Julie Ferenzi

Clearwater Springs and Aspen Falls most recent closings in Plainfield:

• 6983 Paradise Cir. closed on 10/14/2008 for $174,989
• 2709 Abode Dr. closed on 11/24/2008 for $211,000
• 6800 Bazz Dr. closed on 2/24/2009 for $260,000

During this time 16 neighborhood listings expired without selling. Keep watching for more updates on neighborhood closings and market prices. Do you want to know what your home is worth? Click on the tab at the top of this page and submit your information.

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

There were 16 closings on Plainfield town homes from February 8th through March 8th, 2009.

They range in price from $90,000 all the way up to $305,000. The property that sold for $90,000 was a foreclosure in the Carillon subdivision near I-55 and Weber Rd. The property that sold for $305,000 was in the Creekside Crossing subdivision near Drauden and Indian Boundary Rds.

In addition to the one foreclosure closing, 2 additional properties closed as short sales, which brings the total amount of distressed property sales for the last month to 18.7% in Plainfield.

For an updated list of property closings in Plainfield, or for a complimentary Comparative Market Analysis, please contact me either by phone or by e-mail. If you or someone you know are having trouble making your mortgage payments, I may be able to help. Loan modifications and short sales are available to qualified homeowners.

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

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!

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