Iowa City Real Estate Blog: August 2009

Buying a Home in Iowa City - Step 2: Choosing the right area to live

This is the second part in a 7 part series to give you as a home buyer a better idea about the home buying process in Iowa City.

Today I'm going to cover the question of choosing where you want to live. At the same time you want to consider the style and age of home you have in mind. There's no point looking for something that just isn't there - For instance a new ranch style home in downtown Iowa City!

First I want to touch on a subject that is very specific to people relocating to Iowa City. If you are relocating the area and your top priority is to live within walking distance of the UI Campus, then you need to be aware that there is a VERY high demand for that...

Higher demand generally means higher prices. That's the first thing. Then there's the fact that downtown Iowa City has some wonderful turn of the century homes in character filled historic neighborhoods. Finding a newer home on the other hand, that's a very different story. (Hence my comment earlier in my post). Some of the older homes have been updated, many have not. My point being that if you do want to live within walking distance of campus, you should know that your options are limited.

So now to the more universal aspects of choosing your area to live:

Price Range is obviously a huge factor when it comes to choosing where to live. Even in a small town like Iowa City the prices vary from neighborhood to neighborhood. Getting pre-approved of course will help you here and you'll be able to narrow your options on location by knowing where you can afford to live. This might be a good time to mention that if you get "sticker shock" when you see Iowa City prices, you may want to take at the surrounding areas, for instance North Liberty as an option. North Liberty is  "hot" right now with home sales in July increasing by a massive 46% in comparison to last year.

Distance to your place of work, (or study) is another big one. Some people are fine with a longer commute time. Others prefer to live close by. Your personal preferences will factor into the location of your new home, along with the distance to schools and other amenities like shopping, restaurants, parks, fitness centers... In short whatever you think is important should be considered now. (You can always compromise later. To start out it's a good idea to  make a "wish list").

An equally important factor is to decide whether you want to be close to relatives or friends in a certain area. This is often a big motivating factor when you have children. For instance living closer to grand parents where children go after school, or maybe best friends.

That just about covers the basics of how you go about narrowing down the area as you choose where you want to live. Remember to keep in mind the style and age of home as you consider the location. It used to be that location was everything in real estate. That's changed as buyers realize sometimes they need to compromise on location to get the type of home they really want to spend their time in. You might decide it's worth a 15 minute longer commute if it means you get the home that is perfect for you and your family.

The next step in process is Step 3: Finding the Right Home for You

Buying a Home in Iowa City: For your reference: links to all steps in my 7 part series:

Step 1: Getting pre-approved for a home loan
Step 2: Choosing the right area to live
Step 3: Finding the Right Home
Step 4: Making an Offer
Step 5: Home Inspections and Repairs
Step 6: Preparing to Close on Your New Home
Step 7: You're Closing on Your New Home

If you're new to the home buying process - a first time buyer or maybe relocating to the Iowa City area - all this information may throw up more questions than answers...There are a couple of solutions for that. You can either leave me a comment and I'll respond to that, or you can contact me directly either by phone or email, whatever suits you best.

Buying a Home in Iowa City: Step One: Getting Pre-approved for a Home Loan


This is the first part of a 7 part series geared towards "first timers". I'm thinking not only first time buyers, but also anyone relocating to the area. I figure folks relocating to the area are also first timers as generally if you're relocating to Iowa City you won't know the area. Then there's the fact that the buying process is a little different from state to state. (And very different if you're moving from overseas).

The very first step when you're thinking about buying a home is to start by finding out how much you can afford. Now of course there's nothing less exciting than a trip to a mortgage lender, (except maybe a trip to the dentist), but it is a necessary step and usually not nearly as painful as you imagine it will be.

How do you choose a lender? That's certainly one of the things I can help you with. Depending on what kind of home loan you're looking for there are a number of mortgage professionals I can refer you to. Here are a couple of questions I may ask you before referring you to a lender:

Are you looking for a loan with a low or no down payment option? Or... Do you intend making a large down payment of 20% or more?

For those looking for no or low down payment options there are several available here in the Iowa City area.

FHA loans offer a low down payment option and although there are a few lenders in town that offer them, I prefer to send my clients to someone who specializes in them. (FHA loans can be tricky, so you want to work with someone who knows the program inside out).

