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Ruhl&Ruhl REALTORS Celebrates Sales Growth in 2011

Wednesday, February 8th, 2012

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, congratulated her sales associates and staff on an amazing 2011. “While business was down in most of our markets and at most competing real estate companies, business was up at Ruhl&Ruhl REALTORS!”

 

Ruhl credited her company’s success to her extraordinary people:  “The Ruhl&Ruhl difference is truly found in the compassion, expertise and commitment of our people, from agents to staff to management to loan officers.  You out-worked and out-smarted and out-serviced the competition.  At the end of the day, it always comes down to having the best people.  Thank you for your wonderful service, your hard work and your loyalty.”

The company also celebrated their 150th birthday.  The Ruhl family has been helping other families in the region since 1862.  “With our 4th and 5th generations of family ownership and leadership, we look forward to serving the people and communities we love for many generations to come,” commented Caroline Ruhl.

The company celebrated at an awards brunch at the Waterfront Convention Center in Bettendorf. They honored and recognized 173 award winners for their 2011 achievements.

 1.            Growth in Number of Properties Sold

Ruhl&Ruhl REALTORS sold 4,360 properties in 2011, as either listing agent or selling agent. 

This was 6.8% more transactions than in 2010. 

 In the Quad Cities MLS (Multiple Listing Service), 2% fewer properties were sold in 2011 than in 2010.

2.            Sales Volume Up 7.3%

Ruhl&Ruhl REALTORS’ sales volume in 2011 was $593,082,327, 7.3% higher than sales volume in 2010.

Residential sales volume was down 4% in the Quad Cities MLS.

 3.            Properties Listed Up 4.3%

Ruhl&Ruhl REALTORS sales associates listed 3,317 properties for sale in 2011, 4.3% more than they listed in 2010.

4.            More Great Sales Associates and Staff

While the number of agents went down in the 12 Boards of Realtors/MLS’s that the company belongs to, Ruhl&Ruhl REALTORS added a net of 24 sales associates, growing our agent base from 251 as of December 31, 2010 to 275 agents as of December 31, 2011.  In addition, 58 dedicated employees work for the company.

5.            Revenue Up 9.5%

 Revenue in a real estate company is primarily gross commission income, or GCI. Ruhl&Ruhl REALTORS’ 2011 GCI was up 9.5% over 2010.

 6.            29.4% of Ruhl Buyers Used 1862 Mortgage

 1862 Mortgage is Ruhl&Ruhl REALTORS’ in-house mortgage company. 29.4% of Ruhl’s buyers with financing used 1862 Mortgage during 2011.

 7.            Gains in Market Share

Ruhl&Ruhl REALTORS had 36.74% of the Quad Cities residential market in 2011, up from 33.85% in 2010. Their largest competitor, Mel Foster Co., saw market share fall from 37.44% to 34.46%, making Ruhl&Ruhl REALTORS the largest residential broker in the Quad Cities.  Market share in the Iowa Quad Cities grew from 37.5% to 41.05% for Ruhl&Ruhl REALTORS.  In the Illinois Quad Cities, market share grew from 26.4% to 27.6%.

In the Muscatine MLS, Ruhl&Ruhl REALTORS’ market share grew from 36% in 2010 to 39% in 2011. 

8.            Per Agent Productivity Among Best in the Nation

On average, Ruhl agents sold 15.1 properties per agent, as either listing or selling agents. This places Ruhl agents among the most productive in the country. The National Association of Realtors reports an average of 7 sales per agent nationally.

 9.            New Construction Sales Up 6.1%

Ruhl&Ruhl REALTORS sold 243 new construction homes or condos in 2011, up from 229 in 2010. New construction sales volume was $71,271,090 with an average price of $293,297.  New construction sales were down 20% in the Quad Cities.

 10.          Outlook for 2012

Caroline Ruhl expects 2012 to be an even better year, both for the regional real estate market, and for Ruhl&Ruhl REALTORS.

“If January, 2012 is any indication, it’s going to be a great year!  New business pended in January was up 47% in sales volume and 34% in number of properties sold at Ruhl&Ruhl REALTORS.  And revenue (closed gross commission income) was up 81% based on 69% more properties sold,” said Ruhl.

