Real Estate News
Local Housing Market
A Chance Encounter At An ATM Helped This Buyer Break Through A Brutal Rockford Real Estate Market
February 28, 2023 - Eva Marcial had given up on the local real estate market when a chance encounter at an ATM led to her landing a home she and her son had admired for years.
It was early November, and Mona Lindvall was at the same ATM at Chase Bank on Mulford Road picking up some cash to tip the movers who were helping her relocate to a bigger home in the city. The two had known each other for a handful of years, and as soon as Marcial learned Lindvall was moving she asked, “Well, where did you move from?” Lindvall said.
As it turns out, Lindvall lived in a home across from the Sinnissippi Golf Course that Marcial and her son, Hayden, 14, drove and walked their dog past for years. He would refer to it as “a castle.”
Rockford-area home sales off to slow start in 2023
March 1, 2023 - Even though the Rockford housing market is currently experiencing its usual winter slowdown, sales fell an abnormally high 40.4% in January from the previous year.
Rockford isn’t alone, however – sales across the state of Illinois fell 35.3% in January.
Market-wide home sales, including single-family homes and condominiums, in Winnebago, Boone and Ogle Counties, totaled 196 homes, down from 329 sold last January.
This was the lowest monthly total for homes sold in January dating back 13 years to 2011, when 160 homes were sold.
The January number of homes sold was the lowest total for any month also dating back to January 2011.
Owning a home vs renting an apartment has widest gap in 15 years
March 28, 2023 - Across the country, the cost of owning a home compared to renting has continued to rise. This continues the question of whether to buy or rent for most adults.
A Stillman Bank employee explained which option may be the most cost efficient in our area.
"Rental costs have increased dramatically as the price of homes have increased and as a result, occasionally sometimes prices people outside of a home," Patrick O'Gorman said. "I think we're blessed being in the Rockford market where homes are more affordable."
$10,000 assistance for home buyers through new Illinois program
June 17, 2023 - It’s been nearly a decade since the percentage of all-cash home purchases was this high, but you may not want to start stocking away savings in hopes of doing the same.
Real estate brokerage Redfin found that 33.4% of buyers opted for an all-cash deal in April, the highest that mark has been since 2014.
“All-cash purchases are making up a bigger portion of the homebuying pie for one major reason: Elevated mortgage rates are deterring homebuyers who take out mortgages more than they’re deterring all-cash buyers,” the study found. “Overall home sales were down 41% from a year earlier in April in the metros included in this analysis, compared with a 35% decline for all-cash sales.”
Rockford homes see highest prices ever
August 3, 2023 - In less than a decade, the average price of a home in the Rockford area has more than doubled.
Ten years ago, the average Rockford house would cost you $88,142 in March 2014 to $198,254 in June 2023.
The rise in house prices creates an increase in wealth for homeowners, however many buyers are running into some challenges with the high home prices.
“To say it's crazy is an understatement. The property prices have skyrocketed,” says Dimas Trujillo, Buyer Specialist with Keller Williams Realty Signature.
REALTORS® in the News
Young Professionals Network hosts fundraiser benefiting Family Peace Center
March 11, 2020 - 23 News Anchor Shannon Kelly had the chance to get behind the bar along with Mayor Tom Mcnamara for the Rockford area realtors Young Professionals Network celebrity bartending event. The main attraction was dare-aoke.
Rockford Area REALTORS® donate $10K to help local Family Peace Center
December 6, 2020 - The Young Professionals Network of the Rockford Area REALTORS® (RAR) showed its support this week for a project designed to help local survivors of domestic violence, sexual assault, child abuse, elder abuse and human trafficking.
Three local REALTOR® associations support their communities
August 14, 2020- Members of the Heartland REALTOR® Organization (HRO) of greater McHenry County, the REALTOR® Association of Northwestern Illinois (RANWIL) and the Rockford Area REALTORS® showed their community spirit in memorable ways during the COVID-19 pandemic.
