Real Estate Appreciation for Danville, Illinios: + 15.70%
Appreciation for MSAs:.
Comparing the real estate investment appreciation rates between a MSAs and their state can give you a lot of insight.
The Danville, Illinios MSA appreciated + 15.70% (+ 3.93% yearly) between 2003 and the end of 2006.
The state of IL had + 31.32% total appreciation (+ 7.83% yearly).
The state average for Illinios was higher than the real estate appreciation in the Danville, Illinios MSA. This means the conditions in the MSA for real estate investment were worse than the state as a whole. The state appreaciated + 99.48% faster than this MSA.
Danville-IL
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 2003 | 2 | 142.19 | + 0.89% | + 3.55% |
| 2003 | 3 | 142.47 | + 0.20% | + 0.79% |
| 2003 | 4 | 143.79 | + 0.93% | + 3.71% |
| 2004 | 1 | 145.3 | + 1.05% | + 4.20% |
| 2004 | 2 | 147.4 | + 1.45% | + 5.78% |
| 2004 | 3 | 144.35 | - 2.07% | - 8.28% |
| 2004 | 4 | 156.77 | + 8.60% | + 34.42% |
| 2005 | 1 | 147.33 | - 6.02% | - 24.09% |
| 2005 | 2 | 158.89 | + 7.85% | + 31.39% |
| 2005 | 3 | 157.47 | - 0.89% | - 3.57% |
| 2005 | 4 | 161.79 | + 2.74% | + 10.97% |
| 2006 | 1 | 160.86 | - 0.57% | - 2.30% |
| 2006 | 2 | 162.21 | + 0.84% | + 3.36% |
| 2006 | 3 | 168.24 | + 3.72% | + 14.87% |
| 2006 | 4 | 163.07 | - 3.07% | - 12.29% |
Now is a great time to buy and fix up real estate in many areas. Foreclosures are on the rise so there are deals to be had. If you are considering purchasing and rehabbing a property, appreciation rates are important to consider. If you feel like this is a good area to purchase foreclosure property for rehab, check out Hard Money Rehab Loan Information at Spec-Loan.com. Its important to do your homework before taking on any type of real estate purchase.
If you were going to do a Rankin, Illinios Refinance, or Rankin, Illinios Reverse Mortgages, you could estimate your home value.
If you knew your Rankin, Illinios home was worth $109,000.00 in 2003, you could multiply by + 15.70%, add the gain and see the home should be worth $126,114.87 in 2006. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Danville-IL from 2003 to 2006:
+ 3.93%
Appreciation Comparisons
The worst perfoming MSAs ever for a 4 year period, were Lafayette-LA, Grand-Junction-CO, Lafayette-LA, Casper-WY, and Casper-WY .
- Lafayette-LA lost - 34.71% from 1985 to 1988
- Grand-Junction-CO lost - 34.70% from 1982 thru 1985
- Lafayette-LA lost - 34.44% from 1984 thru 1987
- Casper-WY lost - 34.10% from 1983 thru 1986
- Casper-WY lost - 32.07% from 1984 thru 1987
The top 5 performing MSAs from 2003 to 2006 were Bakersfield-CA, Visalia-Porterville-CA, Madera-CA, Riverside-San-Bernardino-Ontario-CA, and Naples-Marco-Island-FL .
- Bakersfield-CA increased +110.89% from 2003 to the end of 2006
- Visalia-Porterville-CA increased +101.32% from 2003 to the end of 2006
- Madera-CA increased +100.36% from 2003 to the end of 2006
- Riverside-San-Bernardino-Ontario-CA increased +100.03% from 2003 to the end of 2006
- Naples-Marco-Island-FL increased + 99.23% from 2003 to the end of 2006
Zip Code in MSA: 60960 - RANKIN, IL
MSA Pop: 82804Zip Pop: 1108
Avg Value: 52500
County: VERMILION
Elev: 597
Region: Midwest
Lat: 40.463682
Long: -87.896365