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Champaign County Housing Market Ended Strong in 2017!

by Rose Price

Champaign County home sales in 2017 reflected the second best year in the past decade!

The region saw a 2.47% increase in average home sale price for 2017 at $174,420 compared to the previous year at $170,217. The median home sale price (i.e. the typical market price where half the homes sell for more and half for less) for single family homes and condominiums was also up 3.45% from $145,000 in 2016 to $150,000 in 2017.

 

Along with the higher sale prices, the year saw a decrease in the total number of home sales in Champaign County. The 2017 year-end total in home sales was 2,882, a 4.79% decrease from the 3,027 total sales in 2016. The communities of Urbana and Mahomet (including surrounding region) saw more homes sold in 2017 than they did in 2016, while Champaign and Savoy (including surrounding region) saw a decrease. Homes sold quicker in 2017 than they did in 2016, with an average of 74 days in 2017 as compared to 80 the previous year.

 

The end results for the 2017 housing market reflect positively for this new year. Overall positive gains are predicted for 2018. Median home prices are forecasted to grow throughout the year. This is great news for sellers. And, as sellers see the higher prices, they will be more confident to sell. This results in increased inventory for buyers, especially with the upcoming spring season.

 

Work with an Experienced Realtor that can help you find your dream home at the perfect price in 2018! If you are interested in Buying or Selling your Champaign County home this fall, give Champaign Rose a call today or visit my website at http://www.champaignrose.com/.

 

Information from Champaign County Association of REALTORS®

End of Year Housing Market Update for Champaign County!

by Rose Price

The new year has begun, giving us time to reflect on 2017. The stats for the housing market throughout Champaign County are in! November 2017 saw many changes in pricing and closed sales compared to the previous year. As the market progresses, it will be interesting to see what happens in 2018. The one thing you can be sure of....we will be here to up date you along the way!

 

Champaign County saw a 3.97% increase in average home sale price in November 2017 compared to November 2016, at $171,759 this year compared to $165,361. The  average home sale price year-to-date through November 2017 reached $174,796, which is a 2.45% increase from this period in 2016. The median home sale price (i.e. the typical market price where half the homes sell for more and half for less) for single family homes and condominiums was down 0.64% from $139,900 in November 2016 to $139,000 in November 2017. However, in terms of year-to-date through November 2017, the median home sale price in November of 2017 was up 3.45% at $150,000.

 

While sale prices increased, the total number of sales decreased. November 2017 saw 171 sales, down 19.72% from November 2016 at 213. The year-to-date sales through November 2017 was down 4.45% from last year. The communities of Mahomet and Monticello saw more homes sold in November of this year, as compared to contrast. Champaign, Savoy, and Urbana all experienced a decrease in sales. Homes sold in November stayed on the market for an average of 84 days, an increase up from 79 days during November 2016.

 

These discrepancies between November 2016 and November 2017 are not all that surprising. November 2016 experienced an unusual 10 year high sales boom. Demand for homes, especially amongst first time home buyers, continues to increase. The supply of home continues to have a hard time keeping up. And, although increased sale prices are good news for sellers, it makes it more difficult for buyers to find homes within their price range.  

 

2018 will continue to see higher prices as well as higher interest rates. If you need help navigating these changes within the Champaign County real estate market, work with an Experienced Realtor that can help you find your dream home at the perfect price! Winter continues to be a good time for buyers as competition decreases and sellers are more eager to close. So do not hesitate and take advantage of this down season!

 

If you are interested in Buying or Selling your Champaign County home this fall, give Champaign Rose a call today or visit my website at http://www.champaignrose.com/.

 

 

Information from Champaign County Association of REALTORS®

 

Fall Housing Market Update for Champaign County!

by Rose Price

Fall is a great time to buy your dream home! Less competition from other home buyers, pleasant weather, and year end tax breaks are just some of the benefits of buying during the season. The strength of the housing market in Champaign County this September reflected strong buyer demand and confidence in our area's economy. The stats for the month show that home sales increased with this buyer demand and inventory of homes was able to keep up, reflecting a robust and healthy market.

