ofallon il real estate: O'Fallon IL Short Sales and...Pork with Passion! - 10/06/10 07:26 AM
Short Sales...and Pork with Passion
Short Sales first...
To say they are challenging may be a slight understatement...
No matter how many of these we do I still get an immense feeling of satisfaction when we get an approval letter from a bank or better yet... from 2 banks.
Many questions, tactics, approaches surround short sales. And in spite of new regulations they seem to move thru the system sporadically. That said, I love em. There is little else (in my opinion) in this industry that brings this sort of gratification from assisting others.
Helping a … (8 comments)
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ofallon il real estate: Local media, the tax credit and a closer look for O'Fallon IL - 08/26/10 07:48 AM
First a bit of disclosure...
I stopped taking a paper years ago. I view them about the same way I see phone books... a giant and expensive waste of paper. However I do in fact still voraciously read various trade publications along with our local paper online. The big news of late has been that home sales have plummeted 27% from June to July. So effective is social media that I received this news almost a dozen times before a client brought it to my attention in a printed format.
Our local paper managed to regurgitate the same story yesterday (read the … (0 comments)
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ofallon il real estate: RE/MAX Preferred (O'Fallon IL Location) Used Electronics drive - 08/21/10 01:27 PM
THANK YOU O'FALLON!
The first load of used electronics is now on its way to being recycled. Thank you to everyone who dropped off their old equipment...am pretty sure I saw a Commodore 64 in the pile.
We will start collecting for our next drop starting October 1st. Click here for more info.
Our next event will be a canned food drive for the O'Fallon Food Pantry. You can drop off items at the RE/MAX Balloon September 11th 5:30-7:30pm at the Parcs at Arbor Green or at the display. Hope to see you there!
… (0 comments)
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ofallon il real estate: O'Fallon IL Real Estate Market Update June 2010 - 07/18/10 12:30 PM
June 2010 And Mid Year Quarter Real Estate Market update for O'Fallon IL.
Nationwide: More money for troubled homeowners...
The Treasury Department has approved another $1.5 Billion to help homeowners in the five States with the highest levels of foreclosure rates. Arizona, California, Florida, Michigan and Nevada all will be receiving the additional funds. Currently on the table for discussion (and should pass by the end of the month) is another 600 Million for the next five states on the list, North Carolina, South Carolina, Ohio, Oregon, Rhode Island.
Locally:
The end of the tax credit came and went...then … (0 comments)
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ofallon il real estate: Fantastic Ranch for sale in O'Fallon IL (and tax credit close extension) - 07/01/10 05:53 PM
Tax credit extension passes Congress: U.S. homebuyers who are eligible for a Homebuyer Tax Credit now have until Sept. 30 to close the transaction and receive the credit. Congress has extended the closing deadline, which had been June 30, by an additional three months. President Barack Obama is expected to sign the legislation soon. The action affects an estimated 180,000 homebuyers who, because of circumstances beyond their control, had been unable to close on their purchase by the original deadline. Short Sale and REO transactions are holding up many of these closings. Qualified first-time buyers can receive a credit of 10 … (2 comments)
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ofallon il real estate: Tax credit and Road Work...Related? No but read on! - 06/28/10 10:20 AM
An amendment that would have extended the U.S. Homebuyer Tax Credit closing deadline from June 30 to Sept. 30 died with the American Jobs and Closing Tax Loopholes Act of 2010, which also would have extended U.S. jobless benefits. The Senate voted Thursday 57-41 against the legislation.
NAR estimates that as many as 180,000 buyers who went under contract before April 30 could miss out on the credit without an extension.
"Unfortunately, this piece of legislation ended up being very controversial," says Dave Liniger, RE/MAX Chairman and Co-Founder. "We were optimistic when the Senate approved the amendment adding … (0 comments)
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ofallon il real estate: O'Fallon IL Real Estate Update for May 2010 - 06/10/10 07:21 AM
Real Estate market update for O'Fallon IL May 2010
NATIONWIDE:
The results are somewhat mixed on the effect of the Obama administration's program that allows homeowners to modify their current mortgages in an effort to keep them in the home and avoid foreclosure.
By the end of April 2010 roughly 1.2 million mortgages had been given a trial loan modification. Just over 25% of them have already been dropped from the program according to the Wall Street Journal. The two main reasons for being eliminated from the program were:
•1.) Failure to make payments
•2.) Failed to prove they met the requirements … (0 comments)
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ofallon il real estate: O'Fallon IL Real Estate Market Update April 2010 ( The tax credit...did it work?) - 05/10/10 08:31 PM
The tax credit has officially expired and the numbers are pointing to it being a huge success. Nationwide data is not in yet for April however in March home sales were up 21% over the same period last year according to The National Association of Realtors (NAR) Pending Home Sales Index.
First time home buyers made up 44% of home sales in March across the nation. The Pending Home Sales Index reflects signed contracts and not actual closings but is a pretty good indicator of things ahead. The true picture of what effect the tax credit had on the housing market … (0 comments)
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ofallon il real estate: Boston (NRR...Not Real Estate Related) - 04/19/10 07:01 AM
Welcome to Hopkinton!
Congratulations...you ran
You made it. All those cold mornings in the dark, the rain, snow and wind, you ran. While others slept or hit snooze you ran. You ran when you didn't want to, you ran when you felt terrible...you ran. 20 miles (or more) time that could be spent doing other things, you found a way. 4am is a tough wakeup call but you did it... and you ran. When others said "26 miles? I could never do that" you smiled and...ran. Injuries, aches and pains that sideline most people... you ran. You ran...reaching for something, seeking...today. … (2 comments)
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ofallon il real estate: Home for sale in O'Fallon IL! Just in time for the tax credit! - 04/15/10 10:14 AM
… (0 comments)
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ofallon il real estate: The Healthy Abode: Water Conservation in the home - 04/15/10 05:00 AM
Do you realize how easy it is to save water in your home without sacrificing the performance or design of your plumbing fixtures? A simple way to identify high performance, water conserving fixtures is with the WaterSense label. Products that have achieved this label will be at least 20% more efficient than conventional models.