“Why is this the busiest winter market in years?  For starters, spring like weather in January works wonders for people’s attitudes and interest in looking at real estate.  Then factor in the lowest interest rates in history – 3.875% for 30 years, no points and 3.375% for 15 years, no points.  And finally some good news on the unemployment front, so buyer confidence is improving.  We’re actually seeing multiple offers again and a shortage of listings in some price ranges and locations.  My advice is refinance if you haven’t already done so and invest in residential real estate.  We see strong growth potential in our property values and tremendous demand for rentals.”


Ruhl&Ruhl REALTORS Congratulates 2011 Award Winners

Ruhl&Ruhl REALTORS honored and recognized 173 award winners for their 2011 achievements at the Waterfront Convention Center on Friday morning, February 3, 2012.  The top honors were awarded to:

Top Residential Associate of the Year: Quadruple Diamond Club – Jon Loquist, Moline Office

Top Excellence in Service Award: Melissa Wegener, Davenport Office

Extraordinary Production Award: Janet Munck, Clinton Office

New Associate of the Year: Craig Newcomb, Bettendorf Office

Top Associate of the Year – Farm Division: Ken Paper, Davenport Office

Employee of the Year: Sally Atwell, Executive Assistant, Corporate Office

Top 1862 Mortgage Associate of the Year: Ray McDevitt, Bettendorf Office

Top Insurance Referral Agent: Rick Weipert, Bettendorf Office

There is a complete list of all award winners on Ruhl&Ruhl’s website at
www.RuhlHomes.com/Agent-Achievements.

A family-owned company since 1862, Ruhl&Ruhl REALTORS has grown to more than 275 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, visit their website at www.RuhlHomes.com.

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Iowa housing market stable

Wednesday, January 25th, 2012

The Iowa Association of Realtors is reporting a glimmer of positive news in its annual 2011 Housing Trends Report, out this month.

It says home sales were up statewide in December, for the fifth consecutive month, and steady throughout 2011.

Rob Cook is a realtor for Ruhl&Ruhl REALTORS in Dubuque, a real estate blogger and self-proclaimed “numbers guy.”

He pulled statistics from the Federal Housing Finance Agency (FHFA), showing Dubuque is number two in the nation when it comes to high rates of house appreciation.

Those numbers show the average home in Dubuque appreciated 2.46 percent in one year, through Sept. 2011, and 8.06 percent over the course of five years. Bismark, N.D., by the way, took top marks, with a 15.99 percent five-year average appreciation.

In Dubuque, Cook said, “our average sale price right now is about $155,000, give or take, and we’ve sold just shy of 800 homes in each of the last three years in the Dubuque city: zip codes 52001, 52002, 52003.”

A map of the US from the FHFA shows each state’s average home value appreciation over the course of 12 months, from the third quarter of 2010 to the third quarter of 2011.

“The whole state’s doing relatively well compared to the rest of the country,” Cook said.

Iowa is only one of four states that didn’t experience depreciating home values. The average Iowa home over the course of that period went up 1.3 percent in value, according to the FHFA. The average Nebraska house appreciated 0.5 percent, Wyoming saw a 2.9 percent increase and North Dakota came in first place, with a 5.4 percent increase.

“When you buy a house, buy a car, buy a boat, there’s always a risk that it’s going to depreciate or not appreciate like you had planned,” Cook said.

Iowa, he said, on average, has a stable housing market.

Mel Graves is a realtor with Brissey in Dubuque and secretary and treasurer of the Dubuque Board of Realtors.

He pointed out 2011 was the first year without any tax credit incentives for home buyers, “so this is a pure year, this is just market-driven,” he said.

Graves said he has noticed a slight increase in consumer confidence.

“It seems to me that people are now beginning to say, ‘I need to make that decision I’ve been holding off on, I am comfortable that my job’s going to be there, and I’m going to go ahead,’” Graves said. “That’s significant. When they can do that, then they can go ahead and make some plans.”

He said insurance rates continue to be low, which is encouraging for buyers.

The total number of home sales in Iowa for 2011 increased 0.4 percent from 2010.

Regardless of state or national housing market numbers, however, Cook suggests buyers and sellers look at their own particular market.

“They need to be fully aware of what’s going on in their market and not pay attention so much to the national news, you know, as far as, you know, both real estate thing and the economy overall,” Cook said. “It’s a factor, but, you know, it’s kind of like what they say with the realtor ads, you know, ‘All real estate is local.’”

The Iowa Association of Realtors said, as of December, the average days on the market for a house in Iowa was 112. That’s the same as it was in 2010, according to the association.

