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2 Pantagraph HOME MARKET, Friday, May 25, 2012 www.PantagraphHomeMarket.com ADVERTISER INDEX FROM THE COVER Century 21 Aper Realty 2409 E. Washington, Suite B, Bloomington, 309-664-4455 Coldwell Banker Heart of America REALTORS®, LTD 802 S. Eldorado Road, Bloomington, 309-662-9333 Keller Williams Realty 2206 Eastland Drive, Suite 101 Bloomington, IL 61704 309-834-3400 Mid Illini Credit Union 1811 Eastland Dr., Bloomington, (309) 661-1166 or 800-527-2205 Main Street Brokers & Associates 713 N. Main Street, Bloomington, 309-827-MSBA Mortgage Services III Bloomington, 309-664-9100 Prudential Snyder Real Estate 1 Brickyard Drive, Bloomington, 309/663- 7653 RE/MAX Choice 2203 Eastland Dr., Suite 1, Bloomington, 309-663-8571 Schrof Companies, Inc. Commercial 2303 E. Washington, Suite 5C, Bloomington, IL 309-662-3200 1201 Broadway, Normal $429,000 Pillsbury Designed, Built in 1917 Open Friday 4:30-7:00 Your chance to Own one of Bloomington-Normal’s finest Art’s & Craft’s Home. Designed by Arthur Pillsbury and Built in 1917 this fine all brick homes rests on a beautiful 150 X 145 Corner Lot with Circle Drive. Large Front walk welcomes guests upon arrival and they are greeted by a spectacular front porch that offers its owner a great place to entertain Guests. As one enters you’re greeted by beautiful front door with beveled glass and air lock entry with tile flooring. Terrific hardwood floors, Custom crown molding with frame rail, original light fixtures. In the foyer your greeted by a beautiful Turn staircase and railing. Enter the Living room measuring 31 x 15 with wood burning fireplace, crown molding with frame rail. 9 1/2’ Ceilings on Main Level. The Arts & Crafts windows make this room one you’ll love to entertain in and call Home! “Dinner is Served” will be a fun statement in this wonderful Formal Dining room with beamed ceiling, original chandelier and 2 sets of French doors. The updated kitchen with newer cabinets, granite, Heated Tile flooring, Stainless appliances make cooking a joy. Main level also offers a den with original bookcases. For products and services helpful to you in your home buying and selling, please refer to the advertisers throughout Home Market and in our Home Market Directory. Wonderful 2nd floor with 4 bedrooms and 2 1/2 baths. Turned staircase and large landing. Attractive Master with adjoining office or nursery. Lots of windows and great views from every window in this home. Back staircase is handy and it leads up to a terrific ballroom attic that can be finished for game room or bedrooms. 309-829-9000 ext. 359 Home Market magazine is a regular Friday publication of The Pantagraph Advertising Department. Copyright 2012. The Pantagraph. Publisher’s Notice: All real estate advertised herein is subject to the Federal Fair Housing Act of 1968 which makes it illegal to advertise “any preference, limitations, or discrimination based on race, color, religion, sex, or national origin, or intention to make special preference, limitations, or discrimination.” We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis. This home is all brick and has a central air, newer roof, 2 car garage and circle drive. Well manicured flower gardens, fenced rear yard and lots of trees makes sitting on the rear patio something you’ll enjoy. Make your appointment with AL Legg today to call this One of a Kind Arts & Crafts home yours!! Call 531-2177 today! Offered at $429,000 Call Al Legg 531-2177 36 Years Experience #1 Individual Sales Agent 2011 & 2010 For ALL of Illinois/St. Louis Region Email: al@allegg.com Each Office Independently Owned and Operated. 892501
www.PantagraphHomeMarket.com Pantagraph HOME MARKET, Friday, May 25, 2012 3 CALCULATE THE COSTS TO BUY A HOME You spend a lot of cash when you buy a home. The down payment for your mortgage is only one expense. There are other outlays: appraisal, inspection, deposit, cash reserves and more. The costs add up. “How much cash you’ll need depends a lot on the size of your home purchase and how much you intend to finance,” says Tim Ross, president and CEO of Ross Mortgage, based in Royal Oak, Mich. Here are other expenses homebuyers incur (and have to save up for). Earnest money deposit. Hopeful buyers need to be prepared with cash for a deposit to attach to their purchase offer. The amount of the deposit varies, depending on local custom, the amount of your down payment and size of your home purchase. Ross says deposits can range from a flat fee of $500 to 1 percent or even up to 5 percent of the purchase price. An experienced Realtor can advise you on how much to offer. Home inspection. “Every buyer Michele Lerner Bankrate.com