Stimulus money headed this way! The Metro East will be receiving more money from the American Recovery and Reinvestment Act.  The bulk of this new money will be used for water control and flood prevention.  This leads us to what O'Fallon is considering regarding drainage improvements for storm water.  Under the proposed plan residents will pay a flat fee bases on the size of the area they occupy. Not  a bad idea at about $4.00 a month.  The other side of this is that the retailers (auto dealers, box stores) could be hit very hard as they cover substantially more ground than your average home in O'Fallon.  That said something clearly needs to be done.  For a city as progressive as O'Fallon, to have areas of town without any sort of storm drainage (curbs, gutters) is unacceptable.  We sh... 04/30/2009

Foreclosure Help in IL Last week, IL Governor Quinn signed a bill providing much needed assistance for homeowners facing foreclosure. This bill, Public Act 95-1047 requires lenders to allow a grace period (up to 90 days) to homeowners who are in arrears. Furthermore, homeowners will have a chance to work with any Housing and Urban Development (HUD) approved housing counselors to work out a solution to their situation. Under this act, lenders are required to mail a notice to the troubled homeowner who in turn will seek out a counselor. They have 30 days to find a workable plan to be agreed upon by both the lender and the homeowner. No legal action will be taken against the homeowner during this period. The lender is not forced to accept the plan, but at least they will have to talk to a ... 04/26/2009

In March the guidelines were released that explained in detail what President Obama's initiative means to folks who need the assistance.   This program is designed to help homeowners stay in their home through refinancing or loan modifications as opposed to being forced into a short sale situation or worse...foreclosure.   How to qualify: You need to owe between 80%-105% of your mortgage. Your loan must be backed by Freddie Mac or Fannie Mae, many people have no idea.  If you don't you can 1-800-7FANNIE or 1-800-FREDDIE to find out. You must have a conforming loan.  This can mean different things around the country but around here it means a loan under  $417,000 for full details visit www.makinghomeaffordable.gov   Email us for a list of approved local lenders to help get you rolling.  ... 04/16/2009

Got your attention? Much has been written and discussed about this issue. For that reason I shall keep this short and sweet. As most of you know property/Real Estate taxes in O'Fallon IL (actually all of  St. Clair County IL) are a bit convoluted.  We constantly get email and phone calls with questions requesting assistance in appealing property taxes.  So let's take a look first at why/if you might have a legitimate appeal. Below are the two most common issues we have been seeing. •1.)    Is the assessor's value higher than the actual market value of your home?  Or, does the county think your home is worth more than you could sell it for?  If you don't know just ask here. •2.)    Is the assessed value higher than those of similar homes in the neighborhood or area?  Or, is your neighbor... 04/06/2009

First quarter Real Estate Market Conditions Update for O'Fallon IL 2009.   50 homes closed in the first quarter of 2009 in O'Fallon IL. Of these 41 were pre-owned or re-sale homes and 9 of them were new construction. Re-sale (41) homes averaged a $159,468 sales price and were on the market an average of 122 days. New Construction (9) homes had an average sales price of $239,412 and were on the market an average of 153 days. A look back over the last 4 years paints the picture:     The good news: There is a fantastic inventory (266) of homes in all price ranges.  Interest rates are at historic lows, and home prices are very competitive.  Home loan applications are up and the prime months are right around the corner.                    04/01/2009

So after a few weeks of driving by my curiosity got the better of me. What is this giant wooden horse and who is the guy on the ladder with a chainsaw? After driving by for days my curiosity got the better of me and I stopped. It seems Art is making a return to downtown O’Fallon IL ! David Perez is an artist (among other things) who has recently moved back here from Mississippi. His work is truly amazing and his ability to see a piece prior to carving is hard to grasp. As we spoke he pointed to a block of wood and explained what it looked like and what it was going to become. I of course nodded but truth be told it just looked like a block of wood to me. However, I have no doubts about his ability after seeing some finished product.     There is actually a bit of history in his carving ... 03/26/2009

  The new housing numbers are due out shortly so we thought this might be a good time to look at things on a more local level. Jan. 1, 2009-March 17, 2009. These are RE-SALE HOMES ONLY.  So far this year (2009) 38 homes have sold with an average market time of 131 days. The most active price range is $200,000-$249,000 with an average market time of 118 days and 6 homes sold. ________________________________________________________________________________________ For the same time period last year (2008) 52 homes had sold.  The average market time was 129 days.  The most active price range was $180,000-$199,900 with 12 homes selling, market time was 107 days. ***Second place was $200,000-$249,000 with 10 homes sold and 162 days on market. *** This is notable as over 42% of the RE-SALE ho... 03/17/2009

