Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors.

The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1% below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, cautioned that there would be a long recovery process. “Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” he said. “But the recovery looks to be a long process. Home buyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

Yun added, “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.”

The PHSI in the Northeast rose 6.3% to 62.5 in July but is 21.1% below a year ago. In the Midwest the index increased 4.1% to 66.7 but remains 25.7% below July 2009. Pending home sales in the South rose 1.2% to an index of 86.3, but are 15.6% lower than a year ago. In the West the index jumped 11.6% to 95.0 but is 17.6% below July 2009.

The national index had fallen 29.9% in May and another 2.8% in June.

For more information, visit www.realtor.org.

Keep checking RuhlHomes.com for the most up to date information on the real estate market!

Courtesy of: RisMedia

Ruhl&Ruhl REALTORS proudly collected 10,947 pounds of food for the 2010 Student Hunger Drive Corporate Challenge and earned the prize for the Most Creative Company at the annual Clucky awards.

 “I am so proud of our company’s participation in such a wonderful community organization,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “There was quite the competition between our offices this year, which really pushed our donations to the next level.”

 Each of the Ruhl&Ruhl offices that participated, including Bettendorf, Clinton, Corporate, Davenport and Moline, had unique events to get the donations collected, such as penny wars and potlucks.

 It was a record setting year for the organization, collecting 77,432 pounds of food for the River Bend Foodbank in the corporate challenge. The Student Food Drive is an effort conducted by area high school students to collect and donate food to the River Bend Foodbank. The Foodbank serves over 300 charitable feeding programs throughout a 22 county service area. This year, the Quad-City Times received the overall prize by collecting 13,144 total pounds of food.

 A special thanks goes out to our team of volunteers: Rose Wulgaret, Moline Office; Pat Johnson, Davenport Office; Marybeth Chupka, Bettendorf Office; Norm Vande Kamp, Clinton Office; Doug Himmelman, Corporate Office; Bridget Drenter, Corporate Office; Allyson Holub, Corporate Office and Sally Atwell, Corporate Office.

 A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells nearly 3,800 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Cedar Rapids, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at http://www.ruhlhomes.com/ .

A few months ago, a health care bill turned the country upside down on the subject of the “National Real Estate Transfer Tax.”  Both sides have argued whether or not the new “Real Estate Tax” exists.  Some might even be asking what a Transfer Tax is.  Unlike property taxes, real estate transfer taxes are state and local taxes that are assessed on property when ownership of the property is transferred between parties.  These taxes are used in many areas to fund programs designed to preserve rapidly depleting spaces in commercial or residential areas, and to fund housing programs for low-income residents. 

With all the confusion and controversy we do have a better explanation! 

Effective January 1, 2013, singles with annual gross income over $200,000, and married couples with annual gross income over $250,000 will have to pay 3.8% tax on profit from the sale of their property. This is not an income tax.  All revenue collected by tax is dedicated to the Medicare hospital insurance program.  This tax doesn’t apply to everyone, but it WILL apply to those that profit on the sale of their home. 

The up to $500,000 exclusion of gain for married couples (or up to $250,000 for single taxpayers or those who file a separate tax return) has not changed.  If you have owned and lived in your home for at least two full years within the five years before the home is sold, you will be able to take the appropriate exclusion.

For example, your adjusted gross income is $150,000.  You sell your house and make a profit of $400,000.  There is no change in the way you determine your gain.  You take your purchase price, add major improvements you have made and subtract that number from the net sales price.  If you have lived in your home for at least two out of the last five years, you are eligible to exclude all your profit.

The new tax only applies to home sale gains in excess of the $250,000/$500,000 that push the individual or couple over the annual gross income level of $200,000/$250,000 limit.  Everyone’s situation is different.  Please consult your tax professional or attorney to determine your qualifications.  Click here for more information from the National Association of Realtors.  Or visit IRS.gov

Keep checking RuhlHomes.com for the most up to date information on the real estate market!

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, is pleased to announce the addition of a Cedar Rapids Office.

Ruhl&Ruhl is the 96^th largest residential real estate company in the country in sales transactions, according to the National Association of Realtors. They are the largest real estate company in eastern Iowa.

