About Madison County, IL

Or - “Why do I need a Realtor to find a home – one more time! ”Self-searching for a home on the Internet has become the rage! Well I, for one, think that’s great. It whets the appetite for potential buyers, and besides, it’s just a whole lot of fun – better than reading e-mail jokes all day! There are so many great sites with so much information, and they are growing more useful every day. Wait to you see what is coming this year on Realtor.com; home values, market trends, transaction records – Our National Association of Realtors is bound and determined to “out-do” the non-Realtor sites like Zillow, Trulia, Google, Yahoo and the many Find-All-Homes-But-I-Want-The-Name-Of-Your-First-Born-Child.com. Ha! We individual Realtors try to compete, of course, with our own search sites – everyone has one. (By the way, mine is the best at www.EastOfTheArch.com– smile.)

Fun, but there is a creeping problem for the home buyer – a problem that is growing in the 2010 market, and you need to know the solution when you search for homes. Not every home listed for sale is equally “buyable,” even on the good sites that keep their listing inventory fresh. We Realtors today are spending much more time evaluating listings to see if they are truly “buyable” for a given consumer, and under what conditions. This information is not apparent to you as a consumer on a home search. Calling the number in the listing for “more information” seldom gets you all the information you need. After all, the purpose of that listing, and that number, is to sell the home – to anybody!

That is why you always need the number or a buyer’s agent in your phone’s contact list. Hopefully someone you know and trust, and have chosen to potentially represent you. Ok, I’ve said all that before, but the 2010 market is making it even more important to you. Let me list some of the categories of homes listed for sale these days. They’ve always been there, but the mix is getting broader in today’s market, and you can’t always tell the difference.

Tradition Sales,
“As Is” Sales,
Short Sales,
REQ Sales,
Foreclosed Sales,
HUD Owned Sales,
New Home Sales,
FSBO Sales,
And more….

Each kind requires a different buying process that may or may not match your ability or needs – or your interests! Often you simply can’t tell a book by the cover. It takes some research by a Realtor – a buyer’s agent - to get “the rest of the story.” The best solution is to sit down with a Realtor, learn about the different buying processes for various sale possibilities, discuss in confidence your needs and wants, and let your Realtor help you screen your search for homes that are truly “buyable” by you. I’m never too busy to meet with you to do just that – it’s how I work and what I do. Or, simply call me about any listing, but give me a little time to research the situation behind the pretty pictures and glowing description. Every home today presents a different kind of opportunity, and the differences are usually as important as the more obvious features shown in the listings. So yes, you really do need a Realtor to find a home, more than ever in today’s market and Internet environment!

Bob Ashauer, Your Personal Agent
618 581 1695
www.EastOfTheArch.com

We had Callaloo (Jamaican Spinach) and Hot Garlic Noodles as part of our dinner tonight thanks to one of Edwardsville's newest stores -- L & N Market.

This small-but-powerful food lover's paradise is located at 1719 Troy Road in Edwardsville.

Operated by Nnenna Mba-Tucker (pictured here) and her husband Larry Tucker, L & N opened for business in December 2009. Since then, foodies from all across St. Louis' Illinois suburbs have been discovering the market.

Nnenna (pronounced similarly to the name "Nina") grew up in the African nation of Nigeria and has been in Madison County for 17 years. She and other international immigrants have always had to shop at the global markets in Missouri to find rice, produce, canned goods, frozen entrees and other food items from their homelands.

As savvy entrepreneurs, Nnenna and Larry knew that Edwardsville would be the perfect location for an international store because it is home to Southern Illinois University at Edwardsville which attracts a large group of students from around the world.

"They'll come in and tell me that I have to get this or that," laughs Nnenna. "Who knew?" Her customers are happy to find familiar foods already stocked on the shelves and even happier when the warm and accommodating owners agree to order other items for them.

Today we spotted plantains (pictured here), African yams and yucca (cassava) among the offerings in the fresh produce aisle. In the freezer case were Chinese vegetable, pork and leek dumplings; Indian naan bread -- both plain and with garlic; and packages of jute leaves.

The shelves were filled with sauces ranging from the incendiary Sriracha from Southeast Asis to the mild black bean with a variety of curry somewhere in between. Some specialty rices sell so fast Nnenna can't keep enough in stock. Her rice offerings include Sona Masoori from India and sticky rice from China.

In addition to food, the shop sells international calling cards, fashions made from African material, imported entertainment programs and other items that will make global ex-pats feel right at home in the Midwest. As a way of saying "welcome" to their customers, Nnenna and Larry have placed the flags of many nations in a border around the walls of the store.

The market is open from 10 a.m. until 8 p.m. Monday through Saturday. They are closed on Sundays.

If you stop and shop, tell Larry and Nnenna that Nancy sent you.

You've never found the home you've always wanted, with just the features, style and location for you. Oh, some have come close, but not at a price you would pay! When the other owner has your great taste, they know it - and they have priced that jewel way up there when they sell. Besides, close is just not good enough at the prices you've seen. After all, you don't really have to move - it's just a dream! But you've keep your eyes on the market for years - maybe someday!

Well, wake up from your dream state; it may be time to take a closer look at the market in 2010! Your dream home may be sitting there on the market this year as a nightmare for someone else! Selling prices are down, interest rates are at the bottom for now, and many people do have to sell those jewels, for any number of reasons. True, your dream house may not be in perfect condition, or may not be exactly what you have always wanted, but in this market those are opportunities! This year, there are ways to buy a home at a bargain price, have immediate improvements made to your own tastes, and turn that nightmare into the dream home you've always wanted! We call this market a perfect storm! With it come opportunities for smart buyers - not just investors! Learn more of how the 2010 market realities may be the perfect time for you at this new web site: http://sites.google.com/site/homebuying2010/

Tell your friends- they may be interested in how 2010 is the year to realize their real estate dreams!

Today I talked with a couple of buyers who told me they had "heard something" about new loan guidelines from the Federal Housing Administration (FHA) but they didn't understand. They wondered what these government changes might mean for them and their chances of getting an FHA-insured loan on a home here in Madison County, IL.

My answer: It probably won't mean much for most of the buyers we work with at Goshen Realty Group here in St. Louis' Illinois suburbs.

One important provision that has not changed is that most buyers can still get an FHA loan with a downpayment of 3.5 percent.

But three things have changed with FHA-insured loans:

1.) Currently, sellers are able to assist buyers with closing cost contributions of up to six percent of the value of their property. That seller assistance is dropping to three percent effective in the summer of 2010.

2.) Buyers will have to pay a higher insurance premium on their FHA-insured loans. The premium is now going to be 2.25 percent of the value of the loan. Previously it was 1.75 percent. This will take effect in the spring.

3.) A borrower will now need to have a credit score of at least 580 to qualify for a loan with 3.5 percent down. Those with a score of less than 580 are required to have 10 percent down. Previously there was no minimum credit score on paper, but most borrowers have much higher scores anyway. This is expected to take effect summer 2010.

Why has FHA made these changes? To make sure that their finances are in good shape for the future (there is a congressional mandate that regulates the agency's cash reserves) and to better screen unqualified buyers and keep them from getting loans that have a higher liklihood of default. (Recent news reports point to FHA having more than half a million outstanding loans that are on the road to foreclosure.)

You can see the Department of Housing and Urban Development news release on the FHA changes here.