 


Champaign County saw a 5.9% increase in the number of homes sold in September 2017 compared to September 2016, with 199 sold this year compared to 188. The communities of Champaign, Urbana, and Mahomet all saw more homes sold in September of this year, as compared to last year. While the month of September had a stronger showing throughout the county, the year-to-date number of homes sold is down 1.2% at 2,042 from the same period last year. Median home sale price for single family homes and condominiums is down 1.4% from $154,325 in September 2016 to $152,200 in September 2017. The average number of days on market for all home sales was at 62 days in September 2017, compared to 58 in September 2016.

 

 

Although these stats reflect benefits for buyers in particular, sellers should take advantage of the tight inventory of homes on the market and high buyer interest.

 

Now is the perfect time for Champaign County homebuyers, especially first time buyers, to take the plunge. Interest rates are below 4%, according to the Federal Home Loan Mortgage Corporation.

 

If you are interested in Buying or Selling your Champaign County home this fall, give Champaign Rose a call today or visit my website at http://www.champaignrose.com/.

 

 

Information from Champaign County Association of REALTORS®

 

Champaign Illinois Housing Market Update: 09/27/17

by Rose Price

 

The Champaign Housing Market is equally beneficial for Buyers & Sellers as the market index is 27.57 and home prices have remained steady over the past week.  The Fall is an excellent time to buy or sell your Champaign area home!

Current Real Estate Stats for Champaign IL:

Median Home Price- $204,709.

Total Inventory of Homes- 376

Average Square Footage- 1,880

Number of Bedrooms- 3

Number of Bathrooms- 2

Average Days on the Market- 147

Average Price per Square Foot- $103.

Consider the following 7 and 90 day market trends:

 

If you're considering purchasing a home, sign up for my preferred email listing alerts and receive only new homes to the market that meet your personal preferences.  Sign-up here.

Looking to put your home on the market but would like to know your homes value? Get a free home analysis here.

 

Brought to you by:

Rose Price

Landmark Real Estate

One East Main St, Suite 200, Champaign IL

217-202-8843

Tips for Spring Home Buyers and Sellers in Champaign/Urbana!

by Rose Price

Spring is fast approaching. As the flowers bloom and the weather warms, home buyers and sellers start looking to enter the real estate market. If you are ready to Buy or Sell you home in Champaign/Urbana this spring, it is important to be prepared and know what to expect. Here are my helpful tips for spring buying and selling in our area.

 

Spring Buyers!

As a buyer, your first step is to know the Champaign/Urbana market. Research what housing options are available to you as well as the current list prices. Before you begin to seriously search for your new home, it is important to have your Financing situated ahead of time. This allows you to accurately know what you can afford and makes you a more attractive buyer when you enter negotiations with a seller. Realize that the spring market means increased competition from other potential buyers. Once you find your dream home, you want to stand out from other offers. Consider writing a personal letter to the seller expressing why you love their home and know that it would be a good fit for you and your family. Also, remain flexible during the negotiation process to ensure that you can get the home you want.  


 

Spring Sellers!

As a seller, you need to know Your Home's Value before you list. This will enable you to price your home correctly. Since other sellers will be listing their homes this spring, you want to stand out from the competition. You can do this by improving your home’s curb appeal, staging your home, and completing any home improvement projects. Consider some updates to your home that will give you a great return on investment. To get top dollar for your home and sell it quickly, work with Champaign/Urbana’s Top Realtor!






Champaign Rose is here to help you buy or sell this spring!  Give me a call today or visit my website at http://www.champaignrose.com/ to get started today.

What Happens Before, During, and After the Home Inspection

by Rose Price

You’ve found your dream home in Champaign/Urbana! Congrats! You are ready to head into the final stages of the home buying process, namely closing. But before you start packing the moving truck to head over to your new address, it is important to take one last look at your potential new home….this time with a Home Inspector!

