I have been working with one of my buyer couples for about a year, well 10 months really.  When they relocated to Cedar Rapids with Rockwell Collins last July, they decided that they would rent for a year first to get to know the area.  I showed them the available apartments and we kept in touch.  We started to look online at the end of January and then started to seriously look in the last 30 days.  As we were writing our first offer today, they stopped me at the end and asked me how they would pay me for all the time that I had spent with them.  Over the course of the time that I had spent with them, it had been 10 months since our initial buyer consultation.  They had forgotten that we had discussed that they do not pay to be represented, that the seller pays for me to represent the ... 05/02/2011

In creating a list of "honey-dos" for one of my sellers, I realized that there are probably a lot of sellers out there that could use this information as well.  When you are getting ready to put your home on the market, you are all about making your home SPARKLE!  How do I need to prepare for our first open house? 1.  Time for a deep cleaning!  *wipe down all the baseboards *clean or replace light switch plates *clean the windows inside and out, including the insides of the sills where the winter dirt has accumulated *clean the window treatments, window blinds, and ceiling fans  (no, they are not supposed to be furry!) *steam clean the carpets  (and furniture whenever possible) *use Febreze on furniture and other fabrics that cannot be steam cleaned *cleaning heating and cooling vents, ... 04/19/2011

This one must come up 1 of every 4 listing consultations that I perform in the Cedar Rapids area.  And I know that I am not alone, because if I search for the terms, "as is" in our local MLS, it comes up 103 times out of 2233 active listings, or about 5%, in our Cedar Rapids MLS.  Most of these "as is" properties are also estates, meaning that the owners have passed and the executor is in charge of selling the property.  But many are just sellers that don't want to make any repairs on their home.  Can I list my home as "as is"? The answer depends on why you are asking.  If you want to sell your home "as is" because you: are not able to afford to make the repairs on your own, or you can afford it, but you just don't want to put the money into a house that you are intending to sell, you n... 04/18/2011

After 12 years of helping buyers and sellers in Cedar Rapids here is what we have learned about the "cycle' of real estate in Cedar Rapids and the demand for homes during certain months... Jan-Feb.-Many new homes go on the market during these two months but not as many of course as in the spring months. By getting a jump on things a seller will run into less competition than in the spring. Many motivated buyers are out looking, especially first time home buyers. If you have a home priced under 150K this would be a good time to list it. Buyers be aware of over priced listings that sellers have had on the market since the fall. These sellers have low motivation to sell and are holding onto their price. March-June- This is the busiest time of the year for real estate transactions in the Ce... 04/11/2011

This is one of those questions where the answer really depends on WHO you ask!  The seller wants the value to be as low as possible...since this is the amount that their TAXES are based upon.  The buyer however, looks at this number differently.  So the question beomes: How Important is My Assessed Value?  In some areas, the assessed value used to be a good indicator of the market value of a property.  However, this is not always the case.  There are many homes in Cedar Rapids and Marion that are over-assessed.  Meaning that the homes in the area are selling for much LESS than the tax assessed value. If you are planning to sell your home, you need to make sure that the tax assessor site has the correct information about your home.  Many times, the assessor has incorrect information incl... 04/07/2011

This question comes up when I am interviewing with both for sale by owners and new listings.  This is one huge advantage of listing with a brokerage and agent.  The buyers that see your home are represented by a buyer's agent that has hopefully qualified them with a lender prior to showing them your home.   How do I know that the buyers that see my home are qualified?  The short answer is that you don't...until they make an offer. You cannot possibly know if a buyer that takes interest in your home at an open house is qualified to buy.  There are many reasons that buyers go through open houses.  They may be looking at all the homes in the area to get an idea of floor plans, they may be looking for an experienced agent to represent them, or they may be moving to the area and don't know a... 04/07/2011

In Cedar Rapids, the average home price is about $175,000 so in most cases, homes that are above the price will have their fair amount of buyers that must sell, and receive the proceeds from that sale, in order to purchase another home.  What is a subject to sale contingency?  This is when the buyer currently owns a home that they must receive the proceeds from in order to purchase your home. First, there are two types of subject to sale contingencies. 1.  The buyer's current home is on the market and has received an offer from a qualified buyer.  In the purchase contract on your home, the buyers' agent will give us the information about when the inspections and other contingencies are expected to be released as well as the expected closing date and proceeds of that home. In situations ... 04/06/2011

