Case in point: Both the median sales price and the total number of sales have shown year-over-year gains in recent weeks.

If you’re a Central Illinois home owner who is considering listing your home on the market, I recommend you continue reading for a helpful overview on the current state of the market.

Properties for Sale in Peoria County

Here’s a summary of recent market activity in Peoria, based on data collected from the real estate website Trulia:

• Currently there are 1,084 homes for sale on the market, including 141 in some stage of the foreclosure process.
• Between January and March, the median home sales price was $106,500, based on 217 sales.
• When compared to the same period in 2011, the median home sales price has increased by 7.6 percent.
• In 2011, the median home sales price was $99,000.
• Also, the total number of home sales increased by 55 percent between 2011 and 2012.
• During the week ending on April 25, the average listing price for homes was $159,321, down 0.7 percent when compared to the week before.
• During that previous week, the average listing price was $160,473.
• Here’s how nearby communities stacked up when it came to median sales price:

Creve Coeur: $49,750
West Peoria: $75,750
Spring Bay: $153,500
East Peoria: $112,375
Peoria Heights: $65,000
Bartonville: $66,750

• During the week ending on April 25, the average listing price for 1-bedroom Peoria homes was $74,135.
• The average listing price for 2-bedroom homes was $99,128
• And the average listing price for 3- and 4- bedroom Peoria homes was $128,679 and $237,641 respectively.
• Here’s how neighboring communities compared in terms of average listing price:

Creve Coeur: $80,416
West Peoria: $78,942
Spring Bay: $129,967
East Peoria: $174,297
Peoria Heights: $166,887
Bartonville: $141,612

Your Central Illinois Real Estate Expert

For more information on the Peoria real estate market and expert advice on how it may affect you as a home seller, contact me, Mary Ann Knell, your Peoria County real estate expert.

I also recommend you take some time to browse my Peoria County real estate website, which is full of helpful resources for sellers just like you.

These tools include:

• Peoria home value analysis
• Getting maximum value
• Seller’s resources

Until next time,

Mary Ann

Evidently, first quarter home sales in the area jumped by 21 percent when compared to the same period a year ago!

This is fantastic news for those Central Illinois home sellers who have been hoping for an increase in demand for Peoria homes like theirs!

Continue reading to learn more about this recent development on the Peoria housing market!

Central Illinois Properties

Here’s some additional information that the Peoria Area Association of REALTORS recently released about the housing market:

• 914 homes sold during the first quarter of 2012, compared with 753 homes during that same period in 2011.
• During the first quarter of 2012, the average sales price was $138,720 for Peoria homes.
• That figure is 7 percent higher than during the first quarter of 2011. During that period, it was $129,500.
• During the first quarter of 2012, the median sales price for homes was $114,000, up from $101,950 during the same period in 2011.
• From March 2011 to March 2012, the inventory of Peoria homes for sale has dropped from 2,986 to 2,540.
• Homes priced between $125,000 and $225,000 have sold the most in recent months.

Peoria real estate analysts continue to credit the area’s unseasonably warm weather as well as an improving jobs outlook for the increase in home buyer demand.

Low mortgage rates have also helped fuel demand for Peoria area homes. Right now, those rates are averaging anywhere between 3.5 to 4 percent for a 30-year fixed mortgage in the area.

Your Peoria County Real Estate Experts

While it’s still a buyer’s market here in the Peoria, Illinois area, recent market activity suggests that the tide is changing.

If you’re a home seller who is interested in selling your home as quickly as possible and for the best price possible, then I recommend you work with an experienced Peoria REALTOR like me, Mary Ann Knell.

I have years of experience selling homes in a number of Peoria area housing markets, including:

• Canton, Illinois
• Edwards, Illinois
• Elmwood, Illinois
• Peoria Heights, Illinois

Contact me today to see how I can help you! I also invite you to check out some of my helpful online home-selling resources, such as:

• Peoria home value analysis
• Getting maximum value
• What’s selling in your neighborhood

Until next time,

Mary Ann

The Heartland Partnership recently recognized the Greater Peoria area for being a top Midwestern Community.

