Frankfort, IL Real Estate News

By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Housing affordability continued to be near record highs in the second quarter, hovering near its highest level in the 20-plus years it has been recorded, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.  About 72 percent of all new and existing-homes sold in the second quarter of the year were affordable to families earning the national median income of $64,200, according to the index. The record high remains 74.6 percent, which was reached last quarter.  "At a time when home ownership is within reach of more households than it has been for more than two decades and interest rates are at historically low levels, the sluggish economy and the extremely tight credit conditions confronting home buyers and builders remain significant obstacles to ...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
WASHINGTON – The U.S. Department of Housing and Urban Development today launched a new web-based mapping tool displaying the location of all foreclosed properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA).  These foreclosed homes collectively account for nearly half of all real estate-owned or REO properties in the U.S.  HUD’s REO Portal is intended to help local communities, homebuyers and responsible investors to acquire these properties and accelerate efforts to stabilize local housing markets.    This new mapping tool will be of particular help to those communities employing HUD’s Neighborhood Stabilization Program (NSP) in the targeted acquisition, rehabilitation and/or demolition of these REO properties.  The REO Portal’s consolidated graphic lis...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
WASHINGTON – On October 1, 2011, the Federal Housing Administration (FHA) will implement new single-family loan limits as specified by the Housing and Economic Recovery Act of 2008 (HERA).  As a result, FHA will reduce loan limits in the highest cost metropolitan areas of the country while limits would remain unchanged in most other parts of the nation.  Read FHA’s mortgagee letter detailing the agency’s new loan limits. These new loan limits were scheduled to take effect in January of 2009 but continuing strains in credit markets led the Congress to delay implementation.  The result has been nearly three years of higher loan limits for some areas based on the Economic Stimulus Act of 2008 (ESA). Forward Mortgages Barring any new action by the Congress, many affected areas will have low...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Repair wood floors and scratches that make rooms look worn out. We’ll show you easy ways to put the luster back into your floors. Camouflage scratches Take some artistic license to hide minor scratches in wood floors by rubbing on stain-matching crayons and Sharpie pens. Wax sticks, such as Minwax Stain Markers, are great scratch busters because they include stain and urethane, which protects the floor’s finish. Don’t be afraid to mix a couple of colors together to get a good match. And don’t sweat if the color is a little off. Real hardwoods mix several hues and tones. So long as you cover the contrasting “white” scratches, color imperfections will match perfectly. Homemade polish Mix equal parts olive oil and vinegar, which work together to remove dirt, moisturize, and shine wood. Pou...
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By Todd Groskreutz
(Quantum Building & Design, Inc.)
Yes, the local real estate market is "slow" but we are comparing it to the BEST market of ALL TIME!  You can throw around all the statistics you want about home many % the market is down but what it really boils down to is what is happening RIGHT NOW in the local market. Having built over 30 new custom homes in Frankfort IL in the past 4 years it is our job to know what the local market is REALLY doing.  Here are some of our observations for the Frankfort IL new home market: Traffic is pretty light - but those out looking are very serious about buying/building a new home When the weather finally got better there were quite a few of the best homes that sold, most for approx 95% of the listing price.  The homes that are clean, fresh, have good ammenities and custom features are the ones s...
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By Tim Ireland
(Midland States Bank)
Active ListingsList Price Range# ListingsAvg. Days on MktLess than $149,9996337$150,000 - $199,99910110$200,000 - $249,99935206$250,000 - $299,99941152$300,000 - $349,99927168$350,000 - $399,99941178$400,000 - $449,99940187$450,000 - $499,99949130$500,000 - $549,99927201$550,000 - $599,99935249$600,000 - $699,99951267$700,000 - $799,99924221$800,000 - $899,99914303$900,000 - $999,9999280$1,000,000 - $1,999,99912145  Active Listings Summary# UnitsAvg. MTMedian List PriceAvg. List PriceMax. List PriceMin. List PriceTotal Volume421199$466,900$501,223$1,899,999$130,000$211,014,733  Sold PropertiesSold Price Range# ListingsAvg. Days on MktLess than $149,9994758$150,000 - $199,99911258$200,000 - $249,99924779$250,000 - $299,99915683$300,000 - $349,999124109$350,000 - $399,999134124$400,000 - ...
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By Susan Miller
(Ravinia Realty & Management LLC)
Frankfort, IL Real Estate MarketFrankfort is located in Will County, IL. It is a Southwest Suburb of Chicago and offers many of the suburban amenities home buyers are looking for in their next home.  Frankfort has its roots from the 1860's and offers an older downtown area with vintage charm from the early settlers.  Today, Frankfort is considered a "Jewel of the South Suburbs" because of the thriving community with commerical & residential development in one of the fastest growing communities in the county.Frankfort Homeowners have great pride in their highly rated schools: Summit Hill School District #161 & Frankfort School District #157C . And also is located in Lincolnway High School District.We continuously monitor the local real estate statiscis to keep our clients informed and ah...
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By Tony Reyes
(RE/MAX Professionals South)
Old Plank Road Trail in Frankfort, Illinois provides over 20 miles of a picturesque bike path and provides access to the historic downtown district. The Village of Frankfort hosts its annual "Get Hooked on Frankfort" Fishing Derby for youngsters at the Prairie Park. The village of Frankfort was also recognized by USEPA and Chicago Wilderness for its commitment to preserve, restore and create native prairie. Visit my Frankfort Illinois Real Estate website and search Homes in Frankfort, Frankfort Townhomes and Condos for sale.
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By Tony Reyes
(RE/MAX Professionals South)
Frankfort, Illinois is located in Will County with a population of over 15,000 residents. Positioned just 35 miles southwest of Chicago, Frankfort Homes offer small city charm with amenities of a big city nearby. Ideally situated at the intersections of Illinois State Routes 45 and 30, Frankfort also offers easy access to Chicago area highways including interstate 80 just two miles north and interstate 57 three miles to the east. The proposed I-355 extension will give Frankfort direct access to the Northwest suburbs of Chicago. Visit my Frankfort Real Estate website and search Homes For Sale in Frankfort, Frankfort Townhomes and Condos for sale.
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By Tony Reyes
(RE/MAX Professionals South)
Frankfort Real Estate consists of not only single-family homes, Condos, and Townhomes, but also multi-family, commercial, and vacant land for either commercial or residential development. The Frankfort real estate market offers a wide variety of housing and development opportunities from detached single family homes to attached condominiums and townhomes. Single-family homes in Frankfort range in price from $200,000 to nearly $1.5 million. Frankfort condominiums and townhouses range from as low as $150,000 to over $500,000. Visit my Frankfort Real Estate website and search Frankfort Homes, Frankfort Townhouses and Condos for sale.
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