{"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_post_was_ever_published":false,"_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":""},"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":3652,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3652\/new-flexmls-system-is-a-bold-stride-into-the-twenty-first-century-for-phoenix-area-multiple-listings-service\/","url_meta":{"origin":845,"position":5},"title":"New FlexMLS system is a bold stride into the twenty-first century for Phoenix-area Multiple Listings Service","author":"Greg Swann","date":"August 2, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0New FlexMLS system is a bold stride into the twenty-first century for Phoenix-area Multiple Listings Service Metropolitan Phoenix got a brand new MLS system this week. MLS is the Multiple Listings Service, the system by which Realtors\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":[]}],"_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}]}}