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.

July 27, 2017

Mortgages and Interest - The Shorter the Better

 

At least consider a shorter one

Affordability and stability are reasons home buyers choose a 30-year fixed rate mortgage. It makes the payment lower than a 15-year mortgage and the principal and interest portion of the payment will be constant for 30 years.

A common belief among homeowners for decades was that they would always have mortgage payment. The Great Recession has caused many individuals to rethink that concept and make plans to get their home paid for sooner.

For people who can afford it, shorter term mortgages will provide a lower interest rate and build equity faster. A 3.09% 15-year fixed-rate mortgage compared to a 3.87% 30-year loan will have a $562.42 higher payment.

The equity would be $66,903.04 greater on the 15-year term at the end of seven years. Even after you consider the higher payment on the shorter term, the equity difference is still almost $20,000 greater.

By choosing a 15-year loan, a borrower is committing to the higher payment for the term of the mortgage in exchange for a slightly lower interest rate. Another approach would be for the borrower to acquire a 30-year mortgage and make payments as if it were on a 15-year term. The slightly higher rate would allow the borrower the flexibility of not having to make the higher payment in the event he could not afford it on any particular month.

Have questions, call me Georgia Weaver 712-291-0118, I can put you in touch with a great mortgage provider who can help.

July 27, 2017

Recommendations from a few of our recent Clients at Weaver Realtors

Testimonials 

Just a few words of thanks, WE THANK YOU for choosing us, we know you have a choice and we promise to provide you with the best local professional real estate services in the Storm Lake area. We care about how we do business, we are stewards of this company. We care about how our clients and customers are served, we care that ALL our clients and customers are happy and satisfied with the level of service we provide.

"A steward is one who manages the possessions of another. We are all stewards of the resources, abilities and opportunities that God has entrusted to us. God owns everything, we are simply managers and administrators acting on his behalf."

- Georgia Weaver 

What Our Clients Are Saying:

Georgia is very knowledgeable and helpful. She made every step of the process smooth and easy. Our first listing wasn't even on the market for 5 days and it was sold!  Brandon and Nicole Axdahl 2017

Brandon and Nicole, you guys are amazing, you do so many things I am in awe of how you get it done.  I love working with other entrepreneurs very inspiring!

When we first met Georgia we loved her. She knows her job and makes you feel special. There is nothing that could be improved in the way you do business, you are great. If you need a realtor, call Georgia she will go the extra mile for you! Very Professional. Lisa Steemke and Linda Wallace 2017

Lisa and Linda, what a joy working with you, it took a while but so worth the wait! You have the perfect house. Relax and enjoy - you both deserve it!

Our transaction closed on time, Georgia is a great resource and professional, our property was listed with 2 other Realtors but didn't sell. She did a great job, communicated very timely and very glad we worked with her to finally get the home sold. Hesselman 2017

Becky and Steve, so glad I could help out a fellow real estate professional and friend. Lovely home, just took some special marketing.

We bought our current property through Georgia at Weaver Realtors, and we were impressed with her professionalism. Therefore, we chose her to sell our home. Georgia has helped us both buy and sell a property recently. She is friendly and professional. She made the buying and selling process easy and painless. Highly recommend Georgia and Weaver Realtors. Josh Fischer and Monica Firme 2017

Josh and Monica, so great to work with you again!  Your home sold so fast, it was great, but it was also because you put the work into making it beautiful and ready to sell. Thank you!

I had heard how good you were. You did a great job can't improve at all. You were so nice to me and did a great job, and I made a new friend. Elayne Boyd 2017 Sold 

Elayne, loved working with you, you are a sweet dear friend, wish you were closer so we could share some Lemmoncello cake at Giovanni's again. But, very glad you are closer to your daughter.

 

Thank you One and All!

July 25, 2017

Annual Credit Report - Don't Put It Off

Don't Put This Off - Remember to Get Your Annual Credit Report

You are probably aware that Federal law entitles you to a free copy of your credit report annually by each of the three credit bureaus: TransUnion, Experian, and Equifax. By regularly looking at each of these reports, you can determine if there are any errors on them and be aware of your credit worthiness.

