Springtime has always been a strong season for Peoria area home sales.

This year, however, seems to be an exception to that rule.

This is great news for interested Central Illinois home buyers hoping to get a great deal on a piece of property.

Real Estate for Sale in Peoria

Here’s an overview of recent market data for Peoria, Illinois:

• Currently there are 937 homes for sale on the market, including about 252 that are in some stage of the foreclosure process.
• Between January and March, the median sales price for Peoria homes was $104,500, based on 178 homes for sale.
• When compared to the same time period last year, the median home sales price has decreased by 1.9 percent, or about $2,000.
• Meanwhile, the number of home sales has decreased by 18 percent.
• Here’s how nearby communities did in terms of median sales price:
  • East Peoria, IL: $112,000
  • Dunlap, IL: $213,000
  • Bartonville, IL: $60,000
  • Washington, IL: $132,000
  • Pekin, IL: $76,000
  • Peoria Heights, IL: $37,000
• During the week ending on April 24, the average listing price for Peoria homes was $148,730, up 1.3 percent from the week before.
• During that previous week, the average listing price was more than $150,000.
• Broken down further, the average listing price for a 1-bedroom Peoria home was $74,173 during the week ending on April 24.
• The average listing price for a 2-bedroom home was $90,040
• The average listing price for a 3-bedroom home was $121,798
• And the average listing price for a 4-bedroom home was $236,241
• Here’s a look at how other communities performed in terms of average listing price:
  • East Peoria, IL: $189,441
  • Dunlap, IL: $449,906
  • Bartonville, IL: $106,461
  • Washington, IL: $235,028
  • Pekin, IL: $139,053
  • Peoria Heights, IL: $224,728

Investing in Peoria, Illinois Homes for Sale

As you can see, the market appears to be favoring Peoria home buyers at this time.

So to ensure that you’ll get a great deal on a Central Illinois home for sale, please contact me, Mary Ann Knell, today.

I’m your experienced Peoria REALTOR ® and I will be happy to offer you such helpful home-buying resources as:

• Mortgage calculator
• Buying guide
• Buyer’s resources

Until next time,

Mary Ann

I hope everyone had a wonderful Mother’s Day yesterday with the entire family! I thought the weather was just perfect and very spring-like!

If you are looking for additional ways in which the entire family can bond, then today’s Peoria, Illinois real estate blog will be of great interest to you!

Today, I’m going to tell you about some upcoming community events that are appropriate for all ages!

Spending Time With the Family in Peoria

Here are some upcoming community events that I recommend that you check out:

Louie Louie Festival: Tell the whole family to bring their kazoo for this fun festival on the Riverfront, which will also feature live music, drinks and more!

• When: May 24
• Where: Peoria Downtown Riverfront
• Admission: FREE
• More Info: Call (309) 671-5555

Dinner Theatre Mystery: Come help solve this delightful murder mystery with other families during Conklin’s Barn II Dinner Theatre: “Out of Order.” In this musical, public officials must solve a murder in the capital.

• When: Now through May 31; : Doors open at 6PM, Buffet 6:30-7:30PM, Show 8:00PM
• Where: Conklin’s Barn II Dinner Theatre, on Timberline Road in Goodfield, Illinois
• Admission: $35 per person
• More Info: Call (309) 965-2545

Washington Cherry Festival: Come enjoy the sights and sounds of spring, all the while enjoying this outdoor cherry-theme carnival.

• When: May 29 to June 1
• Where: Washington, Illinois
• Admission: FREE
• More Info: Call (309)444-9921

Ride of Silence: Teach your children about bicycle safety while supporting a good cause during this annual event, which honors bicyclists killed or injured in accidents. Those participants between the ages of 10 and 17 must be accompanied by a legal guardian.

• When: 6:30 to 8 p.m. on May 15
• Where: Upper Glen Oak Park
• Admission: FREE
• More Info: Call (309) 229-1404

Investing in Peoria, Illinois Real Estate

If you and your family end up checking out one of these events, please let me know what you think of it!

And if you decide that Peoria, Illinois may be the perfect place for you and your family to live, then please contact me, Mary Ann Knell.

