Posts Tagged ‘Iowa’

Iowa Foreclosures Hit New High

Friday, August 27th, 2010

 Iowa has been a sheltered state in terms of foreclosures during the economic crisis that has deeply impacted much of the country over the last two years. But now we are seeing the numbers of foreclosures in Iowa climb; does this mean the housing trouble is getting worse?

Although it is distressing that homes in foreclosure in Iowa hit a new high of 2.82%, it is important to recognize that the homes included in this number only include properties that have been turned over to the bank, and not homes occupied by owners who are struggling to make payments. The distinction is important because the process of foreclosure in Iowa is lengthy and often takes at least 8 months to complete. Therefore, the numbers just released for the 2nd Quarter of this year are actually a reflection of what was happening with homeowners over a year ago.

To predict if foreclosures are headed up or down, the delinquency rate is a better indicator. During this same period (2nd quarter 2010), homeowners who were seriously delinquent on their payments dipped from the previous quarter. This sign of improvement may indicate that the worst is behind us. Fortunately, even with the current increase, Iowa’s foreclosure rate of 2.82% is still significantly better than the national average of 4.57%. Photo & stats source: http://bit.ly/c1Wxhr

Post by Tabitha Zesch, Relocation Director

New Home Sales up 33%

Wednesday, August 18th, 2010

HCS Builders in Ames has been experiencing a substantial increase in sales of brand new homes. “We are starting back on the growth path. Sales (at HCS) are up 33% thru 8/17/2010 over the same period in 2009,” noted Dean Hunziker, Broker of Hunziker & Associates, REALTORS. Hunziker & Associates, REALTORS markets homes constructed by HCS Builders, a sister company with offices at our Ames location. 

Interestingly, most of the growth is due to an increase in custom home orders.  Custom homes are built to the specifications of the customer from the ground up. HCS has two home designers on staff to design home plans for clients. Custom homes can be at any price point, although they tend to be more elaborate.

HCS also offers build-to-suit homes, where clients choose the floor plan and then customize all of the options from there, and spec homes, where the homes are built without a buyer yet but are still customizable until their completion. Jill Anderson, HCS’s in-house Project Coordinator, assists customers with selecting their home’s decor to fit their personal style.

A great aspect of building with HCS Builders is that Clients can be as involved (or not involved) in their new home as they desire. Our agents can help you through the entire process from selecting a lot to previewing home plans HCS has already built.

Additional information about HCS Builders, Inc. is available on their website. http://bit.ly/dyJkjS . Post by Lyndsey Van Soelen, Communications Intern.

Do your homework to find the best agent for you.

Friday, August 6th, 2010

Selling or buying a home can be a thrilling experience, or it can be incredibly frustrating and stressful. The difference is often heavily impacted by the caliber of your Realtor® and how hard they will work for you. But with all of the real estate agents out there, how can you select an outstanding Realtor® over one who is just average?

The first step is to look for a company with a trusted name, one that is established and respected, and a company that is involved in the community. These companies tend to put a lot of merit in their reputation, and generally only hire people that will represent the company well. Consider if they have the resources and support personnel to properly market your home. Hiring a company with extensive marketing resources and strong networking connections will increase your odds selling quickly for the best possible price or finding that perfect home.

When considering agents, you can ask whether real estate is their full-time job, how much experience they have, if they have completed advanced education (often shown as designations behind their name such as CRS, GRI or CBR), and what they will do to represent your best interests. Although years of experience can be an indicator of ability, more important is effort, enthusiasm, and networking ability. Try asking potential agents what has been happening in the real estate market to see how knowledgable and current they are on local market conditions.

It is always critical in real estate to use someone intimately familiar with the town where you plan to buy or sell. By asking how many homes they have sold in your target area it is easy to confirm if they regularly work in the area. It is also a good idea to find someone knowledgeable of the type of property you will be dealing with, such as an acreage, condo or fixer-upper. For example, to find an agent for purchasing or selling a rental property, it would make sense to select an agent who owns rental properties themself. Asking friends or neighbors to recommend an agent they had a good experience with is one way to start. Or, you can ask potential agents for referrals from past clients, or call a reputable company and ask to speak to the Relocation Department to reach a staff member who can personally recommend an agent for you based on your needs.

