Real Estate Press Room

The Ruhl&Ruhl Press Room is designed for the public and members of the media seeking information on Ruhl&Ruhl REALTORS, as well as housing reports and home sales statistics in Eastern Iowa, Western Illinois and Southwest Wisconsin. Check back for the lastest real estate facts and trends.

Latest News

July 16, 2010

Mike Wendt Assumes Role as Ruhl&Ruhl General Sales Manager

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, is pleased to announce that Michael R. Wendt II has assumed the role of Ruhl&Ruhl General Sales Manager.

Wendt, who has worked at Ruhl&Ruhl for two years as the Legal Compliance and Customer Relations Manager, will continue his current duties for the company in addition to being the direct report for Ruhl&Ruhl office managers.

“We are pleased that Mike is stepping up to a new challenge,” Ruhl said. “He has demonstrated his tremendous skills and knowledge, which make him well-suited for this new role.”
 
Prior to his position at Ruhl&Ruhl, Wendt was an associate with the law firm of Califf & Harper, P.C. in Moline. He received his undergraduate degrees from Drake University in 1997 and his Master’s Degree in Urban and Regional Planning, as well as his M.B.A. focusing on Real Estate Finance, from the Henry B. Tippie School of Management at the University of Iowa in 1999. In 2005 he received his Law degree from the University Of Illinois College Of Law, and joined the Illinois Bar in 2005, and the Iowa Bar in 2006. Wendt has also been a licensed Broker since 2004 and is currently licensed in Iowa, Illinois and Wisconsin. 
 
Wendt is a native of Moline and currently sits on the board of the Moline Youth Football Association, is a member of the Moline Plan Commission, and is President of the Quad Cities Illini Club. Wendt is also a member of both the Optimist and Rotary clubs in Moline. He and his wife Eileen Wendt have three kids; Kendall, Carson and Jack. 

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 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.

June 16, 2010

Ruhl&Ruhl Critiqued by Peers

Ruhl&Ruhl REALTORS was recently visited and critiqued by leaders of 15 real estate firms from all different areas of the United States.

Brokers came from Raleigh, North Carolina; Reno, Nevada; Los Angeles, California; Burlington, Vermont, and points in between to help make Ruhl&Ruhl an even better company. “The entire group was very complimentary of our Quad Cities region, and envious of our economic health, particularly our strong and stable real estate market,” notes Caroline Ruhl, President of Ruhl&Ruhl REALTORS.

They were also complimentary of our agents and staff – awed at how friendly, productive and upbeat the entire Ruhl team is.

“The Leadership Council, a group of 15 of the best run independent realty firms in the United States, has been meeting twice a year for the last 12 years to share ideas and critique our host member’s company,” said Steve Murray, a member of the Leadership Council and Editor of REAL Trends, a publishing and communications company considered to be a leading source of analysis and information on the residential brokerage industry.

“After the recent meeting in the Quad Cities, it is certainly apparent that Ruhl&Ruhl deserves its reputation as one of the best led and managed firms in the country."

Members of the Leadership Council visited Ruhl&Ruhl’s offices and met with agents, managers and staff from each of the company’s offices. They participated in discussions with Ruhl&Ruhl agents in order to make suggestions for improvements in the company.

“This is one of the key ways we focus on continuous improvement and innovation. We are fortunate to have such a knowledgeable and successful group of brokers take their time to advise Ruhl&Ruhl on how to grow and become better,” said Ruhl. “The value is huge and the friendships are priceless. Many great ideas were provided, some of which have already have been implemented and others are in process.”

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 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, 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.

April 28, 2010

Ruhl&Ruhl Outsells Mel Foster

For the first time ever, Ruhl&Ruhl REALTORS, the residential company, outsold Mel Foster Company in sales volume for the year of 2009.

According to the Real Trends 500 Report, Ruhl&Ruhl was ranked 174th nationally based on sales volume. There are over 8,000 real estate companies in the country. Mel Foster Co. was ranked 178th.

Ruhl&Ruhl’s residential sales volume in 2009 was $547,890,896 and the company had 3,770 transactions, at an average sales price of $145,329. On average, Ruhl&Ruhl sales associates sold 16.1 properties per agent in 2009, as either the listing agent or selling agent.