The organization considered a number of factors in its rankings, including economic performance, people, innovation, business/entrepreneurship and livability.

Continue reading to learn about the most recent award to recognize Peoria!

Living in Peoria, Illinois

According to the recent article I read, Heartland Partnership ranked 11 Midwestern cities on the five categories I mentioned above.

Peoria was compared to a number of “peer cities,” including:

• Quad Cities
• Rockford
• Grand Rapids, Michigan
• Fort Wayne, Indiana
• Dayton, Ohio
• Chattanooga, Tennessee

It also identified those cities that Peoria should aspire to be like, including:

• Omaha, Nebraska
• Des Moines, Iowa
• Madison, Wisconsin
• Lexington, Kentucky

When compared side by side, Peoria actually finished above the national average in all five of the categories except innovation.

Here’s how Peoria stacked up when compared to its peer cities:

• Per capita income: 3rd out of 11
• Labor force growth: 4th out of 11
• Number of science workers: 4th out of 11

Peoria had the most room to improve in the area of innovation, where it ranked 9th out of 11 peer cities.

Researchers will continue to update Peoria’ scorecard each year in order to track the city’s progress, the recent article said.

Relocate to Peoria, Illinois Today!

The recent report from the Heartland Partnership is fantastic news for all of those home owners who call Peoria home.

After all, the scorecard drives home a point that many of already know: Peoria is an exceptional place to live.

If you’ve been thinking about relocating to Central Illinois lately, then I recommend you contact me, Mary Ann Knell.

I’ll be more than happy to provide you with all the advice and resources you need to make an informed decision on the local housing market.

And if you’re new to the Central Illinois area in general, you may also find my online relocation resources helpful. These include:

• Relocation guide
• Your relocation specialist
• Corporate relocation

Until next time,

Mary Ann

These things will help make the home-selling process as worry-free as possible for you and your family.

Continue reading to learn more!

Properties for Sale in Peoria, Illinois

As you probably already know, that national economy has created a buyer’s market in many parts of the country, including Peoria.

Recent data, however, is suggesting that that trend is turning around.

After all, as the Illinois Association of REALTORS recently reported, home sales are actually up when compared year-over-year.

To ensure that you’re the kind of home seller who ultimately gets the price you want for your Peoria home, I recommend you follow these steps:

Hire Someone to Inspect Your Home. More than likely, any prospective home buyer you find is going to want to hire someone to inspect your home before they close on it. If there are any major problems found, it could end up costing you the deal. So inspect your home before you ever list the home on the market to address any problem areas upfront – and before buyers find out about that problem for themselves.

Get Your Home in Mint Condition Before Listing: You want your home to be in the best condition possible for home buyers. Not only will this attract more serious buyers but it may also affect how much buyers are willing to offer for your home. Here are some ways to fix-up your home: give the exterior or some of its rooms a fresh coat of paint, clean the gutters, trim bushes in the front yard, etc.

Declutterize Your Home. Clean out your closets and your basement, rearrange furniture in your living room to make the room appear bigger, get rid of excess tools and items in the garage. By declutterizing your home, you’re making it more presentable to potential buyers which will ultimately lead to an offer with a desirable offer price.

Prepare an Extensive and Comprehensive Marketing Plan. You want a plan that’s going to reach your intended audience: those Peoria home buyers who are shopping in your home’s price range. So utilize an array of media to reach these individuals and have your marketing materials focus on your home’s best assets. An experienced Peoria REALTOR like me, Mary Ann Knell, can help you create this plan.

See if your company offers relocation assistance. If you’re moving to another area because of your job, you may consider asking your company if they provide relocation assistance. This assistance consists of a number of resources geared toward making the home selling process easier for you. Check with your human resources department to see if this is an option.

