Real Estate Appreciation for Champaign Urbana, Illinios: + 23.29%
Appreciation for MSAs:.
The first way to get a handle on an areas appreciation for a period is to compare it to the rest of the state.
In this case Champaign Urbana, Illinios MSA appreciated + 23.29% (+ 5.82% yearly) for the period between 2001 and the end of 2004.
The state had + 28.44% total appreciation (+ 7.11% yearly).
The state average for Illinios was higher than the real estate appreciation in the Champaign Urbana, Illinios MSA. This shows that something happened in this area to cause it to underperform. If you can identify the cause during these years, you can learn to avoid it. The state appreaciated + 22.10% faster than this MSA.
Champaign-Urbana-IL
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 2001 | 2 | 130.54 | + 1.38% | + 5.53% |
| 2001 | 3 | 131.92 | + 1.06% | + 4.23% |
| 2001 | 4 | 133.47 | + 1.17% | + 4.70% |
| 2002 | 1 | 134.93 | + 1.09% | + 4.38% |
| 2002 | 2 | 137.01 | + 1.54% | + 6.17% |
| 2002 | 3 | 138.82 | + 1.32% | + 5.28% |
| 2002 | 4 | 139.28 | + 0.33% | + 1.33% |
| 2003 | 1 | 140.67 | + 1.00% | + 3.99% |
| 2003 | 2 | 142.76 | + 1.49% | + 5.94% |
| 2003 | 3 | 144.52 | + 1.23% | + 4.93% |
| 2003 | 4 | 148.83 | + 2.98% | + 11.93% |
| 2004 | 1 | 150.58 | + 1.18% | + 4.70% |
| 2004 | 2 | 152.67 | + 1.39% | + 5.55% |
| 2004 | 3 | 156.36 | + 2.42% | + 9.67% |
| 2004 | 4 | 158.75 | + 1.53% | + 6.11% |
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 Champaign-Urbana-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 Elliott, Illinios Refinance, or Elliott, Illinios Reverse Mortgages, you could estimate your home value.
If you knew your Elliott, Illinios home was worth $105,000.00 in 2001, you could multiply by + 23.29%, add the gain and see the home should be worth $129,455.96 in 2004. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Champaign-Urbana-IL from 2001 to 2004:
+ 5.82%
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: 60933 - ELLIOTT, IL
MSA Pop: 217320Zip Pop: 349
Avg Value: 64300
County: FORD
Elev: 790
Region: Midwest
Lat: 40.464155
Long: -88.274837