Madison County Real Estate

Connect with the Mississippi River in Madison County, Illinois

Sat, 21 Nov 2009 17:11:18 -0600

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

The poet T.S Eliot, who was born in St. Louis, called the Mississippi River, "a strong, brown god." The river, he said, had a more profound influence on his life and his work than anything else in his past.

Here in St. Louis' Illinois suburbs we don't always embrace the "strong brown god," which is the overwhelming geographic feature of our region, as closely as we should.

Sure we drive across the bridges to and from the neighboring state of Missouri, but aside from remarking that the river looks high or low, we don't pay much attention to the amazing big river that has inspired poets like Eliot, writers like Mark Twain, musicians like W.C. Handy and artists like John James Audubon down through the centuries.

Let's change that, shall we? Next beautiful day this fall, take a drive out to the Old Chain of Rocks Bridge and the Low Water Dam.

The U.S. Army Corps of Engineers has created a terrific parking area at the Low Water Dam on the Illinois banks. To get there, just take I-270 west to the Route 3 exit. Head south on Route 3 and turn west on Old Chain of Rocks Road. You'll cross over a canal onto Chouteau Island and from there will enter the Low Water Dam site. (My husband's family once owned farms on the river island before it was federalized for construction of the canal, so the spot is very special to us.)

You'll see people enjoying themselves fishing or --as I did -- just watching the swirls and ebbs of the swift currents passing by. This portion of the Mississippi is closed to navigation. Barges and boats bypass the area in the Chain of Rocks Canal.

We saw large fish jumping around the shore and a red fox dashing off through the woods. The Mississippi hosts resident and migrating birds all through the year and the bird watching is great here and at the conservation areas near the confluence of the Mississippi and Missouri rivers just a bit north.

Looming over the Low Water Dam is the Old Chain of Rocks Bridge. This structure was the original Old Route 66 span across the Mississippi River. It opened in 1929 as a toll bridge and became part of Route 66 in 1936 to carry cars traveling the Mother Road from its origin in Chicago to the shores of the Pacific Ocean in Santa Monica, California.

Today the National Historic Landmark bridge is open as one of the largest pedestrian and biking bridges in the world. It is owned by the city of Madison and operated by Trailnet, the non-profit organization that promotes active living, maintains and develops trails and anchors projects along the confluence of America's great rivers. You can learn more on Trailnet's site at www.trailnet.org.

Annual events on the bridge include the St. Louis Route 66 Festival on the first Saturday in October, Eagle days in January and a wide variety of bike rides that make use of the bridge. Individuals are welcome to use the bridge for recreation.

Park at the entrance to the bridge on the Illinois side for easiest access. Parking is open on the Missouri side for special events.

You can spot two of St. Louis' most interesting architectural features from the brige deck or from the parking lot at the Low Water Dam -- castles in the middle of the Mississippi.

Built to look like Roman fortress and a Roman villa, the "castles" are actually water intake towers for the City of St. Louis' municipal water system which is located on the Missouri side of the river.

The green-roofed tower was built in 1894 and the other followed in 1915. Originally crews lived in the quarters inside the towers and reached them via a dyke from the shore.Today the unstaffed towers provide water to the waterworks via a pipe system.

(A couple of years ago, St. Louis was voted as having the best tasting municipal water in the nation, so the river castles must be doing something right!)

Enjoy our natural heritage along the Mississippi River. And come back to the blog to let me know what you find along the shores and trails.
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About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas.

Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.

For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.

Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.

About the Author: Kristina Pratt is a REALTOR® with Goshen Realty Group at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.GoshenRealtyGroup.com or e-mail Kristina@GoshenRealtyGroup.com

Homes for Sale in the Historic Leclaire Area of Edwardsville Illinois

Sat, 21 Nov 2009 17:10:24 -0600

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

What started as an innovative company town is now one of the most popular residential neighborhoods in Edwardsville, Illinois.

The Leclaire neighborhood exemplifies the "look" of Edwardsville with its frame or brick homes, many of which were built in the Craftsman style.

The area is always on the radar of potential buyers who ask us to let them know as soon as the neighborhood's properties hit the market.

Here is a list of homes for sale in the historic Leclaire area of Edwardsville.

Founded in 1890 by industrialist N.O. Nelson, the Leclaire area was named for the Frenchman who developed profit sharing and inspired Nelson to create a place where his workers could experience the best possible living and working conditions.

The model town he built provided easy-to-afford housing, a park for recreation and schools for the workers at Nelson's plant which manufactured plumbing materials. Nelson's vision also encompassed his factory's architecture which was designed to provide natural light and fresh air for the workers -- amenities unheard of at a time when sweatshops were more the norm.

The streets in Leclaire were named for the presidents, writers, social reformers and other famous people who had inspired Nelson's new village. The streets maintain their names and their historic homes today.

Leclaire was incorporated into the city of Edwardsville in the 1930s and added to the National Register of Historic Places in 1979.

If you would like to know about Edwardsville's Leclaire homes as they come on the market, just sign up for a property manager account on our web site at www.GoshenRealtyGroup.com.
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About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas.

Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.

For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.

Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.

Homes for Sale On and Around Historic St. Louis Street in Edwardsville

Sat, 21 Nov 2009 17:10:08 -0600

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

Wide, tree-lined and dotted with lovely homes, St. Louis Street marches through the heart of Edwardsville, Illinois and into the hearts of most residents of the Land of Goshen.

Buyers often ask us to keep an eye out for properties as they become available on or near this lovely neighborhood.

Here's a link to properties that are currently for sale on or near historic St. Louis Street.

Originally a farm road, the street was renamed Fairgrounds Road when a long-forgotten agricultural fair site was built on the outskirts of town. Later the thoroughfare became known as St. Louis Street.

Edwardsville began seeing the construction of stately homes along the route as early as the 1850s.