 

A home inspection is an important step to protect the buyer. It allows you to find out about any potential structural or mechanical issues with the home. It will help you determine whether or not you want to move forward and close on the home or if you need to renegotiate the agreement with the seller. No matter what is revealed in the home inspection, it is important to remember that knowledge is power and you are getting the necessary assurances for your investment. Don’t know where to begin or what to expect in the home inspection? Don’t worry! Champaign Rose is here to help.

 

 

Before the inspection

 

Your first step is to find the best home inspector for the job. In order to do so, you should interview several different inspectors to discover their background and areas of expertise. Ask to see their past inspection reports. If you find one with a highly detailed report that offers recommendations for found issues, they are a keeper. If you would like a list of great home inspectors in our area, contact me today!


During the home inspection.

 

The inspector will spend several hours examining the home. They will look at the physical structure of the home, including roof, ceilings, walls, doors, windows, and floors, as well as mechanical and electrical systems. The plumbing and major appliances will be reviewed. It is highly recommended that you attend the home inspection. This allows you to find out about issues as they are find and ask any questions. There is one important thing to remember during the home inspection. It is not a total x-ray of the home. There are still some issues that can remain hidden within the home or that the home inspector simply isn’t qualified to recognize. Keep this in mind as you continue to budget for your new home. While you can renegotiate your deal based on the findings of the home inspector, you should still expect some potential costs once you move in.

 

After the inspection.

Review the home inspection report. Discuss the findings with your realtor to determine how your deal can be renegotiated if issues were find or if it makes more financial sense to walk away from the home and find a different property. 

 

Check out my other Home Buying Tips! Give me a call today or visit my website at http://www.champaignrose.com/ so that I can help you find your dream home in Champaign/Urbana today.

Fall Home Buying in Champaign-Urbana!

by Rose Price

Spring and Summer are seen as the peak home buying seasons…..but FALL might truly be the ultimate season to buy. With many families settled into their new homes at the end of summer, there are amazing opportunities to find your dream home in a market with less competition and stress. Looking to buy a home in Champaign-Urbana? Use the season to your advantage! Here are the top reasons why you should purchase your new home this fall and not wait until the weather starts to warm up again next year.

 

Sellers with Homes still on the Market are Anxious to Sell

After having their homes listed all spring and summer, many sellers are worn out. Their homes might still be on the market because their asking price was too high during the warmer months. Now, they are looking to make a deal and are often more willing to lower their price in order to do so. As a buyer, use this to your advantage. You will likely have more success offering a lower price on a home in the fall than you would have previously.

 

Sellers in the Fall are Looking to Move

Sellers that leave their homes listed in the fall are doing so for a reason….they need to move. Whether it’s for a new job or because their new home is ready, these sellers are more serious about moving on to their new homes and need to have their current homes sold as soon as possible. They will likely be more open to negotiation in order to close the deal, especially before the upcoming holiday season.

 

You will have less Competition from other Home Buyers

Since fall is considered an off-season for real estate, there tends to be far less competition. The decrease in demand on the buying side does not translate to less inventory, however. There are still plenty of homes on the market! Whether it is new inventory or homes that have been on the market all summer long, buyers in the fall have a ton to choose from and are able to be more aggressive with their negotiations. Fall puts buyers in a great position of power to get exactly what you want! There are some many amazing homes currently on the market. Check out our Current Featured Properties to start the search for your home!

 

You have Lots of Resources at your Disposal

Since spring and summer are the peak real estate seasons, industry professionals such as agents, lenders, and movers, are incredibly busy. When the weather starts to cool and with many clients settled into their new homes, realtors and others have more time time opening up….meaning that you can have more of their undivided attention. This is extremely beneficial when you are looking to buy a home. Take advantage of all of the resources out there. An Experienced Real Estate Agent is dedicated to helping you move into your dream home this fall.

