Long Term Real Estate Investments In Illinois

Real-Estate1Real Estate is one of the most defined, developed and ever expanding but volatile sector playing a major role in growth of economies. Even you might have dreamt of having your own property. In fact buying a home or a property is one of the biggest decision that a person takes in his life. That is because it can either prove to be a good investment or a bad one. And it is all due to the unpredictable nature of this very sector of Real Estate.

It is been a decade now since the horrible period of Real Estate Bubble in US and thankfully it has arisen from sombreness. The prices in last decade has shown a steep rise and if have fallen,fallen precipitously. Moreover the Experts are vouching for more 3% rise in prices in Real Estate sector this year.But it is not all positive, some markets are still suffering from drowning prices since the aftereffects of recession are receding but on a very slow rate. People who have lost all their money are slowly gaining their money back but still needs time to invest in Real Estate.

Exterior of home with 'for sale' sign in front yard

However how much you are well versed with the Real Estate market you can never ever predict perfectly of what will happen next.Sorry for we don’t have that Crystal Bowl which shows Future!

So is 2016 going to be the year when you buy your own property? Are you considering of making a long term real estate investments in our very own Illinois.So let us start by talking about a study in Jan 2014 where the US. Home Equity & underwater Report showed that Illinois was one of the top states whose properties were underwater. The conditions were such that even if the owner was to sell his property at full price it wouldn’t have been enough to cover his entire loan amount. However the conditions have slowly improved from then.

Today the Illinois Real Estate sales and prices have started climbing higher in December 2015 and has shown a scenario of more balanced and stable market. The year gain in 2015 is higher than 2014.So one can now expect a positivity in the real estate market of Illinois and can plan for long term real estate investment in Illinois. It is expected that the housing plan and sales forecast for year 2016 will be positive as 2015, but with a short termed forecast than in the previous year. So one can at least hope for making a long term real estate investment in Illinois.

How The Freezer Lobby Is Influencing Real Estate In Illinois

Building in a hand businessmen

Illinois was one the most stable states in America, as far as net profits and employments goes. However, in the last few years consequences of recession are still visible. Illinois still did not recover from recession completely.

There have also been some reports that Illinois lost most jobs in America during and after recession. Unemployment was close to country average, and many industries are suffering because of it. A lot of offices closed, and are now empty waiting for better times. There is also a lack of investors, since everyone is afraid of losing money. This has also affected real estate which now feels like it’s frozen in 10 cubic foot refrigerator.

Real estate industry has been having a hard time in the last couple of years. With unemployment rates and living expenses rising a lot of people could simply not afford to buy a house, apartment or rent office space.

1839_skyscraperOn the other side though, a lot of people wanted to sell it all to get some money. So real estate agents were left stuck with lots of houses to sell, and no buyers for them. Some agents claim the only way to survive is networking.

Although it might sound contradictory, to make money you need to spend money. Investing in conferences where you can meet new people, potential real estate partners or home owners, is a great way to spread your horizons. Working your absolute best is a must, because word of the mouth is very important. In this market your reputation is the only thing that keeps you going. Open houses were too expensive, so most agents simply asked for potential buyers to make an appointment. People that were really interested in buying a house would call, and when you did meet you really had a potential buyer.

Keeping up with your old buyer and sellers is always a great way to get an extra contract, or they even recommend you to their friend so you get an extra client. Those are some of the tips survived real estate agents share, as they hope 2016 will be a better year for this industry. 2015 was very slow, and made much less profit than originally expected. Buying and selling was still in pause mode. However, reports for January 2016 do look promising. The mild and short winter we had this year, helped in starting up new year successfully. People usually start buying homes around spring, and this year it was, metaphorically speaking, moved to January. Hopefully this trend will continue as 2016 progresses.

How to Increase Jobs in Southwest Illinois

manIn the past 3 years the rate of unemployment in Southwest Illinois has decreases from 9.6% to 6%. This has been in large part due to Illinois’ openness to new businesses. From infrastructure to transportation to incentives, the improvement in all these areas has resulted in an overall improvement in the standard of living. From housing to healthcare and the cost of living, Southwest Illinois will continue to see an increase in the standard of living if they keep raising their standards in these areas.

With continued improvements to roads, railways and ports, more businesses trade and investors, will be willing to come into the area if infrastructure allows for easy access and mobility. This includes buildings, sites and power supplies.

The different levels of transportation also contributes to how to increase jobs in southwest Illinois. This includes areas such as public transportation, rail transportation, highway transportation, water transportation and air transportation.
Though the counties link 3 highways and cover 122 miles, with the linking of more highways, various businesses will find it easier to access the area with more roads leading into it.

1438918233702Currently, the region boasts 40 rail lines going from its start point to all parts of North America. Like the highways, it also has 3 railroad lines that maximize accessibility for coal and other produce and passengers who could be tourists as well.
With America’s Central port 3 miles away from St. Louis, it provides a great port point for the shipment of goods and cargo. By creating more shipping routes and by offering more possibilities for trade and business opportunities, the region will be able to greatly benefit from access to this hub.

Currently, the region has 3 active airports – MidAmerica St. Louis Airport, St. Louis Downtown Airport and St. Louis Regional Airport. All 3 airports offer a way to bring in more cargo and goods, allowing the locals to import products that they can sell within their respective county lines. However, they are somewhat limited by few planes coming in and out and could bring in more cargo and goods by accepting international cargo that will expand the range of goods and services available in Southwest Illinois and ultimately, boost the overall quality of living.

Due to the fact that most people in the region drive, public transport – including bus and trains – are not as fully functioning as they should be. Though they are meant to specifically cater to tourists, it does not offer enough stops and stations at tourist hot-spots. By providing more stations and bus-stops with easy to read guides and maps, it will be able to bring in more tourists and thus, boost the overall economy of the region – giving local small to medium enterprises a chance to increase profits and develop.

With all these areas improved, the cost of living and job-count will increase rapidly.