Area home sales cool in third quarter

Home sales were off more than 10 percent in the third quarter from a year ago, which brought down year-to-date numbers, as well, according to the Peoria Area Association of Realtors.

Third quarter home sales were off 10.2 percent from the third quarter of 2015 pace while year-to-date sales are only down 2.2 percent, the association said in a news release Friday.

PAAR reported there were a total of 1,529 closed home sales in the third quarter, down from 1,703 reported in the third quarter of 2015. Year-to-date sales through September totaled 4,228, down from 4,324 sales reported through the first three quarters of 2015.

“It is not unusual for us to see a seasonal slowdown at this time of year. Demand has remained steady through the first three quarters of 2016, despite a slight reduction in inventory. The price range that tended to sell the quickest in September was the $125,000 to $175,000 range at 71 days,” said Jana Heffron, president of the Peoria Area Association of REALTORS®. 

The median home sale price for the Peoria area in the third quarter was $123,500, down just 1.1 percent from $124,900. The average sales price was $145,066, down 3.8 percent from $150,804 in the third quarter of 2015. The inventory of homes for sale was 2,976 in September, off 0.6 percent from 2,993 in September a year ago.

“Fall remains one of the best times to shop for and purchase a home. There is generally less competition from other buyers for available houses on the market and sellers may be ready to negotiate and eager to move their property before the holidays get here and winter sets in,” said Heffron.

“Some bright spots for home sale activity show East Peoria up 5.0 percent, Peoria Heights up 10.8 percent, Tazewell County up 0.9 percent, Edwards up 26.2 percent and Washington up 0.7 percent year-to-date. The city of Peoria home sales have remained relatively steady with sales down just 0.9 percent year-to-date with 1,214 home sales reported,” she said.

The average number days on market stood at 78 days in the third quarter; the same number of days reported in the third quarter of 2015. The month’s supply of inventory increased 4.6 percent to 6.8 months from 6.5 months in September 2015. 

“On a positive note as we move into the last quarter of the year, mortgage interest rates continue to remain very attractive to buyers at near record lows. But, they may not stay at these levels for long,” said Heffron.

“While the Peoria area economy continues to remain stable through our diversification in the employment sector, recent announcements regarding cutbacks by Caterpillar in this quarter may have tempered buying patterns not only in housing but in other areas. PAAR continues to work with local government, private and public organizations including elected officials to promote and expand a strong regional economy and to accentuate and attract the development of new businesses to our area. These integrated, pro-business partnerships are working to develop programs for the betterment of the Greater Peoria area. We are excited to be a part of these initiatives that continue to build upon collaborative efforts in our community.”

According to Freddie Mac, the average rate for a 30-year, conventional, fixed-rate mortgage was 3.46 percent in September, down from 3.89 percent in September 2015.

“While millennials and first time buyers continue to be a driving force in the market, the second largest share of buyers behind married couples in the residential real estate market is single female homebuyers that account for anywhere between 15 and 20 percent of all home purchases,” said Heffron. “The property type that gained the most inventory was the condo-townhouse attached segment that gained 5.4 percent in September. We are seeing a growing demand for construction of condo-townhouses that are attractive to all homebuyers be it first-time buyers, starter families or even individuals looking to downsize into smaller homes.”

According to Dr. Lawrence Yun, chief economist for the National Association of REALTORS®, “Very affordable mortgage rates and strong job gains among young adults should be translating into a higher rate of homeownership. It’s not, and a result, sales to first-time buyers remains stuck below a third of all sales.” In the latest NAR Housing Opportunities and Market Experience survey, there is a misconception about how much of a down payment is needed to buy which could be unnecessarily delaying some qualified young adults from entering the market.

“With the growing population of 85 million millennials who aspire to be homeowners, the availability and promotion of more mortgage and low downpayment options including additional inventory of homes to sell at entry level price ranges could help an increasing share of these renters achieve homeownership,” said Heffron.

The National Association of REALTORS® is predicting existing-home sales to reach 6 million in 2017, higher than its 5.8 million forecast for this year.

Peoria Area Association of REALTORS®
3^rd Quarter Home Sales, Average & Median Prices

Annual Study Reveals This Year's Craziest Excuses for Calling in Sick

While calling in sick, when you are feeling just fine, is not a new phenomenon in the office, slightly fewer workers say they have done it over the last 12 months, according to a new CareerBuilder survey.

Slightly more than a third of workers (35 percent) said they have called in to work sick when they were feeling just fine, down from 38 percent last year.

More than 3,100 full-time workers and more than 2,500 full-time hiring and human resource managers (of which 2,379 are in the private sector) across industries participated in the nationwide survey, conducted online by Harris Poll on behalf of CareerBuilder from August 11 to September 7, 2016.

When asked why they called in sick when they were feeling well, 28 percent said they just didn't feel like going in to work and 27 percent took the day off to attend a doctor's appointment. Another 24 percent said they needed to just relax and 18 percent needed to catch up on sleep. Meanwhile, 11 percent took the day off to run personal errands.