I’ll be happy to answer any questions you may have as well as tell you about available Peoria listings.

I also invite you to browse some of the free home-buying resources we’re already offering online, including:

• Mortgage calculator
• Buying guide
• Buyer’s resources

Until next time,

Mary Ann

U.S. home builders broken ground on more than 1 million properties during the month of March, which marked the highest level since June 2008.

This national trend was seen right here on our local housing market as well, which is great news for Peoria area home builders!

The good news didn’t stop there! The Commerce Department recently released numbers that further support the notion that the national – and local housing market – is gaining strength.

Peoria Real Estate for Sale

Here’s what the Commerce Department recently revealed about the national housing market, which includes our very own housing market here in Peoria:

• Between February and March, the overall pace of home starts increased by 7 percent.
• In total, there were about 1.04 million housing starts during the month of March.
• Broken down further, apartment construction increased by nearly 27 percent, to an annual rate of 392,000.
• Apartment construction saw its fastest pace since January 2006.
• Meanwhile, single-family home building decreased by 4.8 percent, to an annual rate of 619,000.
• The single-family home building was down when compared to February’s pace of 650,000, which was the fastest it had been since May 2008.
• February’s pace for single-family home starts was 5.2 percent higher than it had previously been estimated.
• Meanwhile, applications for building permits declined 3.9 percent, to an annual rate of 902,000.
• The total number of building permit applications was down from February’s rate of 939,000, which was the highest rate it’s been in nearly 5 years.
• March’s pace of single-family home starts was nearly 46 percent higher than the same month in 2012.
• And while housing construction decreased by 5.8 percent in the northeast, it actually increased in the rest of the country. The Midwest, for example, saw a 9.6 percent increase.

Experts are crediting the year-over-year increase in home building to a number of factors, including steady job growth, near record-low mortgage rates and increasing home values.

And as builders have noticed rising demand and a dwindling supply of available homes for sale, they’ve stepped in by constructing more properties.

Your Peoria, Illinois Real Estate Expert

The recent data suggests that the national housing market is in fact gaining strength, even with minor set-backs when you compare month-over-month numbers.

These same trends are being seen in Peoria, Illinois – giving area home builder and sellers in the area an extra boost of confidence!

If you’re interested in listing your own Peoria area home anytime soon, please don’t hesitate to contact me, Mary Ann Knell.

I’ll be happy to assist you by offering you helpful advice as well as such valuable resources as:

• Peoria home value analysis
• Seller’s resources
• Getting maximum value

Until next time,

Mary Ann

An expert analyst with the National Association of Realtors recently announced his predictions for the national housing market for the rest of this year and the next couple of years.

And a quick look at recent activity on the Peoria real estate market indicates that those predictions are likely to come true for our neck of the woods as well!

Long story short: It’s going to be a great year for Peoria home sellers!

Selling Real Estate in Peoria, Illinois

During his recent presentation, Lawrence Yun, the chief economist with the National Association of Realtors, made the following forecast for the next couple of years:

- By 2015, inflation is going to be considerably higher than it is now. Specifically, Yun said he expects the rates to increase between 4 and 6 percent by 2015. He attributed this increase to a rise in rental rates. While this is higher than the federal government’s preferred rate of 2 percent, it’s nowhere near the double digit increases that the country saw in the 1970s.

- Home prices are also likely to jump significantly. This prediction is largely attributed to the rise in housing demand and the fall in housing supply. Yun estimated about 15 percent cumulative growth in the next three years.

- Increasingly uneven wealth distribution. With the economy the way it is, those renters who would become first time home buyers are still finding it difficult to enter the market because of such strict lending regulations. This may continue for the next couple of years, Yun predicted.

Yun’s predictions certainly complement another recent report on the national housing market: The home bidding wars have returned!
Specifically, many of the nation’s major housing markets are seeing multiple offers on homes for sale as demand rises and supplies remain low.

This high demand and low supply is being created by home buyers hoping to purchase a property while prices and mortgage rates are low and home sellers hoping to hold on to their home until they’re guaranteed a better profit.

