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By Anthony Bollman
(Source 1 Mortgage)
Comments 0
A lease with option to buy allows a renter to purchase a home after at least 12 months or more of timely payments made through a checking account to the seller.  A buyer usually enters a lease with option to buy with a small down payment and a negotiated purchase price of the home upon the maturity of the lease contract.  Sometimes the seller will also credit a monthly portion towards building equity within the home. The bank will treat this as a purchase with prior credits for down payment. It is a win win scenario. Buyer Benefits: allows monthly buildup of equity allows the buyer time to repair credit for bank financing allows the buyer to find another home without purchasing if they exit pior to contract maturity allows the buyer to try out the home prior to purchasing Seller Benefit...
By Anthony Bollman
(Source 1 Mortgage)
Comments 1
About Myself      I have been a respected lender within the Sauk Valley area since 1998. I am mainly a correspondent lender for US Bank, but I also have other resources.  My specialty is in first time home-buyers. Sometimes it takes creative solutions and knowledge to put a challenging transaction together. My borrowers know that I am available 24 hours a day if they have questions. Many times, borrowers find they have more questions as their transaction progresses. I find that if my borrowers are able to get answers to these questions in a timely manner, their stress level is kept to a minimum.        There are many lenders out there, but it is those lenders that are willing to listen to the borrower's needs, and earn their respect, that help them choose from all the mortgage products ...
By Anthony Bollman
(Source 1 Mortgage)
Comments 0
Lenders require at least 20% down on investment property. The best way to finance a flip property is to obtain a short term interest only portfolio loan due in 12 months.  This increases the buyers cash flow to renovate the property.  Some lenders are willing to set up a purchase loan based on the current appraised home value. This allows a buyer to purchase the home with little or no down payment based on the current home equity. A buyer may also have the option of simultaneously allowing the lender to provide a lien against another property that the buyer owns with equity.  This would provide extra cash to renovate the flip property. A portfolio loan has lower closing costs and can be set up to allow for no monthly payments.  This type of portfolio loan is due in 12 months. The loan c...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Sterling, Rock Falls and Dixon Sales and Marketing Report The following graphs will provide you with a breakdown of sales for years 2005, 2006, 2007 for homes and multi family units in Sterling, Rock Falls and Dixon Illinois. 3 Bedroom homes in all prices continue to sell well. It should be noted that year 2005 was one of the best local selling markets as rates were very favorable in that time frame and there was plenty of mortgage money available.    The market graphs show that the local area is not seeing the huge downward shifts that are being reported in other areas of the country. We have for the most part held steady. Interest rates are still very favorable for most buyers and will allow you more home than last year. If you are considering a move I have set up a place that allows ...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Sterling,  Rock Falls and Dixon, Illinois Market Survey Report  Real Estate Survey of Whiteside and Lee County Town Real Estate for SaleWeek of January 8, 2008 - January 15, 2008      CITYNew and Back on Market2008  /  2007 Went To Pending2008  / 2007Went to Expired2008 / 2007Went to Closed2008 / 2007Sterling16/114 / 27 / 82 / 5Rock Falls13 / 134 / 6 4 / 62 / 4Dixon16 / 62 / 6 10 / 132 / 2  This chart shows the total sales volume for the second week of January 2008 as compared to the same time in 2007. Year to date graph will follow. The market data for real estate and homes for sale in Sterling, Rock Falls and Dixon was pulled from the Sauk Valley Association of Realtors as of a 5:30 P.M. download and all information is believed to be accurate but not warranted.   As you can see there ...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 2
Sterling,  Rock Falls and Dixon, Illinois Market Survey Report  Week of January 1, 2008 - January 7, 2008        CITYNew and Back on Market2008  /  2007 Went To Pending2008  / 2007Went to Expired2008 / 2007Went to Closed2008 / 2007Sterling7  /   73 /  68  /  62 / 5Rock Falls5  /  55 / 37  / 91 / 4Dixon16 / 106 / 25 / 44 / 5  This chart shows the total sales volume for the first week of January 2008 as compared to the same time in 2007. Remember that this was a holiday week with a holiday on Monday and Tuesday.   As you can see there is little market change. Some of the new listings may be carry over from the previous year and also includes back on market which includes a listing that may have expired prior to January 1, 2008 and re-listed prior to January 7, 2008.If you are thinking abo...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 2
