In Champaign County, sales of homes dipped in May this year compared with the same time last year. In May this year, 271 homes were sold, a decline of 3.9% from 282 last May 2016.
“I think they’re right around where they need to be,” said CCAR President Jim Waller. “Last year was a good year, and we’re not that far down from that.”
“We’re still lacking some inventory,” he said. “We’d love to see some more listings. There’s a lot of buyers, and they’re not all able to find what they want.”
Of the homes sold this May, 124 were in Champaign, 60 in Urbana, 23 in Mahomet and 14 in Savoy. Homes stayed listed for 61 days though as compared to 69 days last year.
The median price of homes currently listed is $155,00 in May, a 5.8% increase from $146,500 in May 2016.
“Low mortgage rates are still triggering more buyer demand in this market but some buyers are finding it taking a bit longer to find the right property that suits their prerequisites. The number of new listings and inventory of homes for sale continue to decrease in the Champaign market area,” said Jim Waller, president of the Champaign County Association of REALTORS®. “REALTORS report inventory sales and strong buyer demand is leading to more multiple offer situations in this hot spring/summer selling market and buyers have to proceed quickly on their offer if they find the home they wish to purchase.”
Sellers should note that buyers are eager to purchase and are searching the market right now. In fact, Waller expounds that Champaign County is a still a viable place to reside despite the dip in sales.
“It’s economically stronger than most of the state,” he said. “And we have some companies in town that are hiring.”
One good way to see your way around Champaign Urbana and experience the neighborhoods is to visit some real estate open houses. They are free and they give you a way to get some ideas of what is available in the Champaign County real estate scene. Walking through homes for sale in Champaign Urbana is also a way to get some remodeling and decorating ideas for your own home.
You can get a listing of real estate open houses this weekend by looking at the News Gazette website or the Sunday print paper.
A functional and beautiful kitchen, flowing floor plan, plenty of storage, and spacious master bathroom will help win buyers’ hearts.
However, often before they see those areas, they see your landscape. It’s the curb appeal theory that I’m talking about. Some buyers will decide based on the look of the outside of your home whether they’ll even bother to come inside.
If your front yard is cluttered, your exterior paint is chipped, driveway cracked, you’ll find that the for sale sign in your yard won’t attract as many buyers as it could if you spent some time to clean up and create curb appeal.
Fortunately, you don’t have to hire a landscape company to come and renovate the entire area. There are things that you can do that are fairly simple and will attract buyers.
Pull out the dead plants and debris. Start by removing dead plants, shrubs, and debris. Doing this step will create space in your yard and allow you to find a few potted plants to fill in the empty space to bring some color into your yard.
If you get a lot of fallen leaves, make sure you have someone rake and sweep up regularly. Remember your home is on the market every day, not just when it’s being held open. So, keep it up daily. Just like when you go out to eat, you like to dine in pretty restaurants that are clean, buyers want to see your house in its best condition and that starts at the street.
Treat your lawn to a fresh coat of paint. It might sound odd but you can, indeed, paint your lawn. Large patches of brown lawn can lower the value of your home or turn a buyer off completely. It might not be practical to completely remove your lawn. So, you might try hiring a company to spray paint your lawn. Companies that do this can match the color of your lawn so that it looks natural.
Some cities have used this method to clean up lawns on foreclosed homes. Painting lawns has been used on commercial properties for decades. The paint is typically made from a non-toxic vegetable oil so it’s not harmful to people and pets.
Lawn paint is similar to dying your hair. It’s a semi-permanent color that stays on the grass and won’t wash off but it will fade over time, usually about three months.
Fix broken windows and dents in the garage door. Take a walk around the exterior of your home and note which areas need repairs. If you have paint chipped areas get them fixed. It’s likely that the cost won’t be that much and yet the payoff of repairing these items will help improve your home’s overall value.
Add a splash of color. I saw a home the other day that had a yellow front door and a matching yellow umbrella in the front yard. Frankly, I don’t remember much else about the landscape except that I thought the home was charming. The bright yellow door stood out and the umbrella made it seem quaint. Nothing else about the landscape was that spectacular, but adding some eye-catching color made the home shine.
The time and money you put into cleaning up your front yard will help attract buyers and keep them from bypassing your home.
This vintage five bdr Georgian colonial has been restored and beautifully renovated. The modern amenities in the remodeled kitchen and baths are lovely and there are improvements throughout the home. The large foyer opens into the elegant and comfortable living room. The dining room, with coffered ceiling, leads to the bright and airy modern kitchen. A private wood paneled office and sunroom complete the first floor. Up the grand front staircase are four generously sized bedrooms and three full baths. Continue up the back stairs to the third floor with fifth bedroom, full bath, mini-kitchen and family room. There is a second lot with a patio for entertaining…this is a lovely home.
Real estate open houses are open and free to lookers–people looking for houses for sale in Champaign Urbana–and there is a great one this Sunday 2-4. Most open houses are at this time most weekends. A good guide to all real estate open houses in the CU area is in the News Gazette.