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In order to get a really good grip on what is going on in real estate right now here in Plainfield, it becomes necessary to compare apples to apples.

I got a little curious this afternoon about how the Plainfield real estate market in September 2008 compared to the real estate market of September 2006 and also of 2007.

With all the doom and gloom of the economy in recent weeks, the obvious question becomes…

How is Plainfield fairing through all of this?

Well, heres the breakdown of Plainfield Real Estate for September 2006-2008:

In hopes of putting these numbers in proper perspective, its obvious that the number of closed Plainfield properties dramatically declined between 2006 and 2007, but that the minimum home price peaked at the same time.  And while home prices have declined steadily since 2006, the volume of closings seems to be on the rebound in September 2008.

In September 2008:

The minimum home price is down 25.2% from 2006.
The minimum home price is down 31.9% from 2007.

The maximum home price is down 18.5% from 2006.
The maximum home price is down 29.2% from 2007.

The volume of home closings is down 45% from 2006.
The volume of home closings is up 25% from 2007.

Tracking short sale closings is a recent feature of the MLS so the only data available is for 2008, but only 16 of the 76 properties sold this month were short sales.  This is a good sign that we may be heading out of dark days when it comes to Plainfield real estate.

The key trigger to a hopeful upswing to Plainfield real estate is that the volume of single family home closings is up 25% from this time last year.  Yes, prices have taken a dramatic dip since 2006, but the biggest factor in reaching the bottom of this real estate black hole is that people are still buying!

No, you wont get top dollar for your Plainfield real estate, BUT all things are relative… and you wont pay as much either

If you want to know more about what is happening in Plainfield real estate, or need someone to help you decide if this is a good time to move, call me at 630-673-6233.  I can help you, and I always answer my phone.  Hey, who else gives you this info for free?!

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HUD TO ALLOW DOWN PAYMENT ASSISTANCE PROGRAM TO CONTINUE

• Allow down payment assistance for a mortgage where the mortgagor has a credit score equivalent to a           FICO score of 680 or greater.

• Allows down payment assistance where the mortgagor has a credit score equivalent to a FICO score of 620 to 679 and the mortgage insurance premium charged would be based upon the score and risk involved.

For credit repair go to: www.htdimortgage.net/zagreb

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I belong to a social media site for Realtors called Active Rain.  I love it.  I’ve learned so much from other Realtors from all over the U.S. and it allows me to network with agents all over the country.  There is also a sister site to Active Rain called Localism that offers valuable insight to specific communities and neighborhoods in every state, which I contribute to as well.  Buyers and sellers love it because of the targeted insight to specific neighborhoods.  Make sure you check it out before you leave the site… :)

Tonight I came across a post from an agent who was disgruntled about a listing agents lack of interior photos on a new listing on the MLS.  Not only that, but the only photo available was an absolutely horrid exterior photo that included the interior of the agents car and the rear view mirror!  If that were my home, I would fire that agent immediately! There really is no excuse for a not marketing a property with a full display of the 9 photographs allowed by the MLS, and there is no excuse for not even getting out of the car to take the photo!

My motto is: “with the price of gas, if there are no interior photos… it must not be worth showing!”

Now think about it?  How would you feel if I had a perfectly qualified, possibly interested buyer, but your house didn’t make our list because your agent didn’t provide any interior photos?   I bet your you’d be irate that your agent was too lazy or technology deficient to market your property to it’s fullest potential? I’d feel like kicking some Realtor butt.  How about you?

Really, I’m only half kidding.  An agent who won’t go the extra mile isn’t doing what you hired them to do!

Active Rain is home to some of the funniest real estate photo follies displaying the handi-work of some of the most notoriously BAD real estate agents… don’t let your Realtor sabotage your intention to sell your home!

Make sure your real estate listing doesn’t make the list for all the wrong reasons! 

This isn’t the kind of market where you can save money by using a flat fee service and to just expose your property to the MLS.  Your listing needs to be seen in more than one place on the Internet; gone are the days of throwing a property on the MLS and waiting for an offer to come in! If you want an agent who will do everything to takes to actually “MARKET” your property in this tough economy… you need me! 

P.S.  I own a camera and I’ll put up lots and lots of pictures for ya!

Call me at 630-673-6233 if you want to see what I do for my clients.  I always answer my phone! (if not I call you back right away!)

~Julie

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Buyers know they have the upper hand in negotiating in this real estate market, and they are using that power to get the best deal on a new home in Illinois. But what can you do as a seller to get the best price for your home in shortest amount of time?

There are a couple of things to understand about the market that can help you equalize the playing field with qualified buyers when it comes to negotiating a sales contract:

• Price your home between the highest and lowest priced comparable home on the MLS. You never want to be the highest priced home on the market.

• Keep close tabs on what the competition is doing. New listings, price adjustments, and price reductions will affect your position on the MLS so it’s really important to know where you rank among the competition.

• Instead of lowering your asking price to create new interest in your property, considering offering the buyer a 2-night stay at the Wisconsin Dells or at a hotel in downtown Chicago. Even offering an Illinois home warranty can be enticing for many nervous first time homebuyers.

• If parts of your home need cosmetic updating consider offering an allowance for things such as carpet, paint or new appliances. Allowances are great ways to leverage the contract negotiation back in the sellers favor, at no up front cost to you for repairs.

• Don’t leave any unfinished projects for your buyer to have to finish. Buyers detract $$$ every time they lay eyes on one of your ambitious unfinished weekend projects. It doesn’t only cost you money on the final sale price it costs you precious market time.

I can help you get the most for your Illinois property, but I can’t do it alone.  I’ll need your help to get the SOLD sign in your yard!  By working closely with sellers and keeping a close on the competition you can get the best price for your home in the shortest amount of time… even in a down market.

If you are thinking about buying or selling a home in Will or DuPage County, let’s talk!  Call me at 630-673-6233.  I always answer my phone!