Welcome to 1003 Creek Bend Dr in Vernon Hills! This wonderful home has just been listed for sale on the Vernon Hills Real Estate market and is located in the highly desirable subdivision of Sugar Creek.

Upon entering this stunning piece of Vernon Hills real estate you will be greeted by a 2 story foyer with a curved staircase and gorgeous hardwood floors. There is a spacious dinning room with harwood floors with a porcelien tile inlay, recessed lighting , and custom paint. The living room is located just of the entry and is peaceful retreat to curl up with a good book.

The large family room is perfect for entertaining with a fireplace with gas logs, recessed lighting, a dry bar, and a built-in entertainment center. Just off of the family room is a stunning kitchen with a spacious eating area with plenty of room for the whole family.

The kitchen has a high level of finish with gorgeous granite counter tops, custom solid birch cabinetry, and top of the line stainless steel appliances. There is an island, breakfast bar, and large eat-in area that make this kitchen perfect for entertaining a large crowd.

The master suite in this Vernon Hills home has a generous size master bath with a his and hers vanity, large whirlpool tub, double shower, and his and her walk-in closets.

This is a wonderful home that is perfect for a family looking for a great place to curl up at the end of a long day or for a place to get together and entertain family and friends. This home is situated on a quiet tree line lot, yet is close to amenities like shopping and Metra. Another great feature of this great piece of Vernon Hills real estate is that it is located in highly desirable school district 103 and award winning Stevenson High School.

If you are looking for a new home in the Vernon Hills or Buffalo Grove area  this great home at 1003 Creek Bend Dr. in Vernon Hills has so much to offer and should not be missed. Contact a member of the Sharron Kelley Team today at 847-465-3638 or visit us at www.NorthernIllinoisHomes.com.

Vernon Hills, Illinois

• Vernon Hills – http://www.vernonhills.org/
• Lincolnshire-Prairie View School District 103 -  http://www.district103.k12.il.us/
• College of Lake County – http://www.clcillinois.edu
• Please contact me, Sharron Kelley, today at 847-465-3638, for the latest updates on Buffalo Grove real estate. Click here for free access to the Buffalo Grove MLS, to view all available Buffalo Grove Real Estate, Long Grove Real Estate, Vernon Hills Real Estate and Palatine Illinois Real Estate.

If you either have your Vernon Hills real estate listed as a short sale or are considering listing as a short sale one of the things you have probably wondered about is getting the short sale approved with your lender. All real estate transactions are full of  A LOT of paperwork, but a short sale has even more. One of the most important things in taking your Vernon Hills short sale from “For Sale” to “Sold” is the proper short sale application and having ALL of the paperwork requested in order and complete at the time of submitting.

As a Certified Distressed Property Expert in the Vernon Hills real estate market, I can not stress enough the importance of being organized with the paperwork the bank requests from you when selling your home as a short sale.  Submitting a short sale offer with incomplete information can lead to a denial in the offer. If you are not this far along in the short sale process you are probably wonder what all if this paperwork I keep referring to is. I have put together a list for you below so you can be prepared when you get an offer on your home.

Financial Information

• Tax information
  • Two most recent 1040′s
  • Two most recent W2′s
• 60 days of current bank statements
• 30 days of current pay stubs or commission check stubs
• If self employed-pay stubs or YTD profit and loss statement
• Monthly budget/financial statement signed and dated same day as P&S

It’s time for the Vernon Hills real estate market reports for October 2011. The numbers show that homes sales are up in Vernon Hills, the average sales price this past October was $305,295, down -0.6% from $307,086 in October of 2010 and up 57.2% from $194,229 last month. The median sales price in October was $277,500, down -3.5% from $287,500 in October of 2010 and up 79.0% from $155,000 last month.

Vernon Hills Real Estate Detached Market Report October 2011

Vernon Hills Real Estate Attached Market Report October 2011

Vernon Hills Real Estate Market Action Report October 2011

If you are asking yourself what all these number mean it’s quite simple. Now is the time to buy! Prices and mortgage rates are a record lows and home ownership has is never been so affordable. Below are some links from the leading financial publications out lining why you should get in on the incredible deals available on the Vernon Hills real estate market.

Forbes Magazine: The Next Mortgage Crisis

Wall Street Journal: It’s Time to Buy That House

MarketWatch.com: Now Might Be the Best Time Ever to Buy a Home

JP Morgan Market Insights: Housing: A Time To Buy

If you need help navigating though the Vernon Hills real estate market call Sharron Kelley and her team at Coldwell Banker. The Sharron Kelley Team works every day with buyers and sellers helping them to make the decision that’s right for them. Whether buying or selling Vernon Hills Real estate, the Sharron Kelley Team can help get the job done!

As a Vernon Hills REALTOR® I take pride in providing information about what is going on in Vernon Hills, whether it is about homes, festivals, concerts and more. If you would like more information on Vernon Hills Real Estate, contact me, Sharron Kelley at 847-465-3638 or email me at Sharron@NorthernIllinoisHomes.com. Visit my websitewww.NorthernIllinoisHomes.com for all of your real estate needs.

I’m sure you are asking yourself, “What does all of this mean for me?” You can take a look at the market reports we just posted for the Buffalo Grove real estate market which explain the seller side of the market and ways to approach it. In this blog we are going to look at it from a buyer’s perspective.

