Iowa City Real Estate Blog

2184 Westminster Circle, Coralville IA 52241

Tue, 09 Mar 2010 14:45:09 -0600

Luxury Home for Sale: 2184 Westminster Circle, Coralville, IA 52241 - $224,000

Fabulous luxury home in a superb Coralville location. Prepare to be impressed with the contemporary style and class of this beautiful two story home with walkout basement and upgrades galore. Take note of the Alder wood kitchen and bathroom cabinets and trim throughout. And the durable and resilient birch hardwood floors on the main level. To complete the picture you will love the wonderful use of color throughout!

All of this in a sensational Coralville location in the highly desirable Welsh Village neighborhood with a straight shot to Iowa City, UIOWA and the UI Hospitals. You don't want to miss this. Come check out a home definitely a cut above the rest!

Bonus: Motivated sellers are relocating and willing to pay up to $10,000 for closing costs and prepaids with acceptable offer. (Please call me for details @ 319-400-0268).

And we're not done yet. Owners willing to include hot tub in price if desired. Watch College Football from the hot tub - It doesn't get any better than that!

Parts of Coralville are a really good and easy commute to the west side of Iowa City. This is one of them. Here's a link to a map illustrating that so you can see what I mean.

Price: $224,000

Built: 2006 - Zoned as a condo this home has all the benefits of a single family home

Style: Two-Story with Walkout Basement

Bedrooms: 4

Bathrooms: Master Suite + 2 Full Bathrooms + 1 Half Bath

MLS# 20101706

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Please remember that opinions expressed in my blog are just that - opinions - not fact
For legal or accounting advice please consult with a professional
Although the information provided is deemed reliable, it's not guaranteed

Weekly Real Estate Market Update Iowa City March 8, 2010: Homes Sold - Under Contract - Active Listings

Mon, 08 Mar 2010 11:37:59 -0600

Weekly real estate market report Iowa City March 8, 2010

584 Active Listings
101 Homes Under Contract
12 Homes Sold March 1 - March 6
8.0 Months of inventory on the market

An absorption rate of 8 months means Iowa City remains a buyers market for now. The absorption rate takes into account homes sold and not those under contract. And with 101 homes under contract we can see there's a lot of buyer activity in Iowa City with buyers wanting to take advantage of the homebuyer tax credit before the deadline of April 30, so we will probably see some changes in this trend soon.

If you're not familiar with the absorption rate, more than 6 months inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote including the absorption rate with an explanation on how it's calculated.

Last week's real estate market update for Iowa City

Real Estate Market Report for Iowa City February 2010

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Weekly Real Estate Market Update Coralville March 8, 2010: Homes Sold - Under Contract - Active Listings

Mon, 08 Mar 2010 11:22:26 -0600

Weekly real estate market update Coralville March 8, 2010

226 Active Listings
39 Under Contract
6 Home Sold March 1 - March 6
8.8 Months of inventory on the market

An absorption rate of 8.8 months means Coralville remains a buyers market. Coralville does well with move-up buyers and there is a lot of buyer activity right now. The homes sold number is starting to tick upwards, so it looks like those repeat buyers taking advantage of the homebuyer tax credit may soon have a positive impact on the Coralville real estate market.

If you're not familiar with the absorption rate, more than 6 months of inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote including the absorption rate and an explanation of how it's calculated.

Last week's real estate market update for Coralville

Coralville real estate market report February 2010

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Social Media - Sinkhole, Magic Bullet, or Just the Best Bang for the Buck You Can Get?

Wed, 09 Dec 2009 11:41:07 -0600

I have seen 2 posts recently sharing Mike Parker's (negative) view on social media. Here's a link to an article of his on the BrokerAgentSocial network. (Note the irony of posting this article on a social networking site - Hmm??)

Let's check out whether he is qualified to state his opinions as facts on the subject of social media: First of all, Mike Parker is the Principal for Compass Internet Systems, an SEO Company that charges mega bucks to optimize agents websites and get them on the first page of Google. Part of Compasses pitch is to assure you that you will get leads from your optimized website. I'd suggest he has zero interest in you getting your leads for FREE on twitter or Facebook - Reason enough to slam the "competition" I'd say...

Okay, so now lets look at the attack itself: Does Mr Parker know what he's talking about? Probably not. As far as I can tell he has no actual proof that social media doesn't work, he's just stating an opinion. Has he tried using either Facebook or twitter for business purposes? I think not. I'd say what he's basically doing is telling us that the Chinese restaurant down the street sucks, although he's never actually been to that restaurant... A reliable source? Again, I think not!

Let me just say that SEO, (search engine optimization) and social media are BOTH important when it comes to creating a strong online presence. I believe we need to embrace the different technologies and platforms to achieve our goals.

