Davenport Iowa Real Estate


Iowa Market Report For November!

Quad Cities Favorite


Lucky Lang, SRES®
November 2008
Call Lucky for all of your Davenport, Iowa and Quad City Area Real Estate needs at (563) 676-9031
Copyright © 2008 Realty Times
All Rights Reserved.

Smaller Homeowner Relief Already In Place

  Don't wait for home owner bailout provisions to trickle down from the $700 billion Emergency Economic Stabilization Act of 2008," (H.R. 1424) recently rushed through Congress.
      When it comes to help from new federal legislation for distressed home owners, the $300 billion "Housing and Economic Recovery Act of 2008" (H.R. 3221), signed earlier this year, can provide more immediate relief.
      The $300 billion recovery act has both a mandated mortgage modifying provision and a voluntary "Hope For Homeowners" (H4H) refinance program, for home owners who qualify.

Mortgage Rates
U.S. averages as of October 30, 2008:

30 yr. fixed:   6.46%
15 yr. fixed:   6.19%
1 yr. adj:        5.38%
30 yr. jumbo:  6.98%

View current rates

      President Bush signed the larger $700 billion stabilization act on Oct. 3, 2008, but it is, in-part, "stay tuned" legislation. Exactly how it will be implemented to help home owners -- or the economy at large, for that matter

Wondering What Your Home Is Worth?

Let me show you.

Good News For
Qualified Buyers

     A recent survey released by Trulia, a real estate search engine, community forum center, and reporter of market trends and data, found that a "crisis of confidence" exists among key groups of U.S. homebuyers.
      Not surprisingly, much of the lack of confidence in the real estate market stems from the mortgage fallout, the instability of the real estate market, uncertainty of economic times, and the upcoming election.
      According to the survey, which included about 1,500 respondents, 70 percent of non-homeowners have no plans to purchase a home in the next 12 months and nearly half in the 18 to 34 age group say the reason is because it's too costly. While those in the 35 to 44 age group are concerned that they might not be able to qualify for a home loan. The survey also found that only 12 percent of the non-homeowner respondents said they expect to buy a home in the next 12 months.
      In a press statement, Pete Flint, CEO of Trulia said, "This combination of CONTINUED >>>

Credit Unions To The Rescue

     Been down to your friendly neighborhood credit union lately?
      You could find that elusive home loan you been unable to get anywhere else.
      Credit unions didn't need a bail out during the Great Depression, they didn't need federal intervention during the Savings & Loan debacle and they don't need government assistance now. In fact, right now, they are rolling out the red carpet for home loan borrowers.
      During the boom, credit unions avoided writing subprime home loans and other easy-money mortgages. They also shunned selling packages of mortgages to Wall Street moguls who packaged them into now low- to no-return securities. That means credit unions are relatively untainted by the credit squeeze and they have both money to burn and a sound business foundation that allows them to keep on lending.
      Instead of fearing the next Great Depression, member-owned credit unions are bracing for what could be their boom time in home loans and other financial services, now that banks and mortgage lenders are crashing and burning.
      Mortgage production among credit unions is small by comparison to banks and mortgage lenders, but their originations rose a whopping 10.1 percent during the first half of 2008, according to the industry's federal regulator, the CONTINUED >>>

Read My Blog!!!

You can find many great Davenport real estateagents and loan officers on ActiveRain.com Lucky Lang is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

Improving Indoor
Air Quality At Home

     Over the past few years energy efficiency within homes has been greatly improved upon. The modern approach to home design goes another step further by also greatly improving indoor air quality. By following a few simple tips and guidelines, you can work to better your family's respiratory health. Here's a room-by-room checklist for homeowners looking to achieve optimal health at home.
      Let's start on the lower level. Basements are prone to water leakage. Once the walls or floors have become moistened, mold can begin to grow in the drywall or carpet making you or your family sick. According to Dan Vandervort of HomeTips.com, gutters are an easy solution to routing water runoff away from

Local Market Conditions

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles

October Round Up: Rates On The Move

FHA Still Going Strong

Investor Report: Bailout to Aid Investors

Don't Let Pesky Insects Hurt the Sale of Your Home

Lucky Lang, SRES® 
E-mail: llang@melfosterco.com
Web: http://www.LuckyLang.com
(563) 676-9031

Mel Foster Company
(563) 823-2213
3211 E 35th St. Ct.
Davenport, IA 52807

Equal Housing Opportunity


We are turning the corner!  This is a great time to buy a home!

For more information on what this recent market information from the Quad Cities means to you please call:


Lucky Lang, SRES® 

Licensed in Iowa & Illinois 

Mel Foster Co., Inc., 3211 E. 35th Street Ct., Davenport, IA  52807-2585

Cell: (563) 676-9031    Office: (563) 823-2213    Fax: (563) 459-6720    Toll Free: (800) 791-8132 Ext. 2213


Don't let this great Real Estate buying opportunity pass you by!!!


For info about Real Estate Anywhere in the World, please call:


Lucky Lang Davenport Iowa Real Estate for Sale

Lucky Lang, SRES®, RFC, M.I.S.

Licensed in Florida & Iowa

Premiere Plus Realty, 886 Park Ave. #103, Marco Island, FL 34145

Cell: (563) 676-9031

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Don't let this great Real Estate buying opportunity pass you by!!!

Comment balloon 1 commentLucky Lang • December 07 2008 06:38AM
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