THINK SPRING!

 

The clocks have "sprung" ahead, baseball training is underway and here at HWA we all have one thing on our minds – SPRING!

 

Along with all the fun Spring brings, there's also a lot of work to do. Spring is the best time to clean, organize and update your home.

 

Check Out Your Home's Equipment

 

Take the time to scan your home equipment for anything that may need service or repair. Top appliances and systems to check out are air conditioning units, the furnace and filter, stoves (especially gas for any leaks) and water heaters for leaks as well.

 

By scanning your home's equipment and appliances, you will have the opportunity to fix any possible problems before an unexpected accident or breakdown occurs.  This is great to do both in the spring and fall.  Always hire a professional to maintain your larger systems and handle any repairs. 

 

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Spring Cleaning

Spring cleaning can be anything from polishing floors and moving furniture to organizing and sorting through your cabinets. Whatever the spring cleaning needs are for your home, here's a list of how to get started!

Target the mess!

Take a few minutes to mentally survey each room. Jot down a list of the problem areas of each room. Focus on areas that really bother you or that your family finds impossible to keep clean. 

Diagnose the mess!

For each of the problem areas, figure out the reason why the mess happens and continues to happen. Usually there are several reasons why an area in your home is consistently messy.

Fix the mess!

Think about new habits and tools that can make those messes disappear. Will storage containers or shelving help? Do habits need to be changed and enforced? Is it a combination? Keep in mind the best organizing system does no good if it is not utilized. So come up with a plan that is attainable and easily enforced for your family. 

Make it happen!  

Buy the tools or materials you need to better organize your home. Force new habits onto yourself and your household so everyone remembers to put items properly in their newly organized space. 

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HWA suggests you start in one room of your home, finish the cleaning and organization in it and take in that great feeling of accomplishment. Then move on to the next room at another time. And if you just don't have time for an entire household overhaul, find something small you can do in each room to add to your daily repertoire – even something as simple as buying a small bin to store your mail or wiping down your kitchen counter after dinner.

Once you complete this process and your plans are in place, your habits will begin to change and little by little you will enjoy the improvement of the organization and cleanliness of your home. Then you can get out of the house and enjoy all that spring has to offer!

 

 

From Home Warranty of America

Up 15.7 Percent from a Year Ago

SPRINGFIELD, Ill., March 22 /PRNewswire-USNewswire/ -- The Illinois housing market posted its sixth consecutive month of year-over-year home sales increases in February as tax credit and buyer market conditions continue to move the market toward stability. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in February 2010 were up 15.7 percent, totaling 6,068 homes sold compared to February 2009 sales of 5,243 homes. The median price in February 2010 was $135,000, down 3.6 percent from $140,000 in February 2009. The median is a typical market price where half the homes sold for more, half sold for less.

"We are encouraged by more signs of improvement in the Illinois housing market spurred by the tremendous buyer market conditions with sales increases for six months in a row statewide and eight months running in the Chicagoland nine-county region," said REALTOR® Mike Onorato, GRI, president of the Illinois Association of REALTORS® and broker-owner of Onorato Real Estate in Coal City. "Price declines have moderated statewide although the more urban areas are still affected by foreclosures and short sales, which hopefully will move through the system more effectively with the new federal guidelines of the Home Affordable Foreclosure Alternatives Program taking effect in early April."

Adds Onorato: "This particular spring market really is the time for anyone thinking of buying a home in Illinois to make their move given the combination of low mortgage interest rates, affordable prices and the federal tax credit for first-time buyers and long-time homeowners, which ends April 30."

In the Chicagoland Primary Metropolitan Statistical Area (PMSA), year-over-year home sales were positive for the eighth consecutive month, up 32.0 percent to 4,134 homes sold (single-family and condominiums) in February 2010 compared to 3,133 homes sold in February 2009. The median home sale price for the Chicago and PMSA was $165,000 in February 2010, down 10.3 percent from $184,000 in February 2009.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 5.01 percent in February 2010, down from 5.06 percent during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in February it averaged 5.16 percent.

"While unemployment rates in the state continue to trend upwards, the news in the housing market is a little brighter," said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois. "The annual changes in sales in December, January and February in both Illinois and Chicago markets were in the 15 to 30 percent range; forecasts for the next three months (March, April and May) suggest a continuation of this trend although at more modest rates. However, prices will continue to trend down in the 4 to 6 percent range in the state."

In the city of Chicago, February total home sales (single-family and condominiums) were up 41.5 percent to 1,225 sales compared to 866 homes sold in February 2009, the sixth consecutive month of year-over-year sales gains. The city of Chicago median price in February 2010 was $176,500 down 19.3 percent compared to $218,625 a year ago in February 2009.

