We are Now Taking Listings for 2012

Here is my new Listing Flyer just to remind folks that I have done this before.

Often in Quincy and rural Adams County there may not be comparable sales within a few blocks or even a few miles. A house near Payson may be very similar to another that sold in or near some other Adams County town. Likewise, yours may be the only home like it on your street, but there will be a comparable house within a reasonable distance. Even then, the house must be priced "in the market" in order to sell.

This said, lenders may still rely on appraisals that may not be able to fit your house into their rules. That doesn't mean a buyer won't want it at a reasonable price, but it may mean they'll need more cash if the appraisal comes in low. That buyer just takes longer to find.

Houses are so unique here that sometimes you have to think outside the box.

Call me!

Quncy Residential Sale Data - Prices trending UP!

It appears from Quincy MLS stats that residential sales for the past year, 2011 (660 units), have fallen slightly from the preceding year, 2010 (671), a difference of 2%. The good news is that Average Prices have risen 4%, from 120K to 125K, and Median Price (half the sales above and half below this mark) has risen 7% from 98K to 105K. Median price bodes well for sales in the higher end. Residential inventory has FALLEN 11% from 1565 to 1400 units!

(Photo - Seymour home, Payson, circa 1880)

Things look healthier than I thought. My own informal research from the open house at 3125 Rutledge Place indicates that there is plenty of buyer interest. On three consecutive weekends from 1 to 3 PM, I have consistently had over a dozen people through each Sunday. Most are shopping for a home this spring and some have a house to sell first.

3125 Rutledge Place is a move-in ready 3 bed room house in the under $100,000 category.

If you want to buy an investment rental, downsize, or get a bigger place, spring 2012 is looking good.

Call me!

If Bank-Owned Houses were Rentals

If all the bank owned properties could just be turned into rentals, the idea goes, what a wonderful world it would be.

(Photo by Jim Meinbendir: a great Quincy home listed with Rodemich & Sons LLC by a private owner on Rutledge Place that would be perfect for you!)

If you own investment property, go to Google News and look up "REO" plus "rental" and see what you get. One of the recent posts is http://www.housingwire.com/2012/01/11/the-fight-over-bernanke-reo-rental-plan-shows-political-divide. This article says the government doesn't have a clear strategy for real estate. You knew that I think. We must remember, when the elephants dance or make love, the ants take a heck of a beating and they seem to be trying to decide which to do. If they double the number of rental properties available, what happens to rental income in the Southwest?

This won't affect Quincy, Illinois, very much because bank owned properties are rare here, about 1 in 60 homes, more or less. But, if you, like some of my clients, own houses for lease in Las Vegas, Phoenix, etc, you might want to pay close attention.

If the legislators push the idea through, the bloom is probably off the rental investment rose in foreclosure ridden cities like Vegas. Quincy, Illinois, missed the boom, the bust, the crime, the traffic, etc. It is not the land that time forgot, but it is a beautiful, Midwestern University town with housing prices so low that attractive ROI's can be realized. Call me!