Finding an agent who can help you successfully buy or sell your home with the least hassle possible is worth the effort. Do your homework, and don’t settle until you find the right agent for you!

About Hunziker & Associates, REALTORS

Meet our Agents

Post by Lyndsey Van Soelen, Communications Intern

Home For Sale with Private Lake (in the basement)

Friday, July 23rd, 2010

Timm Suess

Iowa has been hit hard by heavy rains this year, so most homes have had their ability to cope with dousing downpours and saturated soil thoroughly tested. Water in the basement is a common concern of home buyers as well as the most common source of real estate lawsuits when previous issues were not properly disclosed. It is key for sellers and owners to remedy any ongoing water issues to protect their home and it’s value. Fortunately, it can often be quite simple and inexpensive to prevent future water issues. 

The most important thing is to make sure water has a clear path to drain away from your home rather than into it, not only because it prevents flooding but also because water flowing at the home can cause major foundation damage. This can be prevented by cleaning out gutters and making sure downspouts extend out at least four feet. Building up the dirt around your foundation helps rain water to flow away from the foundation as well. Experts recommend a slope of about 1 inch incline per foot, for at least 6 feet.  And, make sure basement drains are clear of roots, mud and debris by having them cleaned out whenever they don’t drain freely. 

Additionally, you want to seal anyplace water may gain a point of entry into the basement. Check for any cracks in the foundation or basement walls, as well as areas around chimneys, fireplaces or driveways that touch the edge of the house. Make sure window wells have drains or install a cover (covers are inexpensive and can be found at home improvement stores).  Drainage tile can also be installed just below the surface of the ground to help water flow quickly away from the house. These plastic tubes are inexpensive, readily available, and can be installed with just a shovel for anyone willing to spend a little time digging. For homes where these steps do not correct water problems, a sump pump may be the only way to fully deal with water issues.

There are also ways to minimize potential damage should some water get in from time to time, such as placing storage boxes on shelves or pallets, placing furniture and appliances on risers (wood or plastic), and having water heaters and furnaces installed on a raised concrete pad. Running a dehumidifier can help dry things out quickly and prevent mold growth from starting, but should not run permanently because they can actually draw more moisture inside. If you are finishing off a lower level, installing a raised subfloor will allow small amounts of water to run into a floor drain without causing damage to furniture or carpet.

Water issues can be frustrating, but correcting them is possible as well as important. Besides protecting your home’s foundation from erosion and preventing damp conditions that can lead to mold growth, it will also make a home easier to sell in the future, since few buyers will be impressed with a home with it’s own private basement lake.

Post by Lyndsey Van Soelen, Communications Intern

Ames is right on the money…

Monday, July 12th, 2010

CNN Money just revealed its annual “Best Places to Live”  list, and Ames ranked as the #9 best small city to live in the nation! The ranking was based on the low unemployment rate of 4.3%, the great school systems, abundance of entertainment and restaurants, and the prestige of Iowa State University.

The only other 2 Iowa cities that made the list were Iowa City, ranked 68, and West Des Moines, ranked 75.

To see the full story, check out http://bit.ly/9qAUgA

Closing date extended for tax credit

Friday, July 2nd, 2010

Big news: If you entered into contract on a home before April 30 of this year and qualified for the homebuyer tax credits, take a sigh of relief because you now have until September 30 to close on your home.

Because lenders were overwhelmed with the amount of homes to process, many homeowners would not have been able to close by the closing cutoff date of June 30, and therefore would not recieve the tax credit. Because of this problem, Congress and now the Senate passed a bill to extend the cutoff date 3 months. The President is expected to sign the bill within the next couple of days, at which point the extension will be official. An estimated 180,000 to 200,000 persons will be affected by the extension, and is expected to cost $140 million dollars.

For more information, please visit this link: http://bit.ly/dbMbmq

Post by Lyndsey Van Soelen, Communications Intern

Projects that Pay (and Improvements to Avoid)

Friday, June 25th, 2010

How to spend money wisely on remodeling and increase the value of your home…

If you would like to increase the value of your home while increasing the beauty and functionality, remodeling is a great solution. However, not all renovations are created equal: Some bring great returns, others can actually be a liability.

