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Matt Grohe CRS, GRI, ABR

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June 2009 Des Moines sales give cause for optimism

07-16-09
Matt Grohe CRS, GRI, ABR

After a bumpy ride this year, Des Moines area home sales are showing some signs of stabilization according to the July 14th article in the Des Moines Register "Home sales even with '08; prices dip" by Donelle Eller. Despite the somewhat ominous headline, the article and data paint a fairly rosy picture of home sales in the area. Some data from the Des Moines Area Association of Realtors highlighted in the article:

  • June 2009 unit sales (782) almost even with June 2008 unit sales (779)
  • June 2009 pending sales (924) soared over June 2008 pending sales (798)
  • June 2009 average sale price ($168,750) down slightly from June 2008 average ($177,386)
  • June 2009 Average days on market (106) increased from June 2008 average days of (95)

Joanne Mangold DMAAR Vice president was quoted in the article as attributing the drop in average sales prices to increased sales of foreclosed homes. Inventory still remains low according to DMAAR, at 5,851 homes or about 90% of June 2008 levels.

From what I've seen, lower market prices are keeping many sellers from listing, and also keeping those with homes on the market from being able to move them at an acceptable price. This dynamic means that some potential move up buyers are sidelined by falling prices as they can't afford to both take a loss on their homes and come up with larger downpayments demanded by today's capital markets. A lot of the activity seems to be coming from relocating buyers, first time buyers, and sellers that have resided in their homes for long enough to have built up enough equity to be able to price for the market and get them sold.

Rising days on market and lower average sales prices aside, I see the latest trends and marketplace activity as being very postive. If prices can stabilize, that could be the key to unlocking and even greater rush of sales activity.

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Supra on the phone: A great call

07-13-09
Matt Grohe CRS, GRI, ABR

Our MLS has been on Supra since I joined in 2003. At that time we all had our little black E-key keypads that we entered codes into and plugged into a gray lock box to get key access.

Beginning in 2004 in what seemed like a huge technological advance, our board, The Des Moines Area Association of Realtors started switching out our gray electronic lock boxes for infra red models. The E-key keypads could do both lock boxes so we continued to fumble along with them however.

If you're familiar with the devices, they had to be put in a cradle hooked to a phone line which updated nightly. Forget to put it in the cradle and you could only use the key three times before it wouldn't open boxes. Then, if you were in the field, you had to call in and navigate your way through a phone tree to get a 12 digit update code. Copy it down wrong and you had to call in again. Seems like when it happened to me it was always raining and my cell phone battery was about to die. What a pain! That is if I'd even remembered to bring the thing on that occasion. Oh man!

But no more! Starting in about 2006 Supra started making its E-key application available for certain cell phones, or Smartphones. Wow! My life changed. I never forget my phone and so that made it certain that I always had my E-Key. Furthermore, Supra hasmobile listing data, an agent roster, client search manager, showing report and more helpful tools. I find it indispensable for my business. I use it every day. Supra even sent out a rep that did free training for our board, you can check their website at GE/Supra for a schedule of when they might offer the course in your area.

Now, Supra for Smartphone*Source Supra/GE is available for over 40 phones:

Blackberry: 8800 series, Bold, Curve, Pearl, Pearl Flip and Storm *Blackberrys however require the use of a fob which I wouldn't like.

Windows Mobile Smartphone Infared models: 8125, 8525, HTC Mogul, HTC p4300, iPAQ 6900 Series, MDA, PPC-6700/6800, Treo 700w/wx, Treo 750, Treo Pro (850), Treo 800w, XV 6700/6800

Palm models: Centro, Treo 600, Treo 650, Treo 680, Treo 700p, Treo 755p

Carriers: These carriers offer compatible models: Alltel, AT&T, Bell, Cellular South, Rogers, Sprint, T-Mobile, Telus, Unical, US Cellular, Verizon.

If you are still carrying around an Activekey (newer version) keypad you owe it to yourself to research whether you could get a lot more functionality over having e-key professional on your Smartphone. Although phone choices are limited, they have increased from just being offered on a few phones. Having been a keypad user and now having the application on my phone, I can tell you that next to my website, this is absolutely the last tool I would ever give up.

