The Naperville Real Estate Voice - Local Real Estate News and More...

Mr. President, stop throwing money at the housing industry, that isn’t the problem

Wed, 10 Mar 2010 10:59:35 -0600

Todd makes a great point here. The banks are the problem, not the homeowners.

Via Todd Clark (Broker) (503)524-9494 (Beaverton, Oregon Real Estate Expert) (All Brokers Real Estate):

By Todd Clark (Broker/Sales Coach) 503-524-9494

This morning I read a report that the President says the problem with the housing industry is short sales and he wants to fix it. I thought GREAT, ABOUT TIME! But then I read the article and quickly I realized that our President has no clue about what is going on with the housing industry. As with most politicians he thinks if we throw money at a problem, he thinks it will go away.

You see, the President says the problem with short sales is that the sellers don’t want to move out and that he is willing to offer $1500 to home owners to move out, so they can have money to move. WHAT? Since when do we have a problem with sellers not wanting to move out? Does he not realize what a short sale is? A short sale is where a seller puts his home on the market because he knows he is in trouble and wants to move. Now, I think this is going to be a huge chance for fraud!

You see, the real problem with short sales is the banks are taking so long to respond that the home ends up going in to foreclosure and that is when the sellers are refusing to move out. They tried to do a loan modification, they tried the short sale… the banks are the problem, not the sellers.

I think we are going to see a lot of sellers take advantage of your $1500 program and actually create the problem of sellers not moving out until they get their $1500 a real thing. Mr. President, if you want to fix the problem, make it so the banks have to respond to short sale offers submitted to them within 30 days of being submitted. (The reason I say 30 days, is so that gives them time to do a BPO or an appraisal) If they don’t respond within the 30 days, they have to give a $500 a day credit to the home owner that will go toward back payments and principle.

I promise, if you do this, as soon as the banks realize that they are getting people out of default with their delays, the short sale problem will go away.

Todd Clark - Broker / Sales Coach
All Brokers Real Estate
Phone: (503)524-9494
Fax: (503)622-8739

Beaverton Oregon Homes for Sale, Beaverton OR homes for sale, homes for sale in zip code, 97006, 97007, 97008, 97005, 97223, 97224, 97124, 97123, Beaverton Oregon Realtor, Beaverton OR Realtor, Beaverton Oregon MLS Search, Beaverton OR MLS Search, 1st time home buying expert, short sale expert, avoiding foreclosure in beaverton, helping families home, LivingBeaverton, Townhomes for sale, home for sale, house for sale, Merlo Station, Hart Neighborhood, Greenway Neighorborhood, Sexton Mountain Neighborhood, Aloha Neighborhood, Lexington Neighborhood, Cooper Mountain neighborhood, Sorrento neighborhood, Murrayhill Neighborhood. Beaverton Oregon Real Estate, Beaverton OR real estate, Todd Clark, (503)524-9494, WWW.LivingBeaverton.com, www.IFoundYourNewHome.com, www.SavingyouFromForeclosure.com

©2010 Todd Clark - Mr. President, stop throwing money at the housing industry, that isn’t the problem

Let's Talk About.....West Highlands, Naperville Illinois 60540

Fri, 05 Mar 2010 10:19:43 -0600

West Highlands is located about a mile southwest of Downtown Naperville. The close proximity to town is what makes West Highlands so desirable to many. It's a neighborhood where old meets new - the original homes were built in the 60's and several homes have been remodeled, others have been expanded and still others have been torn down to allow for a larger newer home to take it's place.

West Highlands is a neighborhood where connections are made. Neighbors often stop to talk when dropping off their kids at Elmwood School, walking their dogs or out for a morning run. They might see each other when shopping at the local Naperville Plaza - home to Casey Foods and Trader Joes - or out for an evening walk. Commuters also enjoy the short bus ride to Naperville Station.

Fun is had by many at Gartner Park, it is West Highlands neighborhood park that is enjoyed by all during the seasons. In Spring/Summer different teams will be either be playing baseball or soccer, friends can get together and enjoy a game of basketball. Winter is no exception when young and old enjoy sledding or ice skating.

