You can still get a mortgage...

You can still get a mortgage... in fact in many cases you can still get nothing down or low down payment mortgages. There are great options for first time home buyers too. Your first step should be to contact a reputable mortgage lender or banker to see what your options are at this point. Many times people are scared they don't have good enough credit but with small changes your credit score can be improved.

I highly recommend Bailey Mortgage Company in Ames. You can apply online or call 515-598-5626 . Jason and Jayme Kupka will take great care of you - just tell them I told you to call!

Brandi Nelson, Realtor

Century 21 Signature Real Estate

306 S. 16th Street, Ames, Iowa

The Hill-Nelson Real Estate Team

www.hill-nelson.com

515-291-0914

Each office independently owned & operated.

Licensed Realtor in the state of Iowa

Check your protection

Every year you should be meeting with your insurance agent and checking to make sure the coverages in your home (owner/rental), vehicle, life, etc policies is still adequate. I also suggest that every 2-3 years you have another agency quote your policies - but make sure you are quoting apples to apples! This will ensure you aren't paying too much and you'll get a second opinion on what's enough but not too much insurance.

I highly suggest The Scott Richardson Agency in Ames. Scott is a State Farm Insurance representative and can help you with vechicle, homeowners, rental, health, life, liability insurances and retirement planning. Give his office a call today at 515-232-0030 and tell them I told you to call! Or look them up on the web at http://www.scottrichardsonagency.com/

Brandi Nelson, Realtor
Century 21 Signature Real Estate
The Hill-Nelson Real Estate Team
www.hill-nelson.com
515-291-0913

Licensed Realtor in the stste of Iowa
Each office independently owned & operated

My latest favorite blog...

My latest favorite blog is I will teach you to be rich at http://www.iwillteachyoutoberich.com/blog/announcing-the-save-1000-in-30-days-challenge

this guy has the right ideas and the best approach! Check it out.

Brandi Nelson, Realtor
Century 21 Signature Real Estate
The Hill-Nelson Real Estate Team
www.hill-nelson.com
515-291-0914

Licensed Realtor in Iowa
Each office independently owned & operated.

Home buyer tax credit

This is a great source for an explanation on the new 1st Time Homebuyer Tax Credit that the government recently enacted.

http://www.bankrate.com/baw/news/mtg/20080918-homebuyer-tax-credit-a1.asp

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

www.hill-nelson.com

515-291-0914

Each office independently owned & operated.

Licensed sales agent in the state of Iowa.

The cost of Indecision

If you are on the fence about buying a house right now, consider this... if you had bought a $200,000 house roughly 2 weeks ago your monthly principle and interest payment could have been around $1,167 per month but if you bought that same $200,000 house today... it would likely be $1,297 per month. That's $130 per month just because interest rates have gone up.

Now is a great time to buy. There are a lot of homes on the market to choose from and prices are competitive. Don't let indecision cost you even more.

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

www.hill-nelson.com

515-291-0914

Licensed Realtor in the state of Iowa

Each office independently owned and operated.

Pending Home Sales Rise

The National Association of Realtors reports that pending home sales are up sharply. Check out the full article below.

Daily Real Estate News October 8, 2008 Pending Home Sales Up Sharply
Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the NATIONAL ASSOCIATION OF REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Improved Affordability
Lawrence Yun, NAR chief economist, says home buyers were responding to improved affordability. “What we’re seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island, and the Washington, D.C., region,” he says.

“The improvement also reflects the drop in mortgage interest rates after the government takeover of Freddie Mac and Fannie Mae. It’s unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we’re hopeful most of the increase will translate into closed existing-home sales", adds Yun.

The PHSI in the West surged 18.4 percent to 109.5 in August and remains 37.8 percent above a year ago. In the Northeast the index jumped 8.4 percent to 79.8 and is 2.0 percent higher than August 2007. The index in the Midwest rose 3.6 percent to 84.5 in August and is 6.6 percent above a year ago. In the South, the index increased 2.3 percent to 96.0 but is 2.1 percent below August 2007.

Yun notes the unusual timing of contract activity in August. “Home buyers in July were hampered by overly stringent lending criteria in the months before the government takeover of Fannie and Freddie,” he said. “August shows some unleashing of pent-up demand before the credit crisis accelerated in September.”

He cautioned that the sampling size for pending home sales is smaller than the track on existing-home sales, so there is more volatility in the forward-looking series. “We need to see just how much of this gain holds up,” Yun adds.

NAR President Richard F. Gaylord says despite all the turmoil in world financial markets, home mortgages are available. “The recently enacted economic stimulus package should help housing by gradually freeing the flow of credit," he says.

