Real Estate Information Archive

Blog

Displaying blog entries 11-20 of 28

An exhibit entitled Prologue to Presidency: Abraham Lincoln on the Illinois Eighth Judicial Circuit will make a stop at the Champaign County,  Courthouse in Urbana from May 17 through June 18. This exhibit offers a groundbreaking view of Abraham Lincoln and of Lincoln’s America during the middle of the nineteenth century. The exhibit is free and open to the public during regular Courthouse hours, 8 a.m. to 4 p.m. Monday through Friday. For security reasons cell phones are not allowed in the courthouse.

The exhibit reveals a very different perspective of Lincoln the politician, and of Lincoln the president. He is often thought of as a “railsplitter” and a man of the people, but the exhibit shows that he was actually a sophisticated lawyer who learned the use of legal technicalities and mastered the art of argument. Indeed, Lincoln was shaped as much by his professional life as by any other single force, and by the end of his 21 years on the circuit, he was ready to enter the most elite group of lawyers in the nation. In spite of Lincoln’s statements in his autobiography he was, in fact, a very accomplished lawyer. It was those accomplishments, and Lincoln's entire experience on the circuit, which propelled him to the presidency.

Thanks news-gazette for the info on this historical Champaign County event!

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook

 

 

**

Sharing Closing Costs

by Rose Price

The last thing to do when you purchase a Champaign home is the closing,and some people don't know that you can actually split the costs. This is a time when the paperwork will be completed, and for the home seller it is the remaining mortgage balance and the agent's commission will be deducted from the sales price. However, many however don't figure in the closing costs that are involved as well. 

While the amount and who will be responsible can vary from state to state, typical closing costs refer to all of the taxes, fees and costs required to close a real estate transaction.

When selling your home, it is important to ask your agent for a breakdown of what you are expected to pay in closing costs as well what the buyer will pay. In most states the buyer and seller split closing costs but some states consider the buyer to be responsible or both parties can be required to pay the costs. 

Typically the person responsible for paying closing costs can be dependent on the market. For example in a market that is plentiful, the seller could have more of a chance in having the buyer pay the majority of the closing costs. But in a market that is struggling such as now, buyers tend to have the upper hand and many sellers will pay the majority of the closing costs in order to complete the sale.

Below are some of the common closing costs faced by sellers and buyers:

Escrow/attorney fees: Some states require third-party escrow companies handle real estate closings, while others dictate attorneys perform the function. Title companies, title agents, lenders, brokers and even real estate agents are allowed to handle closings and/or escrows depending on the state. These fees are usually split between the buyer and seller.
Title insurance: There are usually two types of
title insurance that must be purchased – the lenders’ policy and the owners’ policy. Usually either a title company or in some states a lawyer will research the title to make sure there are no liens against the property or unidentified owners. These policies protect the lender and new owner for the full value of the property. Usually, the seller pays for the owner’s policy and the buyer pays for the lender’s policy. This is often referred to as clearing title.
Transfer or documentary taxes: These are paid either to the state, county, city or a combination depending on the state. This is where the government agency gets their share of the transaction. This is also known as a reconveyance tax.
Recording fee: Usually paid to the county for recording the deed, which shows ownership of the property.
Mortgage tax: This is an additional tax collected by some states. Alabama, Florida, Georgia, Hawaii, Kansas, Maryland, Minnesota, New York, Oklahoma, Tennessee and Virginia are the states that collect this tax.

Brokerage commission: The fee you contractually agreed to pay for the selling of your home.


Aside from these costs, the seller may be responsible for costs such as any credits that were promised to the buyer for repairs or home warranties. Don't forget that Federal law requires that sellers and buyers receive a copy of a
HUD-1 form outlining all charges in a real estate transaction.

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook

 

**

How to Avoid Foreclosure

by Rose Price

Many Champaign home owners that have gone through a foreclosure process can testify that it can be a scary situation. I’ve heard some heartbreaking stories in the last few months. The foreclosure process is painfully personal and can be painfully fast. Do you realize you and your family can lose your most precious asset in just a few short months?

So what happens in a foreclosure--and when? The U.S. Department of Housing and Urban Development has prepared an easy-to-understand foreclosure timeline. Just to emphasize how pressing foreclosure can be, I’ve put that timeline into very human perspective below:

You miss one payment. You get a call or note from your lender. Not so bad, right? You’re just juggling the bills a little right now--no problem. You’ll pay as soon as possible. Not to worry.

You miss two payments. Your lender calls again. Where are the payments? You’re still trying to convince yourself that everything is OK, but you still can’t make the payment, either. Things have to get better, don’t they? You’re starting to worry, but you do nothing.

You miss three payments. You get a scary “Demand Letter” or “Notice To Accelerate” from the bank that says you must pay all the missed payments in 30 days. If you don’t pay or negotiate different arrangements, the bank can start foreclosure. Now you’re really worried, but you’re hoping it’s a bluff. Foreclosure takes forever, doesn’t it? So you again do nothing.

You miss four payments. You still haven’t paid or made other arrangements within that 30 days. The lender turns you over to the legal team, and now you’re responsible for all the legal expenses, too. Once again you do nothing--because you’re overwhelmed and terrified.

