Storm Lake Real Estate and Community News  

This blog is for everyone interested in real estate in Storm Lake, Iowa and the surrounding areas! The information is written by Georgia Weaver, the Broker for Weaver Realtors.

What can be found here and why should you follow this blog?

This blog contains information for Buyers, Sellers, Investors and Renters. Real estate is a fascinating topic and a very complex one. You can search this blog by topic to find exactly what you are looking for, it will also have all of our new listings. You can learn about Storm Lake's current local real estate market, and the current real estate market in the surrounding areas like Alta, Newell, Aurelia, Schaller, Early, Fonda, Cherokee, Sioux Rapids and others. 

For Buyers we will have topics including financing, down payment assistance programs, tips on how to compete with other buyers, how to offer, home inspections and how they work, the process of buying a property, what not to do after you have an accepted offer, the advantage of having a Certified Negotiations Expert on your side and a lot more.

For Sellers we will have topics including how to best price your property, how to prepare your property and see it through the buyer's eyes, home inspections and how they work, how to negotiate, the importance of staging, why pictures are worth a million dollars, the advantage of having a Certified Negotiations Expert on your side and a lot more.

For Investors - a topic I LOVE! Topics will include how to evaluate a property, what tools I personally use and access to them, how to find an investment property, what basic improvements cost if done by you or a contractor, how to find a good tenant, why you need your properties in an entity and not in your personal name, how to negotiate with buyers, sellers and tenants, 1031 Exchanges and a lot more.

For Renters - we list all the new rentals as we are notified of their availability on this blog, we can help you determine if it is time to buy instead of rent, help you determine what if any programs  - like down payment assistance - you may qualify for, discuss how to have a conversation with a landlord when the property you are renting is in need of work, and a lot more.

May 2, 2017

112A Birch St Lakeside IA Home For Sale

112A Birch St Lakeside IA home for sale!

Very nice 2/3 bedroom 1 3/4 bath home located in Lakeside. Great location, just a block from the lake. This home has many updates including permanent siding, nearly all plumbing has been replaced with PEX, newer roof on garage, and new sump pump. Very nice home inside and out. Enjoy the back yard patio, large 2 car garage with an attached shed for yard equipment.  

Watch the home tour here: 112A Birch St Lakeside IA 50588   If you would like to see this home, call me Georgia Weaver 712-213-4663. 

        

 

        

 

       

 

        

 

 

April 24, 2017

Iowa Solar Tax Credit DEADLINE

The May 1, 2017 Iowa Solar Energy System Tax Credit application deadline for 2016 installations is quickly approaching! If you installed a solar system during calendar year 2016, go to https://taxcredit.iowa.gov/ and fill out your application now. After the May 1, 2017 deadline, it will be too late to qualify for the credit. 

If you added any solar energy products your deadline to apply for tax credit is just a coming up fast. 

 

April 21, 2017

1107 Erie St Storm Lake IA - new home for sale by Georgia Weaver

1107 Erie St Storm Lake, IA 50588. Call me, Georgia Weaver 712-291-0118 to see this home! Lots of updates, including windows, furnace, hot water heater, sump pump, metal siding. 3 bedrooms and a bath up, small eat in area in the kitchen and appliances included. Owner believes there are hardwood floors under carpeting, but not certain. Covered patio in back yard, nice size lot beautiful red front door. Close July 10 or later

 

https://youtu.be/spf7-8dA6IY

April 21, 2017

Iowa Tax Implications of a Divorce - publication now online

Getting a divorce is a life-changing event. It is an emotional time but it is important to make sure your interests are protected. This publication is intended as a high-level outline of potential issues for taxpayers to consider and discuss with their attorneys during the divorce process. There are potentially different considerations under federal law and other considerations not referenced in this document. 

Download this important info https://content.govdelivery.com/accounts/IACIO/bulletins/194f8a1

 

April 21, 2017

New Storm Lake Listing Coming on the MLS tomorrow Morning

New home for sale, 3 bedrooms 1.5 bath, some updating done, some still needed. Ranch style home, garage, nice yard, metal siding, new windows, updated furnace and ac. Price is $93,000, showings begin after 2:00 today. New Storm Lake Listing

If you are looking for a home please give me a call and we will schedule a showing. If you want or need to buy it is very important that you have a bank pre-approval letter to be able to compete in the current low inventory market condition. If you have questions on getting pre-approved, call me or go to your bank and ask to complete a mortgage application. There will also be another larger home listing over the weekend or on Monday in Storm Lake. Price will be $149,500. 

Posted in Buyers
April 20, 2017

Weaver Realtors Advantage to Buyers

Buyer's Exclusive Agency the only way to go in a Strong Sellers Market!

Have you missed out on properties that you would have purchased? While that can't always be avoided, we can give you a definite advantage. Our buyers have the option to be exclusive buyer clients, that means our buyer has agreed to work only with us to find them the perfect home. It's a free service we provide and by agreeing to work only with us we put your interests at the top of our priorities.

 

Just one more service we provide our outstanding clients! Call me Georgia Weaver 712-291-0118 to see how to get exclusive representation to put you as a buyer ahead of the pack.

