What is your home worth?All homes have a price, and sometimes more than one. There's the price owners would like to get, the value buyers would like to offer and a point of agreement which can result in a sale. In considering home values, several factors are important: The value of your home relates to local sale prices. The same home, located elsewhere, would likely have a different value. Sale prices are a product of supply and demand. If you live in a community with an expanding job base, a growing population and a limited housing supply, it's likely that prices will rise. Alternatively, it's important to be realistic. If the local community is losing jobs and people are moving out, then you'll likely have a buyer's market. Owner needs can impact sale values. If owner Smith "must" se... 09/09/2008

 Leave a comment » Will County and DuPage County area homeowners who are interested in resolving their foreclosure situationthrough a short sale now have a better option when they chose me to represent them in the sale of their home.  I work with an attorney who has a team of 25 foreclosure specialists ready to assist you with the process of selling your home for less than what is owed by your lender at no out of pocket costs to you. I have come across a lot of pre-foreclosure listings on the MLS recently that will require a short sale with their lender in order to avoid a foreclosure. I've talked to a lot of agents in the process of showing many of these listings, and there is a pretty wide range of how Plainfield real estate agents are handling these short sales. While I have perform... 09/03/2008

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 what your options are at this point? Foreclosure Sale Date Approaching?• Are you behind on your payments?• Do you owe more than your home is worth?• Have you lost your job, fell ill, or lost a loved ... 09/03/2008

These Plainfield homes ranged from $135,000 for a 2 bed/1 bath one story home to a $741,631 for a 4 bed/3 bath one story home. Of the 72 single family homes, 15 were short sales/foreclosures ranging from $165,000 to $430,000. If you are looking to buy or sell, please call LaNita Cates with RE/MAX of Joliet. As a 15 year resident of Plainfield, I can help you with all your real estate needs. Call me at 630-341-1545 or visit my website at www.lanitacates.com. 08/26/2008

From August 1 until today, there are 150 homes that have been listing as new on the MLS. 31 of the homes are short-sales or foreclosures. But for the 119 homes newly listed this month, I guess I'm wondering why. It's a tough market and most people aren't going to get what they want for their home but they continue to list at the end of August, toward the end of real estate season. Buyers, there are still sellers wanting to sell. I know 119 of them! Call LaNita at RE/MAX of Joliet. I serve the Joliet, Plainfield area as well as surrounding areas.  www.lanitacates.com or 630-341-1545 08/26/2008

The Housing and Economic Recovery Act of 2008 authorizes a $7,500 tax credit for qualified first-time home buyers purchasing homes on or after April 9, 2008 and before July 1, 2009.  1. Who is eligible to claim the $7,500 tax credit?First time home buyers purchasing any kind of home-new or resale-are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after April 9, 2008 and before July 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs. 2. What is the definition of a first-time home buyer?The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the... 08/26/2008

According to Crain’s Chicago Business an index of Chicago-area single family home prices will decline 8.1% in 2008 and another 2.2% in 2009.  Prices for homes in Plainfield and Naperville area, in general, have held up well against the current rates of depreciation, but the price declines are a necessary evil for bringing some long term stabilization to the real estate market.  Plainfield home values have returned to their 2005 values which was pretty much the peak of the area’s appreciation during the real estate gold rush that swept across the nation.  I personally think that one of the reasons that appreciation was so high and depreciation has been relatively low in areas like Plainfield and Naperville has to do with the new development that took place during the years of 1998-2004. ... 08/21/2008

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 30 days, sometimes sooner. As the seller, you can not receive any proceeds from the sale.  Period. Your Real Estate agents, and Title company, may have to work for reduced fees. The banks are incredibly overwhelmed with short sales and many... 08/20/2008

For first-time buyers, often the first thought that comes to mind is, "I need a down payment." This is often followed by the question, "Now, where do I get that down payment?" Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you're set. But what if you don't? What if you're renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn? One of the most overlooked sources of down payment funds is likely right under your nose-in the form of government bonds and local grant programs. These programs either provide outright monetary grants for down payment or money to buyers in the form of a forgivable loan. In essence, t... 08/15/2008

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 what your options are at this point? Foreclosure Sale Date Approaching? •· Are you behind on your payments? •· Do you owe more than your home is worth? •· Have you lost your job, fell ill, or lost a... 08/14/2008

So there has been an empty restaurant that used to house a chinese restaurant that went out of business over 2 years ago. Finally, a new sign came up about a month ago: "Evangeline's". This of course told us nothing as to what kind of restaurant it was OR even if it WAS a restaurant. This week my kids and I saw that it was open with a marquee sign that it was open for breakfast and lunch. We stopped and glad we did. Awesome staff and the owner is very nice. The food is really good and you can have breakfast anytime! Friendly to kids and just a great new restaurant in Plainfield. You should try it! Located at 15521 S. Route 59 in Plainfield, IL 08/14/2008

