LakeReport: Number of Foreclosures Projected to Increase by 30% Over 2006

LakeReport: Number of Foreclosures Projected to Increase by 30% Over 2006

State of the Real Estate Market in Storm Lake and Alta Iowa

There's been a lot of negative press on real estate lately, foreclosures up, too much inventory, over building by contractors. The local market continues to be the exception to the rule. Storm Lake and Alta are still solidly in a Seller's market and as a realtor if I don't stay ahead of the market by the time a property list in the MLS (Multiple Listing Service)they already have accepted offers. If you are thinking of selling - Git er done!!!

Acreages are selling fast, but they should be in fairly good shape - including the out buildings. Ranches are the best sellers hands down in our area and have been for several years; the main reason is living on one floor. If you are thinking about building or remodeling keep this info in mind.

The latest rage in local real estate is staging - staging is having someone come in and set the house up like a display in a magazine or furniture store. Does it work, you bet it does! Staging can be done in an occupied home or a vacant one, it is especially successful in new construction and vacant homes. Staging can be done by a number of business or people, and yes there is normally a fee. The fee is usually based on the items used to stage the home and the time the items will be in place.

Storm Lake Properties sold in the last 30 days: 20
Address --- List Price--- Sale Price--- Days on Market

420 Lake Ave Condo D --- $99,900 --- $97,000 --- 522
710 Walnut --- $89,000 --- $80,000 --- 265
315 Lake Ave--- $159,000 --- $147,000 --- 268
123 Superior --- $30,000 --- $15,000 --- 192
111 Superior--- $59,900 --- $55,500--- 102
1516 Hyland Dr --- $69,900 --- $65,000--- 93
716 Barton--- $115,000 --- $110,000--- 58
617 Iowa St--- $137,750 --- $120,000--- 57
1109 Seneca--- $66,900 --- $61,500--- 63
813 Hyland Dr --- $65,900 --- $65,000--- 44
224 Oneida--- $32,500 --- $31,000--- 3
600 W 5th--- $38,000 --- $35,000--- 3
307 Superior--- $33,500 --- $31,000--- 3
602 Otsego--- $31,000 --- $30,000--- 3
112 N Emerald--- $145,000 --- $140,000--- 28
906 Highview Dr --- $116,000 --- $107,500--- 6
305 E 10th--- $93,500 --- $93,500--- 28
318 E. 10th--- $55,500 --- $52,000--- 10
217 Cayuga--- $105,000 --- $100,000--- 13
Price ---High $147,000 ----Low $15,000--- Average $75,579

Alta Properties sold in the last 30 days: 3
Address--- List price--- Sold Price--- Days on Market

802 W 2nd--- $279,000--- $230,000 --- 344
1306 Peterson St--- $198,000--- $190,000 --- 67
1310 Peterson St--- $153,900--- $150,000 --- 17
Price ---High $230,000 --- Low $150,000--- Average $190,000

Remodel Pictures - 4-Plex Alta Iowa

Finished Kitchen - New cabinet doors, hardware, paint, appliances etc... Scroll down for more pix!

Kitchen before new door, to new bedroom and bath

New doorway underway to new bedroom and bath

New bedroom and drywall lift looking into the kitchen

New bedroom looking into the new bath

New drywall on ceiling in 2nd bedroom

New paint, trim, door, light and fan in livingroom (and Spike's home away from home)

Spike our company mascot - come by and see me at the office at 106 W. Railroad Street, Storm Lake Iowa

If you want to discuss projects like this and how you can get into one give me a call 712-574-5426, or email me Georgia@SLRealtyCheck.com

4-Plex Project in Alta - 1st apartment RENTED!!!

Number one is complete, as usual we pushed it to the very last minute. Somehow I always budget enough time, plus some but we manage to use it all. Normally we would begin advertising about 30 days prior to completion, but these guys came in my office and needed just what we had. This apartment was never advertised and we try to secure tenants by word of mouth. They seem to be just plain better tenants when they are referred from someone we know - but the same rules apply to everyone. The tenants are now enjoying the new paint, new cabinet doors, added bedroom and bathroom, new dishwasher, new appliances, new lighting, new shower, new doors, and a lot more.
For me personally, I am glad it is done. Taking a week off and then on to demolition for number 2 and 3!

Check back for pictures, they will be posted asap.