Farmer & Co Real Estate

A Review of the 2018 Real Estate Market

Thu, 31 Jan 2019 17:09:00 GMT

As you can see above, there were alot of homes sold in Southern Illinois and McCracken County KY in 2018. There were also many listed for sale in 2018. Personally, I like to see the number of sold listings exceed the number of new listings. This only occurred in Massac County in 2018. I also like to see a lower number of average days on the market. McCracken County has a hot real estate market. The average number of days on the market for a home in McCracken County is only 110 days. This is great! Massac County is just a little over 6 months, which isn’t bad. We typically sign 6 month listing agreements with clients when they list a house with us. The month of December was a pretty good month. Winter months are usually slow months for real estate. While we didn’t set any records, there was still a decent number that sold in December. The government shutdown has played a part in this. Any home buyer using Rural Development, HUD or VA mortgages to purchase a home has to wait to close their mortgage until the government shut down is over and the mortgages will be funded. The next couple months should be very busy for us. We currently have 20 listings in contingent status. This means there are accepted contracts between sellers and buyers but we are waiting on financing, home inspections, under writing, etc before the homes can be officially sold. 20 is alot for this time of the year.

Have you checked out our website lately? We made some changes that recently went into effect. What I’m most excited about is that you can register on our website and save search parameters. When a new listing hits the market that meets your search parameters, you’ll receive an email with the details about the listing. Navigating around our website should be easier now as well. Let me know what you think of it! And if you’re interested in buying or selling property or just have questions, feel free to give us a call. (618) 524-3000.

November 2018 Market Update

Fri, 30 Nov 2018 19:18:00 GMT

Slow Down?

There were quite a few less new listings throughout our southernmost Illinois counties in November. There weren’t too many closings this past month either. As you can see though, in Massac County, the residential properties that closed had all been on the market quite some time. The average days on the market for the six homes that sold was 278 days, or over 9 months. Typically when listing property, the property is listed for 6 months.

4th Qtr 2018

Sellers are often times scared to list property around the holidays and in the winter months. The drop in new listings this past month proves that. But should they be? In November, we helped our clients negotiate accepted contracts on 14 properties. These should all close by the end of the year. This will reduce the number of properties on the market for buyers to consider. Why wait until Spring to sell your home? Winter is a great time to put your home on the market when other sellers may be waiting until Spring and inventory is low. Low inventory typically drives prices up.

Looking Ahead to 2019

No one can predict the future, but there are few things we can count on.

Other 2019 trends can be found here .

We look forward to seeing how 2018 will end. We are on track to end the year with at least, if not more, units sold and $$ sold than 2017. 2019 is going to be an exciting year for us. There are some changes coming from the Egyptian Board of Realtors, which we are a member of, that will result in changes in the way we present our listings to you. There will be updates to our website and other marketing ideas we will be incorporating to sell your properties!.

If you ever have questions about buying or selling property, any of our agents would be happy to meet with you. In the meantime, feel free to browse through our listings here .

What Should You Expect During A Home Appraisal?

Fri, 09 Nov 2018 16:56:00 GMT

A home appraisal is an unbiased opinion of the market value of a home. Lenders require a home appraisal when money is borrowed to purchase the home. Lender must ensure the amount of money requested by the borrower is appropriate. To a lender a home isn’t a house. It is collateral. The lender’s responsibility is to make sure that if you can no longer make payments, they can foreclosure on it and recoup some, if not all, of their costs.

How To Prepare For an Appraisal: The Seller

As the seller you should take a walk around your home. As yourself “Does the roof leak?” “Are there cracks in the foundation?” Tell the appraiser if you have made updates such as a new roof, windows, electrical updates, etc. Updates can increase the value of your home. Here are other things you can do to prepare for the appraisal.

How to Prepare For an Appraisal: The Buyer

The buyer of the home pays for the appraisal. Typically an appraisal costs between $250 – $500. Appraisal costs are based on the square footage and uniqueness of the home. The cost is usually added to the buyer’s closing costs. Lenders randomly select a licensed appraiser from a list of appraisers their institution uses.

What Happens After the Appraisal?

If the home is valued at the amount of the mortgage, the lender will move forward with the closing process. It won’t be long now until closing! If the home is valued above the amount of the mortgage, you automatically have equity in your home!

If the appraised value is under the amount you’ve agreed to pay for the home, you have options. It is possible the appraiser overlooked something causing the value to come in low. It’s also possible the buyer overpriced the home. If the appraisal comes in low, talk to your REALTOR. As the buyer, you have options including renegotiating the purchase price with the seller, or asking your lender for a second appraisal. If the purchase price can’t be justified, the buyer can also pay cash for the difference in the appraised value and the purchase price.

