We all read and hear the National news regarding the Economic downturn and housing slump. In North Iowa we are not totally isolated from that,but our housing slump is mostly due to buyers hearing the doom and gloom and not understanding that North Iowa is really quite stable. Buyers fear what they don't understand, so they tend to sit tight and not do anything. We are lucky to live in a more stable economic area, that did not experience the drastic housing market declines that the coastal markets, Arizona, Nevada, Michigan, Colorado and some other areas did, so we're not seeing a big housing market correction. We also have a very diversified job market. We also find our local lenders with more conservative lending practices that did not provide the high risk loans that several lending institutions did.
The local Mason City Board of Realtors sales report for September 2009 reflects 26 Mason City single family homes sold at a median sales price of $105,000 vs. September 2008 reporting 38 homes sold at a median sales price of 89,750. It is also reported the average home sold was on the market 166 days and sold within 95.60% of asking price.
Low interest rates and a new stimulus package for First Time Homebuyers, giving up to $8,000 tax credit if they purchase of home and close on it before December 1, 2009 has encouraged buyers to make a move now.
Mortgage Interest rates are very low allowing buyers to buy more house for their money. If your needs have changed its an excellent time to make your move!.
If you are getting your home ready to sell, remember that first impressions are very important. Keeping a clean driveway and sidewalks free of leaves and lawn mowed will cause a driveby prospect to have more interest. Also, clean clutter free rooms will help sell your home much quicker! If you have older furnace & Central Air units consider replacing them with high energy efficient ones. Buyers are very energy conscious today and inquire often of the age of the heating & cooling units. On the day of a showing you may want to have a plate of fresh baked cookies or have something cooking in the crock pot for dinner. These add an "at home" feel and pleasing aroma throughout the home. These tips will help get your home sold faster and usually at a higher price!
Again, it's a remarkable time to buy!!!
ZIP Code: 50401-50402 Approximate Location Boundaries: Located East of I-35 between Des Moines, IA & Minneapolis, MN
Location Characteristics: Mason City is the boyhood home of Meredith Wilson, from the Msical " Music Man". Visit the recently built Music Man Square. Mason City is also home to the North Iowa Fairgrounds, and a continuous growth of new construction in both the Residential and Commercial sectors. The leadership in this community is dedicated to implementing ideas to make Mason City a nice place to live and work. This community is also home to one of the top 100 hospitals in the nation. Come look and experience the beautiful parks, movie theatres, restaurants, and other things to see and do in Mason City.
