Maybe you're thinking of buying your first home to take advantage of the first-time buyer tax credit. Or perhaps you've outgrown your current home or need to downsize. There are any number of reasons why you might be buying a new home. If you're a first-timer you're likely full of questions about how the process works. If you've bought a home before, it might be time for a refresher. Either way, we're here to give you the information you need.
For a limited time, we'll be at Sacred Grounds cafe in downtown Edwardsville from 12 - 1 on Tuesdays to answer your home buying questions. Let us buy you a cup of coffee and chat about everything from your specific needs to how the process works.
No pressure, no obligation - just a great cup of coffee and a chance to pick the brains of two real estate professionals.
Prefer your own private consultation? No problem. Just shoot us an e-mail or give us a call and let us know.
About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
When we were all little and starting to gain our independence, one thing that was a big deal was dressing ourselves. In our haste and excitement, I'm sure most of us were guilty of not paying attention to the order our clothes were supposed to go on. Sometimes, our underwear ended up on the outside of our pants.
Thanks to the first-time home buyer tax credit, our market is starting to hop with first-time buyers. Since we have a few listings in this price range, we get a lot of calls. It seems like in their haste and excitement to buy their first home, some buyers are putting their "pants" on first and their "underwear" on second.
What I mean is this - the first thing a first-time home buyer should do is educate themselves about how the process works. Don't call the listing agent to see every house that meets your needs. See, there is something called agency - and in the home buying business it's really important.
Agency works like this:
As you can see buying a home is a complicated process. It's very important to educate yourself before you start the process. The best place to start? Shop for a good buyer's agent. Many agents will offer you a consultation before your search starts. This allows you to let the agent know what you're looking for, and in turn the agent can explain to you how the process works.
So, first-time buyers - don't wear your underwear on the outside of your pants. If you're starting a home in search in Edwardsville, Glen Carbon, Collinsville, Troy, Maryville or any other Madison County communities give me a shout. We'll sit down for a consultation and get the process started.
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
This post was inspired by a post written by Brian Block, fellow Active Rain member and Realtor in Northern Virginia and Washington DC. You can read his original post here.
I found this market snapshot that he did of his area really interesting. I wondered how our numbers here in Madison County, Illinois compare. After a few hours of MLS research, here is what I came up with.
From April 2008 til April 2009 2,786 houses in Madison County sold. 174 homes sold in under 30 days, 643 sold in under 60 days, 469 in 90 days, 383 in 120 days, 274 in 150 days, 217 in 180 days, and 626 180+ days.
During this time, there were a total of 6,128 homes for sale. 2,760 of them sold, 1,247 expired or were taken off the market, 1,717 are still active and 404 have a contract pending. This gives us a percentage of 48%... that means 48% of the homes put on the market are not selling.
The number one reason houses don't sell? Price. I can't emphasize it enough. You can hire the best agent in the world, have the best marketing, hold open houses every Sunday - your house will likely still be for sale when your listing contract is up.
Here's the really telling information - if we look at the list to sell percentage of the houses that did sell, you'll see a trend that the longer your house is on the market the farther that number falls. (The list to sell ratio is real estate speak for the percentage of your asking price that you receive. For example, a $100,000 asking price with a 98% list to sell ratio is a closing price of $98,000).
Here's a break down...
30 days or less on the market - list to sell ratio is 98.8%
31 - 60 days on the market - list to sell ratio is 96.3%
61 - 90 days on the market - list to sell ratio is 95.1%
91 - 120 days on the market - list to sell ratio is 94.5%
121 - 150 days on the market - list to sell ratio is 94.4%
151 - 180 days on the market - list to sell ratio is 94.7%
181+ days on the market - list to sell ratio is 93.7%
The average listing price of a home during this time in the MLS was $155,165. If you listed at the right price from the beginning, you could expect to receive 98.8% of this price - or $153,303. If you priced your home too high, and had to chase the market down you would have sold for around $145,385 - a hypothetical loss of $7,918.
