Real Estate info- buying, selling and everything in between

UPDATED & RENOVATED - CONSIDER THIS ONE BRAND NEW - INCLUDING BRICK,SIDING,WALLS,WINDOWS,FLOORING,APPLIANCES,COUNTERTOPS,VANITIES,ROOF,CABINETS,PLUMBING FIXTURES,HVAC & MORE. VAULTED LIVING ROOM, FAMILY ROOM HAS WET BAR, ALL BATHS TILED WITH BACKSAVER VANITIES. SIDE ENTRY OVERSIZED,FINISHED TWO CAR GARAGE. BEST HURRY ON THIS ONE - CONSIDER IT BRAND NEW IN O'FALLON AT AN AFFORDABLE $179,900.

 

 

February...not the most exciting month for Real Estate in O'Fallon IL, but 17 homes did close.  Interesting to note that 17 homes closed in February of 2009 so no downward movement here, GOOD news.

Currently there are 45 homes under contract and 225 for sale so it is still a fantastic time to purchase.  The tax credit is still in place and rates continue to be very competitive.

 

Price range should be no real surprise and...they are not.  Below $300,000 was 100% of the activity.

Looking at the same data from a year to date perspective provides more of the same with 97% of the homes closed in 2010 below $300,000.

 

 

 

 

As mentioned above 17 homes closed in February of 2009 in O'Fallon and the number held steady for 2010.

 

 

 

This is encouraging news but it is difficult to ascertain the true pulse of the market as the tax credit is certainly helping to stabilize home sales on some level.  This was also the case last October/November with inflated numbers when the credit was originally set to expire.

Year to date numbers look good as well with +7 more homes closed in O'Fallon over this same time period last year.

 

 

 

The average sales price for February 2010 was $165,692 with an average market time of 132 days.

 

 

On Sunday March 7th over 1000 people showed to run in the AOH (Ancient Order of Hibernians) 5K run hosted by

Toolen's Running Start in Shiloh IL. Special thanks to all the volunteers who helped to make this another success! Below is some video from the start of the race along with some of the finishers Enjoy!

An excellent way to recognize sustainably harvested Hardwood or Bamboo is to look for the FSC Certified label.

 

 

FSC is an acronym for "Forest Stewardship Council," which was established in 1993 to change destructive logging practices as an effort to protect the earth's natural habitat and prevent deforestation.  The Forest Stewardship Council represents the world's strongest system for setting Forest Management standards ranging from legal issues, regional scenarios, and environmental impacts surrounding forest management.  Their mission is to promote "environmentally appropriate, socially beneficial and economically viable forest management."    

To simplify, think of it this way - with FSC certification, every time a tree gets cut down for something, two get planted in its place.  It goes much deeper than that, but provides an idea of what the Forest Stewardship Council is about.  When a forest manager makes the decision to strive for FSC Certification, they must conform to all applicable FSC rules and practices first.  They cannot use the FSC label without first earning certification.  Practically anything that you can purchase that is manufactured from trees can be FSC Certified.  Not just limited to building materials and finishes; paper, pencils, even musical instruments can be made from FSC certified wood!    

Until recently, Bamboo products were not eligible for FSC Certification, but thankfully, they are now!  Though it is a popular renewable resource because it regenerates approximately every 7 years, the harvesting practices of some bamboo growers are less than sustainable.  Some bamboo is harvested too early, and some countries are actually deforesting their native trees to make way for bamboo forests!  Bamboo absolutely needed to be regulated.

 

For more information, go to the Forest Stewardship Council's website:  http://www.fscus.org/about_us/

Credit to Melanie Holden (Holden Design Group)

 

From time to time my wife (the worlds BEST Interior Designer, yes I may in fact be biased) is asked to contribute to a local Magazine (St.Louis At Home www.STLMag.com ).  In the last few weeks the issue of remodeling and sustainability has come up more than once so thought this article may offer some insight to any of you thinking of starting a project.

For more info visit www.HoldenDesignGroup.com

 

 

By Melanie Holden, LEED AP & DesignSpeak contributor 

     

 

When you make the decision to implement sustainable practices into your life, education is critical in order to understand what you're truly looking for in sustainable products. 

Cabinetry is a big one. One of the largest investments you can put into your home. 

What's the first thing you think when considering "green" cabinets? The material?  Bamboo? Bamboo is a beautiful, durable, option, just remember to be very cautious of where it originates and how it is harvested. There are a few reliable resources for it, but many are not.  Smith and Fong's Ply-Boo is an excellent one.

How about cabinets made from reclaimed materials? Are those reclaimed materials local? How far have they been transported to get to the manufacturer, then to you?  If your cabinets are made from virgin lumber (wood that has come directly from trees that have been cut down to make them), is it FSC Certified?  So much to consider! Luckily, we have an excellent local resource called Greenhaus Cabinets that manufactures cabinetry to meet any and all of those requests.

So, lets say you make the decision to go with the responsibly harvested bamboo or hardwood.  Remember, it is often manufactured as a veneer in lieu of solid wood. Why, you ask? There are a few reasons, but a notable one is to minimize the natural expansion and contraction that wood goes through with changes in temperature and humidity.  Solid wood cabinets aren't always particularly practical in a kitchen or bathroom. 

Want more to consider? 