Now that you know a little something about West Highlands - are you ready to make West Highlands your home?

Search available West Highlands properties

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About Maria: A Realtor with RE/MAX of Naperville, she's been helping home-buyers and home-sellers since 1997. If you have any questions or would like information on any other neighborhood, she can be reached at: mmastrolonardo@gmail.com or (630) 248-6077

Naperville Historic Homes

Thu, 05 Mar 2009 12:29:42 -0600

The Naperville Historic District is located in the older eastern section of Naperville. A special neighborhood that is home to 280 homes featuring a vast array of architectural styles including Four Squares, Cape Cods and stately Victorians. Below is a small sampling of homes that are located in the Naperville Historic District. Naperville's Historic District is also home to North Central College.

Homes available in Naperville's Historic District

Naperville's Murals ~ A Picture of Naperville's History

Fri, 17 Apr 2009 12:43:57 -0500

When driving through Downtown Naperville, you can't help but notice the beautiful murals painted on the side of historical buildings. A picture of Naperville's history.

Within their paint strokes the artists tell the story of Naperville's history. The story of how Naperville was founded in 1831 by Joe Naper and that it is the oldest city in DuPage County.

The murals seem to come to life as we follow the story of the development of Naperville. The settlement of the first families that started the businesses, which then lead to the growth of the rail.

I enjoy hearing stories from true Napervillians - (people that have lived in Naperville for generations), they tell how Naperville once was. They tell stories of how their house was surrounded by corn fields because anything past 75th street was nothing but corn fields. How Downtown Naperville's anchor was a grocery store that has since been replaced with modern stores.

The pictures and stories are reminders of how far Naperville has come, and that within the old and new still lies the history of Naperville.

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Maria Mastrolonardo is a Realtor Associatewith RE/MAX of Naperville and has been assisting home-buyers and home-sellers since 1997. Maria can be reached at (630) 248-6077 or email: mmastrolonardo@remax.net

Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

Amazing Condo Unit! 144 E BAILEY - NAPERVILLE

Thu, 21 May 2009 17:19:28 -0500

Links

Photo Gallery

Description

WELCOME TO AN AMAZING CONDO UNIT*IS THE LARGEST IN COMPLEX THAT HAS HAD A MAKEOVER FOR NEW OWNER* INCLUDING UPDATED KITCHEN W/OAK CABINETS, SOLID SURFACE COUNTERS, NEWER APPLIANCES*CERAMIC FOYER*KITCHEN & DINING ROOM W/PARQUET FLOORS*NEWER AC UNIT*UPDATED FULL BATH W/OAK CABINET & SOLID SURFACE COUNTERTOP*STORAGE & LAUNDRY IN BLDG*SHORT DISTANCE TO TENNIS COURTS, POOL AND CLUBHOUSE*SELLER IS WILLING TO HELP BUYER W/CLOSING COST

Features

Bedrooms:	2
Bathrooms:	1.1
Parking Spaces:	2
Year Built:	1972
Subdivision:	OLIVE TREES
Located on Floor #:	2
Floors in Bldg:	3
School District:	203
Square Footage:	980
Agent Name:	MARIA MASTROLONARDO
Broker:	RE/MAX OF NAPERVILLE
MLS #:	07221711

Location

144 E BAILEY NAPERVILLE IL 60565

vFlyer Id: 2515660

2009 Naperville Fireworks and Surrounding Area Festivities!

Mon, 29 Jun 2009 15:29:40 -0500

The Naperville Ribfest is how Naperville kicks-off the summer, the first of many summer festivities.

Here is a list of Fourth of July festivities that I found for Naperville and surrounding areas. As you can see some towns have their fireworks on July 3rd, not July 4th.

Festivals and Fireworks:

Lisle: Lisle Eyes to the Skies Hot Air Balloon Festival July 2-4

Naperville: The fireworks show is at 9:30 pm on July 4.

Warrenville: The celebration at Cerny Park runs from 5 to 10 pm, with fireworks at the end of the festivities on July 3.

