In the month of November 2011, there were 77 new properties that began the foreclosure process in Plainfield, IL. In November 2010, there were 79 new properties that began the foreclosure process. Not really much of a change when comparing market snapshots for the same time year to year.
Illinois is a judicial state, meaning that the lender must take legal action against the homeowner in a court to regain ownership of the property. From the time the Lis Pendens is filed the owners have anywhere from 6 months upwards of nearly 2 years before the lender takes back the property. Some lenders work faster than others, while some lenders seem to almost passively pursue the ability to reclaim the property.
I have seen some lenders set auction dates as early as 8 months after the Lis Pendens have been filed, and I’ve also had clients miss payments for 2.5 years before the auction date was set.
If you’ve missed payments on your home in the last 2-3 months and don’t know what to expect, I can help. I have been helping homeowners all over Illinois sell their homes through short sale, and help them get back on track and into a rental property when the sale is complete. I have also recently started working with a true credit repair agency that can help you get control of your financial situation and rebuild your credit after missing payments affects your credit.
Call me at 630-673-6233 to discuss your options confidentially.
Julie Ferenzi | Realtor®
Plainfield IL Short Sale Specialist
630-673-6233
The amount of foreclosure proceedings for 2011 are up from 660 new pre-foreclosure filings in 2010 to 944 new filings in 2011. These numbers are from January 1st through November 30th for both years. Until the end of this final month of the year I won’t have the final yearly totals, so I compared both years through the end of November to keep the comparisons consistent.
This is not good news for anyone looking to sell a home as a regular residential sale in Plainfield IL anytime soon. These homes will most likely sell at discount through either short sale or through foreclosure, which will continue to drive down the prices of regular residential real estate throughout the community in the long term. But really, how much lower can prices get? I can’t believe the closed comps on some of the single family homes throughout Plainfield. Maybe prices will plateau sooner than later, because without giving them away, we’ll have to hit bottom somewhere above… well, free?
If you have to sell your home because you are behind in payments and are facing foreclosure, call me to confidentially discuss your options and learn if a short sale it the right answer for you.
Julie Ferenzi | Realtor®
Plainfield IL Short Sales
630-673-6233
In October, 74 single family homes sold in Plainfield IL. The homes ranged in price from $89,000 all the way up to $635,000.
While the number of distressed home sales is still holding steady at an alarming 38.9%, we are down from the 50% ratio that consumed most of these reports in 2010 and earlier this year in 2011.
Of the 74 single family homes that closed in Plainfield, 18 of these homes were bank foreclosures that made up 24% of the total sales for the area in October. Another 11 single family homes that closed during the same time were short sales, consuming 14.9% of the market share.
Without being either pessimistic, or overly optimistic, seeing numbers under the 50% mark is encouraging. Unfortunately, the lack of any improvements in the economy, or in the unemployment numbers, makes me wonder if these numbers are going to be short lived.
If you are having a hard time making your payments, or are facing foreclosure, call me to discuss the possibility of doing a short sale. Banks are working with homeowners in default to allow them to sell their homes for less than what they owe. In addition to helping you sell your home, I also refer my clients to a company that helps you get back on track financially. Selling your home is only the beginning of recovering from a financial hardship. Call me today at 630-673-6233, to see how a short sale can put you on the path to financial recovery.
Julie Ferenzi | Realtor®
Plainfield IL Short Sale Specialist
630-673-6233
The following single family homes have closed in the Clearwater Springs and Aspen Falls Subdivision in the last 6 months from February 2011 through August 2011.
The combined subdivision of Aspen Falls and Clearwater Springs in Plainfield IL are located on the northeast corner of the Caton Farm and County Line intersection. The entrance to the subdivision is marked by a beautiful double stone waterfall and 9 ponds throughout the neighborhood.
Several different builders have been part of the development of the Clearwater Springs and Aspen Falls subdivision, which contains more than 900 single family homes. The Clearwater Springs section was developed mainly by Montalbano Homes, and the Aspen Falls section was developed largely in part by Phoenix Homes. Another builder began the neighborhood but went bankrupt before the neighborhood was even close to being completed.
Within the last 2 years, the last of the vacant lots in the neighborhood have finally been built upon, and the general architecture of the community boasts contemporary floor plans with easy access to shopping, entertaining, and highway access.
The students in the Clearwater Springs and Aspen Falls Subdivision attend Meadow View Elementary, Aux Sable Middle School, and Plainfield South High School.
Homes have become very affordable in Plainfield IL in recent months. If you, or someone you know, are looking for an affordable home in Plainfield IL, call me at 630-673-6233 to schedule a home-buying consultation to get started on the process of buying a home!
Julie Ferenzi | Realtor®
Plainfield IL Short Sale Expert
630-673-6233
The following properties have closed in the Heritage Oaks subdivision in Plainfield IL between February 26th, 2011 and August 26th, 2011:
Heritage Oaks is a luxury custom home community located in Plainfield IL. Heritage Oaks subdivision is a highly sought after neighborhood due to it's close proximity to Rt. 59 for commuters, and the convenience of shopping, dining and entertainment.
Plainfield IL is a quick 45 mintues into Chicago via I-55 to Lake Shore Dr. The train stations in Aurora, Naperville, and Joliet make communting a viable option for those that commute to the city for work.
If you, or someone you know, is interested in buying or selling a home in the Heritage Oaks subdivision, please call me at 630-673-6233. I specialize in single family residential real estate and short sale solutions.
Julie Ferenzi | Realtor®
Plainfield IL Short Sale Specialist
630-673-6233
*An (F) indicates a forelosure and (S) indicates a short sale.
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I sell and list homes in Plainfield, Naperville, Bolingbrook, and Joliet. I help buyers and sellers all over Will and DuPage County to list and sell their short sales listings. I love my clients!
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