If you are thinking of buying or selling  a home in Champaign/Urbana IL and the surrounding towns, your best opportunity could be right now... in January!  Yes, it is cold outside, and rainy, but mortgage interest rates are most likely at their lowest levels for 2014.

The interest rate on a 30 year mortgage, if you were to obtain your loan today, is 4.51%...but predictions show the rates rising by year-end to the 5.75% level.  It is even better for the 15-year mortgage as it is at 3.56% today.  Getting into the housing market early this year is going to make all the difference in the world when it comes to costs. Rates like this make it feasible for Champaign/Urbana IL home buyers and refinancing homeowners to eventually live mortgage free!

However, with the Fed announcing the pull back of the stimulus packages of the past year, the rates will start climbing soon.  In addition to mortgages and rates, inventory of homes will be a key component in buyers being able to obtain their desired residence.  At present, the ChampaigUrbana housing inventory is somewhat low...so homeowners thinking of putting their home on the market, will want to do so now.  This way they are guaranteed more of a "sellers market" and a better chance at getting the asking price of their home. Buyer demand and limited inventory does drive up prices...and the peak selling season is NOW.

Take a look at the most recent Champaign IL Market Update below:

For more information about the wonderful Champaign/Urbana IL Homes for Sale, or to learn about my Personalized Home Buying & Selling Marketing plans,  give me a call!  My experience and knowledge of the area, along with 20 years in the real estate market, will give you the confidence that ChampaignRose is the only RE professional to handle all your real estate needs.  Let Rose be "Your Resource to all Center City Districts in Champaign IL.