As inspiration for their actions, the local associations drew from the RPAC Hearts for Healthcare Workers Challenge.
Rockford Area Realtors teams up with local food bank this holiday season
November 19, 2020- A group of Stateline realtors teamed up with the Northern Illinois Food Bank to ensure the community doesn't go hungry.
Rockford Area Realtors usually hosts an annual holiday event where people donate funds and the groups donate the money to a local non-profit. This year, because of the pandemic, it wasn't able to host the event.
Rockford Area Realtors contributes to Rebuilding Rockford campaign
January 21, 2021 - The Rockford Area Realtors presented a $10,000 check to the community-led Rebuilding Rockford Campaign to express support for the extension of a city of Rockford public roads and infrastructure referendum that will appear on the Consolidated Election ballot on Tuesday, February 23, 2021.
Rockford Area Realtors supports the community-led campaign with $10,000 to continue its efforts to educate voters on the extension of the 1 percent public roads and infrastructure sales tax.
REALTORS® partner with 23 local governments to pass fair housing resolutions during Fair Housing Month
April 2021 - From Belvidere to Belleville, local governments locked arms with local REALTORS® to pass fair housing resolutions during Fair Housing Month in 2021.
Each year, April is recognized by Congress as Fair Housing Month in the United States to commemorate the passage of the Fair Housing Act in 1968. This year, the Illinois REALTORS® encouraged the passage of fair housing proclamations by local government bodies across the state.
Boone County REALTORS® continue support of local real estate development with grant money
July 8, 2021- Boone County REALTORS®, a chapter of Rockford Area REALTORS®, gave a $2,500 grant to Growth Dimensions Economic Development for Belvidere & Boone County this summer.
The grant money is one of several contributions local REALTORS® have made to help bring commercial and residential development to the area, according to Illinois REALTORS® Local Governmental Affairs Director Neeley Erickson. Boone County members have built strong relationships with Growth Dimensions, and Boone County REALTORS® President Christi Steines is a member of the Growth Dimensions Board of Directors.
Rockford Area Realtors raises money for Miss Carly’s through Epic Water Battle
July 22, 2021- An epic battle took place in Rockford on Thursday...an epic water battle, that is.
It was held by Rockford Area Realtors at Sportscore One. Teams could sign up and compete against each other by trying to throw as many water balloons as possible into buckets in three minutes. The event aimed to raise money for Miss Carly's. The group provides food, shelter and supplies for homeless people in Rockford as well as helps people struggling with poverty and drug addiction.
‘For Everyone To Enjoy’: New Deck Overlooks Levings Lake In Rockford
November 3, 2021 - A new deck overlooking the banks of Levings Lake will give park-goers a place to relax, picnic or watch the action at West Rock Wake Park.
Members of the Rockford Area Association of Realtors put some of the finishing touches on the project Wednesday by planting a pair of trees near the park’s entrance at 1420 Pierpont Ave.
The Realtors provided a $5,000 grant to help cover the cost of building the composite wood deck, which replaces picnic benches that rested in a sandy bank of the lake that had once served as a beach.
REALTORS® show their support for Rockford by securing $12.1K for three park district projects
November 5, 2021- After raising funds to help the Rockford Park District with a portable fitness project for local youths, the Rockford Area REALTORS® (RAR) are using their influence to help the park district develop one park and improve another one.
First, RAR applied for and secured a $1,500 National Association of REALTORS® (NAR) Placemaking Level 1 Grant and added $150 of its own funds to support a Youth Fitness Pop-Up Park.
Over the course of nine days, park district volunteers used an empty lot next to Clarence Hicks Memorial Sports Park on the city’s southwest side to test the idea. Using signage to identify the activities and educate participants, volunteers led boys and girls in track and field activities and helped them safely use power fitness ropes, plyometric boxes and other exercise equipment.
Forest Hills baseball diamonds become spray soaker battleground