Peoria, IL Real Estate News

By Katie Arnholt Kim
(The Kim Group ~ Commercial Real Estate Team for Peoria, IL )
Got Income Producing Property? With all the talk about the first time homebuyer tax credit, there is little talk about the adjustments that they are talking about for income producing property.If you use a property for income and then move into it and live there for 2 years and then sell it. You will not be eligible for the gain amount. It will be a fraction with the # of years you own the property and the # of years you have it as an investment.Please check with your tax consultant to confirm how this pertains to your financial situation.  This information is subject to change due to the government's constant attention to tax laws and credits.
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By Katie Arnholt Kim
(The Kim Group ~ Commercial Real Estate Team for Peoria, IL )
Our local association of realtors had a seminar on the new first time homebuyer tax credit.  While I focus on commercial real estate, I attended in order to see if there was any additional information on other new tax laws and there was and that will be a separate post.  Below is the information provided by the Peoria Area Association of Realtors.  Please consult a tax expert prior to taking advantage of the program below to see if it is right for you and that you have all the information for your situation.  The information below is created for the purpose to present to the general group of realtors. So...what did I learn? Definition of First-Time Homebuyer: Buyer who has not owned a principal residence during the three-year period prior to the current purchase date. "Principal residen...
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By Katie Arnholt Kim
(The Kim Group ~ Commercial Real Estate Team for Peoria, IL )
A friend came over today and started chatting about blogging, rss readers, google reader, etc. and was shocked that I was not blogging.  So I joined the mass of blogging individuals.  I am excited to start posting content on here that I have discovered which will hopefully help someone out with their real estate decisions.
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By Adam Merrick
(Adam Merrick Real Estate)
Last night I was able to catch up on the Fannie Mae and Freddie Mac subject.  It seems the Government is stepping up to the plate to give $100 Billion and possible $200 Billion to relieve Freddie Mac and Fannie Mae.  Not to mention they are looking into hiring some new management to supervise and insure this problem never happens again.   What's your thoughts?
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By Adam Merrick
(Adam Merrick Real Estate)
I just wanted to share with all of you that I am A Member of Keller Williams Premier Realty In Peoria, IL.  Keller Williams recently negociated a great deal with Realtor.com for the entire Company.  All the agents only pay a small fee for the enhanced package.  Before our Leadership stepped in for our agents I was paying over $3,000 for this package as an individual agent.  Now I will only pay $350 for the next year.  I felt like sharing this to all agents,  This is just one reason I Love to be a part of Keller Williams.    
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By Brian Rule
(Keller Williams Premier Realty)
If you are looking to buy or sell in the Peoria area, or are just interested in the local real estate market, then take a look at our market report below.  This report is for the city of Peoria and is based off of the current year.  If you are looking to buy or sell and have some questions about the report or would like some more information about how we can help you please call (309) 303-0557 or visit or website at www.TheRuleTeam.com. We can also set you up on our email notification system.  If you want access to all new listings or price changes, at the same time that realtors are notified, then just email us!  Make sure that you include your specific search criteria - foreclosures, # of bedrooms, city, price range, etc:                                                                ...
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By Brian Rule
(Keller Williams Premier Realty)
It's that time of year again!  The Illinois Blues Festival starts this Friday, August 29th down at the Peoria Riverfront Park.  It will be from Friday at 6PM, and then from Saturday from 1PM - 10PM. Tickets are $20 for one day or $30 for a two-day pass!  Stroll the Riverfront, check out the various vendors, enjoy the food featuring BBQ and Cajun delights, And yes, world famous Blues Entertainers. 20 Great Bands on 3 stages! Buy a 2-day pass in advance and get a free 20th anniversary t-shirt and poster.       Click the logo to go to their website and learn more about this wonderful event down on the Peoria Riverfront!!         Enjoy!Brian Rule, RealtorThe Rule Team - Keller Williams Premier Realty309-303-0557www.TheRuleTeam.combrian@TheRuleTeam.com  
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By Brian Rule
(Keller Williams Premier Realty)
If you are looking to buy or sell in the Peoria area, or are just interested in the local real estate market, then take a look at our market report below.  This report is for the city of Peoria and is based off of the current year.  If you are looking to buy or sell and have some questions about the report or would like some more information about how we can help you please call (309) 303-0557 or visit or website at www.TheRuleTeam.com. Class Bedrooms Current Active Avg List Price Avg DOM             RE All 832 $158,995.00 97             RE 0-2 195 $57,739.00 102             RE 3-4 582 $170,297.00 94             RE 5+ 55 $398,398.00 116                                   Class Bedrooms Total Listed Num Sold Pct Sold Avg List Price Sold Avg Sale Price Sold Sale Price/List Price Ratio Avg ...
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By Laurie Covington
Here is a photo of the Entrance to Edgewild, we have had so much snow this year, I actually forgot what it looked like.  Today, the weather is better, blowing sleet with hail.  In spite of this, Edgewild homes are selling!  I listed and sold a home on Regent on a one time showing.  I also just  sold the listing on Wolf Road,it was listed with another agent at RE/MAX Unlimited.  Then I listed a home on Morningside a couple of weeks ago and it has an accepted offer. Yeah!  I have another listing coming up soon, I hope it sells as quickly.  Edgewild Subdivision features high quality custom built homes with mature landscaping.  Many of them have not been updated since they were built in the 1960's and 1970's, so they are great for buyers who want to remodel a home.  It is difficult to find ...
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By Laurie Covington
It is already St. Patrick's Day in the Heart of Illinois, and it was actually snowing yesterday!  I am going to start a Sunday Weather Report for Realtors.  It will be similar to http://www.weather.com/.  The almanac version.  I need to learn how to do the cool pull down menu for Historical Weather.  I am planning on contacting the people at the Guinness World Records to see if they have a category for the most open houses a Realtor in the United States has ever had in a career, I am sure after thirty years of holding one or more almost every Sunday, I would win.  Over the years, I am starting to notice buyers, lookers, neighbors, trends, and weather.  If the weather in Peoria, Illinois is beautiful, and it is the first day of Spring, no one but the neighbors show up.  They just walk ov...
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By Mary Ann Knell
(Coldwell Banker Honig-Bell)
Even with the holiday season upon us, we at The Knell Group are still extremely busy.  We keep hearing the office page, "Mary Ann Knell's office, you have a call on hold 1."  Despite the misconception that most of the area is under, the Peoria Real Estate Market is still moving!  We are working with quite a few Buyers that will be building in the year of 2008, and they are firming up plans this month to be able to have homes started just after the first of the year.  One of our specialties for many years has been assisting Buyers with build-to-suit new construction homes.  Our group at the Peoria Home Office works with many builders throughout the Peoria area and surrounding communities.  Being able to help a Buyer understand the process, and even assisting in plans and choices is a ski...
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By Marilyn Kohn
(REMAX Unlimited)
I just attended the Howard Brinton Star Power Advance in Vail, Colorado with some of the top agents from around the country. While most were concerned about 10% to 25% drops in their marketplaces, the Peoria, Illinois area is holding up just fine! Driven by its three economic engines of Caterpillar Inc., the medical community with its major hospitals and education (Bradley University, ICC and University of Illinois College of Medicine & Nursing), the community is weathering the housing U.S. slow down very well in comparison. Although the Peoria area has not seen the rapid real estate inflation as the major cities on the east and west coasts, it has not seen the downturn either. 
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