US Census – Dubuque Area Statistics

July 28, 2011

US Census Bureau recently released household statistics for Illinois, Iowa & Wisconsin.

4,836,972 Households in Illinois. 2,279,768 households in Wisconsin & 1,221,576 in Iowa

36,815 Households in Dubuque County. 2,877 Dubuque households featuring a female age 65 or older living alone (7.8 percent) Iowa's statewide average is 8.1. 2,160 Dubuque households headed by a single female with children. The county's rate of 5.9 percent mirrors Iowa's state average.

2.99 people – average family size.

June Home Sales Remain Steady

 

The Dubuque Board of REALTORS reports the number of home sales in June 2011 increased 12.25% percent over May 2011. According to the Dubuque Multiple Listings Service's (DMLS) 2011 Residential Housing Report, 125 homes were sold in the Tri-State Area in June 2011 up from 102 in May 2011. 159 Homes were sold in June 2010. Average are home prices decreased 2 percent in June 2011 ($148,705) over same time 2010 ($151,848).

 

"We have seen a steady increase in sales each month since the beginning of the year" says Dubuque Board of Realtors President Jeff Hefel. "Although sales lag behind those of 2010, we attribute that to an uncharacteristic spike in sales during the first two quarters of 2010 when area homeowners took advantage of the federal tax credit. Interest rates remain low & it continues to be a great time to buy a home."

 

Dubuque Multiple Listing Service's Residential Housing Report

 

        # of Sales        Avg Sale Price

May 2011    102            $173,895

June 2011    125            $148,705

June 2010    159            $151,848

 

The DMLS Residential Housing Report is compiled at the end of each month. Data is collected from local Dubuque Board of REALTORS offices that enter sales data into the DMLS. Reports are available to DMLS members with a login & password.

 

** This article was printed in the Dubuque Telegraph Herald Sunday, July 24, 2011.**

If I Sell My Home, Will I Have to Pay Capital Gains Tax?

The IRS permits a maximum exclusion on capital gain of $250,000 for individuals and $500,000 for married couples filing a joint return who sell their home, but of course some conditions apply.

For the five-year timeframe prior to the date of the sale of your primary residence, you must meet the Ownership and Use Tests the IRS provides in Publication 523, Selling Your Home. These rules ensure you have owned the home for at least two years, and lived in the home for at least 24 months out of the last five years. Additionally, you may not have excluded a gain on your taxes from the sale of a different home within the last two years. Note that if you sell your property for less than your original purchase price, you cannot claim a capital loss.

A 'reduced maximum exclusion' can apply to those who must sell their home due to a change in their place of employment, health issues, or unforeseen circumstances that affect qualified individuals. In all cases, it is best to consult your tax professional or IRS guidelines if you have any questions about the taxes you may be responsible for if you sell your home.

**Provided by Premier Bank – Dubuque IA

A little known gem only 15 minutes from Dubuque, Located in Galena

Just wanted to share with everyone a delightful place I had the pleasure of dining at this weekend. The Goldmoor Inn. The Goldmoor Inn, a Galena, Illinois bed and breakfast, and Aaron's Cottages and Cabins sit high atop the bluffs overlooking the majestic Mississippi River. They also have fine dining available to non-guests. It was very beautiful and I would recommend for a special occasion. The food, dining experience, service, and setting were all wonderful! For those that are not familiar with Dubuque. Galena is only a 15 minute drive from Dubuque and I found it to be a wonderful get away for the evening. http://www.goldmoor.com/index.htm

 

Planet Patrol: The Case of the Broken Loop - July 19, 2011

July 19, 2011

Multicultural Family Center, 1157 Central Ave. Family Environmental Program. Topic: importance of recycling and proper disposal. Dinner provided and registration is required. Free event. Free admission. For more information, visit Mfcdbq.org

Dubuque & Statewide Activity Report

Locally, the Iowa Association of REALTORS® (IAR) reports that the number of pending home sales was up 5.6% in May 2011 compared to pending sales in May 2010. However, the key issue for many sellers is that prices have not significantly appreciated and have held relatively steady over the last 5 years. The IAR report indicates that May home prices have increased only 0.8% over the last 5 years (due in part to nationwide economic issues) but over the last 10 years Iowa home prices have actually appreciated around 19.8%, in spite of the economic troubles of the last few years.