100% Financing Options are still available as in-house loans with some of the local banks here in Iowa City. They are usually 5 or 10 year adjustable rate mortgages (ARM's) and are very popular with people relocating to the area who know they may only be here for 3 to 4 years. Fellows or Residents to the UI Hospitals or Faculty and Students to the UIOWA spring to mind - There is a high demand for these loans as we do have a lot of people relocating to Iowa City.

I should mention that I also serve clients in the North Liberty area and there is another 100% financing option for rural areas in the form of the USDA loan. North Liberty is growing fast, but does still class as a rural area. 

These are just a few examples and as you can tell from just this relatively small amount of information, depending on your circumstances there are many different loan programs, so it's really important for you to hook up with the right lender. If you'd like me to help you find the right lender to best serve your needs, just give me a call.

Pre-Approval vs. Pre-Qualification: Talking on the phone with a lender before visiting them is always an option and of course it saves on time. It's fairly simple to get yourself pre-qualified with just some basic information about your income and what kind of recurring costs you have every month. It's helpful as far as giving you a ball park idea of what you can afford, but is not really much help when it comes to making an offer. Ultimately, the information you give for a pre-authorization will need to be verified before a bank will pre-approve you for a loan.

For a full pre-approval it's better to visit the bank and provide the documentation required. A few of the lenders I work with in Iowa City will in certain circumstances pre-approve you over the phone if you provide your social security number and allow them to pull your credit to verify your recurring costs. This pre-approval would still be contingent upon you providing certain required documents as soon as possible.

*Documents Required by Lenders to secure financing:

Full Loan Application (If applying by phone this would be sent out by the bank the same day).
2 years of tax returns or W2 forms
Paycheck stubs for most current 30-day period
Monthly debt (who with, how much, loan number)
2 months recent bank statements to verify cash to close
Address of mortgage company or landlord for past 2 years
Drivers license (Legal aliens will also be required to provide visa or alien registration card)

*Depending on the loan, other documents may be required.

Comparing Lenders: It's always a good idea to compare lenders. Particularly closing costs vary greatly from lender to lender and you want to be sure you get the best deal. Making sure you get a GFE (Good Faith Estimate) is the only way to easily compare quotes, so make sure you get one from every lender you speak with.


Before you start looking at homes you really are best served by making sure you are pre-approved beforehand. Look at it this way: Can you imagine how heart breaking it would be to find "the perfect home" only to find you don't qualify for a high enough mortgage to finance it?

Here's the link to the next step in my series: Step 2: Buying a Home in Iowa City - Choosing the right area to live

Buying a Home in Iowa City: For your reference: links to all steps in my 7 part series:

Step 1: Getting pre-approved for a home loan
Step 2: Choosing the right area to live
Step 3: Finding the Right Home
Step 4: Making an Offer
Step 5: Home Inspections and Repairs
Step 6: Preparing to Close on Your New Home
Step 7: You're Closing on Your New Home

When you're new to the home buying process - a first time buyer or maybe relocating to the Iowa City area - all this information may throw up more questions than answers...There are a couple of solutions for that. You can either leave me a comment and I'll respond to that, or you can contact me directly either by phone or email, whatever suits you best.

Iowa City ACT Scores 2009

Big news in Iowa City this week - The ACT scores are in and Iowa came in 2nd in the nation again, with most area high schools in Iowa City scoring higher than the state average of 22.4.

West High School beat it's own record this year with an average of 25.8 out of a possible 36. City High's average was 24.8 with the Regina Catholic Education Center at 23.8. Visit the Press Citizen website for scores for other high schools in the area.

This is pretty important information for you if you're moving to the area. The ACT is an important measure of how well students are doing when it comes to being college ready after graduating from high school and is used by many colleges and universities in the decision making process with scholarships and to determine admission.

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The good news is that on the whole Iowa City is performing very well. Iowa City is one of the most educated cities in the country so that really shouldn't be such a surprise. The University of Iowa is right here - ACT even has its headquarters here! In other words, education is a pretty important topic around here.

No reason to get complacent about these ACT scores though. Looking at Iowa as a whole, 70% of students still didn't manage to meet all four benchmarks for college readiness as required by ACT. Although that's still better than the rest of the country, nationally the number of students not meeting all four benchmarks was 77%. This might be a good place to mention that the the subjects tested in separate exams are English, Reading, Math and Science.

On the up side, more students in Iowa are concentrating on the core subjects, with 78% of students taking at least 3 years of math, science, social studies and 4 years of English, in comparison to 69% last year. That number is likely to get even better in the next couple of years as more students concentrate on the core subjects. Starting in 2011 the model of 3 years of math, science and social studies and 4 years of English will be a requirement for all graduating students.