The best advice I can give to sellers is this... hire an agent that tells you the truth. Do not chose your listing agent based only on the price in their CMA. Ask them to talk to you about the current market conditions, how long you can expect your home to be on the market at different price points and what the current competition looks like. Remember that the market conditions - not the agent - determine the price of your home.
Don't risk your home becoming stagnant on the market. Price it right from the beginning, and the whole process will be faster, smoother and easier on you and your bottom line.
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
This weekend grab your canine companion and head down to St. Louis for the annual "Bark In The Park" event. (My canine buddy is my dachshund, Missy - she's pictured below.)
Every year animal lovers and their four-legged friends converge on Cricket Field in Forest Park for a weekend of fun activities. This year's schedule begins with a Dog Walk for Animals at 11 am. 
Then get ready to be entertained by the Purina Incredible Dog Team. From noon until 2 p.m. the AB Clydesdales will be available for photos. At 1:00 Busch Gardens and Sea World presents Amazing Animal Athletes.
Make sure your dog is dressed to the nines and enter the Best Dressed contest. Or maybe your dog is athletic and you'd prefer to win the best stunt or trick award. There is also a contest for best dog/owner dance and best yodel or howl. (Missy would be perfect for this one).
Doggie derbys begin at 2:15, and awards range from fastest to slowest in different size categories.
All money raised at Bark In The Park goes to the Missouri Humane Society to help obtain veterinary care for homeless animals. The requested donation is $25 for adults and $5 for kids 12 and under and includes a free Bark In The Park t-shirt.
Missy and I will be there, will you? :)
For more information, check out the Humane Society of Missouri's website at http://hsmo.org/
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About the Author: Kristina Pratt is a Realtor with the Just Ducky Homes team at Coldwell Banker Brown Realtors in Edwardsville, Illinois. She and Nancy Milton help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs of Madison and St. Clair counties with special emphasis on the communities of Edwardsville, Glen Carbon, Maryville, Collinsville and Troy. For more information, visit their web site at http://www.JustDuckyHomes.com or e-mail Kristina@JustDuckyHomes.com
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Selling or buying a home in a challenging market can be both exciting and terrifying. We're here to make the job easier. Call, text or e-mail today to learn how we can help.
GOSHEN REALTY GROUP AT RE/MAX PREFERRED PARTNERS OFFERS PROFESSIONAL REAL ESTATE SERVICES FOR BUYERS IN MADISON COUNTY, ILLINOIS, INCLUDING EDWARDSVILLE, GLEN CARBON, MARYVILLE, TROY, COLLINSVILLE, GRANITE CITY, AND THROUGHOUT THE REGION.
* RESIDENTIAL REAL ESTATE SALES * NEW HOME SALES * EXISTING HOME SALES * FIRST TIME HOME BUYERS * RELOCATION * INVESTMENT PROPERTIES * FIXER UPPER HOMES * LUXURY HOMES FOR SALE * HORSE PROPERTIES * FARMS AND SMALL ACREAGE * VILLAS & CONDOS * DOWNSIZING SENIORS * SHORT SALES * HUD FORECLOSURES
Goshen Realty Group is led by Nancy Milton and Kristina Pratt, Realtors based in Edwardsville, Illinois, the seat of Madison County in St. Louis' Illinois suburbs. Both Nancy and Kristina are Madison County natives who have lived and worked throughout all corners of the county once called The Land of Goshen by its earliest pioneers. They specialize in serving this market.
NOW IS THE TIME TO BUY WITH NEAR RECORD LOW INTEREST RATES, GREAT HOME SELECTION AND HOME PRICES THAT ARE AFFORDABLE.
Buyers, are you moving up? Downsizing? Dreaming of a first home? Perhaps you're searching for an investment property that will work as hard as you do?
Whether you're looking for a sophisticated executive home, a rural horse farm or a cozy starter cottage, together you and Goshen Realty Group's agents can find the right place for you to call your own.