Yun now expects growth in the U.S. gross domestic product (GDP) to contract for two consecutive quarters, in the fourth quarter of this year and the first quarter of 2009, before expanding in latter part of 2009 as the housing market begins a steady improvement.

Existing-home sales projected to rise next year
Looking at middle-ground assumptions, existing-home sales are forecast at 5.04 million this year and 5.41 million in 2009. Following national declines of 5 to 8 percent in 2008, home prices are projected to increase 2 to 3 percent next year.

New-home sales should total around 503,000 this year and 471,000 in 2009. Housing starts, including multifamily units, are likely to fall 28.2 percent to 973,000 units this year, and come in around 843,000 in 2009 as builders continue to clear the accumulation in inventory.

The 30-year fixed-rate mortgage will probably average 6.1 percent in the fourth quarter and rise gradually to 6.6 percent by the end of 2009. NAR’s housing affordability index is expected to average 18 percentage points higher this year than in 2007.

The unemployment rate is projected to average 6.4 percent in the fourth quarter and then average 6.6 percent in 2009. Inflation, as measured by the Consumer Price Index, is estimated at 4.0 percent for 2008 and 2.0 percent next year. Inflation-adjusted disposable personal income is forecast to grow 1.7 percent this year and 1.0 percent in 2009.— NAR

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

515-291-0914

www.hill-nelson.com

Each office independently owned & operated.

Licensed Realtor in the state of Iowa

Real Estate Confidence

This is a link to a brochure from Century 21 on having confidence in the real estate market. Its good stuff if you're not sure what to do in our current market.



http://www.21online.com/project.web/attachments/Consumer%20Confidence%20%20Brochure%20-%20Black%20Background.pdf

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

515-291-0914

www.hill-nelson.com

Each office independently owned & operated.

Licensed Realtor in the state of Iowa.

Good News!

Its a miracle and I didn't know if we'd ever see it again... gas below $3.00 per gallon. I filled my car today and it was $2.97 per gallon. That's almost a dollar cheaper than one month ago.

On average I fill my tank twice a week, its a 15 gallon tank, so I'm saving roughly $30 per week right now compared to last month. That's a lot when you look at it over a month or years time!

Its good news... be happy!

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

515-291-0914

www.hill-nelson.com

Each office independently owned & operated.

Licensed salesperson in the state of Iowa.

You fix you!

Yesterday I heard the best description of the economic bailout plan yet. I highly suggest and encourage you to use the link below and listen to the highlights from Monday's Dave Ramsey Show. Dave is definitely putting the ball back in our courts!

http://www.daveramsey.com/tdrs/index.cfm/2008/10/6/YOU-fix-you

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

515-291-0914

www.hill-nelson.com

Each office independently owned & operated.

Licensed salesperson in the state of Iowa

Sale! Sale! Sale!

The real estate industry is having a sale!

We don't know how long these prices and inventory will last, so act now!

Financing is available at very low rates, call for details!

First time home buyer incentives!

Incredible opportunities for investment &/or income!

Brandi Nelson, Realtor

The Hill-Nelson Real Estate Team

Century 21 Signature Real Estate

515-291-0914

www.hill-nelson.com

Each office independently owned & operated.

Licensed salesperson in the state of Iowa.

October is Century 21 Open House Month

Check out www.century21.com , or www.hill-nelson.com or www.openhouse.com to see all of the open houses available in October. My office, Century 21 Signature Real Estate has at least one house open every day in October!

Brandi Nelson, Realtor licensed in Iowa
Century 21 Signature Real Estate
Each office independently owned & operated
www.hill-nelson.com
515-291-0914 (cell)

4th Annual Hill-Nelson Golf Tournament

It's that time of year again! Time for the Hill-Nelson Real Estate Team's 4th annual Client Appreaciation Golf Tournament on Friday, September 12th at the Jewell Golf & Country Club.

We'll serve lunch at noon, the 4 person best shot tournament will start at 1:00 and we'll have appetizers around in the club house around 5pm. Even if you don't golf feel free to join us for lunch or after the tournament for appetizers and socializing!!


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

1st Time Home Buyer Tax Credit

Wow, have I been a bad blogger!! Sorry - I'll work on it. Here's a little article that explains the new 1st Time Home Buyer Tax Credit that's been all over the news... note it is a loan, not a true credit!

