Housing Market in Bloomington/Normal, IL (mortgage, refinance, foreclosure)

[Mac3]

My husband and I purchased a new home in Normal, IL about a year and a half ago. Well, long story short we are from the South. After living in Normal, IL for less than two years when a job offer in the South came up we took it to be closer to our family and friends. We placed the house on the market the end of July and still have not sold or had any offers. Anyone have any suggestions on how to get the place sold or what the housing market is like these days up there? We have the house priced at what we paid for it even with additional upgrades that we did not include in the price. We are ready to move on, but can't seem to do that for now.

[BUalumni]

Originally Posted by Mac3

My husband and I purchased a new home in Normal, IL about a year and a half ago. Well, long story short we are from the South. After living in Normal, IL for less than two years when a job offer in the South came up we took it to be closer to our family and friends. We placed the house on the market the end of July and still have not sold or had any offers. Anyone have any suggestions on how to get the place sold or what the housing market is like these days up there? We have the house priced at what we paid for it even with additional upgrades that we did not include in the price. We are ready to move on, but can't seem to do that for now.

This really suprises me! Usually new construction in Normal tends to go really fast. Is it a big house, or smaller. Most people that are moving into the area are looking for two story McMansions, not really one level ranches.

[shadow91]

I have a home in LaSalle county, can't sell it because of bad housing market, rent it out to great renters, but mortgage is $600 more than I can get for rent. This really bites, but in all reality, atleast I haven't lost my home due to foreclosure. I am hoping that the housing market takes off soon. The only good thing is I am able to refinance my home for 15 years instead of 30 with the same payment. You should live here in AZ, houses have been sitting empty for 2 years or more.

[ohjodi]

Originally Posted by Mac3

My husband and I purchased a new home in Normal, IL about a year and a half ago. Well, long story short we are from the South. After living in Normal, IL for less than two years when a job offer in the South came up we took it to be closer to our family and friends. We placed the house on the market the end of July and still have not sold or had any offers. Anyone have any suggestions on how to get the place sold or what the housing market is like these days up there? We have the house priced at what we paid for it even with additional upgrades that we did not include in the price. We are ready to move on, but can't seem to do that for now.

Home sales are down all over the country because of the sub-prime mortgage fiasco, and the general sluggish economy. A friend of mine has been trying to sell her 10-year old home in Bloomington since last June.

No real suggestions for you, just wanted to mention that slow home sales aren't the fault of the city in particular.

[Mac3]

Thanks everyone for you comments! We ended up packing up and coming back. I can't say I am too very thrilled about it, but our house is approaching 1 year on the market with no offers. It is a two story and not a ranch. Maybe this is just bigger than selling a house. Who knows?... Thanks again for all your responses!