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HomeIowa Market Report For February!

Iowa Market Report For February!

Quad Cities Favorite Realtor

Lucky Lang

February 2008
Real
Call Lucky for all of your Davenport, Iowa and Quad City Real Estate needs at (563) 676-9031

 Copyright © 2008 Realty Times
All Rights Reserved.




Home Selling Tips For
Spring Buyer's Market

If you're planning to put your home on the market in time for spring, now's the time to get it ready to show.
But wait, it's still a buyer's market. What can you do to catch the buyer's eye and get them to make an offer?
It's going to take more than a fresh coat of paint and a new welcome mat. A buyer's market raises the stakes, and you'll find you need to do a lot more work on your home than you think, if you want to get the highest price possible.
You've heard that you should clean, paint and repair, but that may not be enough. If your home is cluttered and in disrepair, buyers won't pay top dollar.

Mortgage Rates
U.S. averages as of January 31, 2008:

30 yr. fixed: 5.68%
15 yr. fixed: 5.17%
1 yr. adj: 5.05%
<!-- <B>30 yr. jumbo: 6.98%</B>-->



View current rates



Knowing how buyers reason should help you pick which updates are most likely to help you sell your home.
Let's take the most basic selling suggestions and explore why these are such important mantras.
CONTINUED >>>


Wondering What Your Home Is Worth?

Let me show you.




Are You Leaving a Tax Deduction on the Table?

I you refinanced your home recently, you're not alone. According to Plunkett Research, approximately $1.1 trillion dollars in mortgage loans was refinanced in the United States in 2006. But did you remember to take an increased mortgage interest deduction on your tax return if you were entitled to one?
Here's how it works. You are allowed to take a deduction on your personal tax return for mortgage interest you pay on a loan that is secured by either your principal residence or a second home, up to one million dollars in acquisition indebtedness. That means mortgages, lines of credit and home equity loans all qualify, as long as they are secured by your home, and you are the primary borrower, and legally obligated to repay that loan.
What you call your first and second homes can be pretty open to interpretation. Pretty much anything will qualify if it has sleeping, cooking and toilet facilities. CONTINUED >>>


Five Reasons Houses
Beat Stocks

Despite what Wall Street wants you to believe, owning a home isn't the same kind of investment as stocks or bonds. What you get is a USE asset that depreciates over time, while it grows in market value. All you have to do is keep the home in good repair to max out your take.
Here are five reasons why you get more for your money with a house than a worthless sock puppet.
Leverage: with stocks, you put in all your money for a little piece of a company. With a house, you put in a little money to get all of the house.
Tax benefits: Uncle Sam knows that owning a home is a pain in the neck, that's why you get subsidies. These are basically government bribes to get you to buy. What other investment can you put in 5 percent of the cost of the asset, reap all the appreciation and pay no capital gains? That's right: live in your home two years, rent it for three, sell it, and pay no tax on capital gains up to 250,000 for singles, $500,000 for married couples. And you're worried about paying too much?
And that's not all - think about the benefits of fixed-rate mortgages, property tax write-offs, interest rate deductions, depreciation. Is this a great country or what? CONTINUED >>>


Read My Blog!!!




You can find many great Davenport real estateagents and loan officers on ActiveRain.com Lucky Lang is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.




Life Expectancy of Home Components

One way to prepare for the costs of owning a home beyond the mortgage payment, insurance and taxes, is to know the expected life expectancy of your home's components.
Such knowledge doesn't supersede the use of a home inspector when buying a home, new or old, but it can help you develop a savings plan so you are prepared for the inevitable.
Sooner or later you'll have to repair or replace many of your home's parts -- inside and out.
Knowledge of components' life expectancies is what homeowner associations use, in part, to build a reserve fund designed to spread, over time, the cost of the inevitable.
CONTINUED >>>


Local Market Conditions




Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.


More Articles


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Provide An Honest, Complete Mortgage Application

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Six Signs It's Time For Home
Buyers To Buy



Lucky Lang
E-mail: llang@melfosterco.com
Web: http://www.luckylang.com/
(563) 676-9031
Mel Foster Company
(563) 823-2213
3211 E 35th St. Ct.
Davenport, IA 52807

Equal Housing Opportunity


E-mail this Newsletter to a friend

It looks like we're turning the corner! This is a great time to buy a home!

For more information on what this recent market information from the Quad Cities means to you please call:

LUCKY LANG, QUAD-CITIES FAVORITE REALTOR®

Lucky Lang, Realtor ® Licensed in Iowa & Illinois

Mel Foster Co., Inc., 3211 E. 35th Street Ct., Davenport, IA 52807-2585

Cell: (563) 676-9031 Office: (563) 823-2213 Fax: (563) 459-6720 Toll Free: (800) 791-8132 Ext. 2213

LuckyLang.com

Don't let this great real estate buying opportunity pass you by!!!

593 Clover Hill Lane, LeClaire, Iowa 52753

5535 Delton Drive, Davenport, Iowa 52804

1432 Rhinelander Drive, Davenport, IA 52804 - SOLD!

1609 W. 66th Street, Davenport, Iowa 52806 - SOLD!

8201 54th Street Ct., Coal Valley, IL 61240 - SOLD!

219 Colony Drive, Davenport, Iowa 52806

Lot 1, Shabonee Estates, Route 84, Rapids City, Illinois 61275

334 S. Elmwood Avenue, Davenport, Iowa 52802

711 Vine Street, Davenport, Iowa 52804

420 E. 6th Street, Davenport, Iowa 52803

414 E. 6th Street, Davenport, Iowa 52803

Call Lucky @ (563) 676-9031

Posted Friday Feb 01
(02/03/08 08:22AM) — Laurie Logan-South Central WI Real Estate

Great Newsletter!  Excellent Information, Very Well Laid Out, Powerful Graphics.  I can see why you are the Quad Cities Favorite Realtor

(02/04/08 06:15PM) — Lucky Lang, SRES®, Davenport, Iowa Real Estate

Laurie,

Thanks for all of your kind words and encouragement!

Lucky :)

(02/04/08 07:38PM) — Frank Rubi Louisiana Real Estate-Homes for Sale

Lucky, I like the newsletter format as well. How do you get these out via client list or just subscription etc...

(02/04/08 10:07PM) — Lucky Lang, SRES®, Davenport, Iowa Real Estate

Frank,

I send these out to my past clients, current clients, and friends.  I also print them out and hand them out at open houses.

Thanks for stopping by!

Lucky :)

(02/06/08 08:18PM) — Ken Tharp - Section 1031 Exchanges, Iowa/U.S.

Lucky, that's a really nice looking newsletter. If you don't mind me asking, what do you use to set it up?

Thanks, Ken 

(02/07/08 06:43AM) — Lucky Lang, SRES®, Davenport, Iowa Real Estate

Ken,

I pay Realty Times $25 per month to do it for me!  You surely don't think that I'm that good do you? :)

Thanks for commenting,

Lucky :)

(02/07/08 09:22AM) — Ken Tharp - Section 1031 Exchanges, Iowa/U.S.

Hey Lucky - Nothing would surprise me, my friend! That does sound like the way to go, though... a lot less headache for you, for sure. 

- Ken 

(02/10/08 06:59AM) — Lucky Lang, SRES®, Davenport, Iowa Real Estate

Ken,

It comes in an e-mail version and a print version.  You may edit/change anything you want.  You may also submit stories to them for inclusion.  Lastly, being a subscriber, you are giving a site to create your own Market Reports for your area.  It's actually a pretty good value!

Take care,

Lucky :) 

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