Georgia Weaver

2008

40 total properties with the above criteria sold in this period

Days on Market in this period - 27.5% marketed 0 to 30 days, 35% marketed 31-60 days, 2.5% marketed 61-90 days, 7.5% marketed 91-120 days, 27.5% marketed120+ days

Average Days on Market (DOM) was approximately 80

2009

36 total properties sold within the above criteria in this period

Days on Market in this period - 22.2% marketed 0 to 30 days, 33.3% marketed 31-60 days, 8.3% marketed 61-90 days, 13.9% marketed 91-120 days, 22.2% marketed 120+days

Average Days on Market was approximately 87

Summation:

The striking thing about this 3-month block of sales is what little difference there is from last year to this year. None of the numbers are greatly significant, it shows our local market (Storm Lake and Alta) are very stable and have not been negatively impacted by the national downturn. Real estate is a good investment in general, a number of people are purchasing, and selling, we (Realtors) have seen a good year to date. The Storm Lake and Alta housing market is gaining ground overall.

As of August 31, 2009 we had 2.59 months of housing supply for sale in the above markets, this is referred to as the Listing/Absorption rate. 2.59 months is an excellent inventory compared to many markets that have over 12 months housing supply for sale. The supply and demand scenario in our area is excellent at 2.59 months of inventory, this gives buyers a number of properties to choose from but there aren't so many available that it drives the prices down like it has in Minneapolis, Kansas City, Des Moines and most cities in Arizona in general. However, these markets also offer many opportunities, if you are an investor, looking for a second or retirement home or want to move up now is the time to do it in these markets.

Help,

A small town I serve is allowing property owners to remove sidewalks. This is a big problem, the area is northwest Iowa, we get a lot of snow and many children still walk to school. No sidewalks is also a problem if you are handicapped, I think it could lead to some accessibility problems for the city when it comes to their streets and the ADA. Anyone have any input as how to proceed, I hope to be talking to the City Council October 5th and I would like to go in with some input from other Realtors. Thanks for the Help!

FICO 08 are the new guidelines that refer to the new credit scoring. Already, 2 of the reporting agencies, Equifax and Trans Union have started using the new reporting.

The impact of the changes for someone with good credit could be a slight increase in score, if you have some problems your score could drop. Small collections under $100do not count on your score, and some late payments will not hurt you as much if you have other accounts that are current. Like the old system a lot of late payments will drop your score.
As a Realtor I see a lot of credit scores that need work, the way to keep your score in good shape, check your reports at least once a year and twice is best. Pay all bills at least on time and at best early. Do not carry a lot of debt, if you can't pay off a credit card DON'T use credit until you can. Inability to pay off credit cards monthly is a big red flag that you are living over your means and when you do that you are headed for trouble.
Watch for a change in your credit card billing the end of February 2010, and already in effect banks can not give you less than 45 days notice if your interest rates are to change and all credit card statements must be mailed to you at least 21 days before your payment is due.

The IAR and the NAR are working hard to get the current tax credit for first time home buyers extended and expanded. Realtors, contact your local representatives and senators, tell them how this has helped your clients. I know it has really helped mine and I would like to see it extended at least a year and expanded to all home purchases.

6275 170th Avenue, Storm Lake, Iowa is a nice rural property with a 3 bedroom older home, lots of mature trees, fruit trees, perennial flowers, large outdoor entertaining space, a number of out buildings including a large barn with 3 separate areas (2 have concrete flooring and one has pea gravel). Check out the video of the home.
It is not too late to qualify for the first time home buyers tax credit, call me to take a look at this rural home.

This property is located in the Storm Lake Iowa area, just off Highway 7. Storm Lake Iowa is a great area that has a destination part, King's Pointe, a recreational lake, shopping, http://www.bvu.edu/, Buena Vista Regional Hospital, The Pilot Tribune newspaper and the Storm Lake Times Newspaper, a community calendar