Posts Tagged ‘selling’
Thursday, May 26th, 2011
Banks have become very conservative when lending mortgage money today. With the current foreclosure challenges in the country, we can’t really blame them. The requirements now necessary to qualify for mortgages have gotten much more stringent and it seems will get even more stringent as we move forward. The banks want to make sure the prospective buyer has the ability to repay the loan. However, this does not just involve the borrower buying the property.
The second way a bank can protect their investment in the mortgage is to make sure that the collateral backing that mortgage is secure. That is where the appraisal comes in. The bank wants to make sure that, should the buyer not be able to make their payments, the house they will be forced to take back will sell for an amount at least equal to the balance left on the mortgage. For that reason, the banks seem to be getting more conservative with appraisals also.
This past week, the National Association of Realtors (NAR) released their Existing Homes Sales Report. In that report, they said:
“11 percent of Realtors® report a contract was cancelled in April from an appraisal coming in below the price negotiated between a buyer and seller, 10 percent had a contract delayed, and 14 percent said a contract was renegotiated to a lower sales price as a result of a low appraisal.”
One out of four real estate transactions was either cancelled (11%) or renegotiated to a lower sales price (14%) because of a low appraisal!!
Bottom Line
Every house now has to be sold twice: first, to a potential purchaser and then to the bank appraiser. And, it seems that the second sale may be the more difficult of the two. Sit with a local real estate professional and make sure you put together a plan for both sales.
Keep checking Ruhlhomes.com for the most up to date information on the housing market.
Provided By: KCMBlog
Tags: agents, Appraise, appraising a home, Building, buying, Buying a Home, caroline ruhl, first time buyers, home, home appraisals, home buyer programs, home search, housing market, illinois real estate, Illinois Real Estate Market, iowa real estate, iowa real estate communities, Iowa Real Estate Market, quad cities, Quad Cities Real Estate, Quad Cities Real Estate Market, quad city, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Market Share, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling your home
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Tuesday, May 10th, 2011
One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365 days a year!
And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed increases in six of the last nine months prompting Lawrence Yun, NAR’s chief economist to say:
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely.”
We realize that 40% of the sales are distressed properties and that 22% of buyers are investors. Yet, that still doesn’t negate the fact that homes are in fact selling… and 60% of them are NOT foreclosures or short sales.
And Yun believes this uptick will continue:
“Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year.”
Bottom Line
Homes are selling. You probably will need to offer a compelling price if you put your house on the market. But if you do, it will sell.
Keep checking RuhlHomes.com for the most up-to-date information on the housing market.
Provided by: KCM Blog
Tags: agents, buying, Buying a Home, caroline ruhl, first time buyers, home buyer programs, housing market, ia, il, illinois real estate, illinois real estate communities, Illinois Real Estate Market, iowa real estate, iowa real estate communities, Iowa Real Estate Market, quad cities, Quad Cities Real Estate Market, quad city, Real Estate, Real Estate News, Real Estate Sales Volume, realtors, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling
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Friday, April 29th, 2011
According to data provided by Realtor.com, Iowa City, Iowa is one of the 11 cities that homes are selling the fastest! With a very high median sales price and average days on the market a mere 66 this may be the right time, if you were thinking about selling your home.
California boasted the highest number of cities where homes tended to spend the shortest amount of time on the market last month.
In these 11 cities, the median for days on the market was 160 in March, which is a positive increase of 40 percent from March of 2010.
Here is a list of the cities with the fewest median days on the market from March:
Oakland, Calif.
Median days on the market: 50
Median list price: $319,000
San Francisco
Median days on the market: 63
Median list price: $639,000
Denver
Median days on the market: 66
Median list price: $259,900
Iowa City, Iowa
Median days on the market: 66
Median list price: $187,500
Los Angeles-Long Beach, Calif.
Median days on the market: 70
Median list price: $345,000
Stockton-Lodi, Calif.
Median days on the market: 70
Median list price: $175,000
Bakersfield, Calif.
Median days on the market: 70
Median list price: $141,500
San Jose, Calif.
Median days on the market: 71
Median list price: $470,000
Anchorage, Alaska
Median days on the market: 71
Median list price: $279,975
Fresno, Calif.
Median days on the market: 71
Median list price: $170,000
Tulsa, Okla.
Median days on the market: 71
Median list price: $147,900
Please contact Ruhl&Ruhl REALTORS today if you are interested in buying or selling a home, or visit RuhlHomes.com.