 

Crime Rates Go Down in the Fall

The end of summer tends to be the main months in which home related crimes, such as burglaries, occur. If you are buying your home in the fall, this allows you the opportunity to do more research prior to purchasing in order to find out about crime rates in the area and take precautions in your new home to protect yourself, if necessary.

 

Spruce Up Your New Home With End of Year Sales

The fall months are prime shopping season when it comes to home appliances, decor, maintenance goods, and more. Major retailers always offer these consumer goods at great discounts in the fall in order to prepare for next year’s trends and models. You can outfit your new home with amazing deals! Update your home with fresh paint and carpeting in September, when these goods are often put on sale. Prepare for next spring by purchasing your lawn mower in October. Create your dream kitchen in November with the help of new appliances and cookware at a discounted price.

 

Use Tax Deductions to Your Advantage

Regardless of which calendar month you purchase your home, homeowners can claim deductions on property tax and mortgage interest for your entire year’s worth of income. Payments completed prior to the loan closing will be considered tax deductible, even if they occur in November or December! You can save a considerable amount of money on the taxes you owe by purchasing your home later in the year!

 

Fall is the perfect time to Buy your dream home in Champaign-Urbana!! Call me today or visit my website at http://www.champaignrose.com.



Resource: Forbes

Buying a new house is an exciting and important time! There is no better place to call home than CHAMPAIGN/URBANA! House hunting in a seller's market, though, adds more factors for you to consider during the process. Although the market might not be favoring buyers at the moment, there are many things that you can use to your advantage to help you buy your dream home! Look through the current HOUSE LISTINGS so I can help you begin this exciting journey, and follow these 6 useful tips for buyers in a seller's market.

WORK WITH AN EXPERIENCED AGENT. Eliminate some of the time and stress that comes with house hunting by working with an experienced real estate agent. Champaignrose  & Landmark Real Estate is here to help you find your dream home! Let me know exactly what you are looking for. I understand the Champaign/Urbana housing market, now what is available, and negotiate the best deal for your new home! Here is WHY BUYERS CHOOSE ME!

BE PREAPPROVED BY A LENDER. Get preapproval for a loan from a reputable lender that you can present to the seller. This shows that you are serious about buying the home and makes the seller feel more comfortable knowing that your finances are in order. If you already know that you can afford the home and have a high credit score, get this part of the process out of the way when you initially start your house hunting process. It can help you stand apart from the other buyers. For help with the kinds of loans that are available for you, check out our  FINANCE INFORMATION

BE DECISIVE IN MAKING AN OFFER. Buying a home is a major decision so being thoughtful about the home you make an offer on is imperative. But don’t get bogged down in over analyzing. Before you begin the house hunting process, be sure to know exactly what you are looking for in your dream home…price, location, and type. When you find a home that checks all of the factors you have previously determined, make an offer! You don’t want to miss out on your dream home due to overthinking.

MAKE YOUR BEST OFFER. Start with a strong opening offer. You should know the maximum that you are willing to pay. Set a BUDGET so you are fully area of what you can afford and can make more informed decisions. Although we all want to get the best deal possible, in a seller’s market competition is high. If you come in with too low of an opening offer, you could miss out on your dream home. Be aware of what other houses are on the market and the pricing of the homes in the area. This will help you determine what is an appropriate amount to negotiate for the house you want. Have a strong opening offer that you are comfortable with AND that will be acceptable to the seller.

PREPARE FOR A BIDDING WAR. Bidding wars inevitably cause stress for buyers. The fear of missing out on your dream home is understandable. However, competition in a seller’s market is high. Know what you are willing to pay and search for houses below your max budget. This will help you avoid spending more than you are comfortable with should you end up in a bidding war.

