Judge In Real Estate? Who Pays For Him to Run This RE Business and His Secretary to Collect Rents and Represent Him? The Tax Payer?
Apparently a judge in Philadelphia, a Willis W. Berry Jr. has been able to avoid prosecution for running a real estate business out of his chambers because the DA declined to prosecute. Apparently Berry has been suspended and asked to resign but has declined.
Who exactly pays Berry; isn't it the tax payers, I don't think they are paying him to do real estate? And who pays for him to have a secretary, yep I think it is again taxpayers and I am sure the Pennsylvania taxpayers don't pay to have this person manage the judges real estate.
According to the IOWA REALTOR BENCHMARK, Joan Ballantyne was awarded the L. Martin Political Involvement Award at the Convention by L. Martin Lee himself. The article mentions Joan's extensive service to the Association in the local, state and national levels. I would personally like to thank Joan for all her work and advice as a member of the United Counties Board of Realtors. Joan is a resource for issues and provides ideas and answers to relatively new Broker Owners like myself and to seasoned ones alike.
Joan, discovering your wisdom, your way with people and your understandings of how things work was a well spring and encouragement for me personally as a Broker Owner and Realtor. I can't speak for the entire board but I am in debt to you and admire your ability and wisdom in dealing with people, helping organizations function to the benefit of all members and to your willingness to step up and step in and to stay the course in the storms.
Thank you Joan
Georgia A. Weaver
Weaver LLC Realtors
113 Main St., Suite 3
Alta, Iowa 51002
Market Snapshot - Year To Date
Single Family Residential in Storm Lake and Alta
Total Available - 266
Sold - 159
Active - 107
Days on Market (DOM) - time from first listed until closed
and %L/SP (Percentage of Listing Price Received)
0 -31 days 31-60 days 61-90 days 91-120 days 120+ days
40 32 22 17 48
25.16% 20.13% 13.84% 10.69% 30.19%
96.63%LP 95.92%LP 96.29%LP 93.9%LP 94.42%LP
A big take away is that there are a number of properties available for sale, 107 today with Alta and Storm Lake addresses. Just over 25% sell within the first 31 days and at only 3.37% less than listed price. However if the property goes over 120 days (and over 30% stay on the market more than 4 months) it will bring nearly 6% less than listed price PLUS have an additional 3 months in mortgage payment, taxes, utilities and maintenance costs added to the cost.
Example - A List at 100,000
Sells and closes in 30 days at $99,630
A's Owner pays one months mortgage, utilites, taxes, insurance and maintenance (lets say $1,200)
TOTAL Received - $98,430
Example - B Lists at 100,000
Sells and closes at 122 days at $94,420
B's Owner pays 3 additional months of mortgage, utitities, taxes, insurance and maintenance (lets say $3,600)
TOTAL Received - $90,800
A CMA (competitive market analysis) is a vital tool when you want to sell, we do them for both Sellers and Buyers. The CMA tells us the range the property should sell in according the the previous 12 months real estate market. It also tells buyers where they should begin to offer on a property.
Call Me Today To See How I Can Make a Difference For YOU!
All the local real estate market data. Information and a chart for reference to the new 09 Home Buyer Tax Credit, a little information about our new company, a great recipe to help use up all that left over turkey, why we stage every home to some degree, all those letters behind my name, and what it is like being a realtor.
Send me some input if you get a chance to read it. Just click on the link at the right top of the page, "November NewsLetter".
Front page top right side
It is a good chart to have handy if you are looking to sell or buy, are a Realtor, banker, parent of kids looking to buy or parents looking to sell.
If you need real estate services please consider us, we are experienced, ethical, and posess great marketing and negotiaion skills. Our business is not like any other in the Storm Lake MLS area, call us to experience a very refreshing difference.
Expected office opening date is October 29th, 2009
Office Location is in ALTA!
My biggest goal, of course, is customer service like has never been experienced in this area. Stay tuned :)
Storm Lake MLS
Market Statistics -10/7/09
Available Residential Properties - 67 homes
Properties with offers -6
Sold in last 30 days - 8 homes
Available Residential Properties -16 homes
Properties with Offers - 0
Sold in last 30 days -6
Storm Lake Iowa and Alta Iowa properties are
listing and selling, our market is very strong. Information taken from the Storm LakeMLS.