Still have questions about appraisers? Here is additional information you might find helpful.

Low Appraisal

What to Know About Appraisals

What do Appraisers Look For

Do I Have to Buy a Home to Get an Appraisal?

Absolutely not. There are many instances when an appraisal is necessary and it has nothing to do with buying or selling the home or property. For instance, if a homeowner passes away, the heirs may need to have an appraisal to determine property values for the estate. It is also necessary in cases of a divorce if one of the spouses wants to keep the home. An attorney can assist you in these situations with getting an appraisal.

Just a reminder this Sunday is the Holiday Open House in Metropolis IL. Shops and boutiques will feature specials throughout the day to get you ready for the holiday season! Details can be found on the Metropolis Chamber of Commerce Facebook page .

October 2018 Market Update

Fri, 02 Nov 2018 18:37:00 GMT

October Market Hit a Snag?!?

As you can see below, October 2018 saw alot of homes being listed. Sales really hit a snag though…or did they? While the number of homes closed in October dropped quite a bit from September, what the report doesn’t show you is the activity we have coming up.

Let’s Break it Down

Massac County only had 8 residential listings close in October. Of those 8, Farmer & Company Real Estate represented buyers and/or sellers of 7. The average sold price was only $41,244! That is quite a shocking number. What the report doesn’t tell you is that of the 8 homes that sold, 3 were foreclosures, one of which only sold for just over $5,000. Three other homes that sold were owned by estates and the heirs simply did not want to own the homes. The prices these homes sold for are reflective of this.

Look on the bright side…7 of the 8 homes that sold in October will be remodeled, increasing the value of the homes as well as the tax base of Massac County. Some of these will be “flipped” – or put back on the market for sale after the remodel is complete. Others will become the primary residence of the buyer. Either way, homes which may have been an eye sore in their neighborhood, will be cleaned up and updated, improving the neighborhood and possibly helping to increase property values of adjacent homes.

21 homes went on the market in Massac County last month. Farmer & Company Real Estate represents the sellers of 16 of these homes. 3 of the homes are already “Sale Pending”. While the number of residential listings on the market has actually increased, there are also several homes in “Sale Pending” status. Our agents represent buyers and/or sellers of 9 homes that are “Sale Pending” and several that are currently in negotiations over price and other contingencies. We expect that 2018 sales figures will at least meet and should surpass 2017.

Give us a Call!

With many new homes on the market, there are some great deals and beautiful homes available. If you’ve thought about buying a new home, feel free to give us a call! We have REALTORS licensed in both Illinois and Kentucky and offices in both Metropolis and Vienna for your convenience. You can reach our Metropolis office at 618-524-3000 or the Vienna office at 618-658-2600. In the meantime, browse all of our listings here .

All About Home Inspections

Fri, 26 Oct 2018 14:17:00 GMT

What is a home inspection?

A home inspection is an examination of a home from top to bottom, inside and out, by a licensed home inspector. Following the inspection, a written report is provided to the homeowner or the buyer. The report includes details about the condition of the home’s heat & air system, windows, electrical system, roof, insulation, plumbing, etc.

Who needs a home inspection?

If you are buying a home, your bank or mortgage company will require a satisfactory home inspection before lending money for the home. Some homeowners get a home inspection before putting their home on the market. If necessary repairs are discovered, the homeowner can address them before listing the home.

Who pays for a home inspection?

If you are the homeowner preparing to list your home and you want a home inspection first, you pay for the inspection. If you are buying the home and your mortgage company requires the inspection, you will pay for it. This also goes for other inspections required including termite inspections, well inspections, etc.

What to do if the home inspection discovers repairs are needed to the home I am buying?

The purchase contract includes a clause stating you can back out of the contract based on findings of the inspection. If the report determines there is termite damage, water leaks, etc, you may change your mind on buying the home. Inspections can also determine minor issues, such as receptacles being Non-GFCI or the water heater is 13 years old when the life of a water heater is 12 years. These smaller things may be issues that you as the buyer or your mortgage company don’t mind. Buyers can renegotiate the terms of the contract based on findings of the home inspection.

Where do I find a home inspector?

Buyers may use any home inspector or company. They must be licensed by the American Society of Home Inspectors (ASHI).

For more information on home inspections, we recommend visiting the ASHI website.

If you’re ready to start looking for a home to buy, visit our listings here .

