About Buena Vista County, IA

Want to invest in real estate, but strapped for cash? Read this article by James Kimmons He is a master of explaining the process and exit strategy. This is a very viable option especially today with so many properties in trouble.
As a real estate investor I have personally used this option and liked the results. It is not for the faint of heart and it does require a knowledgable Realtor or Attorney. Read what James has to say and by the way James is one of my favorite bloggers, I find his information highly valuable and usable as a Realtor and an investor.

James Kimmons article on Lease Purchase as a viable option for Real Estate Investors.

12/11/2009

FHA and Tighter Lending Standards Could Negatively Impact The Storm Lake Iowa Real Estate Market

The FHA is looking into changing some of its lending standards for FHA backed loans in an effort to reduce the number of defaults and limit the risk to the FHA portfolia. Some of these changes will include the amount of down payment required (currently set at 3.5%) and credit score a buyer will need, what percent of the closing costs the Sellers is allowed to pay and an increase in the annual mortgage insurance premium. This is bad news for a lot of first time homebuyers. The FHA has become an important option for home buyers, insuring almost 30% of home purchases-more than 75% of which are to first-time home buyers-20% of mortgage refinancings. Just three years ago, the FHA's share of the mortgage market was 3%. Read the full story by clicking on the link above.

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

Market Snapshot - Year To Date
Single Family Residential in Storm Lake and Alta Iowa - 50588 and 51002

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.

Check out the new Home Buyer Tax Credit Reference Chart if you haven't already gotten one. Click on the link and go - Home Buyer Tax Credit Reference Chart. Once there click on the red box with that info. on the page. I haven't been on in a while because I have been sooooo busy opening my own brokerage :)

We are Weaver LLC Realtors, great office, working with some really good Buyers and Sellers. A little nervous but staying the course and pushing on. One thing I am so thankful for is all the people who have supported me in this decision, helped me get the office, books, forms, files, advertising, marketing, and so many other things organized and on track. And a very special thank you to my husband, Ronnie.

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.