Everyone has their preferences...sometimes it can perceived by others as being a snob.  I will be the first to admit that I am an ice cream snob.  I prefer Coldstone Creamery and even though it is sooo much more expensive for one serving than an entire half gallon at the grocery store, my exasperated boyfriend knows that he cannot change my opinion. Whether we are choosing a pair of shoes, a color of lipstick or a belt that matches our shoes, we are all choosy about something.  So why wouldn't you be this way about the largest investment you ever make?  Life is all about choices.  So whether you agonize over all the details in every decision or you make what seem to be snap decisions, it is up to you to determine what is best for you and your family. My buyers all have different types o... 04/04/2011

Buying a home in Cedar Rapids? You won't have to worry about us doing this.... Today we met a buyer at one of our listings and asked if he had seen any other homes yet? "Yes." he said. We then asked if he was working with a Realtor, as he said on the phone that he wasn't. He said that he had not met a Realtor that he felt comfortable with as his last one kept wanting to show homes that were $10k higher than his price range. We hear this a lot. Our promise is to only show you homes in your desired price range...period. If you decide to move up,let us know. This is the number one complaint amongst buyers that we hear. (By the way, we are showing our new buyer more homes tomorrow.) Another reason to call the Wolter Team! Our business is up because our clients tell others! www.GaryWolter.com 03/31/2011

The cause of many a seller's worries....that first showing.  Will it happen in the first few days?  Or will a week go by and they will start to think that it was a big mistake to put their home on the market? After all, it is like putting yourself on the dating website...the prettiest homes that are priced right are the first ones picked right?  Once the listing agreement is signed, it is difficult for sellers to get their home show ready as they leave every morning, only to come home to no business cards on the kitchen table.   So what can we do to ease that tension a little for the seller?  Simple...I think that we can do a little pre-marketing to get buyers and their agents interested!  Holding a neighborhood open house where the sellers can invite all their friends and neighbors to ... 03/29/2011

Currently in the Cedar Rapids area MLS, we have 1001 single family homes on the market. (3/29/11) Of these, 326 are priced between 99-150K. We have 345 sale pending homes currently in the area. During the last 12 month it currently takes 74 days for the seller to accept on aveage 97% of the asking price. Gary & Melynda Wolter of Skogman Realty have averaged selling their listings in 40 days and for 98% of the asking price. For the maximum internet exposure for your listing, please visit www.GaryWolter.com See all the listings with aerial photos! 03/29/2011

Another letter of referral from one of our clients: Dear Gary & Melynda, Thank you for the fast and efficient manner in which you sold my parents home. Living in Virginia and having complete responsibility for them, as well as for all their affairs has been an incredible challenge. You took a small house that was a disaster, helped me find someone to clear/clean and winterize it, recommended a home inspector and managed the behavior of intrusive neighbors. I will always be amazed at the 4 day turnaround before you found a cash buyer! This despite a market that can be daunting. Thanks for everything! I wish you the very best in your future endeavors. If you ever need a personal reference you have them call me! Sincerely, Mary Page-Edwards   03/29/2011

We decided to look through the last year of listings that we have taken and discovered an interesting fact: When the seller was adamant about trying a price higher than recommended by us, the house NEVER SOLD at that price. That's right 100% of the time the sellers price NEVER got an offer! In fact, one  house that we sold for $150,000 never got an offer when listed for $158,000. But as soon as we adjusted the price to $155,000 which was what we originally recommened, the offer came but until after 120 days on the market wasted!!! This is how precise the market is and how critical it is to price your house correctly, which should be below market value..even if its by a dollar. Its very difficult to debate facts. Be sure if you call us to list your house, we will share these facts with y... 03/25/2011

