Big Announcement - I found the silverware!

Finally, while going through some boxes last night to find a few more staging items I found my silverware. I can't tell you how glad I am to not have to eat from awful plastic silverware. My staging got good reviews and I will be adding several things this afternoon. Staging is fascinating and I attended a meeting with a local interior design guru - Cathy Sorbe this week. She made several recommendations including using neutrals, and neutral does not mean all beige. I'm all for that, I am so far from a beige person I though I would die thinking I had to paint my home all beige to sell it.
Cathy also said large area rugs, large art and large foliage are good items to use. Well I have everything except the large foliage. I'm into real plants and I don't much care for faux plants, but she does have a pear tree in her shop I rather liked.
I will let everyone know what advice she gave me on adding to or pearing (pun intended :) - down my staging.

Our Home is For Sale in ALTA

Check out a few pictures of our home










This is my apology to all my readers, as most of you know we (my husband and I) have been so busy lately that we can't see straight.


Our home is for sale in Alta, we bought a building that we plan to gut and turn into our new home. Somewhere I packed the 3 sets of silverware we have, over a month ago, and I still haven't found a single one. We were greatly blessed by our Summit Chruch family and all the help they gave us in our move, we could never thank them enough!
We were living out of boxes in the lower level of our new "home" as we got our home in town ready for sale. Getting ready included exterior paint, interior paint, new garage siding, new carpet, 2 bathroom updates, refinishing the huge front porch floor, building a new staircase to the basement, mowing every other day due to rain every day, staging, not to mention all the cleaning after drywall sanding and getting it all done within 3 weeks. Can you say TIRED?

Well the house in town is done, although I have asked Cathy Sorbe of Elements located at 1701 W. Milwaukee Ave, Storm Lake 712-732-2385 (local design Guru)to fine tune it.
She is awesome!

Will a Short Sale Ruin My Credit - In a Word YES

I came across this excellent article by one of my favorite bloggers- Elizabeth Weintraub, on About.com. This is a really important and potentially dangerous type of transaction for Realtors. If you want to be up to date follow the link and tread carefully it is dangerous out there nowdays!

Our area is seeing foreclosures slowly creep up but our market is still very solid here in Storm Lake and Alta Iowa.

Credit Score Hit - 30 points every time!

I learned something interesting at our MLS meeting last Wednesday, a lot of people are paying other bills before they are paying their mortgage. I can't imagine their priorities, cell phone - some where to live? When a mortgage payment is 30 days late it drops your critit score a full 30 points - it doesn't take too many late mortgage payments to devestate your precious credit score!
With the increase in the required credit score to be able to get a mortgage or qualify for PMI it is not ever a good idea to be late on your mortgage. Pay your mortgage as your first bill, and skimp on other things like cable, highspeed, entertainment, eating out, cell phone, gasoline etc....

New 1031 Exchange Ruling on Vacation Homes

The IRS issued a ruling that will determine how vacation homes can be qualified as investment property in a 1031 exchange.

1031 exchanges are a marvelous tool for real estate investors, check out the link to see how this works with a vacation home. There has always been a problem with the determination of vacation homes as personal or investment property. Now we have very clear rules including ownership for at least 2 years. Also to qualify as investment property, ie be considered in a 1031 exchange the property must be rented at fair market rent for at least 14 days in each 12 month period. There are also strict rules for the owner's use and it goes without saying document everything or don't even try an exchange. To find out more check out the link

1031 Exchange is fascinating and seems complicated but there are a professionals who work in this field and make it a lot easier. This is a tool every Realtor should have in their arsenal.

Brian Botello Video

If you read my earlier posts you know a precious friend Karyn Brophy lost her only son Brian Botello in Iraq last year. This is a video Brian and a friend did while in Iraq, he looks so good and so happy. I was so blessed by this video, please view it and listen and let it bless you too. Click on Brain's name in the title and the video will begin.

May God Bless all of our heros that have served or are serving to keep this great country free. Fight jihadism, if you have never read the Koran I highly recommend you do so, in a translation that is useful. If you instead choose not to you can't possibly understand what we are fighting against and what so many of our brave fellow Americans have died for - and that alone puts our counrty at a terrible risk.

