RuhlHomes.com provides easy access to ALL properties for sale by all companies in our region, and now allows consumers to search properties that have recently sold in their area.
RuhlHomes.com is the only area website to provide information on properties that have recently sold – including details like days on market and property details – helping our clients make more informed decisions when buying or selling real estate.
RuhlHomes.com remains the source for up to date real estate information, continuing to offer a wealth of information on mortgages, real estate trends by market, the home buying and selling process, relocation, new construction, investing in real estate, which includes free investor calculation tools and an online seminar at ruhlhomes.com/investor, and so much more!
Visit the new RuhlHomes.com today and you’ll be smarter by the click!
Davenport NOW, a city established tax incentive program that launched in July of 2009, provides a 50% rebate of the City’s share of property taxes for 10 years to people who build a home or renovate an existing property in Davenport, Iowa. The program has now been extended to June of 2014!
Davenport NOW was passed to improve economic development, as well as provide more opportunities to small business owners in construction and remodeling. Since the program was established in 2009 the city of Davenport has already rebated over $2.8 million with most participants receiving over $6,000.
In August of 2010, the Davenport City Council approved the expansion of the Davenport NOW program to include a special program for historic properties, which provides an additional tax benefit to homeowners completing historic improvements. Applicants can receive a rebate on the value of the improvements of up to 100% of the city’s share of your property taxes for 10 years. Under both programs, eligible participants may choose a single one-time payment or multiple payments over ten years.
To qualify for the Davenport or Historic Davenport NOW programs this is some of the criteria:
The property must be in a local or national historic district or listed on the national registry of historic properties.
The property must be a single family, owner occupied home.
Improvements must lead to a minimum $5,000 increase in assessed value.
Exterior improvements must receive a certificate of appropriateness from the Davenport Historic Preservation Commission. City staff can assist you in submitting your improvements for approval.
If approved you will then need to choose how you would like to receive you rebate. There are two different methods: Upfront One-time Rebate and Multiple Rebates over 10 Years.
Keep in mind that those receiving a single payment shall do so at a discounted rate. Multi-family residential and commercial properties are not eligible for an upfront rebate.
According to City ordinance, both business and residential property owners may be eligible, as long as the owner occupies the structure. Rental property improvements may also be eligible, but not new rental properties or those converting owner-occupied structures into rental properties.
For more information or to see if you qualify, contact the City of Davenport at 563-888-3380
The value of cropland across the state of Iowa continues to be on the rise, along with high demand.
The Land Trends and Value Survey, presented by the Iowa Farm and Land Chapter #2 REALTORS Land Institute, reported a statewide average increase of cropland values of 18.5% for the year from September 1, 2011 to September 1, 2012. This follows an average increase of 32.6% for the year from September 2010 to September 2011; and an average increase of 8.5% for the year from September 2009 to September 2010.
Farmland, timber and pasture land in our markets continue to be in great demand, said Eric Schlutz, Realtor with Ruhl Farm&Land and Muscatine Manager for Ruhl&Ruhl REALTORS.
“High quality cropland is in the most demand; but there is very little for sale,” Schlutz said. “There are strong commodity prices, great long-term interest rates and a limited amount of land – it’s the perfect storm for the value of land to increase.”
The survey also attributed the increase in land values to a lack of stable alternative investments and fear of inflation.
For the survey, participants are asked to estimate the average value of farmland as of September 1, 2012. These estimates are for bare, unimproved land with a sale price on a cash basis. Pasture and timberland values were also requested as supplemental information. All nine Iowa crop reporting districts showed an increase.
The survey pointed to some concerns that could affect farmland value in the future, including higher input costs, an increase in interest rates, larger amounts of land being offered for sale, and continued uncertainty of the U.S. and world economy.
“There are always going to be variables of concern for future growth in value,” said Schlutz. “But history has shown land to continue to be a positive investment year over year.”
Ken Paper, Realtor with Ruhl Farm&Land and Realtors Land Institute member, concurred that our local markets are on track for additional growth.
“An interesting point is that there is such high interest from investor buyers,” Paper said. “With good returns from land, the market will continue strong.”
Ruhl Farm&Land, a division of Ruhl&Ruhl REALTORS, is focused on the sale, purchase and marketing of land, farms and acreages. For more information, visit www.RuhlFarmandLand.com.
