Joliet, IL Real Estate News

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)
Trying to Underwrite Your Own Loan               I often have the pleasure of working with well-read, well-informed Borrowers.  Borrowers that have obviously done some homework prior to contacting me ...     Their comments and questions prove they're invested in themselves, their home buying, their financing process, and their success.  They care and it shows.            But as the old saying goes:  "A little bit of knowledge can be a dangerous thing".  And sometimes my Borrower's questions and comments quickly reveal that they've obtained poor or unreliable info ... or conflicting answers elsewhere to their financing and home buying questions.       When this happens, I know I've got some real work to do ahead of me.  As I may have to re-educate my new Borrowers.     Typically, how the...
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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)
     If YOU are a Renter, but Don't Want to Be ...       Day after day, messages via social media and news media constantly show-up regarding the Rent VS Buy debate ...     An article I ran across in Forbes today is a prime example.  It offered some rather startling facts regarding the current cost of renting (6/2015).     The headline read ... "A Record Number of Americans are Spending More than 30% of Their Income on Rent".     Here are 2 statistics from that article that caught my eye:       1.  One in five renting households making $45,000-$75,000 a year are spending more than 30% of their income on rent.       and ...       2.  Meanwhile, it’s good to be a homeowner. The number of households paying more than 30% of their income on housing has declined for three straight years to 39...
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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)
2015 - Joliet Park District's Summer "Concerts in the Park"      The Joliet Park District is once again hosting its annual "Concerts in the Park" during the summer of 2015 ...      Each "Concerts in the Park" is held on the 3rd Friday of the month at: Preservation Park  710 Taylor Street  Joliet        Concert hours are:  6:30 pm to 8:00 pm         The 2015 year line-up includes the following bands:      Friday, June 19th      Tumbleweed                                                   (Eagles Tribute Band)     Friday, July 17th        The Neverly Brothers                                                  (Rock)     Friday, August 21st   Murray Sochat & The Special 20's                                                 (Jazz/Blues Band)     Friday, Sept. 18th      Gina Glocksen Band      ...
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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)
 FHA, VA, and Conventional Loans ...The Waiting Periods       There is a phenomenon at play in the American Home Buying marketplace currently.  Former homeowners that suffered financial catastrophe during the housing crisis (often referred to as "Boomerang Buyers") are asking ...            "How long after my Bankruptcy, Short Sale, or Foreclosure must I wait to buy another home?"       While it's difficult to summarize ALL scenarios in just one article, the following is a breakdown of the "typical" waiting periods in play following major credit events:     Conventional       Bankruptcy (Chapter 7)     * 4 years after Discharge Date      Short Sale     * 4 years after Sale Date/Closing      Foreclosure     * 7 years after Sheriff's Sale Date FHA      Bankruptcy (Chapter 7)     * 2 years...
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By Marco Amidei
(RE/MAX Suburban )
Joliet Market Trends for March 2015Joliet home sales for the month of March rose in volume by 19.4% when compared to last year, while the median sale price rose by 17% from $102,500 to $119,900. The number of Single Family homes sales rose by 17.3%, while the median sale price rose by 19.9% from $100,000 to $119,900. Condo/townhome sales rose by 29.4%, while the median sale price rose by 15.2% from $105,000 to $120,950.» View homes for sale in Joliet   » View all recent sales in Joliet_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than MRED Smart-Fra...
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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)
Rule of Thumb Regarding Mortgages: Inquire and Get the Facts       There's definitely been an upswing seen in the local Chicagoland housing market, as well as many other markets across the U.S.   All good news.     But the positive that's spoken loudest to me as a Mortgage Lender has been the "shape" and level of "approvability" of many of my most recent mortgage applicants.  Many have been better off than they initially thought and represented themselves as.     What do I mean by this?     Simply put, during their mortgage search ... and throughout their actual mortgage process, they've found: They were in a better financial position to obtain a mortgage than they'd believed previous to our talking They've been pleasantly surprised at the number of mortgage program choices available to...
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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)
Returning Home:  The Benefit of VA Loans                  Home.  A small, simple word that wields undeniable impact and emotion ...       After working with many veterans over the years, I've come to believe that U.S. soldiers ... those that have served to protect us and our way of life ... know the meaning and immense power of the word "home" better than most.  And as a result, their desire to have a home to call their own is more keenly felt.     They've more than earned the right.  The VA benefits offered them are their due.  They've put everything on the line.  Helped protect our homes and homeland.  Certainly helping them to buy and enjoy a home of their own is the least we can do in repayment for their sacrifice.       In keeping with that trust ... and in exchange for their servi...