Storm Lake MLS
Market Statistics - 9/30/09
Available Residential Properties - 60 homes
Properties with offers - 20
Sold in last 30 days - 8 homes
Available Residential Properties - 10 homes
Properties with Offers - 1
Sold in last 30 days - 5
Storm Lake and Alta real estate especially homes are listing and selling, waiting till "the market improves" DOES NOT APPLY to our market. I have a great investor property for a first time home or for someone who can do some improving for $54,000 on Main Street in Alta!
A personal note, I am not just a Realtor, my husband and I are real estate investors too and we are buying property, we just sold an investment property to a first time home buyer (Congratulations Ali on getting into your first home and qualifying for the tax credit).
Information taken from the Storm Lake MLS.
Storm Lake MLS
Market Statistics - 9/23/09
Available Residential Properties - 61 homes
Properties with offers - 9
Sold in last 30 days - 15 homes
Available Residential Properties - 15 homes
Properties with Offers - 2
Sold in last 30 days - 8
Storm Lake and Alta properties are listing and selling, waiting till "the market improves" DOES NOT APPLY to our market. Personally as a real estate investor, I am buying and selling. 4 Closings this month so far, I have 5 scheduled!
No sidewalks is a big problem, we are in northwest Iowa, we get a lot of snow and many children still walk to school. What about the very small children who ride on toys in front of homes, where are they suppose to go - the street? Groups of women walk for exercise in the early evening, older couples walk in the mornings, walking in the street is not safe at any age. Remember last winter's ice, I do, my car hit another because it wouldn't stop and no I was not speeding. When I got out I nearly fell down because the street was so icy. I hope to be talking to the Alta City Council October 5th about this, if you have an opinion please comment or come to the meeting.
The impact of the changes for someone with good credit could be a slight increase in score, if you have some problems your score could drop. Small collections under $100do not count on your score, and some late payments will not hurt you as much if you have other accounts that are current. Like the old system a lot of late payments will drop your score.
As a Realtor I see a lot of credit scores that need work, the way to keep your score in good shape, check your reports at least once a year and twice is best. Pay all bills at least on time and at best early. Do not carry a lot of debt, if you can't pay off a credit card DON'T use credit until you can. Inability to pay off credit cards monthly is a big red flag that you are living over your means and when you do that you are headed for trouble.
Watch for a change in your credit card billing the end of February 2010, and already in effect banks can not give you less than 45 days notice if your interest rates are to change and all credit card statements must be mailed to you at least 21 days before your payment is due.
Posted: Thursday, September 17, 2009 - 64 comment(s) [ Comment ] - 0 trackback(s) [ Trackback ]
There is legislation in both the Senate and the House that would expand the tax credit. A proposal by Sen. Johnny Isakson, R-Ga., would raise the credit amount to a maximum of $15,000 for any buyer of any home over the next year. It would remove the income caps that currently apply (those limits are now $75,000 for an individual and $150,000 on couples).
"I think we've got a realistic chance of doing this," Isakson says. "Our problem is not with the first-time home buyer, it's the move-up buyer."
Lawrence Yun, chief economist at NAR, says extending or raising the tax credit would spur the housing recovery, which in turn would help bolster the economy.
It is not too late to qualify for the first time home buyers tax credit, call me to take a look at this rural home.
This property is located in the Storm Lake Iowa area, just off Highway 7. Storm Lake Iowa is a great area that has a destination part, King's Pointe, a recreational lake, shopping, http://www.bvu.edu/, Buena Vista Regional Hospital, The Pilot Tribune newspaper and the Storm Lake Times Newspaper, a community calendar
Veterans were front and center in the parade and standing applause was given to each parade entry featuring the military. A new group interestingly named the TEA Party (Taxed Enough Already)had an entry. The TEA party consists of people protesting the massive spending programs started by the Obama whitehouse. Several links to them: Tax Day Tea Party and Societism.org
Summer is finally here, heat, sun and wind. Oh well, it could be winter. Thanks for checking out the update. Check back a new market report is coming, and news on closing costs and loan fee transparancy.
Have a good week!!!
