In a matter of 7 days and countless hours by volunteers, a home was demolished and built to brand new specs.

Brady homes out of Bloomington, IL were the general contractors.

All of the supplies, labor, food etc. were a donation of some sort.  It is amazing to me what a community can accomplish when they put their hearts and minds into a project like this.

It was such a popular undertaking that volunteers were turned away.  The town of Philo is forever changed with this new house standing as a symbol of human compassion.

The family who benifited were a nice story as well.  The family’s name is Montgomery.  Mr. Montgomery works at the Salt and Light food pantry that provides food to the needy.  It sounds as if he has committed his life’s work to helping others.

What a great turn of events that he received this gigantic charity in a new home.  This is exactly the reason I wouldn’t want to live in any other community.

Jeff Klotz/Realtor

Keller Williams Realty

Owners wealth exceeds that of renters by a factor of 50-to-1. The main difference is of course home equity.

Even in slower markets, equity increases significantly over time.  Home ownership continues to remain the biggest store of wealth for the typical household.

The interest rates are remaining quite competitive and Champaign Ilinois home prices are stable.

What better time to purchase a home than the present?

Contact me today directly (217) 840-9604 for more information about purchasing a new home in the Champaign - Urbana Illinois area.

If you enjoyed this post, subscribe to the Champaign Illinois real estate blog and stay current with all the latest real estate news and information.

With July and August being the busiest vacation times for families, now is the time to be searching for that new Champaign - Urbana home to move the family into.

Prices of homes are stable and there hasn’t been a better time to buy than now (remember that $8000.00 tax credit?)!

Contact me today directly (217) 840-9604 for more information about purchasing a new home in the Champaign - Urbana Illinois area.

If you enjoyed this post, subscribe to the Champaign Illinois real estate blog and stay current with all the latest real estate news and information.

A Security System installed in your home could save you from losing all those prized possessions and irreplaceable memoirs.

Having one could also save your lives if you were broken into while you were home. These crimes are happening in the rural areas of Illinois as well as Illinois cities and urban areas.

Not only will a security system help to protect your family and possessions it will save you money as insurance rates on your home may be discounted if you have a Security System.

Check with your insurance agent and verify any savings they can offer before adding a new home security system.

“Liked this post? Subscribe to our Champaign Illinois Real Estate blog RSS feed and get loads more!”

I just got off the phone with a new client who is excited about benefiting from this very program.

Another issue seems to be the misinformation being disseminated to the general public regarding the tax credit program.

A number of consumers have this new $8,000 tax credit confused with the old tax credit of $7,500.  The two big differences with the $8,000 tax credit versus the $7,500 tax credit are the repayment stipulation and the date with which you must purchase a property.

The $7,500 tax credit is done.

It’s time to focus on the $8,000 tax credit.

The first-time home buyer tax credit of $8,000 has no repayment requirement for first time home buyers who purchase a home between January 1, 2009 and December 1, 2009.

The temporary tax credit is just that, temporary.  There should be some urgency on the part of the public to take advantage of the first-time home buyer tax credit.

Two other factors are:

• The tax credit is equal to 10 percent of the cost of the home, up to a maximum of $8,000
• And there are income guidelines.

You can find more information regarding the first-time home buyer tax credit at the Illinois Association of Realtors website.

I know here in Champaign-Urbana, IL we are educating our first time home buyers to take full advantage of this program while it lasts.  But time is running out, so contact me today directly 217-239-7214 for more information about this tax credit.

If you enjoyed this post, subscribe to the Champaign Illinois real estate blog and stay current with all the latest real estate news and information.

Champaign Illinois Real Estate buyers need to be aware of that if they are interested in pursuing the purchase of a short sale.

Many times, short sale purchases can take a considerable amount of time to complete. The lender that is holding the mortgage can take as long as weeks or months to respond to an offer, which means that as the Champaign Real Estate buyer you will need to be very patient.

Does this mean that you should shy away from short sales?

Absolutely not, if it is a home or property that you really like/want, you should go for it.

Just remember that it can be a lengthy process and would not be the ideal way to purchase if you are in a certain time frame to relocate.

For additional information on these or other Champaign Illinois real estate Short Sales, contact me - Jakie Ehmen directly (217) 840-9604.

“Just as a flood of new condominiums are scheduled to hit the housing market this year, Fannie Mae has added restrictions making it more difficult for developers to sell their units.

The government-backed mortgage-finance company stopped guaranteeing mortgages in condo buildings where fewer than 70% of the units have been sold, up from 51%.  In addition, the company won’t back loans for sales in buildings where 15% of current owners are delinquent on association fees or where more than 10% of units are owned by a single-entity.

The new policy became effective March 1, and most lenders have started to implement Fannie’s guidelines.  Freddie Mac, Fannie’s chief rival, hasn’t yet followed Fannie’s lead.

Fannie says the new rules protect borrowers from buying units in buildings that have a high risk of failure while also preventing the companies — and taxpayers, given that Fannie and Freddie are operating under government conservatorship — from throwing good money into troubled developments.  Developers can petition Fannie for an exemption from the rule, and so far more than 50 exceptions have been made.”

The article goes on to talk about the high inventories of condominiums around the country.  Champaign Illinois County currently has about 150 condominums on the market out of 1600 single family residential listings.  We will see how the new guidlines affect the condo market here.

For additional information on these or other Champaign Illinois real estate issues, contact me - Jeff Klotz, directly (217) 840-6768.

An investor seminar in this climate will certainly touch on the foreclosure and shortsale senario.

Champaign, IL real estate and the Littlefield  Homes team, has seen an increase in the last year in both of these areas.

Our real estate team thinks there is enough opportunity out there currently that we are pleased to announce  a monthly seminar specifically for the Champaign and Urbana Illinois real estate investor.  The seminar will occur every second Wednesday of the month from 5:30 to 6:30 in the evening.

The seminars will begin Wednesday, March 11, 2009, is open to anyone and is free to attend with no obligation.

One of the highlights we’ll touch on in our first meeting will be financing: How to get it, where to get it, etc…  Any input you have out there in blog land would be welcome.

For additional information on these or other Champaign Illinois real estate, contact me - Jeff Klotz, directly (217) 840-6768.

Attract as many people as you can to your open house. Not only will this give more exposure to the listing that you are selling, but will also get more people into your database for future clients. Put up directional signs on every corner with balloons and at least a couple of signs in the yard with balloons to attract attention to even the drive by buyers.

One way that our team has gotten better with our open houses is that we will open one from 2:00-3:00 and then move to another home from 3:00-4:00. Obviously these homes are in the same area to make it possible to do this, but we have found that the people that truly want to see these homes will get there in that hour.

For additional information on these or other Champaign Illinois real estate, contact me, Jakie Ehmen, directly (217) 840-9604.

Remember , your best showings come early in the listing period!

The rule of thumb is, if something needs repair, fix it! There are probably many things in your home that you knew needed repair, but you have become used to it and learned to live with it. Now is the time to fix them. Buyers will tend to mentally add up the cost to repair these minor things and often end up with an amount that is generally much higher than what it would cost you to do the repairs.

Many times the buyer will think that if you didn’t care about keeping up with the little items, then what about the larger items such as the roof, furnace, air conditioner, etc.

Treat a buyer as you would yourself.

For additional information on these or other Champaign Illinois real estate, contact me, Jakie Ehmen, directly (217) 840-9604.