the home through a short sale.

Through examining the possibility of modifying your loan, you know definitively whether there is any possibility of keeping your home or whether you need to sell. It allows you to proceed with confidence onto the short sale swiftly and prepare the home for sale.

If you want to know more about loan modifications or short sales, call me at 630-673-6233. 

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

Want to know more about Plainfield, IL?  Read all about living in Plainfield at www.LivingInPlainfield.com!

Valentines Day is traditionally known as the day of  LOVE… but did you know that:

• Valentines Day is the day when birds traditionally chose their mates.
• In Medieval times women ate exotic foods on Valentines Day in hopes of dreaming of their future husband.
• Approximately 1 billion Valentines Day cards are exchanged every year all over the world, making it the second largest card sending occasion next to Christmas!
• 60% of America’s roses are produced in California. 
• Nearly 110 million roses are purchased for Valentine’s Day within a 3 day period.
• Alexander Graham Bell applied for a patent on the telephone on Valentine’s Day in 1876.
• Chocolate is a popular gift on Valentine’s Day because it was once thought to be a cure for the broken-hearted in addition to an aphrodisiac.
  
• On Valentine’s Day many believe in order to find out how many children a woman will have, she should cut an apple in half.  However many seeds she finds in the apple is how many children she will bear.

I hope you found these fun facts about Valentine’s Day as interesting as I did!  Have a great Valentines Day Plainfield!!!

Julie Ferenzi | Realtor®
Plainfield 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 was 166 days, but the break down of market time by the number of bedrooms is  a little more specific:

• 2 bedroom homes in Plainfield 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 homes in Plainfield 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 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 is slightly higher than smaller units available on the MLS, as the market time indicates.

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

I had a sour puss on my face from October through the end of January. 

Why? 

Because I was too buy sulking, pouting, moping... (whatever you want to call it) about how not busy I was, not selling homes in Plainfield.  Misery loves company, and I know I wasn't alone.

I was too busy focusing on how slow the real estate market was here in Plainfield that I forgot to do something about it.  So, exactly what did I do about it you're wondering? 

I changed the way I do business. 

Instead of focusing on buyers who want to, but for one reason or another can't buy right now, I started focusing on a new branch of my business.  I have been working with renters and landlords in the single family and town home rental market in Plainfield for the last month, and not only have I been increasingly busy, I've been earning a steady paycheck with the potential for residual income 12 months from now!

The best part?  My deals dont' fall apart at the closing table! 

Is your market startign to thaw out too?  Are there signs of life out there for you too?!

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

My phone has been ringing off the hook with families looking for rental homes here in Plainfield.  The Spring market is certainly in full swing as real estate heats up in the area.

As of today there are 53 single family homes available for rent in Plainfield ranging in price from $1,275 up through $3,500 per month.  Most of the 3 bedroom homes range in rent from $1,450 to $1,600 with the price points for 4 bedroom homes jumping up from $1,650 to $2,500 on average.

Many of these homes are available as a lease options, or the owners are willing to consider a sale at a later date.

The process for signing a lease for a home in Plainfield can be done in just a few easy steps.

1. Fill out a Credit Check and Lease Application (which I can e-mail to you directly.)
2. Next we have to run a credit report on all applicants over the age of 18.
3. Tenant needs to provide pay-stubs from the last 2 paychecks.
4. Agents negotiate the terms of the lease.
5. Tenants wait for a response from the owner.
6. If approved, tenants put down a security deposit to hold the property in the form of a certified check or Cashiers Check and sign the lease.

See, there’s not much too it, and these Plainfield rental properties are going fast this Spring! Many of these homes have multiple offers and multiple interest by the time the owners make a decision.  It’s important to be prepared and have all of the necessary funds available before negotiating the terms of the lease, because without a security deposit chances are you aren’t going to be approved.

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

After a long cold winter, it seems like there has been a crack in the ice in Plainfield real estate lately.  I'm not sure what gave, but it seems like things are starting to pick up.  Obviously the Stimulus Package hasn't done anything to brighten the outlook of the 2009 economy or real estate situation, so I'm not sure what to attribute the increase in activity to... other than maybe the promise of Spring?

How is the market in your area?  What kind of transactions are you doing in your market?  Are you working more with buyers or sellers?  I'm just wondering what's going on out there outside my little bubble here in Plainfield :)

The last time I bought a fax machine was about 6 or 7 years ago.  The old girl served me well, but let's face it... compared to today's standards, she was a dinosaur.  In fact I was so complacent with the outdated technology that I had no idea that there was such a thing as ink-jet fax machines!

I felt like Wilma Flinstone at Staples today as I "ooohed and ahhhed" over the all shiny silver buttons and full color LED screens.  I think I annoyed the sales person just a bit, or maybe it was the fact that I had all 4 of my kids with me in the store?  In all honesty he should have been thanking them, they were the ones that broke my fax machine in the first place :)P

I work from home, except when I'm meeting with clients or showing homes, so I'm surprised at myself for taking so long to catch on to the technology that may very well streamline the way I do business. 

This new all-in-one machine faxes, copies, scans and prints.  On my old HP printer I had to individually scan each sheet and save them as PDF's which if you were talking about a credit report or an 11 pages sales contract with disclosures... I could be at it for a while.  And faxes?!  Ugh, they looked like someone ran a crayon over an embossed surface.  They hardly survived even one transfer.

This new  MFC-5890cn "Color Multi-Function Center" from Brother has a 50 page automatic document feeder, high yield ink cartridges (a money saver!) and the ability to print up to 11"x17" signs...

Okay, maybe I'm getting a little ahead of myself.  It is still sitting in the box in the office and all.  I have a rule, if the instructions are longer than one page... I make my husband Tony do it. I am however extremely excited at the prospect of saving time, and having the ability to scan and fax without all the drama, stuck pages, missing documents and trouble that my old ways had caused!

I'll let you know how I love it later next week. 

How about you?  What technology can you not afford to live without?  What piece of office equipment makes your life easier?