LEARN FROM YOUR MISTAKES. You might not get the first home that you make an offer on. In a seller’s market, it is likely that you will have to make several offers on homes before finding the perfect one for you. Recognize what happened with the transactions that don’t work out and learn from them. Stay true to what you want and realize that there are other options in the Champaign/Urbana that I will help you find!

Source: TRULIA

January is Radon Home Testing Month!

by Rose Price

Has your Champaign/Urbana home been tested for Radon? If not, now is the perfect time to get it done! January is National Radon Action Month. As your Champaign/Urbana Real Estate Professional, I feel it’s my duty to inform you of the proper precautions and actions to take in order to protect yourself and your family from any possible radon exposure.

According to the Environmental Protection Agency, radon (also known as a radioactive gas) is found at some level in almost every home and takes the lives of 21,000 Americans each year.  Did you know that the EPA and the U.S. Surgeon General have urged all Americans to protect their health by testing their homes, schools and places of business for radon? Because exposure to radon is a preventable health risk, testing radon levels in your home can help prevent unnecessary exposure and health issues! If a high radon level is detected in your home you can take steps to fix the problem and protect yourself and your family.

Here's what you need to do to Test your Home for Radon:

  • Get a Radon test kit & Test your Existing Home: Test kits are available for purchase online, however we would recommend completing the Home Radon Testing Checklist at the following website to ensure you do  a complete and accurate job of testing your home: RADON TESTING CHECKLIST. The Public Health District of Champaign County offers Free test kits at the following link: FREE RADON TEST KITS If you live outside the state of IL, check with your state government office for Free Radon testing kits. Some home goods and hardware stores also sell radon testing kits. Make sure to follow the instructions carefully for proper placement and information on where to send it afterwards to get your reading.
  •  
  • Call a Professional- If you'd rather not do the testing yourself, you can call a IL Radon Mitigation Professional and they'll come into your home and do all the testing for you.
  •  
  • If You Are Buying a Home…and the home has already been tested for radon, ask the
  • seller for the test results of the most recent radon test. You may also want to request that a new test be conducted by a professional radon tester. If a radon test has not yet been conducted, request it as soon as possible with your own specific preferences. You have the right to decide who will do the test, what type of test will be done and when the test will be done.
  •  
  • If You Are Selling a Home…and your home has already been tested for radon, review the facts and verify it was done correctly. If so, make sure the test results are available to your potential buyers. If your home has not been tested for radon, get the test done as soon as possible; preferably before your home goes on the market.

The presence of radon in your Champaign/Urbana Home can be dangerous and life threatening. While smoking causes cancer in an estimated 160,000 people a year, radon can cause lung cancer in both smokers and non-smokers alike. Radon is the number one cause of lung cancer in non-smokers, and radon is the second leading cause of lung cancer overall.  

The World Health Organization (WHO) launched an international radon project to help countries around the world increase awareness, collect data and promote action to reduce radon risks. Radon in our homes is the main source of exposure and up until now has not received widespread attention. Get the facts about radon and make sure your family is safe from its dangers. If you are buying or selling a home, take the proper precautions to radon-proof your home before it’s on the market or before you move in.

For more Home Buying and Selling Tips visit my Blog and Facebook Page  frequently. 

The 12 Credit Tips Of Christmas in Champaign IL

by Rose Price

So, the only thing you really want for Christmas is a new Home!  Homes can’t really fit down your chimney, so you can't really ask Santa, but I'm here instead!  Here's a list of tips to help you whip your credit score into shape by Christmas, so you don’t have to rely on the big guy to make your Christmas dreams come true!  

You’ve been saving and scraped together a down payment, you’ve got a line on the areas top realtor Rose Price, of course, but… have you checked your credit score lately?  If your score isn’t 620 or higher you may not even land the mortgage pre-approval, a crucial step in the home buying process.  So, before you go touring homes with your significant other, consider these small gifts, which will no doubt have your credit score in tip top shape by Christmas. 

Credit Tip #1…

Check my credit score for FREE.  Here's a link to my annual credit report. 

