Storm Lake Multiple Listing Service Market Report Year to Date

12/7/09 Storm Lake and Alta Homes For Sale!


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.

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Storm Lake IA MLS Weekly Real Estate Market Report

Weekly

Storm Lake MLS

Market Statistics -10/7/09


Storm Lake
Available Residential Properties - 67 homes

Properties with offers -6

Sold in last 30 days - 8 homes



Alta
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.

Weekly Storm Lake Iowa MLS Market Report

Weekly
Storm Lake MLS
Market Statistics - 9/23/09

Storm Lake
Available Residential Properties - 61 homes
Properties with offers - 9
Sold in last 30 days - 15 homes

Alta
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!

Storm Lake, Iowa - Star Spangled Spectacular

Hundreds of people converged on the parks, enjoyed the parade, food,fun and fireworks in Storm Lake, Iowa over the 4th of July. Lots of visitors came home with their families to experience a little taste of hometown. I saw people from Alta, Cherokee, Newell, Aurelia, Schaller, Spencer and a lot of out of state vehicles.
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!!!

10 Ways to Cut Costs in the Current Market

The headlines are all gloom and doom, I am tired of reading them and I'm tired of seeing all the political mud slinging. I am making my own good news that will just maybe help someone else have a better day. I love helping sellers, buyers and investors but I have found ways to reduce my costs and in the process maybe improve my health and improve my business.

Below are ways I am saving money in my life and in my business. Please add others you are using to get a better grasp of your budget.

1) No Chi Tea in the morning - saving about $11.00 a week

2) Cut eating out by 2/3 - my husband and I both work long hours and it seemed like eating out was a necessity. It isn't - approximate savings a week $80.00

3) Packing both of our lunches - eating better and saving about $65.00 a week

4) Caffeine boost of 2 sodas a day - healthier diet and saving about $50.00 a week

5) Planning my showings better to save gas. Unknown savings at this point but I drive a Toyota Solara and get about 24 miles to the gallon.

6) On days I do not have office appointments or floor time I work at home. I live about 4.5 miles from my office but I do go home to share my lunch (with a small buy mighty chihuahua named Spike) and then back. Round trip for a normal day about 18 miles. About $3.25 in gas a week, not a lot but it all adds up.

7) Programmable thermostat in our home, we have moved and have propane for the furnace fuel. I have never had this type of heat but our previous home had 2 programmable thermostats and I really liked having the ability to manage the temperature when I wasn't home or when sleeping. Unknown savings, industry estimate is about $120.00 a year. Living in Iowa, in Blizzard Alley on the Buffalo Ridge I imagine we will save a lot more than that.

8) I have hired a service to do my mailings, they also do the postage. I don't have to take the time to write, place postage or mail the info. Estimated hours saved that can be used for other prospecting 3 a week. That is 3 I can be on the phone staying in touch or doing other more immediate contacting.

9) Reviewed my advertising for 09, refined and focused it. I didn't renew some, at a savings of about $25.00 a week.

10) Read more marketing books, blogs, checkout websites of competitors, learn more about SEO so I can implement it more efficiently and not have to pay a service. Knowledge of how to do something is abetter investment than paying to have it done in some instances. Currently, I do my own website and SEO but I have been seriously looking into having it done in 09. Cost savings in 09 will be $175 a month.

Anyone else out there have any ideas?

Housing Trends from the Iowa Realtors Association - Mid-Year Report

According to the Iowa Realtors Association the Storm Lake Board is up considerably over 2006.
The Median Price for 2006 was - $69,500
The Median Price for 2007 is - $88,800
That's an increase of 28%

Days on Market have increased
DOM in 2006 at midyear - 86
DOM in 2007 at midyear - 118
That's an increase of 37%

What do those numbers mean?

1) Local real estate is appreciating in general - that's a good thing
2) DOM is also increasing, that may not be a good thing, it means properties are staying on the market longer - possibly a reflection of the Doom Sayers in the national market. It could also be an indication that properties are being priced higher than the market will bear. I will look into the number of properties by percent that had price reductions before selling in 2007 as compared to 2006.

On our Wednesday MLS tours I have been disappointed to see an increasing number of unrealistically priced homes. This is a disservice to the client (Seller), it also goes against the Realtor's code of ethics that we are all bound by if we use the term Realtor behind our name.

If you want to sell a property, you contact a Realtor and they don't do a CMA prior to listing your home - RUN! This analysis is one tool that helps you price your home correctly. A CMA is a report that will show what the market will bear (in other words what you will most probably sell your property for). A CMA is also used with Buyers, it is how a Realtor best represents a Buyer - it is a report that will show what the market has paid for similar properties. This tells your Buyers whether they are offering a realistic amount. Not that they don't trust you or anything - give them the facts to backup your opinions.

October Storm Lake MLS Real Estate Market Report

Want to know what the Storm Lake, Alta and surrounding area real estate market is doing? Click on the link below or on the article title above, I think you will be surprised.
This report shows all properties reported sold on the Storm Lake MLS, the major brokerage's "piece of the pie" and the year to date numbers. Check back often to see the local market numbers and how we are doing as opposed to the national market.

http://activerain.com/blogsview/267832/October-Storm-Lake-and