Vermilion County, IL Real Estate News

By Bill Jenkins
(Classic Homes Realty)
Some of the very unique things about Danville Il, Vermilion County is the "County Wetlands Preservation". This is an area open to the public with a very nice observation tower for photographing some of the indigenous wild-life. Its not unusual to spot many varities and species of birds such as "Bald Eagles" and "Red Tail Hawks". This photo was taken in December of 2010 and shows the board walk in the back-ground. Vermilion County has many attractions with educational value. There is river rafting, extreme hicking trails, Lake Vermilion for summer time boating and activities, as well as numerous venues in the Art and Entertainment arena. Of course we are the home of Dick and Jerry Van Dyke, Gene Hackman, Bobby Short and Donald O'Connor. Our cultural diversity and devotion to family acti...
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By Callie Thompson, Property Xchange Solutions
(Property Xchange Solutions)
Loan Modification Attorney Vermillion County, IL (Illinois)Author: C Thompson Loss Mitigation Case Manager   This blog is to inform those of you in Vermillion County, IL who are looking for guidance when searching for a legit loan modification third party negotiator. So many homeowners are being taken advantage of or being ripped of by companies who portray themselves to be something they're not. The fact of the matter is that 75% of loan modification companies are either scam artists or inexperienced and misleading. Your best bet is to stay clear of these so called "loan modification companies" or "attorney-based loan modification companies" and seek help from a licensed Attorney.Even finding an Attorney who is affordable and have some sort of money back guarantee can be a task in itse...
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By Michael Rohall
(1st Choice Realty)
Just did the year to date stats. After a short down turn in prices, things seem to have leveled off. Prices so far in 2009 are down less than 1%. As i have said all along, we never had the steep increases. MLS average home selling price is just under $63K. On the down side total homes sales in the MLS are down 25% as compared with the first 2 months of 2008. Market times have increased to an average of 155 days. While the market feels saturated, the numbers are encouraging. Current inventory is approximately 9.5 months. But, a word of caution here: this figure is much more influenced by price. For homes over $200K, the months of inventory grows to 20 months. The other discouraging thing is home prices. Many homes are going on the market priced too high, period. Our average active list p...
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By Michael Rohall
(1st Choice Realty)
I just read a new CNN report on line discussing the low numbers for many markets across the nation.  While median prices nationally (-5.8)% and regionally (-3.2%) continued to fall, our median price has rebounded (16.1%).  Danville continues to be a value in the world of real estate.  When we see the national figures just released for the fourth quarter and compare our local market, we can truly celebrate.  The CNN report is lamenting the fact that the nation has begun to follow the major markets.  Fortunately for us, we still have the most affordable housing, and are experiencing growth in sales values.As of Dec 31, 2007 sales in the Danville Area Board of Realtors MLS have taken a turn in the right direction.  After a record number of units sold in 2006, we are back to a "normal" pace...
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By Bill Jenkins
(Classic Homes Realty)
Welcome to affordable housing! While the rest of the country and most of the sate of Illinois has experienced huge value drops Vermilion County has been relativly unscathed. We offer a great central location that is 120 miles south of Chicago, 40 miles east of Champaign IL location of the University, and 90 miles west of Indianapolis Ind. Talk about easy driving distance.. When most people think of Central Illinois they think of vast open corn and bean fields and although we do have that we also have a wonderful man made lake "Lake Vermilion" for summer boating and water-sports, we have 2 beautiful state and county parks, nature reserves and very mature neighborhoods with very affordable housing. We are certainly not a shopping haven but do have all the basic amenities to make life enjo...
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By Michael Rohall
(1st Choice Realty)
Right now, the market is something of a mixed bag.  There is good news mixed with some trends that show the future might not be so bright.  The bottom segment of the market has softened a quite a bit.  That has given us an 18% increase in median selling values.  While units are down over the record year of 2006, we are still trending up over the last five years.  But the inventory is growing, especially high end.  There is Over a years worth of properties over $200k  I wrote more listing contracts this week than in any single week since I began practicing real estate.  In addition, the number of FSBO's available is the highest I have seen.  And now we had the announcement that there will be another several hundred jobs leaving the market.  During a time inventories are climbing, my aver...
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