The Department of Education Director Judy Jeffrey commented on the importance of measuring the education system by the outcome it produces and pointed out that Iowa continues to lead the nation in graduation rates, ACT scores and SAT scores.

If you're moving to Iowa that's got to make you feel pretty confident about your child's education... And looking at both public high schools in Iowa City with their ACT scores for 2009 quite a bit higher than the state average you can feel even better!

Iowa City Real Estate: Selling Your Home in a Tough Market

When times are tough it's time to get back to basics. There are  no secrets. There are three basic factors to consider when it comes to selling a home in Iowa City or anywhere else for that matter.

Condition of a home

Price of the home

Location

Let's start with condition: the condition of your home has never been more important than it is in the current market. The Iowa City market may be stable compared to other areas, but buyers are are still VERY picky in this market, so to get their attention you want to make sure your house"stands out from the crowd".

How do you do that? The easiest way is for you start thinking like a buyer. Pretty soon you'll be in the market to buy a new home. Go to some open houses and figure out what's important to you when you buy a home. Chances are you're on the same page as most other buyers out there... That's when you go back to your own home and start preparing your home for future open houses. Keep in mind my comment about buyers being picky... To sell your home in this market it doesn't need to look good - it needs to look GREAT!

If you think your home may need more than a little TLC before you put it on the market it might be a good time for us to talk. You want to be careful with those upgrades.You don't want to do anything that has little or no return on investment. When it comes to selling your home, some updates make sense, others don't. I can help you decide which ones should take priority.You want your home to appeal to as many potential buyers as possible, but there's no reason to be over the top about it. I subscribe to the "keeping it real" principle of doing what's reasonable before putting a house on the market. And actually that's a principle I subscribe to in any market, but perhaps more so in this one where the bottom line is on everyone's minds.

So now let's move onto pricing your home: This is something that's not exactly easy to do on your own and a very good reason to work with an agent. Figuring out the market is something we are good at. It's not just a question of finding out what homes sold in your neighborhood through some online resource. That would be too easy. When I prepare a Comparative Market Analysis (CMA) I do an in depth analysis of what's currently on the market, how many homes are pending sale and how they all relate to your specific property. I'm all about pricing a home based on data and use all the tools as my disposal to figure out the right price to list a home at. I will advise you on EXACTLY what's going on in your market and make you aware of what the competition is doing. Working with the data, we'll be able to price your home in such a way that it attracts maximum attention with the potential for the most showings.

Pricing your home right is key to attracting buyers to come look at your home. It's widely accepted that homes sell closer to their asking price within the first 45 days on the market. After that all bets are off. This is not the market to "test" a higher price. If you price your home in line with market conditions you can expect buyers to come see it and it will only be a matter of time before the right one walks through the door and makes an offer. Not really rocket science at all. Just a good game plan!

Now all we're left with is the question of location as a factor when it comes to selling your home. Everyone's heard of the term that selling real estate is all about location, location, location. Well, if may not be quite as true as it was once, but it is still a very important factor for almost all buyers.

What have you got that puts your home in a location potential buyers want to be? It's not a factor you can change, so you work with what you've got. What makes the location of your home a good place to move to? There is probably a reason why you moved there...Is it close to the elementary school? shopping? work? Your agent will ask you these questions, (and probably have some of the answers too).

Going back to price briefly, where your home is will also contribute to the analysis when it comes to setting a price. In Iowa City for instance, if your home is within walking distance of either the UIOWA or the UI Hospitals then yours is going to be a pretty popular house! Popular neighborhoods translates into higher prices, that's the way it works.

That about sums it up. When you have these 3 things covered you will be well on your way to selling your home. Some of the information in this post is specific to the Iowa City real estate market, but the three basic factors to consider when your selling your home probably apply to just about anywhere in the country.

Of course there is still the secret ingredient of a good marketing plan...There would be no point in all this preparation if buyers didn't know your home was on the market, would there?

That's the part where you step back and let me do my job. No worries, we're well-prepared, so you can just relax and wait for the showings to start...

**This post is written from the perspective of the buyer. In the meantime I've written a second post on the subject looking at it from the sellers perspective.

Should you ask the seller for closing costs and how does it impact your transaction?

