{"id":845,"date":"2007-01-03T19:05:36","date_gmt":"2007-01-04T02:05:36","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=845"},"modified":"2007-01-04T09:38:43","modified_gmt":"2007-01-04T16:38:43","slug":"the-frumpiest-little-dump-in-the-midwest-makes-news-again","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/845\/the-frumpiest-little-dump-in-the-midwest-makes-news-again\/","title":{"rendered":"The frumpiest little dump in the Midwest makes news again . . ."},"content":{"rendered":"

O, the ignominy! Danville, IL<\/a> is in the news again<\/a>…<\/p>\n

This time, my frowsy little fly-blown hometown amends its past notoriety as the cheapest-of-the-cheap housing markets by refusing to release its abysmal sales data at all:<\/p>\n

[T]he Danville Board of Realtors in Illinois has decided to withhold sales data from the National Association of Realtors trade group after the Danville metro area ranked as the lowest-price market in the nation during the second quarter of 2006.<\/p>\n

“We looked into it – all avenues of what we should do,” stated Debbie Borgwald, executive officer of the Danville board, in the article. “We want to let people know Danville is a great place to live.” She also told the newspaper that the low prices for the metro area had generated negative publicity.<\/p><\/blockquote>\n

I personally am only interested in rental homes that will appreciate in value. It’s nice to be cash-flow neutral or even mildly positive, but all the money from residential real estate investing comes from leveraged appreciation. An “alligator” in a growth market is the world’s most lovable pet.<\/p>\n

However… If you’re the kind of investor who likes to buy cheap dumps for the positive cash-flow that can accrue from providing affordable rental housing to motorcycle enthusiasts and tenants even less savory, by all means<\/i> go to Danville. You can pick up single-family homes for $20,000 or less. The rent might only be $300 or $350, but the houses will throw off positive cash-flow no matter how you finance them. Plenty to choose from, too…<\/p>\n","protected":false},"excerpt":{"rendered":"

O, the ignominy! Danville, IL is in the news again… This time, my frowsy little fly-blown hometown amends its past notoriety as the cheapest-of-the-cheap housing markets by refusing to release its abysmal sales data at all: [T]he Danville Board of Realtors in Illinois has decided to withhold sales data from the National Association of Realtors […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[8,6,5],"tags":[],"class_list":{"0":"post-845","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-investment","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":13,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13\/in-my-little-town\/","url_meta":{"origin":845,"position":0},"title":"In my little town…","author":"Odysseus","date":"November 19, 2005","format":false,"excerpt":"Business Week, asking where are the affordable homes?:The cheapest metro area in the Realtors' report was Danville, Ill., where the median price in the third quarter was $72,800 -- a level that's scarcely imaginable to people house-hunting in, say, San Diego, Miami, or Boston.I grew up in Danville, IL. It's\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8759,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8759\/why-i-read-ibsen\/","url_meta":{"origin":845,"position":1},"title":"Why I read Ibsen","author":"Greg Swann","date":"June 4, 2009","format":false,"excerpt":"[I grew up in a grimy little industrial town called Danville, Illinois. It wasn't until I was four years old that I stumbled onto an atlas and discovered why I had felt so much out of place from the day of my birth. I graduated from Danville High School two\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3898,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3898\/is-an-educational-session-a-sales-pitch-of-course-it-is\/","url_meta":{"origin":845,"position":2},"title":"Is An Educational Session A Sales Pitch? Of Course It Is.","author":"Brian Brady","date":"August 14, 2008","format":false,"excerpt":"I'm a salesman and have been since I hawked peanuts on the Ocean City boardwalk.\u00a0 I'm addicted to \"the pitch\".\u00a0 I love writing them, watching them, and critiquing them.\u00a0 Many people get upset when a \"trainer\" comes on to give an educational talk and finishes with an offer to buy\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1310,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1310\/open-letter-to-minneapolis-area-association-of-realtors-regards-rmls-ruling-13\/","url_meta":{"origin":845,"position":3},"title":"Open Letter to Minneapolis Area Association of Realtors Regards RMLS Ruling 13","author":"Russell Shaw","date":"April 16, 2007","format":false,"excerpt":"The following was sent to me by Steve Westmark. He was the very first agent interviewed by Howard Brinton for what is now known as Starpower. He is a very nice man, who spends a great deal of his time (and money) working for Habitat For Humanity. He and the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":366,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/366\/buyers-agency-at-new-home-subdivisions-there-is-an-immense-value-in-representation\/","url_meta":{"origin":845,"position":4},"title":"Buyer’s agency at new home subdivisions: “There is an immense value in representation . . . “","author":"Greg Swann","date":"September 22, 2006","format":false,"excerpt":"This is email I had from Joe Bourland, branch manager of a Century 21 office in Avondale, Arizona, objecting to my column in this morning's Republic. His arguments are not wrong, they're just beside the point. There is no possible doubt that a good buyer's agent will do a lot\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16976,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16976\/ask-the-broker-why-do-people-hate-realtors\/","url_meta":{"origin":845,"position":5},"title":"Ask the Broker: \u201cWhy do people hate Realtors?\u201d","author":"Greg Swann","date":"September 11, 2020","format":false,"excerpt":"The question is Cathleen\u2019s, and it really plagues her: \u201cWhy do people hate Realtors?\u201d It's funny, truly, because almost nobody hates his own Realtor. Some people have real horror stories to tell, but most people don't. To the contrary, most people have very happy, funny, charming stories to tell about\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/harmen-jelle-van-mourik-0yfWDwHOB0g-unsplash-1-480x319.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=845"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/845\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}