  The total numbers are in for the Sauk Valley Association of Realtors. The following charts show sales activities of the top  offices in the Sterling and Rock Falls Area.  Each of the local RE/MAX offices are independantly owned and operated. These numbers represent only those sales that were reported to the mls of the Sauk Valley Association.  Market Sales Totals for 2007City of Sterling, IllinoisTop 6 Offices  by Transaction Volume  OFFICEOffice Listings Closed% of TotalListingsSelling Side Units Closed% of Selling Units ClosedRE/MAX Sauk Valley12636 %12335 %Mel Foster8825 %7421 %C-21 Results3911 %319 %Coldwell Banker *298 %257 %RE/MAX Homes Unlimited185 %257 %Leonard Realty103 %72 %      City of Rock Falls, IllinoisTop 6 Offices  by Transaction VolumeOFFICEOffice Listings Closed% of...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 2
  For Immediate Release:                                            For Further Information Contact:January 10, 2008                                                                    Brian Corwell 815-625-3722  Get Foreclosure Information at www.YourIllinoisHome.comLee & Whiteside Counties, IL - If you are a homeowner at risk of foreclosure you need to know there are programs and services that can help but you must act quickly and before you are three months delinquent on your mortgage payment, according to Beth Llewellyn, CEO of the Partnership for HomeOwnership and a U.S. Housing and Urban Development (HUD)-certified homeownership counselor with over 12 years of experience helping lower-income families achieve homeownership. Llewellyn's information for homeowners facing foreclosure c...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
You will fall in love with this large 2 story home  in Sterling, Illinois with 4 bedrooms and 2 1/2 baths. This one has 2700 square feet of living space and is on a large double lot with plenty of nice landscaping. The home also offers a full basement, a screened in front porch and is ready for you today.             RE/MAX Sauk Valley3200 E. Lynn BlvdSterling, Il. 61081815-625-3722 Office815-716-0772 Agent Direct
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 1
LOCAL SCHOOLS INFORMATION AND REPORT CARDS   For the Community of Sterling, Illinois   If you are thinking of a move to a home in Sterling, Illinois, or have a question about Sterling, Illinois Schools you are at the right place.   Known as Community Unit School District #5, the local system is a unit system with approximately 3600 students in kindergarten through high school.   It is made up of 6 schools  buildings that are all in the city limits of Sterling and has four elementary schools that are divided into two K-2 and two grades 3-5 attendance centers.   Franklin Elementary  is a K-2 school located on the north end of the city at 1510 E. 25th Street.  Stop in and visit the on-line school or take a look at the recent report card. The Principal is Lisa Vasquez. The schools phone num...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Whiteside and Lee County Illinois2007 Marketing NumbersServing the communities of Sterling, Rock Falls, Dixon Real Estate         The final numbers are in on the total sales volume of homes in Sterling, Rock Falls, Dixon, Morrison and Tampico as well as other of the smaller communities in Illinois in Whiteside and Lee Counties. Counties2006 Closed Listings2007 Closed Listings2006 Avg. Price2007 Average Price2006 Days on Market2007 Days on MarketWhiteside659606$86,917$89,217109106Lee381379$104,631$104,829106106TOTALS1040985       (-5.3%)     The lowest sale price in 2007 in Whiteside County, Illinois was $6,000 and the highest sale price was $630,000 .The lowest sale price in 2007 in Lee County, Illinois $4,000 and the highest sale price was $410,000All data was pulled from the Sauk Vall...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 2
FIRE DESTROYS OLD RELIENT FASTENER BUILDING    On Friday, December 28th a fire broke out in the old Reliant Fastener factory in Rock Falls, Illinois. The city was fortunate that departments from all over came to mutual aid at the fire as well as at the stations in Sterling and Rock Falls. Special thanks to Dixon Rural, Dixon City, Harmon, Amboy, Walnut, Erie, Lanark, Fulton, Coleta, Milledgeville, Tampico, Prophetstown. It was a cold night for the firefighters. It may have been fortunate with recent snow fall which helped keep the fire from spreading to other property. Here are some photos that a client sent to me.Thankfully, there were no reported injuries to anyone. An investigation is pending and it will be a number of days before anyone can gain entry. The fire could have been alot ...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
NEW LAWS REGARDING REAL ESTATE In 2008 for State of Illinois  Hello all Sterling Illinois Homes buyers and sellers.  If you own a home and are planning to sell,  or are buying a home in Illinois a recent change to Illinois law is of importance to you. Effective January 1, 2008, all sellers of residential property in Illinois must provide buyers with a completed Radon Disclosure Form. This form is much like the lead base form and provides for the seller to inform any potential buyer of any known information about the presence of radon in a home. This act is known as the Illinois Radon Awareness Act.  Much of what is here is pretty scientific. In order to save time I have given you the quick version of this law as well as RADON. I have included links to the important details throughout th...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 6