The governor vetoed a one year delay in the implementation of the septic tank inspection law. As of July 1 THIS YEAR, all septic tanks, unless exempt, will be required to be inspected and not present an unsanitary condition prior to the county allowing or recording transfer of title.
Alert your sellers and buyers on this new requirement!
If a property closes after June 30, this regulation will be effective.
Any questions may be directed to:
Mr.. Daniel Olson, R.S.
Environmental Specialist Senior
Onsite Wastewater Program
Iowa Dept. of Natural Resources
502 E. 9th Street
Des Moines, Iowa 50319-0034
Key provisions of the code (IA Code section 455B.172) ---
Certified inspection report must be filed with the county, or in the event weather or other temporary conditions prevent inspection, buyer must bind themselves to conduct an inspection at a practical time and be responsible for any required modifications to the septic system.
Know exempt properties, most of the type of transfers exempt under the property disclosure law are also exempt for the inspection law, including court ordered transfers, foreclosures, bank repossessions, estates, guardianships, conservatorship and trusts, joint tenants or tenants in common, intra-family transfers, between divorcing individuals, and properties intended to be demolished or razed.
If the owner can provide documentation of the tank being properly pumped within three (3) years prior to inspection by a commercial septic tank cleaner licensed by the DNR, as long as it includes the size, condition and its components- it would be exempt from inspection.
If the tank is failing or improperly functioning, it shall be renovated to meet current construction standards. the costs and responsibility shall be paid by either the seller, or within a time frame set by the county or DNR, the buyer.
If, after inspection, the system is found to be properly treating wastewater and not creating an unsanitary condition, the system is not required to meet current construction standards.
An inspection is valid for two (2) years for any ownership transfers during that period. Abstracts for properties with septic tanks shall include documentation of the requirements of this law.
Link to the Iowa Code
http://coolice.legis.state.ia.us/Cool-ICE/default.asp?Category=BillInfo&Service=Billbook&ga=82&menu=text&hbill=SF261 Detailed administrative rules enacted by the DNR -
1) You need an Adjusted Gross Income (AGI) of less than $150,000 - how do you know that? If your combined income (spouse and you) is less than $150,000 you qualify it your combined income is over $150,000 call your tax advisor, they will know!
2) Have you and your spouse owner a home in the past 36 months?
3) Do you plan to stay in residence for at least 3 years?
If you answer yes to all the above questions, now is the time to buy!
Why should you buy now other than to take advantage of the up to $8,000 tax credit?
Interest rates are lower than they have been for the last 50 years.
Many homes are on the market - a lot of very good deals out there!
You've heard buy low and sell high - well it's the same for real estate, in many areas inventory is up and prices are down. Many good buys are available, in our area. You may qualify for up to $8,000 in tax credit - that's just icing.
How does the tax credit work - a tax credit is not a tax deduction. This specific tax credit does not reduce income that is subject to tax - that is a tax deduction, it is a dollar for dollar reduction in tax liability. An example of how these differ is an $8,000 tax deduction would result in a $2,240 tax savings for a 28 percent taxpayer. But, an $8,000 tax credit would result in $8,000 in tax savings for the same 28percent taxpayer.
Still have questions, please call me 712-574-5426 and I will walk you through it. Now is not the time to sit on the fence if you qualify for this tax credit, it is scheduled to be gone on December 1, 2009. That means you have to have the property closed by that date.
source Pat Zaby, CRS, CCIM, speaker at 2009 IAR Annual Convention. www.patzaby.com
Check out this beautiful large home in Alta, construction is nearly complete on this 4 bedroom 2 and a half bath home. If you are a first time home buyer call me to see if you can take advantage of the new Tax Credit, this home also has a tax abatement for 2 years, high efficiency furnace and energy star appliances. The master suite is on the main level as is the laundry, the additional 3 bedrooms are on the second floor. A new deck is located just off the large living room and is very handy for entertaining. The home has a warm open and feeling and it is wonderfully designed for either a family or a single who entertains.
Call me Georgia Weaver at 712-574-5426 to see this home or email me at Georgia@SLRealtyCheck.com
The kitchen is the heart of the home and many people are looking for open spaces that can be used for entertaining and cooking. How does your home compare with the top 5 items consumers want?
The keys to a desirable kitchen are ease of use, good quality cabinetry, flooring, appliances, counter tops, adequate storage, and a presentation of the space that allows the buyer to "see" themselves in the space cooking and entertaining.