Some information and statistics provided by Realtor.com
Tags: agents, buying, Buying a Home, caroline ruhl, eastern iowa, first time buyers, home, home search, housing market, ia, iowa city area, Iowa City homes sales, Iowa City Market Share, iowa real estate, iowa real estate communities, Iowa Real Estate Market, Real Estate, Real Estate News, Real Estate Sales Volume, realtors, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling your home, Selling your home in Iowa City
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Friday, April 15th, 2011
I was in a conversation with one of the most productive agents in our area recently and he told me that there were “no homes for him to sell”. I thought he had a brain cramp. Look at all the ‘For Sale’ signs, all the homes on MLS, all the short sales and foreclosures plus the entire shadow inventory on its way. Had this respected agent lost his mind?
As he saw the puzzled expression on my face (which was his intent), he began to explain that every home that is priced correctly is being gobbled up by buyers right away. The only homes that remain on the market for more than 30 days are the ones where the price doesn’t COMPEL a buyer (even multiple buyers) to make an offer.
I pondered his assertion for a while and his premise began to make more and more sense because I am witnessing:
Increased attendance at Open Houses. Buyers are coming out to look because they know now is the time to buy (great interest rates with higher rates around the bend, huge inventory available, etc.)
Realistic sellers (in terms of asking price) are getting significantly more traffic. This results in an increase in interested buyers; more interested buyers push prices higher. By adjusting prices, many sellers are getting higher offers. By remaining overpriced (and hoping to negotiate down), other sellers are seeing no traffic and no offers.
Why are there record numbers of homes on the market when the properly priced homes are being gobbled up (some at even higher than the listing price)? Because there is a huge difference between a home ‘being on the market’ and a home that is seriously ‘for sale’. Sellers who are serious about selling are aggressive with pricing because that is how you gain the highest price. A little counter-intuitive maybe; but, it’s very true.
Pricing is the centerpiece of your real estate agents marketing plan (although not the only component). The marketing plan should be designed to drive as many qualified buyers to see your home because THAT is the single most important factor in getting the most money – the number of people bidding. My advice is to give yourself the best chance for highest bids by pricing the home at a compelling number.
Keep checking RuhlHomes.com for the most up to date information on the real estate market.
Provided by: KCM Blog
Tags: agents, buying, Buying a Home, caroline ruhl, first time buyers, home, home buyer programs, home search, housing market, illinois real estate, Illinois Real Estate Market, iowa real estate, Iowa Real Estate Market, quad cities, Quad Cities Real Estate, Quad Cities Real Estate Market, quad city, Real Estate, realtors, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling your home
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Friday, April 1st, 2011
Ruhl&Ruhl REALTORS has adopted some new technology to create QR codes, which look similar to a barcode, for all Ruhl&Ruhl listings, allowing our Realtors to market our listings even more effectively.
Ruhl&Ruhl’s QR codes will contain the basic information such as price and square footage on the home, address of the home and the real estate agent’s contact information. Although this is still early technology, Ruhl&Ruhl REALTORS is quickly taking speed and finding smart innovative ways to use this new piece of technology.
You may have noticed these little squares popping up on marketing pieces, billboards and newspaper advertisements. A QR Code (short for Quick Response) was created to allow its contents to be decoded at a high speed. A QR code is a specific matrix barcode (or two-dimensional code), readable by dedicated QR barcode readers and camera phones.
Common in Japan, where it was created by a Toyota subsidiary Denso-Wave in 1994, initially it was created for tracking parts in vehicle manufacturing. QR codes are now being used on a much broader spectrum; most popular is containing a URL. QR codes containing URL’s may appear in magazines, on signs, buses, business cards, or on just about any object about which users might need information.
Consumers with camera phones equipped to read a QR code (with a QR code reader) can take a photo of the image and the QR code reader will scan the image and display text, contact information, connect to a wireless network, or open a web page in the phone’s browser; whatever secret information the QR code contained. QR codes are becoming increasingly innovative and more and more ideas for their use are becoming a reality. With the adoption of the QR code taking off, many Android, Nokia and Blackberry phones are coming with QR code readers pre-installed. QR reader software is available for most phones with internet access and a camera phone.
Ruhl&Ruhl is always striving for new, easy to use technology to make searching for your next home as easy as possible. This is also another Ruhl&Ruhl advantage for selling your home, a great way to get the information out on your home to as many people and places as possible.
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, property management 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 .
Tags: agents, caroline ruhl, home search, home technology, housing market, illinois real estate, iowa real estate, new technology, qr codes, quad cities, Quad Cities Real Estate, quad city, Real Estate, realtors, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, selling, selling your home, technology in housing market
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Friday, February 18th, 2011
The conventional wisdom when selling a home has always been to wait until the ‘Spring Buying Season’. Over the years, that has seemed to make sense and is now accepted as a good strategy for those who want to sell their house and receive the best possible price. This real estate market has shattered many previously held beliefs. The wisdom of waiting for a spring market is another belief that is about to fall. Here are five reasons why?