What I think is the strength of social media is that we have an opportunity to show our authentic selves. People can "get to know us" before they call or email. You need to "get" social media to know what I'm talking about here. If you do get it you'll know that twitter and Facebook offer the perfect opportunity to "connect" with the buying and selling public in a way that was not possible before these platforms came to be.

Having said that, SEO has not become redundant through the arrival of social media. We still need to optimize our websites and our blogs. They work in tandem with one another. Anyone who can't see that is short sighted and missing out on the huge opportunities the different technologies and platforms give us.

Now in case you're wondering, I have no first hand proof that social media works yet. I have been an ActiveRain member for just over 4 months. A couple of weeks later I started a Facebook Fan Page and became active on twitter. AR is a great community where you learn A LOT. Through professionals I have come to trust on this network I know that blogging and social media is a marathon not a sprint. Just like any other form of marketing, this will take time too.

And by the way, getting back to Mr Parker at Compass. That's what they told me too. SEO is not an overnight sensation, it takes time to optimize a website, that's why they only do annual subscriptions (!) One year later I was $3500 lighter and NOT on the front page of Google... I think I'll take my chances with social media.... It's not a sinkhole, or a magic bullet - And it may be time consuming, but it is FREE.

Peggy Chirico wrote one of the posts I mention in the first paragraph. It's a members only post, which is why I haven't linked to it directly.

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New Movies & Things to do in Iowa City & Coralville This Weekend

Fri, 05 Mar 2010 11:10:03 -0600

It's Friday already and time for my weekly update on new movies in Iowa City and Coralville. I'll start with the new releases for March 5 and include a couple of other ideas on things to do in Iowa City this weekend.

You can check the schedule for movies at the Coral Ridge Mall Movie The atre in Coralville and the Sycamore Mall Cinema in Iowa City...

Exciting weekend for movie-goers this weekend with Tim Burton and Johnny Depp sure to make box office with Alice In Wonderland. Johnny Depp is the Mad Hatter and I'm sure he'll be sensational! The other new release this week is Brooklyn's Finest also starring some pretty top notch actors, including two of my favorites, Richard Gere and Ethan Hawke. It's a tension filled drama revolving around three police officers in the NYPD. Hardly worthy competition for Alice! So sorry guys, maybe next time...

When it comes to live entertainment you can't beat The Mill - as readers of the Press Citizen will tell you. Tonight, members of the renowned Writers Workshop will be picking up their guitars and singing rather than reading their work - Very Dylanesque... On Saturday Dave Zollo & the Body Electric will be playing their brand of blues and rock music.

If you like your country music with dance then check out the Wildwood Smokehouse & Saloon. Great music and great food and free wi-fi...They often have specials too like all you can eat ribs on Wednesdays...They're on Facebook and do a better job than anyone else I've seen using that media to give info on specials and upcoming events.

I'm going to round it up this week again with The Iowa City Yacht Club. They hit my radar recently as it seems they find the bands with the most original names to play there... Hen House Prowlers & Porch Builder will be playing there tonight. (Definitely up there for original names.:-) The fun continues on Saturday with Dennis McMurrin & The Demolition Band.

For more ideas on things to do in Iowa City this weekend I've written a couple of posts pulling things together making it easier for you to find theaters and live entertainment venues in Iowa City.

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Need your Parents to Co-sign? Maybe you still qualify for the Homebuyer Tax Credit...

Wed, 03 Mar 2010 15:01:10 -0600

Here in Iowa City it's condo buying season and there are lots of students out buying homes with their parents as co-signers. A question that came up for me last week was whether or not these students can claim the homebuyer tax credit. You might expect the answer to that to be no... Well, hold your horses, here's some info that shows it can go either way...

First of all, students who are claimed as a dependent by their parents will not qualify for the credit. HOWEVER, if they are not claimed as a dependent then it's a whole different story...

This is an excerpt directly from the IRS site.

S2. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify.

A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.

Here's a link to the original document and some different scenarios.

Here are a few links to other posts I've written about the homebuyer tax credit:

How the Homebuyer Tax Credit Works

Expanded Homebuyer Tax Credit Now Includes "Repeat Buyers."

You don't need to sell your home to qualify for the $6500 repeat buyer tax credit

Phase out range on income limits for the homebuyer tax credit

Of course I am not a tax adviser, so please don't make major financial decisions based on this post. It's much more about pointing you in the right direction for you to go and ask your CPA what applies in your specific situation.

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Real Estate Market Update: Homes Sold in Iowa City February 2010

Tue, 02 Mar 2010 20:33:02 -0600

Real Estate Market Update: Homes Sold in Iowa City February 2010

It's the beginning of the month and time to look at home sales in Iowa City in February.

