Julie's Blog

There were 60 home sales in Joliet IL over the last 30 days.  Of those 60 homes that sold 43% of them were short sale or REO properties.

The difference in the number between short sales and bank owned properties in Joliet IL is somewhat alarming.  40% of the homes were actual bank owned foreclosure sales, while only 3% of those sales were short sales.

The discrepancy in this number can either be attributed in the difficulty of getting a short sale accepted by the lender, or because more and more homeowners are simply walking away or giving up on trying to avoid a foreclosure.

The range in home prices that closed in Joliet IL over the last 30 days was $26,500 - $479,000

If you are looking for a home in the northwest side of Joliet IL, call me at 630-673-6233.  I can help you get the best deal on a new Joliet IL home with my experience of the current real estate market, including my experience with short sales.

If you own a home in Joliet IL and you are behind in payments, call me about doing a short sale on your home at no cost to you to avoid a foreclosure.  

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

The Plainfield IL home sales for the last 30 days from April 15th, 2009 through May 15th 2009 are now more than 50% short sales or foreclosure sales.

That's great news for buyers... but it's bad news for the economy and the real estate market in general.  It means things aren't getting any better for homeowners in foreclosure, and homeowners who are current on their mortgages are losing the value of their homes at warp speed.

42 of the 82 homes sold were either foreclosed or bank owned homes, or short sales.

The price of homes sold in the last 30 days ranged in price from $119,000 to $430,255.  Surprisingly the home that sold for $119,000 wasn't actually a distressed property.  It was a small 2 bedroom ranch, sold by a motivated seller.  The bulk of the short sale and bank owned properties that sold were definitely in the lower end of the price range, and the homes that sold in the higher price brackets were regular residential home sales, which makes sense.

Buyers have a great opportunity to purchase a lot of home for the money in Plainfield IL right now.  The downside to making an offer on a bank owned home or a short sale listing is that there are often multiple offers on these homes, (especially the ones in great condition) and the wait time on a response for a short sale can take anywhere from 4-10 weeks to get approved.

There is definitely an upside to buying a foreclosure or short sale is priceless in a market like this.  Buying below market value, while prices are still declining, offers a little more protection from depreciation than paying retail prices.  The biggest difference will be in the amount of work you may need to put into the house to make it compare to some of the retail priced homes.

If you want to buy a home in Plainfield IL and are interested in purchasing a short sale or bank owned home, call me at 630-673-6233.  It's important to work with an agent that not only has performed short sales, but understands the process involved.

Call me at 630-673-6233 and I can put you in touch with my mortgage broker who can help you determine what kind of a loan you qualify for.

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

This weekend is the Plainfield Spring Fest, starting this Friday May 15th and running through Sunday May 17th. 

I saw a sign as I was driving through the downtown area this weekend with the dates and times:

Friday May 15th from 4:00 -midnight
Saturday May 16th from 10:00-midnight
Sunday May 17th from 12:00- 6:00 pm

Now don’t quote me on the times I’ve posted here… I was driving at the time, but I’m pretty sure this is what I stored in my brain from my photographic memory!

There will be a carnival, a craft show, food vendors, a beer garden, and live entertainment.  One of my favorite booths had always been the fresh strawberry shortcake stand, but I haven’t seen it there for the past 3 years.  I remember when we first moved to Plainfield that this Spring Fest was once called the Plainfield Strawberry Festival.  I wonder why they changed the name, and where did those delicious strawberry shortcakes go? 

Here is the schedule of events for the 2009 Plainfield IL Spring Fest:

Friday, May 15th
6:00-9:30pm  Plainfield’s Biggest Open Mic Jam
9:30 -11:30pm  Echo Son

Saturday, May 16th
11am - ATL Youth Cheerleaders
12:30  Elite Martial Arts
1:30-3:30pm  Hot Hot Robot
4:00-6:00pm  40 Miles to Chicago
6:30-8:30pm  The Catch
9:00-11:30pm  Velocity

Sunday, May 17th
12:00-2:30pm  The Debe Welch Band
3:00-6:00pm  Beat Apple

If you’re able to make it out there this weekend, have fun!  I know we are looking forward to it. The Plainfield Springfest is being supported by the MainStreet Plainfield Organization and it’s sponsors.

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

In hopes of keeping my readers up to date on the rental market in Plainfield IL, I will start listing the properties that have rented month by month.  Hopefully this will give anyone considering a rental home in Plainfield IL an idea of the price ranges of homes available for rent.

The following properties rented in Plainfield IL in the month of April 2009: 

 2 Bedrooms Single Family Plainfield IL Rental Homes:

• 13918 S. Oakdale Ct. rented for $1,200
• 2414 Millpond Ct. rented for $1,230
• 5007 Elmira Ct. rented for $1,300
• 16250 Fairfield Dr. rented for $1,350
• 5102 Edgewater Ct. rented for $1,395
• 21316 W. Douglas Ln. rented for $1,500
• 13212 Lake Mary Dr. rented for $2,100

3 Bedroom Single Family Plainfield IL Rental Homes:

• 14052 Edgewater Ln. rented for $1,275
• 5520 Stonybrook rented for $1,275
• 21512 S. Empress rented for $$1,300
• 14219 S. Napa Cir. rented for $1,300
• 4920 Montauk Dr. rented for $1,375
• 21252 Edison Ln. rented for $1,395
• 23814 Mistwood Dr. rented for $1,400
• 14624 Samuel Adams Dr. rented for $1,500
• 2018 Alpine Way rented for $1,550
• 5307 Riviera Blvd. rented for $1,595
• 1304 Broadlawn Dr. rented for $1,700
• 12925 Tipperary Ln. rented for $2,175

4 Bedroom Single Family Plainfield IL Rental Homes:

• 1617 Brighton Ln. rented for $1,625
• 2817 Stonebridge Dr. rented for $1,850
• 6307 Ventura Ct. rented for $2,000
• 13358 Wellesley Ct. rented for $2,250

If you or someone you know are thinking of renting a home in Plainfield IL call me at 630-673-6233.  I’ve been working the rental market in Plainfield IL since the beginning of the real estate market decline.  I’ve placed 7 families in rental properties in the last 2 months.  No one works harder when it comes to placing families into new homes!

If you are behind in payments you may qualify for a loan modification or a short sale.  Contact me to find out if you might qualify for one of these options to avoid a foreclosure.

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