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sellers: Plainfield IL, Naperville Illinois Real Estate - Do I qualify for a short sale? - 09/03/08 09:38 AM
Do I qualify for a Short Sale? Do You....
Owe more on your Naperville or Plainfield area property than what you could sell it for, especially after real estate commission, closing costs, late payments, interest, etc? Have difficulty covering your expenses each month? Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank? Are You Having Trouble Making The Payments? Are You....
Feeling the stress mounting with each missed payment and phone call from your bank? Have difficulty covering your expenses each month? Getting confused as to … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - 10 Things to Expect Going Through a Short Sale - 08/20/08 09:59 AM
10 Things to Expect Going Through a Short Sale
The bank is going to what to see your entire financial picture. This means you will need to provide copy of back taxes, paycheck stubs, bank statements, personal financial statement, etc. They will want to know what all your assets are. The bank may want you to sign a promissory note for the difference, now it will most probably be at a hugely reduced amount and may include monthly payments. When the bank gives the final approval of the short sale, they may request that the escrow close in as little as … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - If home's been on market awhile, it's time to rethink strategy - 05/20/08 11:03 AM
Here's a great article from Inman News:
Sellers, pay attention to lowball offers
If home's been on market awhile, it's time to rethink strategy
By Dian Hymer, Monday, May 19, 2008.
Inman News
Selling a home can be an emotional experience because most sellers have a lot more than money invested in their homes. So, it's understandable that sellers might be reluctant to respond to an offer that is for less than the asking price.
Most sellers have a difficult time being objective about their homes. But, detachment is something sellers should strive for, particularly when the market favors buyers. To … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Energy efficiency guide - 05/14/08 08:55 AM
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit www.cherylbowers.com for your real estate needs. Please give me a call if you have questions about the Plainfield, Naperville, and Aurora real estate market.
Cheryl Bowers, REALTOR® (630) 712-1921
(Copyright © 2008 By Cheryl Bowers, Realtor. All Rights Reserved.) … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Illinois 1st Quarter Housing Update - 05/13/08 08:38 PM
Illinois 1st Quarter Housing Update
Illinois median home prices held their own in the first quarter while sales were constrained by the ongoing credit crunch and a softening economy. According to Illinois Association of Realtors (IAR) first quarter report, home sales totaled 21,576, down 27.0 percent from 29,553 home sales in the first quarter of 2007. The first quarter statewide median home sale price was $187,500, down 4.3 percent from $196,000 a year earlier. "Extreme winter weather on top of shaky consumer confidence due to rising gas and food prices and the uncertain economy affected overall home sales activity statewide. REALTORS do … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Is the end near? April foreclosures and pre-foreclosures drop - 05/13/08 11:38 AM
The nation's foreclosure hemorrhage slowed a bit last month, according to Foreclosures.com. Lenders repossessed 74,570 homes following foreclosure in April, down more than 5 percent from March. April pre-foreclosures dropped 7.52 percent from March too, according to California-based Foreclosures.com foreclosure information specialists."The sky isn't falling, and the bottom of the housing market is in sight," says Alexis McGee, president of Foreclosures.com.Foreclosures.com says its analysis is based on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and trustee's deeds/REOs (real estate owned by lender through foreclosure).In the … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Negotiation Tip - 05/06/08 08:17 PM
Negotiation is back in style, and is likely to remain a necessary part of buying or selling a home in today's residential housing market.
Needless to say, you need to work with the best real estate professionals you can find in your area. In most cases, it takes a team effort to put a home-sale transaction together and see it through to fruition.
HOUSE HUNTING TIP: Successful negotiations usually require give and take by both parties. It has been said that the sign of a successful negotiation is one where both parties walk away feeling they have won. It has also been … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Mold Must Go (6 Things to Know) - 05/02/08 08:27 AM
Mold is a potential health danger for any family and also a legal liability for sellers. Because of the fear over mold contamination there are so many lawsuits flying around today that sales of resale homes are in jeopardy -- and insurance companies are scrambling to avoid liability, with some U.S. insurers refusing to write any new homeowner policies. So what do you need to know about mold .....
1. Molds are everywhere and have been around forever. Many people have the impression that this is a new problem -- think, "Attack of the killer molds!" -- and that we now must arm … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Aurora Townhome - 3 Bedroom, 3 Bathroom in Oswego School District 308 - 04/30/08 08:55 AM
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sellers: Plainfield IL, Naperville Illinois Real Estate - Why selling now makes sense - 04/29/08 10:01 AM
Why selling now makes sense
Homeowners reluctant to sell because prices have fallen should do the math and realize that the market downturn could work in their favor."People are finding houses at prices they thought they'd never see again," I would like to point out that to potential sellers that if the house a buyer covets used to be $500,000 but its price has fallen 20 percent to $400,000, it is a deal, even if the buyer's own home also has lost 20 percent of its value.In general, the toughest will be for people who bought within the last three years, at … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Home Staging Suggestions - 04/26/08 08:44 AM
Most Popular Home-Staging Suggestions In a slow market, it's particularly important to get a house ready to sell quickly. Here are some of my most frequently made suggestions:
Fix any visible problems that might be a red flag for potential buyers, including repainting walls. Cover damaged kitchen or bathroom floors with inexpensive peel-and-stick vinyl floor tiles - if a more expensive change seems out of the question. Repaint public rooms that will garner a lot of a buyer's attention, including the kitchen, dining room, and living room. Clean up the exterior of the house, add potted plants, repair damaged walkways, and put a … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Short sale advantages - 04/07/08 01:16 PM
Short Sale Advantages:1. Short sales appear on your credit report as "pre-foreclosure in redemption", not as "debt discharged due to foreclosure"2. Less impact on your credit score
About the author:
Cheryl Bowers is a Chicagoland Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Plainfield, Naperville, Aurora Illinois or any place in the country. Cheryl has created a team of professionals throughout the Chicago suburbs to ensure that you enjoy a smooth transition to your new area. Please visit http://www.cherylbowers.com/ for your real estate needs. Please give me a call if … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Top 10 Short Sale Questions Answered - 04/04/08 05:57 AM
Top Ten Short Sale Questions Answered
Number 10
I can't make my house payments, but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit score...is a short sale right for me?