The number of homes sold in Iowa City in February was down compared to last year. 28 homes sold in February 2010 in comparison to 39 in February 2009. If you look at my weekly update, you'll see that we have a lot of homes under contract, so even if we didn't have a bunch of closings in February, they are in the pipeline...

The median price of homes sold in February was $160,500, compared to $162,900 last year with an average of 89 days on market.

Right now there are a lot of buyers out and about wanting to take advantage of the expanded homebuyer tax credit for repeat buyers, so it's not really so much the number of homes sold we should be looking at - it's the number of homes going under contract we should keep an eye on. Check back next week for my weekly report and see where we're at then.

Buying or selling, we have an interesting market right now. I'm all for getting information out there, so check back frequently to see what's going on in the Iowa City area real estate market. The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market.

Coralville Real Estate Market Report February 2010

North Liberty Real Estate Market Report February 2010

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Real Estate Market Update: Homes Sold in Coralville February 2010

Tue, 02 Mar 2010 20:12:34 -0600

Real Estate Market Update: Homes Sold in Coralville February 2010

It's the beginning of the month and time for a first look at home sales for February in Coralville Iowa.

The number of homes sold in Coralville was up in February compared to last year. 11 homes sold in February 2010 in comparison to 10 in February 2009. This is great news, especially since home sales were down in February in both Iowa City and North Liberty. If you follow my real estate market reports you'll know that Coralville hasn't been doing as well with the first time homebuyer as Iowa City or North Liberty. Coralville does well with the move-up buyer and I guess last month was a case in point.

The median price of homes sold in February was $214,900 compared to $185,500 last year. With an average of 88 days on market compared to 120 days on market last year.

The expanded homebuyer tax credit for repeat buyers continues to bring out buyers so the coming months should be interesting in Coralville and the greater Iowa City area.

Buying or selling a home in Coralville, we have an interesting market right now. I'm all for getting information out there... Why not subscribe to my blog below? It's an easy way to get regular market updates for Coralville and the greater Iowa City area.

In the meantime here's a link to my weekly market update for this week.

The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market. Questions? Just give me a call at 319-400-0268.

Iowa City Real Estate Market Report February 2010

North Liberty Real Estate Market Report February 2010

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Real Estate Market Update: Homes Sold in the North Liberty Area February 2010

Tue, 02 Mar 2010 19:40:42 -0600

North Liberty Iowa Real Estate Market Update February 2010

It's March already and time to look at home sales in February for the North Liberty area.

Surprisingly home sales are down compared to last year in the North Liberty area. 17 homes sold in February 2010 in comparison to 23 in February 2009.* I say surprisingly, because North Liberty is one of the fastest growing towns in Iowa and home sales are strong in the area. Check out my market report for the greater Iowa City area in 2009 and you'll see what I mean. You may also want to check my weekly market updates in the coming weeks, I'm sure we'll see this is just a glitch.

The median price of homes sold in February up at $160,000 compared to $135,900 in February 2009. That's an increase of 18%. The average days on market was 125 days, compared to 103 days on market last year.

North Liberty has benefited from the The homebuyer tax credit and now that some repeat buyers are also eligible it will certainly continue to have an effect on the North Liberty real estate market as we head towards spring. And remember, for this tax credit buyers need to have an accepted offer on a home by April 30, 2010, so this will mean a lively couple of months coming up in North Liberty.

Buying or selling a home in North Liberty, we have an interesting market right now. I'm all for getting information out there, so why not keep up to date and subscribe to my blog below? It's an easy way to get regular updates on the real estate market in North Liberty and the greater Iowa City area.

The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market.

*Oxford and Tiffin are included in the MLS data for North Liberty. 1 house sold in Tiffin and 1 in Oxford in February.

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Weekly Real Estate Market Update North Liberty March 1, 2010: Homes Sold, Under Contract & Active Listings

Mon, 01 Mar 2010 10:41:33 -0600

244 Active Listings

66 Under Contract

0 Homes Sold February 21 - February 27, 2010

5.4 Months of inventory on the market

The absorption rate for North Liberty is still good at 5.4 months and trending towards a sellers market. Although no homes sold last week there are 12 more homes under contract - A good sign that buyers are out taking advantage of the homebuyer tax credit before the deadline of April 30.

If you're not familiar with the absorption rate, more than 6 months of inventory of homes on the market is a buyers market, 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's the first post I wrote where I included the absorption rate with an explanation of how it's calculated.

Last week's real estate market update for North Liberty

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Weekly Real Estate Market Update Coralville March 1, 2010: Homes Sold, Under Contract & Active Listings

Mon, 01 Mar 2010 10:28:43 -0600

207 Active Listings

37 Under Contract

5 Home Sold Feb 22 - Feb 27

8.2 Months of inventory on the market

An absorption rate of 8.2 months means Coralville remains a buyers market. Coralville does well with move-up buyers and there is a lot of buyer activity right now, so those repeat buyers looking to take advantage of the homebuyer tax credit may soon have a positive impact on the Coralville real estate market.