Ruhl&Ruhl REALTORS completely supports Rob’s statement and so do the numbers! Check out our latest Facts&Trends edition coming out the first week of February.  If you would like to recieve Facts&Trends please visit RuhlHomes.com.

Article provided by: KWWL.com

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Is the Real Estate Market a Good Return on Investment?

Tuesday, November 8th, 2011

Words can not the answer to the question above.  Only a very strong photo that was provided to us by MSN money. . .

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America’s Top 10 States For Business in 2011

Tuesday, September 27th, 2011

Let’s face it, in these economically trying times going to a state that is conducive for conducting business is vitally important. If you are looking for work it does not make a great deal of sense going to a state that hinders a businesses ability to succeed.

Likewise, buying a house in a good business environment makes a lot more sense than doing so where businesses will be struggling. So if you are thinking of moving to a state that is favorable for business this list by CNBC is a very smart tool to use.

Virginia came in as the top state. With it’s pro-business state house and proximity to Washington DC, where growth in government spending has created it’s own jobs engine, Virginia is for business lovers. Texas is in second place, with southern states Georgia, North Carolina, and Colorado rounding out the top 5. The only northeast member of the list Massachusetts comes in 6th owing mainly to it’s educated workforce.

The remaining states on our top 10 list are heartland states; Minnesota, Utah, Iowa, and Nebraska. The worst state in the country is Rhode Island with Alaska not far behind.

So if you are starting a business, looking for a job, or interested in investing in real estate, check out this list of the …
Top 10 States for Business in America for 2011

 

  1. Virginia
  2. Texas
  3. North Carolina
  4. Georgia
  5. Colorado
  6. Massachusetts 
  7. Minnesota
  8. Utah
  9. Iowa
  10. Nebraska

For More Information keep checking RuhlHomes.com

Originally Published by: The Real Estate Bloggers

 

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Home Prices Stable in Our Markets

Wednesday, August 17th, 2011

Our markets continue to be shielded from the rest of the country’s harsh decline in home prices, with our markets seeing a distinct increase, especially in the Quad Cities and Dubuque.       

Nationally home prices have fallen 17.50% in the last five years, but all of our markets’ home prices are up: 8.51% in Dubuque; 6.35% in the Quad Cities; 3.68% in Iowa City; and 2.73% in Cedar Rapids.

According to the Federal Housing Finance Agency, of the 309 MSA’s (Metropolitan Statistical Areas) ranked by home price appreciation, all of our markets in eastern Iowa ranked in the top 30% in the nation – Dubuque at 11th; Quad Cities at 30th; Cedar Rapids at 79th; and Iowa City at 92nd.

Analysts attribute national declines to the many foreclosures and short sales, as our markets have not been badly impacted as compared to the rest of the country. Local markets continue to provide a much more stable environment for purchasing homes and investing in real estate.

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 285 sales associates and 50 employees based in sales offices located in Bellevue, 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 and land sales, senior services, real estate investment, property management and mortgage services through 1862 Mortgage and insurance services through the Nelson Ruhl Agency.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com.

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5 Real Estate Headlines You’ll See in the Next Six Months

Thursday, July 14th, 2011

Making predictions can be the ‘kiss-of-death’ for a blog. Even if we get four out of five correct (80%), there are those in the industry who will kill us on the one we got wrong. We believe strongly that when making a real estate decision for you and your family you must look forward and take into consideration how the housing market may change.

For this reason, we are willing to take on the possible wrath of our counterparts by sticking out our necks and predicting these will be the major real estate news stories from now until the end of the year.

Interest Rates Rise

Many, including us, have been surprised that rates have not risen already. However, the next several months are going to see three distinct changes that will propel rates upward.

  1. As the government starts to leave the mortgage market, private industry will step in. Private industry demands a higher rate of return on their investments. Mortgages will be no different. Studies have shown that 30 year mortgage rates could increase by 1 to 3% over the current rate.
  2. In many higher priced markets, rolling back Conforming Loan Limits means that rates for the mortgages on these properties will resort back to the rates on private jumbo loans. The FHFA informed us that last year, the difference between mortgage rates for jumbo loans and jumbo-conforming mortgages has varied between about ½ and ¾ of a percentage point.
  3. As the economy gets better (and we believe it will), the pressure to keep rates low to stimulate growth will abate.