The resulting bidding wars from multiple buyers trying to purchase the same property has started driving up home prices, experts say – something that Yun himself predicted!

List Your Peoria, Illinois Home Today

If you would like to make the most of the high demand for Peoria real estate for sale, please contact me, Mary Ann Knell, today!

I’ll be happy to answer any questions you may have as well as offer you such useful resources as:

• Peoria home value analysis
• Seller’s resources
• Getting maximum value

Until next time,

Mary Ann

First-time home buyers navigating the Peoria, Illinois real estate market are about to get some extra help, thanks to Governor Pat Quinn!

According to a recent article I was reading, Gov. Quinn announced a new program recently that will benefit hundreds of residents who need help covering down payments and closing costs!

This is a wonderful opportunity for would-be home buyers interested in taking advantage of low interest rates and low home sales prices!

Homes for Sale in Peoria

Here’s what you need to know about the governor’s first-time home buyer program.

Known as SmartMove Trio, the program is being managed by the Illinois Housing Development Authority.

This self-supporting state agency helps finance and preserve affordable housing in our great state of Illinois.

The new program would only apply to first-time home buyers, which are defined as anyone who hasn’t owned a primary residence in the last three years.

Although it’s important to note that military veterans or those purchasing homes in targeted areas of the state would also qualify, even if they’re not first-time buyers per se.

Under this new program, first-time home buyers would be offered an affordable 30-year fixed rate mortgage as well as up to $6,000 cash for a down payment and closing costs. They’d also be eligible for a federal income tax credit worth up to $18,000 over the life of the loan.

The program would also offer an optional mortgage credit certificate to help reduce federal income taxes. That means that 20 percent of the annual mortgage interest could be designated as a direct federal tax credit.

Investing in Peoria, Illinois Real Estate

It’s wonderful that our own state government is willing to help first-time home buyers invest in their own piece of property! I’m sure it’s going to help many people.

But these benefits are only available for a limited time and so first-time home buyers are encouraged to sign up immediately!

To learn even more of the details associated with the governor’s program – or to start searching for your permanent Peoria home, please contact me, Mary Ann Knell.

As your dedicated Peoria REALTOR®, I’ll be more than happy to assist you by offering unbiased advice and helpful resources like:

• Mortgage calculator
• Buying guide
• Sample contract

Until next time,

Mary Ann

If there’s one thing that 2013 has shown so far, it’s that the housing market keeps doing better and better!

A recent article I was reading noted that U.S. home builders started more homes during the month of February than in the last 4.5 years.

What’s more, permits for future construction also increased substantially!

This is great news for current Peoria home owners who are looking to capitalize on a strengthening housing market!

Peoria, Illinois Homes for Sale

According to the recent article I read, The Commerce Department said that home builders broke ground on houses and apartments at a seasonally adjusted annual rate of 917,000.

Comparatively, that rate was 910,000 in January.

In fact, the growth of the home building rate is at its second-fastest pace since June 2007. It’s second only to December 2012, when the rate was 982,000.

What’s more, single-family home construction grew to an annual rate of 618,000, which is the most it’s been in 4.5 years.

And apartment construction grew to 285,000.

Experts are saying that new construction starts are likely to grow even faster in the coming months.

After all, they note, building permits (which are generally a sign of future construction) have increased by 4.6 percent nationwide to 946,000.

The building permit rate is the most it’s been since June 2008!

All-in-all, overall housing starts have increased 28 percent during the last 12 months.

All of these numbers indicate that the U.S. housing market is indeed recovering after stagnating for the greater part of five years.

Helping the matter is the steady creation of new jobs as well as near-record-low mortgage rates.

Meanwhile, the number of available homes for sale has continued to shrink. In fact, the number of previously occupied homes for sale has fallen to its lowest levels in 13 years.

This has driven up home prices which in turn has translated into more Americans having equity in their homes.

In fact, last year, about 1.7 million Americans switched from owing more on their mortgage than their homes were worth to having equity in their home.

This is a win-win for everyone involved because when homeowners have equity in their home, it means it’s easier for them to sell or borrow against their homes.

