Coralville, IA Real Estate News

By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Coralville IA Homes: Weekly market update October 11, 2010. Homes sold, homes under contract and active listings.   220 Active Listings15 Homes Under Contract0 Home Sold week ending October 9, 2010 This is a snapshot of what's going on in the Coralville IA real estate market at the moment. As you can see, we had a very quiet week last week. The big question is - Why are buyers are still sitting on the fence? Interest rates are still incredibly low at 4.25% for a 30 year fixed rate loan. As I talked about in a recent post, the low interest rate is as much as if not a bigger incentive than the tax credit. Free money is gone before you know it, a low interest rate means you save every month for the life of the loan. Are you ready to buy a home in Coralville? Do you have a real estate relat...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Coralville IA Real Estate Market Report 3rd Quarter / July - September  2010 compared to July - September 2009 72 homes sold in the 3rd quarter 2010 compared to 101 homes sold in the 3rd quarter 2009. That's a decrease of 29% over the same time period last year. Home sales were up by 37% in the 2nd quarter, a pretty good indication that the home buyer tax credit pulled sales forward. The surprising thing is that with the really low interest rate, (4.25% at the time of writing this), plus some great deals on homes we aren't seeing more activity in the Coralville real estate market. Average Price Homes Sold 3rd Qtr 2010: $231,681 Highest Price Home Sold: $765,000 Lowest Price Home Sold: $  52,000 Highest number of days on market: 345 daysLowest number of days on market: 5 days Average Pri...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Coralville IA Real Estate Market Report September 2010: Number of homes sold, average price and days on market 19 homes sold in Coralville in September 2010 compared to 12 homes sold in September 2009. Coralville did better than both Iowa City and North Liberty in September for the number of homes sold. It's way too early to call this a trend, but it will definitely be worth watching in the coming months to see how this develops. Average Price Homes Sold September 2010 $237,252 Highest Price Home Sold: $635,000 Lowest Price Home Sold: $ 53,000 Highest number of days on market: 197 daysLowest number of days on market: 5 days Average Price Homes Sold September 2010 $206,766 Highest Price Home Sold: $785,000 Lowest Price Home Sold: $ 63,000 Highest number of days on market: 195 daysLowest ...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
217 Active Listings 13 Homes Under Contract 5 Homes Sold week ending September 18, 2010 Average Price Homes Sold w/e Sept 18, 2010 $128,700 Highest Price Home Sold: $205,000 Lowest Price Home Sold: $ 53,500 This is a snapshot of what's going on in the Coralville IA real estate market. More homes sold in Coralville than in Iowa City or North Liberty last week. Still not as much activity as you would expect considering the interest rates are in the low 4's for a 30 year fixed loan and even in the 3's for a 15 year fixed loan. As I talked about in a recent post, the low interest rate should be as much as if not a bigger incentive than the tax credit. Free money is gone before you know it, a low interest rate means you save every month for the life of the loan. Plus, unlike the tax credit,...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Weekly snapshot of activity in the North Liberty IA real estate market. Homes sold week ending September 11, average price and days on market - Active Listings and homes under contract     196 Active Listings24 Homes Under Contract3 Homes Sold September 6  - September 11, 2010 Average Price Homes Sold w/e September 11, 2010 $216,266 Highest Price Home Sold: $219,900 Lowest Price Home Sold: $210,000 Highest number of days on market: 151 daysLowest number of days on market: 56 days With an absorption rate of 4.6 months North Liberty continues to do better than Coralville or Iowa City. The fact that we have a price driven market means that there are still great opportunities if you are buying a home in North Liberty. The low interest rates - 4.25% for a 30 year fixed rate loan - make it ev...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Snapshot of activity in the real estate market in Coralville IA - Homes sold week ending September 11, average price and days on market - Active listings and homes under contract     221 Active Listings 15 Homes Under Contract 1 Home Sold week ending September 11, 2010 Condo on Lyncrest Dr - Sold Price $98,000 - 37 days on market.   This is a snapshot of what's going on in the Coralville IA real estate market. Quiet week last week. Interest rates are still incredibly low at 4.25% for a 30 year fixed rate loan. As I talked about in a recent post, the low interest rate is as much as if not a bigger incentive than the tax credit. Free money is gone before you know it, a low interest rate means you save every month for the life of the loan. Plus, unlike the tax credit, the low interest rate...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