Today, the homes along the street reflect popular architectural styles from the Victorian period through more modern times. You'll see Federal, Queen Anne, Dutch Colonial, Greek Revival and Italianate sharing the neighborhood with a Prairie-style home built just after the turn of the 20th century and more contemporary offerings from Tudor Revival to classic suburban ranches.

Just off St. Louis street, buyers will find a wide range of affordable homes on both the north and south sides of the historic street. Those areas are reflected on the above link as well.
___________________________________________________________________________________________________

About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas.

Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.

For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.

Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.

First-time Sellers - You Are Ignored No More

Fri, 20 Nov 2009 21:37:59 -0600

First-time buyers get all of the attention, don't they? They get tax credits, have special programs designed especially for them and they have agents market directly to them. That doesn't seem fair, does it?

Well, first-time sellers rejoice! You are no longer being ignored. I get it. First-time buyers eventually turn into first-time sellers. What happens when you're ready to move-up or you outgrow your current digs?

An agent was there to help you through the buying process, but what now? Do you stick a For Sale By Owner sign in the yard? Do you call the agent that helped you buy the house? Maybe you'll check out Zillow to get an idea about what your house is worth. Should you talk to more than one agent? How on Earth do you manage the details in getting your house sold while at the same time finding a new one?

It's confusing, overwhelming and frustrating, isn't it? That's why hiring an agent is your first step. But not just any agent... an agent that understands the specific needs of first-time sellers.

Agents that have experience with your particular situation are an invaluable ally to have on your side. When helping first-time sellers, I realize that you have lots of questions and need me to devote more of my time to you. I won't just list your house, stick a sign in the yard and never speak to you again. I'll return your e-mails, texts and calls. I love connecting with you on social networking sites like Twitter and Facebook. And when your house goes under contract, I'll be there with you step by step through financing, inspections, appraisals and closing.

By the way, I didn't mention that you might be eligible for the expanded home buyers tax credit. You could qualify for a $6,500 tax credit to purchase your next home. Cool, huh? Want details? Text, e-mail or call me anytime.

FHA 203K Streamline Renovation/Purchase

Thu, 19 Nov 2009 18:08:43 -0600

Ken Cook, a lender in Georgia explains the FHA 203K loan in a way that makes sense. Thanks so much for allowing me to share this information on my blog, Ken!

Via Ken Cook, FHA Home Loans 678-439-8683:

So you or your client have found a home in a great area in the client's price range. Only one problem: it's in bad shape. The HVAC system is 50 years old, the roof is 40 years old and the windows may as well not even be closed. Plus the kitchen has vinyl floors in 3 different patterns and the counters are all laminate with burns and holes and scars.

Not to fear! Meet the FHA 203K Streamlined renovation loan.

Eligible Improvements Virtually any kind of improvement is eligible provided it becomes a permanent part of the real property and adds value.

Additions to the structure

Kitchen or bath remodels

Finished basement or attic

Patios, decks or terraces

Roofing and landscaping

Safety, energy efficiency and electrical upgrades

Handicapped accessibility improvements

Luxuryitems are not eligible

Swimming pools, hot tubs, tennis courts, gazebos, barbecue pits, saunas or alterations to support commercial use

The maximum loan amount must be within the FHA loan amount maximum for the MSA where the home is located and must include the purchase price and the renovation amount. The maximum renovation amount is $35,000 and the minimum is $5,000. Under $5,000 we can do with an escrow of repair funds. A minimum of 10% contingency reserve is required and must also fit into the FHA loan maximums for the area where the property is located. (Any balance remaining on the contingency will be applied to the principal balance and may not be used for additional repairs.)

Yes, it takes a little longer to close an FHA203k Streamline loan than it does to close a standard FHA loan. If you are an agent and you are concerned about that extra couple of weeks just think of it this way: You may make a sale you would not have otherwise made. You may help a buyer get into a home in the area where they wanted to live instead of where they "had" to live. You can be a real hero for someone.

If you are in Georgia I can help you with the necessary paperwork and give you a short class in how to use the FHA 203K Streamline Rehab loan to purchase, sell or represent homes in today's economy. Never hesitate to call me at any time and I'll be happy to answer your questions.

Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683

Cheating On Your Agent

Wed, 18 Nov 2009 21:39:25 -0600

Everything was perfect. I had a first time buyer that was pre-approved and motivated to find their dream home. We spent countless hours together. He relied on my expertise and market knowledge, and I happily showed him house after house. We met for consultations.

Then we wrote two offers together. One finally got accepted, but the whole house inspection turned up sour, so we began the process over again. I thought everything was going great. Until the phone call...

John: "Hi, Kristina? This is John Doe. Did I sign anything with you saying I had to buy a house through you?"

Me : <stunned silence> "Umm, well not specifically. Why?"

John: "Well, I knew you had family obligations today so I was driving around on my own. I drove past one of the houses you e-mailed me, and I really really liked it. So, I called the agent on the sign. She came out right away and showed it to me. And you know, what? She told me I could actually get a better deal if I bought directly from her. We went straight to her office and wrote an offer and guess what? It got accepted by the sellers! Isn't that awesome? I just wanted to tell you thanks for all your hard work. I'll send you a Christmas present."

<click>

I felt like the wife that just found out her husband cheated on her. Did the buyer know any better? Probably not. He wasn't trying to keep me from getting a paycheck. He simply didn't know - because I didn't tell him any different. He thought I would be sincerely excited that he got the house he wanted. Did the agent know better? Probably, or he wouldn't have asked me if he had signed anything.

This was back in 2005, when I first got my license. Since then, I've found that I have to be the one to educate my buyers. Although I've still had a few buyers get cold feet, their financing falls apart, or they just flat out change their minds - I rarely have a buyer call the agent on the sign.

So how do you keep your buyer from straying? It's simple - just educate them about the process. If you don't focus on building a relationship with your buyer and explaining to them that they have responsibilties in the process too, who will? The answer is either no one or another agent. Remember, most buyers (especially first time buyers) don't know the inner workings of real estate. These are the five key points I tell all of my buyers.

