Edwardsville and Glen Carbon Real Estate Chat

First-time buyers get all of the attention, don't they?  They get tax credits, have special programs designed especially for them and they have agents market directly to them.  That doesn't seem fair, does it?

Well, first-time sellers rejoice!  You are no longer being ignored.  I get it.  First-time buyers eventually turn into first-time sellers.  What happens when you're ready to move-up or you outgrow your current digs? 

An agent was there to help you through the buying process, but what now?  Do you stick a For Sale By Owner sign in the yard?  Do you call the agent that helped you buy the house?  Maybe you'll check out Zillow to get an idea about what your house is worth.  Should you talk to more than one agent?  How on Earth do you manage the details in getting your house sold while at the same time finding a new one?

It's confusing, overwhelming and frustrating, isn't it?  That's why hiring an agent is your first step. But not just any agent... an agent that understands the specific needs of first-time sellers. 

Agents that have experience with your particular situation are an invaluable ally to have on your side.  When helping first-time sellers, I realize that you have lots of questions and need me to devote more of my time to you.  I won't just list your house, stick a sign in the yard and never speak to you again.  I'll return your e-mails, texts and calls.  I love connecting with you on social networking sites like Twitter and Facebook.  And when your house goes under contract, I'll be there with you step by step through financing, inspections, appraisals and closing.

By the way, I didn't mention that you might be eligible for the expanded home buyers tax credit.  You could qualify for a $6,500 tax credit to purchase your next home.  Cool, huh?  Want details?  Text, e-mail or call me anytime.

Ken Cook, a lender in Georgia explains the FHA 203K loan in a way that makes sense.  Thanks so much for allowing me to share this information on my blog, Ken!

As we zoom toward the end of the year, my Goshen Realty Group partner, Kristina, and I have been looking over our closed transactions to spot our business patterns and figure out how to build on successes for even better years in 2010 and 2011.

We want to know who are buyers are and where our next buyers are coming from.

In recent months, we've seen a surge of buyers in our territory -- St. Louis' southwestern Illinois suburbs -- coming from a specific group: young, single men buying their first homes.

These savvy buyers with good jobs were under 30 years of age and all of them understood that -- given their incomes -- throwing money away on monthly rent for any longer than necessary was foolish. They have made up 25 percent of our buyer business.

Married couples have made up 33 percent of our buyer business. They've been a mix of first-time and move-up buyers, with first-timers taking the lead. Another 33 percent of our buyer business has come from non-traditional households. Those transactions included parents buying homes for their college students attending Southern Illinois University at Edwardsville, unmarried couples sharing a household, and adult children buying homes for their aging parents' use.

Surprising us was the fact that only eight percent of our business has come from single women. (Come on, ladies! We'll talk to you about this issue in a separate post. We might have to channel Beyonce's "Single Ladies" tune to get you revved up about home ownership!) The numbers of single women buyers are much higher nationally.

The National Association of REALTORS® (NAR) surveys home buyers every year to help us thnderstand the big picture in American homebuying. The latest report was released this week.

According to NAR, "One of the most important changes in this year's survey was shaped by record home affordability and the availability of the first-time home buyer tax credit-the share of first-time buyers."

In 2009, NAR's survey found that 47 percent of all home purchases between July 2008 and June 2009 were first timers. (Compare that to 40-41 percent in an average prior year). This is the biggest number of first-time buyers in more than 18 years.

Nationally, the figures continued -- mostly -- to mirror our local findings. NAR says the typical first-time home buyer was 30 years old with a median income just over $60,000. NAR also found that repeat buyers were 48 years old with a median income of just over $88,000.

Here's where our Goshen Realty Group figures veered off from NAR. The NAR survey found that 25 percent of first-time buyers are single females, and 12 percent are single males. Married couples were 49 percent of first-timers. The rest of the national pie is made up of buyers in a variety of living and joint ownership arrangements.

Two-thirds of first-time buyers told NAR that they purchased simply because of their desire to own a home of their own. Repeat buyers said they purchased their home for a large variety of reasons, including a job-related relocation or a personal move, desire for bigger home, or a change in their family needs.

As if the first round of tax credits for first time buyers wasn't confusing enough, now the credit has been expanded to include some move-up buyers.  (Also, great news for our military currently serving overseas - you have a longer time frame to use the tax credit).

If you have questions about how the tax credit works, check out this video from RE/MAX.  Then, give me a call or shoot me an e-mail to talk about your next place.

OK, I apologize to Wm. Shakespeare for twisting his lovely words -- "What's in a name? That which we call a rose by another other name would smell as sweet." from Romeo and Juliet for the headline on this post, but I couldn't resist a little literary fun this morning.

What did Shakespeare mean?  Scholars will tell you that he may have been poking fun at the rival Rose Theatre, but his point in the context of the play was that it mattered what something IS, not what it is CALLED.