Aurora: The fireworks at Aurora Central Catholic High School begin at 9:30 pm on July 4. There will be family activities for before the show.

Downers Grove: Independence Day Ceremony is at 9:30 at Downers Grove Museum. The parade kicks off at 12:30 pm in Main Street. Fireworks are a 9:00 pm at Lemont Road and 75^th "Street in Downers Grove on July 4.

Glen Ellyn: The fun at Lake Ellyn Park begins at 1:30 with family fun, food, carnival and music by "1969." The fireworks begin at dusk on July 4.

North Aurora: The fireworks show is at dusk at Aurora Towne Center on July 4.

Wheaton: The 2009 parade is the conclusion of Wheaton's yearlong 150^thanniversary celebration, themed "Celebrating Tomorrow." The parade begins at 10 am at Hawthorne and Main Street and travels south. The fireworks show begins at dusk at the DuPage County fairground on Manchester Road east of County Farm Road. The fairgrounds open at 6:30 pm. Arrive early as parking fills up quickly on July 4.

Have a happy and safe Fourth of July celebration!

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Maria Mastrolonardo is a Realtor Associate with RE/MAX of Naperville and has been assisting home-buyers and home-sellers since 1997. Maria can be reached at (630) 248-6077 or email: mmastrolonardo@remax.net

Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

Short Sale Success in Plainfield, IL ~ Short Sales Do Close!!

Fri, 04 Sep 2009 13:21:33 -0500

On Aug 31, my short sale listing in Plainfield IL closed. What seemed to be a long process with many hurdles finally came to an end. In this case, the process took a bit longer because there was a private mortgage insurance company that also needed to approve the short sale. In addition, the bank's negotiator was somewhat unorganized -- let an approval letter and BPO expire -- not good.

The seller owed $260,000, and the short sale was approved for $190,000. It took 120 days from receipt of contract to close.

The success also came from everyone being patient and working together. The buyer's agent was very understanding and great to work with, the buyers were extremely patient -- even had a wedding in between -- the attorneys were the glue that held everything together.

Yes, short sales are a lot of work but in the end, are very rewarding -- with one less foreclosure on the market and to hear the grateful words of seller -- out weighs all the work.

More posts on Short Sales:

Fannie Mae Guidelines favor Short Sales

Short Sale - Do you Qualify?

Short Sales...Not for the Impatient.

Buyers/Buyer's Agents ~ Don't be scared off by Short Sales....

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Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

Aurora Illinois Short Sales ~ Another Short Sale Success Story...

Wed, 18 Nov 2009 11:15:02 -0600

Aurora Illinois Short Sales ~ Another Short Sale Success Story...

Today I am reminded of why I love to sell short sales!

Yesterday my short sale listing in Aurora Illinois closed. It was so rewarding to hear the words of gratitude from the seller. It was rewarding to know that I just helped another person get out of a stressful situation.

This was the quickest short sale closing that I have had to date. I listed the house on September 1, 2009, the seller accepted a contract on October 6, 2009 and it closed November 17, 2009. List to close 78 days.

But I am not taking all the credit, everyone involved worked together as a team. We had an awesome short sale negotiator with Wells Fargo, that was quick to respond and easy to work with. The seller was quick to get all the documents together that he needed and the attorney's office was in constant communication with the lender.

Another successful Short Sale closing!

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Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

4 Bedroom Home for Sale in Amber Fields, Aurora - Aurora Short Sale in Amber Fields

Mon, 15 Feb 2010 11:30:36 -0600

This new Amber Fields listing is a great Short Sale opportunity.

Located at 2521 Lambert Drive, Aurora, IL 60503 is offered as a short sale for $239,000.

This Ryland home built in 2005, has more than 2600 square feet. The home has been perfectly maintained by it's currents owners and has a spacious feel upon entering with it's 9' ceilings. The kitchen is ideal with a center island and plenty of storage with 42" upper cabinets. This home also features 4 bedrooms plus a loft, storage is not lacking in the home since all bedrooms have a walk in closet. Other features include, full finished basement, brick paver patio and large fenced yard.