This in turn encourages economic activity in the greater community.

Your Dedicated Peoria, Illinois REALTOR

If there was ever a time to be encouraged by the local housing market, it’s now!

Everywhere you look, the national and Peoria real estate market are showing signs of gains, signaling that the market is indeed improving.

If you’re ready to list your property on the Peoria housing market, please contact me, Mary Ann Knell.

When you do, I’ll be happy to provide you with such helpful resources as:

• Seller’s resources
• Getting maximum value
• What’s selling in your neighborhood

Until next time,

Mary Ann

It’s an exciting time to be living in Peoria, Illinois – especially if you’re anywhere near the Warehouse District.

Recently, officials had a ground-breaking ceremony for the area, which is well known for its historic structures from the city’s industrial past.

The ceremony was attended by such dignitaries as Secretary of Transportation Ray LaHood and former Peoria Mayor Richard Carver.

Giving Peoria’s Warehouse District a Makeover

With $31.8 million invested from federal, state and local grants, the Warehouse District Project is sure to completely transform this part of Peoria.

The project calls for finding a new use for some of the city’s more historic structures – many of which are nearly 100 years old!

First on the agenda: Turning Washington Street into a more pedestrian-friendly avenue instead of a high-speed thoroughfare.

This will encourage people to get out of their cars and spend their time (and money) in the district, officials say.

A $10 million grant from the Illinois Department of Transportation is making that possible.

Officials expect more businesses to follow, with more residents coming after that.

In fact, some are saying that the Warehouse District’s population could jump from a few hundred to a few thousand over time!

Mostly, the district is being designed to cater to young professionals – those between 20 to 40.

In all, the Warehouse District Project is expected to take two years.

Living in Peoria, Illinois

What do you think of the changes coming to Peoria’s Warehouse District? I would love to hear what you think!

For now, if you’re considering investing in Peoria real estate, please contact me, Mary Ann Knell, today.

While you’re at it, make sure to browse some of the helpful resources I am already offering online, such as:

• Relocation guide
• Education in Peoria
• Buying guide

Until next time,

Mary Ann

Peoria home sales have increased in the last month – one of the most recent signs that the local housing market is getting stronger and stronger.

Today, I’m going to provide you with some additional details about recent Peoria housing activity and tell you how it may affect you as a home seller.

Properties for Sale in Peoria, Illinois

Here is an overview of recent activity on the Peoria housing market:

• Currently there are 888 homes for sale, including about 274 that are in some stage of the foreclosure process.
• Between December and February, the median sales price for homes was $117,000, based on 173 homes for sale.
• When compared to the same period a year before, the median sales price has increased by 8.3 percent – or about $9,000.
• Meanwhile, the total number of home sales has actually decreased by 19.5 percent.
• Here’s how other communities did when it came to median sales price:
  • East Peoria, IL: $120,000
  • Dunlap, IL: $291,500
  • Bartonville, IL: $97,250
  • Washington, IL: $139,000
  • Pekin, IL: $90,983
  • Peoria Heights, IL: $54,000
• During the week ending on March 27, the average listing price for Peoria homes was $142,399, up 1 percent from the week before.
• During that previous week, the average listing price was $141,000.
• More specifically, during the week ending on March 27, the average listing price for a 1-bedroom Peoria home was $63,858.
• The average listing price for a 2-bedroom home was $87,387.
• The average listing price for a 3-bedroom home was $118,741.
• And the average listing price for a 4-bedroom home was $217,692.
• Here’s how other communities performed in terms of average listing price:
  • East Peoria, IL: $180,784
  • Dunlap, IL: $443,138
  • Bartonville, IL: $111,435
  • Washington, IL: $219,419
  • Pekin, IL: $125,905
  • Peoria Heights, IL: $197,746

Peoria Illinois Real Estate for Sale

Although the total number of home sales are down, the median sales price is up for those who are able to sell their property.

For home sellers, this means that they’ll want to put together a comprehensive marketing plan to ensure that their homes is one of the ones that is selling on the market – and for a good price at that.