If you're not familiar with the absorption rate, more than 6 months of inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote including the absorption rate and an explanation of how it's calculated.

Last week's real estate market update for Coralville

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Weekly Real Estate Market Update Iowa City March 1, 2010: Homes Sold, Under Contract & Active Listings

Mon, 01 Mar 2010 10:18:44 -0600

537 Active Listings

97 Under Contract

10 Homes Sold Feb 22 - Feb 27

7.5 Months of inventory on the market

An absorption rate of more than 7 months means Iowa City remains a buyers market for now. There's a lot of buyer activity in Iowa City with buyers wanting to take advantage of the homebuyer tax credit before the deadline of April 30, so we will probably see some changes in this trend soon.

If you're not familiar with the absorption rate, more than 6 months inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote including the absorption rate with an explanation on how it's calculated.

Last week's real estate market update for Iowa City

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Iowa City Real Estate: Don't Pay $59.00 For A Duplicate Warranty Deed

Tue, 12 Jan 2010 09:36:20 -0600

Iowa City Real Estate: Don't Pay $59.00 For A Duplicate Warranty Deed

If you live in the Iowa City area you don't need to pay $59.00 for a duplicate warranty deed. Now I'm pretty sure you don't need to pay that anywhere in Iowa or the rest of the country, but since I am only 100% certain of my facts for around here I will limit this post to talking about that.

At the beginning of the year it seems there are some shady companies out there wanting to make a fast buck. They send out letters to unsuspecting new home owners offering them "bargain priced" warranty deeds. Every year I get a call from at least one client around this time asking me if they need a warranty deed and whether they should write the check. The answer on both counts is NO. You don't need a warranty deed and if you for some reason feel you'd like to have one anyway, then just pop down to the recorder's office in Iowa City. They will make you a copy for 25¢ and for $2 they will certify it!

So what's a warranty deed anyway? A warranty deed is what is signed by the sellers at closing to transfer property. After closing it goes to the recorder's office and it is recorded in the public records that the property has changed hands. The only times it's likely to be looked at again is either when the property changes hands again, or you refinance... Hard to see why you would actually need a copy yourself, but as I said if you feel you do and you live in the Iowa City area, don't pay $59.00 for it, the Iowa City recorder's office has a much cheaper solution.

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Weekly Iowa City Real Estate Market Report: Homes Sold, Under Contract & Current Listings

Mon, 22 Feb 2010 10:25:45 -0600

Weekly real estate market update for Iowa City February 22, 2010: Homes Sold, Under Contract & Active Listings

511 Active Listings
96 Under Contract
5 Homes Sold Feb 15 - Feb 20
7.0 Months of inventory on the market

An absorption rate of 7 months means Iowa City remains a buyers market for now. Despite the extremely cold and long winter we're having there are a lot of buyers out and about wanting to take advantage of the homebuyer tax credit and with 96 homes under contract things are looking good for spring.

If you're not familiar with the absorption rate 6 months of inventory of homes on the market is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote where I included the absorption rate and an explanation on how it's calculated.

Last week's real estate market statistics for Iowa City

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North Liberty Real Estate Market Report January 2010

Thu, 04 Feb 2010 10:31:51 -0600

North Liberty Real Estate Market Report January 2010

It's the beginning of the month and time for a first look at homes sold in the North Liberty area in January.

Homes sold in North Liberty are up by 11% compared to last year. 20 homes sold in January 2010 in comparison to 18 in January 2009. Considering you really need to be motivated to buy a house in a very hard and bitterly cold winter in Iowa this is definitely good news.

The average price of homes sold in January was also up slightly at $154,752 compared to $144,130 in January 2009. That's an increase of 7%. With an average of 80 days on the market.

North Liberty benefited greatly from the first time homebuyer tax credit all through last year and January continues in that trend. It will be interesting to see what effect the expanded homebuyer tax credit for repeat buyers will have on the North Liberty real estate market as we head towards the home buying season. And remember, this tax credit is a limited time offer with little chance of being extended, so this could mean a lively couple of months coming up in North Liberty.

Buying or selling a home in North Liberty, it's definitely a good time to keep an eye on the market. The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market. A CMA - Current Market analysis - is something sellers are used to. I believe there is a benefit to buyers too before they make an offer on a home and provide a CMA for both buyer and seller clients.

Source for data: Iowa City Area MLS February 4, 2010

Iowa City Real Estate Market Report

Coralville Real Estate Market Report

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