A family-owned company since 1862, Ruhl&Ruhl REALTORS has grown to more than 290 sales associates, 58 employees and eleven offices, selling more than 4,300 homes in eastern Iowa, western Illinois and southwestern Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa and Muscatine, Iowa; and in Moline, Illinois. In addition to residential sales, the company offers services in relocation, property management, real estate investments, new home sales, land development, farm sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl REALTORS, visit www.RuhlHomes.com.
Many sellers feel that the Spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the Fall and Winter have their own advantages. Here are five reasons to to sell now.
Only Serious Buyers Are Out
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.
There Is Far Less Competition
Housing supply always shrinks dramatically at this time of year. This year will be a little different as some of the distressed properties being liquidated by the banks (in the form of foreclosures & short sales) will enter the market. However, for those buyers looking for a non-distressed property, the choices will be limited. Don’t wait until the spring when all the other potential sellers in your market will put their homes up for sale.
The Process Will Be Quicker
One of the biggest challenges of the 2012 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.
There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 15% from now to 2016. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.
It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.
With record low interest rates and the right time of year, there is no reason to wait any longer, if you have been contemplating listing your home, contact Ruhl&Ruhl Realtors today at 563-441-1776 or visit RuhlHomes.com. We can help you find the right sales associate for you and your family. You don’t have to go it alone!
Ruhl&Ruhl REALTORS is excited to celebrate the continued trend as the #1 company in the Quad Cities, accounting for over 37% market share of all residential and condo sales within the first six months of 2012.
Since 2009 our market share has increased by 20% while our nearest competitors market share has decreased by 16%.
Our sales associates have demonstrated not only hard work but a passion to give their clients the best real estate experience; this has grown their average closed volume to over 11.5% higher than our nearest competitor.
“I truly believe our agents in our company are what make our success and, we are blessed to have them all as part of the Ruhl family,” said Caroline Ruhl. “At Ruhl&Ruhl we pride ourselves to have the most productive agents in the business.” Ruhl&Ruhl is extremely proud of the accomplishments of our sales associates and is looking forward to the growth and success we can demonstrate in the final months of 2012.
While the housing market is still recovering, Ruhl&Ruhl continues to charge ahead with accounting for over 42% of the market share in residential and condo sales in July alone. For more information on the housing market, please see the summer edition of Ruhl&Ruhl’s Facts&Trends newsletter, as well as keep checking RuhlHomes.com.
We have received many questions about a possible 3.8% sales tax which will be put on home sales beginning 2013. Ruhl&Ruhl would like to take this opportunity to do our best to clarify this situation for everyone. Understand that, when it comes to IRS regulations, you should check with your accountant for the most accurate and up-to-date information.
To answer the question, is there a 3.8% sales tax on homes in the health bill? According to the National Association of Realtors (NAR) the answer is NO. The Health Care Reform which takes place in the beginning of 2013 did create a new 3.8% tax, but it applies only to a limited amount of taxpayers.
The truth is that only a tiny percentage of home sellers will pay the tax. To clarify, the 0.9% will affect clientele that the government now considers “High Income” meaning they have income over $200,000 (if married $250,000 filing jointly or $125,000 filing separately). If you don’t meet this threshold you will not be subject to this tax. The tax is on “Annual Gross Income(AGI) such as; net income from interest, dividends, rents and capital gains, as well as earned compensation and several additional forms presented on a Form 1040 Income Tax Return, and will be taxed on the earned income over and above $200,000/$250,000 thresholds.
As for the 3.8%, this is a tax on investments for those same “High Income”people ($200,000/$250,000). It is a tax on “Unearned Income“: Unearned income is the income that an individual derives from investing his/her capital. It includes capital gains, rents, dividends and interest income. It also comes from some investments in active business if the investor is not an active participant in the business. The portion of unearned income that is subject both to income tax and the new Medicare tax is the amount of income derived from these sources, reduced by any expenses associated with earning that income.
The portion of unearned income that is subject both to income tax and the new Medicare tax is the amount of income derived from these sources, reduced by any expenses associated with earning that income. Therefore in the case of rental properties, the taxable amount would be gross rents minus all expenses (including deprecation) incurred in operating the rental property. For example, if the gross rents were $100,000 with associated expenses of $40,000, net rents would equal $60,000 ($100,000 minus $40,000) would be included in your AGI.