should have a home inspection, usually within 10 to 15 days after the contract is approved,” says Dyan Pithers, a sales associate with Coldwell Banker Residential Brokerage in Tampa, Fla. Costs vary; Pithers says the home inspection can set you back $325 or more. In Bankrate.com’s annual closing costs survey, pest inspections (which are separate from home inspections) averaged $119 in 2011. If you are not on county or city water systems, a well inspection can cost $400, Pithers says. Appraisal. In Bankrate’s annual closing costs survey, the average appraisal cost a little more than $400 in 2011. Buyers sometimes pay for the appraisal when it takes place, and sometimes the fee is included in the closing costs paid on settlement day. Down payment. “While some low- to moderate-income borrowers can find low down payment programs and zero down payment programs, in general, most people need at least 3.5 percent of the purchase price as a down payment on (a Federal Housing Administration) loan,” says Michael Jablonski, executive vice president and retail production manager for BB&T Home Mortgage, based in Wilson, N.C. Veterans Affairs loans, available to veterans and active-duty military families, have no down payment requirements. “For conventional loans, a minimum down payment of 5 percent is acceptable for borrowers with excellent credit, but they will also have to pay private mortgage insurance,” Ross says. Some conventional loan and jumbo loan borrowers need to pay as much as 20 percent of the purchase price as a down payment. Mortgage origination fees and title insurance. Loan origination fees vary from lender to lender, and title insurance varies from location to location, so there’s no rule of thumb that applies everywhere. “Sometimes buyers can negotiate to have the sellers cover their closing costs, but it’s better to negotiate the home price first and then negotiate the closing cost assistance to make sure the sellers haven’t just inflated their price to cover closing costs,” Jablonski says. Ross says buyers should be careful to review their good faith estimate as soon as they receive it, so they have an idea of how much their mortgage origination fees and title insurance will cost. Moving costs. “How much moving costs depends a lot on how far you are moving,” Pithers says. “If you are moving nearby and have friends and family to help, it can cost almost nothing. But a long-distance move of a 2,000-square-foot home, including having the packing done for you, could cost $5,000 to $7,000.” Ross says the average moving cost is likely to be less than $1,000, especially if you are moving nearby. Necessary home purchases. If you are moving from an apartment to a single-family home, you may have to buy items such as a lawn mower, a snow shovel or window treatments. “You need to be careful to really weigh each item against your budget,” Jablonski says. “You don’t have to start with a top-of-the-line lawn mower, for example. It’s a great idea to do some research, and talk to people in the area where you are buying. See what they had to purchase right away, so you can budget for it.” Pithers says you may need to make deposits for utilities such as the water company or electric company, especially if you are moving from another locale. Cash reserves. “Lenders typically want you to have at least two house payments, including principal, interest, taxes and insurance, in the bank after the closing,” Ross says. Jablonski says it’s better to have six months’ mortgage payments in savings after closing. COMMERCIAL INVESTMENT PROPERTIES “Committed To Serving Your Commercial Real Estate Needs” Consulting - Site Selection - Development - Brokerage - Investments - Marketing Analysis www.SchrofCommercial.com 1072299 ★ FOR SALE COMMERCIAL LOTS, GOLDEN CENTRE, LEROY (Agent Interest-PRICES REDUCED!) .....................................CALL FOR SIZE AND PRICING ★ FOR LEASE - 1,000 sq. ft., 3703 Ireland Grove Road (Professional Office Space - South of State Farm) .................................................................. $18.00/sq. ft. ★ FOR LEASE - 1,055-1,400 sq. ft, 1531 Ft. Jesse Plaza (Retail/Office/Multi-Use-High Traffic Area - Could combine to 3,455 sq. ft.) ..........................PENDING ★ Office/Retail - 1,200-2,400 sq. ft., 510 IAA Drive. (Empire Plaza, Excellent eastside location - 2 Units available).................................................. $12.00/sq. ft. ★ FOR LEASE - 1,100 sq. ft., 321 Susan Drive (Executive Office Near Veteran’s) ........................................................................................................... $1,500/mo. ★ FOR LEASE - 1,200 sq. ft., 2424 East Lincoln (High Visibility to Veterans Parkway - Retail or Office Use) ................................................................. $1,500/mo. ★ FOR LEASE -1,260 sq. ft., 1319 Veterans Parkway (Professional space - Veteran’s exposure - High traffic area) .................................................................. CALL ★ FOR LEASE - 1,284 sq. ft., 1310 E. Empire, BL (Retail/Multi-use, High traffic area, free standing building) ........................................ REDUCED $1,250/mo. ★ FOR LEASE - 1,403 sq. ft., 211 Landmark Drive (Newly Refreshed Professional Space - Near Veteran’s Parkway) ................................................... $14.00/sq. ft. ★ For Lease - 1,440 sq. ft., 211 Landmark Drive (Excellent Professional Office - Near Veteran’s Parkway) .....................................................................$1,550/mo. ★ For Lease - 1,464 sq. ft., 211 Landmark Drive (Professional Office - Possible Retail Use) ........................................................................................ $14.00/sq. ft. ★ FOR SALE/LEASE - 1,760 sq. ft, 1604 Visa Drive (Former Dental Office, Reception/Open Area, Private Rooms) .................................................................... CALL ★ For Lease - 1,802 sq. ft., 112 Boyenkins (Professional Office - Veteran’s Exposure) ................................................................................................ $10.00/sq. ft. ★ For Lease - 2,000 sq. ft, Rt 9 West, (Warehouse with truck dock - 2 units available - Also 1300 sq. ft. at this location) ......................................... $8.00/sq. ft. ★ FOR LEASE - 2,200 sq. ft., 902 IAA Drive (1 block off Veteran’s-Possible Retail-Will Refresh) ................................................................................. $10.00/sq. ft. ★ For Lease - 2,500 sq. ft., 3703 Ireland Grove Road, (Prime Retail - With drive up window, Presently Coffee Shop - Many Uses) ......................................... CALL ★ For Lease - 3,025 sq. ft., 2303 E. Washington St., Prime Retail, corner of Veteran’s Parkway and Washington (Triple Net Lease) ......................... $12.00/sq. ft. ★ FOR LEASE - 3,349 sq. ft., 806 Four Seasons Road (Multi-Use Building - Presently Day Care - FREE STANDING BUILDING) ................................................ CALL ★ FOR SALE - 3,600 sq. ft., I-55 & PK Keller Hwy., Lexington, IL (Insulated Building on 1.16 acres - Man Cave) ................................................................$252,000 ★ For Lease - 3,715 sq. ft., 2303 E. Washington (Prime Retail Space in strip center-Triple Net Lease-Veteran’s Exposure)........................................ $12.00/sq. ft. ★ FOR LEASE - 3,990 sq. ft., 703 N. Clinton, BL (Retail/Multi-Use, Full Basement, Free Standing Building) ................................................................ $12.00/sq. ft. ★ FOR LEASE - 5,400 SQ. FT., 1319 VETERANS PARKWAY (PROFESSIONAL OFFICE SPACE - WILL DIVIDE) ............................................................ $13.00/sq. ft. ★ FOR SALE - 1.27 Acres, Rt. 51 South (Great for commercial development).................................................................................................................... $180,000 ★ FOR SALE - 2.75 ACRES, CORNER OF IRELAND GROVE AND TULLIMORE (WILL DIVIDE, FAST GROWING EAST SIDE LOCATION) ..................... $7.00/SQ. FT. ★ FOR SALE OR LEASE - 12,400 SQ. FT., 2812 TRACTOR LANE, ON 5.29 ACRES, JUST OFF I-74 - EXCELLENT BUSINESS SITE .......................................CALL ★ INVESTMENT PROPERTY - 310 MCLEAN (Newly refreshed, 3 bedroom home - 1 1/2 baths - Near Downtown - Great Lease - Agent Int.) ........... $109,900 ★ FOR LEASE - 21,120 sq. ft., 1107 Croxton, Many Uses-Will Divide (3 phase-440 amp. service-Explosion proof drain) .................................$5.00/SQ. FT. ★ BUSINESS FOR SALE - 102 N. Center (Illinois Brewery/Pub, leasehold, includes FF&E and Inventory-Adjacent to Arena) ............ REDUCED $139,900 ★ FOR SALE - PROFITABLE OPERATING RESTAURANT - PRIME LOCATION - LEASEHOLD - PURCHASE FIXTURES & EQUIPMENT ............................. $209,900 ★ FOR SALE - COMMERCIAL LOT, 30,391 sq. ft., 2403 G.E. Road (Prime Location - Some engineering complete) .......................................... $6.50/SQ. FT. ★ FOR SALE - Commercial Lot, 1.4 Acres - 60,984 sq. ft., Just off I-55, Springfield, IL ................................................................................ $4.00/SQ. FT. GREG & CARL SCHROF SCHROF COMPANIES, INC. Commercial/Investment Division Registered Business Brokers • Member MBBI • (309) 825-0101 • (309) 825-0677 “Selling your business is our business.” 1071494
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