Let’s Talk Curb Appeal!

Fri, 05 Oct 2018 20:37:00 GMT

If buyers don’t like the outside of a home, they may not want to see the inside. Adding curb appeal to your home can help sway a buyer to WANT to see your home!

First Impressions Mean Everything!

How many times have you made a decision based on your first impression? The same goes for potential home buyers. No matter how nice your home may be on the inside, you have to get the buyer into your home for them to see that. f there’s paint chipping of your shutters, weeds waist high and a dead tree in the front yard, the chances of a buyer wanting to see the inside of your home is slim. That’s where adding curb appeal comes in.

According to the National Association of Realtors, 63% of potential buyers will drive by a home after viewing pictures of it online. A home’s exterior should be a preview of what buyers should expect inside a home. HGTV offers tips on curb appeal in this post.

Big Budget vs Small Budget

Fall Curb Appeal

With fall’s vibrant colors, it’s easy to add curb appeal this time of the year. Seasonal flowers, such as mums, pansies & asters, pumpkins & gourds and a fall wreath on your front door will make your home look inviting to buyers. Here are even more ideas for fall curb appeal .

Curb Appeal Mistakes

We’ve given you alot of curb appeal ideas, but what should you NOT do?? Don’t avoid peeling paint. Don’t let your yard go. Going out of town? Ask your neighbor, a family member or friend to mow your yard while you’re gone. Not only will this add to your curb appeal, it might also ward off thieves who may be scoping out your home if they’ve noticed you’re out of town. Make sure you keep any potted plants watered and looking fresh as well. Here are a few other things you should avoid as well.

Once you get your home looking top notch, both inside and out, be sure to give us a call. We would gladly list your home for you or simply sit down for a consulation to discuss the idea. We have 11 agents licensed in either Kentucky and/or Illinois, so no matter which side of the river you’re on, we can help. (618) 524-000.

September 2018 Real Estate Update

Fri, 28 Sep 2018 17:38:00 GMT

The September real estate market has been hopping!

At the end of each month monthly Real Estate Trends report will be posted to our blog. This report will include the number of new residential listings, sales, average sold price and days on the market. We will report these figures for Massac, Johnson and Pope counties in Illinois and McCracken County Kentucky. Below is the September report.

September was a busy month. The figures include listings from all agencies, not just Farmer & Company Real Estate. How many of these new listings were Farmer & Company Real Estate’s? And how many of the sales did a Farmer & Company Real Estate agent represent the buyer or seller? In the month of September, Farmer & Company Real Estate listed 10 new residential listings, 1 commercial listing and 1 farm in Illinois. We sold 10 residential listings, 1 commercial listing and 389 acres in Illinois. We did not list any properties in Kentucky during September but we did sell two homes. To see our listings, you can click here. So how does our area compare to the rest of the country? Here is the August 2018 (the most recent sales figures available at this time) report from the National Association of Realtors.

Call Us Today!

If you’d like to sit down and talk to one of our 11 licensed REALTORS about either buying or selling your home or property, we would be happy to assist you. We have licensed REALTORS in both Illinois and Kentucky and an office in Metropolis and Vienna IL. Don’t hesitate to contact us to get started by calling our office at (618) 524-3000 or emailing us at info@farmerco.net.

21 Tips to Sell Your Home Quickly

Fri, 21 Sep 2018 20:35:00 GMT

There are many things you, as a seller, can do to help us sell your home quickly. This list of tips are things you should consider doing before putting your home on the market.

1. Declutter

Get rid of all your extra stuff! If you’re selling your home, you will also be moving. You don’t want to spend the time or money moving all that extra stuff you no longer need. Have a yard sale, donate to your local charity or rent a storage unit. Rooms and closets will look much bigger to a prospective buyer if they aren’t packed full of stuff. And you’ll feel so much less stressed if you don’t have to pack all that stuff up when you move.

2. Paint Walls a Neutral Shade

Neutral colors sell faster than bold colors which can seem harsh. Neutral colors also give rooms a larger appearance. Some buyers simply can’t see past a bold colored wall.

3. Clear the Refrigerator of Magnets, Papers, Pictures, Etc.

This goes back to #1 – declutter. Refrigerators that have an abundance of “decorations” can make a kitchen feel messy. So go ahead and pack all those things away until you get moved into your new home.

4. Clean Thoroughly

Before we come to photograph your home, take a weekend to deep clean your home top to bottom, inside and outside.

