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Posts from May 2013
Ruhl&Ruhl REALTORS
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May
24
24
Home Prices Steadily Rising in our Local Markets
DAVENPORT – Slow and steady wins the race! Our eastern Iowa markets continue to have steady and stable growth in home price appreciation. Nationally home prices have fallen 9.15% in the last five years, but all of our markets' home prices are up: 7.01% in Dubuque; 1.95% in Iowa City; 1.48% in the Quad Cities; and 0.74% in Cedar Rapids. This compares to other cities: Des Moines, IA down 4.64%; Chicago, IL down 25.60%; and the Daytona Beach, FL area down 40.61%.
Information courtesy of the Federal Housing Finance Agency (FHFA) for first quarter 2013. FHFA stats always run one quarter behind. Their full report is available at www.fhfa.gov. *Rankings based on annual percentage change in house prices. Our markets didn't fall as drastically as other areas of the country, so the increase in home price appreciation has modest but steady. The shortage of listings and pent up buyer demand may further improve home prices locally. According to the Federal Housing Finance Agency, of the 300 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation, all of our markets in eastern Iowa ranked in the top 58% in the nation – Dubuque at 98th; Iowa City at 106th; the Quad Cities at 140th; and Cedar Rapids at 173rd. Nationally, this is the seventh consecutive quarterly price rise and overall it's believed the housing market has stabilized in many areas, but a still-elevated foreclosure pipeline remains a hindrance to a bigger recovery, said FHFA Principal Economist Andrew Leventis. Our local markets continue to provide a much more stable environment for purchasing homes and investing in real estate. The Home Price Index is calculated using home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to nearly 301 sales associates, 58 employees and twelve offices, selling more than 5,000 homes in eastern Iowa, western Illinois and southwest Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, Maquoketa, Muscatine, and Washington, 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 and land sales, senior services, home vendor services, insurance services through the Nelson Brothers Agency and mortgage services through Shelter Mortgage. For more information on Ruhl&Ruhl Realtors, visit their website at www.RuhlHomes.com.
| Metropolitan Statistical Areas (MSAs) | 2013 1st Quarter National Ranking of 300 MSAs* | Percent Change in House Prices | |
| 1 Year | 5 Year | ||
| Cedar Rapids, IA | 173 | + 0.67% | + 0.74% |
| Davenport-Moline-Rock Island, IA-IL | 140 | + 1.31% | + 1.48% |
| Des Moines-West Des Moines, IA | 146 | + 1.20% | - 4.64% |
| Dubuque, IA | 98 | + 2.31% | + 7.01% |
| Iowa City, IA | 106 | + 1.96% | + 1.95% |
| USA | + 6.72% | - 9.15% | |
May
17
17
Ruhl Premier Access – FREE Super Suite of Tools
Along with the launch of Ruhl&Ruhl REALTORS' new and improved website, RuhlHomes.com, came Ruhl Premier Access. Ruhl Premier Access is a free suite of tools to make a real estate transaction simpler and more informative to our clients. Ruhl Premier Access now allows consumers to:
- Search properties that have recently sold in a neighborhood.
- Receive market reports about real estate activity in their zip code– including real estate trends on solds, n...
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