View More Photos

For more information, please call Maria Mastrolonardo, Short Sale Specialist at (630) 248-6077

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Servicing the towns of: Naperville, Aurora, Lisle, Plainfield, Bolingbrook, Warrenville, Wheaton, Woodridge or other surrounding areas.

NAPERVILLE TOWNHOME~SHORT SALE!~2939 SAGANASHKEE

Fri, 13 Mar 2009 20:38:19 -0500

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Description

UPON ENTERING, ENJOY THE OPEN, SPACIOUS FLOOR PLAN THAT THIS TOWNHOME EXUDES. BEAUTIFUL HARDWOOD FLOORS LEAD YOU TO THE LIVING AND DINING ROOMS. OFF THE LIVING AND DINING ROOMS YOU'LL FIND A DECK FOR YOUR ENJOYMENT. THE GOURMET KITCHEN FEATURES AN ABUNDANCE OF MAPLE CABINETS WITH CORIAN COUNTERS THAT ALLOW FOR AMPLE WORKSPACE.

THE HALLWAY LEADS YOU TO THE SPACIOUS MASTER BEDROOM, WHICH OFFERS A VAULTED CEILING, A HUGE WIC AND A LUXURIOUS MASTER BATH WITH SOAKER TUB AND SEPARATE SHOWER.

THE LOWER LEVEL FEATURES A SPACIOUS FAMILY ROOM WITH EXTERIOR ACCESS, A LARGE 3RD BEDROOM AND FULL BATH. AN EXTRA WIDE DOOR BRINGS YOU TO A FULL-UNFINISHED BASEMENT THAT CAN BE LATER FINISHED ADDING ADDITIONAL LIVING SPACE.

ALL LOCATED IN A COMMUNITY THAT OFFERS A POOL, CLUBHOUSE AND IS CLOSE TO SCHOOLS AND SHOPPING.

Features

Bedrooms:	3
Bathrooms:	2.1
Year Built:	2004
Subdivision:	TALL GRASS
Attached on:	1 Side
Garage Size:	2.5
School District:	204
Square Footage:	1950
Agent Name:	MARIA MASTROLONARDO
Broker:	RE/MAX of Naperville
MLS #:	07160149

Location

2939 Saganashkee Naperville IL 60564

vFlyer Id: 2347882

Procuring Cause - Are we ever going to agree??

Fri, 07 Nov 2008 19:39:12 -0600

I was on Trulia Voices this morning answering a question/comment from a Home Buyer. The question/comment basically was that Mr. Buyer is unhappy with his current agent, he feels that the agent is forceful with him and always asks Mr. Buyer after each and every showing if he is ready to put in an offer. Now the problem is that Mr. Buyer likes a home that the agent showed him but feels uncomfortable having the agent represent him.

So the question was: "I didn't sign a contract with this agent, can I go find my own agent at another firm and buy the place w/o consequence?"

Four agents including myself responded, the majority said that if the agent showed Mr. Buyer the home the agent is procuring cause and is therefore entitled to a commission. But then I came along and said no, ( I always have to be different) if the agent just showed Mr. Buyer the home the agent is not procuring cause, it is the agent that takes the Buyer through the transaction to the close that is procuring cause.

I remember it as though it were yesterday sitting in an Ethics class with the discussion going back and forth for about an hour and the instructor clearly stating that just showing a home is not procuring clause.

I even checked NAR and it states:

"Common misconceptions about NAR's Code of Ethics can lead to unnecessary disputes with fellow practitioners. Example: procuring cause.
Misunderstanding: Showing a property proves procuring cause and entitles you to a commission if your buyer purchases the home.
The real story: Procuring cause is a complex issue, and no one action ensures that you're entitled to compensation after a sale. Appendix II to Part 10 of the Code of Ethics and Arbitration Manual gives a basic definition of procuring cause as "the uninterrupted series of causal events which results in the successful transaction." Neither showing the property nor having a buyer's representation agreement with the purchaser automatically demonstrates procuring cause."

But why can't we agree? Active Rain I would love to hear your comments.

Naperville's Farmers Market

Thu, 07 Aug 2008 18:03:44 -0500

Staying healthy and getting your five servings of fruits and vegetables is made easy at Naperville’s Farmers Market.

