Tammy in the News

Our very own Tammy was featured in the St. Louis Post-Dispatch "Ask the Expert" spot!

We are so proud of her and want to take time out to say...Thank You Tammy for putting a positive spotlight on what we do!

If you didn't get a chance to catch it in the Post...we've got it right here!

Realtor and owner Tammy Mitchell Hines & Co.
618-281-4663 tammy@tammymitchellhines.com

Now that the housing market is rebounding, what is happening to home values?

There is much confusion when it comes to frequently used lingo about "value" in today's real estate market. Potential sellers think now might be the right time to put their home on the market because they have heard or read that the market is "up." But what does "up" really mean?

To a seller, it says that prices are up. But does this tell the full story? It depends. In most of this area, it means that the number of home sales is up. For example, in the Southwestern Illinois Regional Multiple Listing Service, which covers 11 counties, home sales are up 14 percent. The increase varies throughout this MLS area. For example, the number of home sales in Monroe County has jumped 41 percent, compared with 2009.

In the Southwestern Illinois Regional MLS, the average sales price is up 5 percent. The rise is the result of growing sales of more expensive homes. Put another way, home prices overall are stabilizing.

Still, an encouraging factor is that the average number of days on the market for a home to sell has dropped by 3 percent. That's another promising sign for sellers and a further indication that the housing market is improving.

Mortgage rates remain historically low and attractive home prices, despite the average rise this year, have helped restore affordability. The good news for sellers is that "up" means the current real estate climate in southwestern Illinois is encouraging more people to consider home ownership.