5. Mow and Clean Up Landscaping

Keeping your yard mowed and the outside of your home maintained adds curb appeal to your home. Keep weeds pulled, add some mulch and maybe even plant some fresh shrubs or flowers.

6. Add Flower Pots

Nothing leaves a first impression better than fresh flowers. If you don’t already have potted flowers or hanging baskets on your front porch or by your front door, stop by your local nursery to get some. Be sure to keep them watered and looking fresh.

7. Fix Forgotten Repairs

Walk around both the inside and outside of your home and make a list of things needing attention. OR use painters tape and put a small piece of tape on anything needing repaired whether it be a leaky faucet, broken drawer handle or a wall that needs touched up with paint. These things will come up in a home inspection, so it would be better to fix them before your home goes on the market.

8. Keep Tables, Counters and Dressers Clear of Clutter

Whether its your mail, magazines, the kids’ homework or makeup keep everything in its place and out of sight. These types of things shouldn’t be in listing photographs, nor should strangers be able to see them when your house is being shown. Get in the habit now to keep these things picked up so when a last minute showing is scheduled, its not a mad dash getting your home ready.

9. Make the Beds!

This should be done before your listing pictures are taken and EVERY DAY until your house is sold! In case a last minute showing is scheduled and you don’t have time to go home and make your beds, just do it every morning instead. And if your kids don’t know how to make their beds yet, there’s no time like the present to teach them!

10. Pick Up Your Laundry!

Whether its clean clothes or dirty clothes make sure its all put away and out of sight at all times! Here’s another tip – if you have alot of dirty clothes and you haven’t had time to wash them – go ahead and throw them in your washer before a showing. Chances are potential clients won’t open your washer and look inside. Now the dirty laundry is out of sight and also not making your closet or bathroom smelly.

11. Brighten Up Your Light Bulbs!

Switch out your light bulbs to make your home look bright! Bright lights will make your rooms look bigger.

12. Make Your Entryway Welcoming

Hang up all your jackets and bags and organize shoes that tend to get dropped inside the door.

13. Open Your Curtains & Blinds

Natural light brightens rooms and makes them look bigger. Bigger rooms = Happy Buyers!

14. Make Your Bathroom Spa-Like

Hang up towels, wash clothes, put a little basket of soaps on the counter. You could even splurge and purchase white towels (they don’t have to be expensive) to truly give your bathroom a spa-like feel.

15. Use Throw Pillows & Blankets

Nothing gives your home a more welcoming feel than throw pillows and blankets – not only on your sofa but also in your bedrooms.

16. Set Your Tables

Setting your table with dishes, placemats and a center piece will also give your home a welcoming fee. It doesn’t have to be extravagant. Just something homey. Don’t like your dishes or silverware? Just a nice center piece and a table runner will do.

17. Take Out the Trash

Need I say more? Also – stash all your garbage cans out of sight before showings. This includes bathrooms too. Just stick them under the sink.

18. Freshen Your Garbage Disposal

Just grind up some lemons to take away the funky smell garbage disposals will sometimes give off.

19. Use Essential Oils

If your home is being shown, you don’t want to leave a candle burning when you’re not there and room fresheners can sometimes be too “perfumy”. Instead, place a few essential oil diffusers strategically around your home. Try using lemon, lavender or rosemary. This will also help eliminate smells from that garlic bread you cooked last night.

20. Put Out a Vase of Fresh Flowers

While artificial flowers are nice, fresh flowers make a great impression. Stop by your local grocery store to pick up a fresh arrangement and set them in a nice vase on your entryway table, kitchen table or your kitchen counter.

21. Take Care of Your Pets

While your family may be pet loving, a buyer looking at your home may have a strong allergy to pet dander. Make sure pets are put up and litter boxes out of sight when your home is being shown. You don’t want your home smelling like a wet dog or a little box take care of these tasks daily.

Last but not least…

make sure you home is ALWAYS accessible. When a potential buyer wants to see your home, even if it is last minute, let them see it. Even though you’d prefer to have a 24 hour notice, last minute showings will be requested at some point. This is why it is so important to have your home in “Show Condition” at all times. You don’t want to lose a buyer because the appointment time wasn’t convenient for you. And this does happen…all the time! Want more tips on how to stage your home to make it appealing to a buyer. Read more here .

The Fall Real Estate Market

Mon, 10 Sep 2018 20:06:00 GMT

Summer is coming to an end. While Spring and Summer seasons are typically the best times to put your property on the market, 2017 proved this wrong. Last year the fall and winter months were just as busy for us as spring and summer months. Homes & property were selling like crazy! 2018 is on target to be a record producing year for Farmer & Company Real Estate agents!! Our agents have represented buyers and sellers of 79 residential properties, 14 lots/land properties and 2 commercial properties in Illinois as well as 8 residential properties in Kentucky already this year.

