Scott AFB, IL

September 2009 Metro East Housing Statistics

September 2009 vs. September 2008

# OF SOLD HOMES AVG DAYS ON MARKET

COUNTY Sept 09 Sept 08 Sept 09 Sept 08

ST CLAIR 200 234 134 119
MADISON 274 238 145 124
CLINTON 23 24 145 163

TOAL MLS AREAS 623 629 142 129

MEDIAN HOME PRICES

SEPT 09 SEPT 08

ST CLAIR $136,187 $142,113
MADISON $133,554 $126,278
CLINTON $118,109 $124,696

TOTAL MLS AREAS $129,425 $127,398

YTD MLS TOTALS 2009 VS 2008

DATES AVG DAYS ON MARKET MED SALE PRICE # OF SOLDS

JAN-SEPT 08 129 $132,099 5615

JAN-SEPT 09 142 $125,162 5032

IN A DECLINING REAL ESTATE MARKET THE HOME THAT SELLS THE SOONEST & FASTEST SELLS FOR THE MOST MONEY!

Paul Walker, Broker Associate since 1997
Realty Executives of Metro East
1109 Hartman Lane, Suite 200
Shiloh, IL 62221
(618) 409-0510

O'Fallon Real Estate
Belleville Real Estate
Scott Air Force Base Real Estate

Did you know that there are quite a few apparently "suburban" areas that are still eligible for USDA Rural Development loans? I was digging around on the USDA web site the other day and, out of curiosity, entered a couple of local addresses. Much to my surprise, I discovered that quite a bit of the area which looks pretty suburban is actually classified as "rural" according to the USDA. Starting just a little east of Hartman Road, from 64 south to E B Street and heading east, there's a fairly big patch of subdivisions (like High Valley Lake Estates and the Greystone Estates, for instance) that fall within the USDA's eligibility map for the rural housing mortgage program.

So what? You ask..... Well, what it means for people in and around Shiloh and Scott AFB is that VA loans aren't the only 100% financing option anymore. That's right, with a Rural Housing mortgage, you can finance the entire purchase price of your new home and you don't need to be a veteran to do it, as long as the home falls within an eligible area. You don't need a down payment, the program requires no mortgage insurance and all that's needed is a 620 representative credit score. On top of that, both seller concessions (generally up to 6% of the purchase price) and gifts are permitted under the program.

To find out if the property you're interested in falls within an eligible area, you can visit the USDA's eligibility finder by clicking here.

At Pan American Mortgage, we offer the USDA Rural Housing Mortgage and can pre-qualify you within a matter of hours. To get YOUR prequalification today, visit my website and apply now!