The fact that prices haven't significantly appreciated in recent years has caused reluctance among sellers to accept a lower price for a home. This has resulted in many homes on the market, meaning that buyers have lots of choices when looking for a home. Coupled with very low interest rates, now might be a good time to buy for anyone looking to live in an area for at least 3-5 years or longer

Selling a Home in Dubuque, IA Successfully Marketing Your Home Online

 

Selling a home in Dubuque, IA is always an important task that has a lot of risks and rewards involved with it.

 

With more than 89% of home buyers using the internet to do research and look at homes, the online marketing of homes for sale in Dubuque, IA is critical.

 

In this article we will look at the 3 most important factors in online marketing of real estate and how they can be used to better market your property and get more people to contact your agent and then physically see your home.

 

According to the National Association of Realtors 2010 Profile of Home Buyers and Sellers, the 3 most important features of a real estate website for buyers are:

 

1. Photos of your home
   
2. Detailed information of your home
   
3. A Virtual Tour of your home
   

The key to successfully marketing your home online is to get potential buyers off the computer and into your home is using proven strategies of online marketing that are so often missing in real estate!

 

The first goal is to get buyers to contact your agent about your home; the second goal is to get buyers to contact your agent period so that the agent can schedule a showing of your home with the buyer.

 

Marketing Your Home to attract buyers

 

1. Make sure that good pictures of your home are taken so that when buyers see your home online, that the pictures show your home to its' fullest potential. Tips for this include to make sure that there is good outside lighting and that interior lights are turned on, that everything is picked up so that there is no clutter in the kitchen, bathrooms, living room, etc. and that multiple pictures are taken of every room so that the best of each can be selected for the marketing of your home.
   

   
    

2. Be sure that all the details of your home are given to your Realtor and that they use this in their marketing. More and more, buyers want information and data, and making sure your Realtor and buyers have all the information and data for your home is critical.
   

 

1. Bring both the great photos and information about your home alive by having a virtual tour created that lets buyers get a sense of your home in a way that is impossible except to actually be there themselves.
   

A serious flaw that most Realtors make when creating a virtual tour is including music with it!

 

Many people look at homes while at work or while doing other things, and having unwanted music blasting over their computer while they are just trying to look at the photos and information of your home is a great  way to lose them immediately the one time they will see your home's photos and information! Do not risk getting the dreaded back button clicked or the internet browser closed all together during the best opportunity you have for showing off your home to potential buyers.

 

Get on the Buyers Short List….or at least get them to contact your agent!

 

Buyers will look at hundreds of homes online and it is impossible for them to see every one of them, even ones that might be exactly what they are looking for. By the time even a short number of homes have been viewed, it is easy for buyers to miss the fact that your home is one they should schedule a viewing with to see!

 

This is where using the principals of online marketing can help sell your home.

 

By offering buyers more information they likely want, your agent can get buyers to contact them and then schedule a showing with the buyer for your home. If the buyer never contacts your agent in the first place, then it is impossible for your agent to even attempt to schedule a showing of your property with potentially the perfect buyers!

 

This is why offers of other important information should always be made in the Virtual Tour and the other online marketing tools your Realtor uses.

 

Imagine a typical case of buyers looking at homes online in Dubuque, IA.

 

Having looked at 25 other homes for sale in Sarasota, FL, a buyer sees your home online, but is tired from seeing so many homes and quickly glances at a few pictures and almost instinctively clicks the 'next' button. Does this sound familiar?!

 

A way to get the buyer to stop and make contact with your agent is to make a number of offers for other information that will then allow your agent to schedule a showing of your property with the buyer.

 

Offers such as a list of homes for sale that meet their profile in Sarasota, FL, a free list of foreclosed homes for sale (buyers in all price points love deals and do not realize the issues with buying foreclosures and most quickly give up the notion and buy listed homes for resale), a home market analysis (most people selling are doing so to buy another!) and so on.

 

By combining good photos of your home with all the information about it and creating a virtual tour and then putting that virtual tour all over the internet via the MLS and other online marketing channels available to Realtors combined with additional offers prompting buyers to contact your agent, the process of selling your home can be made easier and faster than otherwise possible.

 

And since so few real estate professionals market homes this way, you will be at an advantage over all the other sellers currently in the market trying to sell their homes!