O'Fallon, IL Real Estate News

By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
June 2010 And Mid Year Quarter Real Estate Market update for O'Fallon IL.   Nationwide: More money for troubled homeowners... The Treasury Department has approved another $1.5 Billion to help homeowners in the five States with the highest levels of foreclosure rates.  Arizona, California, Florida, Michigan and Nevada all will be receiving the additional funds.  Currently on the table for discussion (and should pass by the end of the month) is another 600 Million  for the next five states on the list, North Carolina, South Carolina, Ohio, Oregon, Rhode Island.    Locally: The end of the tax credit came and went...then came back.  The original June 30thdeadline for closings was extended to assist those caught in the backlog of home loans in the pipeline that could not get the loan package...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
Looking for a home for sale in O'Fallon, IL? Click here to see map of O'Fallon, IL O'Fallon Data & Demographics   St. Clair County - Crime Statistics St. Clair County - Personal Income and Earnings Data Illinois Economic Conditions - Quarterly Report by FDIC Illinois Health Statistics - National Center for Health Statistics O'Fallon, Illinois Neighborhood Demographics O'Fallon, Illinois Local Area Business Patterns St. Clair, Illinois Construction Statistics - Building Permits O'Fallon Schools & Education   Career Schools and Local Colleges O'Fallon and St. Clair County Schools (All) List Public Libraries in Local Area O'Fallon, IL is located along Interstate 64 at exits 13, 16 and 19. Exit 19 will take you to Scott AFB to the south of O'Fallon, just 8 minutes down Air Mobility Command ...
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By Abby Waltz
(Homes for Heroes)
Here is a fantastic article about what some military home buyers don't realize when selecting what type of loan they'd like to use to finance their home from one of my favorite websites! No PMI with VA Loans No private mortgage insurance is just one of the many benefits of the VA Home Loan Program. The U.S. Department of Veterans Affairs sets guidelines so that VA-approved lenders can offer attractive loan features to qualified VA borrowers. ...VA borrowers are not required to pay a monthly Private Mortgage Insurance (PMI) premium... One of the unique features of VA loans is that they don't require private mortgage insurance (PMI). PMI is insurance on a conventional mortgage with more than an 80% loan-to-value (LTV) ratio. (FHA also has a mortgage insurance premium ("MIP") on most of it...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
Tax credit extension passes Congress: U.S. homebuyers who are eligible for a Homebuyer Tax Credit now have until Sept. 30 to close the transaction and receive the credit. Congress has extended the closing deadline, which had been June 30, by an additional three months. President Barack Obama is expected to sign the legislation soon. The action affects an estimated 180,000 homebuyers who, because of circumstances beyond their control, had been unable to close on their purchase by the original deadline. Short Sale and REO transactions are holding up many of these closings. Qualified first-time buyers can receive a credit of 10 percent of the home price up to $8,000. Repeat buyers are eligible for a credit of up to $6,500.

 The National Association of Realtors estimates that 4.4 million ...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
O'Fallon, IL Homes for Sale O Fallon Real Estate Overview Today, July 1, 2010 Market View for O Fallon Info Avg. Listing Price $219,174 Wk ending Jun 22 +$27 +0.0% w-o-w Median Sales Price $195,000 Mar '10 - May '10 +$8,500 +4.6% y-o-y 387 Homes For Sale 0 Open Homes 310 Recently Sold 72 Foreclosures Average Listing Price $219,174 +0% w-o-w Median Sales Price $195,000 +4.6% y-o-y Average price/sqft $143 +2.1% y-o-y Number of Sales 113 -10.3% y-o-y More O Fallon Market Trends O Fallon Summary Average price per square foot for O Fallon IL was $143, an increase of 2.1% compared to the same period last year. The median sales price for homes in O Fallon IL for Mar 10 to May 10 was $195,000 based on 113 home sales. Compared to the same period one year ago, the median home sales price increase...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
Old Collinsville RoadReconstruction The project to reconstruct Old Collinsville Road between the I-64 Frontage Road (Salem Place) and Milburn School Road, should be starting sometime in July or early August 2010. This is an apprx 1 mile stretch of roadway. It will continue through apprx July 2011. This is a joint venture between the cities of O'Fallon and Fairview Heights, IL. Once this is complete it will be nice for all of the new subdivision home owners in Fountain Place in Fairview Heights and , Savanah Hills, and Chesapeake Junction both subdivisions located in O'Fallon, IL. St. Clair County has also received bids to begin a 2.1 mile project stretching from Scott-Troy Rd to just south of Bethel School Road. They will be installing turn lanes to Seven Hills Road and at Scott-Troy Rd...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