1.) Interest Rates Are On the Rise
Interest rates have spiked up rather dramatically over the last ninety days and are now over 5%. Initially, an increase in rates has a positive effect on the market as it forces buyers off the fence. However, it also eats into a buyer’s purchasing power. As rates increase, the mortgage amount a buyer qualifies for decreases. This will eventually have a negative impact on prices.
2.) Your Dream Home Will Never Be Cheaper
If your family goal is to sell your current house and take advantage of the fabulous selection of properties currently available to buy the home of your dreams, DO IT NOW! Prices will continue to soften in most markets. However, if you are buying, COST should be more important than PRICE. Cost can be dramatically impacted by rising mortgage interest rates. Do the math and decide if now is the time.
3.) Buyers Are Out Early
There is mounting evidence that buyers are coming out earlier this year. A belief that now is a good time to buy coupled with the increase in interest rates has started the buying season early.
The National Association of Realtors just reported that the number of house sales increased 12.9% over last month.
4.) Inventory Increases Every Spring
Every year there is an increase of inventory which comes to market as we approach the spring. Here is the number of listings available for sale in 2010.
- February – 3,531,000
- March – 3,626,000
- April – 4,029,000
We believe there will be an increase in these numbers in 2011 as there is a pent-up selling demand created by the weak market of the last few years. You won’t have to worry about this increasing competition if you sell now.
5.) We Are in the Eye of the Foreclosure Storm
While banks are trying to rectify their foreclosure procedures, there is a large supply of discounted properties which has been delayed coming to market. This inventory will be released sometime in the next few months. Foreclosures sell on average at a 41% discount. When released they will be competing with your house for the buyers in the marketplace. If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.
CNN Money quoted the leadership Of RealtyTrac on this issue:
“We’ve now seen three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months where the total exceeded 300,000,” said James Saccacio, CEO of RealtyTrac.
“Unfortunately,” he added, “This is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures, resubmitting paperwork and formulating legal arguments related to accusations of improper foreclosure processing.”
“We expect a spike in the first quarter,” said Rick Sharga, a RealtyTrac spokesman.
Bottom Line
These are five strong reasons to sell now instead of waiting until later in the year. Sit down with a local real estate professional today and decide the best options for you and your family.
Ruhl&Ruhl REALTORS would be happy to help you with your decision. If you do decide now is the time to buy we can help! Contact us in any one of our 10 real estate offices ranging from markets in the Quad Cities to Iowa City.
Tags: agents, buying, Buying a Home, caroline ruhl, davenport, eastern iowa, first time buyers, home, home buyer programs, home buyers, home search, housing market, housing sales, ia, il, illinois real estate, illinois real estate communities, Illinois Real Estate Market, iowa city area, iowa real estate, iowa real estate communities, multiple listing service, New Construction Home Sales, quad cities, Quad Cities Real Estate, Quad Cities Real Estate Market, Real Estate, Real Estate Sales Volume, realtors, regional markets, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Market Share, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling your home
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Tuesday, February 1st, 2011
The National Association of Realtors (NAR) has been reporting great news recently. Last week’s Existing Home Sales Report and this week’s Pending Sales Report both showed consecutive months of increases in the number of homes sold. Finally, buyers are jumping off the fence and taking advantage of one of the most opportune times to purchase a home in America’s real estate history. With an increase in demand, price appreciation can’t be far behind, can it?
Actually, the answer is NO! Prices are not determined by demand alone but in the relationship of demand to available supply. The inventory of homes for sale is still too high and about to surge higher. Along with the news of increased demand yesterday, RealtyTrac released their 2010 Year-End Metropolitan Foreclosure Market Report. The report showed that distressed properties across the country are on the rise:
… foreclosure levels remained five to 10 times higher than historic norms in most hard-hit markets, where deep fault lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond.
The report also explained that the foreclosure epidemic is spreading to more and more of our communities:
… foreclosures became more widespread in 2010 as high unemployment drove activity up in 72 percent of the nation’s metro areas — many of which were relatively insulated from the initial foreclosure tsunami.
What does this mean for prices?
Here are a few quotes from this week.
Washington Post:
The closely watched S&P/Case-Shiller report shows that housing prices, compared year-over-year, have declined nationally for six consecutive months. The downward path suggests that housing prices could, by spring, hit their lowest level since April 2009, said David Blitzer, the index committee’s chairman.