1. Don't call the agent on the sign. I will do everything in my power to be available during the times that you need appointments, but I'll need some notice. If I can't show you homes at that time, my partner can.

2. I'm your advocate. I'm looking out for your best interests, and I want to get you the best deal. I'm on your side in this process and we are a team.

3. I don't get paid a salary, or per house I show. I only get paid when you buy a house.

4. I'm making a commitment to you to share my time, expertise and market knowledge. I need you to make a commitment to me that I am your agent. (After a few showings or when it's time to write the first offer, this is when I bring out the buyer's agency agreement.)

5. If we work together, we can have a successful outcome.

The key point is this - Never forget that although we do this every day, not everyone does. It may seem simple to us, but to others it's not. Help your buyers understand how the process works - it's not just for your benefit, but for theirs.

Questions about the home buying tax credit? Video from RE/MAX

Wed, 18 Nov 2009 12:47:34 -0600

As if the first round of tax credits for first time buyers wasn't confusing enough, now the credit has been expanded to include some move-up buyers. (Also, great news for our military currently serving overseas - you have a longer time frame to use the tax credit).

If you have questions about how the tax credit works, check out this video from RE/MAX. Then, give me a call or shoot me an e-mail to talk about your next place.

Glen Carbon Home Prices - Closings for Sept/Oct '09

Thu, 12 Nov 2009 14:53:44 -0600

32 homes sold in Glen Carbon in September and October of '09. 4 of these homes were new construction with an average sales price of $194,317 and average days on the market of 152. 28 resale homes had an average sales price of $187,729 with 142 days on the market.

Address/List Price/Sell Price

7028 AUGUSTA DR $205,000 $203,000

110 BAYHILL BLVD $165,000 $163,000

212 BAYHILL BLVD $170,000 $165,000

107 BAYRIDGE $179,000 $168,000

134 BIRGER $109,900 $108,500

2809 BRISTOL WAY $294,900 $250,000

78 DEPOT DR $157,000 $152,000

6 DUNSTON TR $224,900 $165,000

7027 GABLE $239,900 $235,000

110 GINGER CREEK PKWY 9 $126,900 $123,000

6 GINGER WOOD ESTATES $600,000 $592,500

731 GLEN CROSSING RD $209,900 $179,500

182 HILLCREST DR $159,900 $155,000

14 JENNIFER DR $189,900 $186,000

6 JULIE DR $184,900 $182,500

195 S MAIN ST $99,900 $101,000

100 MARK TRAIL DR $129,000 $125,500

924 MARK TRAIL DR $179,500 $179,500

17 MATTERHORN DR $199,999 $185,000

157 MUNZERT $144,900 $141,500

35 NORSPUR $133,150 $133,150

110 OAK RIDGE ESTATES $199,500 $195,000

9 OAKDALE LAKE $169,900 $168,000

26 W OAKSHIRE DR $243,000 $232,500

51 RED BUD LN $179,900 $177,000

31 SUNSET DR $54,900 $50,000

47 WATERFORD LN $210,000 $200,000

128 WILLOW BEND DR $249,900 $238,000

45 WOLFE CREEK CT $310,000 $290,000

308 ABERDEEN DR $219,900 $209,000

7 CAROLYN $179,900 $176,000

109 WALDEN $409,900 $389,000

Edwardsville Home Prices - Closings for September/October '09

Thu, 12 Nov 2009 14:43:18 -0600

As part of our Goshen Realty Group neighborhood updates, here is a list of all Edwardsville homes that sold in September and October of 2009.

85 homes were sold. The average sales price was $210,856 and the average days on the market was 141.

