Tag Archives: Saint Clair County Real Estate For sale

Are You Overvaluing Your Saint Clair County IL Home?

11 Sep

Despite survey after survey showing that consumers expect home prices to continue to decline next year, most owners of Saint Clair County IL homesstill believe their houses are worth more than what their agents recommend.

saint clair county ilNearly three out of four home owners, 76 percent, believe their homes are worth more than the recommended agent listing price. By contrast, 68 percent of home buyers believe homes are overpriced, according to HomeGain’s latest survey, which involved over 400 real estate agents and brokers and more than 2,000 home owners nationwide. The gap between what sellers expect and what agents recommend has actually grown slightly over the past year even though national median prices have declined about 4-7 percent this year. A year ago 73 percent of owners thought their homes were worth more than their agent’s recommended listing price.

A new study by the Research Institute for Housing America, the think tank affiliate of the Mortgage Bankers Assn., documents a profound market fissure caused by owners’ fears and hesitation — what researchers call “negative selling sentiment.  “Nearly 80% of consumers in the study’s survey think this is a great time to buy a house, but more than 92% of homeowners think it’s not a great time to sell.

According to Syracuse University economist Gary Engelhardt, compared with earlier post-recession periods, today’s owners have been more deeply shocked by the extent and severe side effects of foreclosures, short sales, and unemployment. In the aftermath of earlier recessions, such as in the early 1990s, 40% to 60% of homeowners remained relatively positive about their prospects if they chose to sell — far higher than the very few who see it that way today.

Many owners of Saint Clair County IL homes “have not adjusted their price expectations downward” to keep pace with local declines in property values which occurred after the mortgage bust, Engelhardt says, thereby contributing to the sharp divergence in their real estate visions compared with those of buyers.

This is consistent with the results of a study conducted in mid-2011 by Zillow, the online real estate and mortgage information company. Zillow found that sellers nationwide were having trouble coming to grips with what market forces had done to their property values. They knew prices had declined, but they didn’t necessarily think those devaluations applied to their Saint Clair County IL homes.

Click here for an approximate value of your Saint Clair County IL home.

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Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair County IL real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

 

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Small Space Vegetable Gardening for Your Saint Clair County IL Home

4 Sep

Are you feeling the urge to get your hands dirty or have a yen for home-grown fresh veggies but are frustrated because you just don’t have the space at your Saint Clair County IL home to plant a real garden?  Just as the “grow your own produce” movement has taken hold, so has small space and/or container vegetable gardening.

Not sure how to get started?  Visit Vegetable Gardening Online for a free planning grid and planting advice—for a space as small as 1’ x 5’. Or click here for instructions on site selection, soil preparation, and space-saving techniques for your Saint Clair County IL home garden.  Efficiency gardening strategies include companion planting, crop rotation, succession planting, spacing, and vertical growing.  Who knew?

What will you need?  General requirements include soil, plenty of sunshine, and a water source.   Keep in mind, however, that while most vegetables do best in at least 6 hours of sunlight, there a few (spinach, lettuce, broccoli, e.g.) that can tolerate some shade, so don’t discount any potential garden spot.

What to plant in a small space?  Think tomatoes, lettuce, peas and beans, beets, carrots, and peppers.  Each of these vegetables will grow well in a small area, will not require extra care, and will contribute to delicious meals at your Saint Clair County IL home.

Remember, though, that you don’t need a plot of land to garden.  Many vegetables lend themselves well to container gardening. With some thought to selecting bush or dwarf varieties, almost any vegetable can be adapted to growing in a pot. Vegetables that take up little space, such as carrots, radishes and lettuce, or crops that bear fruits over a long period of time, such as tomatoes and peppers, are perfect for container vegetable gardens.  Containers for your vegetable gardens can be almost anything: flower pots, pails, buckets, wire baskets, bushel baskets, wooden boxes, nursery flats, window planters, washtubs, plastic bags, large food cans, or any number of other things.  However, no matter what kind of container you choose, it should have holes at the base or in the bottom to permit drainage of excess water. Another tip:  be careful when using dark colored containers because they absorb heat which could possibly damage the plant roots. If you must use them, try painting them a lighter color.Happy eating!

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Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair County IL real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

Saint Clair County Real Estate For Sale:920 Peony Drive Belleville, IL 62220

23 Aug

Saint Clair County Real Estate For Sale:

920 Peony Drive Belleville, IL 62220

MLS#4110703

Spacious living areas and numerous upgrades make this exceptional family home ready for move-in. A sun-drenched living room with gleaming hardwood floors and picture window views is the ideal place to greet family and friends. Wonderful kitchen space features cabinet and counter space galore, new wall oven, gas cook-top, dishwasher and refrigerator. The sunny breakfast nook with patio access is a great place to start your day. Step downstairs into the huge family room offering all the space you need for relaxing and enjoying good times. Three generously sized bedrooms with hardwood floors and large windows are perfect for a good night’s rest. Awesome backyard with mature trees and a covered patio for grilling and chilling will certainly make your next BBQ a hit. Pack your bags and come on over. We are sure you will want to stay.

Holly Norton has distinguished herself as a leader in the Saint Clair County, IL real estate market. Holly assists buyers looking for Saint Clair County, IL real estate for sale and aggressively markets Saint Clair County homes for sale.