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Closed! My First Verified Active Rain Referral

07-02-09
Matt Grohe CRS, GRI, ABR

I was just pulling up to TJMaxx when I got the call at slightly past 9pm on April 16th. I answered it cheerfully, "Hello this is Matt with Remax Concepts." "That's what I like, an agent who answers his *&^*($# phone!" Barked the caller. "Oh no" I thought. Many things raced through my mind but I replied "That's the best way I've found to help people. How can I help you sir?" Laughter

"Matt, This is LL." Of course I knew LL right away. He's only the top AR blogger in the state. Instantly my pulse beat faster as I informed him I knew exactly who he was, how great it was to have him calling and again asked how I could help him.

Seems he had someone special to him that needed to find a home in my market area. He'd been reading my AR blog and comments and "liked what he read" so he chose me to assist, even though his broker was part of a corporate referral program which did not include my broker. I was flabbergasted. I wanted to say enough to impress him but not so much as I'd sound like a total dork. Apparently it worked. The next day the referral form arrived from the corporate office. I had that thing signed and back in under 15 minutes.

After that I had to meet the prospect, establish rapport, help them select homes to view, drive all over two counties, look at dozens of homes, get an offer accepted: at midnight, get everything turned in, get past inspection, etc, and take it to close. All that however, was the easy part. That's what I'm trained to do. All that I couldn't have done if I hadn't had a prospect. All that I couldn't have done if I hadn't been on AR and quite possibly couldn't have done if I hadn't answered my phone that Thursday night.

So I met some super nice folks who I could help and who helped me, LL and his special somebodys, and sold another home. I love my job, and I love AR.

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Iowa's new Septic Inspection Law Starts on July 1st 2009

07-01-09
Matt Grohe CRS, GRI, ABR

Well, it happened. In spite of a lot of REALTOR lobbying against the proposed mandatory septic inspection requirement at transfer, it passed as has now become law. Unless your transfer was recorded prior to July 1st 2009 you will be required to submit to a certified inspection process to record your deed in many cases where you have a residence with a septic system.

Some important points:

  • The new law requires pumping at transfer, unless it has been "properly" completed within 3 years prior.
  • Failing systems will be required to meet new code specifications.
  • Inspections must be conducted by an inspection certified by the DNR.
  • Inspection form will be required to be submitted with transfer.
  • Inspections will be good for 2 years even if property transfers again.
  • Property abstracts will include the inspection results.

Exceptions are:

  • The law only applies to transfers of property containing one to four dwelling units,
  • Exemptions for transfers which the consideration is $500 or less
  • Intra family business organization transfers
  • Properties which will be razed or demolished
  • Foreclosures, Transfer by trustee, Execution of a Judgment

This law is a benefit for the States groundwater and for buyers, but could be a burden on a seller, septic business owner, and agents. The burden on the seller is the potential liability for updating of older systems if even only one component is failing. Septic business owners will have to become certified. The burden for agents then will be in ensuring that the inspections are performed, meeting with inspectors, and making sure the documents are filled out correctly and delivered properly.

All in all I think the laws is postive for consumers and groundwater but will take a little getting used to.

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Last day to file for this years Homestead Exemption in Polk County 06/30/09

06-30-09
Matt Grohe CRS, GRI, ABR

June 30th is the last day in Polk County to file for the Homestead Exemption and have the benefit be applied to this year's taxes. Home owners may always file after July 1st, but the Homestead will only be applied then to the next years taxes.

If you're unfamiliar with the Homestead Exemption, or other home owner tax credits, you can read about them at the Polk County Assessors website, which is an excellent source of information.

Home owners in other municipalities may enjoy similar programs as well. Basically what the Homestead Tax Credit program does is reduce the taxable value of your home by $4,850 if you are an owner occupant, meaning that you live in the home as your primary residence versus renting it out to someone else or having another primary residence. This results in a savings of around $142 per year for the average taxpayer. Hey, Every little bit helps!

There are currently 45 tax credit programs available in Polk County. CLICK HERE to view the complete list.

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