Market Report for Frankfort Illinois | November 2012 Distressed Sales Report
It's that time again, the time to report November 2012's sale statistics for Frankfort Illinois. To help illustrate the pie chart about Frankfort total sales for both detached single family homes and attached single family homes totaled 32. Of those 32 total sales 22% of them were distressed. I am happy to see that short sales are still out numbering the bank owned foreclosures. This tells me that homeowners in Frankfort Illinois are learning that short sales are a better option for homeowners today and there are far more benefits to them vs. a judicial foreclosure in Illinois.
When you compare these numbers to Nov. of 2011, in Frankfort the ratio's are pretty close so there has been no major changes since last year. The number of sales are up from total of 21 closed attached and detached single family homes in Frankfort. Frankfort has held pretty strong when you compare this to other surrounding areas over the past few years. There has been an obvious decline in prices in our market and although the distressed sales including both Fankfort short sales and Frankfort bank owned foreclosoure have had a substantial effect, it hasn't had as much of a negative effect as many other cities.
If you are looking for more information on selling your home in Frankfort Illinois please give me a call directly at 708-620-4460. As your local Realtor, current resident of Frankfort and and lifetime resident of the Lincoln-Way area I can help you identify your best options.
Some homeowners may owe more on their home than it is worth which would make it difficult to sell your property as a traditioanl sale. If that is the case you may qualfy to do a short sale. I have successfully helped over 50 homeowners negotiate and and sell their homes as a short sale and many of those were in the local area including Frankfort. For more information on this type of sale or to discuss other options, please contact me at 708-620-4460.
Raymond Kennedy
Keller Williams Preferred Realty
Illinois Real Estate Broker | Realtor
Direct: 708-620-4460
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