Real Estate News May 30, 2023

Flip The Script! Be Positive in the Real Estate Market!

 

A Positive Outlook on the Current Real Estate Market

In the dynamic world of real estate, the market can often be a rollercoaster ride, with its highs and lows. As potential buyers and sellers navigate through these fluctuations, it’s crucial to maintain a positive outlook and embrace the opportunities that lie within. In this blog, we will explore the current real estate market, highlighting reasons not to get discouraged and offering valuable insights to help you navigate the exciting terrain of property transactions.

  1. A Resilient Market: Despite occasional fluctuations, the real estate market has proven to be remarkably resilient over time. It has weathered economic downturns, global crises, and various uncertainties, ultimately bouncing back stronger than ever. This resilience provides a solid foundation for optimism, reassuring both buyers and sellers that real estate remains a valuable and sustainable investment.
  2. Favorable Interest Rates: While higher interest rates can seem like a cause for concern, it’s important to remember that they do not necessarily have a negative effect on the real estate market. In fact, higher interest rates often indicate a strengthening economy, which can create a favorable environment for property transactions. It signifies increased demand and confidence in the market, as buyers are willing to borrow at higher rates to secure their dream homes. Additionally, higher interest rates can help stabilize home prices and prevent speculative bubbles, ensuring a more sustainable market in the long run.
  3. Expanding Inventory: While inventory levels are still low in many areas, Realtors play a crucial role in helping buyers find off-market properties. Experienced real estate agents have extensive networks and connections within the industry, allowing them to tap into a hidden market of properties not publicly listed. These off-market properties provide unique opportunities for buyers to find their ideal homes or investment properties. By working closely with a Realtor, buyers can uncover hidden gems and navigate the market more effectively, even in the face of low inventory.
  4. Changing Demographics: Changing demographics are reshaping the real estate landscape, creating fresh opportunities for both buyers and sellers. Millennials, now the largest home-buying generation, are entering the market in larger numbers, seeking starter homes and family-friendly properties. Additionally, as the population ages, there is a growing demand for retirement communities, downsizing options, and age-friendly housing. These shifting demographics present new avenues for investment and diversification in the real estate market, irrespective of inventory levels.
  5. Technological Advancements: The digital age has revolutionized the way we engage with the real estate market. Innovative technologies, such as virtual tours, online listings, and digital marketing platforms, have made property transactions more accessible and efficient. Buyers can now explore and assess properties remotely, and sellers can reach a wider audience with their listings. These advancements have opened up exciting opportunities for both parties and streamlined the buying and selling process, providing additional avenues to find properties beyond traditional channels.

While the real estate market may present its fair share of challenges and uncertainties, maintaining a positive outlook is crucial. By recognizing the market’s resilience, favorable interest rates, the assistance of Realtors in finding off-market properties, changing demographics, and technological advancements, we can embrace the opportunities that lie within. Realtors can help buyers uncover hidden treasures, even in the face of low inventory levels. So, stay positive, stay proactive, and remember, every market presents unique opportunities for those who are ready to seize them!

Contact us for a free consultation! We would love to help you!

 

Real Estate News May 24, 2023

Interest Rates Got Nothing on Peoria: Why Listing Your Home Is a Slam Dunk Right Now!

Hey there, Peoria homeowners and house-hunters! It’s your favorite Realtor, ready to spill the tea on the local real estate scene. Buckle up, because today we’re talking about a topic that gets everyone’s heart racing faster than an episode of your favorite reality show: interest rates. Yeah, I said it. But fear not, my friends, because here in Peoria, those pesky numbers aren’t throwing shade on our fabulous housing market. In fact, they might just be the secret ingredient for a stellar home sale! Let me break it down for you.

First things first, let’s address the elephant in the room: rising interest rates. Sure, they can make even the coolest cucumber break a sweat, but guess what? Peoria’s real estate market is as cool as a cucumber on ice. The local demand for homes is through the roof (pun intended), and buyers are still itching to make their moves. So, don’t let those interest rate headlines scare you away from listing your home—there’s a hot market out there waiting for you!

Here’s the scoop: interest rates may have risen a smidge, but they’re still historically low. We’re talking “you might need a microscope to see the difference” low. So, what does that mean for you as a savvy seller? It means that buyers are still hunting for dream homes, and they’re ready to pounce on any listing that catches their eye. With low inventory levels and high demand, you hold the golden ticket, my friend. It’s time to grab those proverbial bull horns and list your home!