New York Times:
A new slide in housing prices has begun in earnest, with averages in major cities across the country falling to their lowest point in many years.
CNN Money:
Barclay’s Bank analyst Theresa Chen doesn’t expect a reversal in housing market trends any time soon, since there is no end in sight to the foreclosure crisis.
“We expect softness to persist,” she said, “as home prices continue to face headwinds from the large pipeline of foreclosures entering the market.”
Housing Wire:
“… we believe that home prices will continue to weaken on a month-over-month basis until spring, and a year-over-year basis through the end of 2011,” the Radar Logic said.
Bottom Line
Prices will continue to soften in the first half of 2011 in most regions of the country. This information should be taken into consideration if you plan on selling your house in the next twelve months.
Keep checking RuhlHomes.com for the most up to date information on the real estate market!
Originally Published By: KCM Blog
Tags: 2011 home sales, 2011 housing market, 2011 market, agents, buying, caroline ruhl, davenport, eastern iowa, home, home prices, home search, housing market, housing prices, ia, il, illinois real estate, Illinois Real Estate Market, iowa real estate, Iowa Real Estate Market, multiple listing service, quad cities, Quad Cities Real Estate, Quad Cities Real Estate Market, Real Estate, Real Estate News, Real Estate Sales Volume, realtors, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling incentive
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Wednesday, January 19th, 2011
Our agents are experts because we learn from experts. View one of our instructors on Fox and see what he says about now being the time to SELL!
Keep checking RuhlHomes.com for the most up to date information on the real estate market!
Steve Harney on Fox Business News from Steve Harney on Vimeo.
Tags: agents, buying, caroline ruhl, Fox News, home search, housing market, illinois real estate, Illinois Real Estate Market, iowa real estate, Iowa Real Estate Market, quad cities, Quad Cities Real Estate, Real Estate, real estate experts, Real Estate Sales Volume, realtors, regional markets, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling, selling your home, steve harney, time to sell
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Monday, November 8th, 2010
Whether to move or improve is a harder question to answer than it was a few years ago, but a few cost-benefit calculations can help you make the right decision.
Moving has gotten harder. With median housing prices down 25% since their peak in 2006, some 15 million homeowners—almost one in four—owe more on their mortgages than they could get from a buyer, according to Celia Chen, senior director of Moody’s Economy.com. And even folks who bought before the big run-up and can afford to sell at today’s lower prices still face steep odds trying to unload their homes with the glut of inventory on the market (36% more lawns wear For Sale signs now than a few years ago). There was an uptick in units sold in early 2009, leading some economists to predict that the market has begun to rebound, but selling a house is likely going to remain difficult for a while.
Still, there can be an advantage to trading up now: If your house has curb appeal and a good kitchen—and you price it right—offers will come. You may not turn a big profit, but once you sell, you become a buyer in this buyer’s market. That means you’ll find what you’re looking for and pay less for it than a few years ago.
To analyze your trade-up options, check local listings to ballpark the price you could realistically get for your home and what you’d have to pay for the next place. Then contact a bank to see if, based on those figures and your financial situation, you’re likely to qualify for the new mortgage. Or do your research online: Investigate home values at online real estate sites and how much of a mortgage you’d qualify for.
Improving has gotten easier. The economic slump has actually made renovating the home you already own a bit easier. The construction-industry slowdown has lowered the cost of some building materials: Plywood is down 46%, for example, framing lumber is down 42%, and drywall is down 25%. Many contractors are also charging less for labor, to compete for the smaller pool of available jobs. What’s more, you won’t have to wait months for a contractor to show up—chances are he’ll be able to start in a matter of days.
Of course, you’ll still need to come up with cash to pay for the project. And the news is good there, too: As a general rule, improving costs less than trading up. Figure somewhere between $100 and $200 per square foot for new construction or a major remodel, depending on the scope of the project and labor costs in your area.
Now more than ever, though, you need to make sure that you invest your money wisely. In other words, will your $75,000 kitchen remodel increase your home value by $75,000—or by anything close?
To assess what’s right for your particular house, let your neighborhood be your guide. If there’s any chance that you’ll move within the next 10 years (and in this economy, who can be sure?) keep your improvements in line with those of other houses on your block, or you risk losing the money when you sell.
The most important considerations haven’t changed. Your house isn’t just your largest investment; of course, it’s also the place where your family lives. Financial considerations aside, the question of whether to move or improve should be decided by the things you cannot change about your current home: the school district, the amount of traffic on your street, the size and layout of your yard, your commute, the ease of access to markets and malls, and your neighborhood quality of life. If you love the spot, improving makes sense. But if a different location would be an improvement in its own right, then trading up could be the way to go.
