Edwardsville and Glen Carbon Real Estate Chat: August 2008

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If you have a question about real estate, or Madison County, you've come to the right place.

Each week we'll take the best questions we receive and post the answers here.  Check back often, content changes and your question might be featured!

Got a question? Click here to "Ask an agent"!

Questions for the week of August 11, 2008 - August 18, 2008

If I use a buyer's agent to purchase my home, does that make the price go up? - Dave, Lebanon

Dave, thanks for your question.  Using a buyer's agent actually makes the price go down.  When you call the agent that has the house listed, that agent is working for the seller.  The seller hired that particular agent to act in his or her best interests throughout the transaction.  Part of the agent's duties to the seller is to net the highest possible price.  When you have a buyer's agent, it levels the playing field.  Now you have someone in your corner, acting in your best interests.  

According to a recent study from the National Association of Realtors, buyers that used an agent of their own choosing paid 91% of the asking price.  Buyers that did not have an agent paid 96%.  That's a savings of $4,000 on a $100,000 purchase.

Is our housing market as bad as the media makes it out to be? - Anna, Edwardsville

Anna, I'm so glad you asked this.  The media recently reported that housing prices dropped over 17% in June.  It's important to remember that this is a national average.  In markets such as Las Vegas, California, Cleveland and Florida this number certainly holds true.  It may even be higher.  It's important to remember that all real estate is truly local.  Here are the numbers on our area for the first half of 2008.

Current Stats compared to July 2007 last year

Average List Price - 137,268 , down 1%
Average Sales Price - $131,303, down 3%
Average Days on the Market - 130, up 9%

According to the Southwestern Illinois Regional MLS, the average sale price on a home in our region fell by just three percent between July 2007 and July 2008. The average number of days a home stayed on the market rose from 119 in 2007 to 130 in 2008 and the list-to-sell ratio is at 96 percent versus 97 percent in 2007.

All in all, what these market statistics show is that we have not experienced the down turn in real estate prices like most of the country.  The average sales price in our area is only down 3%, compared to 20% or more on the east and west coasts.

Don't let the national news stories lead you astray.  Real estate is very localized, and our market is not crashing down around us.

908 Indiana - Collinsville, IL

Offered at $137,500

By Just Ducky Homes
&
Coldwell Banker Brown Realtors

Kristina - 618-917-0775
Nancy - 618-791-8007

Bright and clean describes this charming three bedroom split-level. The neighborhood is set back from the hustle and bustle of the main roads.

This home is surrounded by mature trees and offers a nice relaxing atmosphere.

The foyer entry leads to an amazing family room and half bath in the lower level, or you can head upstairs and be greeted by an open and airy kitchen, dining area, and cozy living space with a woodburning stove.

Three bedrooms and a full bath also await you upstairs. The master bedroom is large enough to fit a king-sized bed comfortably.

A patio is featured in the back yard of the house, that is easily accessed through the dining room. This is a great space for outdoor entertaining and summer BBQ's.

Conveniently located to everything Collinsville has to offer, including highway access, shopping, dining and more.

Call Nancy Milton today for your own private tour. Just dial 618-791-8007 or send an e-mail to
indiana@justduckyhomes.com

For more pictures or information, please visit http://www.justduckyhomes.com

We're in the middle of summer in the St. Louis area.  The season is notorious for temperatures in the high 90s - along with humidity and dew points to match.

So far this year we've been pretty lucky.  We just now have been hitting a few miniature heat waves.  With another round of intense heat looming for Sunday, Monday and Tuesday, now is the time to remember your pets.

If at all possible, the best thing to do is to bring your pets inside. 

If you can't bring your pet inside, please follow some of the safety tips outlined below.

First, remember that pets are unable to regulate their body temperatures like humans can.  Animals left outside in extreme heat can suffer burned paws, heat stroke, sunburn and in the most severe cases death.

Make sure that your pet has plenty of water and shade.  Remember to put the water in a stable container so it doesn't spill.  Refill your pets water often, as it will get very hot quickly.

NEVER leave your pet in a vehicle.  I can not stress this enough.  The temperature inside a vehicle soars in just a minutes.  Try sitting in a hot car with no ventilation yourself and see how long you can stand it.  Don't ask your pet to do something that you wouldn't even do yourself.

I know that these tips are very much common sense, but everyone needs a reminder now and then.  Just remember to water your pet, shade your pet, and check on your pet often.  If at all possible, the best thing you can do for you and your pet is to bring them inside until the weather cools.