So what does this mean for you??

Buyers

There are many homes on the market right now! While several have been listed recently within the last couple weeks, many have been on the market for a few months. Sellers may not want to worry about winterizing their homes, if they have already moved or paying additional property taxes. Sellers are negotiating to get their property sold. Wouldn’t you love to be settled into a new home before the holidays? Check out these properties that are listed for sale.

Sellers

Inventory typically drops once the fall months arrive. But that doesn’t mean the number of buyers also drops. With lower inventory, there are less homes for buyers to choose from. Wouldn’t you want your home on the market for a buyer to see if they are looking now? Why wait until Spring to list your home? Need more reasons to list your home now? Here are several.

Since September 1st is the unofficial first day of fall, we wanted to give you an update of our fall sales figures. Since September 1st, we have closed 11 properties. 7 of these are residential properties and 4 are lots/land totaling 272 acres. The residential sales total $605,250 with an average of $86,464. These homes were located in Saline, Pope, Johnson and Massac Counties. Its been a great September so far and we are not even half way through the month!

Farmer & Company Real Estate has 11 agents ready to help you – whether you are a buyer or a seller. We have agents licensed in Illinois and Kentucky and we have listed and sold property from Mt Vernon IL to the Ohio River and all the way to Kentucky & Barkley Lakes in Western Kentucky. Give us a call to discuss buying a new home or selling your current one! (618) 524-3000.

Farmer & Company’s New Website

Mon, 23 Nov 2015 17:28:00 GMT

Welcome to Farmer & Company Real Estate’s newly designed website and blog. We hope that you find our new website easy to navigate when searching for properties and also full of valuable information, whether you’re a buyer or a seller.

In honor of our very first blog post – I wanted to give you the 5 most common misconceptions about Real Estate.

1. You don’t need a real estate broker to help you buy a home with so much information available on the internet.
Granted – you can search for property and get all the details online through real estate websites, however…buying property is generally an infrequent event in your life, but we deal with buying and selling property every day. You need someone along side of you in your journey that knows the market, knows the process, understands the contracts, disclosures & inspections and can help you interpret the data involved. Buying real estate can also be very emotional and you need someone who can help diffuse the emotions involved and negotiate the best terms for you.

2. You need 20% down.
While having a down payment will shave years off your mortgage, its possible to buy a home with $0 down. There are many financing options available to buyers and we will help you find a financial institution to work with if you don’t already have one.

3. My home’s value is whatever the appraiser says it is.
The market value of a home is determined by what a buyer is willing to pay. Factors such as views, finishes, fixtures or neighborhood specifications can affect your home’s appraisal. So does comparable sales of other homes in your area.

4. Spring is the best time to sell a home.
Traditionally, many buyers begin looking for a home in the spring to give their family time to get settled before the start of the new school year in the fall. This trend has made people think spring is the best time to list a home for sale. But not all buyers today are families with kids. Buyers are newlyweds, downsizers, baby boomers and people who simply don’t care about the school calendar. The best time to sell your home is when inventory is low, and we are just getting into that season now. So don’t wait to list your home until Spring. Instead give us a call today to get your home on the market now before those who are waiting until Spring to list.

5. You need to have open houses to sell homes.
Do you watch HGTV? Many of the shows end with the sellers hosting an open house and then miraculously an offer comes in (sometimes even above list price!). Well, unfortunately, we’re not in a metro area in California and traditionally open houses in Southern Illinois are not well attended. Now, you go across the river to Western Kentucky – and open houses are often times more successful. Does that mean we won’t have an open house if you want one? Absolutely not – the more you make your home available to potential buyers, the better your chances of selling it. But don’t be discouraged when there aren’t hoards of potential buyers lining up at your door. Traditionally, private showings (set up ahead of time with the buyer’s agent and potential buyer) are more successful in our area than open houses. When your house is listed, we ask that you keep a flexible schedule so it can be shown at a moment’s notice.

I hope that I’ve been able to provide a little insight for you about buying and selling property. If you have any questions or are now ready to either list your property or start shopping for property, I invite you to give us a call today. With brokers licensed in both Illinois and Kentucky, we are ready to help you buy or sell property in Southern Illinois or Western Kentucky. (618) 524-3000.

Stewart Weisenberger,
Broker/Owner
Farmer & Company Real Estate