Now, let’s talk about timing. If there’s ever been a perfect moment to strut your stuff and show off your home’s best features, it’s right now. Spring is in full bloom, and so is the real estate market in Peoria. Buyers are coming out of hibernation, and they’re armed with fresh pre-approvals, ready to snag their slice of Peoria paradise. So, let your home shine under the warm spring sun, and let those buyers fall head over heels for it.

But wait, there’s more! Did you know that interest rates can be your secret weapon as a seller? That’s right, folks. When rates rise, it can create a sense of urgency among buyers. They know that the longer they wait, the more they might have to shell out in mortgage payments. So, leverage that sense of urgency and work your magic. Spruce up your curb appeal, declutter like Marie Kondo, and add those finishing touches that make your home irresistible. Buyers will be lining up to make an offer before rates climb any higher!

In conclusion, Peoria real estate is rocking and rolling, regardless of those interest rates that like to hog the headlines. The demand is strong, the timing is perfect, and buyers are hungry for their dream homes. So, don’t let the fear-mongering naysayers get you down. This is your moment to shine, your opportunity to sell, and the perfect time to list your home for sale in our fantastic city.

Remember, Peoria’s real estate market laughs in the face of interest rate fluctuations. It’s time to show the world what you’ve got and watch those offers roll in. Happy listing, Peoria superstars!

Disclaimer: The information provided in this blog post is intended for entertainment purposes only. Consult with a professional Realtor or financial advisor for personalized advice regarding your specific real estate situation.

Uncategorized January 26, 2022

LOVING WHERE YOU LIVE

I decided to make Peoria my home. I wasn’t born here.

Moving at the age of 17 as a freshman in college to attend Bradley University (way back in 1993) was one of the greatest decisions I ever made. Did I think I would make Peoria my home back then? Not at all. Growing up in Louisville, Kentucky, I always thought I would end up in a large city, full of endless places to explore. Life led to many decisions that took me back to Louisville after graduation then back to Peoria. I met who would be my husband, through my best friend, and so many friends who made the decision to make Peoria my home. It was when I moved back to Peoria at the age of 22, that I really saw how amazing a city this was. Living in “The Bradley Bubble”, you are a college student who stays within the confines of walking distance of the campus, grocery, somewhere to eat, and where the bars are… The first time I went out amongst The Bubble, I saw locally owned places and an extended places to explore.

I think about this when we are given the chance to be Tour Guides to new clients as they consider Peoria their new place to call home. We know you can look up anything on the internet. However, what you cannot look up this: if you have never been to our city, you may be told by those who live here what their favorite past times are and what you may find. The love of local is strong and taken very seriously. Working in Relocation, we have met so many people who have similar stories to me. Some move here for a new job that may keep them here for a few years or indefinitely. They are new to town for just a bit until they feel ready to make this home.

I’m 46 years old now and think of myself as a “Transplanted Local” – someone who moved here and made Peoria their home. I feel like I am in good company – between the clients we have helped and friends we have made, there are so many of us who truly love where we live. Our community has doubled in amazing things to see and do making it a great decision for anyone who would like be a part of our beautiful city and call Peoria home.

Fun October 21, 2021

It’s Halloween! Where are the Haunted Houses???

It’s October…if you have not gotten into the Halloween spirit yet, here’s your chance!

There are many different Halloween attractions and haunted houses for every palette – some are family friendly and some are a little scarier than others!

The Infirmary Bartonville Asylum Open every weekend in October 2021 at 7 pm (weather permitting.) https://hauntedinfirmary.org 

Spook Hollow Open the last 3 Fridays and Saturdays in October! http://www.spook-hollow.com/

Spider Hill Open Fridays and Saturdays in October  https://www.threesisterspark.com/spider-hill?utm_source=IllinoisHauntedHouses.com&utm_medium=website&utm_campaign=HauntedHouseMedia

Wildlife Scary Park Thursday October 21st through Sunday October 24th and Thursday October 28th through Saturday October 30th. https://wildlifeprairiepark.org/wildlife-scary-but-safe-park/

Lakeview After Dark Friday, October 22, 2021: 6:30-9:30pm, Saturday, October 23, 2021: 5:30-9:30pm

https://peoriaparks.org/lakeview-park-after-dark/

Have fun and be safe wherever you decide to get your scare on! Make good choices on which candy you eat more of too!

