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Champaign, IL Real Estate News

By Aaron Gallagher
(Green Street Realty )
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 last team meeting we compared  stats year over year and we are up 22% in volume, we are very pleased with the market in 2008. If you've been holding out for a DEAL they are out there some sellers just can't wait any longer and are dropping price. CALL ME IF YOU WANT A GREAT DEAL!!
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By Aaron Gallagher
(Green Street Realty )
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. Remember when there is less than 6 months inventory it's a sellers market. If you been waiting for the bottom of the market here in Champaign County the numbers show it's come and gone. Prices are still good so don't let a great home at a great price get away this year. Call me for a free buyers or sellers consultation and let me show you how to save time and money!Aaron Gallaghercell  217-649-6602
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By Aaron Gallagher
(Green Street Realty )
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 why buying now might make the most sense. Take time to read the article  CLICK HERE and decide for yourself. Please let me know if you would like a personal consultation on "How to Buy Your First Home at The Best Price!"  Aaron 217-649-6602
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By Scott Bechtel
(Keller Williams Realty)
4304 Crossgate Drive, Champaign in Ironwood SubdivisionAmazing Price at $249,900Great price in Ironwood! Open floor plan, 4 bdrms, 2.5 baths, basement, 3 car garage, large patio & hot tub! Dir: Staley Rd. to Ironwood Ln, right on CrossgateFind more information about this property at http://bechtelhomes.com
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By Scott Bechtel
(Keller Williams Realty)
1907 Oak Park, Champaign       $207,900Overlooking water & trees! 4 bdrm, 2.5 bath 2 story home  popular plan, great kitchen, spacious rooms. Dir: Kirby to Maynard, turn W. on Roxford, left on Oak Park. 513 Sherwood, St. Joseph     $169,900Popular Crestwood Subdivision! 3 bdrms, 2.5 baths, fireplace, garden shed w/electric, fenced yd. Dir: Rt 150 to Sherwood, corner of Sherwood & GrandFor more information on these listings please visit http://bechtelhomes.com 
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By Aaron Gallagher
(Green Street Realty )
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 transfer upon death of beneficiary)•2.      Ease of Transferability•3.      Judgments do not attach to the property•4.      No Partition (avoids spouse's "forced share" sale buyout upon divorce)•5.      Easier management with multiple owners (multiple owners do not have to sign docs)•6.      No costs upon transferring beneficiary•7.      No registered agent needed•8.      Legal and Equitable property interest in trustee's name•9.      Income and Expense conduit, not a business with tax consequenc...
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By Aaron Gallagher
(Green Street Realty )
I'm always thinking of ways to better serve and inform my clients and thought a monthly real estate conference call would be a great way to do so. That being said I would like to know what my readers want to keep informed about. Please take some time to think of questions you would like answered, reply to this posting and I'll get a call ready for later this month. Feel free to forward this around to others to help spread the word and contact me with any questions !! Have a great day!! aaron@aarongallagher.com 217-649-6602
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By Aaron Gallagher
(Green Street Realty )
1.  A real estate transaction is complicated. There are many forms that need to be understood and filled out to protect everyone involved such as the main sales contract with dates, disclosures, inspection reports, mortgage documents, insurance policies, deeds, termite inspections, mulit-page government mandated settlement statements, just to name a few. A knowledgeable guide through this complexity can help you avoid delays or costly mistakes.  2. The process of selling or buying a home can be time consuming. Champaign-Urbana is a pretty strong market and homes can sometimes move within the first 24 hours. Realtors are prepared to keep an eye on the market and move on the properties to secure the homes that are sought after for you. We have access through our Multiple Listing Service t...
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By Scott Bechtel
(Keller Williams Realty)
It is a great time to buy homes in Champaign, IL.  However, with the demand for homes outpacing the supply of homes in the past month, the buyer's market is potentially shrinking.  My recommendation is that if you are thinking of purchasing a home in the near future, now would be a great time to get the most value for you.
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By Mark Waldhoff, GRI, CRS - Champaign/Urbana, IL
(Keller Williams Realty)
Whether you are a first-time home buyer or a seasoned pro, this is a pretty typical question. Luckily, you don’t have to shut down your search or buy the last house you saw after a set limit. Can you imagine if that was the case...."um, honey....bring the checkbook tonight b/c this is #12". Personally, I don't think that would go over very well... If you’d just like to get a handle on the amount of time it will take you can reference the averages. According to the 2007 NAR Profile on Home Buyers and Sellers, NAR’s annual survey, the typical home buyer was shopping for a median 8 weeks and saw approximately 12 homes. My personal experience has been very close to these numbers. The average number of viewings for my clients is around 10-14 (but has ranged from 1 house to 42). The time fra...
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By Mark Waldhoff, GRI, CRS - Champaign/Urbana, IL
(Keller Williams Realty)
I've enjoyed finding all sorts of interesting things at BusinessWeek.com lately but I really love to find articles where I have a personal attachment. That most recent find was Business Weeks 2008 survey of the top undergrad business schools, The University of Illinois at Urbana, Champaign ranked in at #18, up two spots from 2007.  GO ILLINI!  As an alum from the UofI with a bachelors in finance I always enjoy seeing the UofI near the top in these annual rankings.  Although the fact that Michigan and Indiana are both ahead of Illinois is really eating at me.... :)Here's a link to a summary table from the report. Kiplingers.com gave the UofI some more solid press with a ranking in the top 100 best values in public colleges.  UIUC came in at #32 in that study.  That's great news, but I st...