April 19, 2017

Sellers Real Estate Fee Explained

A SELLER's REAL ESTATE Agency Fee Explained

Think your agent is pocketing that whole fee and not doing enough to earn it?

Think again.

Here are the facts in the Real Estate World!

Real Estate Agency fees to sell a property vary by area and company, for us at Weaver Realtors, we base that REAL Estate Agency fee on what we expect it to cost our company to sell a particular property.

When a property closes, the BROKERAGES that the agents are contracted to (real estate agents are not paid a salary they are not employees, they are independent contractors contracted to a Brokerage), are who gets paid at closing, not your agent.

Once the Brokerage (company) is paid their part of the fee (which is usually divided 50/50), they then pay their respective agent whatever fee or percentage they have contracted with that agent.

Since agents are not employees the fees they receive go to pay advertising costs, auto costs, insurance, continuing education, marketing fees, signage and photography among others.

The brokerage has similar fees to the agent and the additional cost of a brick and mortar building, website/s, administrative assistance, insurance, phone systems, office equipment, building maintenance, etc.

 

The big thing to remember is, if your property doesn't sell, your agent and the company they represent do not get paid for the work and the money they have put into your property.

Have questions, call me Georgia Weaver 712-291-0118

April 18, 2017

Wealth Building through Real Estate - 1031 Exchange

Some real estate investors are able to hold on to their proceeds from the sale of an investment and agree to pay the tax later, through the implementation of a 1031 Exchange. This is a great way to save for the future!

A 1031 exchange enables an investor to defer the taxes due from the sale of an income producing property into the new or replacement property. This is a great investment option because it provides more money to be reinvested. 

There are some rules and strict deadlines.

Personal use real estate like a primary and second home can not be used in an exchange. The property to be exchanged must be like-kind or real estate for real estate. Rental property can be exchanged for other rental or investment property. 

Timing deadlines are iron clad, the investor must identify the replacement property within 45 days of the sale of the sold or relinquished property. The new or replacement property must be closed within 180 days of the sale of the sold property.

The replacement property must be of equal or greater value, equity and debt than the one being relinquished (Sold).

All net proceeds must be used in acquiring the replacement property. No money can be received by the seller out of the exchange.

A tax deferred exchange may sound difficult, and there are rules, but it is relatively easy. You will need to consult your tax person, work with a professional real estate person, and a company called a qualified intermediary. It is important that the owner of the property be hands off in the transaction for it to be valid. There are also strict rules on who can purchase the relinquished property, as in not a relative.

Additional information can be found in IRS Publication 544.

Need more info? Call me Georgia Weaver, 712-291-0118 - this is one of the best wealth building tools available. 

April 17, 2017

Is your Realtor Costing You Money by Delaying MLS Availability?

Delayed MLS Availability Costs Sellers MONEY?

This is a very hotly debated topic in the Realtor world that, in my opinion this practice negatively impacts sellers in our area. 

I am concerned about a trend I am seeing in our market. It is also present in other markets where inventory is low. We have very low inventory and homes are selling quickly, sometimes even before they are put on the multiple listing service (MLS) and before all realtors and buyers are given access to them

When that happens today, in our low inventory market, more than likely it is costing the seller money.

How: Most properties are selling for list price or higher, sellers need to agree to very few concessions (like closing costs, delayed closings, etc) to get their property sold. But, when a listed property is available to only one companies (Brokerage) buyers it restricts the number of offers on a property. It does this by limiting the showings to only those buyers represented by the company that listed the property. 

"Do you allow showings before my property is available to all realtors and buyers in this area?"

This is a very important question to ask your Realtor. Better yet, tell your Realtor you do not want any showings until your property has been available on the MLS (Multiple Listing Service) for at least 24 hours. This will ensure you, Mr/Mrs Seller are receiving offers from all local buyers that would be interested in a property like yours. This will also ensure you are receiving the highest price for your property.

As I said this is a very hotly debated topic but for me it is crystal clear. A Realtor is responsible to do what is best for their clients just like an attorney. This practice is not what is best for their sellers. 

April 17, 2017

Carpenter Ants in Your Home?

In your Spring and Fall house check, be sure to check the attic of your home, rafters and any wood in your home or garage for the presence of carpenter ants. Unlike termites they don't eat wood, they just hollow out channels for their living space. The can do a lot of damage, just like termites. If you live in Iowa you can submit insects for identification - check out the link.

If you plan on selling your home it is important that you remove any pest present in your home, whether that is bats, termites, carpenter ants or something else. We don't recommend harsh chemicals that can soak into materials and cause future problems. 

The best method is prevention, keep trees back off your home, clean gutters at least 2 times a year, remove all debris that gathers around any structure, keep your attic, house, basement and garage dry. Keep all food off counters, and check your home at least 2 times a year. 

A home inspection by a buyer should turn up signs of carpenter ant and other pest damage, the presence of these ants and termites along with other pests can end a sale. Prevention is always the best idea, before something becomes a costly problem.

http://www.ipm.iastate.edu/ipm/iiin/node/3

    Damaged wood from a carpenter ant colony

 

  These are large ants