Work with an Experienced Central Illinois real estate agent with a successful track record. When you work with someone who knows the local housing market by heart, you’re increasing your chances of getting a favorable outcome on the market.

Don’t just set a price on your home, set the right price. If you price your Peoria home too low, you could be cheating yourself out of a nice profit. If you price it too high, a ton of prospective home buyers are going to look over your home immediately. Work with your Peoria REALTOR to set the ideal price on your home.

Remain In-The-Know About Changes on the Local Housing Market. From increases in home sales to decreases in list prices, changes on the Peoria housing market can have an affect on your ability to sell your home. So keep on top of the market.

I Can Help You Sell Your Central Illinois Home!

For more expert advice on the most effective way to sell your Peoria home, contact me, Mary Ann Knell.

When I talk with you, I’ll put together a unique marketing plan that is tailor-made for your Peoria home.

While you’re at it, you may also want to check out some of the resources I offer to home sellers online, such as:

• Peoria home value analysis
• Seller’s resources
• Getting maximum value

Until next time,

Mary Ann

If so, then I think you’re going to find today’s Peoria real estate blog extremely helpful!

That’s because I’m going to provide you with tips on how to get the best mortgage possible on your dream home.

Continue reading to learn more!

Investing in Peoria Real Estate for Sale

While it’s true that interest rates and home sales prices are at historic lows around the country, it still can be difficult for interested home buyers to secure a loan these days.

That doesn’t have to be the case for you, however, if you follow these guidelines:

Know what your credit score is. It’s no secret that a good credit score is the best way to score a great mortgage. So see where you stand by getting copies of your credit scores and histories from the three major credit bureaus. Make sure there are no errors that are dragging down your score.

As a general rule, you want a minimum credit score of 620, although Fannie Mae and Freddie Mac loans may require that your score be at least 680.

Prepare the Necessary Paperwork Upfront. No matter which lender you ultimately approach, you’re more than likely going to have to provide them with a number of documents. Thus, have them prepared beforehand. The most common documents that lenders request include: W-2s, income tax returns, your last two pay stubs and bank statements.

Know What Price Range You Can Afford: Make sure you plan a reasonable budget for yourself and leave wiggle room for any unexpected expenses. My Peoria mortgage calculator can make this easy for you as a Peoria home buyer.

Don’t Settle on the First Mortgage You Come Across. There are plenty of factors you should consider when comparing mortgages, including interest rates, points and closing costs.

Check Out Shorter-Term Loans. These types of loans are more affordable than ever since interest rates are at record lows lately. So consider a shorter term loan that will allow you to pay off your home quicker.

Don’t Make Any Major Decisions That Could Affect Your Credit Once Your Loan is Approved. That’s because most lenders will pull your credit at least twice: before they decide to approve your loan and before the loan closes. So make sure you’re maintaining your credit score throughout the process by not applying for any new credit cards, paying your bills on time and not making any major purchases such as a new car.

And if anyone gives you any monetary gifts, be prepared to explain them. Sometimes loved ones will give you a large sum of money to help you make a down payment. While this is a wonderful gesture, you as the home buyer need to be prepared to explain where that money came from if your lender asks. Different types of loans have different types of rules for monetary gifts so check with you lender to see what’s allowed.

Don’t Give Up. If one lender rejects your application, don’t be discouraged. Some lenders are more picky than others when it comes to accepting applications. If an application is denied, ask the lender why. This may help you prepare for future mortgage applications.

Take The Next Step Toward Owning Your Own Peoria Home Today!

I hope you found the above information helpful as a Central Illinois home buyer.

As an experienced Peoria REALTOR, I understand how complicated the mortgage application process can be for home buyers.

That’s why I’m always more than happy to offer my expert advice on the best way to navigate the market.

Contact me, Mary Ann Knell, to see how I can make the home-buying process easier for you and your family.