Have a Happy Halloween!

Real Estate News September 10, 2021

Is it Time to Move Up or Make a Lifestyle Change?

We always get questions from clients who ask, “Is this a good time to sell our house? Is it a good time to buy?” Our response – It’s always a good time for both because odds are, there are other people asking the same questions you.

According to THIS….It’s Time Now.

This past year we had many families that we helped whether it was moving up to a larger home or scaling back for more relaxed lifestyle changes. With continued low interest rates and buyer demand, it is the best time to list your home.

These two in particular situations are great examples as to why it is a perfect time for either.

The Awesome Family (names changed to protect the innocent 😉 ….) was one of our first clients many years ago. We helped them find their first apartment. When it was time for them buy a home, they called us. That was in 2011 right after they got married. Fast forward to 2021: They had been married for 10 years, had 3 adorable kiddos, and needed more space. They knew the equity they had in their home and listened to us as we explained what we could sell their home for. The issue was finding the home that checked every box. We looked for weeks during the craziness this spring. Knowing they wanted to stay within the neighborhood their current home was in, we had our sights set on anything that would come up with their criteria. Then, it happened! That perfect home came on market – it felt like the right fit, checked EVERY box – especially when it was one block away from their current home. They moved up for a larger home and more space yet already knew their neighbors!

 

The Dynamic Duo wanted to downsize yet stay within the same area of town and price point of their current home however was looking for something that was maintenance-free on the exterior – no more lawn care or snow removal. Their current home was very unique and would get an offer within days. Finding what they wanted was a struggle because there were not many of these condo-townhome-duplex type properties on the market. If there were, they were gone fast. hey knew exactly what type of property they were looking for, what their budget would need to be with HOA fees, what they were getting back for their home. Another example of knowing the time was right, it felt right for our clients to make that lifestyle change of taking it easy and enjoying a smaller space. They moved up “in time” that they would have to enjoy life a little less hectic.

With both of these clients (and many others), we ask they do the following before making that next step to move up:

Are you outgrowing your current home or is it too big for you and you want to downsize?

Are you preapproved? Do you have a budget?

What’s your home worth based on our Comparable Market Analysis?

Make a Pros and Cons list of reasons you want to move.

Consult your LOCAL Real Estate Professional who would have all the info you need to assist you in making that decision, once you answered the above questions.

Think it’s time? Let us know!

Food August 19, 2021

The Cheesiest Place in Town

You know the cute neighborhood bars you see in movies or TV shows, that are literally right in the middle of a neighborhood? Looks like a house, but it’s a restaurant-bar? There aren’t that many around anymore. However, there’s one in the middle of Peoria on Loucks Ave that not only has it’s regulars, charm, old school signage, friendly bartender, the big bell that is sometimes rung for free drink tokens…..it has a famous staple – CHEESE.

Welcome to Castle’s Patio Inn.

It’s as local as you can get! It had been owned by the same family for years until recently. The new ownership is cranking out those tubs of cheese like nobody’s business. They have a menu for dinner, nightly drink specials (for example Tito Tuesday’s), and weeknight dinner specials: Soul Food Sunday, Meat Loaf Monday, Taco Tuesday…

It has always been a great place to go. Why don’t you stop by and check it out for yourself? Who knows….they may ring the bell for you.

Castle’s Patio Inn

 

Real Estate News August 16, 2021

THE MARKET IS…(FILL IN THE BLANK)

Whether you are a Realtor, consumer, or someone who just loves to keep up with Real Estate trends (watching HGTV does not count), you will notice this market is, well, there’s alot of different words: crazy, busy, slowing down, picking up, ridiculous, weird, mind blowing….. For as long as I have been a Realtor (started before the bubble burst in 2008), I have never experienced a market like this.

This past spring, we saw record numbers of buyers and very little inventory. This summer, it continued however, the amount of multiple offers and ridiculous bidding wars subsided. People were enjoying life, the summer of pool weather and vacations, time with friends and family. We were trying to make up for all that lost time the year before.

