As we go into the fall season you may want to know what the housing market has done this spring and summer in Earlville, Illinois. There have been 10 homes enter into contract since March. These numbers have been calculated from the information available through the MLS of Northern Illinois. Since Earlville is a cross market these numbers may not be complete. There are two other MLSs that serve the Earlville community. The Illini Valley board and the Lee/Dekalb county boards may also have information.
As for the numbers from the MLSNI $1.84 million doolars of real estate have closed. The lowest priced home was $124,900 and the most expensive home was $415,000. The average price of a home was $183,500. There were 8 homes that sold for under $200,000 which makes Earlville an excellent value for affordability in the Chicago metro area and throughout the U.S.
If you have a feeling of despair and filing for backruptcy looks like the only way out from under the endless calls from creditors and collection companies. Take a minute and call your realtor. Or better yet call a CRS realtor. Why, you ask? The DRS designation is earned by attending a series of two day courses. They are intensed and cover a single or closely related topic. The CRS 204 class is a class for realtors to learn about wealthbuilding. Ok you ask why would I be interested in making realtors wealthy when I am going down the tubes and fast.
Well the answer is simpler than you think. The CRS course lays the ground work for working with banks and short sales. This is incidental and not intended to play out working with foreclosures. In the course work realtors work with banks and loss mitigation departments of banks and lending institutions. The distressed home owner can possibly salvage their credit from this knowledge. At the very least the CRS designee will be able to help you set an action plan to hold off the wolves huffing and puffing at your front door. They could possibly save your home from foreclosure and do a short sale which is far better than a foreeclosure on your credit record. There may even be some banks who will not even ding your credit if you are not too upside down.
Remmeber easch situation is different and the banks want to loan money not be landlords. Call your realtor today and have them discusss your options. It will undoubtedly be worth your time and investment.
Montgomery continues to be a hotbed of activity as Illinois' 7th fastest growing community. The single family home market is on pace to have another very good year. Montgomery has seen 234 homes close from January 1 til August 13. The range in prices has been a low of $112,000 to a high of $360,000. The most popular home is a 3 bedroom with over 132 of the sold homes matching this category. The average price of a 3 bedroom home is $193,402 which is 98% of asking price of $198,623.
The attached or townhome and duplex market has seen 74 homes close from January 1 til today. The most popular model is a two bedroom with an average sale price of $168,320 or 98% of the $171844 asking price.
The current market has 272 single family homes and 72 attached condo, townhome, or duplexes. The least expensive attached home is a duplex listed at $147,500 and the most expensive single family is $475,000.
If you would like more information on Montgomery or the surrounding areas including the numbers broken down by subdivision. You can find more information at our website http://www.RandyLyon.com
Have you ever heard the saying "Today is a good day because I learned something"? Then today must be a good day. The RTA (Regioinal Transportation Authority) is trying to get a tort tax bill pushed through the Illinois legislature.
Taxes are the sacrifice we pay for living in the greatest nation on earth. There are taxes for infrastructure, security, education and the like then there are hidden taxes. The pork programs for certain groups. Here in Illinois we have had, for as many years as I can remember, stamps purchased when a home was bought and sold. This was kind of a nuissance tax when properties sold for 75k. The tax was .75 per $500. The distribution of the tax was .50 for the county and .25 for the state. The 75k home had stamps amounting to $112.50.
So what I learned was that City of Chicago has a home rule tax of $3.75 per $500. The RTA is asking the house and senate in Springfield to pass an additional $1.50 per $500. If it is passed that is $3150 additional in the coffers of the politicos and that much less for the seniors who are selling and already on fixed incomes. The nuissance tax on a $300000 home in Chicago would be $3600. This is no longer a nuissance this is highway (railway) robbery.
In our area Lakewood Springs, Bristol Bay, Churchhill Farms, Gates Creek, Grande Reserve all have HOAs. An HOA is a homeowners association and with associations come assessments or dues. The assessments are designed to cover the entrances and landscaping of the common areas. They may include a community effort to purchase waste disposal and sometimes snow removal. If there is a pool or a clubhouse the HOA will have to pay for the upkeep and maintenance of those facilities.
If you have any questions on HOAs or any other real estae jargon drop me an email and I will get you the answer. You can reach me at mailto:Randy@RandyLyon.com 
Route 34 has been having delays all week as they expand from two lanes to three with a turn lane. This activity is taking place in front of the 3 new strip malls, water park and Ramada Inn between Plano and Sandwich. The Kohls building now has 4 walls and a roof and they parking lot is being prepared.
The Menard's and JC Penny stores in Yorkville may be opening the end of this month. The Super Wal-Mart in Oswego on 34 should also open by the end of the month. The super Wal-Mart located at Orchard and US 30 is progressing smoothly with a fall projected opening. The new bank at Mill and Orchard opened earlier this week. It is a new player for the area and further confirmation that our area continues to attract large numbers of people and businesses.
It is well known around these parts that Sandwich is synonomous with antiques. The small city located 60 miles west of Chicago on Ogden Avenue (route 34) has more than a smattering of antiques shops. The antiquers, as they like to be called come from all over the state and the nation. Once a year the town hosts an antique fair with vendors from all the country setting up boothes and tents in parking lots along route 34. That with our own local shops which vary from between 8-11 attract thousands each year.
