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.

Call Me Today To See How I Can Make a Difference For YOU!

Great New 2009 Tax Credit Reference Chart - Storm Lake and Alta Iowa Homes For Sale

Know someone who is looking to buy or sell - follow the link to the tax credit reference chart oput out by the National Association of Realtors.

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.

Storm Lake Iowa Homes For Sale Through New Brokerage

Brand new real estate brokerage now open in the Storm Lake MLS area. Want more information - call Georgia Weaver the owner of Weaver LLC Realtors. Pilot Tribune newspaper covering our new brokerage, the services we offer, our philosophy on doing business and the Top 10 Reasons You Need to List Your Properties With US.

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.

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!

Town Allowing Sidewalks to be Removed - What's Your Opinion?

Alta is allowing property owners to remove sidewalks in town. No sidewalks is a problem if you are handicapped, I think it could lead to some accessibility problems for the city when it comes to their streets and the ADA. Limited accessibility is usually seen as a negative for people looking to move to an area; right now Alta has a strong real estate market when the rest of the nation is struggling.
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.
Thank you

New Listing - Acreage in Alta Iowa

All of you out there who want to live in the country you need to see this gem. The bungalow has 3 bedrooms, an open floor plan, stone fireplace, huge deck, wooded lot and as a bonus it has a 50 by 50 barn. Check out the video http://www.georgiaweaver.com/ then call me, it won't be available long at $88.500! This home was moved to the site 14 years ago, at that time a new foundation was built, all the wiring, and plumbing was updated. A new roof was done 6-7 years ago. plumbing

718 Main Street Alta, Iowa - New Listing

Checkout the new listing in ALta - GREAT Location close to both schools, some updates and lots of charm! Call, text or email me to see this one! 712-574-5426.

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!!!

New Income Property For Sale in Storm Lake, Iowa

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.

Stimulus Package the Answer? Not by a long shot!

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.

National Association of Realtors Site - Tax Credit Chart

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.

Do You Know Your Mortgage Terms? 1 in 4 don't!

Home owners are getting better at understanding mortgage terms, but according to a GfK Roper random survey of homeowners and others, 26% still don't know if they have a fixed rate, ARM or other kind of home mortgage. Still, the numbers are better than last year where 34% didn't know.
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.

Pictures of Storm Lake Iowa in the winter

Storm Lake Iowa is a winter wonderland.

Come and take a look at the beauty of nature in the winter here in Storm Lake Iowa.

Silver Lining to this Housing Market - Yes Indeed!

Home prices are coming down and so are interest rates. That is a very good turn of events for potential home buyers. The difference between now and 2 years ago, it is much harder to qualify for a mortgage. Two years ago if you had a heart beat you could get a mortgage, no verifications of income or assets needed. If you are a potential first time home buyer - even better! You will need an income, good credit, a good down payment and your own closing costs.
The criteria listed above is not a bad thing, it is a very good thing. If you are preparing to buy a home you will need at the least fair money management skills. Keeping a job, saving for a down payment, paying your bills on time, living within a budget and planning for the future are all prerequisites for being a mature responsible member of society.
If you are one of those members of society now is quite possibly the best time of your life to buy a home.

How Green are You?

Green living is happening all over, we are a little slower here in Storm Lake and Alta Iowa but I am beginning to see some progress. Lots of people are very interested in saving money and the environment.

Check out the Green Links for just about everything:
There's sure to be at least a few that will be helpful, if you have favorites of your own please share them here too!

Green Business Guide - http://www.business.gov/guides/environment/
Best Green Blogs - http://www.bestgreenblogs.com/category/green-guides/
Green Auto Guide - http://www.cars.com/go/crp/buyingGuides/green/index.jsp
Save Gas Now - http://beyondoil.nrdc.org/fuel/gasprices
How to Reduce Your Energy Consumption - http://www.nrdc.org/air/energy/genergy.asp
Energy Efficient Appliances - http://www.nrdc.org/air/energy/fappl.asp
Recycling 101 - http://www.nrdc.org/cities/recycling/gsteps.asp
7 Steps for Creating Eco-Fabulous Interiors - http://www.nrdc.org/cities/living/gdesign.asp
Consumer Guide to Water Water Purifiers - http://www.nrdc.org/water/drinking/gfilters.asp
How to Go Green Bathroom Renovation - http://planetgreen.discovery.com/go-green/bathroom-renovation/index.html
How to Go Green Home Renovation - http://planetgreen.discovery.com/go-green/home-renovation/index.html
Green Natural Skin Care - http://planetgreen.discovery.com/go-green/natural-skin-care/index.html
Green Cleaning - http://planetgreen.discovery.com/go-green/green-cleaning/index.html
Green Lighting - http://planetgreen.discovery.com/go-green/green-lighting/index.html
Pellet Stoves - http://planetgreen.discovery.com/buying-guides/green-pellet-stoves.html
Consumer Reports Green Choices - http://www.greenerchoices.org/pcategories.cfm?pcat=appliances
EcoBroker - http://www.ecobroker.com/

One big way to be green - blog, it saves a lot of trees!

