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Plainfield, IL Real Estate News

By LaNita Cates
(REMAX of Joliet)
If you are craving a mouth watering vanilla cupcake or a strawberry filled cake or need a fun idea for a birthday cake, contact Cathy's Sweet Creations! Located in historic downtown Plainfield and established in the summer of 2005, Cathy's is known for creative specialty cakes - weddings, birthdays.... From their Atomic Cake (a layer of chocolate cake topped with yummy fudge, a layer of fresh bananas and then bavarian cream to cover those bananas and then more cake. A SECOND banana cake is added with fresh strawberry preserves and a gob of whip cream. And for the top layer, their fabulous yellow cake and the gobs of whip cream icing!) to custom sugar cookes to cookie cakes.... YOU WILL LOVE IT! 24042 West Lockport Road in Plainfield. 815-577-9660 Tues-Fri - 8am-5pm; Sat - 7am-4pm; Sun b...
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Built in 1981, the Ottawa Street Pool is located across from the Recreation / Administration Center near downtown Plainfield. The 200,000 gallon L-shaped outdoor pool is equipped with high and low diving boards and contains lap lanes. The facility also has deck chairs for sun-bathing, a 3,000 gallon enclosed tot wading pool, a ship-shaped children's play area, an eating area so patrons can bring their own coolers (no glass containers or alcohol are allowed), and men's and women's locker rooms. The Park District offers group and private swim lessons, as well as other classes and special events at the pool. The pool is also available for parties and private rentals.Hours of Operation:2012 Season: Saturday, May 26 – Sunday, Aug. 19 Afternoon Swim: Monday - Friday: 1-4:30 pmEvening Swim: Mo...
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By LaNita Cates
(REMAX of Joliet)
Springbank Aquatic Center— luxury meets paradise Designed exclusively for the residents of Springbank, the sparkling 9-acre Aquatic Center offers a paradise of summer joys! For little ones, hours of fun await on the spray play area, sand play area, and zero depth pool. Experienced swimmers will love the large lap pool and water slides. For more fun and fitness as well, there are beautifully designed bocce ball and sand volleyball courts ready for use! For membership information, contact Megan Knollman at Property Specialists, Inc. at 847-806-6121 or by email to mknollman@psimanagement.net.
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One of Plainfield’s largest unfinished subdivisions, stuck in foreclosure limbo with only 98 of 1,880 homes built, has a new owner. Avanti Properties Group, partnering with Ocean Atlantic Management, has closed on a deal to purchase the 950-acre Springbank development, located on Drauden Road north of Caton Farm Road, from MAF Developments Inc. Avanti had announced plans to buy the subdivision in July, and requested Plainfield Village Board approval to amend the development’s original annexation agreement, site plan and zoning so it could increase the number of town houses and add an apartment complex and a 20-acre commercial site. When trustees balked, the company backed off the request but stayed mum on whether the purchase would proceed. Village Planner Michael Garrigan called the sa...
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By Ken Tracy, Helping clients buy and sell since 2005
(Coldwell Banker Residential)
Why do foreclosures use such LOUSY pictures? A client contacted me the other day, wanting to see some homes in Plainfield, Illinois.  Given her price range, many of the homes she selected were foreclosures... As I flipped through the pictures of the homes she picked, I was disappointed at what I saw...   -What is this?  The cameraman couldn't even pick up the blinds? -Tempting... ?  Wall paper.  Peeling wall paper.  Seat up...   Are you kidding me? Although these pictures are a bit extreme, they are not out of the norm.  Bad angles and horrible lighting are so common with foreclosures, I wonder... Why aren't these agents even trying? Ken  
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
    Considering Helping Your Child Buy a Home? What Parents and/or Co-Signors Need to Know        Within the current housing market, there is great opportunity to be found, especially if you're a first-time home buyer.  Home prices are down ... lower than they have been for almost an entire decade.  And Interest Rates??  The cost of borrowing, in regards to Interest Rates, is at historic lows ...   truly a gift, should you be able to take advantage of them.       With all the positive opportunities that exist, many buyers, along with their families, are looking for ways to take advantage of these current positives by buying properties with the assistance of Co-Buyers/Co-Signors.  Most considering this path to home ownership are parents and/or relatives.        As a mortgage lender, it i...
