Plainfield, IL

46 single family homes sold in the month of November (2008) in Plainfield IL. The lowest was a short sale sold at $143,000 and had a market time of 90 days. The highest home sold for $609,900 and was also a short sale. The market time on this home was only 12 days.

Compare to November 2007 when 59 single family homes sold. Lowest sold at $179,843 and the highest sold at $740,000.

If you are looking to buy or sell in the Plainfield IL area, please call LaNita Cates at REMAX of Joliet at 630-341-1545 or visit www.lanitacates.com

Did you know that if you are behind in payments that it may be possible to avoid a foreclosure by performing a short sale with your lender?

I am a Realtor® and I specialize in residential and pre-foreclosure real estate in Plainfield. I have been helping homeowners in foreclosure my entire career in real estate. Given the recent economic downturn in our country and the 71% increase in foreclosure filings last month, it is more important than ever to have access to insider knowledge to the foreclosure process. Did you know that 1 in 10 families’ in America are now behind in payments according to the National Association of Realtors?

By hiring me to assist you in the sale of your home you have access to an experienced short sale negotiator, and you can track the progress of your short sale on-line. Dan Garcia has worked in the mortgage industry for over 25 years, and has been very successful in working with lenders to help homeowners avoid a foreclosure. We have worked together in real estate for the last 4 years. You can visit the automated website at: www.Trevana.ManageMyShortSale.com and see how the process works.

It is very important to start the short sale process as early into the foreclosure process as possible. Working with an experienced short sale agent is just as important. Many owners wait until it’s too late to attempt a short sale. By leaving the lender negotiation to an experienced negotiator, I have more time to market and manage the sale of your home.

The foreclosure crisis is going to be hard to fix, but at some point things will start to turn around.

If you have any questions or would like to discuss the possibility of having me represent you on the sale of your home, you can contact me directly at 630-673-6233

Julie Ferenzi | Realtor®
Plainfield Real Estate
www.LivinginPlainfield.com

As I often do, I spent some time analyzing some data on Plainfield in the MLS today from the last 3 months. I actually looked at all of the pending and contingent sales for all of Plainfield and what I discovered, while not surprising, confirmed what I’ve been preaching for months now.

There are two factors that seem to affect market time in dramatic ways:

1. Price. Price. Price!
2. The condition of the home.

This is what has been happening in real estate in Plainfield over the last 3 months:

It’s kind of depressing to be in real estate in such a… well, depressing market. We’ll I’m tired of being discouraged and melancholy about this whole situation. When I was combing through the MLS today, it really all started to make sense. Over-priced listings won’t sell and the only way to get an offer on a home is to “drive it to market value” over a period of 60 days.

I used to say “no thank-you” to over-priced listings, but if I’m willing to try it your way… but you have to be willing to try mine. If you have not had any activity (showings, inquiries, offers) after 2 weeks, it’s time for a 3% price reduction. After 2 more weeks if nothing happens it’s time to re-assess the situation again with another 3% reduction. “Driving it to market value” is a sure fire way to find out what your house is really worth. When you finally have interest in the property you know it’s priced correctly. I have no interest in hanging a sign up in your yard in this market. I will however, pour my heart into selling your house… if you are willing to do what it takes to get it to sell.

The market time in Plainfield is about 4 months right now for all closed 3-4 bedroom single family homes in Plainfield. That’s really great news. (Surprising huh? Lol.) Those homes also closed at 94-95% of their asking price. That is fantastic news!

Here is the reality of situation right now though; nearly 50% of all the homes in Plainfield that were listed on the MLS over the last 3 months had their listing expire before their home sold. The other cold hard fact about those homes was that for the Plainfield 3-4 bedroom single family homes, the asking price of the homes that did not sell were approximately $50,000 more than the average list price of similar homes, and approximately $60,000 above the average closed sale price. I’m not surprised at all that they did not sell, especially since today’s savvy buyers are out there looking for a deal.

People will always need a place to live. If you want them to choose your house, you better make it the sweetest deal in the market!

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

Holiday Pictures and Pony Rides on Sunday, Dec. 21 from 1-3pm. Normantown Trails Equestrian Center, 12151 S. Normantown Road. Come to the Nortmantown Trails Equestrian Center and get your child's picture taken on our festively costumed pony, Peter Pan. Rides are 10 minutes long and all riders must have a signed release form. Helmets will be provided. Picture: $5. Pony Ride: $10. No registration necessary. Call 815-436-8812 or www.plainfieldparkdistrict.com

Howl-A-Day on Saturday, Dec. 13 from 11am - 1pm. Van Horn Woods Dog Park. I-55 Frontage Road between Rt. 30 and Caton Farm Rd. Bring your dog(s) for some "Howl-A-Day" activities. Dress them up and enter them in the costume contest, send them on a scavenger hunt to find special treats and have their photo taken with Santa! All dogs must have current rabies vaccination due at time of registraton. Call 815-436-8812 or visit www.plainfieldparkdistrict.com