Should you ask the seller to pay closing costs when you make an offer on a home? That's one of the most common questions I get asked when I meet with buyers for the first time. This is especially true with first time home buyers.

Most First Time Home Buyers are overwhelmed by the financial impact buying a home will have on their lifestyle. They know they have many other expenses to cover when they move and the thought of saving on the closing costs relieves some of the burden in their minds. (Plus they often come directly from a Lender who has just given them this information and they need to know if it's true).

What I am going to do here is to explain how seller paid closing costs work and leave you to answer the question yourself about including them in your offer based on your own particular situation:

Firstly, let's look at the facts: Seller paid closing costs are not really seller paid. They're actually paid by you the buyer by rolling them into your loan.

That may not make sense, so I will explain it a bit better: Imagine you make a full price offer on a home for $150,000 with a clause in there for $2000 for seller paid closing costs. If the seller goes along with that you will finance the home based on a purchase price of $150,000. Now, if you make an offer on that same home for $148,000 dollars, the seller's bottom line is exactly the same. You on the other hand will be financing the home based on a purchase price of $148,000.

This is probably a good place to mention that I am a Realtor® serving Iowa City, Coralville and North Liberty Iowa. Closing costs are not as high here as in other parts of the country. My son in Rochester MN for instance recently bought his first home and paid around $5000 for closing costs.

Getting back to my example. The question is not so much whether you should ask the seller to pay closing costs, as to ask yourself whether you want to finance those costs into your loan, which will translate into a slightly higher mortgage payment every month.

As you answer that question for yourself there are probably a couple of things you need to consider. Is the home you want to make an offer on "move in" ready or do you have a list of things you need to take care of after you move in? How are your finances? Do you have "breathing" room or are you running a very tight ship?

Should you ask the seller to pay closing costs when you buy a home? Depending on your own financial situation the questions in the last paragraph should help you establish for yourself whether "Seller Paid Closing Costs" are a good option for you or not. If you're tight on cash or want to keep what you have for repairs, then asking for closing costs may be a good option for you.

Of course I have only scratched the surface here. There's so much more to know before making an offer on a home. Even factoring in your own situation there may be something in the specific transaction that could influence your decision to ask the seller for closing costs. If you're in an area where home prices have fallen significantly, then you might be running the risk of the property not appraising for the elevated purchase price with closing costs. That's not so much an issue here in Iowa City, as our market is pretty stable. (Although, again that would depend on the specifics of a transaction).

When you're buying a home, there are so many different things that need to be considered. The question whether you ask the seller for closing costs is just the tip of the iceberg. That's why you're careful when you choose your Agent, so you know you have someone on top of the situation that advises you of all the facets of a real estate transaction. If you're just starting out, the home buying process probably seems a little overwhelming right now. Take my word for it, when you work with someone who knows what they're doing, that feeling will go away quickly.

Asking the seller for closing costs has become standard here in Iowa City in what we're all calling a "buyer's market." My goal with this post is to make sure you're aware of exactly how it works. To sum up: You as a buyer are the one who bears the consequences of the so-called "seller paid closing costs" and should be totally aware of that upfront, before you make an offer on a home.

Liberty Motors: Auto Dealer and Repair Shop North Liberty Iowa

The fact is, everyone needs a reputable and good auto repair shop! That's why I'm going to start my series on local businesses in the area by telling you about Liberty Motors, an Auto Dealer and Repair shop in North Liberty Iowa.

My car started exhibiting serious brake problems yesterday while I was out and about. Before Liberty Motors opened its doors for repairs I would have been concerned about where to take it without having to take a second mortgage on my home to get it fixed! No worries, I'm lucky, I have somewhere to go where I will be well taken care of.

Liberty Motors is a family owned and operated auto dealer and repair shop in North Liberty. Ken and Spence Madole, (father and son), are responsible for the daily operation, with Dell Madole, Ken's wife taking care of the title-work and other paperwork. Seth Madole, Ken's other son is also a part owner. He lives in Minnesota, so he's not as involved in the day to day running of the business as he was when he still lived here, but of course it's not unheard of to sell cars over state lines and that's something that does come up sometimes.

The Madole family started the business in 2001. Ken has been in the auto selling business for almost 40 years, so he has a lot to bring to the table. With that kind exposure to the auto selling business it's easy to see why Spence and Seth would follow in his footsteps!

