Assistance is available to those suffering from recent flooding or other disasters. Click the link below for more information about available programs from the Iowa Department of Human Services.

http://www.dhs.state.ia.us/Consumers/Assistance_Programs/CashAssistance/DisasterAssistance/StormHelp.html

Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010.

The extension applies only to transactions that had signed contracts in place as of April 30, 2010, and have not yet closed.  There will be no gap between June 30 and the date the President signs the bill into law.  

Additionally, Congress has extended the National Flood Insurance Program (NFIP) through September 30th.  The bill is retroactive and will cover the lapse period from June 1, 2010, to the date the law is enacted.

As we find ourselves in the midst of severe weather season here in Iowa, it’s a good time for homeowners to develop and /or review their emergency plans with their families. It’s important to involve all members of the family in the discussion and development of your family’s emergency plan. Adjust your plan as needed for the various natural disasters that have potential to strike in your area – including fire, tornado, flood, thunderstorm, winter storm, etc.
 
Following are some items you may want to discuss and include in your plan.
 
Escape Route. Discuss various escape routes from each room in your home. Make sure children understand at least two ways to get out of each room, especially their bedrooms. For example – route 1 is out the bedroom door, down the hall, out the front door; route 2 is out the window.

Meeting Place. Set a place to meet in the event of an emergency. Locations will vary based on the type of emergency. For example, in the event of a fire we will meet by the tree in the front yard. If there’s a tornado, we will meet at the bottom of the stairs in the basement. You may also want to set one place near your home (by the tree in the front yard), as well as another place farther away, if needed (at the basketball hoop outside the neighbor’s house).

Family Communications. Your family may not all be together when a disaster strikes. Discuss how you will communicate with each other if you’re apart, and how/when you will get together in one location if possible. Remind children that if they are not with you, that the trusted adult they are with will help keep them safe until you can be together.

Practice Drills. Teach all family members how to shut off utilities, including natural gas, and electricity, which may start fires following natural disasters, as well as the water. Teach everyone where the fire extinguisher is located and how to use it. Make sure everyone knows how to call 911 for help if needed.

Create a Disaster Supplies Kit. You will want to collect and store in your home enough food, water, and supplies for your entire family for at least three days. Stock the following items to be prepared: 1/ water - at least one gallon of water per person per day; 2/ food - non perishable items that don’t require refrigeration; 3/ first aid supplies including bandages, gauze, adhesive tape, and antiseptic; 4/ clothing, bedding, and sanitation supplies; 5/ tools such as a manual operated can-opener, battery powered radio and flashlight, and matches in a waterproof container; and 6/ special items such as medications, contacts/glasses, and important family documents. Keep all of these items together in a “kit” which you can carry with you if needed. A covered garbage basket or large backpack works well.

Community Evacuation. Local officials typically provide community evacuation information to the public through the media or sirens. It is a good idea to have a full tank of gas in your car if community evacuation seems like a real possibility. Also, have some cash and change on hand if possible. If you must leave your home, wear sturdy clothes and shoes, grab your disaster supplies kit, and close your windows and lock your home.
 
The best way to stay safe in severe weather season and in the event of natural disasters is to be prepared. Talk to your family about the natural disasters that are possible in your area, and discuss your emergency plan - so you can all be prepared and stay safe!
 
Sources: http://www.fema.gov/plan/index.shtm
http://moneypit.com/article/disaster-preparedness-homeowners
Iowa Association of REALTORS®

CLIVE, IOWA (June 16, 2010) – Home sales were up again while prices held steady in May, according to the Iowa Association of REALTORS® (IAR).

The IAR’s 2010 May Housing Trends Report shows the total number of homes sold in May was up 20.8 percent from May of last year, and up 4.9 percent from April. A total of 3,460 homes were sold in May 2010, while just 2,865 homes sold in May 2009 and 3,297 homes sold in April 2010.

Click here to read the full press report.

CLIVE, IOWA (May 24, 2010) – Home sales and prices in Iowa were up in April, according to the latest report from the Iowa Association of REALTORS® (IAR).

The IAR’s 2010 April Housing Trends Report shows the total number of homes sold in April was up 36.3 percent from March and up 32.4 percent from last April. A total of 3,170 homes were sold in April 2010, while just 2,394 homes sold in April 2009 and 2,325 homes sold in March 2010.

Click here to read the full press report.

HOUSING MARKET: High inventory, many homes on the market
According to the Iowa Association of REALTORS®, inventory is high right now, so there are many homes from which to choose. There were 7,014 new active listings recorded across the state in March 2010, making it the strongest March in the last three years by far.