    An amendment that would have extended the U.S. Homebuyer Tax Credit closing deadline from June 30 to Sept. 30 died with the American Jobs and Closing Tax Loopholes Act of 2010, which also would have extended U.S. jobless benefits. The Senate voted Thursday 57-41 against the legislation. NAR estimates that as many as 180,000 buyers who went under contract before April 30 could miss out on the credit without an extension. "Unfortunately, this piece of legislation ended up being very controversial," says Dave Liniger, RE/MAX Chairman and Co-Founder. "We were optimistic when the Senate approved the amendment adding the tax credit extension to the jobless benefits bill. "It's going to be tough to get the extension passed by the deadline, but we won't stop trying. In the meantime, agents ...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
New Home construction in O'Fallon, IL has signs of new life. Home construction in O'Fallon has been down significantly over the past 18 months. But in March 2010 it has taken a move upward with 19 new single-family home permits being issued by the Planning and Zoning Department. In March 2009 there was only 9 permits issued. So far this year there from January thru March 2010 that has been 24 permits issued for new single family homes, up slightly from the 22 that were issued during that same period in 2009. In 2005, which was the best year for new construction homes in O'Fallon there was 384 permits issued, and for all of 2009 there was 100 permits issued in O'Fallon for new single family homes. O'Fallon, IL has retained its position as the 5th fastest growing city in the St. Louis Met...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
Looking for thing to keep you busy this summer in O'Fallon, IL? Here is a list of Upcoming Events in O'Fallon, IL June 26, 2010 O'Fallon Little Panthers Cheerleading Camp, OTHS South Gym, Contact: Erica McGill, cheerleading@littlepanthers.com August 14 Rotary Family Dat at Busch Stadium, Contact 618-787-7873 Sept 3 O'Fallon Police 17th Annual FOP Golf Tournament, Clinton Hill Country Club, Contact: Brian Gimpel 618-624-4545 Sept 14 O'Fallon-Shiloh Chamber of Commerce Golf Tournament, Far Oaks Golf Course, Contact O'Fallon-Shiloh Camber of Commerce 618-632-3377 Sept 11th and 12th Scott Air Force Base Open House, Airpower Over the Midwest featuring the Blue Angels, Contact: Wing Public Affairs 618-256-4241 Sept 25th and 26th Strange Folk Festival, 308 E Fifth, Contact: Parks & Recreation ...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
Real Estate market update for O'Fallon IL May 2010 NATIONWIDE: The results are somewhat mixed on the effect of the Obama administration's program that allows homeowners to modify their current mortgages in an effort to keep them in the home and avoid foreclosure. By the end of April 2010 roughly 1.2 million mortgages had been given a trial loan modification.  Just over 25% of them have already been dropped from the program according to the Wall Street Journal.  The two main reasons for being eliminated from the program were: •1.)    Failure to make payments •2.)    Failed to prove they met the requirements for income and assets. There were 295,000 homeowners given permanent loan modifications in April -- an increase of 30% from March.   LOCAL: Things in O'Fallon continue to show signs o...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
Yesterday, was such a perfect day and a great Sunday afternoon to take a walk and enjoy life. The sky was as blue as it could be, with a few puffy white clouds a nice breeze and a temperature of around 80 with a low humidity. As I walked I was memorizing a bible verse. Dear friends, now we are God's children. What we will be isn't completely clear yet. We do know that when Christ appears we will be like him because we will see him as he is. So all people who have this confience in Christ keep themselves pure, as Christ is pure. 1 John 3:2-3. There was a family enjoying the day and thier children, flying a some kites. We have been blessed with so much to be thankful for, and then the verse came to mind Luke 12:48 From everyone who has been given much, much will be demanded; and from the ...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
O'Fallon Homes There are 249 Re-Sale homes on the market in O'Fallon, IL at an average listing price of $228,163 Status - K TOT LP: $2,415,950 HI: $475,900 LO: $62,650 MEDIAN: $194,450 AVG: $241,595 AVG DM/CDM: 181/223   Property Type - S TOT LP: $56,812,480 HI: $949,900 LO: $14,500 MEDIAN: $199,900 AVG: $228,163 AVG DM/CDM: 103/131   Grand Total: TOT LP: $56,812,480 HI: $949,900 LO: $14,500 MEDIAN: $199,900 AVG: $228,163 AVG DM/CDM: 103/131   Displaying matches 1 through 249 of 249 and 28 New Construction Homes for Sale for an average list price of $226,902 Status - A TOT LP: $6,353,253 HI: $349,900 LO: $152,500 MEDIAN: $208,008 AVG: $226,902 AVG DM/CDM: 247/1010   Property Type - N TOT LP: $6,353,253 HI: $349,900 LO: $152,500 MEDIAN: $208,008 AVG: $226,902 AVG DM/CDM: 247/1010   Grand...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
I took a walk today at St. Ellens Park in O'Fallon, IL. It was a hot day.Our sign says 93 deqrees. St. Ellens has a pavillion, and two asphalted walking trails. Today, I just walked the upper trail, which takes you up the hill and around. The lower trail is flat, and takes you past the lake, but is a little longer way around, it also takes you along the tree lines. The nice thing about real estate is getting out of the office, taking a walk and clearing ones head.  
