Home Sales in Cerro Gordo County

Talk to anyone with a home on the market and there's a lot of frustration. It's actually a great time to buy a home. Interest rates are low, prices are down, and there's a new $8000 tax credit for new homebuyers thanks to the newly passed stimulus plan. So why are things so slow? Well, it's not as slow as in other parts of the country, but I think people are just cautious. Everyday, they are hearing about how bad the economy is. They're worried about where their job will be in 6 months and are simply just staying put. They're in that 'wait and see' mode.

So how much have things slowed down in North Iowa? I've been doing a little research with the county recorder's office. This is where the deeds (i.e. home sales) get recorded when they exchange hands during a property agreement.

Here's what Colleen Pearce, the Cerro Gordo County Recorder told me. "It's been very slow compared to even last year and that was not as busy as the year before. We used to have days where 100 documents would come through here in a day (that's all documents, not just home sales). Now we have about 40 documents a day."


From 2003 to 2007, the number of properties sold averaged 1,834. But those sales fell by 20.338% in 2008 to 1,461.

And here is how 2009 is starting off. In January, records show there were only 74 home sales in Cerro Gordo County. That's a 35% decrease from January 2008 which had 114 sales. Here are the numbers up close.

YEAR/DEEDS (Home Sales) RECORDED


2003/ 1877


2004/ 2023


2005/ 1960


2006/ 1729


2007/ 1783


2008/ 1461

The good news is banks in Mason City, Iowa are not facing the banking crisis on Wall Street. For example, the folks at Farmer's State Bank have told me they want to give out more mortgages. North Iowa is a great place to live. And we're poised to move ahead at great strides once confidence is restored. The air is clean, it's a great place to raise a family, we have lots of recreational opportunities with Clear Lake, bike trails, East Park, Lime Creek Nature Center, the list goes on and on. Plus, we have great choices in education, with sound public, parochial schools and a growing North Iowa Area Community College.

Frustration won't last forever. Keep your chin up. Spring is just a few weeks away. Better times will come.

Stimulus Plan-What's in it for the Housing Market?

President Barack Obama is signing the Stimulus Package.. making it law this afternoon. So what's in it for the housing industry? If you're a first-time homebuyer, you'll receive an $8000 tax credit. Some were hoping for more. (The Senate had included a $15,000 credit for all homebuyers, but that's not to be.) Evenso, the housing industry will take what it can get.

Click here to read more information at usatoday.com. http://www.usatoday.com/money/economy/2009-02-12-stimulus-package-effects_N.htm

And here's a heads-up for those homeowners feeling the threat of foreclosure. On Wednesday, Obama is expected to release details on a 50 billion dollar plan to help slow foreclosures and reduce mortgage payments.

Staging Your Home to Sell

You know how parents are constantly reminding their kids to brush their teeth? (I do anyway.) It's similar to the way many homeowners need constant reminding about the importance of 'staging' if they want to sell. Let's face it, clutter rules the day in too many homes! The last person they should be showing a home to is a prospective buyer.

After visiting many homes during the past two years, here are just a few of my own tips.

1. Clear the kitchen counters. Just to name a few, get rid of the toaster, the mixer, any other appliances, the papers, the hot plates, cookbooks, get rid of dishtowels in the sink and on the stove. Take all the pictures and notes off the refrigerator. Once that's done, clean to your heart's content. That includes the inside of the refrigerator, the dirty dishwasher door, the faucet. Make it shine!

2. Clear out kitchen cupboards and pantries. Get rid of those dishes, glasses, old muffin pans, the rice cooker that you never use. I am reminded of the woman whose kitchen cupboards were stocked with three full sets of tableware and the couple with twenty coffee mugs for the two of them. Is all that stuff really necessary? If you can't part with it, find a place in storage. Show us the space in your cupboards.

3. Take it to Goodwill. Now turn to your closets. Most people could easily part with half the clothes hanging in their closets. If you haven't worn it in the past year, believe me, you won't miss it. If it doesn't fit, say goodbye. It's not only good for the appearance of your home, but for your psyche as well. Do you have baby clothes in storage just in case you have another one? If you don't plan on using them in the next year or two, I suggest letting another child in need get his/her use out of them. The same goes with too many toys.


4. Keep the furniture simple. Every wall doesn't need something on or against it. Play up the focus of each room. Is it a conversation, reading or game area? If a chair or rug looks worn, consider investing in an inexpensive new one. Same thing goes for old light fixtures.

5. Depersonalize. Make your home appealing to as many buyers as possible. That involves toning down wall colors, taking down personal photos, and decor that stands out. (I've seen a lot of football-themed bedrooms and one safari-jungle living room that, let's just say, don't appeal to a broad audience) Unfortunately, a lot of buyers are not very imaginative, so homeowners need to make it easy for them.

Ready for more? Here are some more great tips on HGTV.com http://www.hgtv.com/decorating/13-home-staging-secrets/pictures/page-6.html

Real Estate Advice Worth Watching

I love this segment on the NBC's Today Show that answers your real estate questions.

Is this a good time to buy? Thinking of buying a foreclosed home? It's great advice and easy to comprehend. Click here to watch http://www.msnbc.msn.com/id/21134540/vp/29052256#29052256

Huge Tax Break for Homebuyers in Stimulus Bill

As if low interest rates aren't enough, here's another great reason to be in the market for buying a home. The Senate passed a tax break of up to $15,000 for homebuyers. It's part of the 800 billion dollar economic stimulus bill under consideration.

While it still needs approval by the House and President, I wanted to let you know it's something to keep your eye on!

Read more at at usatoday.com or click here http://www.usatoday.com/money/economy/housing/2009-02-04-taxbreak-homebuyers_N.htm