Ok, first, check your three credit reports.  You can do this free once a year.  This will help you spot and correct any problems you are currently unaware of.  

Credit Tip #2

Pay early!

Early payments cut down on the amount of interest on your debt.  They also reduce the chances you’ll overspend while Christmas shopping.  The last thing you want is to hurt your credit score by over shopping.  

Credit Tip #3

Freeze your credit reports.

Experian, TransUnion, and Equinox all offer consumers the option to prevent the release of your credit report without your consent.  This gives you control over who accesses your personal and financial information…BUT know that this may also interfere with or delay timely approval of mortgage applications.  

Credit Tip #4

Work with a credit counselor.

Even the best budgeters need some help sometimes,  especially if your credit reports hold a little less than satisfactory information.  A credit counselor can get you on the path to correcting these things… ensuring you don’t lose your dream home!

Credit Tip #5

Know the 5 golden factors that determine credit scores.

Kind of like a humble Kanye West, the perfect 850 credit score is extremely rare.  However, understanding these five factors and the way they are measured to determine your score can help you score better in your financial future.  

The 5 golden factors:

Payment History (35%)

Debt and Credit utilization (30%)

Length of credit history (15%)

New accounts and Inquiries (10%)

Diversification (10%)

Credit Tip #6...

Keep an emergency fund...of 6 months (or more)!

Savings equals security…living without an emergency fund is risky business.  Before taking on the responsibility of a mortgage, you should really have at least 6 months of income saved, which will shelter you from credit burning events like unemployment, increased cost of living, medical emergencies, and home or auto damage.  

Credit Tip #7

Review your budget weekly.

Google calendar, iPhone apps, or just an old fashioned calendar will help you keep track of bills, ensuring timely payment.  Remember, bills paid late, even just one, can lower your score several meaningful points. 

Credit Tip #8

Use technology...here are apps to help track your spending and budgeting.

Even better than a system to help pay your bills on time, is one that gives you the bigger picture of all your income and expenditures.  This will help fine tune your budget.  A few we are quite fond of: Spendbook, MvelopesWally, YNAB, Dollarbird, BillGuard, and Mint.

Credit Tip #9

Sell the stuff you don't need or use anymore...Hello Ebay!

A great way to get extra cash!  Sell the stuff that clutters your home and you no longer use.  This is a good way to pay off debt and/or start an emergency savings account.  

Credit Tip #10

Clip, Clip, Clip your coupons.  It's a start.  

Sure, it sounds old school and it is!  I remember my grandmother sitting at the kitchen table clipping away…but there is something to it.  You can save some serious dollars on simple things like toilet paper, soap and other life essentials.  Free money?!  Why not?  If you are buying these products anyway, who not spend a little less for it.  All of the nickels and dimes will add up, just try it.

Credit Tip #11

Use calculators to help get out of debt… here is a link to 11 of the best!

It’s a good idea to know exactly how long it will take to pay off credit cards and get out of debt.  Debt calculators can provide essential information and perspective to help you understand if you’re on track or need to tweak your plans again.  

Credit Tip #12

Protect yourself from identity theft.

When someone steals your identity, they can open accounts and amass debt in your name, which obviously hurts your credit score.  

These service alert you instantly, when a new account is opened in your name…or if there is suspicious activity.  In some cases, it will even alert users to positive or negative changes in their score.  

CreditKarma.com offers FREE monitoring, however, the pay services offer a lot more preventative features and more assistance if you identity is actually stolen.  

Hopefully these tips will help bring your Christmas Wish to life!  What better gift is there than moving into your dream home?! 

 If you are interested in any homes in the Champaign/Urbana area please give the Rose Price Team a call at 217-202-8843 We'd be happy to help make these Holidays special and help you through the process of finding and moving into the perfect home.  

 

*A special thank you to Gina Roberts-Grey of Realtor.com for the great advice!

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