You get notice that your home will be sold by the Sheriff--and you’re in foreclosure. But it’s only been just a few short months! You’re told you can save your home if you make all the missed payments and pay all the delinquency costs. But where will you get all that money, and why would the lender accept other arrangements now? So you again do nothing. It’s too late!

You get one last chance to save your home. You can still keep your home even after the sale if you pay all the missed payments and all foreclosure costs. You can’t do it.

Your home is lost. Why? Because you didn’t take action to save it.

Although foreclosure may differ by state, this gives you a good idea of how foreclosure works--and how fast it can happen. HUD notes that a housing counselor could have helped even after the fourth missed payment. Doing nothing if you’re facing foreclosure is the worst possible thing you can do.

Doing nothing is not an option if you want to save your home. HUD advises that you be honest with your lender as soon as you suspect you’re in trouble. You can also contact HUD to find a housing counselor who can help. You don’t have to face foreclosure alone, please contact me if there’s anything I can do, I’m always available to assist with all your real estate questions, even difficult ones like this.

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook

 

 

**

Free cupcakes plus wieners and wine at Sleepy Creek!

by Rose Price

Bring the whole family down to Sleepy Creek in Fairmont, Illinois this Friday and Saturday!

There will be FREE cupcakes this weekend at Sleepy Creek to raise funds and support a local bakery to help open up!You may remember local creative types Eric and Patty Woller from the Salt Fork River Art Fest, Freeky Creek Films, and TLC and Food network challenges. Now, they need our help to open shop in Homer. AND, there are plenty of perks and incentives in exchange for your donation. Soooo..... Let the cupcake craze begin.... 

Crazy Cupcakes with your Wieners. Friday, 5-8 p.m.Make'n Bacon with Jack Cupcakes and Pork 'n Beans

Saturday, May 5 - FINAL FUNDRAISING DAY!Wango Tango Jalapeno and Mango Cupcake. Happy Cinco De Mayo While supplies last....

The festivities will be held at the Sleepy Creek Vineyards Tasting Room Located between Champaign and Danville. Take the Oakwood exit 206 off I-74, head south 3 miles.

Thanks news gazette for the info!

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook

 

 

**

Learn Ways to Make Your Home Affordable

by Rose Price

Are you finding that your Champaign, Illinois home is just becoming to costly? If you’ve never heard of this amazing website launched by the federal government, you better go check it out!  Making Home Affordable is a website that offers a variety of online tools that will help today's homeowner determine if they are eligible to participate in the “Making Home Affordable” loan modification and refinancing program. In this tough economy saving money anyway you can is key!

This site will show you how this program works and who is eligible for assistance. This is the same $75 billion program you may have heard about in the media. To see if it can help you, first have this information in front of you:

* Information about your first mortgage, such as your monthly mortgage statement.

* Information about any second mortgage or home equity line of credit on the house.

* Account balances and minimum monthly payments due on all of your credit cards.

* Account balances and monthly payments on all your other debts such as student loans and car loans.

* Your most recent income tax return.

* Information about your savings and other assets

* Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.

* It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.) if applicable.

There are many programs out right now including the energy tax credit, $8000 tax credit for first time home buyers, and long term interest rates lower than 5%. There is something for everyone it’s just a matter of knowing where to look.  

Check out these opportunities and see if any of them can help you or contact me to discuss your current situation.  Together we can find a solution to your real estate needs.

What are you concerns about home affordability in the Champaign Illinois real estate market?

 

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook

 

 

**

Eight Simple Ways to Add Curb Appeal

by Rose Price

Need help selling your Champaign home? Add some curb appeal!  Some of the tips can be downright overwhelming! Want to improve the view from the other side of the curb without breaking the bank or making remodeling your full time job?

Here are eight easy tips to help you with your curb appeal!

1. Look at the big picture. Some things should go without saying. But the truth is that after you've lived with fading trim or a cracked driveway for a year or two, you probably don't even see it anymore. Remember that people are not going to look at your home the same way that you do, Ask your real estate agent, or a trusted friend to look at the front of your home with a new set of eyes. Would they be interested in the home if they didn't know you? If not, what are the turn-offs?

And always do the obvious: keep the lawn mowed and the gutters clear. Trim the bushes, get rid of any dead branches and fix anything that's hanging or broken. And keep outdoor lights on in the evening and in good working order, the better to show off your house 24-7.

2. Got a brass doorknob? Make it shine. If you have wrought iron, clean it or paint it. Wash the windows so that they gleam.  Make your home look cared for!

3. Mesh your home to fit into the community. For example, if you live in a neighborhood with alot of young children, it's OK to have a bike in the yard. Most buyers interested in that type of a neighborhood most likely have children as well. Keep your audience in mind as you show your house.

4. Use flowers. If you have room, go for the traditional two large planters -- one on either side of the door or walkway. Fill them to overflowing with flowers if it's spring or summer or evergreens in the cooler months, she says.

This will create a focal point, forcing home buyers to focus on one area rather than the whole home at once. Consider hanging a colorful flag out front to draw in the buyers' eye. Or put a seasonal wreath on the door. You really want your home to say, "Come on it!"