Address/List Price/Sell Price

3003 SUNSET HILLS BLVD $620,000 $592,000

5 FOX HOLLOW $549,900 $525,000

5330 FOX CIRCLE DR $425,900 $400,000

888 MALIBU WAY $475,000 $440,000

2710 HUNTERS RIDGE $279,900 $255,000

124 CHATTANOOGA CT $334,900 $318,500

1806 LINCOLN KNOLLS DR $328,000 $316,000

104 POPLAR CT $314,900 $308,000

3 CHURCHILL CT $244,900 $241,500

7008 STONEY CREEK DR $245,000 $240,000

1398 BRITANY CT $239,900 $229,000

445 EAST LAKE DR $269,900 $275,500

225 BELDEN DR $235,000 $219,500

1404 BRITANY CT $169,900 $181,500

901 CHADERIC CT $259,900 $250,000

7007 MISSIONARY RIDGE CT $257,500 $253,000

2805 FALCON CREST DR $214,900 $205,000

567 EAST LAKE DR $235,000 $180,000

1516 GERBER RD $269,900 $250,000

2714 CABIN CREEK CT $224,000 $217,900

2606 HUNTERS RIDGE $224,900 $210,000

1508 COLES CT $225,000 $205,000

7001 STALLION DR $214,900 $205,000

7007 STONEY CREEK $229,000 $214,000

3461 MANASSAS DR $269,000 $265,500

1312 RANDLE ST $161,900 $159,000

218 CIRCLE $149,900 $146,500

7343 PIN OAK $279,900 $275,000

5017 INDIAN HILLS DR $254,900 $254,900

6820 WHITE OAK CT $175,900 $167,550

883 MALIBU $249,900 $225,000

1161 SAN JUAN $349,900 $338,500

7354 GREEN HEDGE $219,900 $206,500

1923 APPLEGATE $180,000 $169,000

31 TIMBER MEADOW PL $225,000 $210,000

7017 STONEY CREEK DR $209,900 $201,000

843 PRICKETT $199,900 $192,000

501 N BUCHANAN ST $189,900 $182,500

8 NORWOOD CT $209,900 $190,000

74 CHRISTMAS TREE PT $249,900 $230,000

847 SLIPPERY ROCK DR $145,000 $133,000

924 HOLIDAY POINT PKWY $199,900 $190,000

852 NEWPORT BAY DR $254,900 $238,000

6818 STONEY CREEK DR $209,900 $199,000

573 CLOVER DR $164,900 $155,000

139 HOLLYHOCK LN $229,900 $223,500

1284 KEYWEST DR $137,900 $137,500

8 EAGLE CT $229,900 $219,000

1207 LINDENWOOD AVE $149,900 $144,000

837 MADISON $124,900 $123,000

1322 CARRIBEAN DR $139,900 $138,900

106 MAPLE ST $154,900 $142,000

36 SW SHORE DR $234,900 $215,000

719 N BUCHANAN $134,500 $131,500

542 OAK HILL DR $147,900 $145,500

140 E DUNN ST $137,900 $137,500

4843 INDIAN HILLS RD $175,000 $175,000

1540 GRAND AVE $144,500 $140,000

925 TROY RD $109,900 $108,500

612 DEWEY AVE $149,700 $147,500

933 WHIPPOORWILL $190,000 $180,000

320 MONTICELLO PL $182,900 $173,000

1131 NASSAU DR $169,900 $168,500

4620 HORSESHOE LN $96,500 $79,800

512 GUELTIG AVE $130,000 $124,000

7577 JERUSALEM RD $145,000 $127,000

263 COVENTRY PL $164,900 $158,500

445 TAMARACH DR $134,900 $134,900

721 SHERIDAN AVE $124,500 $117,000

823 PRICKETT AVE $67,900 $66,000

739 AMHERST $141,000 $136,000

1415 MADISON $139,000 $134,000

408 N BUCHANAN $127,900 $125,000

5835 OLD POAG RD $119,900 $114,500

529 DEWEY AVE $109,900 $103,900

743 VOGE AVE $24,900 $24,000

634 VOGE $75,000 $60,000

4366 BOHM SCHOOL RD $114,900 $107,500

801 LANCASHIRE $83,900 $75,500

3608 S ARBOR LAKE $655,000 $655,000

3321 GARVEY LN $449,900 $435,000

3344 KARROS CT $479,900 $450,000

7015 ALSTON CT $329,900 $322,400

Mark Twain's Wisdom for First-Time Home Buyers

Tue, 10 Nov 2009 17:28:05 -0600

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

He might not have been thinking about real estate when he said it, but Mark Twain gave a wonderful piece of advice to first-time homebuyers.The great American writer said:

"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one."

I can't think of a better way to explain the process of buying a home for the first time.

JUST GET STARTED

How? First, find a Realtor who will take the time to guide you step-by-step through, as Twain calls them, "the complex and overwhelming tasks" at hand. One task finished.

Your Realtor will help you find a lender who has successfully closed loans with them recently. Another task complete.

The lender will then work to pre-approve you so you can begin your home search understanding exactly how much home you can comfortably afford. Check that task off the list.

Your Realtor will consult with you to help you determine your wants and needs in your first home and will explain the difference between the two. As a good partner, your Realtor knows what questions to ask to help you to think clearly about your housing goals. Task done.

Next, you and your Realtor will search for homes that meet the criteria for your "needs" and offer as many of your "wants" as possible in your particular market. You'll see the best matches in person and narrow your top choices for a second look. Mark that task as done.

Once you find the home that works best for you, your Realtor will help you structure your offer and act on your behalf in negotiations with the seller through the seller's agent. Another finished task.

After you're successfully in contract, your Realtor will help you manage inspections, understand your title work and will keep in touch with your lender about your loan commitment. Your Realtor will make sure you meet your contract deadlines and will guide the transaction to closing as smoothly as possible. Task over. Goal achieved.

There are indeed many, many tasks involved in finding, negotiating for and closing on your first home. Taking the first step by just getting started will ease the journey from potential buyer to happy home owner.

Mr. Twain -- whose 175th birthday will be celebrated throughout 2010 in nearby Hannibal, Missouri -- also left us with a gem of advice about temptation. So, if you're tempted to buy a house, remember:

"There are several good protections against temptation, but the surest is cowardice."

If you're reading this, you're not a coward. You're just one phone call or e-mail away from starting on your home buying tasks. Talk to you soon.
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About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas.

Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.

For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.

Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.

3 +/- Acres - Edwardsville Home For Sale

Thu, 05 Nov 2009 19:23:02 -0600

Perfect setting.

3 +/- acres of stunning land surround this beautifully remodeled home less than a mile outside city limits.

Extensive 2007/2008 remodel added new kitchen with custom cabinets and all-stainless appliances;new living room with fireplace; hardwood floors in kitchen, dining room and hall and carpet in bedrooms; tile floor and shower in upstairs bath; decks & 27-foot above-ground pool; siding, roof; furnace, AC and water heater.

30x20 pole barn with two garage doors offers flexibility. 1 +/- acre electric dog fence. Near I-55, SIUE and bike trails.

Attention BUYERS! Never miss out on a new listing again. Sign up for priority access to new listings.

All information regardless of source, including price, square footage and lot sizes are not guaranteed and should be verified by personal inspection and/or with the appropriate professional(s).

It's Not Too Early For Holiday Shopping - Come Out And Support ARRF

Thu, 05 Nov 2009 19:02:54 -0600

The Animal Rescue and Relief Foundation of Southwest Illinois is holding a Holiday "Browse About" Event this month in Collinsville.

On November 14th and 15th from 11:00 - 5:00 p.m. you can browse various holiday gifts ranging from one-of-a-kind vintage and collectible items. Premier Jewelry will donate 25% of the retail purchase price to ARRF. The event will be held at 10 Lavadna Court in Collinsville.

Stop by and help ARRF continue to care for sick and injured stray animals. ARRF also offers help for families that are unable to afford to spay or neuter their pets.

To find out more about ARRF, take a look at animals that are available for adoption, or to donate to this wonderful cause visit them on-line at http://www.arrf-il.org

RE/MAX Preferred Partners is a proud advisor of ARRF.

Collinsville Yard Waste Collection

Thu, 05 Nov 2009 18:55:06 -0600

This Saturday, November 7th and again on November 21 from 9:00 to 4:00, the city of Collinsville will be collecting yard waste from residents.