Similar to the EnergyStar program, WaterSense is sponsored by the EPA to protect the future of our water supply and promote water efficiency. WaterSense qualified fixtures must be tested to verify that they not only meet the required flow rate, but also that they perform … (2 comments)
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ofallon il real estate: The State of Real Estate for the 1st Quarter 2010 O'Fallon IL - 04/12/10 06:34 PM
So far in 2010O'Fallon is averaging 20 homes a month closed. Numbers are fairly consistent with January seeing 20 homes close, February was at 18 and March was at 22.
This shows a 7 home increase over the first quarter of 2009.
Additionally average sales price is on the rise over 2009. Average price for homes closed in O'Fallon for 2010 was $178,010 while 2009 was $176,819. Not a huge jump but forward progress.
Price range continues to be dominated by the below $300,000 group.
Of the 60 homes closed … (0 comments)
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ofallon il real estate: TIME! - 08/31/09 05:39 PM
It's running out! Do you know how the first time home buyer tax credit works? … (0 comments)
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ofallon il real estate: O'Fallon IL Real Estate Market Update for JULY 2009 - 08/05/09 01:16 PM
July Market Update for O'Fallon IL
Things are down slightly(10%) from last month, but there are still many under contract so no cause for alarm just yet.
$300,000 still seems to be a ceiling for home sales. Of the 43 homes that closed in July, 91% of them were below $300K. The bulk of the closed homes (34) fell between $100,000-$299,999.
Your re-cap of the last 30 days for O'Fallon IL Real Estate
July 2009
Closed 43 Homes
New Construction: 1 @ $268,348 with a market time of 91 days.
Re-sale: 42 with an average sales price … (0 comments)
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ofallon il real estate: O'Fallon IL May 2009 Real Estate Market Update - 06/03/09 01:12 PM
O'Fallon IL May 2009 Real Estate Market Update
May 2009 had 33 homes close as opposed to only 13 back in January so moving in the right direction. Currently there are 305 homes available in all price ranges. More good news: 52 homes are currently under contract.
Of the 30 homes that closed in May 2009:
29 were pre-owned and had an average sales price of $196,320 with an average market time of 189 days.
1 was New Construction and had a sales price of $254,000.
… (0 comments)
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ofallon il real estate: "Making Home Affordable" - 04/16/09 08:50 AM
In March the guidelines were released that explained in detail what President Obama's initiative means to folks who need the assistance.
This program is designed to help homeowners stay in their home through refinancing or loan modifications as opposed to being forced into a short sale situation or worse...foreclosure.
How to qualify:
You need to owe between 80%-105% of your mortgage.
Your loan must be backed by Freddie Mac or Fannie Mae, many people have no idea. If you don't you can 1-800-7FANNIE or 1-800-FREDDIE to find out.
You must have a conforming loan. This can mean different … (1 comments)
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ofallon il real estate: Taxes too high? How to combat it! - 04/06/09 02:25 PM
Got your attention?
Much has been written and discussed about this issue. For that reason I shall keep this short and sweet.
As most of you know property/Real Estate taxes in O'Fallon IL (actually all of St. Clair County IL) are a bit convoluted. We constantly get email and phone calls with questions requesting assistance in appealing property taxes. So let's take a look first at why/if you might have a legitimate appeal. Below are the two most common issues we have been seeing.
•1.) Is the assessor's value higher than the actual market value of your home? Or, does the … (2 comments)
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ofallon il real estate: O'Fallon IL First Quarter 2009 Real Estate Market Report - 04/01/09 05:50 PM
First quarter Real Estate Market Conditions Update for O'Fallon IL 2009.
50 homes closed in the first quarter of 2009 in O'Fallon IL. Of these 41 were pre-owned or re-sale homes and 9 of them were new construction.
Re-sale (41) homes averaged a $159,468 sales price and were on the market an average of 122 days. New Construction (9) homes had an average sales price of $239,412 and were on the market an average of 153 days.
A look back over the last 4 years paints the picture:
The good news:
There is a fantastic inventory (266) of … (0 comments)
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ofallon il real estate: O'Fallon IL Real Estate and Art Update! - 03/27/09 06:02 AM
So after a few weeks of driving by my curiosity got the better of me. What is this giant wooden horse and who is the guy on the ladder with a chainsaw? After driving by for days my curiosity got the better of me and I stopped. It seems Art is making a return to downtown O’Fallon IL ! David Perez is an artist (among other things) who has recently moved back here from Mississippi. His work is truly amazing and his ability to see a piece prior to carving is hard to grasp. As we spoke he pointed to a … (0 comments)
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ofallon il real estate: O'Fallon IL, the year in Real Estate so far... - 03/17/09 02:01 PM
The new housing numbers are due out shortly so we thought this might be a good time to look at things on a more local level.
Jan. 1, 2009-March 17, 2009.
These are RE-SALE HOMES ONLY.
So far this year (2009) 38 homes have sold with an average market time of 131 days. The most active price range is $200,000-$249,000 with an average market time of 118 days and 6 homes sold.
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For the same time period last year (2008) 52 homes had sold. The average market time was 129 days. The most active price range was $180,000-$199,900 with … (0 comments)
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