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