So what is a room?  Often my sellers will ask me why one portion of their home "counts" as living space on the MLS listing for their property and another does not. After all, they live in the whole house, don't they?

The vagueries of room count notwithstanding, there is an accepted method to the madness. A room, according to the ANSI (American National Standards Institute) standard, is a finished and enclosed space that is suitable for year-round use. It will have walls, floors and a ceiling similar to the rest of the house.

These common rooms ARE included in a home's room count:

• Living Room
• Dining Room
• Great Room
• Media Room
• Kitchen
• Bedroom
• Sitting Room
• Breakfast Nook (if separate from the kitchen)
• Game Room
• Sun Room (if it is heated)
• Finished Basement Rooms

These common rooms ARE NOT included in a home's room count:

• Bathroom
• Laundry Room
• Mud Room
• Utility Room
• Foyers
• Hallways
• Unfinished Basement Rooms
• Unheated Sun Rooms
• Garage
• Walk-in Closets (even if it is bigger than my college apartment)
  

This is not meant to be an exhaustive list of the possible rooms in any home. I've been in Victorian homes that have Card Rooms and Parlors and in new homes that have Craft Rooms and other redefined and renamed living spaces.

Realtor readers: I'd love it if you would weigh in on whether your association uses a different standard or has interesting issues with room counts.

And now, "a thousand time, good night!"

I find a lot of our buyers are excited about seeing an older refrigerator in a house they're considering purchasing. Their first reaction is, "Let's get the appliance we want for the kitchen after we move in and move this bad boy to the garage/laundry room/wherever as the "Beer Fridge!" 

Maybe it's because we're from the metro area where "The King of Beers" has been brewed since the 1800s, but the feeling about a secondary refrigerator is almost universal here in St. Louis' Illinois suburbs. Even people who don't, uh, "indulge," see the appeal of an ugly duckling fridge in an unseen part of the house for party trays, soda, the Thanksgiving turkey, etc.

But, from time to time there is a refrigeration unit so unsavory or unneeded in a newly acquired home that there is no place of refuge, no corner dark enough to hide it from sight. That's when you're faced with a new question, "What do I do with this old fridge?"

Believe it or not, Ameren, the Illinois utility company, has a solution. Their Act On Energy Refrigerator and Freezer Recycling Program will haul it away for FREE and will pay you $35 for getting rid of it. This works for old freezers too.

Who doesn't want something back from Ameren? Call 866-899-9088 or click on the Act On Energy web site to schedule your free pick up.

Why are they doing this? It seems for every old appliance you turn off in your household, Ameren figures you can save up to $100 in annual energy costs. This could be the gift that keeps on giving.

What are the rules?  You have to be an Ameren Illinois Utilities residential electric customer and the refrigerator or freezer must be in working (cooling) condition. The unit has to have been made before 1993 and be from 10 to 27 cubic feet in size.

So if that Harvest Gold, Avocado or Coppertone appliance has no place in your new stainless-steel kitchen, call Ameren and turn a bad fridge into cold cash.

Yes, I know little flash-frozen ice cream pellets might not be everyone's idea of a gourmet food experience, but I found the idea of a free-standing Dippin' Dots store that just recently opened in Edwardsville too interesting to resist.

Dippin' Dots is typically found served from a cart at stadium events. Here in the St. Louis region, the Edward Jones Dome, Busch Stadium and Scottrade Center (or as my husband -- who has refused to follow its many name changes -- calls it, "that place they play hockey") all have a DD vendor cart. It also is ubiquitous at attractions such as Six Flags theme parks, zoos (including our own Saint Louis Zoo) and any place you see families gathered for a day of fun.

For those of you who haven't experienced a Dippin' Dot, here's a litle background on the company and its claim to fame:

Back in 1988, a microbiologist named Curt Jones used his scientific knowhow to create these teensy, round bits of ice cream, sherbet and yogurt. (We have to assume it was a slow day at the lab.)

Jones' "high-tech, cryogenic freezing process" takes place at the company's Paducah, KY facilities not too many hours from our home in Southweestern Illinois. (He actually started the company in his parents' Grand Chain, Illinois garage in Pulaski County.)

The ice cream flavors are flash frozen with liquid nitrogen, then packaged and shipped to retail locations.

Dippin' Dots is a privately owned company, so -- sadly -- there is no opportunity for dot lovers to buy stock in the operation.That's probably for the best, as the company can grow while keeping quality and customers in mind, not just stockholders.

Which leads us back to the franchised DD store that opened recently in Edwardsville. In addition to getting a clear, plastic cup filled with dots in the traditional manner, customers can enjoy the following types of treats: dot cakes, dotwiches (ice cream sandwiches), milkshakes, floats, sundaes and a big variety of toppings. You also can get Dots 'n Cream which is traditional ice cream blended with DD.