The Craziest Excuses for Calling in Sick

When asked to share the most dubious excuses employees have given for calling in sick, employers reported hearing the following real-life examples:

• Employee said the ozone in the air flattened his tires.
• Employee's pressure cooker had exploded and scared her sister, so she had to stay home.
• Employee had to attend the funeral of his wife's cousin's pet because he was an uncle and pallbearer.
• Employee was blocked in by police raiding her home.
• Employee had to testify against a drug dealer and the dealer's friend mugged him.
• Employee said her roots were showing and she had to keep her hair appointment because she looked like a mess.
• Employee ate cat food instead of tuna and was deathly ill.
• Employee said she wasn't sick but her llama was.
• Employee had used a hair remover under her arms and had chemical burns as a result. She couldn't put her arms down by her sides because to that.
• Employee was bowling the game of his life and couldn't make it to work.
• Employee was experiencing traumatic stress from a large spider found in her home. She had to stay home to deal with the spider.
• Employee said he had better things to do.
• Employee ate too much birthday cake.
• Employee was bit by a duck.

Caught in the Act

Though the majority of employers (67 percent) give their employees the benefit of the doubt, 33 percent say they have checked to see if an employee was telling the truth in one way or another, on par with last year. Among employers who have checked up on an employee who called in sick, asking to see a doctor's note was the most popular way to find out if the absence was legit (68 percent), followed by calling the employee (43 percent). As many as 18 percent of employers went the extra mile and drove past the employee's house.

More than 1 in 5 employers (22 percent) say they have fired an employee for calling in sick with a fake excuse, on par with last year.

Be Careful What You Post

Some workers have inadvertently busted themselves online. More than a third of employers (34 percent) have caught an employee lying about being sick by checking social media. Of those, 27 percent have actually fired the employee, but 55 percent were more forgiving, only reprimanding the employee for the lie.

Not a Day to Waste

Not every employee feels like they can afford to take some time off, however. Nearly half of employees (47 percent) said they come into work when they're sick because they can't afford to miss a day of pay, and 60 percent come in because they're worried the work won't get done otherwise (both more common for women than men, 50 percent of women and 43 percent of men; and 62 percent of women and 57 percent of men, respectively). Further, 16 percent of employees said that while they have called in sick in the last year, they've had to work from home for at least part of the day, if not the whole day, while ill.

More than half of employees (53 percent) say they their company has PTO programs where sick days, vacation days and personal days are all lumped together, so employees can use their time off however they choose. Still, of employees who say that their company has those types of programs, more than a quarter (28 percent) still feel obligated to make up an excuse to take a day off. And, overall, 25 percent of employees said they never log every day they take off.

Tis the Season

According to employers, employees most often call in sick during the month of December (21 percent) followed by July (16 percent) and January (14 percent). The most popular day of the week to call in sick is Monday (48 percent) followed by Friday (26 percent).

Despite higher absentee rates during the holiday season, only 8 percent of employees say they have ever faked being sick during this time. Of those who have, most did it to spend time with family and friends (76 percent), while others wanted to holiday shop (12 percent) or decorate for the season (9 percent).

Community Foundation awards grants

The Community Foundation of Central Illinois announced Friday it will grant more than $130,000 to meet the needs of many community and women’s organizations in central Illinois.

The foundations’s Board of Directors approved 28 grant proposals during its 2016 Community Needs and Women’s Fund Success Grants funding cycles. 

The grants will support a wide range of local charitable needs and opportunities, including youth development initiatives, educational programs, transportation of food for local food banks and pantries, and workforce development projects.

The Women's Fund awarded 8 grant proposals for a total of $23,287 to support the efforts of area nonprofits to empower the lives of women and girls. 

The awards were made possible by 37 funds. These include unrestricted and field of interest endowments created with the intention of supporting various community needs. Grant awards were determined by a diverse group of volunteers, each with a knowledge base of different issues in our community today.

The CFCI Distribution Committee is amazingly thorough and thoughtful about each decision that is made, the orgnization said in a news release.  

“The Community Foundation is pleased to invest more than $130,000 in grant support for programs that are making a lasting impact on the lives of thousands of people in our communities,” said Mark Roberts, CEO of the Community Foundation of Central Illinois.

The following non-profit organizations were approved for funding:

Community Needs Grants-

American Red Cross of Central Illinois: $5,000 for: Disaster Services – Home Fire Relief

Carver Community Center: $5,000 for: After School Programs

Crittenton Centers: $5,000 for: Making Family Connections

EP!C: $5,000 for: EP!C HUB – “We Can Work Too”

Friends of Wildlife Prairie Park: 5,000 for: Work/Life Skill through Aviary Science Program

Glen Oak Christian Church: $7,000 for: Snack Packs

Heart of Illinois Harvest: $7,000 for: Transportation of Donated Food

Hult Center for Healthy Living: $11,000 for: Making Connections

Illinois Spina Bifida Assocation was awarded $2,500 for: Community-Clinic Connection

Look! It’s My Book: $5,000 for: Look! It’s My Book.