Cedar Rapids will be Ruhl&Ruhl’s 10^th office – their other residential sales offices are located in Bettendorf, Davenport, Clinton, Coralville, DeWitt, Maquoketa, Muscatine and Dubuque, Iowa; and in Moline, Illinois.

The company belongs to 11 different Multiple Listing Services and properties for sale from all these markets are available to the public on their website at RuhlHomes.com. The 253 agent company has been serving families in the region since 1862 and Caroline Ruhl is the 4^th generation of Ruhl’s to lead the organization. Her son, Chris Beason, is the 5^th generation and works in their Davenport Office.

 “We are excited to open an office in Cedar Rapids so we can better serve our current and future clients in the area,” said Ruhl.

Ruhl&Ruhl currently has 19 agents who belong to the Cedar Rapids MLS and two more in pre-licensing classes. The company recently opened a temporary office located at 383 Collins Road, NE, Suite 100, Cedar Rapids. Working from this office are Cedar Rapids agents Carole and Dana Benson, Kathy Louvar, Tim Stanley, and Mary Kay Starks and Rod Starks from Delhi. Soon to be licensed are Beth Brockette and Marilyn Gill.

Ruhl&Ruhl has been marketing homes in Cedar Rapids for four years with agents from their Coralville office who also belong to the Cedar Rapids MLS. Those agents are: Jim Cannon, Paul Ellis, Travis Hiatt, Chad Keune, Lisa Lynes, Mike Morrow, Kelley Myers, Jean Newlin-Schnake, Anna Pauly, Tia Perez, Marc Simpson, Roxanne Sisneros and Jeremy Willis.

Ruhl&Ruhl will have a grand opening at their new office at 5805 Council Street, NE, Cedar Rapids in November. This state-of-the-art facility is currently in the design and build-out stage.

The people at Ruhl&Ruhl are committed to making the home buying and home selling experience easy, fun and hassle free. “Our clients need sales associates they can trust who will be their knowledgeable advocates, guiding them through the home sale or home purchase process. Our people really care about our clients and strive to exceed expectations. At Ruhl&Ruhl, our people are the difference,” said Ruhl.

In addition to residential sales, Ruhl&Ruhl specializes in relocation services, working with top companies such as Cartus, Primacy, Prudential and SIRVA. The company also offers services in real estate investments, new home sales, land development, farm sales, senior services, property management, home vendor services, and mortgage services through 1862 Mortgage.

Ruhl&Ruhl is a family-owned company that annually sells nearly 3,800 homes in eastern Iowa, western Illinois and southwestern Wisconsin. The company started in a little German grocery store in west Davenport, Iowa, from which insurance and real estate also were sold. Now, Ruhl&Ruhl has grown to more than 253 sales associates, 52 employees and 10 offices, yet their commitment to providing service with quality, value and integrity remains firmly rooted.

For more information on Ruhl&Ruhl, visit our new office at 383 Collins Road, NE, Suite 100, Cedar Rapids, call 319.373.7845 or visit us online at RuhlHomes.com.

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, is pleased to announce that Michael R. Wendt II has assumed the role of Ruhl&Ruhl General Sales Manager.

Wendt, who has worked at Ruhl&Ruhl for two years as the Legal Compliance and Customer Relations Manager, will continue his current duties for the company in addition to being the direct report for Ruhl&Ruhl office managers.

“We are pleased that Mike is stepping up to a new challenge,” Ruhl said. “He has demonstrated his tremendous skills and knowledge, which make him well-suited for this new role.”
 
Prior to his position at Ruhl&Ruhl, Wendt was an associate with the law firm of Califf & Harper, P.C. in Moline. He received his undergraduate degrees from Drake University in 1997 and his Master’s Degree in Urban and Regional Planning, as well as his M.B.A. focusing on Real Estate Finance, from the Henry B. Tippie School of Management at the University of Iowa in 1999. In 2005 he received his Law degree from the University Of Illinois College Of Law, and joined the Illinois Bar in 2005, and the Iowa Bar in 2006. Wendt has also been a licensed Broker since 2004 and is currently licensed in Iowa, Illinois and Wisconsin. 
 
