Iowa Quad Cities Affordable Homes - Sleepy Hollow
Everything points to the Iowa Quad Cities continuing to be one of THE BEST housing markets in the USA, and AFFORDABLE HOMES are what we are all about. The Davenport area local real estate facts, trends, and analysis still show that in our local residential real estate market, there is almost NEVER a bad time to buy.
CHECK IT OUT, NATIONALLY, ON: http://www.marketwatch.com/news/story/five-reasons-buying-house (Wall Street Journal - Market Watch, by Amy Hoak)
CHECK IT OUT, LOCALLY, ON: http://www.ruhlhomes.com/factsandtrends - - (2009-1 & 2008-Fall, by Caroline Ruhl)
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WALL STREET JOURNAL SAYS: Reason #1: “Affordability is better than ever — According to the National Association of Realtors housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970.”
CAROLINE RUHL SAYS: “We are the 3rd most affordable housing market in the country.”
WALL STREET JOURNAL SAYS: Reason #2: “You have a large inventory to choose from.” — “But if you put off a purchase until inventory shrinks substantially, you might not get as good a price”, — said Eddie Fadel, author of the book “Don’t Rent, Buy!”
CAROLINE RUHL SAYS: “Iowa Quad Cities - - Listing Inventory — There were 976 homes and condominiums listed for sale as of December 31, 2008, which is a 7% decrease from last year when there were 1,055 properties for sale.” (NATIONALLY, THE OPPOSITE OF OUR MARKET!).
WALL STREET JOURNAL SAYS: Reason #3: “Builders are offering big discounts. –Home builders are getting even more aggressive with their pricing. In fact, Fadel recommends looking at completed new homes first because builders are offering such steep discounts. Plus, you’d have a warranty not only on the home itself, but also on the home’s appliances –.”
CAROLINE RUHL SAYS: “The average sales price in the Iowa Quad Cities fell by less than 1%, from $164,800 in 2007 to $164,200 in 2008″. (NATIONALLY, DRAMATICALLY DIFFERENT FROM OUR MARKET!)
WALL STREET JOURNAL SAYS: Reason #4: ”Mortgage rates are historically low.”
CAROLINE RUHL SAYS: “There is plenty of mortgage money available. Contrary to whah one is led to believe by the national media, mortgage money is readily available in our region. So long as a prospective buyer has paid their bills, can document their income and has a decent credit score, they can get a mortgage. FHA requires a 3-1/2% down payment and investors typically need a 20% down payment now. But interest rates are great!”
WALL STREET JOURNAL SAYS: Reason #5: ”You can get a federal tax credit – There’s now a federal credit of up to $8,000 for home buyers who haven’t owned a home in at least three years — ‘The more Washington gives, demand will increase,’ says Flint-Budde. — ‘The more Washington gives, demand will increase’, says Fadel.”
CAROLINE RUHL SAYS: ”Visit our website at RuhlHomes.com for real estate listings and community information.” More specifically, go to www.ruhlhomes.com/sleepyhollow or to www.ruhlhomes.com/harmonylake or http://lakehouse.com/page-64302.html
Teak Floor (Over Twice the Hardness of Oak)!