Visit Goshen Realty Group at www.GoshenRealtyGroup.com, call or text Kristina Pratt at 618-917-0775 or e-mail Kristina@GoshenRealtyGroup.com for personal attention and assistance with your search.
From the lively county seat of Edwardsville -- named to Family Circle magazine's 10 Best Towns for Families 2010 and the impressive campus of Southern Illinois University to Glen Carbon -- named to Money Magazine's "America's Best Places to Live" list -- the cities and villages of Madison County offer small town community life just minutes away from the big city amenities of St. Louis.
Collinsville, Maryville, Troy, Granite City, Godfrey and Alton also welcome new residents to a big variety of housing options.
Bethalto, East Alton and Wood River are seeing renewed interest thanks to the I-255 extension and industrial expansion. Adjacent to Madison County, St. Clair County is a fast-growing hot spot with O'Fallon, Shiloh and Swansea. Fairview Heights is a shopper's dream and Belleville presents historic properties and a vibrant downtown.
Looking for a country lifestyle? Northern and Eastern Madison County and Southern Macoupin County may have what you need.
Imagine a close commute to your Illinois workplace or a shorter drive to your St. Louis city or county job than co-workers who live in far West County and St. Charles County. The Illinois communities we serve all are convenient to I-270, I-70, I-255, I-64 and I-55.
Ask about the Five Easy Steps to Owning a Home of Your Own. Together with Goshen Realty Group you can turn your home buying dreams into reality.
FINANCING OPTIONS FOR GOSHEN REALTY GROUP'S BUYERS
Our network of qualified lenders are experts at writing loans for Madison County, Illinois buyers. They can have you pre-approved quickly so you'll know how much house you can comfortably afford before we begin to search real estate listings in Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Highland, and cities, towns and villages all across the county.
VA LOANS: Are you a veteran of the United States Military? We love VA buyers! Call for a consultation and we will go over your financing needs and the great opportunities available.
USDA RURAL DEVELOPMENT LOANS: These loans may be available for specific locations in Madison County, Illinois and allow the buyer 100% financing.
FHA LOANS: These loans require only 3.5% down (which can be gifted) and allow contributions from the seller.
FHA 203(k) LOANS: Buying a fixer upper? These loans allow you to wrap the home loan and the money you'll need to rehab or improve the property together in one package.
MADISON COUNTY GRANT PROGRAM: If you meet certain income requirements, you may be eligible for grant money for your home purchase from Madison County, Illinois. Other communities in our territory fund grant programs from time to time. We'll find out if you're eligible.
THE SELLER HAS AN AGENT, SHOULDN'T YOU?
Why would you buy real estate in Edwardsville, Glen Carbon, Maryville, Collinsville or throughout Madison County, Illinois without the help of a buyer's agent from Goshen Realty Group?
Did you know that the agent whose name is on the For Sale sign in front of the home you just drove past is working for the seller? That agent is obligated to work hard to get the best price possible for their seller's home -- from you, the buyer!
You are allowed to have your own agent in a transaction -- a Buyer's Agent.
A Buyer's Agent is someone who you have chosen to represent you in the purchase of your new home. Goshen Realty Group will help you with these steps:
1.) Your Buyer's Agent will help you find homes that fit your needs and satisfy many of your additional "wants."
2.) Next your Buyer's Agent will set appointments for you to see those homes during private showings and discuss the pros and cons of each home with you on site.
3.) When you have picked the home that is best for you, your Buyer's Agent will research the target property and work with you to decide on an offer price based on a wide variety of variables.
4.) Your Goshen Realty Group Buyer's Agent will then present your offer to the Seller's Agent and will help you negotiate for the home you want.
5.) After your offer is accepted, your Buyer's Agent will make sure you have the proper inspections performed on the home and -- if necessary -- negotiate with the Seller's Agent for any needed repairs or revisions to the contract.
6.) Finally, your Buyer's Agent will help deal with the multitude of details and solve the inevitable problems that must be handled properly to ensure a successful closing.
