Real Estate really has changed over the years!

State of the local Real Estate market...

Wed, 25 Feb 2009 15:01:04 -0600

Good news for the Bloomington Normal Area!
Lists give nod to B-N strengths; Economy, housing garner top rankings
February 17, 2009  © 2009 The Pantagraph  BLOOMINGTON - Despite some economic challenges, the Twin Cities still just might be the place to be these days.
The average price for all homes sold in Bloomington- Normal in 2008 increased 3.5 percent from 2007.
Bloomington has gained attention in a couple of national surveys, including one that recognizes the area as one of the best- performing cities and another that predicts the community will buck the prevailing depreciation trend in real estate.
McLean County ranked 80 out of 124 on the Milken Institute/ Greenstreet Real Estate Partners' list of best-performing cities - small metros of 2008. In addition, Bloomington was at the top of the Housing Predictor Top 25 housing markets for 2009.
While no one single ranking can be fully accurate, Bloomington- Normal constantly ranks in the top in a lot of reports, said Marty Vanags, executive director of the Economic Development Council of the Bloomington-Normal Area, which gathers such lists as the Milken report for its Web site.
Combined, those rankings indicate the Twin Cities are high- quality communities, Vanags said.  "People want to be living and working with successful companies and people," Vanags said.  In particular, being called one of the best-performing cities also could help the local economy improve, Vanags said. People hopefully will see McLean County has a stable economy and be encouraged to spend money, he said.
"Right now, it's a crisis in confidence," Vanags said.  The Best Performing Cities Index ranks U.S. metropolitan areas by how well they create and sustain jobs and economic growth. Components include job and wages, along with technology growth.
The Bloomington-Normal area also outperformed other Central Illinois communities, including Champaign-Urbana at No. 87, Decatur at No. 104 and Springfield at No. 108.
Local real estate is expected to shine more in Bloomington compared with other Central Illinois communities, according to the Florida-based Housing Predictor,which provides independent real estate market forecasts for more than 250 cities.
Local real estate also is expected to shine more in Bloomington, according to the Florida-based Housing Predictor, which provides independent real estate market forecasts for more than 250 cities. Factors considered include economics, political influences, business development, construction and employment.
While the group forecasts that home prices nationwide will deflate an average 12.6 percent in 2009, it predicts Bloomington homes will appreciate 3.6 percent. Bloomington is ranked as the housing market with the best probability of hitting its forecasted appreciation.
The value of homes is expected to deflate 4.1 percent in Decatur, 6.8 percent in Springfield and 7.1 percent in Peoria.  A 3.6 percent appreciation is ambitious, said Laurie Christensen, president of the Bloomington-Normal Association of Realtors. Even in the best of times, real estate agents generally figured that area homes appreciate about 2 to 3 percent, Christensen said, noting that the number can be different than a sale price.
"I love what they say, but I'm almost worried that people are going to take that at its face-valued truth," she said.  The Bloomington market is stable and weathering the economic storm, but people who buy in a down market pay lower sale prices, Christensen said.
Nonetheless, the average price for all homes sold in Bloomington- Normal in 2008 increased 3.5 percent from 2007. The price for the average existing home rose 2 percent, while the average new home price increased 3.7 percent.
Housing Predictor also highlights and dismisses the fact that Bloomington homes are on the market longer now.  In the past, the majority of area homes likely sold within three months, but now sellers are lucky to find a buyer in six months, and it's not unusual for a home to be for sale longer than a year, Christensen said.
But she also agrees Bloomington, where year-end sales were down 12.8 percent, is better off than most places.  "We're going to be down," Christensen said. "We're just pleased, (taking into account) that it-could-have-been-worse philosophy."
Caption: Bloomington has received some honors on a couple of recent national surveys. The community has been recognized as a best- performing small city for its jobs, wages and technology growth. Another survey predicts Bloomington homes will appreciate while the prevailing trend nationwide is depreciation. This aerial shot taken in May 2005 shows Veterans Parkway looking north into Normal. The Shoppes at College Hills are at lower left and the Chateau is at lower right.
Document BLM0000020090207e5260002u  Money Lists give nod to B-N strengths Economy, housing garner top rankings Michelle Koetters  6 February 2009 The Pantagraph

Articles of Interest for the Local Homeowner...

