Disaster or Oppotunity?

The Business Record ( Dec. 09) show that bankruptcy filings in the Southern District of Iowa have increased 20% from 2008 to 2009. In Polk county there were 944 bankruptcies filed in 2006. In Dec. of 09, 1,862 were filed in Polk County.

The website realtytrac says there were 7,284 new foreclosure filings in 2009. The newest Business Record has the latest statistics for Des Moines area foreclosures. Mortgages that were 90+ days delinquent in Dec. 09 - 5.04%. In Dec. 08, 3.35% were 90+ days delinquent. The foreclosure rate in the Des Moines area ( 1.71%) is higher than for the state of Iowa (2.04%), but lower than the national average (3.16%). Those figures are for Dec. 09.

These are startling statistics. But as Winston Churchill has been quoted - A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. We need to put on the rose-colored glasses and identify the opportunities. Mortgage companies and banks do NOT want to be landlords. These properties will get sold. Could one of them be your dream house? It might be a good time to investigate. You could qualify for an $8,000 or $6,500 tax credit. You could get a new mortgage with still low interest rates. You could shorten your mortgage to 15 years and gain equity quicker.

If you are in one of these dire situations, don't hide your head in the sand. Talk to professionals and see what solutions are available. Repeat, mortgage companies do NOT want to be landlords. Short sales can be worked out, deed in leau of foreclosure, loans retructured. Lets look for the Opportunities.

Whatever your situation is, The Eisenlauer Team is ready to assist. Give either Bill (770-2455) or Bob (979-2883) a call.

Game On...

We'd like your vote - for Cityview's Best of 2009 Realtor. We're defending our title from 2008. We found out that any votes for Eisenlauer Team are discarded. So, please cast your vote for Bob Eisenlauer. Go to dmcityview.com. On the right side is a graphic saying Vote Now for Best of 2009. Click on that - there are pages of categories . On the last page is Best Realtor - type in Bob Eisenlauer. And thank you, thank you, we appreciate your support! Call Bob at 979-2883 or Bill Eisenlauer at 770-2455 for any info about real estate or the contest. (The picture is a staged brawl between Bob and the No. 2 team from 2008.) Remember the slogan - Vote Early, Vote Often.

Tax Credit First Time Home Buyers

There are a lot of questions concerning the Tax Credit for first-time home buyers - signed into law 2/17/09. Here are some basic rules.
1.Buyer has to be a "first time" Buyer.

2.Buyers may not have owned a home for the past three years

3. Home was purchased by 01/01/09 thru 11/30/09.

4.Income limit restrictions are: $75,000 Singles and $150,000 Couples. Higher incomes will receive a partial credit.

5. Must live in the home for three years, or Buyer will be obligated to pay it back.

6.Credit is 10% of the home value or $8,000, whichever is less. Any purchase over $80,000 will be the $8,000 tax credit.

7.Buyers will claim the credit on their tax return

Any questions regarding the Tax Credit should be directed to the your CPA or Tax Accountant.

Any questions regarding real estate should be directed to your local Real Estate Experts - Bill Eisenlauer 770-2455 or Bob Eisenlauer 979-2883.

Predictions For 2009

Here are my Predictions for 2009.

• Oprah will reveal a NEW fitness plan.
• New amazing products like Sham-Wow will entice us on late night t.v.
  
• Yankees will spend more money than any other major league team.


• New elected officials will remind us too much of the old ones we voted out.


• Someone will be voted off the island.


• Howie Mandell will get a new game show.
  
• Des Moines Register will continue to highlight Gloom & Doom
• Foreclosures will continue to be in every neighborhood.


• Mortgage interest rates will continue to be at all time LOW.
• Current economic situation will create some amazing bargains for those watching for opportunities.
• Eisenlauer Team will be ready to serve your real estate needs.

The Eisenlauer Team continue to be your area experts in real estate. We continue to sell houses and land in Polk County, Des Moines, Altoona, Pleasant Hill, SE Polk and other nearby communities. Please give us a call, or pass our name onto friends and family looking for a professional Realtor. Bill Eisenlauer at 770-2455 or Bob Eisenlauer at 979-2883.