While you’re at it, make sure to check out all of my online real estate tools, including my helpful home search feature that allows you to search by price range:

• Search Peoria homes under $100,000
• Search Peoria homes between $100,000 and $200,000
• Search Peoria homes between $200,000 and $300,000
• And so on!

Until next time,

Mary Ann

That was just one piece of good news that the Illinois Association of REALTORS shared in its most recent report!

Continue reading to learn more about recent activity on the Illinois real estate market and see for yourself why so many experts are describing current market conditions as “favorable” for area home sellers.

Properties for Sale in Illinois

Here are the findings of the most recent report by the Illinois Association of REALTORS:

• In February 2012, 6,487 single-family homes and condominiums sold.
• When compared to February 2011, home sales have increased by 15.1 percent, or by more than 800.
• In fact, home sales were the best they’ve been since 2008, which is when 7,058 homes sold.
• During the month of February 2012, the statewide median home price was $117,000.
• When compared to February 2011, the median home price has decreased by about 8.2 percent, or about $10,000.
• 49 of 96 reporting Illinois counties showed year-over-year home sale increased during the month of February.
• 39 of 96 reporting Illinois counties showed year-over-year median sales price increases.
• In Peoria County – which includes Peoria, Chillicothe, Dunlap and others – the median sales price increased by 8.4 percent to $108,950.

Many real estate analysts credited the recent increase in home sales on the statewide housing market to a number of reasons, including:

• More foreclosed properties making their way through the system
• Record low interest rates
• Comparatively low sales prices

Analysts even believe that the mild winter had something to do with the high number of home sales because more potential home buyers were out searching on the market.

The fact that the national consumer confidence has risen in the face of falling unemployment rates has also helped create activity on the local housing market.

List Your Peoria, Illinois Home for Sale Today!

While home sale prices are still down year-over-year, that trend may just be changing, according to the most recent market data from the Illinois Association of REALTORS.

After all, as sales activity increases, the inventory of available homes will decrease.

After a while, this will ultimately lead to demand for Peoria area homes exceeding the supply of Peoria area homes.

When that happens, home sellers will have more leverage to set the price they want on their home.

In order to ensure you get the price you want for your Central Illinois home now, I recommend you work with an experienced real estate agent.

Contact me, Mary Ann Knell, to discover how I can guarantee you a successful outcome on the Peoria real estate market.

Until next time,

Mary Ann

If so, I’m here to help!

Below, you’ll find a number of activities going on in Central Illinois this month that are guaranteed to bring your family closer together and to help you live in the present.

I recommend you check out one of these events!

Enjoy These Activities in the Greater Peoria, Illinois Area!

Leader Luncheon: If you’re looking for a great mother-daughter activity this month, why not check out the 34th Annual YWCA Leader Luncheon? During this event, you’ll hear from local women who are making a difference in the community. This year’s keynote speaker will be Lucinda Yates, a formerly homeless woman who turned her life around and ended up creating a multi-million dollar company.

• When: 11:30 a.m. on April 17
• Where: Peoria Civic Center Ballroom, 201 Southwest Jefferson Avenue  in Peoria
• Admission: Prices vary
• More Info: 309-685-7655, ext. 211

Square Dancing: Square dancing is rather popular in many parts of the country. Perhaps one of the reasons is because the dance changes every time the music starts! Come learn the fine art of square dancing yourself during this lesson, led by Jim Rader. Appetizers will also be served.

• When: 7:30 to 10 a.m. on April 21
• Where: Fondulac Administration Building, 201 Veterans Drive in East Peoria, Illinois
• Admission: FREE
• More Info: Call (309) 699-3923

Earth Day Ride: Come discover the natural beauty all around Central Illinois by participating in this Earth Day Ride. The event will start at Lake view Museum and will continue on through the woodlands in Peoria. Stops in clued Lakeview Wilds, Springdale Prairie, Pimetoui Trail and others!