I am also interested in green alternatives to weed control, we bought an acerage this year and it has an abundance of weeks. I would rather not use nasty chemicals because I do have a large garden.

Lustron - Rare Architectural Example in My Backyard

I came across this interesting home when I moved to Alta and once I became a REALTOR I found another one in Storm Lake. While doing some research for a very special Italianate home (which is a sub class of Victorian architecture) I saw a picture of one of these homes. The homes are called Lustron homes they are made out of steel, everything is steel - even the walls on the inside. Is that cool or what?? They are prefab homes built in 1949 and 1950 and I found out there are a number of them where I live (Midwest) and now I am sharing them with you! If you would like to learn more check out the book Lustron: The History of a Postwar Prefabricated Housing Experiment (McFarland & Co., 2001).

Here is a link to find out more online - The Midwest Office of the National Trust for Historic Preservation has created a Web site, http://www.lustronpreservation.org/, for more. Stay tuned for more pictures and more info.

Storm Lake and Local Area Housing Market Report - January through July 2008

Everyone is asking, how's the real estate market and without looking at the actual numbers I know we are down but not suffering in this immediate area. I was actually surprised at how much we are down not just in price but also in number of homes selling.

The Iowa Association of REALTORS publishes the monthly statistics on their site. The following numbers are reported by the individual Boards of Realtors, in our instance that is is United Counties Board of Realtors.

January 2008 - Median Price $52,000 down from $85,500 in 2007
Number sold 13, up from 12 in 2007

February 2008 - Median Price $72,500 down from $88,000 in 2007
Number sold 22, up from 16 in 2007

March 2008 - Median Price $78,500 up from $77,500 in 2007
Number sold 9, way down from 25 in 2007

April 2008 - Median Price $78,000 down from $83,000 in 2007
Number sold 3, again down from 5 in 2007

May 2008 - Median Price $55,000 down from 87,000 in 2007
Number sold 19, down from 23 in 2007

June 2008 - Median Price $90,000 up from $89,000 in 2007
Number sold 19, down from 25 in 2007

July 2008 - Median Price $85,000 down from $91,500 in 2007
Number sold 21, up from 11 in 2007

The real estate market in our area, just like all over the US is trending down. I believe that can be attributed to 2 major factors: the first is insecurity making major financial commitments due to the instability in the economy and the second it the whiplash effect we are experiencing from all the poor loan practices over the last 3-5 years. Banks are requiring a very good credit score and a down payment. Many Americans have neither, so they have no choice but to continue to rent. There is a bright side to all markets, regardless of whether they are up or down. In this one the silver lining is for the people who own rental properties.

Hopefully, this long needed correction in loaning practices will serve as a wake up call for all of us to SAVE, read the fine print, live under our means and learn to wait for some things.

Free Home Inventory Forms

All home owners and renters should have at the very least paper copies of a home inventory and it should be stored away from the home. A video or picture documentation and the receipt is even better but it is good to have something. I wondered how many Iowans that were impacted by the flooding Mississippi had the documentation they needed to file claims with their insurance companies. If you don't have records of what you own go to this link and print off these forms. Take the time to record what you have, it took a long time to be able to earn enough to purchase those things and yes you probably have insurance.

It is helpful to keep this current at least once a year, why not at New Year's time. We get things that need to be insured at that time of year and the camera is handy. Record the info., snap a picture (you do need to print it) attach the receipt if you have it and put it all in the BIG envelope you keep IN THE SAFE DEPOSIT BOX, take the envelope to the safe deposit box and you are done.

The perfect time to begin a home inventory is when you are moving, you have to pack it, why not document it?

If you have older parents it is a good idea to help them do a complete inventory, a video camera is a big help too. Hey it can be fun, spend some time together and get a good deed done.

http://insurance.lovetoknow.com/Home_Inventory_Forms

Storm Lake Iowa Video Tour

Thinking of visiting or moving to Storm Lake Iowa; check out the virtual tour of the town by clicking on the title of this blog. The site is a really cool tool for anyone looking for something in Storm Lake, Iowa. Check out the downtown, eateries, shops, stores, lake, AWAYSIS project, city buildings and a lot more. See if you can find me, I'm located at 106 W Railtroad Street in Storm Lake. This site can also be used to plan a home finding trip, decide what area you think you would like to live in and check it out on-line. Be sure to go to the lake,to King's Pointe, and the water park.
Any questions or think you may want a personal tour of the homes available for sale; give me a call at 712-574-5426 to set up a meeting.