Farmers from Michigan (Such an awesome state!) bring in fresh fruits and vegetables, but you need to get there early or you will be left with slim pick-ins (I made that mistake once).

Fruits and vegetables are not the only thing you can buy at the Farmers Market, fresh baked bread, cheese, homemade salsa, honey and all things made with honey, fresh herbs, homemade olive muffalata (reminds me of Italian gardinara) and a lot of beautiful flowers to choose from.

The Farmers Market is open every Saturday from 7 a.m. to 1 p.m. at the Fifth Avenue Station parking lot and runs until Oct 25^th and is sponsored by the Naperville Farmer's Market Association.

Naperville's Summer Fun Kick-Off...

Sat, 05 Jul 2008 10:20:22 -0500

Every year, 4th of July weekend reminds me that summer fun is here and what better way to kick it off then with Naperville's Ribfest. An annual event for nearly 15 years that provides food and musical enjoyment for all.

Ribfest runs from July 3rd - 6th and it's been voted the Best Festival in the Midwest. Including 17 world-class rib vendors; Desperado's BBQ 7 Rib Co, Fast Freddy's Electric BBQ Ribs, Sweet Baby Ray's Barbecue and Catering, Texas Outlaws BBQ, Pigfoot, Aussom Aussie, Butch's Smack Your Lips B-B-Q, Porky N Beans National BBQ Cooking Team, Rasta Joes BBQ, Sgt. Oink's Pit BBQ, Johnson's BBQ, Mojo's Ribshack, Smokin' Joe's Hog Wild Barbeque, Armadillo Rib and Que Company and Howling Coyote Southwest BBQ.

Two music stages provide rock-in entertainment , this year's line up included; Ted Nugent, REO Speedwagon, Joan Jett and the Blackhearts, Trace Adkins, Big Head Todd and the Monsters, The Turtles featuring Flo and Eddie, Foghat and Average White Band.

Carnival fun for all ages.

4th of July fireworks started lighting the Naperville skies at 9:30pm.

If you have never been to Ribfest, come and see what you have been missing. There is still time! Summertime fun is here in Naperville!

Short Sales...Not for the Impatient.

Wed, 28 May 2008 20:52:58 -0500

When dealing with a Short Sale it is best to have patience.

A Short Sale is when a lender accepts less than what the homeowner owes on their mortgage.

But...before the lender accepts the offer several steps need to occur.

The lender will want the property evaluated. The lender will order a Broker Price Opinion which will determine the value.

The lender will want ALL documentation from the homeowner. Any missing or incomplete documents will delay the process.

Lenders are currently overwhelmed with offers, counteroffers and foreclosures. Therefore it is not uncommon for a Short Sale to take anywhere from 45 - 120 days to close.

However for you the buyer, short sales can be a good deal (not a steal) a good deal as long as you are aware of the extra time it takes to close.

Do not go at it alone, because short sales are complicated it is best to have a knowledgeable real estate agent involved.

And remember have patience.

Maria Mastrolonardo

Naperville IL Real Estate Agent

(630) 248-6077

www.maria-mastrolonardo.com

mmastrolonardo@remax.net

Buyer's Market...or is it?

Sat, 10 May 2008 13:20:52 -0500

In order for it to be a buyer's market the seller has to agree to sell.

I am working with a very nice couple, looking to buy their first home. We put offers in on, not one but, two properties this past week. (Not at the same time of course). Both offers were rejected.

The first home needed a lot of work, has been on the market for a year, on the 3rd listing agent and the seller would not work with our offer.

The second home, a little newer but, over priced. The sold comparables showed the same model home, same condition, same location, sold for 20K less than what the sellers are asking. We submitted our offer based on the comparables, but they just flat out rejected the offer.

Unfortunately in both cases the sellers are going to lose. I ran the stats for the area and YTD they are down, 38% units sold, down 12% average sale and down 13% median sale. In speaking to a local agent, the priced are definitely not going up.

I just don't get it. Confused in Naperville.

Your comments are appreciated.