• When: 2 p.m. on April 22
• Where: Lakeview Museum, 1125 W. Lake Avenue in Peoria, Illinois
• Admission: FREE
• More Info: Call (309) 686-7000

Dinosaur Exhibit: Learn about how Tyrannosaurus Rex and other dinosaurs lived during this exhibit at the Lakeview Museum titled “Be the Dinosaur: Life in the Cretaceous.” The exhibit uses recent technological advancements to help patrons see what dinosaurs looked like and imagine what life was like for them millions of years ago.

• When: Now through May 20; Museum hours vary
• Where: Lakeview Museum, 1125 W. Lake Avenue in Peoria, Illinois
• Admission: $6 for adults, $4 for youth and $5 for seniors. Members get in free.
• More Info: Call (309) 686-7000.

Your Central Illinois Real Estate Expert

If you end up making it out to one of the above Peoria area events, please let me know what you think of it!

And if and when you decide to sell your Peoria area home for another, please don’t hesitate to contact me, Mary Ann Knell.

I’ve been selling homes in Central Illinois for years and can help you with all of your home-selling (and home-buying) needs.

Until next time,

Mary Ann

That’s because home sales prices are still considerably lower than they’ve been in recent years and there is still a fairly large housing inventory on the market right now.

Continue reading to learn more about recent market activity in Central Illinois.

Search for Your Dream Home on the Peoria, Illinois Housing Market Today!

Here’s a fairly comprehensive overview of recent market activity in Peoria:

• Currently, there are 1,055 homes for sale, including 139 in some stage of the foreclosure process
• Between December and February, the median sales price for Peoria homes was $108,000, down 57.6 percent when compared to a year ago.
• During the previous year, the median sales price was $255,000.
• Here’s how other Central Illinois communities compared in terms of median sales price:

Creve Coeur: $49,750
Bellevue: $70,000
West Peoria: $68,500
Spring Bay: $153,500
East Peoria: $114,320
Peoria Heights: $76,250

• During the week ending on March 28, the average listing price for Peoria homes was $161,546, up 1.3 percent when compared to the previous week.
• During that previous week, the average listing price was $163,646.
• During the week ending on March 28, the average listing price for a 1-bedroom Peoria home was $70,847.
• The average listing price for a 2-bedroom home was $100,481.
• And the average listing price for 3- and 4- bedroom homes was $126,180 and $240,755 respectively.
• Here’s what the average listing price was in other Central Illinois communities:

Creve Coeur: $88,695
Bellevue: $18,900
West Peoria: $81,819
Spring Bay: $132,586
East Peoria: $168,768
Peoria Heights: $148,772

Begin Your Central Illinois Home Search Today!

As you may have seen in recent Peoria real estate blogs that I’ve published, the market seems to be shifting from one that favors buyers to one that is more balanced between buyers and sellers.

Thus, if you’re hoping to score a great deal on a Peoria property for sale, then now is the time to enter the market!

Contact me, Mary Ann Knell, today and I’ll be happy to go over with you what you’re looking for in a home and to help you find it on the Peoria housing market.

You may also be interested in checking out all of our free online home buying resources, including my helpful home search feature, which allows you to search by price range:

• Search Peoria homes under $100,000
• Search Peoria homes between $100,000 and $200,000
• Search Peoria homes between $200,000 and $300,000
• Search Peoria homes between $300,000 and $400,000

Until next time,

Mary Ann

The latest news report from Washington shows an increase in home sales over the last several months.

Continue reading to learn more about this national housing trend, which is reflected in the Peoria real estate market.

Home Buyers Appear to Have More Confidence in Housing Market Lately

Here’s what the recent article reported in terms of the national housing market:

• The last two months were the best in terms of wintertime resales in five years.
• The sales pace during the month of January was the highest since May 2010
• According to the National Association of Realtors, February home sales slightly dipped, to a seasonally adjusted 4.59 million.
• That February figure is 13 percent higher than the sales pace during the month of July.

