Real Estate Appreciation for Bloomington Normal, Illinios: + 13.26%
Appreciation for MSAs:.
Let's start by comparing Bloomington Normal, Illinios to the rest of the state. This will give us an idea if the appreciation here was isolated or happened across the state.
We have appreciattion of + 13.26% (+ 3.31% yearly) for the Bloomington Normal, Illinios MSA.
The entire state of IL had + 32.43% appreciation (+ 8.11% yearly).
The state average for Illinios was higher than the real estate appreciation in the Bloomington Normal, Illinios MSA. This means the conditions in the MSA for real estate investment were worse by +144.57%.
Bloomington-Normal-IL
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 2002 | 2 | 126.86 | + 0.72% | + 2.89% |
| 2002 | 3 | 127.92 | + 0.84% | + 3.34% |
| 2002 | 4 | 128.96 | + 0.81% | + 3.25% |
| 2003 | 1 | 129.22 | + 0.20% | + 0.81% |
| 2003 | 2 | 129.92 | + 0.54% | + 2.17% |
| 2003 | 3 | 131.07 | + 0.89% | + 3.54% |
| 2003 | 4 | 133.13 | + 1.57% | + 6.29% |
| 2004 | 1 | 134.29 | + 0.87% | + 3.49% |
| 2004 | 2 | 135.47 | + 0.88% | + 3.51% |
| 2004 | 3 | 136.54 | + 0.79% | + 3.16% |
| 2004 | 4 | 139.16 | + 1.92% | + 7.68% |
| 2005 | 1 | 138.72 | - 0.32% | - 1.26% |
| 2005 | 2 | 141.88 | + 2.28% | + 9.11% |
| 2005 | 3 | 141.94 | + 0.04% | + 0.17% |
| 2005 | 4 | 142.65 | + 0.50% | + 2.00% |
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 $107,000.00 in 2002, you could multiply by + 13.26%, add the gain and see the home should be worth $121,187.38 in 2005. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Bloomington-Normal-IL from 2002 to 2005:
+ 3.31%
Appreciation Comparisons
Here are a some MSAs that didn't do so well, this can give you an idea of a worst case scenario:.
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