The waste bins will be located in at the street department on South Morrison.

Be sure to bring a picture ID, as only Collinsville residents will be allowed to use the bins. Also, no commercial waste will be accepted for disposal.

Also, if you bring waste in bags make sure they are paper yard waste bags, as no plastic will be allowed at the drop-off site.

Break On Through To The Other Side (Of The New Tax Credit)

Thu, 05 Nov 2009 18:46:01 -0600

Maybe it's just me, but I'm not exactly thrilled with the new tax credit. Although I do appreciate the idea of the first-time buyer credit, I'm a little concerned about the new $6,500 provision for current owners.

I'm sure most of you know, but for those that don't the new bill extends a credit of $6,500 to people that have been in their current home at least five years. So what's so bad about that?

My short answer is this - if the credit is given to current home owners, that means they will have to sell their house to buy a new one. It sounds like a good thing - more listings for agents to sell and then turn around and help the clients buy. The problem is that in my market inventory levels are just starting to level off, not decline.

Does the new tax credit mean that the market will once again be flooded with listings of folks that don't really need to sell? The last time I did the absorption rate for Edwardsville/Glen Carbon, we were looking at 13 months of inventory on the market. I'm afraid there are going to be a lot of people that didn't even have an itch to move that will try to cash in on the $6,500, thus saturating the market and making it even worse.

Am I looking at this wrong? Anyone else have a different perspective?

Edwardsville Halloween Parade 2009 - Times and Info

Fri, 30 Oct 2009 19:49:05 -0500

For over 90 years, the city of Edwardsville has been host to a spook-tacular Halloween parade. The parade is one of the biggest in Madison County and features marching bands and more than 100 floats this year.

The parade starts at 6:30 in downtown Edwardsville. For the first time in weeks, the weather forecast does not call for rain - so be sure to arrive early to find a parking and a great spot to watch. The parade will begin at Lincoln Middle School and run north to St. Louis street and then onto Vandalia and Main.

According to the Ed-Glen Chamber, this year's theme is "Celebrate The Season".

You can find out more information about the Halloween parade by visiting EdGlenHalloween.com Here you'll find a parade program and parade line-up.

From all of us at Goshen Realty Group and RE/MAX Preferred Partners we wish you a safe and happy Halloween. (Try not to eat too much candy. :) )

Top 10 Scary Homebuying Mistakes

Fri, 30 Oct 2009 19:20:44 -0500

Great advice for buyers just in time for Halloween. Thanks to fellow RE/MAX Realtor Tracy Lee Parker for the list.

Via Tracy Lee Parker, Broker (RE/MAX by The Lakes ):

Top 10 Scary Homebuying Mistakes

1) Not Getting Pre-Approved by a Lender-Don't get your heart set on a certain neighborhood or type home until you have talked to a lender. Have you ever seen Property Virgins on HGTV? The host starts the show walking the homebuyers down a street in their favorite neighborhood. She asks them how much they think homes in the area cost and they are usually WAY more expensive than they thought! We all have Champagne taste right? A lender will look at your income, assets, debts and credit to determine a monthly payment you can afford.

2) Not thinking Long Term-If you fall in love with a home but it sits next to the electrical plant or has a major road next to it you might want to think again. This is a huge investment, you want to make sure future buyers will want to buy this home too.

3)Deciding Not to Buy-If you are waiting on the market to improve you could wait forever! If you have the finances and are ready to quit renting, now is the time to buy. Home ownership builds equity, gives you tax deductions and so many other benefits!

4)Not Getting a Home Inspection-Even if it is a new home or looks perfect, get a home inspection. It is better to know before closing that something is wrong or if not corrected could go wrong in the future. An inspection is well worth the money!

5) Not Checking Out the Neighborhood-Before you buy drive the neighborhood at different times of the day, drive to work and back to check out the commute. See where the nearest grocery store or dry cleaners is. Nothing is worse than moving in a home and finding out your favorite store is miles away.

6) Buying the First Home You See-You can always come back to it after you have looked at 3 or 4 more in the area you like. Shop, compare and make sure the home is not overpriced.

7) Buying a Foreclosure Without Completely Checking It Out-Lenders and government owned properties don't have to have a sellers disclosure as most states require. Just because it is a great price does not mean it won't have problems. Get an inspection and an estimate on any repairs. Just because you got a good deal on price doesn't mean you will make a fortune if the home has issues that cost you money!

8) Picking the Wrong Real Estate Agent-If you are with an agent who is not answering the phone or seems reluctant to take you out to see homes chances are they aren't the professional you want. Pick an agent whom is knowledgeable about the area you want to move to. If you have to drive over 20 miles from the agents office to see a home ,the agent probably does not know that area very well.

9) Not Agreeing With Your Significant Other-Sit down with the person you will be buying with, look through magazines or at homes online. Find out what each other likes and doesn't like before you go out. Most important agree on a price range you want to stay in to make your payment affordable. This saves time for everyone involved.

10) Not Neogiating To Make the Deal Work-Don't walk away from a home over a couple thousand dollar difference. Usually the seller and buyer can meet in the middle. Each party wants to think they are getting something from the pot. Your agent can help negotiate the best deal for you!

Compliments of

~Russell & Tracy Lee Parker~

~RE/MAX By The Lakes~

(214)477-5609 Russell (972)365-7198 Tracy Lee

~ residential sales, short sales, land purchases, commercial sales, leasing & property management~

Let someone local manage your property!

Eau De Dog - The New Fall Fragrance?

Wed, 28 Oct 2009 19:56:32 -0500

Here at Goshen Realty Group, we love our four-legged mascots. We've got the bases covered when it comes to pets of both the feline and canine variety. (Our resident dachshund, Missy, is pictured below.) In fact, our brokerage RE/MAX Preferred Partners does a lot of work on behalf of ARRF in Southern Illinois. Check out their website for more info.