You see there is hope...please don't bury your head...  You may be one of the many  homeowners eligible to refinance your home with Federal Housing Administration (FHA) insurance if you are falling behind in your mortgage payments with a new program called "FHA Secure.  As a homeowner you could qualify for this option if you meet the following five criteria: 1) a history of on-time mortgage payments before the borrower's teaser rates expired and loans reset; 2) interest rates must have or will reset between June 2005 and December 2009; 3) three (3%)  percent cash or equity in the home; 4) a  history of employment; and 5) sufficient income to make the mortgage payment. See http://www.fha.gov/ for more details, but DON'T DELAY!One other option for the homeowner is to sell the home. Often ...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Sterling Illinois Homes and Inspections  What can you expect from a professional home inspection? So you have decided to make that offer and the seller has accepted. You have decided to have a home inspection. Now what? Well, if the home is in Illinois state law mandates that the inspector must be licensed. Your Sterling, Illinois Realtor  will be able to provide you with a list of home inspectors. It is best to speak with several so that you can get an idea of costs and their level of expertise.   The job of the home inspector that you hire is to look over all the major parts of the home that you and your agent may not have been able to see or get to and to write a report of the findings. It makes sense for you to attend the inspection so you don't have to try to decipher the report. T...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Rock Falls First Time Homebuyer  In this day and age buying a home raises tons of questions for someone who is a first time home buyer looking for a home in Sterling, Illinois. I  know because I answer those questions on a daily basis. Over the years what I have found is that many of the same basic questions get asked over and over again.My goal with this BLOG is to help you get you started with just the basics and to assist you in your house hunting search.   Getting Started: The first, most critical step, to owning your very own home is to examine how much home you can afford.  A mortgage calculator is a good first step. You will need to enter some basic information and the system will give you an idea of how much home you may be able to afford. This should not be confused with gettin...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Sterling, Rock Falls and Dixon Illinois  First Time Homebuyer In this day and age buying a home raises tons of questions for someone who is a first time home buyer looking for a home in Sterling, Illinois. I  know because I answer those questions on a daily basis. Over the years what I have found is that many of the same basic questions get asked over and over again.My goal with this BLOG is to help you get you started with just the basics and to assist you in your house hunting search.   Getting Started: The first, most critical step, to owning your very own home is to examine how much home you can afford.  A mortgage calculator is a good first step. You will need to enter some basic information and the system will give you an idea of how much home you may be able to afford. This shoul...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Dear Sterling, Rock Falls and Dixon Illinois RenterIn the internet age there are several good ways for you the future home buyer to Find That Perfect Home in Sterling, Rock Falls or Dixon Illinois.  Some smarter than others.  You can start by driving all around town looking for signs...(not good for your wallet but at $3.00 a gallon for gas it makes the gas station owners happy) or you can look for that perfect home in the local paper...easy on the gas, but totally inefficient as it only has a fraction of the available listings, hmmm still not finding that home of your dreams... Now, what if you can go to one place and search and locate all the homes available in all the towns in Whiteside and Lee Counties in Illinois?     Well your search in nearly over. No more calling on a sign or an...
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Sterling is a small community of 15,500 with a sister city of Rock Falls with 9600. We are centrally located in Northwestern Illinois and are 90 miles west of Chicago on Interstate 88 (now known as the Reagan Tollway). Sterling and Rock Falls, Illinois is also about 50 miles East of the Mississippi River. 
By Brian Corwell, Sterling, Illinois Real Estate
(RE/MAX Sauk Valley)
Comments 0
Well it looks like locally the market has not suffered from the big downfall predicted by the media. Stay tuned as I will reveal the end of year numbers as well as what to look forward to in Sterling, Rock Falls, Dixon, Illinois real estate. I will also have updates on lending and all the ew programs that are in the works for FHA. Brian CorwellSterling, Illinois Real Estate

Whiteside County, IL Real Estate Professionals