If you are looking to buy a home in the Vernon Hills real estate market there has never been a better time. Below is a list of reasons why now is the time to buy:

• Inventory is high
• Prices are low
• Interest rates are at record lows
• Rent prices are up

These are just a few of the reasons to buy now. The Vernon Hills real estate market currently has 108 active detached listings and 112 attached listing available right now. What are you waiting for? Now is the time to get your piece of the American dream.

View Full Year To Date Attached Vernon Hills August 2011 Market Report

View Full Year To Date Detached Vernon Hills August 2011 Market Report

View Full Month To Date Attached Vernon Hills August 2011 Market Report

View Full Month To Date Detached Vernon Hills August 2011 Market Report

As a Vernon Hills REALTOR® I take pride in providing information about what is going on in Vernon Hills, whether it is about homes, festivals, concerts and more. If you would like more information on Vernon Hills Real Estate, contact me, Sharron Kelley at 847-465-3638 or email me at Sharron@NorthernIllinoisHomes.com. Visit my website www.NorthernIllinoisHomes.com for all of your real estate needs.

Do you or someone you know owe more on your Buffalo Grove or Vernon Hills real estate than what it’s worth and don’t know what to do? Have you ever thought about a short sale? Most people don’t know what a short sale is and if they do they have numerous misconceptions. We will list off the top 7 short sale myths for you below.

Myth #1 – The Bank Would Rather Foreclose than Bother with a Short Sale

This is one of the most common misconceptions. The reality is that banks do not want to foreclose on your property because the foreclosure process is incredibly costly. Banks, investors, and even the federal government have all publicly stated that if a person is qualified for a short sale, the deal needs to be considered. Overwhelmingly, banks receive more on their investment through a short sale than a foreclosure.

The qualifications for a short sale include:

1. Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
2. Monthly Income Shortfall – “You have more month than money.” A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
3. Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

Myth #2 – You Must Be Behind on Your Mortgage to Negotiate a Short Sale

While this may have previously been the case, today lenders are looking for verifiable hardship, monthly cash flow shortfall, or pending shortfall and insolvency.

If you meet these three requirements and believe that you soon may be unable to afford your mortgage, act immediately. Any delay could limit your options. Do not wait until the countdown clock to foreclosure has started and you have even less time left.

Myth #3 – There is Not Enough Time to Negotiate a Short Sale Before My Foreclosure

This is a myth that probably hurts homeowners the most. Many do not realize that foreclosure is a process, and that there is time to make decisions that may result in better outcomes.

The foreclosing party—in most cases a lender—can stall a foreclosure up to the final day of the process. Today, many lenders will stall a foreclosure with as little as a phone call from you explaining that you are trying to sell, and almost all lenders will stall a foreclosure with a legitimate contract. For real estate professionals who understand foreclosures and short sales, there is time available until the foreclosure process is complete.

Myth #4 – Listing My Home as a Short Sale is an Embarrassment

It is understandable to have reservations about letting the world know that you owe more on your home than it is worth. However, according to recent estimates, more than one out of eight homeowners in the U.S. is in the same situation. You are to be congratulated for admitting you need help, taking action, and finding a professional who can work with you toward a solution. With recent estimates showing 40-60% of U.S. sales will be short sales or foreclosures, you are not alone.

Myth #5 – Short Sales are Impossible and Never Get Approved

This is a complete falsehood. Are short sales more difficult to execute? Yes. Do you, as a homeowner, need to learn about a new process? Yes. Are they impossible? Absolutely not.

For example, agents with the Certified Distressed Property Expert® (CDPE) Designation receive thousands of short sale approvals on a monthly basis. These professionals have undergone extensive training in methods to help homeowners in distress and process short sales. While there are no guarantees in any transaction, more and more short sales are being approved regularly. This is far from an impossible process.

Myth #6 – Banks are Waiting on a Bailout and Not Accepting Short Sales

You may have heard this, but the reality is that banks (and the U.S. government) are trying to do anything they can, within reason, to avoid foreclosing on properties. It is preposterous to believe they would deny a short sale in hopes that some future legislation would pass and pay them for losses.

Today, more banks are aggressively pursuing short sales and working with agents who understand how to process them. Freddie Mac recently hosted a national training Webinar for real estate agents where they expressly stated the organizational goal of “eliminating distressed assets through modification or short sale.”

Myth #7 – Buyers are Not Interested in Short Sale Properties

This is a myth that potential sellers hear all the time. Thankfully, this is just not true. In fact, many agents are getting calls from buyers who say they only want to look at foreclosure and short sales.

For buyers, short sales and foreclosures have become synonymous with “good deals.” More specifically, international buyers are targeting these properties. Listing with an experienced agent who is educated in the short sale process will provide you with a great chance of quickly seeing a contract on your property.

If you or someone you know find yourself in this situation it is important that you get help and understand that you’re not alone. Sharron Kelley has her CDPE® designation meaning she is certified and trained in all aspects of the short sale process, and knows how to deal with the parties involved in short sales and foreclosures.Call Sharron today, 847-465-3638, and she can explain what options you have, and get you on the path to recovery.

Please contact me, Sharron Kelley, today at 847-465-3638, for the latest updates on Buffalo Grove real estate. Click here for free access to the Buffalo Grove MLS, to view all available Buffalo Grove Real Estate, Long Grove Real Estate, Vernon Hills Real Estate and Palatine Illinois Real Estate.