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By Marco Amidei
(RE/MAX Suburban )
Wooded Creek, Joliet, Illinois - March 2015 About Wooded Creek Wooded Creek is a single family home neighborhood built in the early 2000's. Wooded Creek is located in Joliet, Illinois on Black Road east of I55. Average taxes in Wooded Creek $18,539 Average association fees in Wooded Creek $50 ($40 - $60) Average home size in Wooded Creek 5,874 ft2 Average lot size in Wooded Creek 0.38 acres Average year built in Wooded Creek 2003 Homes for sale in Wooded Creek Address Beds Baths Built Price 403 Rookery Ln. 5 4.2 2003 $699,900 406 Reserve Ct. 3 3.1 2002 $469,900 Sales Summary for Wooded Creek  (Mar 11, 2014 - Mar 11, 2015) # of Sales Average Days on Market Average List Average Sale Ratio% 6 149 $286,433 $246,667 86.1% HomesByMarco sold over 300 homes last year Thinking of selling your h...
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By Marco Amidei
(RE/MAX Suburban )
Joliet Market Trends for February 2015 Joliet home sales for the month of February rose in volume by 4.6% when compared to last year, while the median sale price decreased by 19.1% from $95,000 to $76,900. The number of Single Family homes sales rose by 11.1%, while the median sale price decreased by 21% from $97,550 to $77,100. Condo/townhome sales decreased by 26.7%, while the median sale price decreased by 19.4% from $90,000 to $72,500. » View homes for sale in Joliet   » View all recent sales in Joliet _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms ot...
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By Marco Amidei
(RE/MAX Suburban )
Wildflower Ridge, Joliet, Illinois - March 2015 About Wildflower Ridge Wildflower Ridge is a duplex and single family home community built in the early 2010's. Wildflower Ridge is located in Joliet, Illinois south of Theodore Street and east of Plainfield Road. Average taxes in Wildflower Ridge $7,379 Average association fees in Wildflower Ridge $0 Average home size in Wildflower Ridge 2,176 ft2 Average lot size in Wildflower Ridge 0.25 acres Average year built in Wildflower Ridge 2001 Homes for sale in Wildflower Ridge Address Beds Baths Built Price 1308 Tiger Lily Ln. 3 3.1 2001 $254,900 Sales Summary for Wildflower Ridge  (Mar 10, 2014 - Mar 11, 2015) # of Sales Average Days on Market Average List Average Sale Ratio% 6 314 $189,433 $163,167 86.1% HomesByMarco sold over 300 homes las...
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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)
What Does 580 + 43 Equal?   MORTGAGE APPROVAL!          Credit Scores of 580 or higher ... and Debt-to-Income Ratio of 43% or less ... mean FHA Buyers can obtain Mortgage Approval.        Other qualifying factors such as:     Employment/Income Stability  Down Payment  Acceptable Credit History  No major credit events, etc.           ... are also required to meet or exceed current guidelines.      This is good news for First-Time Home Buyers.  And anyone else that may have suffered some minor setbacks on their credit ratings (but otherwise have contributing financial factors in good shape).         While other Mortgage Lenders were still requiring Credit Scores above 640 on FHA Loans, I've been offering the above Mortgage option for Buyers in the 580 to 639 Credit Score range for quite s...
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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)
  How Choosing the Right Lender  Can Make a Big Difference      Mindset.  Mood.  Outlook. Funny how the human mind works ...       Saturday night we headed into the northern part of the City to visit family.  What really stood out that night was the number of people walking or riding bikes.  There'd been fewer out over the last few weeks, driven indoors by the sub-zero temps.       There was still plenty of snow on the ground. Temps aren't allowing it to melt.  But the air seemed almost warm.  To our minds, it seemed near balmy.       Yet just one short month ago, we'd probably thought the very same temperatures brutally cold.  The recent bitter cold had quickly re-set our inner thermometers, as well as our mindsets.  Our perception is now totally different.     So, what does all this h...
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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)
Hollywood Casino Snocross National -  Route 66 Raceway - Joliet,  February 20th & 21st, 2015         Have you heard the old saying ...  "If you can't beat 'em, join 'em?"     Well, the saying definitely goes for weather ...     Last week's big snow dumped 19 to 20 inches of the fluffy white stuff on much of the Chicago - Chicagoland area.       This week's cold temperatures ensures that the mounds of snow now on the ground will remain with us for quite some time.     So what can you do to manage or have some fun in all that snow?       Have fun!       Head to  Route 66 Raceway  for the AMSOIL Championship Snocross inaugural Hollywood Casino Snocross National being held Friday, February 20th and February 21st, 2015 at the Route 66 Raceway located at:  3200 S. Chicago Street, Joliet, IL. ...
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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)
  Do You Know What Your Mortgage Interest Rate Is?        An article I read today quoted a remarkable survey finding.  It reported that a whopping 35% of American mortgage holders are unaware of the interest rate they currently pay on their home loan.      35%!  1+ out of 3.  Unsure of what interest rate their largest debt payment is based on.     If this is true, it only makes sense to also assume that:  Those mortgage holders that don't know their present interest rate, also don't know if their interest rate could be improved upon via a new refinance of their mortgage.       I question:  Why anyone would pay more than they have to for anything?  Let alone on their largest monthly expenditure?       The good news regarding this is:  There's a simple solution to this dilemma ...       I...