Dot flavors vary by location and by visit, but some of the favorites include Banana Split, Chocolate, Strawberry, Vanilla, Cookies n Cream, Birthday Cake, Bubble Gum, Cotton Candy, Rainbow Ice, Strawberry Cheesecake, Orange Sherbet, S'mores and Peanut Butter Chip. Fudge and Vanilla also come in no-sugar-added versions. If someone in your family has allergy issues, just ask the staff. They have information on the treats' contents. Note that DD is also Kosher-Dairy.

I had a cup of S'mores -- chocolate with graham cracker pieces and marshmallows -- and my Goshen Realty Group partner, Kristina, had Strawberry Cheesecake yogurt. As we finished our treats, we watched a group of moms and kids who had just gotten out of school come in and press their faces against the glass cases. Most of the younger customers ended up with Bubble Gum or Cotton Candy. A couple dove into Birthday Cake. The kids seemed to enjoy eating blue food.

What does it taste like? Your first spoonful of Dippin' Dots is going to present your mouth with a crunchy-yet-smooth texture and a tingly burst of fresh flavor. They do melt as time passes so be sure to actually eat the little beads while you're playing with them in the cup.

Here's a link to a $1 off coupon to try Dippin' Dots for yourself. When you visit the Edwardsville store, tell them the Goshen Gourmet sent you.

PS --With Christmas, Hanukah and other gift-giving holidays approaching, you also might want to consider getting your little gourmet his or her own dot maker. Here's a link to the Dippin' Dots machine available at Toys R Us.

The Edwardsville Dippin' Dots is located in Edwardsville Crossing at 215 Harvard Drive. (That's the new plaza behind Dierberg's.)

As the seat of Madison County, the home of Southern Illinois University at Edwardsville and the site of an acclaimed school district, Edwardsville can give the impression of being out of reach to some home buyers.

Not so! There are a number of affordable homes on the market right now in Edwardsville.

Click here to see a list of homes currently for sale in Edwardsville, Illinois priced at under $100,000.

Click here to see a list of homes for sale in Edwardsville priced between $100,000 and $150,000.

Some homes in the very lowest price ranges in any community may be listed as needing some "TLC," or "tender loving care." That's generally a kindly shorthand for "fixer-upper home." Many will require mostly cosmetic changes and some need more extensive repairs. Only you can decide how much effort you are able to afford -- in both time and cash -- to put into making an ugly ducking home look like a swan.

If one of these homes touches your buying button, we also can discuss a HUD 203K loan with your good, local lender. The 203K will allow you to rehabilitate the property and roll the money you need to restore the home right in to your home loan. Hud provides this extra money -- up to a $35,000 cap -- to help with neighborhood revitalization. Or, if you go outside of Edwardsville just a bit, you may qualify for a Rual Development Loan which allows 100 percent financing.

Don't forget that right now you also have an opportunity to take advantage of the up to $8,000 tax credit for first-time homebuyers if you are in contract on your first home by April 30, 2010. And if you're an existing owner, you may be able to claim a $6,500 tax credit if you make a move. Always ask your tax advisor for information specific to your circumstances.

32 homes sold in Glen Carbon in September and October of '09.  4 of these homes were new construction with an average sales price of $194,317 and average days on the market of 152.  28 resale homes had an average sales price of $187,729 with 142 days on the market.

Address/List Price/Sell Price

7028 AUGUSTA DR $205,000 $203,000

110 BAYHILL BLVD $165,000 $163,000

212 BAYHILL BLVD $170,000 $165,000

107 BAYRIDGE $179,000 $168,000

134 BIRGER $109,900 $108,500

2809 BRISTOL WAY $294,900 $250,000

78 DEPOT DR $157,000 $152,000

6 DUNSTON TR $224,900 $165,000

7027 GABLE $239,900 $235,000

110 GINGER CREEK PKWY 9 $126,900 $123,000

6 GINGER WOOD ESTATES $600,000 $592,500

731 GLEN CROSSING RD $209,900 $179,500

182 HILLCREST DR $159,900 $155,000

14 JENNIFER DR $189,900 $186,000

6 JULIE DR $184,900 $182,500

195 S MAIN ST $99,900 $101,000

100 MARK TRAIL DR $129,000 $125,500

924 MARK TRAIL DR $179,500 $179,500

17 MATTERHORN DR $199,999 $185,000

157 MUNZERT $144,900 $141,500

35 NORSPUR $133,150 $133,150

110 OAK RIDGE ESTATES $199,500 $195,000

9 OAKDALE LAKE $169,900 $168,000

26 W OAKSHIRE DR $243,000 $232,500

51 RED BUD LN $179,900 $177,000

31 SUNSET DR $54,900 $50,000

47 WATERFORD LN $210,000 $200,000

128 WILLOW BEND DR $249,900 $238,000

45 WOLFE CREEK CT $310,000 $290,000

308 ABERDEEN DR $219,900 $209,000

7 CAROLYN $179,900 $176,000

109 WALDEN $409,900 $389,000

As part of our Goshen Realty Group neighborhood updates, here is a list of all Edwardsville homes that sold in September and October of 2009.