After a really wet summer we are finally getting some back to back days of sunshine in Coralville and Iowa City. Couldn't resist getting out there this week with my brand new Canon T2i to take some shots of my favorite park in Coralville - North Ridge Park. I know all parks are considered green. What makes this one special is that when they designed it they paid even more attention than usual to the environment with the use of sustainable choices. The North Ridge Pavilion is available to rent all year round. You can find information about that on the City of Coralville website.   As you can tell from the water and the water features, it was a pretty windy day... Nothing new for Iowa. My family lives on the coast in Wales. I used to think there were some pretty fierce winds there - That ...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Friday was a big day in Coralville as we celebrated all things Hawkeye prior to the first Hawkeye game of the season on Saturday. FryFest 2010 was a huge success. Coralville will show up in the next Guiness Book of Records as they broke the Hokey Pokey record with more than 7,000 people doing the Hokey Pokey at Fry Fest on Friday evening. I wasn't there for that. To be totally honest I am not a huge fan of crowds. I was there earlier in the day for the show and shine car show. Talked to Fred who is selling his MINI Cooper Clubman. (Hawkeye yellow no less). Also spoke to the owner of the Corvette who had just gotten back from vacation in Kensington, UK. Good thing I'm going over the good old Blighty next week otherwise I might have gotten a bit homesick! This was my very first time out w...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Market snapshot of current market conditions - Coralville IA September 6, 2010   219 Active Listings15 Homes Under Contract4 Homes Sold August 30 - September 4, 2010 Average Price Homes Sold w/e Sept 4, 2010 $322,000 Highest Price Home Sold: $370,000 Lowest Price Home Sold: $260,000 Highest number of days on market: 173 daysLowest number of days on market: 18 days Homes sales in Coralville IA picked up in August. Coralville did not benefit too much from the first time homebuyer credit. Now that the demand for higher priced homes seems to be returning we could see more strength in the Coralville market. Too early to tell yet. Watch for my market updates and you'll see how this story unfolds. Of course we still have the winning combination of more homes than buyers in the market place + h...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Coralville IA Real Estate Market Report August 2010 Compared to August 2009 25 homes sold in Coralville in August 2010 compared to 29 homes sold in August 2009. Nice to see the market is balancing out after the dip we saw in July.   Average Price Homes Sold August 2010 $248,578 Highest Price Home Sold: $765,000 Lowest Price Home Sold: $ 62,500 Average Price Homes Sold August 2010 $248,285 Highest Price Home Sold: $482,900 Lowest Price Home Sold: $ 82,000 The source for the data used in all my market reports is from the Iowa City MLS. For the days on market/absorption rate I take numbers from the MLS and insert them into a simple Excel spread sheet to avoid manipulating the data. Right now we have 8.4 months of inventory on the market, that's 256 days on market. This calculation does not...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
The car show at FryFest offered the perfect opportunity to go out and "test drive" my new Canon T2i. All those pretty shiny cars, I was absolutely spoiled for choice! These are the two that really caught my eye. Believe it or not, looking down the line of cars on show, it was the Mini Cooper that positively jumped out at you. Apparently Hawkeye Yellow trumps Corvette Red when it comes to sticking out in a crowd! (And I am a Prince fan. The Red Corvette was definitely not lost on me). Fred was obliging enough to pose for me for this photo. His Mini Clubman is up for sale and if you'd like to know more about that you can check it out on Craigslist.Now onto my first thoughts about my Canon T2i. These shots are straight from the camera with no post editing done. The sun went behind a cloud ...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
What's Three Dog Night got to do with Labor Day Weekend and Football Saturday you may ask? Well, they're the headliners at this year's FRYFest in Coralville, IA. Yep. As if the upcoming home game - Iowa Hawkeyes vs. Eastern Illinois Panthers wasn't big enough news, we have more. We're definitely going to kick off the season in style this year with FRY Fest in Coralville. This is the second annual FRY Fest. Coralville doesn't host as many events as Iowa City, but we certainly host the big ones. (If you weren't at the 4th of July celebrations in Coralville this year, then mark your calendar for next year, because it really epitomizes everything you would expect for a July fourth celebration).FRYFest will be taking place all day Friday, September 3, on the Iowa River Landing at the Marriot...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
  202 Active Listings28 Homes Under Contract3 Homes Sold August 23 - August 28, 2010 1 Zero Lot sold Price: $179,900 2 Condos sold Avg Price: $139,250 The North Liberty real estate market remains stronger than Iowa City and Coralville. The absorption rate is at 4.7 months. (This is the time it takes for the market to "absorb" homes). That's an average or 144 days on market. The fact that we have a price driven market means that there are still great opportunities if you are buying a home in North Liberty. Couple that with the extremely low interest rates - 4.25% for a 30 year fixed rate loan -  it's really hard to imagine a better combination of factors when it comes to buying a home in North Liberty. For sellers of course it's not quite as rosy. The price driven market means you proba...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
  228 Active Listings17 Homes Under Contract2 Homes Sold August 23 - August 30, 2010 1 Single family home sold Price: $62,500 1 Condo sold Price: $86,000 Highest number of days on market: 156 daysLowest number of days on market: 7 daysThe Coralville real estate market is continues to be pretty slow. We still have the winning combination of more homes than buyers in the market place + historically low interest rates. In fact they're lower than ever - 4.25% for a 30 year fixed rate loan! As I've said before, beats me why the market isn't a total frenzy with such lucrative times for buyers. If you're still on the fence about buying a home in Coralville, I know you've heard it before, but this is an astoundingly good time to buy a home. This particular set of conditions won't last forever....