It’s also only slightly lower than the seasonally adjusted 4.63 million that characterized January.

As a baseline for comparison, economists think that 6 million characterizes a healthy market.

Meanwhile, the median sales price of homes increased in February for the first time in four months. In February, that price was $156,600.

During that same month, the supply of homes on the market was 2.43 million, an increase of about 4 percent. Experts believe this signals that more home owners are becoming confident enough with the market to list their home.

Economists are crediting the recent favorable market activity to a mild weather and a better job market lately.

List Your Peoria Home for Sale Today!

Just like on the national housing market, Central Illinois home sellers are enjoying increasingly favorable conditions on the Peoria real estate market.

But it takes working with an experienced Peoria REALTOR to ensure an optimal outcome on the local housing market!

So if you’re thinking about listing your Central Illinois home anytime soon, be sure to contact me, Mary Ann Knell.

I’ll assist you in all phases of the home buying process by offering you expert advice as well as a number of helpful resources, such as:

• Peoria area info
• Buying guide
• The WiseBuy Home Center

Until next time,

Mary Ann

That’s because that home inspection has the power to make or break a deal on the Central Illinois real estate market.

As an experienced Peoria REALTOR I can attest: I’ve seen many home buyers walk away from an Illinois home for sale because of what a home inspector found.

Luckily for Peoria home sellers, there are ways to prepare for the home inspection to ensure that your home gets a favorable review.

Continue reading to learn more!

Central Illinois Properties for Sale

Nowadays, it’s very common for Peoria home buyers to hire a professional home inspector to check out the home before they close on it.

This ensures that the home buyers aren’t overlooking a major flaw in the home that could end up being costly to repair – or difficult for resale.

If a problem is found, it could end up delaying the close of the sale for weeks.

To avoid any delays, we recommend that you as the home seller address any issues with the home before it gets to the home inspection process.

Here are the areas that home inspectors most often focus on when delivering their report to home buyers:

• Roof Problems: This is probably one of the top issues that buyers are looking for. If these issues aren’t discovered in time, they can cause thousands of dollars worth of damage to the inside of the home. What’s more, roof repairs in and of themselves can be fairly expensive. Common problems associated with roofs include deteriorated shingles and rotted materials underneath the shingles. Get them fixed now to avoid delays in the sale of your home.
• Mold & Mildew: In this day and age, many people are well aware of the health issues associated with mold and mildew, particularly toxic black mold. If any of these two growths are found, you’re not likely to get the best offer on your home. So get it removed beforehand.
• Leakage Issues in the basements and crawlspaces: The smell of mildew can be a dead giveaway that these rooms are too moist. You can reduce the level of moisture in the air by covering exposed ground with plastic.
• Plumbing Problems: Home inspectors will employ a number of different strategies to locate any potential leaks in your home, which can ultimately cause thousands of dollars in damage. They’ll check the water pressure, run the dishwasher and even check the septic system. So make sure any potential leaks are fixed before the home inspector arrives.
• Electrical Issues: Make sure your electrical system is in full working condition by replacing any inadequate electrical panels and faulty circuit breaker configurations.

Here are a couple of other areas that the home inspector is likely to look at when looking over your home:

• Heating and air conditioning systems
• The foundation of the home
• Home appliances that will be included in the sale of the home

Sell Your Peoria, Illinois Home for Sale Today!

The good news about home inspections is that your contract usually tells you which systems are expected to be adequately working at closing time.

Thus, you’ll have a good reference point when preparing for any home inspections.

For more Peoria home selling tips, contact me, Mary Ann Knell.

As an experienced Central Illinois REALTOR, I’ll be more than happy to walk you through each stage of the home selling process in order to ensure you a favorable outcome on the Peoria real estate market.

Until next time,

Mary Ann