"A positive upward trend was seen in the month of February as condo sales in the city increased over 40 percent from the same period in 2009," said REALTOR® Genie Birch, president of the Chicago Association of REALTORS® and a broker associate with Koenig & Strey GMAC, Chicago. "The tax credit has been a tremendous help for those homebuyers on the fence. With interest rates still favorable, and a month left before the tax credit expires, those considering making a purchase should do so now, to take advantage of these great opportunities while they are still available."

According to the IAR report, total home sales (single-family and condominiums) comparing February 2010 to the same month in 2009 were up in 41 of 98 Illinois counties reporting including Cook, up 37.5 percent; DuPage, up 33.0 percent; Grundy, up 19.0 percent; Kane, up 43.6 percent; Lake, up 43.4 percent; McHenry, up 14.8 percent; Peoria, up 35.9 percent; Saint Clair, up 16.3 percent; Sangamon, up 3.6 percent; and Will, up 2.0 percent.

Sales and price information is generated from a survey of Multiple Listing Service sales reported by 37 participating Illinois REALTOR® local boards and associations. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

The Illinois Association of REALTORS® is a voluntary trade association whose 50,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership.

Find Illinois market stats data at www.illinoisrealtor.org, click on Market Stats.

SOURCE Illinois Association of REALTORS

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http://www.illinoisrealtor.org

A New Way To Look For Homes

 RE/MAX Professionals is excited to offer a state of the art Texting service to Springfield and the surrounding areas referred to as “RE/MAX Around Town.”  Home buyers can now stop in front of any home for sale and receive detailed information and photos right on their Smart Phone. 

 Information and photos on any property regardless of which real estate company has it listed is immediately available via TEXT.  Texting for property information is a great service to home buyers and an important marketing tool for Seller clients of RE/MAX Professionals.  

 The Process is simple.  A prospective buyer while parked in front of any property for sale can request details and photos by texting to 95495 (this number remains constant for all properties).   In the message area of the text, the prospective buyer would type 

 ViewHomes (add a space), and then the property address number and send.  For example,  A home buyer who request information on 123 Main street,  would insert   [ViewHomes 123]  in the message portion of the text and send to 95495.  Photos and details of that listing will immediately be sent to their smart phone.

 Hundreds of sign riders are attached to RE/MAX For Sale signs all over the area, promoting the service and providing instructions to assist local buyers on how to use this new tool called “RE/MAX Around Town”.  “Keep in mind that although the instructional sign riders will only be noticed on RE/MAX listings,  The Texting service will work on any companies listings submitted to the Capital Area Association of REALTORS.

It’s no secret that real estate properties have lost value over the past months as homeowners bought homes, that many people felt, had inflated prices.  While there is no sure thing in investing, many people feel that the drop in housing prices as of late was just a cyclical occurrence exacerbated by the recession, but as the housing market continues to settle, many are wondering if now is a good time to invest in real estate.

While there are many areas that are still in danger of seeing a fall in housing prices, there are also areas that are on stable ground and have nowhere to go but up, in terms of real estate value.  Some people are buying second homes as vacation homes, turning them into timeshares, or just renting them to individuals and making a profit.

If you choose to do this it can be lucrative in that a monthly mortgage payment can be obtained with a low interest rate at the present time, so essentially, rent on a home can bring the homeowner of the property enough money to more than make a mortgage payment, or at lease meet the payment each month.

While this can be a great investment, as many believe that housing prices are bound to rise, you will need to do some research before getting into the world of real estate.  Look at your personal financial situation, predictions and information about housing prices where you want to buy, and weigh the pros and cons of the risk that you must take in investing.  Before proceeding, make sure that real estate investing is going to be right for you.

 

found at Red, White, And Blue Press

The first-time homebuyer tax credit, along with the repeat homebuyer tax credit, are set to conclude this year and April and June will bring key dates for anyone looking to take advantage of either tax credit.  April 30^th and June 30^th are the days to remember when looking to use the tax credit.

Anyone who may be buying a home must be under contract on a home by April 30^th and close on the home by June 30^th in order to qualify for the tax credit.  Potential homeowners still have time if they are looking to buy a home, but there are only a few weeks that remain and since closing on a home can bring unexpected delays these dates may be closer than they seem.

Homeowners that are able to use either tax credit are looking at up to $8,000 for the first-time homebuyers and up to $6,500 for repeat homebuyers.  These tax incentives, along with low interest rates and homes that are affordable, have been pushing many people in the world of home ownership, as some homebuyers find that a new home can be as cheap as renting.

If you are one of these potential homeowners keep in mind that buying a home is a big responsibility, so don’t jump into the housing market just because of a tax credit.  If you are on a firm financial standing and are able to afford payments on a mortgage, among other things, you can benefit from one of these tax credits.  However, be sure it is the right decision for you before you proceed.

 

found at Red, White, and Blue Press

Homeowners who are looking at a high mortgage payment, a mortgage that is straining their finances, or just wanting to refinance for a lower rate may be able to do so and get a rate around 5% or lower.  Refinancing can bring down your monthly payment and make your mortgage more manageable.