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
The tax credit has officially expired and the numbers are pointing to it being a huge success.  Nationwide data is not in yet for April however in March home sales were up 21% over the same period last year according to The National Association of Realtors (NAR) Pending Home Sales Index.  First time home buyers made up 44% of home sales in March across the nation.   The Pending Home Sales Index reflects signed contracts and not actual closings but is a pretty good indicator of things ahead. The true picture of what effect the tax credit had on the housing market will continue to form over the next few months as any home under contract will need to close by the end of June.  This points to a very healthy next 7 weeks for home closings.  That is the good news.  Economist with NAR expect s...
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By Paul Walker, Scott AFB IL Area Realtor
(Equity Fifty Five Realty, LLC)
O'Fallon IL Housing Market Report01/01/2010 thru 04/28/2010   First Quarter of 2010 # of Sold Homes          Total SP                       HI                    Low     Avg DM/CDM AVG            114                  $20,867,626                $744,900         $7000              140/155           $183,049 VS. First Quarter of 2009   # of Sold Homes          Total SP                       HI                    Low     Avg DM/CDM AVG             97                    $19,043,490                $485,000         $17,500           145/171           $196,325   TOTAL # OF SALE PENDING HOMES AS OF 04/28/2010 # Of Sale Pendings       Total LP                       HI                    Low     Avg DM/CDM AVG      95                     $19,139,217               $459,900          $59,200         ...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
Welcome to Hopkinton! Congratulations...you ran You made it. All those cold mornings in the dark, the rain, snow and wind, you ran.  While others slept or hit snooze you ran.  You ran when you didn't want to, you ran when you felt terrible...you ran.  20 miles (or more) time that could be spent doing other things, you found a way. 4am is a tough wakeup call but you did it... and you ran.  When others said "26 miles?  I could never do that" you smiled and...ran.  Injuries, aches and pains that sideline most people... you ran.   You ran...reaching for something, seeking...today.  This is your moment and you are in great company.  So for all those times you did not hit snooze...for all the discipline, dedication, inspiration and passion you have shown, CONGRATULATIONS and GOOD LUCK!  Enjoy...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
The Holdens | RE/MAX Preferred | 618-531-4887 1068 Catalpa, O'fallon, IL Fantastic Park-Like Backyard! 3BR/1+1BA Single Family House offered at $189,900 Year Built 1995 Sq Footage 1,850 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION READY NOW! VAULTED GREATROOM WITH FIREPLACE, MOST NEWER CARPET, BUILT-IN SHELVING/COMPUTER STATION IN BEDROOM #3, THREE SEASON SUNROOM NOT COUNTED IN SQUARE FOOTAGE. PRIVATE, LANDSCAPED REAR YARD WITH 475 SQUARE FOOT DECK WITH BUILT IN SEATS & LIGHTING. SOLAR TUBES IN KITCHEN AND HALLWAY FOR ADDITIONAL NATURAL LIGHT. SECURITY SYSTEM, AMPLE STORAGE. DON'T MISS THIS EXCEPTIONAL HOME. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
Do you realize how easy it is to save water in your home without sacrificing the performance or design of your plumbing fixtures? A simple way to identify high performance, water conserving fixtures is with the WaterSense label. Products that have achieved this label will be at least 20% more efficient than conventional models.   Similar to the EnergyStar program, WaterSense is sponsored by the EPA to protect the future of our water supply and promote water efficiency. WaterSense qualified fixtures must be tested to verify that they not only meet the required flow rate, but also that they perform as well or better than conventional models. So, why should we conserve water to begin with? St. Louis is located between two great rivers, and water in our area is a relatively inexpensive util...
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By David Holden, Broker/Owner RE/MAX Preferred
(RE/MAX Preferred ABR, CDPE,GREEN,GRI,SFR)
  So far in 2010O'Fallon is averaging 20 homes a month closed.  Numbers are fairly consistent with January seeing 20 homes close, February was at 18 and March was at 22. This shows a 7 home increase over the first quarter of 2009.       Additionally average sales price is on the rise over 2009.  Average price for homes closed in O'Fallon for 2010 was $178,010 while 2009 was $176,819.  Not a huge jump but forward progress.       Price range continues to be dominated by the below $300,000 group.          Of the 60 homes closed in 2010 93% closed below $300,000       Next month will give us the first "true" picture of the market as the tax credit is set to expire April 30th.  Currently there are 72 homes under contract and 11 closed already (thru April 12th, 2010) in O'Fallon IL.  A large ...
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