The tax will only apply on the earnings from the sale of a personal residence if after the closing you received a large return on investment now categorizing yourself as “High Income”,a $250,000 profit for an individual of $500,000 profit for a married couple. Even then it would only be a tax on the amount over and above those thresholds.
We can understand all the confusion as categorizing the facts for this blog post was confusing enough. The law itself is inputted in highly technical language that only a qualified tax expert can fully grasp so please consult them for the most specific information to fit your situation. We offer this just as an explanation. Remember, when it comes to IRS regulations, you should check with your accountant for the most accurate and up-to-date information.
For the most up-to-date information on the housing market, continue checking RuhlHomes.com
Regional real estate sales are strong. Sales volume is up in almost all of our markets for the first 6 months of the year compared to 2011:
Burlington Area +17%
Cedar Rapids Area +16%
Clinton Area +34%
Dubuque Area +17%
Illinois Quad Cities +18%
Iowa Quad Cities +21%
Iowa City Area +28%
Muscatine/Wilton Area +12%
Ruhl&Ruhl REALTORS sales volume is up 29% through June and sales pended but not yet closed in June were up 23.5%, so the momentum continues.
Regionally, new construction sales are up 15% through June, while our new construction inventory has dropped 28%.
According to Eric Belsky, Managing Director of the Harvard Joint Center for Housing Studies, “people are slowly getting more confident…more Americans are deciding that it’s a good time to buy…you know, the opportunity to buy at or near the bottom of a cycle is great. And I think people are beginning to appreciate that… meanwhile, the cost of renting a house or apartment has been rising. When you compare the cost of owning versus the cost of renting, it hasn’t looked this good in 40 to 50 years.”
“And we are sitting in the ‘sweet spot’ in the country, both for real estate sales and appreciation,” notes Caroline Ruhl, President of Ruhl&Ruhl REALTORS. According to the Real Trends Housing Market Report, housing unit sales for May 2012 were up 20.1% in the Midwest, the strongest showing in the country for the fourth consecutive month. According to the Federal Housing Finance Agency, of the 303 MSA’s (Metropolitan Statistical Areas) ranked by home price appreciation, all of Ruhl&Ruhl’s markets ranked in the top 20% in the nation.
“The Housing market recovery is charging ahead with units in the double digit range while prices were up from a year ago for the second month in a row,” observes Steve Murray, editor of the REAL Trends Housing Market Report. “The market is being charged by the strong presence of investors and first-time buyers but far more move-up buyers are appearing. The shortage of inventory…is also starting to drive prices upward.”
Inventory in our region is declining. Properties listed for sale have fallen compared to June 2011: down 11% in the Burlington area, down 10% in the Cedar Rapids area, down 22% in DeWitt, down 26% in the Dubuque area, down 16% in the Illinois Quad Cities, down 4% in the Iowa Quad Cities, down 12% in the Iowa City area, down 17% in Maquoketa/Preston/Bellevue and down 6% in the Muscatine/Wilton area.
“Properties are selling faster than we can list them,” notes Ruhl. “In the Quad Cities, for example, we have the lowest inventory on the MLS that we have had since the summer of 2005. We really need more properties listed for us to sell.”
A family-owned company since 1862, Ruhl&Ruhl REALTORS has grown to 280 sales associates, 58 employees and eleven offices, selling more than 4,100 homes in eastern Iowa, western Illinois and southwestern Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa and Muscatine, Iowa; and in Moline, Illinois. In addition to residential sales, the company offers services in relocation, property management, real estate investments, new home sales, land development, farm sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl REALTORS, visit their website at www.RuhlHomes.com.
This blog often discusses the data behind the housing market. Today, we want to address the emotion behind the market comeback; a belief in homeownership which is still alive and well in this country.
