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Foreclosure wave hits Iowa hard

This was a headline in Thur.'s Des Moines Register. Iowa has the NINTH highest rate of home foreclosures in the nation! The top 3 reasons for the high foreclosure rate given in the article are: Poor credit. Many people who could least afford it were given mortgages at higher than normal interest rates. ARM's Adjustible Rate Mortgages. The low entry interest rates were very enticing...but as the interest rates were raised; they were not affordable. Bad Appraisals- many questionable loans were based on inflated appraisals. So- as the saying goes..if it seems to good to be true- it probably is. That is what many of those people are realizing now. The last line in the Register article is a classic. "These are bad loans that went looking for customers."
The good news could be- one of those foreclosures could be your next home! Let us know if you see one you'd like more information on. Bill 770-2455 and Bob 979-2883

INSTRUCTIONS ON CORNDOG QUESTION

At the bottom of the corndog posting there is a comment link. Click on comments - and there is a form to leave your answer ( or comment). If you don't identify yourself, we'll have no way to get your prize to you!

First Corn Dogs at the Iowa State Fair-When??

Here is you question of the month...worth a major prize if you get the correct answer. The Iowa State Fair is famous for food on a stick. Probably the first was the CORN DOG. What year did Campbell's Concession first sell Corn Dogs at the Iowa State Fair? Keep the replies coming, because we have multiple prizes! If you want more information about the fair; times, tickets, schedules etc. go to http://iowastatefair.org

TWO FUN EVENTS JULY 21 & 22

Stop, Shop and Roll! The shopping Extravaganza of the summer, Don't miss it! Saturday July 21st, 2007 9 a.m. to 4 p.m. at the Walnut Center on the Iowa State Fairgrounds. Free Admission. Go to their website to see complete information on what vendors will be there. http://stopshopandroll.com/

The second event is the 11th Annual Art-A-Fair at Hoyt Sherman Place, 1501 Woodland. There will be artists tents and booths on the lawn from 10 a.m. t0 4 p.m., July 22. Stroll the ground, and then enjoy lunch in their airconditioned gallery. Their web site is http://desmoineswomensclub.org/

Des Moines Area Weathers Housing's Ebb, Flow.

The Des Moines Register had an article Sundays paper, July8 about the local real estate market. It says the number of homes sold last year fell only 2% from sales in 2005, a record year. so far this year, home sales are 1.5 % below 2005, while the aaverage sale price hs climbed 2.6% to $164,142, from $160,045 in 2005. Information from the real estate association.
Home sellers are preparing for a toughter market with help from home stagers in order to get the best price in the shortest amount of time possible. Home stager Kristi Andriano eliminates clutter, weeds out extraneous furniture and puts the focus on the home's best features. They also give attention to curb appeal. With more homes on the market, the seller needs to see these extra details as an advantage to them to set their house apart from the others on the market in the same price range.
So the moral of the story is: It's a good time to buy or sell a house in the Des Moines area. Tactics may need to change a bit, but our market is strong. We'd love to be your Realtor.