Holly brings with her a keen eye for the details of buying or selling a Saint Clair County, IL home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future – Holly will help make the most of your Saint Clair County, IL real estate experience. Give her a call today, 618-779-9966, and discover the difference she can make during your family’s move.

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Saint Clair County IL Foreclosure Trends – June 2012

14 Aug

There were 1,932 Saint Clair County, IL homes in June 2012, according to RealtyTrac.com. The average sales price of a Saint Clair County, IL home was $131,923 in June, while the average sales price of a Saint Clair County, ILforeclosure home was $72,284, a $59,639 savings.

Saint Clair County, IL Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.68% in June and there were161 new foreclosures.

Saint Clair County IL foreclosure

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Saint Clair County, IL Foreclosure Geographical Comparison

Saint Clair County, IL foreclosures were 0.01% below national statistics, 0.14% below Illinois figures in June.

Saint Clair County IL foreclosure

Saint Clair County, IL Foreclosure Activity by Month

Saint Clair County, IL foreclosure activity is falling. The number of Bank-owned properties increased from 20 properties in May to 48 in June, while the number of Auctions dropped from 13 to 11. Pre-foreclosure activity dropped from 146 homes to 102 homes.

Saint Clair County IL foreclosure

Are you or someone you know behind on mortgage payments and facing a Saint Clair County, IL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. Give me a call for a private consultation.

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Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair County IL real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

Everything You Need To Know About Buying a Saint Clair County IL Home – Part II

17 Jul

Now that you have analyzed your financial situation, received prior loan approval, and determined your needs/desires for your first house, you will want to secure a mortgage for your Saint Clair County IL home.

saint clair il homeAs with any major purchase, you will want to shop around for the best deal. Contact several lenders (bank, savings and loan, credit union, private mortgage company, or a state or federal government lender.) Before doing that, however, you need to familiarize yourself with mortgage types, terminology, and options. Your Realtor will be helpful in this mission, as will the internet. Click here for help in determining which type of mortgage is best for you. This site will help you with options, terminology, calculators, and much, much more.

Another good source of information for first-time home buyers of a Saint Clair County IL home is HUD, an agency which oversees FHA loans. This type of loan is particularly useful if you have little money for a down payment (generally 3% is required), less than great credit, or large monthly bills. Because interest rates are higher and you must also pay loan insurance, however, be sure to research this type of loan carefully before committing to one.

When you have done all of your homework and are ready to actually apply for a mortgage, be sure that you have all the figures, information, and paperwork required by the lender.  It’s an extensive list, but your loan application cannot be processed until your file is complete.  State Farm has a handy online checklist for your convenience.

As always, to avoid mental stress, financial strain, and even real estate fraud/scams such as bait and switch or loan flipping while purchasing your Saint Clair County IL home, be forearmed with accurate information and heed the sound advice of your Realtor.

Coming next!! Part III–finding your perfect first home, making an offer, and preparing for the closing.

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Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair County IL real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

Everything You Need To Know About Buying A Saint Clair County IL Home – Part 1

28 Jun

Everything You Need To Know About Buying A Saint Clair County IL Home – Part 1.

Thinking of Buying a Saint Clair County IL Home? First Get Pre-approved!

22 Jun

Few people can buy a home for cash. According to the National Association of REALTORS® (NAR), nearly nine out of 10 buyers of Saint Clair County IL homes finance their purchase, which means that nearly all buyers — especially first-time purchasers — require a loan.  The real issue with real estate financing is not getting a loan (almost anyone willing to pay lofty interest rates can find a mortgage). Instead, the idea is to get the loan that’s right for you — the mortgage with the lowest cost and best terms.

Realtors routinely urge prospective buyers to get pre-approved for a loan before they even begin saint clair county illooking at Saint Clair County IL homes. They also stress the importance of obtaining a letter of pre-approval rather than of pre-qualification.  Although many homebuyers use these two terms interchangeably, there are significant differences between the two.  Simply stated, pre-qualification lets sellers know that a prospective buyer of their Saint Clair County IL home is likely to qualify for a loan, whereas pre-approval, although not an absolute guarantee, indicates that a loan officer has determined a borrower is credit-worthy and financially able to qualify for a certain loan.

The advantages of searching for a Saint Clair County IL home with evidence of pre-approval in hand are many.  In essence, they include the following:

  • Mortgage preapproval is going to tell you exactly how much money you can borrow. This way, you will know how much your mortgage payment is going to be ahead of time.
  • You won’t waste time (or be sorely disappointed) by looking at houses you can’t afford.
  • Sellers and Realtors will take you seriously.  They are much more comfortable with the certainty that you can obtain a loan (and that the deal won’t fall through), and thus may be more willing to negotiate.
  • Once you find a home, the mortgage process can proceed more quickly because your lender will already have.

Although lender requirements for pre-approval may vary somewhat, be prepared to supply the following information:

  • Purchase Agreement
  • Social Security Number and Date of Birth
  • W-2/1040 Forms
  • Recent pay stubs
  • Bank account statements
  • Credit card statements
  • Debts and liabilities
  • Mortgage or rental histories
  • Investment properties
  • Employers
  • Asset statements
  • Personal property
  • Current and previous statements

Supplying all this information may seem like a time-consuming process, but in the end of your house-hunting journey, you’ll be glad you did it!

Search all Saint Clair County IL Real Estate And Homes For Sale.

Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

Get the Saint Clair County IL Market Report!

You can reach Holly by sending her an email or give her a call, 618-779-9966.