New prices!!!!

Just recently reduced the prices on a couple of our listings out in Oak Run.

285 Pin Oak was $189,900 now $184,999
286 Pin Oak was $169,900 now $159,999
124 Sunnyview was $575,000 now $565,000

For your personal and private showing, give us a call at 309-253-6098 today or visit  http://www.oakrunpoa.com/ for additional information!

New price on 121 Sunnyview!

Click on http://www.121sunnyview.info/ to see all of the details of this great home! Was priced at $599,000, it is now priced to sell at $549,900. Located in the Old Orchard Subdivision this waterfront home has a level lot walking right out to the cove. Full finished lower level, spacious main level, plenty of bedrooms, quality both inside and out-this home is ready to move into! To make that even easier, this home comes with the option of being fully furnished along with boats (jet ski, bass boat and pontoon boat), lifts and everything you would need to enjoy the summer and year round activities of Oak Run!

New Lake Front lot at a great price!

We just listed lot 123 Oakview Court in the Parkview subdivision this week for $139,900 which makes it an incredible buy for someone looking to enjoy all the benefits of lake front living. This lot comes with electricity by the waters edge, a dock and a catilever boat lift already in place! Lots of trees and privacy up top and a road already in place to take you right to the water! We even have a floor plan showing the layout, front/side/rear elevations and a plot plan showing how it is proposed to sit on the lot. All that is left for you to do is enjoy it!

The Lake is Open!!!!

Just in time for a great warm weekend-finally! The lake was closed for a short time this past week due to some heavy rainfall. There were even a few floating boats around the lake so you might want to check on things when you are out there. I didn't see any lose boats but there were plenty of docks that were right at the water level or just below it.

Some new stats in Oak Run as of 5/12/2010

Just looking over some numbers for lake front homes in Oak Run over the last 12 months.

For homes that have sold...so far there have been 7 over the last 12 months.

For the prior 12 month period the following homes sold..
303 Lynwood for $220,000 on 8/28/2009.
176 Brentwood for $247,500 on 6/10/2009.
44 Arrowhead for $380,000 on 11/2/2009.
156 Poplar for $480,000 on 8/31/2009.
8073 Oak Run Drive sold for $350,000 on 3/17/2010.
16 Parkwood Circle sold for $457,500 on 3/12/2010.
170 Elmwood Court sold for $625,000 on 8/24/2009.

So as you can see, we've had two homes on the water sold so far in 2010. This would not include any homes that may have sold privately, but rather it includes everything that was listed for sale.

There is currently one house pending on the water, which is 8060 Oak Run Drive which was listed for $329,000.

For homes on the water, as of today there are 26 homes listed for sale on the water.

Under $300,000-1
$300K to $350K-1
$350K to $400K-9
$400K to $450K-3
$450K to $500K-6
$500K to $550K-1
$550K to $600K-3
$600K to $700K-1
Over $700K-1

Ok...the home buying tax credit has ended...now what?

This is the million dollar question. There are a lot of people out there that are saying that any increase in homes sales this early in 2010 is due purely to the tax credits that ran out on April 30th, that buyers that would have normally bought this summer have now already bought and we are in for a pull back of sorts.
I don't think this is entirely true. I think that we did see an increase in the numbers (over 50% for the Maloof organization for the first 1/4 of 2010) that was fueled by a decent percentage by the tax credits. For Jennifer and I, for the first quarter, we've been just as busy on the home buying front as we have the home listing front. We currently have more homes for sale now than we ever have in our career, but the number of homes that are pending is also up considerably, so 2010 is starting off with a bang. I believe this will continue to a great or lesser degree for the rest of 2010. Caterpillar has announced much better than expected returns and as the old saying goes, "So goes Caterpillar, so goes the rest of the Peoria area".
We are working with a lot of people that are coming in from outside of the area not just with Caterpillar however, but with the medical community and other segments of our local economy. There is still a lot of conservatism in the market, but I think things are on the right path.

The Oak Run area continues to be a secondary home market for a lot of the homes on the water, and that market has continued to be a little more soft that the others. The number of homes on the market right now in Oak Run on the water is up considerably, not just with new homes coming on the market but with a lot of homes being held over from last year that have not sold. There are some great buys out there and for someone that is considering whether or not to be a jump into this market, now is a great time!


We haven't had a regular post in a while and that perhaps is because of the stimulus package for tax credits that has been out there has kept us a little too busy to be an active blogger lately...sorry about that. :) The last few days we've seen a little pull back and it has been nice to get caught up in the business of the business and we'll get right back into posting some of the latest updates on the market!