Jun. 29, 2006 - Fresh Bistro

Jun. 26, 2006 - Virtual Home Inspection

Jun. 22, 2006 - Market Trends 6/22/06

mailto:MarketTrends@DawnLefevre.com

MARKET TRENDS 6/22/06

CURRENTLY ON THE MARKET

• 961 total properties
• Highest price $3,995,000
• Average price $203,436
• Average days on market 229

YEAR-TO-DATE SOLD

• 258 total properties
• Highest price $1,365,000
• Average price $231,697
• Average days on market 232

WEST LAKE SOLD (YEAR-TO-DATE)*

• 23 properties sold for a total of $13,700,200
• Average West Lake selling price $595,660

EAST LAKE SOLD (YEAR-TO-DATE)*

• 37 properties sold for a total of $13,817,509
• Average East Lake selling price $373,446

BIG SPIRIT LAKE (YEAR-TO-DATE)*

• 8 properties sold for a total of $2,919,900
• Average Big Spirit selling price $364,987

*Lake sales figures include condo sales & properties on

Leased Land.

(Figures based on MLS statistics on above date.)

Jun. 19, 2006 - Bike Trail

Jun. 13, 2006 - Minerva's

Jun. 8, 2006 - MARKET TRENDS 06/08/06

Here is where you will find current information on recent sales in the Iowa Great Lakes Area.  I will update this information several times per month so be sure to stop back often.  If you'd like more detailed information on specific properties or would like to know the current estimated market value of your property, please email me directly at:

mailto:MarketTrends@DawnLefevre.com

MARKET TRENDS 6/08/06

CURRENTLY ON THE MARKET

• 970 total properties
• Highest price $3,995,000
• Average price $201,693
• Average days on market 222

YEAR-TO-DATE SOLD

• 234 total properties
• Highest price $1,365,000
• Average price $168,000
• Average days on market 239

WEST LAKE SOLD (YEAR-TO-DATE)*

• 23 properties sold for a total of $13,700,200
• Average West Lake selling price $585,000

EAST LAKE SOLD (YEAR-TO-DATE)*

• 30 properties sold for a total of $11,161,182
• Average East Lake selling price $340,000

BIG SPIRIT LAKE (YEAR-TO-DATE)*

• 8 properties sold for a total of $2,919,900
• Average Big Spirit selling price $420,000

*Lake sales figures include condo sales & properties on

Leased Land.

(Figures based on MLS statistics on above date.)

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Jun. 2, 2006 - Building Trends

• One-fourth of new homes have at least three bathrooms.
• Ceilings are at least 9 to 10 feet on the first floor and upscale houses have a standard ceiling height of 10 to 12 feet on the first floor and 9 feet on the second floor.
• Front doors are single and wider.
• The living room in homes with less than 3,000 square feet are being replaced by a room known as a den, parlor, retreat, library or music room. In homes larger than 3,000 square feet, living rooms are remaining.
• Stairs are moving from the front of the house to the middle or the rear.
• Master baths have shower stalls and a compartmentalized toilet. Mid-to-upscale homes have multiple shower heads and a tub. Upscale homes will continue to have whirlpool tubs even though nobody ever actually uses them.
• Yards are shrinking. The American yard is expected to decline to 7,000 square feet from today’s 9,000 square feet in the next few years.

Jun. 2, 2006 - Before Buying a Condo

To view my complete online newsletter please visit

http://Dlefevre.realtownblogs.com

Ten Questions to Ask Your Condo Board

Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive—and organized—its members are.

1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.

2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can’t rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.

3. How much does the association keep in reserve? How is that money being invested?

4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs. To determine if the assessment is reasonable, compare the rate to others in the area.

5. What does and doesn’t the assessment cover—common area maintenance, recreational facilities, trash collection, snow removal?

6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board’s fiscal policy.

7. How much turnover occurs in the building?

8. Is the project in litigation? If the builders or homeowners are involved in a lawsuit, reserves can be depleted quickly.

9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer’s report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren’t in good repair, they become your problem once you buy.

10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you’re buying, may require separate assessments.