Mel Foster reported their residential sales volume in 2009 was $532,828,648 and they did 3,939 transactions, averaging $141,334 per deal. This equated to “almost 14 deals per agent,” according to their press release in the Quad City Times.

Real Trends also ranks companies by their number of transactions. Ruhl&Ruhl ranked 102 and Mel Foster ranked 93. Caroline Ruhl, President of Ruhl&Ruhl REALTORS notes that she is proud of her agents for outselling Foster agents based on doing 16.1 transactions per agent compared to foster agents “doing almost 14 deals per agent.” She also is confident their residential volume will again exceed Mel Foster’s volume in 2010.

Ruhl&Ruhl had previously reported that they had outsold Mel Foster when they combined their residential volume of $547,890,896 with NAI Commercial Company’s sales volume of $147,692,346, giving the combined companies a total volume of $695,583,242.

Mel Foster had reported a total residential and commercial sales volume of $600,480,000 for 2009, down 12% from 2008.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 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, Bellevue, 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 .

Ruhl&Ruhl Celebrates Sales Growth in 2009; Announces Year End Results

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, congratulated her sales associates and staff on “surviving and thriving in 2009”.  She thanked them for their extraordinary customer service.  “You are knowledgeable and highly skilled professionals who consistently outperform your competition and are gaining market share.” The company celebrated at an awards brunch at the i-wireless Center Friday morning. They honored 155 achievement club members.

1. Growth in Number of Properties Sold
Ruhl&Ruhl REALTORS sold 3,770 properties in 2009, as either listing agent or selling agent. This was 4.7% more transactions than in 2008. 

This compares to a 3% decline in sales in the Quad Cities MLS, including a 1% decline in sales in the Iowa Quad Cities and a 5% decline in the Illinois Quad Cities.

2. Increase in Per Agent Productivity
On average, Ruhl agents sold 16.1 properties per agent as either listing or selling agents.  This is up from 15.2 sides per agent in 2008. Nationally, agents average 7 transactions per year.

3. Market Share Growth
• In the Quad Cities region, Ruhl&Ruhl has steadily increased market share from 25.16% in 2000 to 31.67% for the combined Iowa and Illinois Quad Cities in 2009.

• In the Iowa Quad Cities, they’ve grown from 32.05% in 2000 to 36.49% in 2009.

• In the Illinois Quad Cities, they have increased steadily from 14.22% in 2000 to 22.73% in 2009, an almost 60% increase in the past 10 years.

4. Average Sales Price
Ruhl&Ruhl’s average sales price was $145,329 in 2009, down from $154,147 in 2008.

The decline was caused by an increase in first time buyers – from 29% of Ruhl buyers in 2008 to 38% of Ruhl buyers in 2009.  The first time buyer tax credit prompted this jump in the first time buyers.

The average sales price overall in the Quad Cities in 2009 was $138,400.

5. Sales Volume
Ruhl&Ruhl’s residential sales volume in 2009 was $547,890,896, about 1.3% less than 2008.

When we add NAI Ruhl&Ruhl Commercial Company’s 2009 sales volume of $147,692,346 to Ruhl’s residential sales, the Ruhl companies total sales volume in 2009 was $695,583,242.

Mel Foster Co. reported total sales volume of $600,480,000 for 2009, down 12% from $682,220,000 the company reported for 2008.

6. Revenue
Revenue in a real estate company is primarily gross commission income, or g.c.i..  Ruhl&Ruhl’s 2009 g.c.i. was .8% less than 2008 g.c.i., but earnings were up significantly.

7. 1862 Mortgage Penetration
27.3% of Ruhl&Ruhl’s 2009 buyers used the services of 1862 Mortgage, Ruhl&Ruhl’s mortgage partner.  This was an increase from 25.5% buyer penetration in 2008.

8. New Construction Sales
Ruhl&Ruhl REALTORS sold 236 new construction homes in 2009 for a sales volume of $70,813,508, and at an average price of $300,057.  This was 21% less in sales volume than 2008.

9. What’s Ahead in 2010?
Caroline Ruhl expects the first half of the year to be particularly strong due to record low interest rates, the expanded homebuyer tax credit program that is no longer restricted to only first-time homebuyers, and to pent up demand.