In this world of social networking, you would think that all exposure is good exposure right?  Not so fast!  I will add photos and links to your home on my Facebook business page.  And I will update that page for open houses and price reductions.  It does not hurt to let your friends and family know that you are selling your home.  I will even send you a link that you can post on your page! But don't let Facebook cost you a buyer! I have seen the following happen firsthand: You post on your wall that you are putting your home on the market.  And inevitably, a friend or family member will ask you where you are going, when you need to be there, etc.  This is giving away valuable information about your motivation.  Especially if you post that you have offered on a new home somewhere else! ... 03/22/2011

Let's just say that today has not been a good day.  Too many surprise fixes on a house that is trying to close this week...unreasonable sellers that won't listen to the market...and of course the gloomy rainy, sleeting day that makes Spring not LOOK LIKE Spring at all! I am working at the model home today for Skogman Homes and a couple came in with their grown grandson.  I was on the phone when they came in, so I just waved and then caught up with them a few minutes later.  They told me that they had visited over the weekend and wanted to show their grandson as well.  They could not remember the name of the agent that had assisted them, but that is okay.  I am sure that they will find her card and call and let her know that they stopped back in today.  In fact, I introduced myself, but ... 03/22/2011

I think that my negotiating skills are my most powerful tool.  Negotiating to protect your bottom line is just as important to me as protecting my own!  Remember when you asked me to cut my commission at the listing consultation and I told you no?  Well, sometimes buyers need to be told no, and I will work very hard to make sure that you get the best terms and price for your home.  I obtained the CNE-Certified Negotiation Expert designation a few years ago and I think that it was one of the best courses to help me to excel in my business. Today's market is one that is still considered a buyer's market.  I am sure that you have heard this....and if you are moving up to a larger home, this will work to your advantage.  With so much inventory, buyers have a lot of choice and selection.  Wh... 03/21/2011

The accidental showing tends to happen for a couple of reasons in our market.  Sometimes the agent is not paying attention...sometimes the buyer's agent assumes that when the showing instructions state to call listing agent to confirm, that it must be vacant and the listing agent is a control freak...  In this case, there are 3 condos for sale in the same building, two with my brokerage and one with another.  Since it is a secure building with a code to get inside the entryway, the lockboxes are located inside with the units....well, maybe.  The lockbox for MY unit for sale is inside NEXT to the doorway of the condo for sale.  The lockbox for the unit across the hall was on the front railing at the entrance....unmarked of course. So, when I had an unexpected email from the Suprakey tell... 03/21/2011

Every buyer and seller have a perception of what "fair market value" is...to THEM!  It is usually not the same value, of course.  I was sitting in a training class this week and I started to think about how the current market has changed what fair market value means to me and how it is best explained to my current clients.  This is what I came up with: FAIR MARKET VALUE IS: 1.  What an able and willing buyer will PAY 2.   What a motivated seller will ACCEPT 3.   What an appraiser can PROVE  Simple enough, right?  Of course the most important is what the appraiser tells the lender.  There is too much squawking about how much more difficult it has become to get through the appraisal process.  Take a look in the mirror...it is all about managing expectations. As real estate professionals, ... 03/15/2011

First the facts: Mortgage rates are going up and compeition is increasing.  I wish I had a dollar for every time I've heard a potential buyer tell me how much they would love to take advantage of the low price on their DREAM HOME but they don't want to give their home away.  They say that if they wait awhile, the price of their current home will come up and then they will make more on their house!  This works well if you live in a bubble and the rest of the world will allow their house to increase value while the rest of property values remain at today's level.  I understand the hope but get lost in the reality. If you look at the realities of today's market, homeowners that desire to move up should cease the moment. Here's why; assume you own a home that has lost 10% of its value and i... 03/10/2011

I love working with relocation buyers.  They come here bright eyed and bushy tailed, sometimes prepared with spreadsheets or notes, other times completing trusting me to show them the houses that I think will best suit them.  It is interesting getting to know these buyers over a series of emails, phone calls and then ultimately the housefinding trips. One buyer in particular last week caught me off guard during our showings.  With her friend in the car, she remarked that I often would "talk them out of" the more expensive properties on their list.  When her friend asked what she meant, she proceeded to say "Karen is a very different kind of agent.  It is obvious that it is not about the money that she will make.  She wants us to happy wherever we buy AND she wants us to be secure in the... 03/08/2011