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By LaNita Cates
(REMAX of Joliet)
Bring your flashlight to Van Horn Woods (West on Lily Cache Road, North of Caton Farm Road) for our 4th Annual Flashlight Egg Hunt! Kids will have the opportunity to hunt for eggs filled with prizes, gift certificates and candy! MUST pre-register to participate. No on-site registration will be allowed. Event will be held rain or shine. Please plan to arrive prior to your child’s egg hunt time as they will only be allowed to participate in their age-appropriate time slot.  Registration deadline date is Friday, Mar. 23. R $5/NR $7.50. March 30, 2012 from 8:00 p.m. - 9:00 p.m. Go to www.plainfieldparkdistrict.com to register!
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By LaNita Cates
(REMAX of Joliet)
So much fun to hang out with your kids and get in shape at the same time! For kids ages 3-12 and their parents and no experience necessary! Just bring a yoga mat or blanket and wear comfortable clothes. Barefoot or socks only please - no shoes. And be prepared to move! This event is sponsored by Rep. Tom Cross' Mainly Moms Avisory Council. RSVP to 815-254-0000. Event will be held March 1, 2012 from 7:00 p.m. - 8:00 p.m. at the Plainfield Public Library, 15025 S. Illinois Street.
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Don't forget to register for the Plainfield Park District's Annual Mother/Son Dance - 80's Style! Big hair, shoulder pads, blue eye shadow, layers of clothing, leg warmers, huge earrings, fingerless gloves, zippered pants and Members Only jackets! This event is for boys ages 3-13 (with adult) will feature DJ music and refreshments! All boys will receive a photo with their special date. Guests must arrive by 7pm to have their photo taken. One photo per child will be provided. DEADLINE TO REGISTER IS FRIDAY, FEBRUARY 24. Residents $27 and non-residents $40.50 per couple The Dance will be held on March 2nd from 6:30 p.m. to 8:30 p.m. at Heritage Grove Middle School, 12425 S. Van Dyke Road in Plainfield. Contact Kelly Rathke at 815-436-8812 x35 for questions.
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Every Saturday and Sunday from 8am - 5pm, visit the indoor flea market/arts & craft's exhibit. 90+ vendors with a large variety of products including clothing, collectables, handbags, pillows & linens, jewelry... Cost is .50 for adults. Located at Route 30 Plex, 16300 S. Lincoln Highway in Plainfield
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Recently I have had a lot of buyers ask "How close are home selling to list price?" I remember when I first got into real estate, homes were selling 3-4% of list price. So I went back to 2008 and pulled some numbers for Plainfield. I could only pull the first 500 closed properties because that is what the MLS allows me to do. But in 2008, sold properties closed averaging 95.59% of their final list price. This is a 4.41% difference between property sale prices and their final list price. In 2011 (in Plainfield), the sold properties closed averaging 95.95% of their final list price. This reflects a 4.05% difference. I think a lot of buyers think homes are selling 10% or more under list price. When I get an offer or write an offer, it surprises me sometimes that buyers are still thinking h...
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By Linda Kemp, Stager and Relocation Professional
(Keller Williams Realty Infinity)
If you live in Plainfield or if you are thinking about making this great city your home, you might want to keep up-to-date on what's going on in the real estate market.  Are you looking for current information?  Are you looking to sell your home and can't decide whether this is the right time for you and your family? Have you thought about purchasing a home but need more information?  Then this is the site for you! You will find helpful statistics that will open your eyes to the reality of what's sold and what is selling. I have included some great information on what has sold and the price ranges, days on market, month to month comparisons, and year ending comparisons. This information does not target individual subdivisions but is meant to be an overall view of the Plainfield market. ...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
    Dispelling Nasty Rumors Regarding Down Payments                 "Rumours" ... catapulted Fleetwood Mac to the top of the charts during the year 1977 ...          "Rumors" ... was the name of an episode on the TV program Glee this last spring ...           And Rumors ... are once again swirling about the amount of down payment a borrower needs to buy a home and obtain mortgage financing in the current market.         THOSE rumors don't sound pretty.  THOSE rumors don't make you smile or tap your toes.  Nor are they humorous or entertaining.  They're inflicting some serious damage on potential home buyers.            Just recently, I've had multiple mortgage phone calls from potential home buyers having heard rumors regarding the amount of down payment they'll have to save prior to st...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Don't "Cut Your Nose Off and Spite Your Face" when it comes to your Mortgage Financing              There's an old saying ...          "You're cutting your nose off and spiting your face" ...           Stretching the point just a bit, I want to use this saying to get a message across regarding interest rates ... and the intense focus that most home buyers, and those refinancing, place on them.       Now I know that sounds a bit ironic coming from me, a  mortgage lender.  But as much as I think the interest rates we are seeing right now are a huge HUGE advantage to those seeking mortgage financing ... I also think that the extreme attention and importance placed on rates by consumers can be rather myopic and ultimately end-up being detrimental to their long-term financial health.      U...