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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)
In the Mortgage Process? Follow These 10 Commandments          There's an abundance of info available for Home Buyers looking to be Pre-Qualified and Pre-Approved for a Mortgage.  And that's great ...         Gaining financing info is the first step towards successful home buying ... and perhaps the most crucial.        Let's face it.  The majority of home purchases today depend on it.              But what are some of the things that you as a Buyer should be aware of and concerned about while your loan is being processed?         How can you help your processing stay on-track and successful?         First, Buyers (and those Refinancing) must understand that the "work" is not done when you reach Underwriting.  You may still be called upon to answer questions from your Lender.  And furth...
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By Marco Amidei
(RE/MAX Suburban )
Lakewood Prairie, Joliet, Illinois - January 2015 About Lakewood Prairie Lakewood Prairie is a subdivision of duplex and single family homes built by Lakewood Homes between 2006 & 2013. Lakewood Prairie is located in Joliet, Illinois east of Ridge Road and south of Theodore Road. Average taxes in Lakewood Prairie $5,896 Average association fees in Lakewood Prairie $51 ($37 - $175) Average home size in Lakewood Prairie 2,924 ft2 Average lot size in Lakewood Prairie 0.00 acres Average year built in Lakewood Prairie 2012 Homes for sale in Lakewood Prairie Address Beds Baths Built Price 7801 Mossheather Dr. 4 4.0 2007 $400,000 1117 Stonecrop Ln. 2 3.1 2006 $139,000 911 Angelica Cir. 4 2.1 2006 $264,900 1508 Bellflower Lot# 423 Ln. 4 2.1 2014 $329,910 1509 Bellflower Lot# 409 Ln. 4 2.1 2014...
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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)
  50% of Homebuyers Don't Do This.  Will You?            The first article I read this morning stated ...      "Americans may be spending more time shopping for shoes than for a mortgage, a report from the Consumer Financial Protection Bureau suggests. Almost half of consumers seeking a loan to purchase a home do not shop lenders, the agency said Tuesday."               (" Nearly half of  home buyers don't shop for a mortgage") Diana Olick | Kelley Holland       From experience, I can't say that statistic surprises me.  I've written on that topic before.     In previous posts, I've provided a roadmap of sorts and examples of important questions for prospective Buyers/Borrowers to ask when searching for a Mortgage Lender/Mortgage services in the Chicagoland area too.  They'll serve you w...
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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)
My Top 6 Posts - Gene Mundt, Mortgage Lender             Now that I've been blogging for well over a handful of years, I have a real "library" of articles and topics I've addressed ...       During this time I've also had a chance to analyze just which of those topics my followers have thought they gained the most from ... and those posts they found most interesting.     I've been happy to discover that my readers respond in largest numbers to posts that are educational in nature. Why?  I see informing and educating clients/readers (and my referral partners) as one of my most important responsibilities ... and admittedly, I've view myself as a "teacher" of sorts.     Below you'll find my Top 6 most-read posts (not listed in any specific order).  Each post provides beneficial informatio...
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6901 Riley Dr., Joliet, IL 60431  List Price: $179,900 Beds Baths Built Sq.Ft. Garage Taxes On Market 4 1.1 2003 1,850 ft2 2 $4,335 2 days Fabulous home w/so much to offer! 4 bedrooms! Large room sizes w/generous closets! Eat in kitchen w/stainless steel appliances! Super spacious family room! Master has tray ceiling & large walk in closet! Ceiling fans in all rooms! Full basement for you to finish, already plumbed for bath! Big fenced yard features paver patio & above ground pool w/deck! 2 car attached garage! This is one you'll want to see! Subdivision: Cumberland South MLS #: 08810215 Room Size Level Flooring 3rd Bedroom 13x12 2nd Level Carpet 2nd Bedroom 14x12 2nd Level Carpet Living Room 12x14 Main Level Carpet Family Room 24x13 Main Level Carpet Master Bedroom 14x14 2nd Level Car...
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By Marco Amidei
(RE/MAX Suburban )
6901 Riley Dr., Joliet, IL 60431 List Price: $179,900 Beds Baths Built Sq.Ft. Garage Taxes On Market 4 1.1 2003 1,850 ft2 2 $4,335 2 days Fabulous home w/so much to offer! 4 bedrooms! Large room sizes w/generous closets! Eat in kitchen w/stainless steel appliances! Super spacious family room! Master has tray ceiling & large walk in closet! Ceiling fans in all rooms! Full basement for you to finish, already plumbed for bath! Big fenced yard features paver patio & above ground pool w/deck! 2 car attached garage! This is one you'll want to see! Subdivision: Cumberland South MLS #: 08810215 Room Size Level Flooring 3rd Bedroom 13x12 2nd Level Carpet 2nd Bedroom 14x12 2nd Level Carpet Living Room 12x14 Main Level Carpet Family Room 24x13 Main Level Carpet Master Bedroom 14x14 2nd Level Carp...
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