Home sales in March were up 53.2 percent from February, and up 10.6 percent from last March. Average sales price didn’t show as much change. Prices in March 2010 were up .1% from Feb. 2010, and down 1.9 percent from March 2009.
 
For more detailed information visit http://www.iowarealtors.com/news/docs/press_releases/housing_trends/201003.pdf

Source: Iowa Association of REALTORS®

April is Fair Housing Month, a time to recognize and celebrate the landmark Fair Housing Act, which was created in 1968 and amended in 1988. April 2010 is the 42nd anniversary of the Fair Housing Act, which declared a national policy of fair housing throughout the United States. The law prohibits housing discrimination on the basis of race, color, religion, sex, disability, familial status, and national origin. Discrimination is prohibited in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status or national origin.
 
As Americans we all have the right to life, liberty, and the pursuit of happiness. For many of us, owning a home becomes part of our pursuit, as it often represents security, success, and hopes and dreams for the future. We are all able to pursue our home owning dreams freely, fairly, and without discrimination, thanks in part to the Civil Rights Act of 1866 and the Fair Housing Act of 1968.

Sources: National Association of REALTORS®, Iowa Association of REALTORS®

As part of its plan to stimulate the U.S. housing market, Congress has passed new legislation that:

• Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until Apr. 30, 2010.
• Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Following is more information about how the Extended Home Buyer Tax Credit:

Who Qualifies for the Extended Credit?
First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?
Each home buyer’s tax credit is determined by two additional factors: the price of the home and the buyer’s income.

Price:
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income:
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit. These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers, and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Source: http://www.realtor.org

Several reports have been received by local Iowa law enforcement officials and staff at the Iowa Association of REALTORS® regarding fake property listings on the site Craigslist.com.

These listings often appear with actual property photos and valid property information; however, the advertised purchase or rental price of the property is usually incorrect and often the falsifield listing indicates that a propective purchaser or lessee should send a deposit check to a person in a foreign country.

The Iowa Property Owners Alliance urges consumers to use caution during online property transactions.

Here are several articles related to this issue:

http://www.nj.com/independentpress/index.ssf/2009/10/craigslist_scam_lists_fraudule.html

http://www.kiiitv.com/news/local/63609477.html

For local real estate information, please see our Resources page.

DES MOINES, Iowa - August 21, 2009 - Residents in Iowa looking to purchase a new home may be surprised to learn that the only no-down-payment programs still available are offered through the United States Department of Agriculture (USDA).

"Last year USDA Rural Development provided Iowans with $128 million in guaranteed and direct loans to help 1,600 families living in rural communities become homeowners, many of whom now own their first home," said Bill Menner, USDA Rural Development State Director in Iowa.

USDA Rural Development has up to $300 million available in two low-interest, no-down-payment loan programs to help eligible families living in rural communities and areas purchase new homes. Loans and some grants are also available to help families make needed repairs to their homes as well.

Eligible homes must be located in a community of 20,000 persons or less. The home can be existing or new construction. Existing homes must be structurally sound. Also, the property cannot have any income-producing outbuildings.

In most cases a family of four with an adjusted annual income of up to $73,600 may qualify for the agency's guaranteed home loan program. If that same family of four's adjusted annual income is less than $50,800 they may also qualify for a direct loan from the agency. These income limits increase in communities located near metro areas.

USDA Rural Development's guarantee loan program is administered by a local lender who takes the application, processes it and determines the acceptability of the home to be financed. Under the direct loan program an applicant may be eligible for payment assistance, which would subsidize the interest portion of the house payment down to as low as 1 percent, lowering the overall monthly payment.

"USDA Rural Development expects to provide as many as 3,000 Iowa families with mortgage loans this year thanks to additional funding through the American Recovery and Reinvestment and special disaster assistance as a result of last year's flooding and extreme storms throughout Iowa," Menner said. "We have plenty of funds available this year, so please give us a call today to learn more."

USDA Rural Development is an equal opportunity lender with a variety of direct and guaranteed rural credit programs involving single and multi-family housing, community facilities, water and sewer development and business and industry programs.

Along with home mortgage loans, special funds are available from USDA Rural Development to assist with improvements to community facility and infrastructure projects such health clinics, community centers, public safety buildings and water and wastewater systems, as well as businesses and economic organizations looking to create jobs in rural communities.

Contact USDA Rural Development
Further information on programs available through USDA Rural Development is available by calling (515) 284-4663 or by visiting the agency's web site at www.rurdev.usda.gov/ia.

USDA Rural Development has 11 offices across the state to serve the 1.9 million Iowans living in rural communities. Office locations include a State Office in Des Moines, along with Area Offices in Albia, Atlantic, Humboldt, Indianola, Iowa Falls, Le Mars, Mount Pleasant, Storm Lake, Tipton and Waverly.