The Dos:

Do invest in the most important rooms of the home, namely kitchens, bathrooms, and master bedrooms. New flooring, updated paint, new cabinetry and upgraded countertops are functional for you and will appeal to future buyers, bringing greater value to your home. Large expenditures, such as cabinetry, flooring, and tile work, will provide the most return when popular neutral options are chosen. This doesn’t mean boring- paint and accessories provide character, but are easily changed later to meet anyone’s taste.

Adding on rooms such as master suites, bathrooms, sunrooms, and family rooms add value only when it brings your home up to the standards of the neighborhood. When adding on rooms, consider the flow of the home and making the addition blend seamlessly into the original home.

The Don’ts :

If you plan on moving in the next couple of years, here is one crucial consideration: You will get much lower returns on the improvements if they do not make sense for your market. It is always good to keep up with the Joneses but not to exceed them, because buyers compare prices within neighborhoods. A general way to estimate whether an improvement is a financial asset or not is to add up your home value and the improvement cost, If the total is more than 20% over average price of homes in your neighborhood, you will probably take a loss when you try to sell your home.

If this is the case, you may want to consider purchasing a new home with the amenities you want rather than improving what you have, as many renovations don’t bring a full return of their cost when the home is sold.

If you make improvements, try to make improvements that are useful and attractive to a variety of buyers. For example, swimming pools or overly ornate gardens may turn off buyers because they require too much maintenance. Additionally, consider more timeless options for permanent fixtures, and add your own flair with things that are easily removed or changed.

Post by Lyndsey Van Soelen, Communications Intern

Creating Curb Appeal: A Before and After Video

Tuesday, June 15th, 2010

Is the exterior of your home boring, out-of-date, or just plain bad? You are certainly not the only one suffering from a less-than-appealing facade. Check out this home makeover for some inspiration!

Video source: http://www.youtube.com/watch?v=F9u8IuVX2IY

Post by Lyndsey Van Soelen, Communications Intern

Imagination and Innovation: The Home of the Future

Friday, June 11th, 2010

What will our homes look like in the future? Kitchen computers and digital wallpaper? Mirrors that tell you how to care for fabrics? Check out this video to see what is coming next in home technology! There is also a look to the past; a similar video from the 1960′s predicting how plastics will change new home construction. Have a fun Friday, and enjoy the video!

http://bit.ly/9R8yhJ

Word-Day Wednesday: Assessed Value

Wednesday, June 9th, 2010

Do you ever wonder what all of that real estate jargon really means? Wednesday is the day where we take those crazy phrases, tell you what they mean, and explain how they are relevant to you!

Today’s Wednesday Word: Assessed Value

When it comes to home values, there is often confusion about the terms and what comprises a home’s assessed worth. Let’s clear the waters for those who find the issue a bit murky.

The purpose of assessed value is to determine how much property tax you should pay (based on the value of your property).  This property tax is used to fund counties, cities, school districts, and other local community services. In Iowa, assessing takes place every other year (the next time will be 2011). The county assessor estimates the value of each property, taking into account the value of the land, constructions on the land, fences, paving, and other improvements. The assessor is trying to get an estimate of  fair market value, so the assessor also compares recently sold properties to find the most probable sales price of the property.

Assessed value should not be confused with appraised value. An appraisal is completed for a fee, usually for a bank when they are deciding how much money to lend on a property. Appraisals also estimate the fair market value, but they include a greater level of in-depth analysis and a tour of the inside of the property.

Ideally, the two values should be similar. If they are not, one possible explanation is time lag: Assessed values are only conducted every other year, so the value may not reflect market changes or  recent home improvements. If you feel that an error has been made by the assessor, you may protest the assessment from April 16 to May 5 every year.

Many sellers are confused when their REALTOR® estimates the value and it is different than the assessed value. It is essential to remember that a REALTORS’® market analysis is more precise and timely, and considers more factors than the assessor. These factors include market trends, desirability of the property, and the interior condition of the home (assessors generally do not enter homes). If you would like to know the market value of your home, contact a REALTOR®, as they will be able to tell you the most accurate value for today’s market.

For more information about assessed value, visit Iowa’s assessor and property taxes page at:

http://bit.ly/cnXTKV

Post by Lyndsey Van Soelen, Communications Intern