Probably, not. In cases where the seller can pay back all or part of the negative equity (usually to the 2nd lien holder), it makes sense for them to work out a repayment plan. The lender will then release the lien and allow the home to close.
Number 9
If I pay mortgage insurance and default on my loan, why wouldn't … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - How to avoid foreclosure - 03/27/08 12:20 PM
The following information is from www.yourillinoishome.com. A great resource for home owners.
How to Avoid Foreclosure
If you are a homeowner at risk of foreclosure you need to know there are programs and services that can help. It's important to act quickly and before you are three months delinquent on your mortgage payment, says Beth Llewellyn, CEO of the Partnership for HomeOwnership and a U.S. Housing and Urban Development (HUD)-certified homeownership counselor with over 12 years of experience helping lower-income families achieve homeownership.
"Foreclosures in Illinois are a nine-month judicial process but after 90 days the lender will turn the delinquent loan over to … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Possible home ownership tax credit - 03/26/08 10:31 AM
Economist suggests $5,000 home-buyer tax credit to spur homeownership. In the March Real Estate Insights, NAR (National Association of Realtors) chief economist Lawrence Yun, analyzes several federal plans proposed to curb foreclosures and stimulate the housing market. Yun proposes a homebuyer tax-credit of $5,000 tax credit (which currently exists in Washington, D.C.), which would cost the federal government $40 billion. Yun says: "A reversal in the weakness in the housing market, which has been subtracting about one percentage point off GDP growth, can add $40 billion to the U.S. Treasury, essentially offsetting the cost of the tax credit. If the initial $40 billion … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Home sale trends - 03/26/08 10:25 AM
February home sales activity improved slightly from January as we gear up for the spring market. According to the IAR's (Illinois Association of Realtors) latest report, total home sales were up 15.1 percent in February 2008 to 6,832 sales compared to January 2008 sales of 5,938; sales were down 22.9 percent from February 2007 totals of 8,860. The Illinois median price in February was $181,265, down 5.6 percent from $192,000 in February 2007. "REALTORS are seeing some signs of the spring market with increased activity and interest from potential buyers. If people have good credit, their finances in order, and are looking … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - How to get the perfect hard boiled egg. - 03/22/08 10:22 AM
How to get the perfect hard boiled egg.
Start by placing the eggs in an empty pot. Then fill with cold water until the water is about an inch over the eggs. Place pot on stove and turn to high heat to boil eggs. When the water begins to boil, turn down burner to medium heat. Boil for 10 minutes. Once the eggs have finished boiling, remove the eggs from boiling water and place them in a bowl of ice water. Let the eggs sit for 3-4 minutes and remove from ice water. Now you have the perfect egg......and the yolk will … (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Capital gains taxes and short sales - 03/21/08 08:27 AM
Will I have to pay capital gains taxes if I sell a property as a short sale?No. If your bank suggested that, they are ridiculous. Capital gains would indicate that you are in some way "better off" financially because of money you have made. In a short sale, you lose and owe money. The only thing the bank could possibly mean is that the deficiency will be reported as 1099 income and you will have to pay taxes on that, but not as capital gains.
… (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Why would a realtor want to help me with my short sale if I can't afford to pay them? - 03/19/08 06:42 AM
How does a realtor profit from a short sale?When formally requesting a short sale commitment from the bank, realtor commissions are usually included if a realtor was involved in the deal. The bank may counteroffer to lower the commission. Realtors can also "hunt" for short sales by talking to clients that have had their homes listed for a long time with no success. The realtor can explain the short sale process and help the owner negotiate with their lender to get it sold and the realtor gets their commission.Contact me today so we can evaluate your individual situation.
… (0 comments)
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sellers: Plainfield IL, Naperville Illinois Real Estate - Am I eligible for a short sale or is my only option foreclosure or bankruptcy? - 03/18/08 12:23 PM
I owe more than my home is worth. Am I eligible for short sale or is my only option foreclosure or bankruptcy?Always consult your lender as to what your options are. The options usually are: a short sale, deed-in-lieu of foreclosure (basically an accelerated voluntary surrender), and foreclosure. The banks like to prevent foreclosure when at all possible. They've even been known to lower people's rates and/or payments because of all the new defaults in the past few years. Either way, your first stop should be to get information from you lender on what options they provide.Contact me for an assessment of your costs. … (0 comments)
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Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
Plainfield,
IL
More about me…
Keller Williams Realty
Address: 608 S. Washington Street, Suite 100, Naperville, IL, 60540
Cell Phone: (630) 712-1921
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