There is an old saying in the real estate business that goes "If you can smell it, you can't sell it." Now this doesn't just mean pet odors - but odors of any kind. Everything from smoke to air fresheners, mildew, must, scented candles and even food smells (pleeeaase don't cook fish or garlic the day before a showing) can turn off a buyer. Believe it or not, smells are a reason for a buyer to offer you a lower price for your home.

The problem is, not everyone that is looking to buy a house loves our pets as much as we do. Many buyers that don't have pets of their own notice the slightest "eau de dog" odor the minute they walk in the door, and for some it's a turn-off.

But don't fret! Your dog or cat can co-exist with the for sale sign in your front yard. Just follow a few of these simple tips...

Don't use too much air freshener. Please don't use a plug-in scent in every room in your house. If you feel the need to use a plug-in type air freshener try a scent like clean linen. Stay away from cinnamon or other scents that are too flowery. To be perfectly honest, you're not fooling anyone - in fact, most buyers wonder what bad smell you're really hiding.

Febreze is your friend. Offensive odors live on soft surfaces, and odds are you can't smell it. Before your home is shown, take a bottle of Febreze and spray everything down. Make sure to spray carpets, couches, chairs, bedding, curtains - anything that is fabric. Unlike air fresheners, Febreze has a clean laundry type of smell to it, and it's pleasing. It makes your home smell fresh and crisp.

If you take Fido or Frisky with you for showings, take all of their stuff too. I had a buyer really digging on a house one time only to spot a litter box in the corner of the dining room. Suddenly the whole house smelled like a cat to her. Take toys, litter boxes, food dishes, beds and crates with you when you leave. I know it's a pain, but your house will sell faster because of it.

Have your carpets, area rugs and window treatments professionally cleaned. Ask your service provider if they can use a solution specifically designed to eliminate odors.

Do the doo-doo. Take some time to go outside and pick up after your pooch. No one likes to step in a landmine while checking out your backyard.

Ask your REALTOR. Don't be afraid to ask your agent if they think there is an odor in your home that might turn off buyers. Constructive criticism of any type can help you sell your home.

If you follow a few of these tips, you're sure to eliminate any unpleasant odor a buyer might object to. It's a lot of work for each and every showing, but once you and your best friend are enjoying your new home it will have been worth it. (Plus, you can take some of that extra money you made and buy your pet a sparkly new collar.)

Edwardsville Market Update

Wed, 28 Oct 2009 19:17:15 -0500

Here is a quick look at the market stats for Edwardsville from January '09 until today (October 28)

Price by Bedrooms

-2 3 4+ Total

Sell Price Volume $5,236,951 $22,948,347 $24,104,378 $52,289,676

List Price Volume $5,497,500 $24,045,337 $25,151,925 $54,694,762

AVG List Price $119,511 $180,792 $285,817 $204,849

AVG Sell Price $113,847 $172,544 $273,913 $195,841

List/Sell Ratio 95% 95% 96% 96%

Median List/Sell Ratio 94% 97% 96% 97%

Median List Price $119,900 $169,900 $264,450 $185,000

Median Sell Price $113,250 $165,000 $254,000 $180,000

Thinking of selling and curious to see how your home fits into the equation? Give me a call or send me an e-mail so we can discuss your specific needs.

10 Commandments Home Buyers Must Follow

Tue, 20 Oct 2009 21:10:23 -0500

Fellow agent Chantal gives buyers a great reminder, while adding a dash of humor.

If you're buying a home in Edwardsville, Glen Carbon, Maryville, Collinsville, Troy or the Metro-East area give us a shout. We'll be happy to help you find your new home.

Via Dr. Chantal Saucier (Keller Williams Realty Acadiana):

These 10 Commandments home buyers must follow may seem like common sense to many. Buyers, however, can sometimes forget with all the excitement surrounding the buying of their new home. In the past couple of weeks, I have heard of two separate buyers who saw their home loan turned down, and their dream shattered, a few days before closing because they had bought furniture for their new home before it actually became their home. Both of them now have beautiful furniture with no home to put them in.

These two buyers were not my clients but it always hurts when I hear of transactions falling apart for reasons that could have been avoided. These 10 commandments are part of the buyer packet I give all my clients when we first meet and I always stress that once they get pre-approved and the process is started, they can't do anything that might affect their credit.

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use credit cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.

If you are in the process of buying a home, remember that your credit must not change or be affected in any way until you actually sign the paperwork and get possession of your new home. Lenders will not only look into your credit when you first get pre-approved, they will check it again (and sometimes again and again) before they let you sign the mortgage. If you want to buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing.

How To Give $69,500 Away When You Sell Your Edwardsville Home

Fri, 09 Oct 2009 22:26:59 -0500

I really enjoyed my cousin's wedding last Friday night. The bride was beautiful, the groom couldn't be happier, there was fabulous food and great music. There was also a lot of new people to meet.

While taking a break from the festivities on the outdoor patio, I overheard the following conversation take place...

New Home Owner turns to his buddy and says, "Yeah, we just got a heck of a deal on our new house. I looked around with an agent for awhile, but then I got this great idea. We passed a house with a For Sale By Owner sign in the yard and it dawned on me... they aren't paying a commission!"

New Home Owner's buddy, "That's a great idea. Dude, I bet you got a good deal."

New Home Owner replies, "Did I ever. Get this... since I knew they weren't paying an agent I figured that was at least $25,000 of the asking price right there. When I called, the chick gave me waaay too much information. Turns out that her husband was in the middle of a job transfer. He was already all the way out in Oregon and she couldn't wait to get out there to be with him. She told me they had already bought a house out there and they were making two house payments. She acted like the fact that they were the original owners was a selling point, but that told me they had wiggle room. They were asking $365,000 and most houses in that neighborhood listed with agents were closer to $385,000."

New Home Owner's Buddy, "No way. She didn't keep her mouth shut?"