Hello! This update includes both Thronbury Hill and the Manors at Thornbury Hill.  Keep in mind this data was pulled directly from the MLS.  If Fulford sells a home without agent involvement it does not show up in our system. In 2008: 12 Homes closed in Thornbury.  Given the current state of the market this is very good activity. Of the 12: 11 were Re-sale homes with an average sales price of $291,707 and average days on market of 84. 1 was new construction; it sold for $330,886 and was on the market for 371 days. Compared to other areas in O'Fallon IL this is very significant activity. ___________________________________________________________________ For 2009: 2 have closed so far. This shows a very early indication of continued elevated activity.  The 2 that have closed so far have ... 03/05/2009

The Holdens | RE/MAX Preferred | 618-531-4887 131 O'Fallon Troy Road, O'fallon, IL Fantastic Home in O'Fallon IL on 5 private acres. Inground pool, finished basement more... 4BR/5BA Single Family House offered at $599,900 Year Built 1999 Sq Footage 3,800 Bedrooms 4 Bathrooms 5 full, 0 partial Floors 2 Parking 4 Car garage Lot Size 5 acres HOA/Maint $0 per month DESCRIPTION FANTASTIC HOME IN OFALLON IL ON 5 PRIVATE ACRES. DRAMATIC 2 STORY ENTRY & FAMILY ROOM WITH SEE-THRU FIREPLACE INTO HEARTH ROOM. EXPANSIVE WINDOWS. MARVELOUS COVERED PATIO, 16X32 INGROUND POOL, SIDE LOAD 3 CAR PLUS DETACHED 2 CAR GARAGE. STAINED SIX PANEL WOOD DOORS, WET BAR AREA IN GAME ROOM, LARGE STORAGE AREA, CENTRAL VAC, SECURITY SYSTEM,JACK 'N JILL BATH FOR BRs 2 & 3 + 3/4 BATH OFF 4TH BEDRM. 8 MINUTES TO I-64. ... 02/26/2009

      Hello! So... not much change from 30 days ago.  There are now 5 (there were 3) homes for sale in Windermire Ridge.  And nothing has closed (yet) this year.  Of the five homes for sale the average price is $334,820 and the average days on the market is 128.  If you are interested in the February 2009 Market Conditions Report for O'Fallon IL it can be found here.  Interest rates remain low and inventory is high so the time is still right to be shopping for a house.  Additional info on the First Time Home buyer Tax Credit is available by clicking here : Tax Credit.                             Regards. 02/26/2009

Your Market update for February 2009.  Activity is increasing from January!Right now O'Fallon IL has a fantastic selection of homes in a wide variety of price ranges.  As of today (Feb. 25th 2009 there are 240 homes for sale in the 62269 zip code.  Interest rates are still low and the first time home buyer $8,000 tax credit make this an excellent time to be shopping for a new home.______________________________________________   TOTAL HOMES FOR SALE= 240 (slightly up)   Of the 240 on the market:    NEW CONSTRUCTION = 35.  Average price $238,435 (down from $242,404) And average Days on Market is 316.   RESALE HOMES= 205  Average price $224,637 (Up) and Days on Market is 138 (Down)____________________________________________________________________________________   HOMES UNDER CONTRACT =... 02/25/2009

So the weekend is once again upon us.  This Saturday is the Mardi Gras parade.  However, if the idea of standing around, in the cold with 200,000 of your closest friends does not appeal to you, there is another option.  Actually, there are hundreds of options but we promised to discuss the new stimulus plan earlier.  Energy Efficent Housing tax credits and grants Stimulate the economy.  And get a tax credit.  As part of the stimulus package (American Recovery and Reinvestment Act of 2009) there are some perks for becoming more energy efficient.  If you buy a new furnace, windows or insulation you are eligible for a 30% tax credit.  This is a significant jump over the 10% offered last year. If you elect to go to Soulard: Stay warm, stay safe and have fun!     Looking for homes?     02/20/2009

The Stimulus Plan! If you want to buy a house what does it mean?  Well, if you are a first time homebuyer...read on! A First Time Homebuyer is defined as someone who had not owned a home in the last 3 years.  Before anyone gets any bright ideas...this includes your spouse.  So if you are on the Title and not your spouse you DO NOT get the credit.  Had several calls about this already today. If you meet the above requirement, you are eligible for an $8,000 tax credit. Simple, right?  There are some income limits, $75,000 or $150,000 if a joint return.  The big change is that this does not have to be paid back, stay in the home for three years and no re-payment.  Must be purchased between January 1st 2009 and December 1st 2009. AND... It must be your principal residence.   For full detail... 02/17/2009

