How Long Has This Home Been On The Market?

As I take potential home buyers around to look at properties, one of the questions that often comes up is "How Long Has This Home Been On The Market?". I just added a feature to my website that makes it easier for you to answer this question.

When you do a home search, you will now be automatically told how long a home has been on the market. On both the search result page, as well as the details for an individual home, there will be a bullet item indicating the number of days that a home has been on the market.

You might wonder why the answer to the question even matters. It can actually make a lot of difference! Here are a few reasons why:
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How Far Away From Work Is This Home I’m Wanting?

When a lot of my clients start looking for a home, location is very important. Not only is the neighborhood important (contact me for information about neighborhoods in the Champaign-Urbana area that you might be interested in), but people also care about how close a home is to things they care about.

For instance, a very common question is, "How far from work is this place?", or "How far is it to little Johnny’s school?". I have found that clients who are moving to the area are very concerned about this, as well as those of us who care about how much gas we use. I have just added a new feature to my website that will make answering this question much easier for you.

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Why does it help me to pay off my mortgage faster?

You might have noticed on my mortgage calculator page after you’ve done a calculation that it has a paragraph at the bottom that looks like:

Did You Know…
If you paid just $40 a month more, you would have your mortgage paid off 54 months earlier? You’d save $20,797.14 in interest and your total payments would be $195,735.89.

I sometime get told that the above paragraph doesn’t make any sense (after all, if you owe $100,000, you owe $100,000, right?), so I thought I would explain what is happening.
Continue reading Why does it help me to pay off my mortgage faster?