Home Sales Activity Update

According to the National Association of Realtors (NAR), the volume of existing-home sales is expected to remain stable through late spring 2008, and gradually improve further from there during the second half of the year.

NAR chief economist, Lawrence Yun, says buyers have been waiting for higher mortgage loan limits. “The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions,” he says.

In Madison County the revised FHA loan limit is now $281,250.

Do Something This Weekend

Man (and Woman) cannot live by real estate alone, so get out and do something this weekend.

My choice? The annual Art in Bloom celebration at the Saint Louis Art Museum. From now through Sunday, the museum is anticipating spring by displaying professionally designed live floral arrangements inspired by selections from its permanent collection.

Grab a guide to the exhibition when you enter the Grand Hall and just follow the fragrances through galleries featuring Renaissance art, Impressionists, the Asian galleries, decorative arts and the modern and contemporary collections.

A bonus: A terrific quilt display also is open at the museum and, as always, the museum's gift shop offers items that relate to the exhibition.

Where to go: I-64/40 west (yes, the highway is open from Illinois to well past the museum exit and traffic is fine), take the Forest Park/Museums exit and folow the signs to the Art Museum.

Help With Your Downpayment and Closing Costs

Sometimes it can be hard for buyers to get enough cash together to complete the purchase of a new home. Madison County may be able to help.

The County's Community Development homebuyer program is offering $3,000 or $5,000 loans, forgiveable after five years of occupancy.

If your family's income falls below the program's guidelines, and if you meet certain other criteria, loan money may be available to help toward down payment and closing costs involved in buying your next home.

Call me at 618-791-8007 or send an e-mail by clicking here. I can explain the program and connect you with a lender who is participating in Madison County's program. Together we can find you and your family your next home.

What Did It Sell For Today?

POCAHONTAS
379 State Rt. 143, $287,000

MARYVILLE
38 Gary, $155,000

EDWARDSVILLE
135 Springer, $150,000

GRANITE CITY
2111 Lindell, $112,000

GLEN CARBON
8 Shingle Oaks, $212,000

What Did It Sell For Today?

GLEN CARBON

24 Lamplight, $233,000

MARYVILLE

121 Fairway, $172,500

EDWARDSVILLE

7042 Koufax Ct., $360,000

WOOD RIVER

220 Crestview, $90,000

The State of Edwardsville and Glen Carbon: Growing

The mayors of Edwardsville and Glen Carbon -- Gary Niebur and Rob Jackstadt respectively -- are pleased with the area's growth over the past year.

At the recent State of Glen-Ed meeting, both pointed to the Edwardsville Crossing shopping center (which stradles the border between the two towns) as the centerpiece of their entertwined cities' commercial growth.

The center brought in $580,000 in property taxes and $930,000 in sales taxes in 2007, despite being unfinished. Shoe Carnival, Old Navy and Starbucks are among the businesses still under construction and a number of outlots have yet to be developed.

Among the retailers already operating at the center are Best Buy, Borders, Petco, Michaels, Dierberg's, 54th St. Grill, St. Louis Bread Company, Buffalo Wild Wings and Ashley Home Furniture.

CNN: Best Time to Buy in Four Years

CNNMoney wrote today that now is the best time to buy a home in the last four years. The web news source cited a National City report that found combined price declines, stable interest rates and high inventories were contributing to the favorable buying situation. Learn more at CNN. If you're ready to take advantage of this alignment of the real estate moon, sun and stars, contact me.

Glen Crossing Road Update

If you travel through the Madison County village of Glen Carbon, you've probably noticed that Glen Crossing Road is closed at State Rt. 159. The convenient cross-town link went under construction in early February. It's being rebuilt from 159 to just east of Waterford Lane.

Area residents will be pleased to see new pavement, curbs, gutters, storm sewers and sidewalks when the project is finished. Village public works officials note that the work will be performed in seven stages and should be finished by the end of August 2008. For more information on Glen Crossing Road or other public works projects, visit the Glen Carbon web site.

Mortgage Loan Rate Update

Here's the mortgage rate update from Freddie Mac as of February 28, 2008:

Loan term: Average rate %, (fees and points):

30-yr: 6.24% (0.5)

15-yr: 5.72% (0.5)

5/1-yr ARM: 5.43% (0.4)

1-yr ARM: 5.11% (0.7)

What's Freddie Mac? It's part of a process that takes place in the secondary mortgage market that is transparent to most homebuyers. A government-chartered corporation, Freddie Mac buys mortgages from home loan lenders, thus freeing those lenders to reinvest their money in the community by making even more loans. Fannie Mae is another such corporation with a similar mission.

What Did It Sell For Today?

EDWARDSVILLE
437 Grandview, $140,000

WOOD RIVER
199 Red Bud Drive, $162,500

HIGHLAND
1000 Beech, $133,000

TROY
311 E. Center St. , $147,900

Kristin and Rob's Casa Reveal

Last summer I helped my clients Kristin and Rob buy their first home. It's a charming brick bungalow with some great interior spaces and an amazing deck and yard. Now they're in the process of making the home reflect their own taste and style through paint, fabric, hard work and some road trips to Ikea. Congratulations, Kristin, Rob and Beamish (the puppy), you're doing a great job! You can follow their adventures here.

Birds, Squirrels and Racoons, Oh My!

Can't we all just get along?

Sometimes owning a home means figuring out how to get along with the neighbors. In this case, it's the furry, four-pawed and winged neighbors we're talking about.

The Watershed Nature Center in Edwardsville is hosting the University of Illinois Extension Service for some education on basic wildlife facts. The workship begins at 9 a.m. on March 15. Specialist Laura Kammin and Edwardsville police lieutenant Scott Evers will talk about preventing wildlife problems, which is better than having to call animal control later. (By way of example, pictured right is the squirrel named "Thunk" who has claimed a cedar birdhouse as his own.)

Pre-register by March 10 by sending your name, address and phone number and a $5 check payable to University of Illinois Extension to PO Box 427, Edwardsville, IL 62025. Or, register online at web.extension.uiuc.edu/madisonstclair. Questions? Dial 618-650-7050.

Bridging the Mississippi

It looks like Missouri and Illinois have reached agreement on the long-awaited new Mississippi River bridge. The governors of the two bordering states made the announcement this week.

The $640 million bridge and its new road connections will be constructed a north of the Martin Luther King Bridge and south of the recently re-opened McKinley Bridge. Federal funds will cover $239 million of the construction cost.

Construction is expected to start in 2010. The bridge will carry two lanes in each direction and will be designed to connect I-70 from the I-55/70/64 interchange in Illinois to the I-70 and Cass Avenue area north of downtown St. Louis in Missouri, relieving traffic on the Poplar Street, Eads and King bridges.

Nearly 70,000 residents of Illinois' close and convenient suburbs cross one of the Mississippi River bridges each day to work in Missouri.

What Did It Sell For Today?

GLEN CARBON

18 Matterhorn, $156,000

COLLINSVILLE

219 S. Chestnut, $112,000

ALTON

1803 State St., $105,000

TROY

8756 Old Lebanon Troy Rd. $180,000

HIGHLAND

30 Vineyard Ct., $320,000

EDWARDSVILLE

452 Tamarach, $100,050