So, why is the market still strong and stable? My person opinion….look around. Look at the amount of homes that are slowly starting to come on the market. Look at the different wants and needs of style, location, preference of what kind of home when it was built, or how much work is to be done. Look at the companies who are hiring into the area. I saw more people moving into the Greater Peoria Area this spring than out. Sure, there were many leaving for retirement or a warmer climate however there are many who choose Peoria as their forever home. Look at the growth throughout the entire Greater Peoria Market. There is change everywhere!

I included the latest stats from the Peoria Area Association of Realtors below. Pendings are up – listings, showings, and closings were down. It’s the summer lull and it’s ok.

Pay attention to LOCAL statistics and LOCAL knowledge. Your Realtor has the tools and insight into guide you as you prepare for your next steps. Who knows – you may decide this market is….your time.

 

 

Food August 9, 2021

Mondays are for Dining!

Why is it, that every time you get a hankering for one of your favorite dishes from one of your favorite local places, you cannot remember if they are open on Mondays????? Many local places are not open Sunday, Monday, or even Tuesdays – with good reason! They are open the other days and need a break! However, some places are open on Mondays. More than we thought! Thanks to many friends who answered a question for us….here are some of the many places, you should go for lunch or dinner on Mondays!!!! (A few may be closed for vacation or not open until dinner time, so please call before!)

PEORIA

  • One World
  • Thyme
  • Sugar
  • Jerusalem Restaurant
  • Than Linh
  • Rizzi’s
  • Olympia
  • Kelleher’s
  • Fish House
  • Kenny’s Westside Pub
  • Sushi Gawa
  • Jalapeno’s
  • Los Cabos
  • Castle’s Patio Inn
  • Khaki Jack’s
  • Weaver’s

PEORIA HEIGHTS

  • Cayenne
  • Publik House
  • Peoria Pizza Works

WASHINGTON

  • Brickhouse

PEKIN

  • Maquet’s Rail House

MORTON

  • The Forge Steakhouse

EAST PEORIA

  • Eastport Galley Restaurant and Pub

 

The list is easy to add to and if we forgot any, please let us know. This should give you a nice idea where to go today.

Bon Appetite!

FunMusic/EntertainmentRecreation August 5, 2021

SO MANY THINGS TO DO…..

Did you know are so many great things to do during the late summer in the Greater Peoria Area?

The past year and a half have brought a lot to a halt – canceled concerts, festivals, downsizing of events, and even closed restaurants. However, this summer has brought more to life (still following CDC guidelines) and we are grateful!

The St. Jude Runs weekend was back (although modified for very good reasons) and was such a huge success.

Local restaurants and bars were opening back up with indoor dining, alfresca style dining, and live music.

Every Saturday in Downtown Peoria there are a couple fantastic offerings: 8am-12pm, there’s the Peoria Riverfront Farmer’s Market and the Sculpture Walk 10am at the Peoria Riverfront Museum.

Kellar Station has their own farmer’s market every Wednesday 4pm-7pm.

Get in your car and go to Mackinaw Valley Winery to see JammSammich August 7th.

Plan for the Peoria Erin Fest August 27-29; Pekin Marigold Festival September 11-12; Morton Pumpkin Fest September 15-18.

Just a few reminders that we have so many local events that you have the opportunity to enjoy. Go out there and enjoy where you live!

For more local happenings, check out Discover Peoria

Fun April 19, 2021

A STEP BACK IN TIME

For anyone who grew up in Peoria or lived in Peoria for a certain amount of time, there are places and stories that were told to you. These were factual and nostalgic, and at times, fun and interesting. If I told you there’s a place in Peoria where you can see and feel all of this and purchase for your own, would you believe me?

Well….guess what? There is.

Urban Artifacts is  literally a treasure of all amazing Peoria, Illinois finds from the classic vinyl, vintage Ts, coveted street signs, glassware, stickers, coveralls, to the signage of your favorite diners and the Frisch’s Big Boy. Bigger than it looks from the street, it’s a lot of square footage of Memory Lane that that keep you occupied for more than a browse around. Do yourself a favor and visit. The owners are so kind and helpful. They travel all over to find these gems. If you’re lucky enough, you may be able to have a chat with them and hear the stories that make Urban Artifacts what it is.

Urban Artifacts