Wendt is a native of Moline and currently sits on the board of the Moline Youth Football Association, is a member of the Moline Plan Commission, and is President of the Quad Cities Illini Club. Wendt is also a member of both the Optimist and Rotary clubs in Moline. He and his wife Eileen Wendt have three kids; Kendall, Carson and Jack. 

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Cedar Rapids, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com .

After a close call with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline until September 30, 2010.  The extension applies only to transactions that have signed contracts in place as of April 30, 2010 that have not yet closed.  This new deadline applies to both the $8,000 tax credit for first-time homebuyers and the $6,500 tax credit for repeat homebuyers. Congress sited unique circumstances and a back log of closings as factors in not being able to make the original closing date deadline of June 30, 2010. 

The legislation is designed to create a seamless extension to the new closing deadline for an eligible transaction.  There would be no gap between June 30 and the date the President signs the bill into law, which he is anticipated to do so this week.

Keep checking RuhlHomes.com for the most up to date information on the real estate market.

Ruhl&Ruhl REALTORS was recently visited and critiqued by leaders of 15 real estate firms from all different areas of the United States.

Brokers came from Raleigh, North Carolina; Reno, Nevada; Los Angeles, California; Burlington, Vermont, and points in between to help make Ruhl&Ruhl an even better company. “The entire group was very complimentary of our Quad Cities region, and envious of our economic health, particularly our strong and stable real estate market,” notes Caroline Ruhl, President of Ruhl&Ruhl REALTORS.

They were also complimentary of our agents and staff – awed at how friendly, productive and upbeat the entire Ruhl team is.

“The Leadership Council, a group of 15 of the best run independent realty firms in the United States, has been meeting twice a year for the last 12 years to share ideas and critique our host member’s company,” said Steve Murray, a member of the Leadership Council and Editor of REAL Trends, a publishing and communications company considered to be a leading source of analysis and information on the residential brokerage industry.

“After the recent meeting in the Quad Cities, it is certainly apparent that Ruhl&Ruhl deserves its reputation as one of the best led and managed firms in the country.”

Members of the Leadership Council visited Ruhl&Ruhl’s offices and met with agents, managers and staff from each of the company’s offices. They participated in discussions with Ruhl&Ruhl agents in order to make suggestions for improvements in the company.

“This is one of the key ways we focus on continuous improvement and innovation. We are fortunate to have such a knowledgeable and successful group of brokers take their time to advise Ruhl&Ruhl on how to grow and become better,” said Ruhl. “The value is huge and the friendships are priceless. Many great ideas were provided, some of which have already have been implemented and others are in process.”

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com .

After nearly six months of growing his hair (and many hairstyles, much to the ado of his agents!), Jeff Hefel, Ruhl&Ruhl’s Dubuque Manager, posed the following challenge:

Raise $2,000 for Hospice of Dubuque and I will shave my head – raise it by June 1, and I will wear a Mohawk for a week!

After raising $2,230, here are the results!

Together, with 1862 Mortgage, Ruhl&Ruhl REALTORS will be hosting an informational seminar regarding VA mortgages. Veterans have many financing benefits that they may not be aware of, including:

- Up to 100% financing available
- No monthly private mortgage insurance (PMI)
- Additional IFA/Government Grants available
- Additional assistance for disabled veterans

In addition, the Homebuyer Tax Credit has been extended for a full year for members of the military, the foreign service and the intelligence community. For these homebuyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011. Attend to learn more!

Thursday, June 3rd at 6:30 pm
Ruhl&Ruhl REALTORS
903 6th Avenue, DeWitt

RSVP to Kristie by June 1st at 563.659.9433
A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 240 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com.

Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do.

Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May.

At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82.

The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May and paid $1,439.59 per month.

That’s a $1,467 annual savings. Over 30 years, it’s a $44,003 savings, dwarfing the tax credit.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 homes in eastern Iowa, western Illinois and southwestern Wisconsin.  Caroline Ruhl is the President and owner of Ruhl&Ruhl REALTORS, and is the fourth generation of the Ruhl family to lead the residential brokerage and home services company.  Headquartered in Davenport, Iowa, the company has 250 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, Clinton, Coralville, Davenport, DeWitt, Dubuque, Maquoketa, and Muscatine, in Iowa, and in Moline, Illinois.  In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at http://www.ruhlhomes.com/ .

Source: Informa Research Services (05/26/2010)