What is the cabinet made of under that veneer? How is the veneer attached to the substrate underneath?  How is that veneer actually finished? It doesn't make much sense to take a smart product like Ply-Boo, FSC Certified Maple, or Missouri Red Oak-only to use a smelly adhesive to attach the substrate that is laden with more VOC-purging chemicals and then smother it with a beautiful finish that happens to be loaded with yet more VOC's!  The horror! 

Back up... Not so sure what's so awful about VOCs... Or what they actually are for that matter? VOC stands for volatile organic compound. They are (often toxic) gases omitted from various products. They constantly vaporize into the atmosphere around you, polluting and infringing on your fresh air-space.  You know that new carpet smell-blame VOCs. It's no surprise that concentrations of many VOCs are higher indoors than out (one great reason for a well-ventilated house or building). Some common health effects are headaches, various irritations, nausea, or worse. 

Thankfully, there are products like formaldehyde-free Pure Bond, a nontoxic soy-based plywood. Water and Soy-based finishes are available as well. Combined, these factors contribute to a VOC-free end product. Locally, Centorbi Custom Cabinetry does beautiful work, using formaldehyde-free plywood upon request.

    

When seriously considering new products to put into the sanctuary of your home, you need to open yourself to the idea of spending a little more money up front. These cabinets are not always price competitive with the throw-away cabinetry you can pick up at homecenters. However, in return you invest in lifetime quality and contribute to healthy living. 

All of this, above and beyond your contribution to a healthier environment.

Good news!

19 homes closed in January in O'Fallon IL.  Even better, this is up 6 from the January 2009  total of 13.

Of the 19 , all were re-sale.  Average market time was 181 days.

Bad news!

Prices are down.  Average sales price for Jan 2010 was $136,000 down from $157,000 for Jan 2009.

 

 

As I mentioned above 19 homes closed in Jan 2010, this is up from 2009 and in line with 2008 numbers.

 

 

Price still continues to dictate what is selling.  This trend should hold steady thru the first quarter of 2010.

 

 

So all things considered...not bad there are signs of life.  Currently there are 37 homes under contract in O'Fallon IL.  Showing activity is strong and interest rates are still very attractive. 

 

Stay Warm!

 

 

 

 

 

 

Greetings!

 

There is no escaping the images of loss and destruction from the earthquake in Haiti.  The response has been overwhelming to say the least.  In an effort to assist even further we are collecting shoes.  So look in your closet, look under your bed.  In my case take it away from the dog.  

 

Chances are there is something for your feet you no longer need but can be put to very good use.  No worries we won't comment on your choices in footwear.  Both of our offices have been set up as drop off locations or just email us and we will come by and pick them up for you.

 

Thank you in advance for your continued support.

1668 Windham Way

O'Fallon IL 62269 (map it)

 

4 Emerald Terrace

Swansea IL  62226 (map it)

 

Regards,

Real Estate Market Update O'Fallon IL December 2009:

 

After a mild summer winter has arrived.  As I write this it is 8 whole degrees. 

December was a brisk month for Real Estate in O'Fallon.  27 homes closed so a lot of folks got a new home for the holidays.

 

Of the 27 that closed:

25 were pre-owned; these had an average sales price of $156,922 and an average market time of 177 days.

2 were new construction, with an average sales price of $237,907 and 166 days on the market.

Activity has been consistent from 2007-2009 for the month of December.  This is encouraging given the current state of the Real Estate Market.  For example In 2007 26 homes closed, 2008 30 homes closed and in 2009 26 homes closed.

 

While this is good news the average price for homes closed in December has dropped.

In 2006 the average sales price for December was $221,006 this December (2009) it is down to $162,921.

 

 

Price range still holds steady, the bulk of the homes closed fell below the $300,000 mark.  This is a trend that has been consistent during 2009.

 

 

 

Stay tuned for the 2009 Year in Review!

 

 

 

Hello, The Us Treasury very recently set forth new more streamlined guidelines for the Short Sale process. With Foreclosure and short sales on the rise this is VERY good news. The video below will give further explanation. For even more information, please visit us at OFallonShortSales.comHappy Holidays and stay Warm!

 

 

 

 

November 2009 Real Estate Market Update for O'Fallon IL.

 

Locally, things continue to look up.  This November saw 35 homes close. This is an increase of more than 130% from November 2008.

Of the 35 that closed:

30 were pre-owned homes with an average market time of 118 days and average sales price of $154,055.

5 were new construction with an average market time of 148 days and an average sales price of $242,453

 

 

After a huge spike in October (due to the expected expiration of the tax credit) the market continues to be very active. As you may know, the tax credit has been expanded and extended.  We expect this will  continue to fuel our local Real Estate market.  Currently there are 46 homes under contract in O'Fallon IL.

The graph below illustrates a month by month look at home closings in O'Fallon.

 

 

 

 

While we remain optimistic about the future, when looking back we are still far below years past but appear to be stabilizing.

 

 

 

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The chart below shows the percentage of homes under contract by month over the last 12 months.

 

Supply continues to exceed demand:

 

Another promising point is that average sales price may be stabilizing:

 

 

So all things considered, not a bad month at all.  The effect of the extension of the tax credit remains to be seen at this point, but with 46 homes under contract it should be safe to assume that it should continue to have a positive impact over the next several months.  For a detailed explanation of the expansion and extension click here.