New Development in Alta

Alta residents, there is a new development plan afoot. Don't know what I'm talking about; call one of your city council members, attend a City Council meeting, talk to Mayor Tom French or stop in and talk to the city clerk. There is a major shortage of housing in Alta, prices are up and so is need. From sitting in on a recent City Council meeting and getting a visit from Tom French, it looks like the city of Alta will own the land/lots, will be developing them and selling them to prospective builders.

I am uncomfortable with the idea of government stepping in where private business should be. From the conversation with Tom and comments made by some of the Council members the cost to develop each lot is not their biggest concern, unlike a private developer profit is not focused on. I voiced a desire to see a side by side comparison with the development Addie has proposed. Long term there would be a lot more lots available. I also think this should be an area that the public's opinion should weigh mightly on the decision, ultimately they will be footing the bill.

Hum, cost is a concern of mine as a tax payer, resident and Realtor in Alta. One of the major reasons people want to live in Alta is that the taxes are lower than Storm Lake. Keep checking back for updates to this interesting situation that is developing in Alta. Let me know your thoughts about this.

Winter Pictures of Storm Lake and Alta Iowa

New Storm Lake Iowa Pictures

Check out these beautiful winter pictures

Frosty Morning

Park on Lake Avenue

Early Morning Frost

Frosty Star on Lake Ave.

Frosty Flame

Frost and Fog on Storm Lake - For more pictures of Storm Lake Iowa and the surrounding area check out http://www.georgiaweaver.com/ and http://www.slrealtycheck.com/ and http://picasaweb.google.com/SLRealtyCheck.com/StormLakeIowaBlackAndWhitePictures

Do You Have an Adjusting ARM? How do you know if You Qualify for Help

If you have gotten caught in the adjusting ARM nightmare, there is hope. Follow the link in the title to see if you qualify for the assistance program. Don't just stick your head in the sand! If you have missed one payment you may still qualify. Contact your lending institution or the company that services your loan and call 1-888-995-HOPE, which provides counseling to homeowners with mortgage problems.
There is HOPE, the best defense against getting into trouble is to educate yourself and don't keep your knowledge to yourself, pass it on.

Realtors and Consumers The Chairman of the Senate Banking Committee Needs Your Support

Sen. Christopher Dodd is expected today to introduce a bill that would require mortgage lenders to issue only loans that are beneficial to borrowers and that borrowers are able to repay. What a novel idea - What, you thought the banking industry had your best interests at heart????

This bill seeks better loans for consumers. The proposal by the chairman of the Senate Banking Committee would not only force mortgage lenders to act in the best interest of borrowers, it also would expose Wall Street firms to lawsuits (IT IS ABOUT TIME!!!!) as well as bar subprime mortgage lending practices such as prepayment penalties and yield spread premiums, (this should not be how a mortgage broker gets paid) can anyone say Major Conflict of Interest???
Dodd's proposal is in some ways similar to one from Rep. Barney Frank, which passed in the House by a wide margin in November.

Mortgage companies and banks are expected to come out in force against Dodd's bill. Really? well you as an American consumer can help get this measure in place ----CALL YOUR BANK, MORTGAGE COMPANY, SENATOR AND YELL - Get this legislation passed and implemented. "I'm Mad As Hell and I'm Not Going to Take it ANYMORE!"



Click on the title to link to Reuters article on the bill

Ethanol Company Merger

Verasun to acquire US BioEnergy - are we about to see the ethanol companies merge into 2 or 3 mega ethanol companies as we have observed in the livestock production industry and the grocery business? If that happens is that a good thing? So much bad press by uneducated people claiming ethanol production has pushed up the prices of everything, I wonder what will come of this news. Check out the news links below:
http://biz.yahoo.com/ap/071129/verasun_us_bioenergy.html?.v=3

http://www.marketwatch.com/news/story/verasun-paying-stock-usbioenergy-ethanol/story.aspx?guid=%7B4CD313FB%2D13C2%2D4F55%2D8E2C%2D4F0400B11297%7D&siteid=yhoof

http://www.thestreet.com/_yahoo/newsanalysis/newsonthego/10392161.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

http://money.cnn.com/2007/11/29/news/companies/bc.apfn.verasun.usbioene.ap/index.htm?source=yahoo_quote


Let me know what you think, I am obviously a proponent of alternative energy especially ethanol and wind power. Yea, I know we have a bizillion mega tons of coal and gallons of oil - I do have a degree in Science - but just because we have a limited supply doesn't mean we need to stick our heads in the sand.

