Though I wish I had time enough to post highly entertaining and educating blog posts on River Banks to Corn Fields on a dialy basis, I find there are plenty of other good bloggers with posts that I think Dubuque real estate interested readers will find value in.  Though not sure this will be a regular feature of this blog, here’s a summary of some of the best blog posts I found in the last few days.

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First up is a mortgage financing column by Terry Savage, nationally known author and expert on personal finance as well as a regular television commentator on CNN, CNBC, PBS, and NBC on issues related to investing and financial markets.

Mortgage Rates At 5 Percent or Lower, But Be Careful Refinancing

In the midst of all the bad news about mortgages and home foreclosures, there is really some very good news for qualified borrowers. If you’re purchasing a new home, or if you’ve decided to refinance, you can now lock in some enticing low rates, thanks to the Federal Reserve’s determination to bring mortgage rates down and get the economy growing.

According to Bankrate.com, the national average for a 30-year, fixed-rate mortgage has fallen to 5.06 percent.

Read Full Article Here…

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Next up is Tim Parker from Elementary Finance in an article that describes the great combination of the $8,000 credit for first-time homebuyers and the “cheap property market”.  While I wouldn’t characterize the Dubuque market as being cheap, at least in pricing terms compared to recent years, our lower than national average housing prices do certainly apply.

First Time Home Buyer Credit, Cheap Property Market: Time To Buy A House!

Here’s a tip for first time home buyers entering this property market: when you consider the advantages of an $8,000 tax credit and a cheap real estate market, 2009 looks like a great time to buy a house!

We had a lot of wind yesterday. I looked outside this morning and found a yard full of sticks from the trees, leaves from my neighbor, and I’m noticing that it’s about time to paint the exterior of our home, one of my least favorite jobs. Owning a home can take a lot of time and expense but for many, its drawbacks are far more complicated than sticks, leaves, and paint. It’s economic.

Since the beginning of the recession in late 2007, credit has become more difficult to find and because of that, prospective buyers are finding it much harder to save up for a home.

 Read Full Article Here…

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Last up is part of a Home Seller Series by Charles Woodall of Century 21 Key City in Dothan, Alabama.  Here he talks about three basic types of home buyers that you will likely encounter as a seller and how to strategize for each one.

Home Sellers Series – 3 types of home buyers you need to know about

While I’m not inclined to put people, in this case home buyers, into definite, immovable categories, it is important in our business to look at these things and try to help our seller clients determine how to use the information to their advantage. Sellers need to not only know how we attract buyers (marketing plan), but also what appeals to different types of buyers. I saw a presentation this past week that put all home buyers into one of these three categories, so I thought I would talk a little about each of them.

Read Full Article Here…

Since I was toying around on MSNBC’s site, I also found this completely unrelated video about how getting enough sleep will help you lose weight. I, like a lot of folks, could stand to take off a few, and if getting more sleep is the key, cound me in!  I’ll be sleepy-sleep time by 8:30 tonight!

Now that the dust is settling on the announcement of IBM’s project in Dubuque (see previous posts here, here, here, & here), I thought I’d write a follow up about the impacts I’m already seeing.  I’ve noticed decided changes in behavior by both our buyers & sellers in just the last week and a half. 

Buyers who have been already in the market for some time, or those thinking about jumping in, are stepping a little faster these days.  They see the incoming IBM workers, managers, and executives as a reason to hurry up and make a purchase decision, especially with still-historically-low interest rates available. 

Private showings and open houses are definitely seeing more traffic.  In fact, one of my open houses on Sunday at 2791 Oak Crest saw a headcount of approximately 25 visitors in an hour and a half.  Our other open at 9043 Olde Davenport Road saw more visitors than in either of the previous open houses despite the day’s temperature hovering just above zero degrees.

For our sellers, I’m also seeing changes in behavior.  Creating up to 1,300 now positions in a community will clearly impact the local housing market.  Knowing these workers will be here in the upcoming months is changing sellers attitudes about their prospects for sale.  Some Dubuque homebuilders have actually raised their listing prices on their spec (speculative) listings. 

As a personal note, I was involved in a number of negotiations last week that demonstrated our sellers’ new resolve.  In each case, the sellers were not as accommodating in negotiations as they had been even a few weeks ago (pre-IBM).  That’s not to say sellers are demanding full list prices, but buyers should be aware that counter-offers will not be as generous as they have been in the last year or more.

Over the last year, MLS stats show that, on average, the greater Dubuque market gives up in negotiation 3.3% off the current listing price.  In real terms, a home listed for $200,000, based on Dubuque averages, would expect to sell for approximately $193,400.  Going forward, I expect that 3.3% figure to shrink as demand for housing strains the current available supply.

As with any post, your comments and questions are encouraged…