7.) You move into your new home!
The services of a buyer's agent from Goshen Realty Group are provided to you at no charge. How does that work? Our fees are paid at closing by the seller of the home you ultimately decide to buy. It's really that simple.
WE LOVE TO HELP OUR BUYERS WITH NEW CONSTRUCTION HOMES AND REAL ESTATE IN MADISON COUNTY, ILLINOIS If you're looking for a new home, be sure you're using an agent. You will have someone who acts as your advocate during the process and the homebuilder will pay the Buyer's Agent's fees, so our services cost you nothing. There are plenty of new home choices in communities across Madison County beginning as low as the $145,000 range.
Check out this blog post about someone who bought without the help of a buyer's agent and how much he overpaid.
BUYER TESTIMONIALS FOR GOSHEN REALTY GROUP
Nancy & Kristina: "It only takes a moment to say thank you, but your help and thoughtfulness will be remembered for a long time. I don't know if we'd have made it through the home selecting and the buying process without your help." --Kathy & Bob ________________________________________________________________________________________________
Nancy & Kristina: "I just wanted to personally thank you for making our experience as a first time buyer go so smoothly. I has no idea what I was doing...the only thing that I was positive about was that I wanted to live in Collinsville. Doing business with you made this a breeze and stress free. You are a pleasure to work with I will be sending anyone that is in the house buying market your way! -- Danyale ________________________________________________________________________________________________
SEARCH REAL ESTATE LISTINGS AND HOMES FOR SALE ON GOSHEN REALTY GROUP'S WEB SITE ________________________________________________________________________________________________________________
You can get a free Property Manager Account at www.GoshenRealtyGroup.com and search listings by city, price range and features. Then when you're ready to see homes in person, call Kristina Pratt at 618-917-0775 or email Kristina@GoshenRealtyGroup.com.
Search homes for sale in Edwardsville, Glen Carbon, Maryville, Troy, Collinsville, Granite City, Bethalto, Wood River, Alton, Godfrey, Highland, Worden, Dorsey, Holiday Shores, Prairietown, Moro, Midway, Pocahontas, St. Jacob and more towns, cities and villages in Southwestern Illinois.
ATTENTION SIUE PARENTS
Goshen Realty Group's agents specialize in helping you find great homes for purchase for your Southern Illinois University at Edwardsville (SIUE) students. Parents often buy homes in the Edwardsville or Glen Carbon region to save on dorm costs. Their student lives in the house with roommates for three, four or five years and the roommates' rent payments can cover some of all of the savvy parent's mortgage costs. This is especially cost effective for parents who have more than one child who will be attending SIUE. Ask us for a list of suitable three and four bedroom homes in your desired price range. At the end of the student's time at SIUE, Goshen Realty Group will place the house back on the market for the next parent or rental property investor. You can't afford not to handle your student's housing needs in this way. Read more about homes currently for sale that would help your family find off campus housing for SIUE students.
ARE FORECLOSURES AND SHORT SALE HOMES IN MADISON COUNTY, ILLINOIS RIGHT FOR YOU?
It depends.
If you're interested in purchasing a home in Madison County, Illinois that is in foreclosure or has been listed as a short sale property, call Goshen Realty Group at 618-917-0775 to discuss your options.
These types of sales take patience and persistence, but for the right buyer, a good deal can be found. Are you the right buyer? Contact us to find out. In the meantime, read our guide to buying HUD foreclosure houses in Illinois.
GOSHEN REALTY GROUP AT RE/MAX PREFERRED PARTNERS OFFERS PROFESSIONAL REAL ESTATE SERVICES FOR SELLERS IN MADISON COUNTY, ILLINOIS INCLUDING EDWARDSVILLE, GLEN CARBON, MARYVILLE, TROY, COLLINSVILLE, GRANITE CITY, AND THROUGHOUT THE REGION
* Single Family Homes * Multi-Unit Properties * Condos * Villas * Land * Estates * Short Sales * Investments Properties * Student Homes * Farms * Horse Properties * Small Acreage * Building Lots *
Selling your home in a challenging market takes special skills. Goshen Realty Group can market your property to a broad variety of potential buyers. Talk with our agents about pricing strategies, competition, average days on the market, the condition of your home and how all of these things can affect the sale of your property.