Instead of ordering all three at the same time, experts recommend that you stagger them throughout the year. This will let you look at your credit at three different times during the year instead of only once a year.

An easy way make this happens on a timely basis is to set a recurring appointment on your digital calendar whether it is on your phone, your email program or a contact manager. Make the appointment to order a free credit report from www.AnnualCreditReport.com a recurring event to take place every four months. You’ll order one report from each of three companies once a year.

You can record that date and the bureau you ordered the last report in the appointment’s note section so that you’ll have a history and won’t try to order the same report twice in one year.

This isn’t just for people who are trying to clean-up their credit. This procedure allows you to monitor your credit to be sure that your report is accurate. You might even discover that someone is illegally using your good credit.

This is a SUPER Important thing to do every year!

July 24, 2017

Available homes in Storm Lake - It's a Rough and Tumble Business Right Now

Storm Lake real estate, not a lot to choose from and a highly competitive market. Not many homes available for sale in Storm Lake, 17 total as of today. If you are a buyer, it is very important you work with a Realtor who will take the time to help understand your needs and counsel you on what you need to do to secure a property. It isn't just going to see houses! You need highly skilled and trained Realtor working for you, they will need a signed Exclusive Buyer's Agency agreement, a pre-approval letter for a mortgage, you to be very flexible with days and time to get out to see properties as soon as they come on the market. You may need to e able to pay your own closing costs or at least be able to increase your offer the amount you are asking the seller to pay for closing costs.

Sellers have their own closing costs and in a low inventory market, there are more buyers who do not ask sellers to pay closing costs, so to be competitive you need to either pay your own or increase your offer by the amount you need the seller to pay. However, the property must still appraise for what you are offering.

As far as available properties in Storm Lake, of the 17 available homes, 8 are over $200,000, 3 of the 8 are over $300,000 and 1 is over $600,000. The remaining properties, 9, range from a condo at $59,900 to a house at $188,000. 

Of the 9 homes under $200,000 six have been on the market 25 or more days - indicating they are possibly over priced or have some other undesirable condition, since they have not sold in the very low inventory condition of the market.

One other tip is to have a successful, experienced, full-time Realtor who is a Certified Negotiations Expert (CNE) working for you. Your chance of securing a home with reasonable terms in a low inventory market with an inexperienced, part time realtor with no negotiations training is pretty low. 

Call me 712-291-0118, I can help

Georgia Weaver - Broker Owner

REALTOR, GREEN, CNE, CRS, PSI

www.WeaverRealtors.com

 

#1 Recommended Real Estate Company in Storm Lake on GOOGLE

Weaver Realtors gets results!

 

 

July 19, 2017

Storm Lake Pocket Listings

POCKET LISTINGS!!!! More properties listed with an accepted offer! These properties were not made available to the general public prior to accepting an offer. Makes me VERY concerned that these sellers don't understand they are probably accepting less money since the home is not available to ALL BUYERS. (SUPPLY and DEMAND). Research shows for every $100,000 in value the seller misses out on around $15,000.

 

If the company you are thinking of listing with shows and encourages you to negotiate on an offer before it is on the MLS, it is called a pocket listing and it is not only hurting your chance to get top dollar but it is also hurting local property values.
There are class action lawsuits in other states to get this practice stopped.
Even the government has taken action, unfortunately until there is a class action lawsuit that makes National headlines many brokerages will continue this practice, and continue to hurt their clients.
Weaver Realtors stands against this practice!
July 6, 2017

What is a Material Fact in Real Estate?

What is a Material Fact in Real Estate? It is a very important definition to know, for both buyers and sellers. If you are selling and you don't understand what is and what is not a material fact there is a stronger possibility you will be sued by a buyer who later discovers the omission. 

http://ow.ly/ETnd30cVYbt

July 6, 2017

Lots of sales closing this week in Storm Lake IA!