Daily Real Estate News August 4, 2008How the New First-Time Buyer Tax Credit Works
Under the new housing bill, home buyers who have not owned a home in the last three years will be eligible for a tax credit equal to 10 percent of the property up to a maximum of $7,500.Here’s how it works:
The credit is $3,750 for married couples filing separately. Unmarried people who jointly purchase a home will be able to divide the $7,500 credit.
This program is actually a loan, which home buyers must repay over 15 years at zero percent interest beginning in the second year after they purchase the home. A home buyer who qualified for the whole credit would pay $500 for 15 years or about $41.67 per month.
The credit applies only to homes purchased on or after April 9, 2008, and before July 1, 2009.
High-income home buyers don’t qualify: Eligibility begins phasing out for single filers with adjusted income of more than $75,000 and $150,000 for joint filers. It completely phases out at $95,000 for singles and $170,000 for married couples filing jointly.Source: The Washington Post, Michelle Singletary (07/03/08)


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Rates

Hey Everyone - I get a daily rate update from one of my lenders, Bailey Mortgage Company, and mortgage rates are going up!! If you or someone you know is thinking about buying or refinancing you should really, really look into it right now. Don't wait!

Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) http://www.hill-nelson.com/

Market Status

Per the Ames Multiple Listing Service as of July 13th, 2008...

599 active single family/townhomes
182 pending single family/townhomes
129 sold single family/townhomes since 6/13/2008

66 active acreages
9 pending acreage
4 sold acreages since 6/13/2008


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Disaster Assistance Loans

Disaster Assistance Loans
Homeowners, renters, businesses and private non-profit organizations may be eligible for disaster assistance loans for physical damage or economic injury. These loans are provided by the U.S. Small Business Administration (SBA). First, you must register with FEMA (800-621-3362). Then contact the SBA to request a loan application (800-659-2955) or visit the disaster recovery center set up in Nevada at the Story County Administration Building, 2nd Floor, 900 Sixth Street. For more information, visit www.sba.gov/services/disasterassistance.


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Market Status

Just a little update from the Ames Multiple Listing Service... as of 6/22/2008

508 active single family homes and 60 active acreages
191 sales pending of single family homes and 8 acreages pending

and from 5/1/2008 - 6/22/2008
158 single family homes sold
9 acreages sold


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

New website launched

Century 21 corporate has totally reworked the www.century21.com website. Check it out and let me know if you like it or not. Its definitely different - not sure if I'm sold on it yet or not!


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Century 21 on YouTube

Century 21 corporate ran a promotion this spring where agents could submit short videos of their individual listings on YouTube. This is a link to some of those YouTube clips - they are really, really good! http://www.youtube.com/century21 you can see that the winning entry won the owner of the home $21,000 and a HD tv. Enjoy!


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Buyer Beware

Buyers beware... interest rates are going up. Two weeks ago we saw rates under 6% and this week rates are around 6.5%.

If you are on the fence on whether you should buy now or later, keep this in mind... a $200,000 house at 6% fixed over 30 years would be a payment of $1,199.10 P&I, the same house at 7% interest would have a P&I payment of $1,330.60. That's a difference of $131.50 per month.

Another way to look at it is... if you want to keep your P&I payment around $1,200 each month you can afford a $200,000 house at 6% but only a $180,000 house at 7% interest.

Please don't wait. Interest rates are still very good and there are a lot of homes to choose from on the market right now.


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Lesson Learned

I've said it before, I'll say it again...and maybe this time I will listen to myself! If you have a sump pump, you should have a dual sump system or a battery backed-up system.

Then I urge everyone to check their home owner's insurance for septic/sewer/sump failure coverage. I was told that most insurance companies only add this coverage when asked. In most homes with basements, your most important mechanical items are down there... your furnace, water heater, washer/dryer, pressure tank, etc. Those items add up fast when your basement floods!


Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Rain, rain go away!

Well folks, its been raining here forever... or at least it seems that way. The rivers are all out of their banks, fields have huge ponds in them and yes, basements have water in them. Just remember if you are looking at homes right now its actually a good thing. You are most likely seeing the basement at its worst. If it doesn't have water now - it probably never will!!

Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com

Bad Blogger

Ok, Ok... I know I've been a bad blogger. But I'm creating this new blog spot and am committing to blogging at least twice a week. It will help tremendously if I get some feedback on blog topics... hint, hint!!

First lets start with some market information. The Ames area is still alive and well and my team has had a pretty good spring. According to the Ames Multiple Listing Service as of today, May 28th...101 residential listings have sold since 4/28/2008 and 324 since Jan. 1st. $157,162 is the average sales price for residences sold since 4/28/2008 and they averaged $147,361 since Jan. 1st. There are currently 711 active residential listings which average 133 days on market. There are currently 150 pending sales which average 105 days on market.

So really, its not as bad as they say on TV!!

Brandi Nelson - The Hill-Nelson Real Estate Team
Century 21 Signature Real Estate, Ames, Iowa
Each office independently owned & operated.
515-291-0914 (cell phone) www.hill-nelson.com