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Davenport, Iowa: Market Report For May 2010!

By Lucky Lang

Real Estate Agent with Premiere Plus Realty Marco Island BK3351211

May 26, 2010 05:29 AM

Quad Cities Favorite REALTOR®

Lucky Lang

May 2010

Call Lucky for all of your Davenport, Iowa and surrounding Quad Cities Real Estate needs at (563) 676-9031

Five Key Areas to Pay Attention to When Buying a Home

  Looking for a new home can be exciting and frustrating. You can help alleviate the frustration by paying close attention to five key areas of the homes you're considering buying; it may save you money in the long run.
      Don Walker is an inspector and owner of Ace Home Inspections. He says there are five areas in homes that he frequently reports problems with. They are electrical, foundation, plumbing, the attic, and landscaping.
     Electrical: Walker says sometimes homeowners assume with newer homes that all will work just fine but that's often

Mortgage Rates

U.S. averages as of April 30, 2010:

30 yr. fixed:   5.06%
15 yr. fixed:   4.39%
1 yr. adj:        4.25%
30 yr. jumbo:  6.98%

View current rates

not the case. "I inspected a brand new house four-years old but the electrical was all done incorrectly," says Walker.
Having a complete home inspection will help to rule out any problems and

CONTINUED >>>

Wondering What Your Home Is Worth?

Let me show you.

Green Your Home with Cost-Saving Remodeling
Tax Credits

     As the 40th anniversary of Earth Day was celebrated last month, the National Association of Home Builders (NAHB) reminds home owners that they can use fewer resources and save money by taking advantage of federal energy efficiency tax credits through the end of the year.
      Home owners who purchase qualifying water heaters, windows, air conditioning units and other appliances, insulation and roofing can be eligible for tax code section 25C tax credit, equivalent to 30 percent of the cost. There's a $1,500 overall limit for purchases made in 2009 and 2010.
      "You can save money, save energy, and be a good steward of the Earth's resources," said NAHB Remodelers Chair Donna Shirey, a remodeler in Issaquah, Wash. "I can't think of a more appropriate way to commemorate Earth CONTINUED >>>

Common Buyer Fears

     Whether you are a first time home buyer or someone who is looking to move up or down, getting into the market can be a fearful time.
      Here are some of the most common buyer fears:
      Do I have enough money to buy a home?
      To first step to finding out how much home you can truly afford is to get pre-qualified for a mortgage.
      Also, take a step back and look at your finances. Ideally, you should have around 20 percent of the purchase price to put down. You should also have less than a 36 percent debt to income ratio. Be sure to include all of your monthly obligations in that equation, including student loans, child support payments, alimony, car payments, credit cards, etc. Once you've looked at your savings, make sure that apart from your down payment, you'll have enough left over to pay closing costs, which include such things as attorney fees and transfer fees. The National Association of Realtors (NAR) reports that this amount averages between 2 and 7 percent of the home price. You also need to have money left as a cushion. What if unexpected 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.

Remodeling a Home Built Before 1978 Requires a Certified Lead Contractor

Getting the lead out of your home may be tough to do, according to the National Association of Home Builders (NAHB). We've known for a long while now that lead paint is hazardous to our health. Lead paint can be very dangerous to children if they inhale or ingest it. It can cause damage to their brains and nervous systems. However, removing it may be difficult.
The NAHB says that a shortage of Environmental Protection Agency (EPA) accredited trainers may stall some remodeling projects in homes where lead is present. A new regulation by the U.S. EPA went into effect last month (April

CONTINUED >>>

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.

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Lucky Lang, REALTOR®,SRES®
E-mail: Lucky6769031@gmail.com
Web: http://www.LuckyLang.com
(563) 676-9031

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

Equal Housing Opportunity

LUCKY LANG, QUAD-CITIES FAVORITE REALTOR^®

Lucky Lang, SRES®

Licensed in Iowa & Illinois

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

Cell: (563) 676-9031 Toll Free: (800) 791-8132 Ext. 2213

LuckyLang.com

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

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Comments(10)

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Paul Walker

Equity Fifty Five Realty, LLC - Scott AFB, IL

Scott AFB IL Area Realtor

Nice post. I have always admired that newletter!

May 26, 2010 05:41 AM

Matt Grohe

RE/MAX Concepts - Des Moines, IA

Serving the metro since 2003

Lucky: That's a pretty cool newsletter. Is that something your emailing out as well?

May 26, 2010 02:10 PM

Adam Malachi

A 2 Z Realty LLC - Castle Rock, CO

QSC,CDPE,CIPS,CNE,CRB,CRS,GRI,MRE,SFR

Great post! Excellent newsletter!

Thanks for sharing,

Adam

May 27, 2010 04:47 AM

Lori Cofer

Beasley Realty - Moscow, ID

REALTOR, Moscow Idaho Real Estate

Lucky,

What a unique market report. I absolutely love the newsletter feel to it.

Lori

May 29, 2010 01:21 PM

Premiere Plus Realty Marco Island - Marco Island, FL

Marco Island & Naples Florida Real Estate

Paul,

Thanks! I think that I've been doing these for four years now!

Lucky :)

May 29, 2010 10:54 PM

Matt,

Yes, we email them out monthly.

May 29, 2010 10:55 PM

Adam,

It is my pleasure!

Lori,

Yes, it really flows well!

Have a Memorable Memorial Weekend everyone!

Take Care!

May 29, 2010 10:57 PM

Pam Dent

Gayle Harvey Real Estate, Inc. - Charlottesville, VA

REALTOR® - Charlottesville Virginia Homes / Horse

Lluckky - This is a very nice news letter. Lots of good information.

Jun 09, 2010 04:18 PM

Pam,

Glad you enjoyed it!

Jun 20, 2010 10:59 PM

Davenport, Iowa: Market Report For May 2010!

Comments(10)

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