This is a very short week with the 4th of July holiday, so cramming 3 closings into it has been a big deal. But, this week we have buyers purchasing 1309 Shoreway Rd, Lanlan Chu (new Buena Vista University Economics professor) and Yunfei Teng. Congratulations! 

We also represent both the buyers Juana Robles and Able Sanchez and the sellers Jay and Annette Benedict on the sale of 112A Birch St in Lakeside. Congratulations to everyone!

Last but not least we represent Becky and Steve Hesselman on the sale of their home at 300 Geneseo St. Congratulations!!!

Thank you so much everyone, I personally greatly appreciate your confidence and trust. YOU are why I do what I do and why our company has the highest and most Real Estate company recommendations in our area on Google. Thank you!

300 Geneseo st Storm Lake IA - SOLD   112A Birch St Lakeside IA - SOLD

Weaver Realtors SOLD

June 30, 2017

Helping Buyers Get Offers Accepted in the Storm Lake Area's Strong Seller's Market

The local Storm Lake area housing market is super fast! This is great for sellers but not so great for buyers.

Buyers are competing with many other buyers on few properties. Sellers are less inclined to provide concessions like closing costs, home warranties, and inspection allowances when there are multiple offers.

So how do we help Buyers get into homes fast and make successful offers?

Part of our mission is to help educate the general public, buyers and sellers on how real estate works. So we provide an initial interview with buyers where we discuss and make recommendations on how to proceed and be successful in this type of market.

The first recommendation we make is that all buyers have their banking done and a pre-approval letter in hand. We prefer a local bank if at all possible, NO, I am not prejudice nor do I discriminate. But, I am an experienced, full-time professional Broker and I have been through hundreds of closings. A number of the online lenders are a nightmare to work with and in my experience some are at less than 30% getting the loan to close. 

The other topics we discuss include buyer's closing costs, home inspections, delayed closings, and moving in ahead of closing. Having the discussion about who pays the buyer's closing costs is very important. Both buyers and sellers have closing costs, in a buyer's market sometimes a buyer can ask the seller to help them with their closing costs, this is called a concession. However in a strong seller's market asking for closing costs can cost the buyer the property, especially if another offer comes in without closing costs requested. 

Home inspections are important in every purchase. In a strong seller's market it is important to have an inspection but to also understand the seller does not have an obligation to repair anything your inspection finds. So why have one; the inspection serves 2 purposes: 1. you  know the condition of the property and if it needs work and 2. if the inspection results in large issues you can void the offer (IF THE OFFER IS WRITTEN WITH THAT CONTINGENCY).

Delayed closings are when a buyer is unable to close within the standard amount of time, in the Storm Lake area that time frame is usually 45-60 days. The longer the closing is delayed the more risk the seller is taking that something could go wrong with the buyer's loan. Making the seller nervous is not a good option in a seller's market.

Moving in ahead of closing or Interim Occupancy - this is never a good idea in any market. Too many things can go wrong. What if the buyer looses his job, it has happened, or if the property has a fire, appliances break - who repairs? too many variables to risk.

It is all about the bottom line for the seller, as a buyer my job is to help you think like the seller so that we can put together an offer that stands out from the others. 

 

June 29, 2017

Super Hot Summer Storm Lake Housing Market

Well summer is here and we are nearly to the 4th of July. The local real estate market is very fast, we and in a strong seller's market. Which means more buyers than homes to buy, especially in several price ranges, like 3 bedroom 1.5 bath under $150,000.

July and August are always really fast because buyers want to get moved before their children start school. For a seller that is a good thing if they have their house in tip top shape and priced correctly, these properties usually have an accepted offer within 2-4 days on the Multiple Listing Service. 

For Buyers this is a tough time, they are competing with a number of other buyers for few homes. An agent or broker's skills and experience matter, they need to explain the current market condition, help buyers understand what a reasonable offer is by doing a Comparative Market Analysis, and then negotiate like they work for NATO to get the offer accepted! 

Sold by Weaver Realtors call Today

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.