What will $29,950 buy you in Champaign? How about a foreclosed home with a scary shower??

If you have thought about purchasing a foreclosure home because of the allure of getting an amazing deal, remember that in our area, if it sounds too good to be true, it probably is. Last week, I had the opportunity to meet a client at one of the least expensive homes available in Champaign right now, a two-story foreclosure with a basement, priced at $29,950 (there are several homes priced even lower).  I was the first to arrive, so I thought I’d go inside and take a look around before meeting my client.  This home is not for most people, so keep this in mind when you look at the photos.  Remember also that this home is less than $30,000, a rare find anywhere. read more and view photos

Hardee’s ‘Making it Happen’ Tour comes to Champaign!

I like Hardee’s. I’m especially fond of their biscuits, so I come to Hardee’s for breakfast quite often (a few times a week). A few weeks ago, the manager on duty extended an invitation to me to come to Hardee’s on Monday, August 17th, to partake in their 2nd Annual “Making it Happen” tour. Today was the last day of the tour, which visited the last 8 of 66 Hardee’s restaurants in Illinois, Indiana, Kentucky, Missouri and Tennessee. At each location, the tour donated money to hometown charity groups, organizations and individuals. This year, a total of $25,000 was given to individuals and small groups where it has the most direct impact on lives, enabling them to continue ‘making it happen’. read more and view photo

How does “Days On Market” affect the selling price of a home?

Some of my buyers are in no hurry to purchase their home. They say something like, "We are willing to wait until a great deal comes along", or "The sellers will get desperate to sell after the home has been on the market for a long time". What does "a long time" mean? Until now, the answer to this question has been some agent’s made-up statistic or vague answer. Continue reading How does “Days On Market” affect the selling price of a home?

Details about the 2009 Economic Stimulus Package’s real estate tax credit

After plenty of rumors and speculation, the details of the government’s economic stimulus package have finally been released.  I have read the real estate portion, and would like to give you a summary. There is now an $8,000 tax credit (or 10% of the sale price, whichever is less) for first-time homebuyers.  You might have heard about the $7,500 tax credit, which is basically an interest-free loan paid back over 15 years at $500 per year.  That credit still applies if you purchased your home between April 9 and December 31, 2008. This new $8,000 tax credit is for home purchases between January 1, and December 1, 2009, and you do not have to pay any of it back (yourself, individually… all of us ultimately will have to pay back the entire $787B… the housing portion is $6.638B).

To qualify for the $8,000 credit, you must meet ALL of the following criteria: Continue reading Details about the 2009 Economic Stimulus Package’s real estate tax credit