Some Loan Requirements Tighten but More Can Now Get a Loan

Lending institutions have already started to introduce stricter mortgage guidelines. Whether the Quality Residential Mortgage (QRM) requirements are instituted as originally proposed or eased somewhat, there is no doubt that guidelines will continue to tighten as we work through the year. However, we believe the private sector will again start introducing alternative mortgage financing but at a greater expense to the consumer. You WILL be able to get a mortgage. It will just cost you more.

Housing Sales Increase

Contracted sales have shown consistent improvement over the last six months and we feel this will continue and actually begin gaining even greater momentum. We believe there is a ‘pent-up’ buying demand caused by the volatility of the market over the last several years. When interest rates start to move upward and alternative financing becomes more available, these buyers will start to jump off the fence. We believe there will be a major upswing in sales over the next six months.

Distressed Properties Increase Markedly 

More people are paying their mortgage on time and that is great news for housing in the long term. However, the numbers of distressed properties currently in the foreclosure process is still very swollen. These properties will begin coming to the market in the second half of the year as short sales and foreclosures. The numbers will be staggering in some areas.

Prices Continue to Soften in Most Markets 

The current housing inventory for sale and the distressed properties about to come on the market will vastly outnumber the increased supply of purchasers we will see over the next six months. There will be more houses for sale then there will be buyers purchasing them. That oversupply will continue to put downward pressure on prices through the rest of this year and into 2012.

Ruhl&Ruhl has now stepped out and spoke up on what we think consumers will see in the housing market in the next six months.  What headlines do you predict?

For more information on the housing market please visit RuhlHomes.com.

Provided by: KCM Blog

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A Window of Opportunity for House Sellers

Friday, June 24th, 2011

There has been much confusion as to where housing prices are headed. We have actually blogged on the issue recently. Today, we want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in which to sell their homes for maximum price. We believe there will be increased downward pressure on home prices later this year and the first half of 2012.

Why renewed downward pressure?

Any item’s price is determined by ‘supply and demand’. In many parts of the country existing housing inventory is already high and actually increasing. In addition, an inventory of distressed properties (foreclosures and short sales) will be coming to market later this year. This inventory has been delayed for the last several months because of faulty paperwork by the banks when they originally attempted foreclosure proceedings on these homes.

Celia Chen, of Moody’s Analytics explains:

“Foreclosures are weighing on the outlook for U.S. house prices, and the slow resolution of issues surrounding the so-called robo-signing scandal is keeping distressed homes off the market”.

The New York Times also recently reported on this issue. They looked at the delays in certain states. As an example, this is what they found in New York:

“Last September, before the documentation crisis, nearly 1,500 New Yorkers lost their houses as a result of foreclosure, according to LPS. The average over the last six months: 286. That is far lower than at any point since the recession began.”

Banks are now correcting these errors.

There is evidence that the banks are getting their documentation in order and about to again increase their foreclosure repossessions. Housing Wire reported:

“Since major lenders delayed foreclosures to fix a broken process late last year, the amount of filings declined, but in May signs emerged the effect might be wearing off.”

They went on to quote RealtyTrac CEO James Saccacio:

“…lenders are somewhat unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures and as they determine that some local markets are able to absorb more foreclosure inventory… Foreclosure processing delays continue to mask the true face of the foreclosure situation, although there were some clues in the May numbers of what lies behind that mask.”

What will this mean to home prices?

As this inventory comes to market, it will impact prices in two ways:

  1. It will provide discounted competition for buyers
  2. It will impact the appraisal values of all homes in the area

Again, we quote Celia Chen:

“It is quite possible that house prices will pick up slightly in the second or third quarter of this year, as foreclosure sales remain depressed while nondistress sales pick up…By the fourth quarter of this year, however, the distress share will rise, sending the house price index back down…

House prices will founder until early next year and start rising in earnest at the end of 2012.”

Bottom Line

There is a window of opportunity currently which sellers should take advantage of. Waiting until later this year or until next year will not guarantee a higher sales price. If anything, it probably guarantees the exact opposite.

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

Provided By: KCM Blog

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Will Falling Values Lead to More Strategic Defaults?

Tuesday, June 21st, 2011

As prices continue to soften, more and more homeowners will fall into a position of negative equity on their homes. This means that the balance on their mortgage is greater than the value of their home. The reason this is important is that people are more prone to strategically default on their mortgage when ‘underwater’.

What is a strategic default?

Let’s first define strategic default in simple terms. According to Wikipedia:

A strategic default is the decision by a borrower to stop making payments (i.e. default) on a debt despite having the financial ability to make the payments.

