February 2022 Market Update

For the most recent twelve months (02/01/2021-1/31/2022) the MLS reported 2,121 sales with a median sale price of $180,000 and a reported average marketing time of 44 days.   For the prior twelve months (02/01/2020-1/31/2021) the MLS reported 1,945 sales with a median sale price of $172,500 and a reported average marketing time of 83 days.  This shows an increase in the number of sales of 176 homes or 9.0%. The median sale prices saw a 4.3% increase. There are currently 138 homes on the market with an average marketing time of 127 days.  This results in a 0.7-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market.

Buyer Agency and New Construction

The process of building your own home can be difficult and stressful, especially for those who have not done it before. My goal is to employ my knowledge, skills, experience, and contacts to make this is an interesting and rewarding experience for you. Hopefully, when the process is completed, you will feel confident that you made good, informed decisions based upon experienced advice.

How to Get Rich Slowly in Real Estate

I started investing in residential real estate in Champaign over thirty years ago, and I’ve been an owner and manager ever since. Owning and managing rental property is one of the few ways I know that ordinary people can accumulate wealth into the millions of dollars during a 15 or more-year term.  I call this “How to Get Rich Slowly in Real Estate.”

dog on blanket

Rental Pet Policy

We understand that pets can often significantly contribute to an individual or family’s quality of life, and we wish to accommodate tenants with pets wherever possible. However, experience has taught us that the presence of pets in a rental home can sometimes result in thousands worth of damage, most frequently the result of pets urinating on carpeting or hardwood flooring which then must be replaced. With this in mind, we employ the following guidelines in making decisions concerning the acceptability of pets:

Options for Buying and Selling Transitions

Every year, hundreds of families sell their homes and purchase new ones. Nevertheless, the process can sometimes be a little complicated. In what follows, we will discuss some of the important issues which need to be considered.