Midwest Food Bank, Peoria Division: $7,000 for: Perishable Food Program

Peoria Citizens Committee for Economic Opportunity (PCCEO): $8,000 for: Peoria Area Food Bank

Peoria Park District: $3,000 for ELITE Re-Entry Program

Peoria Playhouse Children’s Museum (of the Peoria Park District): $2,500 for: Celebrate Peoria

Peoria Public Schools Foundation: $1,000 for: Horizons Club

South Side Office of Concern: $3,000 for: Supportive Housing – Happy Homes Project

TASC, Inc.: $2,500 for: Smart Start

The Center for Prevention of Abuse: $11,000 for: Children’s Therapy – Domestic Violence

The gitm Foundation: $9,500 for: The Good Food Recovery Program

Camp Big Sky: $3,000 for: Living a Life Like Any Other

Women’s Fund Success Grants-

Crittenton Centers: $3,960 for: Partners In Prevention

Common Place Family Learning Center: $4,327 for: The Influential Women’s Group

Girl Scouts of Central Illinois: $1,000 for: Girl Scout Leadership Experience

Girls on the Run of Central Illinois: $2,500 for: Peoria Heart & Sole and GOTR Programs

Hult Center for Healthy Living: $5,000 for: Youth Reproductive Education

Peoria High School: $1,000 for: Preparatory School of the Arts

The Center for Prevention of Abuse: $3,500 for: HARTS- Helping All Relationships to be Safe

The Sun Foundation: $2,000 for: Art & Science in the Woods Summer Program

The Evolution of Halloween: 3 Trends to Watch

By Allison Zeller

National Retail Federation

Unlike more traditional holidays, Halloween is less rooted and more flexible. Everything from who celebrates, how they celebrate and what they wear while celebrating is up for interpretation each year, keeping retailers on their toes.

 NRF’s research team recently looked at data from our annual survey conducted by Prosper Insights to identify three shifts in consumer behavior that retailers will want to keep an eye on:   

Halloween is no longer just for the kids and those with kids

Millennial consumers (ages 18-34) are now the most likely of all adult generations to participate in Halloween. They’re also one of the top spenders on Halloween costumes, spending an average $42.39 compared with $31.03 for all adults. This cohort has big plans for those costumes too: their intent to attend parties is up 10.9 percent from 2006. 

So what’s with the sudden interest in this holiday? It could be social media. A decade ago, a partygoer could get away with showing up without a costume and nobody would know except the people in the room. In 2016, consumers have ideas and tutorials at their fingertips.

Nearly three in 10 adults ages 18-34 (28.4 percent) turn to Pinterest and 23.3 percent turn to YouTube for costume inspiration. Interestingly, men and women are finding their inspiration in different ways. Women are more than twice as likely to be influenced by Pinterest, while men are over 50 percent more likely than women to use YouTube.

In the era of Facebook, Instagram and Snapchat, there is no hiding a bad costume — and a clever costume makes for a buzzworthy addition to digital timelines. Retailers can be a part of the action by helping consumers find everything they need to enjoy a seasonal party. For retail Halloween inspiration,

Trick-or-treating isn’t what it used to be

The number of families planning to head out door-to-door for this tradition is up slightly from last year but still not as high as a few years back. In fact, 2016 represents the second-lowest reading for trick-or-treating (29.7 percent). This is not due to lack of celebrating, though. Community events such as parking lot “Trunk-or-Treating” and Halloween festivals are popping up across the country as alternative options. With concerns over food ingredients like sugar, gluten and nuts — and the general fear of taking candy from strangers — it’s not surprising to see parents looking for safer celebrations.

Retail stores are central gathering places in many communities and would be a natural fit for hosting, sponsoring or participating in Halloween events. With plans to dress up at the highest level ever (47 percent), hosting costume fashion shows or contests could also be an opportunity to connect with customers.

The number of people planning to carve a pumpkin (45.5 percent) and visit haunted houses (20.9 percent) is also up, indicating that enthusiasm for candy might be fizzling in favor of experiences and events.  

Kids can (and will) be anything they want to be

NRF’s annual “Top Costumes” survey doesn’t divide rankings by gender, but with a recent shift from “princess” to “superhero” as the top costume, there’s reason to believe that both boys and girls are influencing the trend. From Star Wars’ Rey to the Supergirl television series to an upcoming reboot of Wonder Woman, pop culture is providing girls with plenty of action hero inspiration.

A shift toward gender-neutral styles has reached children’s clothing and children’s toys to the point that pet owners are wondering if their dog and cat costumes are sexist. With children’s costume spending expected to reach an all-time high of $1.17 billion and 16 percent of consumers planning to dress up their pets, retailers should remain sensitive to gender stereotypes, noting that parents and pet owners will be as well.