5. Apply pressure! If the exterior needs a fresh look, consider getting it pressure washed. (This is a great way to clean trim or walkways and give them a clean, white look.)

6. Make the yard look manicured. Put some fresh mulch or bedding material around the plants in the yard and use a hoe to make the edges of the bedding sharp.

7. Paint. Want to make the house look great without painting the whole thing? Just paint the trim and the front door. And since the porch frames the front door and is the first part of the house buyers will actually visit, make sure it looks freshly painted. But if it needs it, then paint the whole house. The outlay will be well worth the money if you get a clean looking home that moves fast.

8. Invest in landscaping. If you have just a little money to spend, consider visiting a nursery where they can recommend the most bang for your buck. Or, if you don't have a lot of time or a green thumb, think about creating some informal garden areas. 

Your realtor has been through this many times and is a wealth of knowledge when it comes to curb appeal and these easy and inexpensive tips should be able to get you started!

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook 

 

 

**

 

 

Blood Drive

by Masha Halpern

Are you looking for a way you could give back to your Champaign community? You could help save a life by donating your blood or bone marrow!  

Helia Healthcare will host a blood drive with Community Blood Services of Illinois on Friday, April 6 from 8-11 a.m. There is no substitute for human blood. Give Blood! It's about life.

Date and Time: 

04/06/2012 - 8:00am - 11:00am

Location: 

Helia Healthcare, 1915 S. Mattis, Champaign

For More Information call 367-2202 or email  ahowie@bloodservices.org

Special thanks to News-Gazette for the info on this Champaign Illinois event!   

 

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

    Search for Homes in the Champaign Area 

    Featured Champaign Properties
 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook 

 

 

**

Help for Buyers

by Rose Price

Have you been searching for that Central Illinois dream home and are finally ready to make an offer? You may have some concerns about the down payment and in this difficult economy it can be difficult to pay a large down payment so what are your options?  There may be an option to help you you complete the sale if you don’t have extra cash.

Different lenders have their own minimum down payment requirements and can vary depending on the mortgage program, loan amount, borrower income and credit rating. A good rule of thumb is roughly 20%, but you can find different ways to help you meet down payment requirements, including buyer assistance programs -  also called down payment assistance programs.

Assistance programs and grants can help you avoid robbing your savings or 401K or borrowing the money elsewhere to come up with a cash down payment. Some of the most common buyer assistance programs are for first time home buyers, but other assistance programs are available as well. How do they work? Below are some key requirements of standard programs. 

  • Home buyers must qualify for a loan that allows gift funds from a charitable organization
  • Limits may apply to the price of the home
  • Funds can be used for the down payment and for closing costs
  • Gift funds can be used for new or existing homes

There are several different organizations that provide buyer assistance, including Grant AmericaNehemiah and American Family Funds. Many other buyer assistance organizations are available, so do some homework and talk to your tax preparer and mortgage lender about options.

Always speak to your lender about available programs in your market, they can help you structure the down payment assistance to be compatible with their underwriting guidelines and offer advice on program advantages for your type of loan. 

​For more information and help finding that perfect home for you and your family contact me today!

Rose Price, CIPS, CRP

Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook 

 

 

**

 

Book, Jacket, and Journal Show

by Rose Price

Looking for something to do this weekend in Champaign, Illinois? The University of Illinois Press will host the annual Book, Jacket, and Journal Show, March 28–April 4, 2012. Sponsored by the Association of American University Presses, nearly 100 books and jackets—the best of university press publishing—will be on view.

The display is open 8:00 a.m. to 5:00 p.m. weekdays, at the University of Illinois Press, 1325 S. Oak St. in Champaign. There will be a special reception on Wednesday, March 28, from 2:00-3:00 p.m.  All viewings, and the reception, are free and open to the public.

A high quality catalog shows each entry in full color with typographic, paper, printing, and binding information, along with designers’ and judges’ comments. A limited number of catalog copies will be available for free so get there early!

 Thanks News-Gazette for the details on this Champaign Event!

 

 

Rose Price, CIPS, CRP
Prudential Landmark Real Estate
Champaignrose.com

 

    Search for Homes in the Champaign Area 

    Featured Champaign Properties 

    Champaign Condominiums 

    Selling Your Champaign Home

    Champaign Real Estate Market Information 


    Let’s Connect!


    Facebook 

 

**

Come join the Community Center for the Arts in Urbana, IL at their Annual Faculty Showcase Concert and Silent Auction. Check out the website for all the details.

Live Music, great food, and a Silent Auction! All under one roof in Champaign, IL!

Make plans this Sunday, March 11th, 2012 from 4pm until-6:30 pm at the Unitarian Universalist Church, 309 W Green St., Urbana 

Single: $15 general/$10 C4A members, students and seniors ,family: $45

For information or to reserve tickets:info@c-4a.org

Displaying blog entries 11-20 of 28

Syndication

Categories

Archives

Contact Information

Photo of Rose Price Real Estate
Rose Price
Landmark Real Estate
One East Main Street, Suite 200
Champaign IL 61820
217-202-8843
217-352-1933
Fax: 217-378-1281