New Home Owner, "Nope. I bet her husband was ticked. Now I knew I had a live one on the other end. We went to look at the house, and even though it was a ranch and we wanted a two-story we bought it anyway. They had no idea how to negotiate, so I got them down to $318,500. Can you believe that? I told them I knew they weren't paying a commission, so they should have lots of wiggle room."

New Home Owner's Buddy, "You got them down like $45,000??"

New Home Owner laughs and says, "Then I asked for the sun moon and stars when the inspection had issues. They gave me more money off the price of the house instead of making repairs. All in all I bought it for $315,500!"

I stopped listening at this point. It was almost too painful. To hear someone sit there and brag to his friend about ripping someone off made my stomach churn. The thing that really made me sick was that this whole thing could have been avoided. I'd like to take a second to point out some things that sellers with a For Sale By Owner sign in their yard need to remember...

1. NEVER, and I mean NEVER tell ANYONE your motivation for selling. You are guaranteed to lose your shirt on the deal.

2. NEVER let someone come look at your house if you are there alone. Don't tell anyone that your husband is thousands of miles away. These buyers are not working with agents, and it could be a ruse to come in and commit a crime.

3. Buyers are very savvy in today's market. Educate yourself on how to become a good negotiator. You have to emotionally detach, and that's very hard to do with your own home.

The moral of the story is this:

You're going to pay the commission one way or the other, so why not hire a professional? Between the listing price being too low, revealing their motivation and not being an expert negotiator this buyer just walked off with $69,500 of this owner's money. That's almost three times more than any agent I've ever known charges in commission.

It's Fall Fest Time in Edwardsville and Glen Carbon, Illinois

Thu, 08 Oct 2009 12:34:13 -0500

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

There are many different reasons to love the fall season here in St. Louis' Illinois suburbs, including crisp and cool days, brilliantly colored leaves and festivals every weekend.

This week marks the annual Edwardsville, Glen Carbon and SIUE Fallfest. It's the granddaddy of festivals -- a community-wide celebration that includes a classic car parade, a 10K run, a bike ride and an amazing variety of food and drink.

You can see the entire program of events at the Fallfest web site.

Highlights for Friday, October 9, 2009 include a chili cook-off at Korte Stadium on the campus of Southern Illinois University at Edwardsville and a blues and barbecue bash from 6 to 10 p.m. in Edwardsville City Park.

On Saturday, October 10, the third annual Route 66 run and walk begins at 8 a.m. If you'd rather carb load than run, the Kiwanis host a pancake breakfast at Miner Square in Glen Carbon from 8 until 10 a.m. The Land of Goshen Community Farmers' Market brings the fresh fall harvest to downtown Edwardsville from 8 a.m. until noon.

Beginning at 10 a.m. and continuing until 3 p.m., hayrides and family activities will be held at the Village Farmhouse across from the Glen Carbon village hall on Glen Carbon Road. The Kiwanis will feed you again from 10 a.m. until 3 p.m. with their famous barbecue and brats at Miner Square. And, just down the road, internationally known storyteller Bobby Norfolk will entertain with family friendly ghost stories at the Glen Carbon Centennial Library from 10 a.m. until noon. And, from 10 a.m. until 2 p.m. the historic Yanda Log Cabin will be open for visitors on Main Street in old town Glen Carbon.

In Edwardsville, Rock-N-Wheels will bring unusual vehicles, food, music and family activities to City Park from 11 a.m. until 9 p.m. The Classic Car Cruise begins at noon at Lincoln Middle School and makes tracks to City Park. Jaycees Field hosts a Vintage Baseball game between the St. Louis Unions and the Murphysboro Clarkes at noon. (If you haven't seen Vintage Baseball -- go. It's a real treat with teams playing by original rules in authentic 19th century costume.)

The Watershed Nature Center will help you explore nature in the dark with programs from 4 p.m. until 9 p.m. Just bring your flashlight for naturist-guided hikes.

A roving party will rock main street in downtown Edwardsville and our friends at Visions by Carol Photography will craft a free headshot for you at 6:30 p.m. during their Girls Night Out. In Glen Carbon, the fun continues at Miner Square with music, food and wine and microbrews in the garden.

Sunday is the day for history buffs. The annual 50/50 auction is held on the grounds of the 1820 Col. Benjamin Stephenson House in Edwardsville and the Madison County Archival Library will hold a special program on Abraham Lincoln and his days as a surveyor in the village of New Salem as part of the celebration of the president's 200th birthday in 2009.

Fallfest is produced by the Edwardsville/Glen Carbon Chamber of Commerce.

See you there!

___________________________________________________________________________________________________

About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas. For more information, visit their web site at http://www,.GoshenRealtyGroup.com or e-mail Nancy at Send2Nancy@Charter.net.

(Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. As properties are constantly coming on and off the market, please contact me for the latest information on those that are of particular interest to you.)

Collinsville Italian Fest - THIS WEEKEND!

Fri, 18 Sep 2009 14:38:39 -0500

This weekend is home to one of my favorite Madison County Traditions - The Italian Fest in the heart of downtown Collinsville.

Every year, folks from all over Madison County (and some from St. Louis, too) pack the streets of downtown Collinsville for a taste of Italy. From traditional favorites like spaghetti and meatballs, to local inventions like toasted ravioli, there is something to please any palette.

The Italian Fest originally started in 1984 as a Columbus Day celebration for downtown business owners. Since then, the yearly treat has expanded to include entertainment, 5k walk-runs, wine making contests and more.

This year's event takes place Friday September 18th - Saturday September 19th.

For a complete list of vendors and events, please visit http://www.italianfest.info

The Power Of AR - Why It Pays To Upgrade Your Outside Blog

Wed, 02 Sep 2009 15:31:36 -0500

After sitting on the fence for a long time about upgrading to an AR outside blog, I took the plunge about a week ago.

I'm amazed already at the results! I've had a spike in traffic to my website from my outside blog - about 43% of my visitors this week have come from my blog. Awesome, right?

It gets even better...

