Ruhl&Ruhl REALTORS
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19
Big Jump in Home Values in the Past Year
Due to tremendous buyer demand for homes and limited inventory, home values have significantly increased. According to the Federal Housing Finance Agency, FHFA, the rate of appreciation in the MSA's we serve increased over the past 5 years between 18.76% - 22.6%, as shown in the the chart below.
Even more impressive is the increase in the prior 12 months which ranges from 5.99% in Iowa City to 9.08% in Cedar Rapids. FHFA data always runs a quarter behind, so this increase was only through June of 2021. Based on extremely strong 3rd quarter sales, we anticipate values will continue to appreciate, albeit at a slower pace, through the end of this year and likely through 2022.
This increase in home values makes now a great time for sellers to sell. It's also a good time to unlock the equity in a home with a cash out refinance that can be used for many purposes such as home improvements, buying an investment property, paying off debt, etc.
"During the second quarter, home prices nationally peaked in June with an 18.8% growth rate compared to a year ago",said Dr. Lynn Fischer, Deputy Director of FHFA's Division of Research and Statistics. The continuing appreciation in home prices and likely increase in mortgage rates will make now the best time to buy a new home before monthly payments increase.
|
Metropolitan Statistical Areas (MSAs) |
Percent Change in House Prices |
|
|
1 Year |
5 Year |
|
|
Cedar Rapids, IA |
+ 9.08% |
+ 22.60% |
|
Davenport-Moline-Rock Island, IA-IL |
+ 7.37% |
+ 18.76% |
|
Des Moines-West Des Moines, IA |
+ 8.59% |
+ 25.17% |
|
Dubuque, IA |
+ 6.72% |
+ 19.70% |
|
Iowa City, IA |
+ 5.99% |
+ 18.82% |
|
USA |
+ 17.42% |
+ 47.66% |
Information courtesy of the Federal Housing Finance Agency (FHFA) for the second quarter of 2021. FHFA stats always run one quarter behind. Their full report is available at www.fhfa.gov.
"We have continued to experience sizable gains across our region in home values over the last year," said Caroline Ruhl, CEO, Ruhl&Ruhl Realtors. "To get a real sense of your local neighborhood real estate market, we suggest you meet with a Ruhl&Ruhl Realtor who can give you a summary of activity in your neighborhood."
About Ruhl&Ruhl Realtors A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to 330 sales associates, 57 employees and 12 offices, selling more than 5,200 units in 2020 in eastern Iowa, northwest Illinois, and southwest Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, and Muscatine, Iowa; and in Galena and Moline, Illinois. For more information on Ruhl&Ruhl Realtors, visit their website at www.RuhlHomes.com.
24
Scott County Offers Relocation Incentives for Veterans
The Quad Cities is a cost effective place to live. U.S. News & World Report has even ranked the QC as the third best, cheapest place to live in the U.S.. Now, Scott County wants to make the area even more appealing to one specific demographic: Veterans and transitioning service personnel. This is partially due to Scott County becoming a designated Home Base Iowa area, which is a program dedicated to helping veterans and their spouses find Iowa based jobs and careers. In response, The Scott County Board of Supervisors and Davenport City Council have joined forces to serve veterans and transitioning service personnel who are looking to move to the area.
Incentives include:
- $1,500 closing costs reimbursement from Scott County. Scott County provides this incentive...
6
Military Homeownership Assistance Program
If you are a military service member or a veteran looking to buy a home in Iowa, you may qualify for financial assistance. Ruhl Mortgage participates in the Iowa Military Service Downpayment Assistance Program and wants to give you more information on qualifying for and participating in this program. This statewide Military benefit provides a down payment of up to $5,000. It is available to eligible Iowa service members and veterans through the
5
Assistance Available for Illinois Homebuyers
Buying a home is likely one of the largest purchases you'll make. While homeownership is a rewarding investment, the upfront cost can be intimidating. The good news is, if you're looking to buy a home in Illinois, you may qualify for financial assistance. Economic Growth Corporation (GROWTH) has compiled a list of homeownership programs available to Illinois buyers who qualify. Overall, the programs are meant to encourage homeownership and enhance our communities through tax revenue. GROWTH offers HUD-approved counseling, literacy programs, and guidance to those who qualify. The qualification requirements for each program are different, and the downpayment assistance, closing cost credits, and neighborhood-specific i...
30
Ruhl&Ruhl Realtors Ranks as Iowa's Largest Independent Real Estate Company
DAVENPORT, IA – Ruhl&Ruhl Realtors has ranked once again as the largest independent real estate company in Iowa. REAL Trends 500 ranks the Top 500 real estate companies in the country according to the number of residential transactions and sales volume. Ruhl&Ruhl Realtors ranks 157th nationally based on 5,172 transactions closed. REAL Trends 500 ranks companies on residential transactions only. When we add back in farm and land and commercial transactions, Ruhl&Ruhl Realtors closed 5,203 sides in 2020. On average, Ruhl agents closed 16.7 transactions per agent in 2020. "We are honored that families across our region trust us to guide them through such an important journey in their lives," said Chris Beason, President of Ruhl&Ruhl Realtors. "We earned this ranking because of the dedication and hard work of our agents and staff."
| Company Name | Transactions Rank | 2020 Transactions | 2019 Transactions | +/- | Total Offices |
| Ruhl&Ruhl Realtors E Iowa, NW Illinois, & SW Wisconsin | 157 | 5,172 | 4,980 | +3.9% | 11 |
| Mel Foster Co. Inc. Quad Cities | 359 | 2,773 | 3,028 | -4.7% | 8 |
| Skogman Realty Cedar Rapids & Iowa City | 384 | 2,657 | 2,656 | 0.0% | 5 |
| Coldwell Banker Hedges Realty Cedar Rapids | 495 | 2,112 | 1,968 | +7.3% | 4 |
Ruhl&Ruhl Realtors residential sales volume was $932,267,271. When we include farm and land and commercial, the total sales volume was $951,461,219. Additionally, NAI Ruhl Commercial Company, a joint venture with Ruhl&Ruhl Realtors, sold $77,700,000 in sales volume in 2020. They have 17 commercial agents. NAI Ruhl Property Management manages 1.725 million square feet of space. Ruhl Mortgage, also a joint venture, closed $359,929,158 in loan volume, which was generated from 1,572 loans. Ruhl Mortgage ranks 15th nationally among real estate companies with affiliated mortgage companies according to the ranking of Top Firms by mortgage closings. Ruhl&Ruhl Realtors partners with American Home Shield to provide home warranties to buyers and sellers. In 2020, Ruhl sold 1,251 home warranty policies, which ranks the brokerage 16th nationally.
Source: REAL Trends 500 – https://www.realtrends.com/rankings/rt500/