A study conducted by Coldwell Banker and psychotherapist Dr. Robi Ludwig found that owning a home is still very much a goal for many Americans.In the study, 91 percent of those surveyed said owning a home is part of the American Dream. A second study by TD Bank, reported similar results:
More than half of consumers polled say homeownership is a vital component to defining the American Dream
59% associated feelings of excitement or pride as part of their first time home buying process
84% of today’s younger renting generation-ages 18-34-intend to buy a home
This belief in homeownership is a major reason Americans are again buying homes. As Dr. Ludwig explains:
“Now that we’re picking up the pieces, we’re seeing a psychological shift. Instead of looking at homes through the eyes of an economist, we’re realizing that a home doesn’t solely equate to financial return or measure only to a mortgage amount. Instead the home is the emotional center of our lives, and it remains a critical component of who we are…
The feeling you get when you step through your front door or pull into your driveway is indescribable and priceless and the same holds true for our children who crave stability. While I know that financial hardships during the recession clearly have impacted many households, it is clear that the emotional value of a home is still strongly recognized.”
For the most up to date information on the housing market, keep checking RuhlHomes.com.
Ruhl&Ruhl REALTORS was once again ranked the largest privately-owned real estate company in Iowa, according to RISMedia’s 2012 Power Broker Report.
The report ranks the top 300 real estate companies in the country according to the number of transactions and sales volume. Ruhl&Ruhl ranked 93rd in the country for the number of transactions closed, which was 4,152 in 2011.
Other Iowa Companies Ranked as follows.
Company Name
Transactions Rank
Transactions
Sales Volume
Total Offices
Total Agents
Transactions per Agent
Ruhl&Ruhl REALTORS
93
4,152
$593,082,327
11
275
15.1
Skogman Realty, Cedar Rapids
136
3,151
$495,969,414
5
221
14.26
Mel Foster Co., Quad Cities
150
2,939
$419,362,790
9
231
12.72
Coldwell Banker Mid-America Group, REALTORS, Des Moines
186
2,530
$385,564,406
5
186
13.6
“2011 was a wonderful year for Ruhl&Ruhl REALTORS – our sales volume grew by 7.3% and we had 6.8% more transactions than the prior year,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “And it looks like 2012 will be even better! For the first quarter sales volume closed was up 50.5% over the first quarter of 2011 and 39.9% more transactions were closed.”
On average, Ruhl&Ruhl agents sold 15.1 properties per agent, as either listing or selling agents, which places Ruhl&Ruhl agents among the most productive in the country. The National Association of Realtors reports an average of 7 sales per agent nationally.
“We are excited and proud to earn this ranking,” Ruhl said. “I have been blessed to be surrounded by the best people in our business. At the end of the day, it always comes down to having the right people.”
A family-owned company since 1862, Ruhl&Ruhl REALTORS has grown to 279 sales associates, 58 employees and eleven offices, selling more than 4,100 homes in eastern Iowa, western Illinois and southwestern Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa and Muscatine, Iowa; and in Moline, Illinois. In addition to residential sales, the company offers services in relocation, property management, real estate investments, new home sales, land development, farm sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl REALTORS, visit their website at www.RuhlHomes.com.
If you are either buying or selling a home in today’s market, you need a real estate expert. However, we must realize what the term ‘expert’ actually means. An expert in any area cannot give perfect advice as no one can predict the future. But they can give excellent advice based on their insight into their field.
If you go to an attorney with a legal challenge, he/she will look over your case and give you your options. They realize they cannot guarantee the outcome of any of the options. Still, they give the best advice possible and allow you to decide the option with which you feel most comfortable. They then will put together a strategy which hopefully will bring about the most favorable conclusion.
If you go to a doctor with a serious ailment, he/she will give you your options and work with you to develop the best treatment program. They cannot guarantee any program’s success. They will, however, monitor your progress and adjust your treatments or medications. They will stand next to you until the best result is achieved.
Real estate is no different. A true real estate professional will understand your options and simply and effectively explain them to you and your family. Once you chose an option, they will strategize a plan to help you accomplish your goals. They will standby you as the process evolves and will help you make the necessary adjustments if necessary.
They cannot see the future any better than doctors or attorneys and thus their advice will never be perfect. However, just like those other professionals, an expert agent will give you excellent advice that will bring about the best possible outcome.
Ruhl&Ruhl REALTORS is the EXPERT in our market! Our Sales associates can assist you in residential sales and offer services in relocation, new home sales, land development, farm sales, senior services and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl REALTORS, visit their website at RuhlHomes.com.