Top 5 Bathroom Features Consumers Want Today
#1 - Linen Closet - 89%
#2 - Exhaust Fan - 88%
#3 and #4 - Separate Shower Enclosure and Water Temperature Control - 79%
#5 Wirlpool Tub - 66%
How does your house stack up; if you have any questions or are thinking about adding some of these items call me to see if it will halp you sell and what percentage you can expect to recoup from the project. Georgia Weaver 712-574-5426.
Check out my new listing, commercial property located on Lake Ave. in Storm Lake, Iowa. Great income and an increase in income potential is very real. Established reatil store on main level, 2 apartments on second level, and a full basement. The second level could be expanded into 3 possibly 4 apartments for an increase in income. Go to http://www.slrealtycheck.com/listings.html to see it as a featured property. Call me for a tour and for additional information. 712-574-5426.
Is anyone else out there concerned that we (Americans) are rewarding unscrupulous business practices. We are paying to keep banks afloat that simply made very poor, greed motivated loans to thousands of consumers that also made very poor greed motivated decisions? Not to mention the Golden parachutes or the other upper management compensation packages the average Joe is paying for.
I don't think the American public (Tax Payers) should be bailing out banks - depositor's yes, but the owners of the banks who are in a big part responsible for this mess, no. Let the banks fail, the depositor's can get their money through the FDIC. If these poorly managed and obviously poorly or not at all supervised banks fail - guess what - there will be new business opportunities for new banks to form. Hopefully, the "new" banks will have learned from the current banks mistakes and greed. I believe the banks that perpetrated these bad loans and didn't check borrowers credentials should go under, if we reward them and keep the in business, it will happen again. In fact, take a look back in history when a lot of savings and loans did fail, what was that the 70's? What is going to happen to those who didn't make bad greed based decisions - they will pay for the others who did. How, higher interest rates for home mortgages, higher taxes, inflation - sounds a little like socialism to me.
I may be mistaken but I always thought the strength of our country was in part based on the fact that competition made businesses and our economy stronger and benefited the consumer.
The auto industry is another HUGE failure, why did it take the Toyota Prius to get the the American auto makers off their butts. I guess I am suppose to believe that our auto makers aren't as smart or innovative as the auto makers in other countries, Or maybe it has something to do with ties to big oil. I know we have and have had for some time the ability to produce autos that get great gas mileage, are less expensive, are better for the environment and run on various fuels or are electric. Why should I pay to help a dinosaur stay in business when that dinosaur has already demonstrated it is not committed to be a viable business and industry? It pays to know history, if we ignore history all we will do is repeat it until the Great Country of America utterly fails. I say the Great Country of America with a lot of reverence, I love our country but it breaks my heart and really makes me angry to see the mass destruction and decay that has occurred just in my short life time.
Interested in the NAR's take on the First-Time Home buyers Tax Credit, click the title to go to the chart that includes current changes. Many home buyers will qualify, if you purchased a home after April 9, 2008 check out the terms to see if you qualify for the credit.
What kind do you have; are you sure?
I recently helped a client who wanted to purchase a duplex, the client insisted on using a particular lender because the lender "took care of everything last time", and they had already talked to this lender and the lender had told them this new property would be no problem.
I like to shop my buyer's good faith estimates around to our local financial institutions just making sure they get the best deal. Why, because as the survey above points out, people don't get mortgages often, they don't understand terms, and additionally as a Realtor I believe it is a service I can and should provide. The mortgage on the previous duplex had some red flags, the payment didn't match the "terms" the client said they had (payment amount too low to pay off the loan in the stated time period, loan was a fixed rate).
They brought the mortgage documents in to my office and guess what - it has a balloon! They were not happy, and once they understood they were barely paying on the principle they started looking for a local lender to refinance. But, they had obviously signed the documents- so what happened. Had they just forgotten; I don't think so but it is possible. What is more probable however is that they were intimidated by the jargon and the paperwork and just signed and initialed where they were told to.
Maybe you should pull out that paperwork and take a good look at it again, and if you are thinking about buying go on line and learn, learn, learn. Also, ask a person who should be very familiar with the various mortgage products and programs - your Realtor.