“My concern is that many existing homebuyers don’t realize that they too are now eligible for a $6,500 tax credit – but offers must be written by April 30 and closed by June 30th,” Ruhl commented. “The $8,000 first-time homebuyer tax credit has been very effective but we need to get the word out to existing homebuyers so they don’t miss this free money.”

For the first three weeks of January, Ruhl&Ruhl’s pending sales volume was up 100% over the first three weeks of last year, and the number of properties pended for sale was up 64%.

Interest rates are also projected to go up about a percent in the second half of the year – another good reason for buyers to act now.

Ruhl&Ruhl REALTORS honored and recognized 155 award winners for their 2009 achievements at the i-Wireless Center this morning. 80 percent of the agents who have been with Ruhl&Ruhl at least one year qualified to receive recognition. The top honors were awarded to:

Top Residential Associate of the Year: Triple Diamond Club – Kim Solveson, Bettendorf Office

Extraordinary Production Award & Top Excellence in Service Award: Janet Munck, Clinton Office

Top Team of the Year: The Maher/Broders Team – Mary Maher, Kim Broders & Ryan Maher, DeWitt Office

New Associate of the Year: Jill McCleary, Davenport Office

Top Associate of the Year – Farm Division: Dennis Stolk, Davenport Office

Employee of the Year: Deb Painter, MLS Secretary, Muscatine Office

Top 1862 Mortgage Associate of the Year: Mary Leslie-Douglas, Clinton Office

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

Caroline Ruhl, President of Ruhl&Ruhl REALTORS, congratulated her team on growing their sales by 4.7% in 2009; much more than the sales increase in any of the 10 MLS’s that Ruhl&Ruhl participates in.

JANUARY 27, 2010

Home Prices Increasing, Ranking Dubuque 2nd in the Country in Appreciation

The Dubuque housing market has ranked 2nd in the country for house appreciation.

According to the Federal Housing Finance Agency, Dubuque placed 2nd out of 297 other markets, with home prices increasing by 3.56% in the third quarter of 2009.

“This really points to stabilization in our market,” said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. “Home prices are a great measurement of the market and this data shows a great improvement.”

Homes priced below $150,000 have seen more appreciation than homes in the upper price ranges, where sales are still sluggish and prices are still falling in some areas, she added.

Other markets in Iowa that were ranked include: Iowa City at 14th; Cedar Rapids at 20th; the Quad Cities at 35th; and Des Moines-West Des Moines at 74th.

Nationally, home prices increased 0.2% from the second quarter to the third quarter. Over the past year, home prices fell 3.8% nationally – a significant decrease from second quarter when home prices were down 6.1%.

Home prices have been much more stable in our markets than the rest of the country and are beginning to appreciate, further demonstrating how real estate continues to be a great investment in our region.

The purpose of the Federal Housing Finance Agency (FHFA) is to provide effective supervision, regulation and housing oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks to promote their safety and soundness, support housing finance and affordable housing, and support a stable and liquid mortgage market. FHFA data always runs one quarter behind. The full report is accessible at www.fhfa.gov. Rankings are based on annual percentage change in house prices for markets containing at least 15,000 transactions over the last 10 years.

A family-owned company since 1862, Ruhl&Ruhl REALTORS annually sells approximately 3,400 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 240 sales associates and 50 employees based in sales offices located in Bettendorf, Bellevue, 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, property management and mortgage services through 1862 Mortgage.  For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com

JANUARY 27, 2010

Fifth Generation Joins Ruhl&Ruhl REALTORS

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.

Today, Ruhl&Ruhl REALTORS, the residential company, has 240 sales associates, 50 employees and ten residential offices serving eastern Iowa and western Illinois, along with its corporate office in Davenport, Iowa. The company annually sells approximately 3,400 homes in the areas it serves, including offices in Davenport, Bettendorf, Clinton, Dubuque, Bellevue, Muscatine, Coralville, DeWitt, and Maquoketa, Iowa and in Moline, Illinois. In addition to residential sales, Ruhl&Ruhl offers services in relocation, new home sales, farm sales, senior services, property management, and mortgage services through 1862 Mortgage. For more information on Ruhl&Ruhl, visit their website at www.RuhlHomes.com.