Posts in category 'Other Related News'
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1
Real Estate Practices Changing For the Better in July – If NAR Settlement Is Approved By Courts
In March, the National Association of Realtors (NAR) announced it had entered into a settlement agreement with class action plaintiffs in what is known as the Sitzer Burnett case, pending approval by the court. The basis of the suit is rooted in the most common way in which residential real estate is transacted in the country, which is sellers hiring an agent to represent their interest for a professional fee, and then offering compensation to an agent who brings the buyer as an incentive to get their home sold.
More Transparency for Buyers and Sellers
Written Buyer Representation Agreements will be required just as Listing Agreements are required with Sellers. Agreements need to be signed before showing properties. These will provide transparent disclosure of the services provided and fees charged for buyer agent services and option...
1
Iowa Enacts Additional Property Tax Relief Measures
Recent legislation established a homestead exemption for eligible homeowners 65 and older. In addition to the existing homestead tax credit, those 65 and older by January 1 of the property tax assessment year are now also eligible for the exemption. The exemption reduces the taxable value of the property as opposed to the credit which is a direct reduction of taxes paid. The amount of the exemption is $3,250 for 2023 and increases to $6,500 for 2024 and subsequent years. To apply for both the homestead exemption and tax credit, use the amended Homestead Tax Credit and Exemption Application (54-028) on the Iowa Department of Revenue website. An application for the new exemption is due by July 1 of the tax year to the applicant's local city or county assessor, even if the homeowner has previously been approved for the credit. Once the application is approved, no further filing is required in subsequent years as lon...
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...
3
Ruhl&Ruhl Realtors Contributes to Derecho Relief Efforts
Reported to have been the most costly thunderstorm disaster in U.S. history, the derecho storm that blew through the midwest in mid-August destroyed $60 million worth of infrastructure and property in Cedar Rapids, IA alone. Apart from the financial aspect, the emotional and personal toll was high. The storm caused four deaths and countless injuries. Families throughout the area went without power for weeks, food and water were difficult to come by, and livelihoods were shattered. However, through the chaos of the crisis and the aftermath of the storm, the community has rallied togethe...
19
Derecho Storm Relief - Ways To Give And Receive Assistance
In the wake of the Derecho storm that swept through last week, many Iowans are struggling to find relief. For many, downed trees, damaged powerlines, and scattered debris hinder recovery efforts. For others, power has been out for over a week, and non-perishable food items, coolers, and bags of ice are scarce.
If you are needing assistance, there are resources available:
The Iowa Department of Human Services
DHS has numerous relief services including Food Assistance Replacement, Behavioral Health, and Disaster Case Management.