This is particularly associated with residential and commercial mortgages, in which case it usually occurs after a substantial drop in the house’s price such that the debt owed is (considerably) greater than the value of the property – the property negative equity or “underwater” – and is expected to remain so for the foreseeable future, such as following the bursting of a real estate bubble. Such borrowers are called “walkaways.” 

This definition itself serves as the explanation as to why people will default.

How do Americans view strategic default?

In Fannie Mae‘s recent National Housing Survey, they shed some light on American’s thoughts on strategic default.

  • The number of underwater homeowners who believe it is okay to default on your mortgage if you are under financial distress has almost doubled in the last twelve months (14% to 27%).
  • 47% of people that are underwater and behind on their mortgage have considered strategic default.
  • Those who know a strategic defaulter are more likely to have considered defaulting.
  • 1 in 5 Americans knows a strategic defaulter

Bottom Line

As more people enter into negative equity, more will be tempted to ‘walk away’ from their mortgage obligations. If they do walk, that will increase the number of homes entering foreclosure.

Keep checking RuhlHomes.com for more information on the housing market.

Provided By: KCM Blog

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Ruhl&Ruhl REALTORS Ranked Iowa’s Largest Privately Owned Real Estate Company

Monday, April 18th, 2011

Ruhl&Ruhl REALTORS was just ranked the largest privately-owned real estate company in Iowa, according to RISMedia’s 23rd Annual 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 92nd in the country for the number of transactions, which was 3,889 in 2010, and 160th in the country for our sales volume, which was $562,235,310.

Other Iowa Companies Ranked as follows:

Company Name Transactions Rank Sales Rank Transactions Sales Volume Total Offices Total Agents
Ruhl&Ruhl REALTORS 92 160 3,889 $562,235,310 10 251
Mel Foster Co., Quad Cities 113 193 3,369 $470,086,782 9 251
Skogman Realty, Cedar Rapids 152 222 2,702 $418,588,110 5 217
Coldwell Banker Mid-America Group, REALTORS, Des Moines 159 228 2,638 $412,640,844 5 205

 

“While business was down in most of our markets and at most competing real estate companies, business was up at Ruhl&Ruhl,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS, adding that the company had 3.2% more transactions in 2010 than in 2009 and sales volume grew 2.6% from 2009 to 2010.

On average, Ruhl&Ruhl agents sold 15.5 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 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 265 sales associates and 50 employees based in sales offices located in Bellevue, 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 and land sales, senior services, real estate investment and mortgage services through 1862 Mortgage and insurance services through Nelson Brothers Insurance.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com.

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Fannie Mae Announces 3.5% Buyer Assistance on REO Properties

Wednesday, April 13th, 2011

Fannie Mae announced Monday that borrowers purchasing a Fannie Mae-owned property through HomePath, the GSE’s REO disposition operation, will receive up to 3.5 percent in closing cost assistance.

The initial offer must be submitted on or after April 11, 2011, and the sale must close on or before June 30, 2011 to be eligible for the incentive. Fannie Mae said it can give no assurance on the time required to close, but initial offers submitted after May 15, 2011 are particularly questionable for closing by the incentive deadline of June 30.

To qualify, buyers must reside in the home as their primary residence; sales to investors are excluded.

“Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover,” said Terry Edwards, EVP of credit portfolio management at Fannie Mae.

“Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance,” Edwards added.

In Arizona and Texas, there will be a $500 bonus available for selling agents whose buyers purchase and close on a HomePath property by June 30, 2011, and meet the terms and conditions of the closing cost incentive.

Retail and public entities are also eligible for the special buyer-assistance offer; however pool and auction sales are not eligible.

The D.C.-based government-backed mortgage firm rolled out a 3.5 percent subsidy for REO buyers in January of last year. Fannie Mae says it has seen considerable success with the program and as a result, has extended or restarted the temporary buyer assistance incentive several times – a strategy aimed at helping the GSE unload a bloated supply of repossessed homes.

The company acquired 262,078 single-family REO properties through foreclosure in 2010, compared with 145,617 in 2009. As of December 31, 2010, the company’s inventory of single-family REO properties was 162,489. Fannie says the carrying value of the company’s single-family REO was $15 billion as of the end of last year.

All Fannie Mae-owned REOs are listed on HomePath.com and most listings include detailed property descriptions, photographs, and community and school information.

Many Fannie Mae-owned properties are also eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

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

Information provided by: Fannie Mae

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