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By LaNita Cates
(REMAX of Joliet)
Newly opened La Dolce Vita in Plainfield! This is a must-try Italian restaurant! The staff is awesome and the decor is up-scale. The linguini con scampi e broccoli was to die for and the wine list is fabulous! This is a great restaurant and a great addition to Plainfield! I wouldn't call it "kid-friendly" but it's perfect for adult friends who need a night out or a romantic dinner! Located at 16108 South Rt. 59 in Plainfield. ladolcevitarestaurante.com to view hours and directions as well as their menu.
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By LaNita Cates
(REMAX of Joliet)
During the month of December, 2011, 73 single family homes sold in Plainfield IL. Of the 73, 13 were short sales and 25 were short sales. The average market time was 188 with the minimum being 1 day and the maximum 1,239 days. The minimum home sold for $73,000 and the maximum sold for $495,000. The average home listed at $227,651 selling at $216,008.
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Champions Know the "Rules" of the "Game"          I can't tell you how many times, as a mortgage lender, I hear rumors or misconceptions expressed to me regarding the mortgage process.         So much of my time is focused on promoting the "un-learning" of what a client thinks they know as they enter the act of obtaining mortgage financing. So much time is used addressing frustrations with the process itself.         No one needs to think too hard or long as to WHY there are so many misconceptions or frustrations.   If the process of mortgage financing was viewed as a "game" of some sort ... you'd definitely have needed a scorecard and notepad to have kept up with all the changes made in the "game" during the last few years.   It's been mind-boggling, for sure.         Last Sunday's B...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Announcing the "Comeback Kid" ... PMI! (Private Mortgage Insurance)               In the good news department, it appears that the private mortgage insurance companies may be loosening up their guidelines and appear to be regaining a lost share of business that FHA has been enjoying.         Coupled with the higher monthly mortgage insurance costs associated with FHA loans now, and the "availability" of privately issued mortgage insurance, more Conventional loan scenarios are taking hold.         Of those options at 5% down, single premium (paid upfront at closing) is emerging from the pack. With the single premium upfront private mortgage insurance, borrowers pay a lump sum at closing as part of the total costs of their mortgage. This eliminates any monthly private mortgage insurance ...
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Currently there are 669 single family homes on the market in Plainfield, Illinois. The average list price is $261,729 with an average market time of 236 days. There are 36 single family homes with 2 or less bedrooms with an average list price of $183,976 and an average market time of 309 days. There are 224 single family homes with 3 bedrooms with an average list price of $195,434 and an average market time of 214 days. There are 367 single family homes with 4 bedrooms with an average list price of $298,669 and an average market time of 244 days, There are 42 single family homes with 5 or more bedrooms with an average list price of $359,167 and an average market time of 222 days.
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
The New Year is Upon Us.  Make '2012' the Year of YOU! The headline reads ...     Average 30-year mortgage rate a record 3.91 pct. Average rate on 30-year fixed mortgage falls to record         3.91 pct., 15-year flat at 3.21 pct.         And yes ... this means if you're one of those that have earned good credit scores, you could receive this record low interest rate for your mortgage.      Remarkable, isn't it??  And to just prove how very remarkable it is ... I tell you, I've been in the mortgage business for 35 years and when I started out back in the mid-1970's, the average mortgage rate was in the 6% range.  Again I say, remarkable!     But this post isn't really meant for those that have good credit scores.  (Although I hope you read it and take action to contact me too!)  No, it...
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