About Whiteside County, IL

Lenders require at least 20% down on investment property. The best way to finance a flip property is to obtain a short term interest only portfolio loan due in 12 months. This increases the buyers cash flow to renovate the property. Some lenders are willing to set up a purchase loan based on the current appraised home value. This allows a buyer to purchase the home with little or no down payment based on the current home equity. A buyer may also have the option of simultaneously allowing the lender to provide a lien against another property that the buyer owns with equity. This would provide extra cash to renovate the flip property. A portfolio loan has lower closing costs and can be set up to allow for no monthly payments. This type of portfolio loan is due in 12 months. The loan can be extended for another 12 months with interest paid for only a couple hundred dollars if needed. Other portfolio loans can be 3 to 7 years long if needed, but require a monthly principal and interest payment with an amortization of up to 20 years.

• example= A buyer would like to purchase a flip home for $80,000. The home has a current appraised value of $94,000. This would give the buyer an automatic 15% down payment. Since the bank wants 20% down, this leaves the buyer only needing 5% down plus closing costs.

Sterling, Rock Falls and Dixon Sales and Marketing Report

The following graphs will provide you with a breakdown of sales for years 2005, 2006, 2007 for homes and multi family units in Sterling, Rock Falls and Dixon Illinois.

3 Bedroom homes in all prices continue to sell well. It should be noted that year 2005 was one of the best local selling markets as rates were very favorable in that time frame and there was plenty of mortgage money available.

The market graphs show that the local area is not seeing the huge downward shifts that are being reported in other areas of the country. We have for the most part held steady. Interest rates are still very favorable for most buyers and will allow you more home than last year. If you are considering a move I have set up a place that allows you to LOCATE A HOME with my powerful HOME BUYER SEARCH site. Your local source to locate a home in Sterling, Rock Falls and Dixon as well as a host of other real estate information.

For more information about homes for sale in Sterling, Rock Falls or Dixon please feel free to contact me.

The information in this report is from numbers provided from the Sauk Valley Association of REALTORS. All information is beleived to be accurate but is not warranted. Any reproduction of the charts and the numbers is a violation of copywrite laws.

Sterling, Rock Falls and Dixon, Illinois Market Survey Report

Real Estate Survey of Whiteside and Lee County Town Real Estate for Sale

Week of January 8, 2008 - January 15, 2008

This chart shows the total sales volume for the second week of January 2008 as compared to the same time in 2007. Year to date graph will follow. The market data for real estate and homes for sale in Sterling, Rock Falls and Dixon was pulled from the Sauk Valley Association of Realtors as of a 5:30 P.M. download and all information is believed to be accurate but not warranted.

As you can see there is little market change. Some of the new listings may be carry over from the previous year and also includes back on market which includes a listing that may have expired prior to January 8, 2008 and re-listed prior to January 15, 2008.

If you are thinking about buying or selling feel free to give me a call.

You can take a look at any of the listings in Sterling, Rock Falls and Dixon as well as a host of other real estate information at any time at my web portal.

Whiteside and Lee County Illinois

2007 Marketing Numbers

Serving the communities of Sterling, Rock Falls, Dixon Real Estate

The final numbers are in on the total sales volume of homes in Sterling, Rock Falls, Dixon, Morrison and Tampico as well as other of the smaller communities in Illinois in Whiteside and Lee Counties.

The lowest sale price in 2007 in Whiteside County, Illinois was $6,000 and the highest sale price was $630,000 .

The lowest sale price in 2007 in Lee County, Illinois $4,000 and the highest sale price was $410,000

All data was pulled from the Sauk Valley Association of REALTORS® on 01/05/2008. All information is believed to be accurate but is not warranted. For additional listing information go to the Sterling, Illinois Real Estate Home Site.

The following table breaks the counties down to the largest communities in each of the counties. Dixon is the only one in Lee County

The lowest sale price home in Sterling, Illinois in 2007 was $10,500 and the highest sale price home in Sterling, Illinois was $531,000

The lowest sale price home in Rock Falls, Illinois in 2007 was $9,200 and the highest sale price home in Rock Falls, Illinois was $630,000.

The lowest sale price home in Dixon, Illinois in 2007 was $4000.00 and the highest sale price was $393,000.

The lowest sale price home in Morrison, Illinois in 2007 was $6,000 and the highest sale price was $460,000.

The lowest sale price home in Prophetstown, Illinois in 2007 was $25,000 and the highest sale price was $185,000.

The lowest sale price home in Tampico, Illinois in 2007 was $14,365 and the highest was $192,000.

For more information about the state of Sterling, Illinois Real Estate as well as other local news simple LOG ONTO one of the areas most comprehensive real estate site. Your 24/7 portal to all the homes for sale in Sterling, Rock Falls, Dixonas well as other areas of Whiteside and Lee Counties in Illinois.

Brian Corwell

RE/MAX Sauk Valley

Sterling, Illinois Real Estate and Home Seller