Real Estate Appreciation for Bloomington Normal, Illinios: + 9.48%
Appreciation for MSAs:.
Before we disect the appreciation within the MSA for this period, lets consider how Bloomington Normal, Illinios did compared to the state as a whole.
The Bloomington Normal, Illinios MSA property value change was + 9.48% (+ 3.16% yearly).
All of the property in IL averaged + 10.75% change in value (+ 3.58% yearly).
Bloomington-Normal-IL
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 1997 | 2 | 108.23 | + 1.23% | + 4.90% |
| 1997 | 3 | 109.18 | + 0.88% | + 3.51% |
| 1997 | 4 | 110.7 | + 1.39% | + 5.57% |
| 1998 | 1 | 111.17 | + 0.42% | + 1.70% |
| 1998 | 2 | 111.78 | + 0.55% | + 2.19% |
| 1998 | 3 | 113.08 | + 1.16% | + 4.65% |
| 1998 | 4 | 113.71 | + 0.56% | + 2.23% |
| 1999 | 1 | 115.34 | + 1.43% | + 5.73% |
| 1999 | 2 | 116.2 | + 0.75% | + 2.98% |
| 1999 | 3 | 116.55 | + 0.30% | + 1.20% |
| 1999 | 4 | 117.06 | + 0.44% | + 1.75% |
Buying short sale properties is a real buzz right now in real estate. Short sales are created when a property is on the brink of foreclosure and the bank is willing to take a reduced payoff in order to avoid having to foreclose. If you are considering a short sale property chances are you will have to do some rehab and repair to the property. Its very important to analyze all of the historical appreciation data for the area if you are considering buying a property for investment. You can check our historical appreication data for Bloomington-Normal-IL here. If you do decide to move forward with rehabbing a property and need information on a Rehab Loan in Illinios, you can do some research at Spec-Loan.com.
If you were going to do a Bloomington, Illinios Refinance, or Bloomington, Illinios Reverse Mortgages, you could estimate your home value.
If you knew your Bloomington, Illinios home was worth $96,000.00 in 1997, you could multiply by + 9.48%, add the gain and see the home should be worth $105,104.38 in 1999. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Bloomington-Normal-IL from 1997 to 1999:
+ 3.16%
Appreciation Comparisons
For a 3 year period, the top 5 performing MSAs of all time are Bakersfield-CA, Visalia-Porterville-CA, Fort-Walton-Beach-Crestview-Destin-FL, Madera-CA, and Palm-Bay-Melbourne-Titusville-FL .
- Bakersfield-CA increased + 93.72% from 2003 thru 2005
- Visalia-Porterville-CA increased + 88.65% from 2003 thru 2005
- Fort-Walton-Beach-Crestview-Destin-FL increased + 87.85% from 2003 thru 2005
- Madera-CA increased + 85.39% from 2003 thru 2005
- Palm-Bay-Melbourne-Titusville-FL increased + 85.00% from 2003 thru 2005
Zip Code in MSA: 61701 - BLOOMINGTON, IL
MSA Pop: 156879Zip Pop: 37240
Avg Value: 87400
County: MCLEAN
Elev: 829
Region: Midwest
Lat: 40.47558
Long: -89.00472