Posts
7/31/2009
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
7/08/2009
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.
7/06/2009
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!!!
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!!!
5/27/2009
New Septic System Ruling Delay Vetoed by Governor
SEPTIC TANK INSPECTIONS EFFECTIVE JULY 1, 2009!
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
515-281-8263
fax: 515-281-9985
E-mail: daniel.olson@dnr.iowa.gov
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 -
http://www.iowadnr.gov/water/npdes/files/final69.pdf
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
515-281-8263
fax: 515-281-9985
E-mail: daniel.olson@dnr.iowa.gov
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 -
http://www.iowadnr.gov/water/npdes/files/final69.pdf
First Time Home Buyers
Are you a first time home buyer; if you are you have a limited time to take advantage of the up to $8,000 tax credit. A lot of misunderstandings are out there concerning this program, here are the facts:
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
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
5/13/2009
105 Peterson Street - New Listing in Alta Iowa
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
Selling Your Home? See the Top 5 Wants Consumers Have in Kitchens
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?
#1 Walk-in Pantry - 86%
#2 Kitchen Island - 80%
#3 Built-in Microwave - 72%
#4 Drinking Water Filtration - 69%
#5 Special Use Storage (custom-made for appliances) - 66%
If you are thinking of remodeling your kitchen keep these items in mind, especially #'s 1-3 for the Alta and Storm Lake Iowa area. I am working with a couple of new construction homes and we are working hard to get most consumers wants incorporated into the plans. We also look at a color scheme that evokes warmth and homey feelings. The kitchen and the bathrooms are the most expensive areas of your home to remodel so it pays to get it right the first time. If you are not buying or building new and would like some ideas give me a call, I do remodel properties and assist in staging homes prior to putting them on the market.
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.
Selling Your Home? See the Top 5 Wants Consumers Have in a Bathroom
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.
4/07/2009
Friends Helping Friends
Saturday we all got together to help the Pedersend put the first coat of mud on their basement drywall. Below are some pictures, somehow Joyce and Ronnie didn't get in any of the pictures. Oh well, we are going to be back over tonight, the camera will be ready!
3/30/2009
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.
2/18/2009
Stimulus Package the Answer? Not by a long shot!
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.
2/09/2009
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.
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.
1/19/2009
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.
Come and take a look at the beauty of nature in the winter here in Storm Lake Iowa.
12/04/2008
217 Buena Vista Street, Alta Iowa - Christmas Open House
Do you know what an Italianate Victorian home is, would you like to see one? Come by 217 Buena Vista Street in Alta this Saturday between 2 and 5 and take a look at this gorgeous home. It will be decorated for Christmas and we will be serving hot cider and of course Christmas cookies. I have the very lovely and talented Bonnie Lewis helping me with this project and she came up with the brilliant idea of holding the open house in formal attire. No we aren't going to be dressed as 2 Mrs. Claus. It should be a great time for all, if this Saturday doesn't work for you give me a call and I will set-up a tour at a time that is more convenient.
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.
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.
10/19/2008
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.
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.
10/17/2008
Iowa Statewide Housing Statistics
The Iowa Association of Realtors publishes housing statistical information and summarizes all boards that report.
Statewide the numbers stack up like this:
Comparing 2008 to 2007
January 2008 - Median Price down 18% and number of sales down 36%,
February 2008 - Median Price down 17% and number of sales down 11%,
March 2008 - Median Price down 18% and number of sales down 24%
April 2008 - Median Price down 1% and number of sales down 14%
May 2008 - Median Price down 17% and the number of sales down 15%
June 2008 - Median Price down 1% and the number of sales down 31%
July 2008 - Median Price UP 1% and the number of sales down 9%
I expect to see these numbers getting into positive territory very soon, once the election is over and the economy stabilizes.
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.
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.
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