In that time frame I have received two very good buyer leads, one buyer that is just in the preliminary stages of their search and two seller leads.

All in the first week. If you're on the fence like I was - get off! :) Where else can you spend $19 a month and get these results?

It's great for teams as well - my team mate Nancy can contribute her articles to the outside blog too. That way we aren't trying to maintain up to date information on more than one blog. It's a great investment.

Hyper-local blogging along with the SEO provided by the outside blog is a recipe for Internet marketing success.

Thanks, AR!

Good News For Edwardsville, Glen Carbon and Madison County Home Buyers

Fri, 28 Aug 2009 19:57:08 -0500

If you're on the fence about buying a home in Madison County it's time to get off.

Not only can you cash in on the first time buyer tax credit (up to $8,000) but the Madison County Grant Program has secured more funds. This means you can receive $3,000 of down payment assistance in the form of a forgive-able loan from Madison County.

Here are the criteria -

The HomeBuyer program is only for first time buyers. A first time buyer is defined as someone who has not owned a home before, in the past three years or someone who has owned a home with someone else in the past, but has been displaced due to divorce or death.
Credit score of 620 or above
Other income requirements apply. The program funds are in the form of a forgive-able loan - call or e-mail for details.

The perfect storm has now arrived for first time buyers in Edwardsville, Glen Carbon, Collinsville, Maryville, Troy, Bethalto, Godfrey, Alton and more. Prices are low, choices are high and now you have upwards of $11,000 in incentives to buy.

Don't delay. The grant money goes quickly and the time to take advantage of the first time buyer tax credit is running out. In order to close (safely) before the December 1st deadline you will need to have your new home picked out no later than October 15th. That's only 45 days away.

Visit us at www.JustDuckyHomes.com, call or text me at 618-917-0775 or e-mail MadisonCountyGrant@JustDuckyHomes.com for personal attention and assistance with your search. Your time is valuable, so I promise to listen carefully to your needs and find properties that offer everything you want. Together we can turn your home buying dreams into a reality.

Let's Ruffle Some Feathers - Flat Fee MLS Services

Thu, 27 Aug 2009 14:40:25 -0500

This topic might set off a long string of comments voicing various opinions.

An agent recently showed one of my listings, and when I called for feedback she told me it was between my listing and one listed by a flat fee broker. She was annoyed that she had a hard time getting a showing appointment or any other information about the house because she had to go through the seller instead of an agent. I've heard of flat fee companies before, but never really gave them much thought. We don't have any here locally, and the one she was referring to is based in Georgia. Intrigued by this business model, I pulled up the site. I looked at the prices and services offered for Illinois and that is when it struck me.

By the time a seller pays a flat fee broker and the co-broke to the buyer's agent, they aren't that much money ahead. Not to mention - the seller did almost all of the work themselves.

Let me just preface this by saying, all commissions vary from agent to agent and company to company so this example is in no way a recommendation as to what a commission rate should be. Commissions must be negotiated by law. (Hope you're happy, Mr. Sherman).

The average commission in the United States is 5% according to this article on CNN. So I'm going to use my market's average sales price in my example - $150,000.

$150,000 x 5% = $7,500

Wow... that looks like a lot of money. Makes a flat fee MLS service look like a great deal, doesn't it? So let's break it down.

2.5% to co-operating agent = $3,750
2.5% to listing agent = $3,750

When a seller lists their home with a flat fee MLS service, they offer a percentage of the sales price to a buyer's agent. So take that 2.5% or $3,750 and take it off the table. It's a non-issue when you're hiring an agent to represent you on the selling side. You're not paying your listing agent 5% - you're paying them 2.5%.

In other words, you can hire a listing agent to handle everything for you, from start to finish for around $3,750. Or, you can hire a flat fee MLS company and pay them up front.

I've done some research, and on average, a flat fee company will cost an owner $1,000 for a 3/month MLS listing, a sign and a lockbox. With the average days on the market in Madison County hovering around 180, let's go ahead and double that number and call it $2,000 in up front costs.

If a seller wants to pay for newspaper advertising that will cost extra. Don't forget that the seller also has to take their own photos, do their own room measurements and square footage, their own floor plans, hold their own open houses, call showing agents for feedback, schedule showing appointments, print their own fliers and marketing materials, update all of their marketing materials when they make a price change, and update their Internet advertising.

A typical seller now has at least $2,000 up-front invested in the sale of their home in terms of money alone. If I could put a price tag on the extra out-of-pocket costs such as advertising and figure in an hourly wage for their time, it would be safe to say we are probably close to the 2.5% they would have paid a listing agent to begin with. But, since these are intangibles we'll just say we're over halfway to the 2.5%. Here is where the real value comes in.

Lenn Harley said it best when she said that agents do not get paid for what they do, they get paid for what they know. Agents do all of the things a flat fee MLS company does. The additional $1,750 the seller in the above example is going to pay an agent is for their market knowledge and experience.

For example, how is a seller going to determine the price for their home? How are they going to effectively negotiate directly with a buyer's agent that does it for a living? Will a seller understand all of the time lines and pitfalls in the purchase contract that the buyer's agent will use? What happens when the appraisal comes back low? Will the seller be able to search the MLS for comps to dispute the appraisal? Or the home inspection is a mess? Financing falls apart the day before closing? A buyer threatens to sue over misrepresentation of the property? Does the seller know about Fair Housing laws? Who is the seller going to call at 9:00 pm when they need advice?

All of that experience and knowledge now looks like a bargain for $1,750 doesn't it? A good agent could save you that number and then some with their negotiating skills alone.

This doesn't mean that I don't believe there is a place in our industry for this business model. If a seller has a rare home that is priced correctly and in good condition it may sell quickly through a flat fee company and they will save some money. I think this model was particularly effective during the height of the market in 2005. Homes were selling quickly, and pricing and condition didn't matter as much as it does in the current market. Now that the market has shifted, 6 months on the market is considered a quick sale.

What say you? Are flat fee MLS companies doing sellers a favor or a disservice?