Okoboji Area Real Estate News

January 2007

Jan. 25, 2007 - OPEN HOUSE DRAWING

REGISTER AT ONE OR ALL OF OUR "16"
OPEN HOUSES THIS WINTER GAMES WEEKEND AND WIN!!"

A SNOW BLOWER from Bomgaars, a Fully installed REMOTER CAR STARTER from Great Lakes Sound & Speed, CAR DETAILS from Okoboji GM Toyota, OKOBOJI SWEATSHIRT BLANKETS from the The Three Sons in Milford, Sponsored in part by Northwest Federal Savings Bank of Spirit Lake, Okoboji, & Milford. Drawing will be at DOWDEN-HINN REALTORS office at 5 PM on Sunday January 28, 2007! Hope to you at our Open Houses! To view a complete list of Open Houses visit DOWDEN-HINN REALTORS

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Jan. 25, 2007 - Finger GYM Game Store

FINGER GYM - located at 914 10th St. in Milford (just down from Three Sons) is open 7 days a week. Video Game Store - Buy - Sell - Trade. Games in Stock for all of these systems PS3, Wii, XBox 360, PS2, XBox, Game Cube, DS, PSP. You can play any game on any system for only $4 an hour or .10 per minute. FREE Wi-Fi Internet Access. Hours 2 p.m. - 10 p.m. 7 Days a Week. 712.338.4118

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Jan. 23, 2007 - Who's spending all the money on Real Estate?

According to NAR, the number of sellers who were at least 45 years
old or older in 2006 was 54 percent. This is the same percentage as
for 2005. This means that Boomer activity has remained consistent.
Furthermore, the age at which people reach their peak spending is
46.5. The largest proportion of Boomers was born in 1960; 2006 was the
year this group should have hit its spending peak. This may partially
account for why the market has been so strong for the last seven years
as the bulk of the Boomers moved through their peak spending years.
The current statistics also demonstrate that the prime time to
purchase a second home is when the buyer is between the ages of 50 and
60. Currently, many Boomers are purchasing second homes in the Sunbelt
with the idea of trying out the lifestyle while they are still
working. When they retire, they will sell their big family home and
make their second home their primary residence.

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Jan. 11, 2007 - YEAR END MARKET STATS

YEAR END MARKET STATS - COMPARISON 2005 - 2006

Below are the year-end stats for properties within the Lakes Area MLS. Information is based on MLS stats 1/1/2005 thru 12/31/2006. You can see from the below numbers that all property values continue to increase and total sales remain strong. Days on market for sold properties remain relatively stable as well. If you'd like more detailed information or would like to discuss your opportunity for investments in and around the Iowa Great Lakes Region, please feel free to contact me directly.

PROPERTY ON MARKET AT YEAR-END

2005 - 230   2006 - 898
Highest Priced: 2005 - $779,000   2006 - $6,400,000
Avg. Asking Price: 2005 - $83,000 2006 - $194,778
Avg. Days on Market: 2005 - 693    2006 - 291

YEAR-END TOTAL SOLD

2005 - 837 2006 - 569
Highest Sold: 2005 - $1,425,000   2006 - $3,530,032
Avg. Price Sold: 2005 - $181,703   2006 - $235,627
Avg. Days on Market Sold: 2005 - 212   2006 - 219

WEST LAKE SOLD

2005 - 49 properties sold for a total of $30,867,265
Avg. West Lake Selling Price $629,944
2006 - 48 properties sold for a total of $31,491,300
Avg. West Lake Selling Price $656,068

EAST LAKE SOLD

2005 - 92 properties sold for a total of $30,569,764
Avg. East Lake Selling Price $332,280
2006 - 74 properties sold for a total of $31,245,060
Avg. East Lake Selling Price $422,230

BIG SPIRIT LAKE

2005 - 24 properties sold for a total of $6,949,900
Avg. Big Spirit Selling Price $289,579
2006 - 22 properties sold for a total of $8,719,400
Avg. Big Spirit Selling Price $396,336

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DAWN LEFEVRE Serving the Iowa Great Lakes Area. Here you will find various topics of discussion as well as a variety of information regarding the Iowa Great Lakes Area. Stop by often and please feel free to leave your comments.................... DOWDEN-HINN REALTORS Broker-Associate, e-Pro Certified Spirit Lake, IA 51360 800.373.1241 x49 Cell: 712.330.2221

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