Foreclosures and Short Sales are plentiful in todays challenging real estate market. If you are an investor or a first-time home buyer, foreclosures or short sales are particularly good opportunities, because no home sale contingency is needed and interest rates are low. In the last 5 weeks, I have been working with a first-time home buyer who was interested in purchasing a single family home in Plainfield. They made offers on 6 different homes before they finally had an offer accepted, due to multiple offers on each and every one. One of the homes had 5 offers on it. There is a huge interest in Plainfield foreclosures/short sales currently. A quick search of the MLS today reveals 122 foreclosures, pre-forclosures or short sales in Plainfield alone. Because of the interest in these homes, my business partner (Shantel Shimkus) and myself are planning a "foreclosure bus tour" to be accompanied by a short educational presentation to the public where we would explain the basics of purchasing foreclosures,etc.Real Estate Attorneys and lenders will be participating to answer your questions. We are still in the planning stages at this point, but are tentatively planning the bus tour for Saturday May 16, 2009. All participants will be required to register, because seating will be limited. Depending on the interest levels, additional bus tours will be offered, which will include Naperville area foreclosures as well. Watch for updates on the "Foreclosure Bus Tour" on my website www.foxvalleyhomesonline.com. I would love to hear feedback from you.
Diann Carey, Baird & Warner diann.carey@bairdwarner.com 815-761-7918