WE DON'T JUST WANT TO LIST YOUR HOME...WE WANT TO SELL IT
With a strong Internet presence, a network of advertising and professional marketing skills and the strength of the RE/MAX brand, Goshen Realty Group can work to get the best possible price for your property in current market conditions.
If you're considering selling your home, you know that you have a lot invested in your family's property, including your time, your money and your emotions.
Selling or exchanging an investment property? Maybe it's time to make sure your cash on cash return is as strong as it should be by listing your current investments and locating new ones.
It's critical to make the right decisions when you decide to sell. Which Realtor is right for you? And which agents will work hard on your behalf and be a true partner in your sale?
The answers to your selling questions? Goshen Realty Group.
Homeowners, ask for a free analysis to help you determine the right price for your home in today's real estate market. A house that lists at the right price will have an immediate advantage over the competition. Add aggressive Internet marketing to the mix and you have the perfect combination to get your property sold.
Investors, Goshen Realty Group can look at the return your properties are providing and give you the information you need to make smart sale, purchase and exchange decisions.
Once Goshen Realty Group has listed your property, an extensive marketing and advertising network will go to work to attract qualified buyers and inform agents and brokers. These systems will give those buyers access to instant information about listed properties like yours.
We will work with you on every aspect of your sale, from introducing your property to the brokers and agents in the real estate community and placing your listing in the Multiple Listing Service to creating a customized advertising and marketing plan that works.
Learn more from a personal listing presentation. Call or text Kristina Pratt at 618-917-0775 or send an e-mail to Kristina@GoshenRealtyGroup.com to schedule an appointment today.
We don't take every listing, but every listing we take, we take to sell.
SELLER TESTIMONIALS FROM GOSHEN REALTY GROUP ___________________________________________________________________________________________________
Nancy & Kristina: This is a long-overdue letter to tell you how much my family and I appreciate all your hard work to sell our home. From our first meeting with Nancy to look at purchasing a home to our last interaction to say "You sold your house!", the two of you have been professional, courteous, empathetic, diligent, humorous, and just flat-out awesome! Between the two of you, every single aspect of our home-sale was covered. Dave and I had been talking about selling our house for YEARS, making improvements, watching the market, strategizing... and the two of you came in and basically read our minds. We felt completely taken care of. Pampered even. When we suddenly decided to move across the state to be near family, leaving the house behind, we felt confident in your abilities to handle everything from afar. And you did not let us down! Getting two offers within two weeks of leaving, we never had to come back to town! All I can say is THANK YOU. I really came to feel like you two were family, and I only wish that you could be here with us in Milwaukee when we go house hunting next spring. I will continue to tell my friends in Madison County how amazing the two of you are, and I wish you many many years of continued success." -- Meaghan and Dave" ___________________________________________________________________________________________________
Nancy & Kristina: "Once again I'd like to thank you for all of your help in making the sale of my property so very successful. In every way that I can think of your professionalism was and is outstanding. Thank you very much." -- Steve ___________________________________________________________________________________________________
WE SERVE HOME BUYERS AND SELLERS IN ST. LOUIS' ILLINOIS SUBURBS AND SPECIALIZE IN THE CITIES, TOWNS AND VILLAGES IN MADISON COUNTY, ST. CLAIR COUNTY, MACOUPIN COUNTY AND JERSEY COUNTY ON THE "MIDDLE COAST" OF THE UNITED STATES -- THE EASTERN BANKS OF THE MIGHTY MISSISSIPPI RIVER.
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National Association of Realtors
Illinois Association of Realtors
Greater Gateway Association of Realtors
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