If you would like a list of the antiques shops of Sandwich or want the dates of the antique fair drop me a line and I will send along the info.
Kendall county in the month of June had a very respectable month. In the single family category there were 136 homes that closed in June. They sold at 98% of asking price. The average sales price was $289,923. That is considerably above both the state and neighboring areas. The market days stayed about the same with an average of 104 days on the market.
The condo, townhome and duplex market also had some signs of picking up with an average market time of only 76 days. This market also sold at 98% of asking price with an average of $184,833.
If you would like to know what your home is worth contact me
I will be glad to give a comprehensive report on what your home is worth in todays market
The local market in the tri-city area of Sandwich, Somonauk and Lake Holiday remained at a slower pace than our neighbors to the east. We had 17 homes close with an average sales price of $209,821 this was 96% of the asking price and the bright spot, these homes were on the market only 90 days.
There was very little condo and duplex activitiy with only 3 having closed at an average price of $156133 for a total of 138 market days on average.
The mobile home market was light 2 closed and the average market time was 52 days with an average sales price of $70,850.
As ususal if you would like information on your propert feel free to give us a call we will be glad to help
The weather is great and the kids are out of school. The thoughts of swimming pools, beaches and cool drinks are on the minds of many. This is a great time of year, and a great time to spend with the kids who are on summer vacation. All of our activities seem to be focused on the great outdoors and sunshine. So, have fun whether you are cruising in your runabout on the lake or swimming at a facility with professional lifeguards or watching some Little League ball games.
The back yard swimming pool needs to have a lockable pad lock and a 4' minimum fence around it. Please never leave the pool unattended even for a brief moment. When enjoying the pool be sure and remind children not to run on slippery surfaces. They can either slip and fall down or knock someone else down. We want your summer to be filled with joy so, be safe and have a wonderful summer. 
The state of Illinois approved the final location of the Prairie parkway connector between Minooka and I-88 near Kaneville. The state had volleyed back two different locations. The first was to pick up at Morris was abandoned for the more easterly start in Minooka. This was to be expected as this is more in tune with the semi circle routes of the tri-state and the I-355 corridors. This will allow a shorter connection with I-55 as well.
Morris will see an improved and widened IL 47 corridor and will allow for better design of commercial locations along IL 47 and Whitewillow Road. The impact on the new landfill will be a reduction in capacity.
The state sees this route as addressing future congestion and safety two of its primary concerns.
The Plano city council approved the 16900 square foot facility to be located on route 34 and Belli Drive just west of Wal-Mart. The building is a modified new prototype with clerestory windows and a more modern exterior. The store is expected to open in the spring of 2008. The Aldi spokesman said the store will employ 12 people.
Up to $8 million in infrastructure bonds were approved by the city council at the last meeting in May. The annexation agreement between Lakewood Homes and Plano called for the letting of the bonds. No word on how much each homeowner will be required to pay. The previous Lakewood subdivision the assessment was between $1500 and $3000 per year. Let me know if you have any questions concerning SSAs or if you feel they are the right way to pay for streets and sewers.
The USDA has always inspected our beef and pork, they have gone to bat in Washington for farmers nation wide but did you know they also help 1st time homeowners and credit challenged prospective homeowners purchase a new home.
The USDA is now providing home loans with low or non existent recovery fees to home hunters who can be challenged by the high cost of housing today. The program is intended to help those who are tempted to move to the city by the lure of higher paying jobs. This program will allow homebuyers to finance part of the renovation costs that developed and maybe in decline rural neighborhoods face as a problem to remaining viable. The qualifications are more predicated by income as it is by credit scores.
City dwellers do not despair. You can find these homes just outside of the major cities you may live in now. In our area any home that is west of Eldamain Road qualifies. This program will qualify Lakewood Creek, Sharp Homes and Churchhill Farms to all qualify for this program. There is a cap amount and not all of the above builders homes will qualify. The rates are 5.625 for a 30 year loan. You can reach me at 630 -546-8424 for more information or you can request a packet at http://www.RandyLyon.com or you can email me at mailto:Randy@RandyLyon.com
Statistics through May 21,2007. The Yorkville single family home market has remined stable despite the vast number of homes competing for buyers. Homes continue to sell at 97.33% of asking price. This year 86 homes have sold or are pending close. The vast overwhelming majority of those being conventional mortgages. MLSNI reports only three homes that sold by cash and one FHA and none VA. There were three that were financed with seller's assistance and the assistance was deducted to more accurately depict a true sales price. The least expensive home sold for $147,000 and the most expensive sold for $880,000. There are currently 417 homes for sale giving us a market maturation of just under twelve months as compiled by Market Trends.
This is the first time the inventory has dropped below one year since October of '06. These numbers are significant when considering the number of new construction that entered the market towards the end of '06. The housing market is steady and sellers are realizing modest gains from last year. This is very good news as we enter the most active time of the year which is late spring. Good luck and have a great spring. If you would like to contact me for specific sub division information or be added to my mailing list you can sign up at http://www.RandyLyon.com or email me at Randy@RandyLyon.com and I will add you to my neighborhood reports. Be sure and tell me which town and subdivision you would like the information for.