Archive for January, 2010

Fifth Generation Joins Ruhl&Ruhl REALTORS

Wednesday, January 27th, 2010

After 148 years in business, the fifth generation of the Ruhl family joins Ruhl&Ruhl REALTORS. Chris Beason, son of Caroline Ruhl, President of Ruhl&Ruhl REALTORS, is now working as a Realtor in the company’s Davenport office.

 

Chris was born and raised in the Quad Cities and has grown up in the real estate business. After graduating from Assumption High School in Davenport, Iowa, Beason moved to St. Paul, Minnesota to attend the University of St. Thomas. There, he earned a bachelor’s degree in real estate, and then went on to work at two nationally recognized real estate agencies – The Norton Agency in Gainesville, Georgia and The Group, Inc. in Fort Collins, Colorado.

 

“I am proud and excited to have Chris join our team,” Caroline said. “I know he will continue our commitment to the communities we serve and will be a team player, helping to build on the quality, value and integrity we provide to all of our clients. Plus, he’s fun and will make coming to work even more gratifying.”

 

Chuck Ruhl Sr., Chris’ 82-year old grandfather, is especially pleased to see another generation join the family business. “I think Chris will be a star in the business,” Chuck said. “The company has improved with each generation’s entry and the new ideas and energy that each person has contributed.” 

 

Ruhl&Ruhl traces its origins back to 1862 when they started as an insurance agency in the back of a little German grocery store on W. 6th Street in Davenport. John G. Ruhl added real estate brokerage in 1900. By 1949, the third generation of Ruhl’s had joined the firm, totaling four full-time real estate salesmen with a successful insurance division. In 1982, the real estate and insurance companies separated.

 

A fourth generation of the Ruhl family was added to the firm with the association in 1976 of Charles A. Ruhl, Jr., in 1980 of Caroline Ruhl and in 1991 of John G. Ruhl.

 

In 1997, Caroline Ruhl took ownership of Ruhl&Ruhl REALTORS, the residential company. Chuck Ruhl, Jr. opened a new company, Ruhl Commercial, and was joined by his brother John G. Ruhl. Jenny Ruhl joined the company in 2003 and is a trainer and an agent at the Bettendorf Office.

Q-C home sales show strength

Tuesday, January 26th, 2010

The Quad-City housing market saw housing sales end the month of December ahead of a year ago.

“When we compare our 2008 numbers to 2009, we are up significantly,” Kris Ratigan, Mel Foster Co.’s marketing director, said Monday of the market’s performance.

Citing statistics from the Quad-Cities Multiple Listing Service, or MLS, which tracks all homes sales in the market, she said the area closed $38.193 million in sales in December. That compared with $32.142 million a year earlier. The number of units sold was 241 in December, which was flat with 233 units sold in December 2008.

Caroline Ruhl, the president of Ruhl & Ruhl Realtors, said her company saw an 11.7 percent increase in units sold in December from a year ago. Sales volume was up, from $34.32 million to $41.38 million, in Ruhl & Ruhl’s combined markets.

But the Quad-City area saw sales slide from November to December. In November, the Quad-City MLS posted $48.74 million in sales with 372 units sold. The November performance was boosted, in large part, by first-time homebuyers rushing to close deals ahead of the original federal tax credit deadline.

“We slid, but you normally go down in December because of the cycle,” Ratigan said, adding that the holidays and winter weather traditionally slow down the market.

However, the average sales price for the MLS of $158,478 in December was above both November’s $131,379 average and the $133,657 average a year ago, she said.

Ruhl said one of the indicators to watch is pending sales, which showed strength in December. Her company posted a 26 percent increase in volume and a 39 percent increase in units in year-over-year comparisons.

“That’s a huge December,” she said, adding that the sales were “riding the first-time homebuyer tax credit, good interest rates and what I think is pent up demand.”

Across the Midwest, home sales declined from November to December, but ended the last month up 9 percent from prior-year levels, according to the National Association of Realtors.

There were 86,000 sales in the 11-state region last month, with a median sales price of $173,600, up almost 4 percent.

That was slightly weaker than the national trend.

Total home sales across the country were up nearly 15 percent in December, without adjusting for seasonal factors. The median home price nationally gained nearly 4 percent, to $225,400.

(The Associated Press contributed to this story.)

Provided by: QC Times, Jennifer DeWitt

New Construction Markets Stabilizing

Monday, January 25th, 2010

2009 has been a year of mixed signals to the new home market.  In our regional markets we started to see daylight with some areas showing actual increases in overall unit sales, while most areas that showed decreases in sales experienced smaller decreases than in 2008.  To be certain, we are not experiencing a “boom” time yet, but the signs of stabilization are certainly present.  Inventories have been pared to levels where absorption rates are returning to 2005 -2006 levels.  Prices have not been severely impacted either.  In fact, one segment of the Quad City market had a 7% increase in the average new home sales price over the last year.

 

The Quad City area continues to see new construction very differently depending upon whether you are in Scott County, IA or in Rock Island County, IL. The Illinois side saw its market share of new construction sales dip below the 20% mark again in 2009, even though it experienced a slight increase in unit sales.  Overall unit sales fell 15% from 2008 levels in the Quad Cities.  House sales took the bulk of the loss, as overall condo sales were only down 2% from 2008.  Since 2004, house sales have fallen from 67% of unit sales to 61% of sales in 2009.  Inventory levels have stabilized and appear well balanced with the price points of recent sales.  The over-development of residential building lots in some areas of this market has left a legacy that is yet undetermined.  Will the need to liquidate lots lead to some lower housing prices or just slower absorption rates?  The coming months will reveal the strategies of lenders and developers alike. 

 

Current sales patterns reveal pockets of success at various price ranges, but many terrific areas are going unnoticed by consumers who, even in the face of upcoming deadlines for tax and other incentives to buy, do not seem to feel any great sense of urgency.  Coupled with the fact that buyers can choose from a wide variety of settings, home styles and prices, the current tax incentives and still low interest rates will hopefully be enough to “thaw” the winter sales chill and bring buyers back into the marketplace in time to take advantage of these conditions.


Copyright © 2010 Ruhl & Ruhl REALTORS. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.