Dogs & Real Estate... At first glance you might wonder what in the world do dogs have to do with Real Estate?  Why has Dave written this?  Hang in there... Yesterday provided a surprise few hours of free time, so what does one do?  Go to the Soulard Mardi Gras Pet Parade of course!  This is a really unique and interesting event.  If you have never had the opportunity to attend I highly recommend it.  There are also Wiener dog races afterwards but I for the life of me can't really tie that in although it's a RIOT!  Here are some photos:     So...the connection to Real Estate.  Foreclosures affect pets as well as people.  All too often folks vacate a house and leave a dog (or several) chained up outside or just left in the house with an empty bowl to fend for themselves.  This is heartbre... 02/16/2009

A stimulus update! And some foreclosure numbers for O'Fallon IL. First the stimulus: The $15,000 tax credit for homebuyers now looks to be $8,000 (still nothing to sneeze at in my opinion) and may not have to paid back...read on! If the home is purchased between Jan. 1 2009 - Nov. 2009 and you are a first time home-buyer, you will be eligible for a $8,000 tax credit.  If you hold on to the property for at least 36 months it does not have to be paid back.  So all in all a pretty good deal.  This should be finalized next week at which point we will get the final details out to you. Rates are still very good and prices are still low so now is the time!    Foreclosures:  currently there are 16 foreclosures in the 62269 zip code.  Click Here for the details.  Keep in mind this list does not ... 02/13/2009

WINDERMIRE RIDGE, O'FALLON IL YEAR END UPDATE 2008 2008 saw 5 homes close in Windermire Ridge. Prices ranged from $298,000-$370,000. Included in this group is one foreclosure. Total sales volume: $ 1,658,750. Average days on the market: 58 Average sales price: $331,750. _____________________________________ Currently there are 3 homes for sale in the subdivision. List prices range from $329,900-$359,900 and average days on market has jumped to 188. 02/05/2009

    "Stimulus Plan" This term is being tossed around quite a bit as of late with some very large numbers attached to it...to the tune of 820 BILLION.  But the question locally is: How does this affect O'Fallon?  If you drive, walk or run around town you no doubt have a list of things you think need to be addressed.  For example those of us in the "Historic District" of town have been clamoring for storm sewers and curbs. So we are pleased to see it on the list of possibilities. Below is a list of what the city has ready to go should some of this money trickle down our way.  I would be interested in your thoughts on what you think needs to be added to this list. There are other projects needed to be done but these meet the criteria that they must be "shovel ready" in order to receive fun... 02/04/2009

Greetings!Right now O'Fallon has a fantastic selection of homes in a wide variety of price ranges.  As of today (Jan. 31 2009) there are 231 homes for sale in the 62269 zip code.  Interest rates are still low and the first time home buyer $7,500 tax credit make this an excellent time to be shopping for a new home.______________________________________________   TOTAL HOMES FOR SALE= 231   Of the 231 on the market:    NEW CONSTRUCTION = 36.  Average price $242,404 and Days on Market is 313.   RESALE HOMES= 195.  Average price $211,672 and Days on Market is 143.______________________________________________   HOMES UNDER CONTRACT =13 (01/01/2009-01/31/2009)   Of the 13 with a contract:     NEW CONSTRUCTION= 2. Average price $226,450 and Days on Market is 261.   RESALE HOMES= 11. Average p... 02/02/2009

The O'Fallon Illinois real estate market is flooded with listings, and we have been in pretty much a "Buyers Market" since last summer if not a little before. O'Fallon Illinois is located near Scott Air Force Base.There are a total of 306 listed homes on the market including 90 new construction homes. So you can see that there are a lot of homes for buyers to choose from.Status - ATOT LP:$49,103,668HI:$1,195,000LO:$15,000MEDIAN:$209,900AVG:$224,218AVG DM:68Property Type - STOT LP:$49,103,668HI:$1,195,000LO:$15,000MEDIAN:$209,900AVG:$224,218AVG DM:68                                                                216 Re-Sale HomesStatus - ATOT LP:$20,288,942HI:$399,900LO:$65,900MEDIAN:$236,000AVG:$233,206AVG DM:158Property Type - NTOT LP:$20,288,942HI:$399,900LO:$65,900MEDIAN:$236,000AVG:... 06/02/2007

MY O'TOWN HOME - O'FALLON, IL O'Fallon, IL has seen tremendous growth since we moved here 16 years ago.  The population back then was 16,000 and it's 25,000 today.  It's been called the fastest growing city this side of the Mississippi River.         What drives the economic growth of this fair city?  It could be its proximity to Scott Air Force Base, the largest employer in St. Clair County, and because O'Fallon has top notch school districts that appeal to many families.  The presence of Scott AFB and military relocation has helped keep home resale values high.  I-64 provides easy access in and out of the city and makes it very viable for new businesses that now line the freeway.  The same Interstate means St. Louis is a mere 20 minutes away. It's a city where there are vast fields of... 05/20/2007