We need to get off our butts and stop depending on the addictive fossil fuels including oil. Gee, if we didn't need their oil what do you think we would have done to you know who? Car makers, get your game together and produce what we all know you already have - efficient vehicles! 20-30 miles a gallon; get real and give us 40-60 miles a gallon - and make that gallon green and completely renewable.
Ok, I'm glad that's out!

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.

Fire - Enough Insurance?

Everyone's read about or seen the fires in California in the past several months. It was brought very near to me a couple of weeks ago. We had a fire - and we don't live in California. We were so blessed, it occurred when I was home and, had 2 electricians in the house, which by the way is over 100 years old and dry as a bone!
How many of the houses destroyed in California had enough insurance to be replaced - according to the California Dept of Insurance as many as 40% of them didn't. I'm not worried - I have full coverage insurance on my home, you say, well did you know that full coverage insurance doesn't guarantee replacement cost?
Might be a good time to give your insurance agent a call and say, "I want to make sure I have the right kind and enough insurance to rebuild my home if it is destroyed - and Oh, by the way can you make it competitive :>) Thanks so MUCH!

Anti-Predatory Lending Bill Passes - Good or Bad?

Click on the title to read my opinion and please comment on how we can fix this broken system.

Need Some Great Gift Ideas?

Check out Rhonda Barker's Promo site, I recently purchased calendars for my clients but there are so many cool things Rhonda can get. http://promo-web.com/d/d1.asp?d=promo4u&pg=1

"We have items for trade shows, employee incentives, business gifts, special events, direct mail, Web site promotion, corporate apparel and more . . ."

Local Real Estate Market Report - your opinion needed!

As you know I do a local real estate market report, I have recently had several requests for additional information on this report. Mainly, the names of the Sellers and the Buyers. This info is public record after the property closes and can be found at the court house. I can include this additional info easily. What do you think, would it be helpful to you? I currently use an Excel Spreadsheet format - I do love spreadsheets, please suggest any changes you would like to see.

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

Buena Vista County - The Tax Man is Coming to Your Home!

The B.V. County Assessor announced November 13th that they will be doing door-to-door inspections of all residential properties beginning on Nov 1st. Hum, maybe the notice should have been given in October, Oh well. The reappraisal should end by December 2008 and go into effect January 2009. I want to be on the record stating that I am not opposed to paying a fair share for government, taxes should be for the safety and improvement of our societies. However, I don't believe in wasting money - both my husband and I work hard as I'm sure you do.

What does this mean for you; properties have been selling rapidly and have increased in value significantly over the last 3 years, especially in Alta. Have you done any remodeling work to your property, it could mean higher taxes. If your property is in poor condition it could mean lower taxes, but I suspect that overall the taxes will not go down. The type of information the Assessors will be collecting include: construction type, physical condition of the property, age of the structures, type of interior finish, and exterior measurements.

No, it won't matter if you are home or not, I think the Assessor will notify the target neighborhoods prior to sending our personnel.

In Spring of 2009 the owners will be able to meet with and discuss their revaluation and the new assessments. Mark this date on your calendar - in red! If you receive an evaluation that is higher than you think your home could sell for in a reasonable amount of time (90 days) call me, your Realtor. I have the ability to do an extensive CMA (competitive market analysis) to determine a range of where your property should sell. If this amount is considerably lower than the value your property has appraised at you may be able to dispute it and have the appraised value lowered.

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

Calling all DIYers

Have you done some remodeling you are proud of , got before and after pix and receipts? Check out this contest - the grand prize is $25,000. Click on the title of this post or go to www.BHG.com/challenge
$25,000 that's enough to take the whole family to Hawaii for several weeks - did I happen to mention Hawaii is my most favorite place in the whole entire world?

Hey the contest ends Jan 15, 2008 - you can still do a project and enter. Remember I do love Hawaii!