Wed, 3 Dec 2008 01:48:10 -0600

Easy Painting Tips for 1st Time Homeowners
We all have an innate sense of the importance of making a place our own. From prehistoric times, decorating the place we live has given us a sense of belonging, comfort and control. We're not talking about drawing antelope on our cave walls, though. And you know what cats and dogs do... we're not talking about marking territory that way either. When we move into a place, what do we do? We paint. More accurately in most cases, we think about painting.
Even though painting may be the first thing 1st time home owners plan to do in their new home, sometimes it seems it never quite gets done. Here are some ideas to get you going when it comes to tackling that important job.
#1. Select a Color Scheme Start with your furniture, carpet, drapes and accessories, and choose a compatible color or colors. Pick out some likely paint chips from the paint dealer. Check them out both in daylight and at night with the light fixtures you have in the room. This is a pretty important step, and it can save you a lot of troublesome do-overs. Don't wet a brush until you select (or if it's not just you by yourself, the word is agree) on the perfect colors.
#2. Take Your Time Plan on taking a week or more. Allow plenty of time for the project. Looking at a few walls it's all to easy to underestimate how long it will take, but in all likelihood you will find that working at a deliberate, measured pace will be more realistic and less frustrating.
#3. Preparation is Key Without careful prep work, you will end up with doorknobs, keyholes and parts of your window panes matching your walls. If it sounds like that would look OK, get a grip; you've been overcome with what-the-heck-itis. Believe us, you will regret it as soon as the paint dries. Use painter's masking tape around the woodwork and wall fixtures, and cover any ceiling lights and fans with plastic bags. Use plastic or canvas drop cloths in the paint zone. Take everything off the walls and move furniture to the center of the room and cover it. Better yet, if you can, move it into another room. Wear old clothes and old shoes. No matter how careful you think you can be, you'll find whatever you wear will tend to adapt to its environment by attracting paint.
#4. Go After the Problem Spots First Don't just try to fill holes and cracks with paint hoping it will turn out OK. Repair problem spots first with spackle or patching compound. There are some that come already prepared for small jobs, and the ones with a lightweight/foamy texture are easier to work with. Fill in, then smooth the patch with fine sandpaper for an even finish. When that's done, the final check is to close your eyes and run your fingers over it. If you can feel it, it will be visible after painting.
#5. Expect a Few Spills It's just about impossible to avoid the occasional spill. Hey, it's part of the fun. Be ready to clean up at any moment as the work progresses. Don't think it will be easier to do it all after the job is done.
Painting the living spaces of your new home, for most of us, is a final comfort step in making it your very own. You don't have to be an artist, a scientist or an engineer to figure out and get it done, so just relax, plan a little and go to it. As you enjoy the results, you'll be glad you did it.
Article provided by Automated Homefinder, the Denver real estate experts of Colorado.

Prepping Your Home for Sale...

Mon, 6 Oct 2008 23:01:55 -0500

3 Year-Round Tips for Prepping Your Home for Sale
Getting your home ready to go on the market can be quite stressful. The preparations going into selling can be counted on to involve a lot of work. That's especially true if you're like most people and don't start to prepare your home until just several weeks prior to putting it on the market.
Prepare early... Waiting until the last minute to get your home ready for sale is only going to increase the level of stress. Why not spread the work out over a few months? Create a list of things that need to be fixed, and tackle them one at a time every few weeks. By taking your time to do a few tasks throughout the months before putting your house on the market, you will be saving yourself a lot of unnecessary stress when it comes time to put that sign in the yard. Not only will you feel more prepared, but you won't be as hasty to get things working, and you'll do a far better job. If you hire a handyman to do the work, you’re likely to keep more cash in your pocket by hiring in the off season instead of waiting until the summer when everyone is booked solid and job bids come in higher.
Listing photos... Buyers these days have immediate access to descriptions of hundreds of local listings. With so much data a picture may be all they can assimilate at the moment. The photo of your home may be the difference between a buyer being intrigued enough to actually read the description of your home or overlooking it entirely. One of the best things you can do over a period of time to increase your odds of getting interested buyers is to keep a camera ready for getting just the right snapshot. This will most likely be in the morning or afternoon hours when your home won't look washed out and colorless in harsh midday light. It never fails... if you wait until the last moment to take the listing photo for your home, it will be dark and overcast the whole week. It's much better for you to provide the picture that you've captured through smart planning for the right moment.
Even if you're not planning on selling in the immediate future, next time after it rains, see if you can take a picture of a rainbow that "just happens" to end right behind your home. In the spring, make sure to get an late evening shot with the amber sun glowing on your gorgeous flowers on your front porch. It's those little touches that make a big impression.
Put anything you don't use regularly away... Kitchens, family rooms, and basements are often the most cluttered rooms in a home. Plan in advance and rent storage space. If you don't use that coffee pot taking up space on the kitchen countertop more than a couple times a week, put it away or store it. (Even if it does get regular use, if it could be easily stored out of the way -- store it!) The more room you have on your kitchen counter, the bigger the kitchen feels. If your kids don't play with the toys that are sitting around the family room, have a yard sale or donate them to Goodwill! The less stuff you have around in your home, the more spacious it will feel!
With just a little advance planning, you can smooth the way to selling your home in a relaxed, stress-free way. This will put you in a better position to have things come out in your favor on the sale.

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