Keep checking RuhlHomes.com for the most up to date information on the real estate market.
Provided By: HouseLogic.com
Tags: agents, Building, buying, caroline ruhl, davenport, first time buyers, home, home buyer programs, Home Improvement, home search, housing market, illinois real estate, Illinois Real Estate Market, iowa real estate, Iowa Real Estate Market, moving vs. resale, multiple listing service, new construction, New Construction Home Sales, quad cities, Quad Cities Real Estate, Quad Cities Real Estate Market, re sale volume, Real Estate, Real Estate Sales Volume, realtors, regional markets, Resale Volume, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Market Share, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling
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Wednesday, October 27th, 2010
We’re there! Most economists are saying the economy has bottomed out. Seize the opportunity while interest rates are at a 50 year low. (Today, as I write this article, October 12th, interest rates are at 4.125% for a 30-year loan with no points and at 3.75% for a 15-year loan with no points. And for smart people who refinance from a 30-year loan to a 15-year loan, borrowers can pay about 60% less interest over the life of the loan and build their equity faster.)
With what we know today, how many times have you kicked yourself because you could have bought a property in the past? I just told my CFO these rates and heard him say he’s considering refinancing his house at 3.75% to buy a rental property. This is an opportunity not to be missed.
The Next Six Months – Sellers Must Have Compelling Pricing
The next six months will be challenging for sellers and Realtors, but will present the best opportunities for buyers and investors. By next spring we anticipate the economy will stabilize, consumer confidence will be bolstered by job increases, and prices hopefully will have bottomed out and turned upward in some markets and price ranges.
Most of our markets are buyer’s markets, which is defined as a market in which there is more than six months of inventory. Prices tend to fall if there is too much inventory. If there are 0 – 3 months of inventory, that is a seller’s market and homes are appreciating, while 4 – 6 months of inventory is considered a balanced market and prices are stable.
Here is a sampling of our markets’ months of inventory, also referred to as absorption rates: Market Months of Inventory
Cedar Rapids 8.8 months
Clinton/Camanche/Fulton 9.8 months
Dubuque 7.8 months
Iowa City 16.6 months
Iowa Quad Cities 6 months
Illinois Quad Cities 8 months
Muscatine/Wilton 8.5 months
Each market also varies significantly based on price range, new construction versus existing properties, neighborhoods, condos versus single family homes, etc. Sellers and buyers need to work with their Realtors to make educated pricing decisions based on months of inventory in their niche markets.
In Order For a Property to Sell, It Must Have Compelling (not Competitive) Pricing
Compelling pricing has a powerful and irresistible effect; it commands attention, admiration and respect. It is convincing, persuasive and undeniable, which makes it “the pick of the litter.” Competitive pricing is a reasonable, viable and good price. But it’s also in line with the price of many other properties with similar features, which makes it part of the “sea of sameness.” Sellers must ask their Realtors how to make their price a compelling price that buyers won’t be able to resist.
Be Prepared for More Negative Media
Be prepared for more negative media reports on the housing market, and do not take the headlines and stories at face value. Sales in the past 18 months have been totally manipulated by tax credits. So the media will compare unseasonably great sales last year in September, October and November – just prior to the expiration of the tax credit on November 30, 2009 – to this year’s fall sales, which will be more “normal.” They will make it sound awful, when in fact last fall’s numbers were inflated.
Likewise, because of the 2010 tax credit that required deals be written by April 30th and closed by June 30th, many sales were accelerated into the first half of 2010, reducing the number of sales in the fall. Responsible media must do their homework and provide the necessary interpretation of the data. Realtors can help the public make good, data driven decisions.
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 www.RuhlHomes.com.
Tags: agents, Building, buying, caroline ruhl, davenport, eastern iowa, first time buyers, home, home buyer programs, home search, housing market, ia, il, illinois real estate, illinois real estate communities, iowa real estate communities, Iowa Real Estate Market, multiple listing service, new construction, New Construction Home Sales, Quad Cities Real Estate, Quad Cities Real Estate Market, Real Estate, Real Estate News, Real Estate Sales Volume, realtors, regional markets, resession, ruhl, Ruhl and Ruhl, ruhl&ruhl, Ruhl&Ruhl Market Share, Ruhl&Ruhl Realtors, RuhlHomes, sales volume, selling
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Banks have become very conservative when lending mortgage money today. With the current foreclosure challenges in the country, we can’t really blame them. The requirements now necessary to qualify for mortgages have gotten much more stringent and it seems will get even more stringent as we move forward. The banks want to make sure the prospective buyer has the ability to repay the loan. However, this does not just involve the borrower buying the property.