The most obvious way to mess your credit score up is to make a late payment.  Did you know that even if you have a solid credit score, a single missed payment could cost you as much as 100 points? According to the Fair Isaac, the company that calculates your FICO score, payment history accounts for 35% of your total score! Of course that credit score helps determine what kind of rates you can get when applying for home or car loans. Your FICO score is a number between 300 and 850 and is based on five criteria: 1. Payment history 2. Amounts owed 3. Length of credit history 4. New credit 5. Types of credit used According to Experian, the average credit score in America is currently 692. Those with a 700 or above will qualify for the best interest rates available. Call me to learn your buy... 07/17/2008

Ive been driving past the Ashford Place models that popped up on Caton Farm Rd. in Plainfield last year for a while now.  Ive been meaning to stop in something always seemed to keep me getting in there. A few weeks ago, my oldest son and I stopped in at the Ashford Place sales center and took a look around their two beautifully decorated models; the Halden and the Stanhope.  I immediately fell in love with Ashford Place's,  Stanhope model.  It was beautifully decorated in a pale aqua and cream color pallet.  We have big family so its only natural for me to gravitate toward the biggest home they had to offer, but it was a beautiful and highly functional layout.  I especially loved the extra large laundry room that was located right off the garage.  The front closet was big enough to stor... 07/14/2008

I have been invovled in the foreclosure and pre-foreclosure aspect of real estate in Plainfield and Naperville for the last 5 years. I have seen countless families in both of our Plainfield neighborhoods, lose their homes to foreclosure or the real estate auction over the last 9 years. My interest in real estate began as a means to understand the foreclosure process. In the last 5 years, I have learned more about the foreclosure process than I ever thought possible, and have helped and met some really great families along the way. I helped a seller in Montgomery avoid a foreclosure this past January, and I am currently working with another family in Oak Park. My husband and I also purchased two homes in Plainfield from sellers in foreclosure as investment properties, and as a result the... 07/14/2008

Just over a year ago, it was nearly impossible to imagine buying a Plainfield single family home under $200,000; but right now there are currently 10 properties on the market below $199,900 which is great news for first time home buyers looking for Plainfield real estate. Due to MLS photo cloning rules I can't include the MLS photos of these properties, but you can search for them by address by clicking on the Property Search link at the top of this page or contact me for more information on any of the following homes: (I promise not to stalk you :) 4501 Wood Duck in Pheasant landing is listed at $179,900.  It's a 3 bedroom, 1 1/2 bath two story home with a partial basement.  Features of this home include walk in closets, fenced in yard, pergo flooring, ceiling fans, and deck.  It is a ... 07/14/2008

The Farmstone Ridge neighborhood is located just off of Naperville/Plainfield Rd. and 127th St. in Plainfield, IL. Each home was custom built on a premium lot by local area builders. Construction in Farmstone Ridge began in 2003, and the subdivision neighbors the private nearby gated Lakelands Community. The students of Farmstone Ridge attend Liberty Elementary, John F. Kennedy Middle School, and Plainfield North High School, although Plainfield East High School will be opening as Plainfield's 4th high school this year. I've driven past the new school quite a few times over the last few weeks and it's coming along quite nicely!!! When I was still working at Zen Salon in the plaza at the corner about 5 years ago, I met a lot of clients who lived in the neighborhood, which was nice becaus... 07/14/2008

The Lakelands in Plainfield is located near Naperville-Plainfield Rd and 135th St. in Plainfield, IL.  These custom built homes have been built on premium lakefront lots, where homeowners can enjoy resort style living all year round.  The private lake in the gated Plainfield community also includes a private clubhouse. Many homeowners in the neighborhood own boats for fishing and water skiing.  It's hard to imagine this little resort like community in the middle of the bustling Chicago suburb called Plainfield, but I promise... it's real!  I drool every time I drive past it.  The neighborhood is so unique it's almost majestic.  I spent most of my summers on Diamond Lake in White Cloud, Michigan. I know how much fun swimming and boating are in can only imagine what it's like to own a pi... 07/14/2008

RE/MAX Realty of Joliet is the company I've chosen to work with but I service other areas as well. If you are interested in buying or selling in Plainfield, Joliet, Aurora, Naperville or the surrounding areas, please call me at 630-341-1545 or visit www.lanitacates.com. As a proud RE/MAX agent, I'm here to make the buying and selling process as easy as possible for you. 07/13/2008

You haven't had a showing, well... EVER, and you refuse to reduce the price. Maybe it's time to rethink this situation? No amount of marketing I can provide will undo the damage of over-pricing your listing.  Yes, I'm talking to YOU!  The homeowner who insists that the custom painted interior will eek out the $$$ you paid for it.  (Personally I'm a do-it-yourself-er.  Home Depot, Baby.  Your custom paint job wouldn't mean a thing to me at all.  It's just paint! )  Or the homeowner who has the highest priced house in the neighborhood who refuses to part with their decade old appliances...  really?! If you want to sell in this market, you've gotta be smart about how you do it: Listen to your Realtor.  We know what we are talking about. Make any improvements that they suggest which you can... 07/12/2008

If you are tired of the renting game and ready to become a homeowner, go with a realtor that cares and is fun and will make the experience awesome. Visit my website at www.lanitacates.com and read my testimonials so you know the type of realtor I am. Whether it's Plainfield, Joliet, Naperville, Aurora or the surrounding areas, I can help you find the house of your dreams. I'll bring you home! 07/12/2008