They started out in 2001 purely as an auto dealership. I actually bought my son his first car there in 2004. It was a Dodge Neon, (my 17 year old son wasn't getting anything he could hot rod in!) Spence made it an absolutely wonderful experience for us. It's really not overstating it to say that when you go to Liberty Motors you are treated like family. There's no upselling, no fast talking salesman, just good honest service.

After a really smooth transaction perhaps the thing that most impressed me was when Spence went out to the car with me and took a photo to display on their wall. You'll see the wall I'm talking about in the photo on the right. Brilliant idea, don't you think? It really underlines the comment I made earlier about being treated like family. Spence told me this morning that very often customers will look at the wall and get excited to see their friends featured there.

Two years ago Liberty Motors expanded their service and opened a repair shop. They now have a full time mechanic, Tony Donatti on their team and offer flexible service at a fair price.

If you live in or around North Liberty, next time you need an oil change or have a car problem, check out Liberty Motors Auto Dealer and Repair Shop North Liberty Iowa...They'll take good care of you!

Opposite Fareway Grocery Store

Charming 2 Bedroom Ranch Home in excellent Downtown Location. Fantastic First Time Homebuyer Opportunity!

Move right into super cute ranch home in a great downtown location in established neighborhood. Well thought out floorplan. Nice, bright eat-in kichen. Loads of updates, including freshly painted living/dining are and kitchen in nice neutral colors, New carpet and vinyl flooring. Remodeled Bathroom, (Hardwood floors under the main living area). This is a house just waiting to be called home - Full of charm with a lovely front porch and a pretty yard... And don't forget the great location, close to schools, shopping and the UIOWA. ***Off Street Parking at rear of home with alley access.***
For more detailed info about this home check it out on the Iowa City MLS. (Unfortunately the link won't take you directly to the listing - I tried that and it doesn't work). MLS#20094863

First Time Homebuyer Alert! Why rent when you can own this for less? Combined with the $8000 tax credit for first time homebuyers, then this might be the best deal in Iowa City!

The clock is ticking...To qualify for the first time home buyer tax credit you need to close on a home by November 30...Not sure where to start? Contact me to set up a Free Homebuyer Consultation. I work with a lot of first time homebuyers and have found that de-mystifying the process works wonders. I have a pretty straightforward, common sense way of doing things. Meet with me and give me an hour of your time and you'll see what I mean...

Iowa City: More than you expect in the Midwest

Iowa City is a surprising town...This comes from someone who's visited many towns and cities on three different continents, so I figure that makes me something of an authority on the subject!

I relocated to Iowa City ten years ago and had no idea what to expect. What do you think of when you think of Iowa? I thought of the Gilbert Grape movie and corn fields and that was about it…

It didn't take me long to realize that I was way off base and there's a lot more to Iowa City than that...Of course Iowa City is a college town, so it has the college town atmosphere. The University of Iowa as the largest employer in the area has an enormous influence on the Iowa City way of life. The University is probably the main reason why Iowa City has such a diverse community with so many people from so many different cultures. It’s this diversity that makes Iowa City unique in so many ways.

What impresses me most about Iowa City? I'm going to start by talking about the Arts. It only took a walk through the Ped Mall for me to get a sense of how Art and Culture influence day to day life in Iowa City. Book shops, Theatres, Museums, Art Galleries, oh, and Coffee Shops…Such a small town and so much to offer!

A walk through the Ped Mall is interesting any day of the week, it's even more enjoyable when there's live music and that happens a lot throughout the summer months. Summer this year has been a bit on the wet side to say the least, but that hasn’t stopped Iowa City celebrating the Summer of the Arts / Jazz Festival.

Although Summer of the Arts is not over yet I want to move onto what for me is the highlight of the events taking place this month. It’s the Landlocked Film Festival and runs from August 27 to August 30. It’s a collection of independent films that are screened at different locations in the downtown area.

International Independent Films in Iowa City – Are you impressed? As an independent film lover I am...It ranks up there with the time I saw Richard Thompson performing at a concert at the Ped Mall a couple of years ago...

Midwest – Boring? Think again! Come visit us. Iowa City will surprise you! And when you're here, make your first stop is one of the coffee shops at the Ped Mall...Then you'll know what I'm talking about!

Many thanks to my friend Howard Horan for the use of the photos: HHoran Studio, Iowa City Tel: 319-351-2813

Coralville and North Liberty IA Real Estate Market

In Part One I looked at Home Sales for July in Iowa City and mentioned that for a true picture of how the housing market in the Iowa City area is doing we need to look at the Coralville and North Liberty Real Estate Market too.