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By Mark Waldhoff, GRI, CRS - Champaign/Urbana, IL
(Keller Williams Realty)
Despite the general doom and gloom from the majority of media outlets it is possible to find reports that focus on specific real estate markets instead of blanket statements that may or may not apply to your specific area.A recent article from BusinessWeek.com, College Towns: Still a Smart Investment,  provides a nice glimpse at college towns and how their local real estate markets have fared.  Like many other college towns, real estate in Champaign/Urbana, IL has remained a successful, long-term investment.One of their biggest points is that a university typically provides a very solid basis for the local economy, which is usually the driving factor in the condition of the local market.  That is definitely the case in Champaign/Urbana.  In our area the University brings quality jobs an...
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"Smart Buys in College Towns" that was the headline in a recent AOL real estate article written by Business Week Magazine. Click Here     We made the list along with Athens GA, Chapel Hill NC, College Park MA just to name a few locations. Please contact me with any questions about our great market and find out why investing in Champaign/Urbana real estate might be right for you!aaron@aarongallagher.com217-649-6602
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By Stacy Hall
(twin city realty llc)
As a real estate agent, we know that staging listings will result in a faster and more profitable sale, but who can we trust to manage this important process for our client.  Some staging companies are charging hundreds of dollars a month to provide service to your client.  Is is worth it?
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By Aaron Gallagher
(Green Street Realty )
A healthy economy and the spring market make Champaign County a great place to own real estate! If you've been reading my blog you're aware our market is still healthy despite what you might be reading or hearing from the national news. In fact last week I was helping new home buyers and we ended up in a multiple offer situation. In the end we offered $1250 over asking price to become the winning bid! While this isn't the norm when a great home at a great price hits the market those who are prepared to purchase are getting some fantastic deals. Buyers if you're waiting on prices to hit bottom that time has come and gone don't try and outguess the market!! Please contact me for free a 1 on 1 buyers consultation and put my real estate and mortgage experience to work for you.  If any reade...
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By Aaron Gallagher
(Green Street Realty )
                  Year To Date Comparison 2007 vs. 2008                                          Jan. 1,2007 - Feb. 28, 2007                                     Jan. 1,2008 - Feb. 29, 2008                           Total # Sold and Closed - 305                                Total # Sold and Closed - 282                           Dollar Volume - $43,841,934                                 Dollar Volume - $41,222,633                          Average Price Home - $143,744                                 Average Price Home - $146,180                        One Month Comparison: 2007 vs. 2008                                                    Feb. 1,2007 - Feb. 28,2007                   Feb. 1,2008 - Feb. 29,2008                                     Total # Sold and Closed - 154             ...
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I posted yesterday we were still in a buyers market, remember that's when there are more than 6 months of inventory to sell. There were so many contracts written over the weekend the absorption rate is now 5.79 months of homes, now it's a sellers market!! Don't be one of those people who are going to say, "I sure wish I bought a home in 2008!"Contact me for a free buyers or sellers consultation I'm here to help. 2008 is going to be a great year for real estate in Champaign County !!!!
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Whenever there is more than 6 months of inventory on the market REALTORS consider it a buyers market, and it's been a buyers market for a while now. As I've watched the statistics daily I've been noticing a change in the trend towards a sellers market. Not more than 3 months ago we had over 8 months of homes on the market to just over 6 months as of today March 8, 2008. Much of the reason for this is the new construction inventory has been sold and our market for existing homes has started to pick up and prices have corrected. Even with a late spring I'm seeing considerably more purchase activity than in the previous 4 months. It's a great time to be in real estate in Champaign Urbana and 2008 will be one of those years that people who don't buy will say, "I sure wish I would have taken...
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By Aaron Gallagher
(Green Street Realty )
Even with record inventory on the market many of my clients still can't find the right house. For those looking in the $200,000 and up price range I'm recommending new construction. I have many close relationships with the areas top builders and know how to help you get the home you truly want.This month we helped a couple looking to purchase over $200,000 that was having a hard time selling their current home. I went to one of   our best builders and proposed a trade. The builder took a look at their home, current marketing times and decided if their home didn't sell he would BUY IT!! This allowed my clients to finalize their moving plans, guarantee the sale of their place and be moved in before their first baby was born. This is just one example of how I help my clients realize their ...
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By Rhonda Littlefield, Your Home Town Expert!
(Keller Williams Realty)
I received this e-mail mesage from my sister in law today.  Not sure who the author is but these are excellent words to live by!  Enjoy! 1.) Take a 10-30 minute walk every day. And while you walk, smile. It is the ultimate antidepressant.2.) Sit in silence for at least 10 minutes each day. Buy a lock if you have to.3.) Buy a Tivo (DVR), tape your late night shows and get more sleep.4.) When you wake up in the morning complete the following statement, 'My purpose is to________  today.'5.) Live with the 3 E's -- Energy, Enthusiasm, and Empathy.6.) Watch more movies, play more games and read more books than you did last year.7.) Always pray and make time to exercise.8.) Spend more time with people over the age of 70 and under the age of Six.9.) Dream more while you are awake.10.) Eat more ...
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