Working with a qualified and experienced Peoria REALTOR® can help, so contact me, Mary Ann Knell, and my team of Central Illinois real estate experts to see what we can do for you.

Until next time,

Mary Ann

I certainly do love this time of year here in Peoria, Illinois. The weather is starting to heat up, the flowers are blooming and spring fever is certainly in the air!

Today, I’m going to tell you about some upcoming activities that may be the perfect bonding experience for you and your family.

If you end up checking one of these events out, please let me know what you think of it!

Peoria, Illinois Living

Here are some events I recommend that you check out this month:

Archaeologist for a Day: At Dickson Mounds Museum, children can experience what it’s like to be an archaeologist by learning how to excavate, identify artifacts and process their findings. This program is especially useful for Girl Scouts and Boy Scouts because it may even fulfill badge requirements. Open to those between ages 9 and 16.

• When: 10 a.m. to 4 p.m. on April 13
• Where: Dickson Mounds Museum, 10956 N. Dickson Mounds Road in Lewiston
• Admission: $2 for ISMS members, $4 for non-members
• More Info: Call (309) 547-3721

Earth Day Festival: Come celebrate Earth Day with other Peoria residents during the Nature Center’s 9th annual festival. This will feature exhibits, vendors, concessions and more!

• When: 11 a.m. to 4 p.m. on April 20
• Where: Forest Park Nature Center, 5809 Forest Park Drive in Peoria Heights, Illinois
• Admission: FREE
• More Info: Call (309) 686-3360

5K Event: Work out and benefit a good cause at the same time during the Fight to the Finish Extreme 5K. Adults and children can participate and the event benefits the Children’s Hospital of Illinois, specifically the Neonatal Intensive Care Unit and the Pediatric Healthy Living Program

• When: April 27
• Where: Jubilee State Park in Brimfield Illinois
• Admission: Adults Registration fee is $80, Kids Fun Run is $20
• More Info: Call (309) 446-3758

Art Exhibit: Come see the works of Ansel Adams in this Western Exposure Exhibition. This exhibit will focus on the California works of Adams, including his landscapes as well as agricultural and urban images and portraits.

• When: 10 a.m. to 5 p.m. on April 13
• Where: Peoria Riverfront Museum
• Admission: Prices vary
• More Info: Call (309) 686-7000

Purchase a Peoria, Illinois Home for Sale Today

If you enjoy your visit to these community events and decide that you’re interested in making Peoria your permanent home, please contact me, Mary Ann Knell.

As your dedicated Peoria REALTOR®, I’ll be happy to assist you by offering helpful advice as well as such insightful home-buying resources as:

• Mortgage calculator
• Buying guide
• Buyer’s resource

Until next time,

Mary Ann

Bradley University, located in Peoria, has once again been recognized for being an excellent post-secondary institution!

According to a recent article I read, The Princeton Review recently recognized Bradley for being one of the “Top Undergraduate Schools to Study Video Game Design for 2013.”

This is a growing field of study and so it’s rather impressive that Bradley is being recognized for being on the cutting edge of it!

Education in Peoria, Illinois

Evidently, The Princeton Review recently recognized Bradley as one of 15 schools receiving “honorable mention” for their undergraduate game design courses and degrees.

Bradley was selected from a pool of 150 universities in the U.S. and Canada.

Some of the criteria that The Princeton Review used included:

• Quality of the curriculum
• Faculty credentials
• Facilities and Infrastructure

In the case of Bradley, the university has offered a video game design concentration since fall 2010. The program is through the Department of Interactive Media and the Department of Computer Science and Information Systems.

Through the program, students learn tools on how to create digital games as well as other stages of game development like design, art, sound and programming.

Living in Peoria, Illinois

Our hats are off to Bradley University for earning yet another accolade for its impressive curriculum!

This excellent university is just one of the aspects that makes living in Peoria such a wonderful experience!

If you’re interested in making Peoria your permanent home, please contact me, Mary Ann Knell.

I’ll be happy to help you find your dream home by answering any questions you may have, providing you with expert advice and offering such helpful tools as:

• Buying guide
• Buyer’s resource
• Sample Contract

Until next time,

Mary Ann