About Buena Vista County, IA

Elizabeth Weintraub has done it again, she has made sense of all the mumbo jumbo that surrounds the 2 current first time home buyer tax credit programs. I've included a link to her on about.com. If you qualify, think you qualify or know someone who may qualify read all about it. http://homebuying.about.com/od/buyingahome/a/21808_taxcredit.htm?nl=1

I have a lot of questions and a lot of people wondering (including Realtors) how this is going to work. Elizabeth details the new tax credit and the 2008 one that has to be paid back. There are a number of hoops and some red tape but it is a worthy endeavor if you even think you might qualify for the 2009 credit. I have mixed feelings about the 2008 tax credit, it is up to you to decide if it is for you.

Did you know:

• With an FHA loan the 3.5% Total Down Payment can be gifted by a relative? Down payment assistance from the seller is also allowed
• Low mortgage income insurance premiums
• No median income requirements
• In our area the maxium loan balance is $271,050 now that's a lot of house in Storm Lake and Alta Iowa
• Less restrictive credit scores than conventional loans
• and leaving the best to last - Great Interest Rates.

Give me a call Georgia Weaver (712-574-5426)and I will help you get FHA qualified and then find a home to fit your needs!

Need information fast, need a good way to explain a real estate investing term or formula? Then you have to go to this webpage, while you are there checkout all the other resources James Kimmons has listed on about.com

This is the time to be investing in real estate, a lot of people are getting out, many who invested previously and didn't keep up their properties will soon have to sell. The rental market (at least in my area Storm Lake and Alta Iowa) is hot, hot, hot! I just purchased another building, this is my first in Storm Lake, it has a commercial tenant on street level and space on the second floor for 2 large 2 bedroom apartments. Not a lot of demo, existing wide plank wood flooring and 12 or 14 foot ceilings. We have one apartment left to complete in our Alta 4 plex, that will be done this Spring then we will start on the Storm Lake building. I am getting excited about the layout, I have lots of ideas and a program called Plan3D to help me make it spectacular!

Disclaimer - I do not make any forerral fee or other gain from Plan3D

http://realestate.about.com/od/knowthemath/tp/financial_calcu.htm

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

New blog featuring local Storm Lake and Alta Iowa news and information, real estate, happenings and opinions. From The Storm Lake Broker Georgia A. Weaver BS Ed, GRI, CRS

If you are interested in this area mark this Active Rain blog and the city blog. We cover the local real estate market in depth, community events (including pictures), how national trends are impacting our area and lots more.

http://stormlake.iowablogpage.com/