Coralville forms a contiguous area with its neighbor Iowa City. It's just a couple of miles west of the UI Campus and even closer to the UI Hospitals and Dental Schools.

This will tell you how close we are as neighbors - the Wig and Pen Pub on the Coralville Strip has an Iowa City address, while their neighbor The Vine has a Coralville address...Cool fact, but not exactly need to know...

Anyway, I digress, let's get back to the housing market statistics for Coralville: There were 58 homes sold in Coralville in July 2009 compared to 67 in July 2008. The median price has risen to $171,500 from $157,000 last year.

I've lived in Coralville for the last ten years and love the fact that it's so close to downtown Iowa City and has a straight shot to North Liberty too. What it doesn't have right now is as many options for the first time homebuyer who is actually driving the housing market, so it's no surprise that the numbers are down a bit.

North Liberty on the other hand just grows and grows...Its great location between Iowa City and Cedar Rapids is part of the reason why, plus prices are a little more affordable than Iowa City or Coralville.

Sticker shock is not unusual for people relocating to the Iowa City area. North Liberty is close enough to be an excellent alternative when it comes to a more affordable alternative.

So now to the stats: There were 139 homes sold in the North Liberty area in July 2009 in comparison to 95 homes sold last year. The median price is down slightly from $147,900 to $144,900.

As you can see, North Liberty is flavor of the month with a whopping 46% increase in home sales since last year.

North Liberty offers lots of options for New Construction Homes and is particularly popular with the younger first time buyer looking for affordable town house style condos.

This is probably a good time to point out that if you're relocating to Iowa City and you're okay with a short commute, then you should definitely take a closer look at homes in North Liberty.

That completes my Coralville and North Liberty Real Estate Market Update for the month of July. Together with the Iowa City Real Estate Market Update you're on your way to getting a true picture of what's going on around here in my neck of the woods.

I intend to post monthly market updates for home sales in Iowa City, Coralville and North Liberty Iowa. Check back next month to see how we're doing!

Iowa City Real Estate Market

When I'm out and about and run into people it takes about 30 seconds for the topic of conversation to turn to what is on every Homeowner's and Homebuyer's mind...Just how is the Iowa City Real Estate Market doing anyway?

I'm an Iowa City Realtor who's also an information junkie, so researching market conditions is fun for me... Yes, I know - strange but true!

This is Part 1 of my take on how the Iowa City Housing Market is doing.

Part 2 covers  Coralville and North Liberty. The three areas are interconnected so it's the best way to see how the Iowa City Area Housing Market is trending.

It's the beginning of August so I'll start is with some market statistics for home sales in July for Iowa City.There were 172 homes sold in Iowa City in July 2009 in comparison to 152 homes sold in July 2008. The median price dropped from $169,450 last year to $159,250 this year.

So what does this tell us? It's easy to see that home sales are up and prices down, the question is why is that??

The answer may be easier than you think...First Time Homebuyers are driving the market in Iowa City, just the same as in other parts of the country.

How do I come up with that? First Time Homebuyers are not typically in the market for high end homes, they're just starting out and looking for the deals out there. 125 of the 172 homes sold in Iowa City in July were priced under $200,000. That's 72% of the homes sold.

I picked $200,000 as a benchmark for simplicity's sake, most first time homebuyers stay well under that amount, meaning that probably even more homes were sold to that segment of buyers than my estimated 72%.

This high demand for lower priced homes is the main reason for the drop in the median price.

Sellers in Iowa City can be happy about that. Technically it looks like home prices are falling when really the numbers are skewed by the fact that it's lower priced homes that are selling.

In June we saw a 0% change in home sales over 2008, and as a glass half full kind of person I thought that was pretty positive - after all, the market wasn't declining...

July home sales in Iowa City were up by 13%, what's not to like about that? All in all, to answer my own question, the Iowa City Real Estate Market is looking pretty good right now for homes in Iowa City.

How about Coralville and North Liberty? How do they compare to Iowa City? I can tell you this much, North Liberty is having a big impact on sales in the area. You can read more in my post Coralville & North Liberty IA Real Estate Market Update.

This is my first post giving you the latest data on home sales in Iowa City, Coralville and North Liberty Iowa. Check back monthly to see how we're doing!

Source for market statistics: Iowa City Area MLS August 5, 2009

Many Thanks to HHoran Studio for the aerial photo of Iowa City