85 homes were sold.  The average sales price was $210,856 and the average days on the market was 141.

Address/List Price/Sell Price                        

3003 SUNSET HILLS BLVD $620,000 $592,000

5 FOX HOLLOW $549,900 $525,000

5330 FOX CIRCLE DR $425,900 $400,000

888 MALIBU WAY $475,000 $440,000

2710 HUNTERS RIDGE $279,900 $255,000

124 CHATTANOOGA CT $334,900 $318,500

1806 LINCOLN KNOLLS DR $328,000 $316,000

104 POPLAR CT $314,900 $308,000

3 CHURCHILL CT $244,900 $241,500

7008 STONEY CREEK DR $245,000 $240,000

1398 BRITANY CT $239,900 $229,000

445 EAST LAKE DR $269,900 $275,500

225 BELDEN DR $235,000 $219,500

1404 BRITANY CT $169,900 $181,500

901 CHADERIC CT $259,900 $250,000

7007 MISSIONARY RIDGE CT $257,500 $253,000

2805 FALCON CREST DR $214,900 $205,000

567 EAST LAKE DR $235,000 $180,000

1516 GERBER RD $269,900 $250,000

2714 CABIN CREEK CT $224,000 $217,900

2606 HUNTERS RIDGE $224,900 $210,000

1508 COLES CT $225,000 $205,000

7001 STALLION DR $214,900 $205,000

7007 STONEY CREEK $229,000 $214,000

3461 MANASSAS DR $269,000 $265,500

1312 RANDLE ST $161,900 $159,000

218 CIRCLE $149,900 $146,500

7343 PIN OAK $279,900 $275,000

5017 INDIAN HILLS DR $254,900 $254,900

6820 WHITE OAK CT $175,900 $167,550

883 MALIBU $249,900 $225,000

1161 SAN JUAN $349,900 $338,500

7354 GREEN HEDGE $219,900 $206,500

1923 APPLEGATE $180,000 $169,000

31 TIMBER MEADOW PL $225,000 $210,000

7017 STONEY CREEK DR $209,900 $201,000

843 PRICKETT $199,900 $192,000

501 N BUCHANAN ST $189,900 $182,500

8 NORWOOD CT $209,900 $190,000

74 CHRISTMAS TREE PT $249,900 $230,000

847 SLIPPERY ROCK DR $145,000 $133,000

924 HOLIDAY POINT PKWY $199,900 $190,000

852 NEWPORT BAY DR $254,900 $238,000

6818 STONEY CREEK DR $209,900 $199,000

573 CLOVER DR $164,900 $155,000

139 HOLLYHOCK LN $229,900 $223,500

1284 KEYWEST DR $137,900 $137,500

8 EAGLE CT $229,900 $219,000

1207 LINDENWOOD AVE $149,900 $144,000

837 MADISON $124,900 $123,000

1322 CARRIBEAN DR $139,900 $138,900

106 MAPLE ST $154,900 $142,000

36 SW SHORE DR $234,900 $215,000

719 N BUCHANAN $134,500 $131,500

542 OAK HILL DR $147,900 $145,500

140 E DUNN ST $137,900 $137,500

4843 INDIAN HILLS RD $175,000 $175,000

1540 GRAND AVE $144,500 $140,000

925 TROY RD $109,900 $108,500

612 DEWEY AVE $149,700 $147,500

933 WHIPPOORWILL $190,000 $180,000

320 MONTICELLO PL $182,900 $173,000

1131 NASSAU DR $169,900 $168,500

4620 HORSESHOE LN $96,500 $79,800

512 GUELTIG AVE $130,000 $124,000

7577 JERUSALEM RD $145,000 $127,000

263 COVENTRY PL $164,900 $158,500

445 TAMARACH DR $134,900 $134,900

721 SHERIDAN AVE $124,500 $117,000

823 PRICKETT AVE $67,900 $66,000

739 AMHERST $141,000 $136,000

1415 MADISON $139,000 $134,000

408 N BUCHANAN $127,900 $125,000

5835 OLD POAG RD $119,900 $114,500

529 DEWEY AVE $109,900 $103,900

743 VOGE AVE $24,900 $24,000

634 VOGE $75,000 $60,000

4366 BOHM SCHOOL RD $114,900 $107,500

801 LANCASHIRE $83,900 $75,500

3608 S ARBOR LAKE $655,000 $655,000

3321 GARVEY LN $449,900 $435,000

3344 KARROS CT $479,900 $450,000

7015 ALSTON CT $329,900 $322,400