Remember though, to get a rate of 5% or lower—in some cases homeowners are getting a rate of 4.75%—you are going to have to have a pretty good credit score.  However, if your score isn’t as high as you may want, there still may be the chance that you can refinance for a rate that is going to be lower than what you currently have with your mortgage and possibly still bring a lower mortgage payment.

There are countless ways to refinance a mortgage and homeowners looking for a lower interest rate and mortgage payment are turning to a 30-year fixed rate mortgage.  However, some homeowners who can afford to do so are refinancing for a 15-year fixed rate mortgage, which brings an even lower interest rate, but a higher monthly payment.  However, the 15-year mortgage, even with the higher monthly payment, will save you money in interest over the long run.

If you are having troubles with your mortgage you may want to look into refinancing.  If this is not an option you can also try a home loan modification in order to bring your mortgage payment lower.  Before making any decisions, look at your financial situation and be sure that you are making a choice that is in your best interest before proceeding.

found at Red, White, and Blue Press

http://www.frontdoor.com/Buy/Top-10-Must-Know-Real-Estate-Trends-for-2010/55392

Statewide Median Price Up 0.2 Percent to $145,300

SPRINGFIELD, Ill., Feb. 26 /PRNewswire-USNewswire/ -- Buyer market conditions remain in most Illinois housing markets as January marked the fifth consecutive month of year-over-year home sales increases while the statewide median price logged its first uptick since September 2007. According to the Illinois Association of REALTORS^® latest report, statewide total home sales (which include single-family and condominiums) in January 2010 were up 14.0 percent, totaling 5,483 homes sold compared to January 2009 sales of 4,809 homes. The median price in January 2010 was $145,300, up 0.2 percent from $145,000 in January 2009. The median is a typical market price where half the homes sold for more, half sold for less.

"We are seeing an accelerated spring market despite the snow and cold in Illinois with the homebuyer tax credit the driving factor for rising home sales," said REALTOR® Mike Onorato, GRI, president of the Illinois Association of REALTORS® and broker-owner of Onorato Real Estate in Coal City. "Current conditions remain favorable for buyers with interest rates still hovering near 5 percent and just over two months remaining to take advantage of the homebuyer tax credits before the April 30 deadline to have a purchase contract in place for first-time buyers and current homeowners who want to buy their next home."

In the Chicagoland Primary Metropolitan Statistical Area (PMSA), year-over-year home sales were positive for the seventh consecutive month, up 29.2 percent to 3,922 homes sold (single-family and condominiums) in January 2010 compared to 3,035 homes sold in January 2009. The median home sale price for the Chicagoland PMSA was $175,000 in January 2010, down 5.4 percent from $185,000 in January 2009.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 5.06 percent in January 2010, up from 5.04 percent during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in January it averaged 5.05 percent.

"Foreclosed properties continue to exert downward pressure on median prices in Chicago but much less so in Illinois," said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois. "There is evidence that median price increases will moderate in the state over the next three months (February, March and April), remaining about the same as those a year earlier; for Chicago, the median prices will be about six percent below comparable prices. The forecast indicates sales for February through April increasing in Illinois in the 1 to 14 percent range and in Chicago in the 18 to 50 percent range on an annual basis."

Adds Hewings: "Job growth continues to lag, dampening chances for significant stimulus from consumers over the next several quarters."

In the city of Chicago, January total home sales (single-family and condominiums) were up 31.1 percent to 1,202 sales compared to 917 homes sold in January 2009. The city of Chicago median price in January 2010 was $195,000 down 4.9 percent compared to $205,000 a year ago in January 2009.

"2010 has started off with an increase in the number of units sold in January over the same period in 2009. We remain hopeful that while distressed properties are being absorbed, homebuyers on the fence will take advantage of the extended and expanded homebuyer tax credit, and consider this a great time to buy a home," said REALTOR® Genie Birch, president of the Chicago Association of REALTORS® and a broker associate with Koenig & Strey GMAC, Chicago. "While the greatest hurdle is still securing financing, the current market has tremendous opportunities for homebuyers and investors looking to expand their portfolios." According to the IAR report, total home sales (single-family and condominiums) comparing January 2010 to the same month in 2009 were up in 34 of 99 Illinois counties reporting including Cook, up 35.8 percent; DuPage, up 25.3 percent; Jo Daviess, up 44.4 percent; LaSalle, up 15.6 percent; Lake, up 18.4 percent; McHenry, up 28.8 percent; Sangamon, up 5.8 percent; and Will, up 5.4 percent.

Sales and price information is generated from a survey of Multiple Listing Service sales reported by 37 participating Illinois REALTOR^® local boards and associations. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

The Illinois Association of REALTORS^® is a voluntary trade association whose 50,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS^® works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the interest of real property ownership.

Find Illinois market stats data at www.illinoisrealtor.org, click on Market Stats.

SOURCE Illinois Association of REALTORS