As the seat of Madison County, the home of Southern Illinois University at Edwardsville and the site of an acclaimed school district, Edwardsville can give the impression of being out of reach to some home buyers.
Not so! There are a number of affordable homes on the market right now in Edwardsville.
Click here to see a list of homes for sale in Edwardsville priced between $100,000 and $150,000.
Some homes in the very lowest price ranges in any community may be listed as needing some "TLC," or "tender loving care." That's generally a kindly shorthand for "fixer-upper home." Many will require mostly cosmetic changes and some need more extensive repairs. Only you can decide how much effort you are able to afford -- in both time and cash -- to put into making an ugly ducking home look like a swan.
If one of these homes touches your buying button, we also can discuss a HUD 203K loan with your good, local lender. The 203K will allow you to rehabilitate the property and roll the money you need to restore the home right in to your home loan. Hud provides this extra money -- up to a $35,000 cap -- to help with neighborhood revitalization. Or, if you go outside of Edwardsville just a bit, you may qualify for a Rual Development Loan which allows 100 percent financing.
Don't forget that right now you also have an opportunity to take advantage of the up to $8,000 tax credit for first-time homebuyers if you are in contract on your first home by April 30, 2010. And if you're an existing owner, you may be able to claim a $6,500 tax credit if you make a move. Always ask your tax advisor for information specific to your circumstances.
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About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto, Granite City, Wood River, Godfrey and surrounding areas.
Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.
For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.
Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.
