Davenport Iowa Real Estate

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Iowa Market Report For September!

Quad Cities Favorite Realtor

Lucky Lang
September 2008
Real
Call Lucky for all of your Davenport, IA & Quad City Area Real Estate needs at (563) 676-9031
Copyright © 2008 Realty Times
All Rights Reserved.





What the Housing and Economic Recovery Act of 2008 Means for You

  Good news has made its way into the real estate arena this summer -- in the form of the Housing and Economic Recovery Act of 2008. What does this Act mean for you?
      It means a lot if you are in the market to be a first time homebuyer -- up to a $7,500 tax credit if you purchase before July 1, 2009. And there's more good news. First time homebuyers is defined as, "a buyer who has not owned a principal residence during the three-year period prior to the purchase."
      This means for all those markets that have started to stabilize, now could be a

Mortgage Rates
U.S. averages as of August 28, 2008:

30 yr. fixed:   6.40%
15 yr. fixed:   5.93%
1 yr. adj:        5.33%
30 yr. jumbo:  6.98%


View current rates





great time to buy.
      Let's take a closer look at just what this new incentive entails.
      In order to receive the tax credit you must have purchased your home -- single-family detached, townhouses and
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Wondering What Your Home Is Worth?

Let me show you.





Moving Away From Heavy Gasoline Use

     You may have to move to get away from the high cost of gasoline.
      Well, you really can't get away from the high cost but a move could help you use less gas.
      That is, if you move to a transit oriented development (TOD).
      If your next home is in a TOD community, your housing choice could help defray the cost of gasoline by lowering demand and dependency on its use while easing the environmental impact of burning fossil fuels and sprawl.
      With a gallon of gasoline around the $3.75 mark -- up more than a buck from a year ago nationwide -- a group of organizations say housing affordability isn't only a measure of what portion of your income you shell out for the mortgage and related costs, but also the cost of transportation to and from work, school, worship, shopping, medical care and the host of other destinations you regularly visit.
      Simply put, the nearer you live to those destinations or the more CONTINUED >>>




New Fed Rules To Prevent Future Runs on Bad Loans

     Paramount in new federal regulations approved to foster more responsible mortgage lending, are the implications for consumers shopping for a home loan.
      The Federal Reserve Board's new rule amends the "Truth In Lending Act," Regulation Z under the "Home Ownership and Equity Protection Act (HOEPA)".
      HOEPA was originally passed in 1994 to target abusive practices in home equity lending. The Fed's new move extends protections to home purchase loans.
      Critics complain the rule is long over due because unfair, abusive and deceptive home mortgage lending practices get much of the blame for the current housing crisis that has already put millions of properties in foreclosure and former owners on the street.
      Also, most lenders long ago curtailed many of the practices now forbidden by the new regulations, critics say. The horse is already out of the barn, so to speak, and the new regulations will do little to corral the market's downward stampede.
      However, the new rules should help prevent future runs on bad loans by helping remove them from the market. Perhaps more important, key provisions in the new rules will give consumers cause to pause before shopping for a CONTINUED >>>



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You can find many great Davenport real estate agents 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.




How To Find A Solar
System Contractor


     With city, state and federal initiatives shouting 'solar!' from the rooftops, finding competent solar equipment installers is paramount.
      Solar and other renewable energy rebates and initiatives from the federal government down to city jurisdictions are prompting more contractors to hang a "solar installer" shingle, take to rooftops and cash in on the demand.
      It's relatively simple to install and maintain a $30,000 flush-mounted, rooftop, 320-square-foot, PV array efficiently generating 3 kilowatts -- enough power to meet the needs of a 2,500 square foot home.
      Simple that is, provided the PV panel installer is experienced in the task at
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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


August Round Up:

Open The Doors And Buyers Shall Come - But Prepare First!

Investor Report: Hidden Tax Pitfall

Don't Overlook The Garage When Getting Your Home Ready To Sell



Lucky Lang
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, QUAD-CITIES FAVORITE REALTOR®

Lucky Lang, Realtor ®           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

LuckyLang.com

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, VOTED FAVORITE REALTOR®

Lucky Lang Davenport Iowa Real Estate for Sale

Lucky Lang, SRES®, RFC, M.I.S.

Licensed in Florida & Iowa

Keller Williams Realty, 830 Bald Eagle Drive, 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 10 commentsLucky Lang • September 27 2008 10:32PM

Comments

I really enjoy you newsletter.  It is so well put together and filled with current information.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Randy,

Thanks!  I got it out late this month because I've been VERY busy! 

Yesterday, I just got my SRES certification.

Maybe I'll blog about that next week.

Aloha,

Lucky :)

 

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) over 10 years ago

SRES is one of the certifications I have not tried for yet.  I look forward to your blog post about it.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 10 years ago

Randy,

Maybe this week?

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) over 10 years ago

Hi Lucky- just stopping by to see whats happening on the other side of the state. 

Posted by Jason Smith (DreamDirt Auction) over 10 years ago

Jason,

It's been a VERY active year for me and the Best that I've had in over 17 years of Real Estate!  I will close over $10 Million in sales by the end of December!

It has been a pleasure assisting hundreds of people realize their Real Estate dreams in the Davenport, Iowa and surrounding communities!!!

How are things with you over there?

Take care!

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) over 10 years ago

Lucky you are an absolute ROCKSTAR.  $10 million in volume is a heck of an accomplishment.  You are the best real estate agent in Davenport in my mind!!! 

Things are good over here in western Iowa. I don't sell many homes anymore, pretty much just land in Iowa and lots of auctioneering.  I haven't added up my volume but my first close this year was $1,400,000...... both sides.  I do agree that its been a very good year!

Posted by w p over 10 years ago

Jason,

Thanks for the kudos!

That sale of yours really kicked the year for you, didn't it?  I've never had one over $1 million.

Here is my latest newsletter that I just posted:

Iowa Market Report For October!

My November should be up within the week!

Thanks,

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) over 10 years ago

Lucky, thanks for the Iowa report.  We are still going strong in Pella I should end the year right at 7 million.  Wishing you the best in 2009

Posted by Kathy Kooyman (Home Realty) over 10 years ago

Kathy,

Way to kick it!

How is 2009 going for you?

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) about 10 years ago

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