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
  231 Active Listings16 Homes Under Contract5 Homes Sold August 16 - August 21, 2010 3 Single family homes sold Avg Price: $241,967 2 Condos sold Avg Price: $73,250 Highest number of days on market: 179 daysLowest number of days on market: 36 days The Coralville real estate market is continues to be pretty slow. We still have the winning combination of more homes than buyers in the market place + historically low interest rates. In fact they're lower than ever - 4.25% for a 30 year fixed rate loan! Beats me why the market isn't a total frenzy with such lucrative times for buyers. I guess we just wait and see what Fall brings. If you're still on the fence about buying a home in Coralville, I know you've heard it before, but this is an astoundingly good time to buy a home. This particula...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Weekly Market Update Coralville, IA August 16, 2010 - Number of Homes Sold, Average Price & Days on Market.   237 Active Listings21 Homes Under Contract5 Homes Sold August 9 - August 14, 2010 4 Single family homes sold Avg Price: $418,475 1 Condo sold Avg Price: $83,000 Highest number of days on market: 171 daysLowest number of days on market: 71 days The market continues to offer great opportunities for buyers.  We still have the winning combination of more homes than buyers in the market place + historically low interest rates, in fact they're lower than ever. For sellers it's a different story. We have a price driven market and buyers are looking for deals. They're also looking for shiny pennies. The winning combination for you is to price your home right + make sure it's the shiny p...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Weekly Market Update Coralville: Number of homes sold, homes under contract and active listings August 9, 2010       247 Active Listings21 Homes Under Contract7 Homes Sold August 2 - August 9, 2010 I use a simple method to calculate the absorption rate/days on market that doesn't manipulate the data. According to that calculation we have 9.4 months of inventory on the market, that's 286 days on market. A few months ago we had 11 months of inventory, at the moment it's holding steady around 9 months. It's heading the right way. We just need some time to work through all the homes on the market in Coralville. So what does all this mean if you're thinking of buying a home in Coralville? No change really. We've been saying it for a while now. It's a great market to buy a home. The winning c...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Music in the Park today in Coralville. Where? Morrison Park. When? 6.30pm - 8.00pm. The weather looks like it's going to play ball. We aren't exactly having our best summer ever... Today by way of a change they're forecasting sunshine. All the more reason to enjoy this break in the wet weather, bring along your chairs and hang out at Morrison Park and enjoy some good local music with Jeffrey Morgan and Friends. Best of all, this event is free, plus there's plenty of free parking too. As it's a Thursday it's Farmer's market day, plus Hyvee will be sure to get those juices flowing with the smell of brats on the grill. You know you can't beat the smell of brats sizzling, don't you?
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Coralville Real Estate Market Report July 2010 Compared to July 2009 26 homes sold in Coralville in July 2010 compared to 60 homes sold in July 2009. Not a huge surprise to see this dip in home sales after the expiration of the homebuyer tax credit at the end of June. Let's hope it was just a glitch and we see some stronger sales in August. Average Price Homes Sold July 2010 $215,665 Highest Price Home Sold: $635,000 Lowest Price Home Sold: $52,000 Average Price Homes Sold July 2010 $215,519 Highest Price Home Sold: $620,000 Lowest Price Home Sold: $61,500 As far as the days on market are concerned.  I use a simple method to calculate the absorption rate/days on market that doesn't manipulate the data. According to that calculation we have 9.4 months of inventory on the market, that's 2...
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By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
Weekly real estate market update Coralville, Iowa August 2, 2010: Homes sold, homes under contract and current listings.     251 Active Listings27 Homes Under Contract3 Homes Sold July 26 - July 31, 2010I use a simple method to calculate the absorption rate/days on market that doesn't manipulate the data. According to that calculation we have 9.6 months of inventory on the market, that's 292 days on market. It's going to take us a while to work through all the homes on market in Coralville so we probably won't see any major changes for a while.So what does all this mean if you're thinking of buying a home in Coralville? No change really. We've been saying it for a while now. It's a great market to buy a home. The winning combination of more homes than buyers in the market place + histor...
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