Champaign County Real Estate News Blog

President Bush signed a bill today designed to help struggling homeowners and beleaguered Fannie Mae and Freddie Mac. The bill will provide relief for an estimated 400,000 home owners, overhaul the FHA, and throw Fannie & Freddie Mac a multi billion dollar lifeline. http://www.foxnews.com/story/0...

What do Fannie Mae and Freddie Mac have to do with home mortgages? If you're not sure what they do or how they work look at the graph below.

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APPEALING ASSESSMENT WITH BOARD OF REVIEW: When: Between July 1st and September 10th, 9 a.m. through 3 p.m. Monday through Friday. What to bring: Evidence of value is not required on residential property. Complaints unless the property has been recently a) purchased, b) constructed, c) appraised,...

Year To Date Comparison 2007 vs. 2008    Jan. 1,2007 - May 31, 2007                 Jan. 1, 2008 - May 31, 2008 Total # Sold and Closed -1123      Total # Sold and Closed - 932 Dollar Volume - $165,000,981        Dollar Volume - $140,466,085 Average Price Home - $146,929        Average Price Home...

Year To Date Comparison 2007 VS. 2008   Jan. 1,2007 - Apr. 30, 2007       Jan. 1,2008 - Apr. 30, 200S Total # Sold and Closed - 782         Total # Sold and Closed - 656 Dollar Volume· $113,464,340           Dollar Volume· $96,209,929    Average Price Home-$145,095      Average Price Home-$146,66...

I hope everyone had a great Memorial Day weekend, I know my family friends and I sure did. It's been a while since my last post the local market has been very busy despite what the NewsGazette might have to say. I hope to have some updated sales numbers later this week or early next week. At our ...

What Does Absorption Rate Mean? It's simple, take the current number of homes listed and divide that by the number of pending sales and you have the answer. As of April 29 there are 1857 properties listed and 430 pending sales, that means we have just over 4 months of inventory on the market. Rem...

Buying your first home is stressful enough without all the bad press about the real estate market. Most first time home buyers are having friends, family and co-workers giving them advice without having all the facts. In a recent article by BankRate.com they bring up some very good points as to w...

The information listed in this post was writtten by my real estate mentor Randy Hughes. Land trusts are a great way to protect yourself. Take some time and read the info it will be worth your time!! Advantages of Using a Revocable Land Trust •1.      Avoids property being probated (out of court t...