Real Estate Facts & Trends - Spring 2009

The Real Estate Market is Back!in March. At Ruhl&Ruhl, our new sales

pending in March were only down 0.8%

from March of 2008. And the first two

weeks of April have been up 43% over

the same weeks in 2008. In fact, nationally

March results also showed for the first time

that housing sales started to gain traction in

all regions of the country.

Positive Factors Causing BetterReal Estate Sales

Many factors are contributing to the

improving real estate market:

1.Mortgage Interest Rates at Record

Low - interest rates are at their lowest

level since 1947. In the 1980’s we said “if

interest rates would just get below 12%,

we can sell homes again...” Now interest

rates are below 5%.

2.Housing Affordability is at an All Time

High - housing affordability is at its

highest level since the government started

measuring it in the 1970’s.

3.First Time Buyer Tax Credit Programs

- of 2008 and 2009, offering up to $7,500

and $8,000 incentives to first time buyers,

identified as persons who have not owned

a principle residence in the three years

prior to purchase.

4.Positive News in the Media - this has

been as much a “fear session” as a

recession, with negative press coverage

eroding buyer confidence. Many

economic conditions were worse in the

1980’s, but we only had the news on TV

at 7:00 a.m. and 5:30 p.m. Now the public

is bombarded with bad news 24/7 on TV

and the internet. Thankfully some in the

media are beginning to localize their news

and even running some positive stories.

5.FHA Loans Easier and Affordable - the

Facts & TrendsR u h l & R u h l R E A L T O R S • S p r i n g 2 0 0 9

R e a l E s t a t e

In this issue:

page 3Spring Has Sprung in

New Construction

page 4Quad Cities - Second

Most Affordable in

Country

page 4Ruhl&Ruhl 100th

Largest Broker in

Country

page 4 See Ruhl&Ruhl’s

New Blog

page 6Our Region’s Home

Prices Stable

After six months of wondering if we would

ever sell another house, the real estate

market is back! Hallelujah!

The regional real estate market slowed

dramatically during the fourth quarter of

2008 and the first quarter of 2009. Real

estate pending sales were down as much as

50% compared to the prior year during

some months. Prospective buyers were

paralyzed with fear due to the troubled

economy, and concerns about whether or

not they would have a job. This downturn

is reflected in the 2009 Regional Real Estate

Trends chart on page 2. As shown, first

quarter sales volume was up 32% in

Dubuque, but down in all of our other

markets, with the drop from first quarter

2008 as follows:

Cedar Rapids . . . . . . . . . . . . . . � 17%

Clinton . . . . . . . . . . . . . . . . . . . � 53%

DeWitt . . . . . . . . . . . . . . . . . . . � 69%

Dubuque . . . . . . . . . . . . . . . . . . � 32%

Illinois Quad Cities. . . . . . . . . . � 19%

Iowa Quad Cities . . . . . . . . . . . � 28%

Iowa City . . . . . . . . . . . . . . . . . � 20%

Maquoketa/Preston/Bellevue . . � 43%

Muscatine . . . . . . . . . . . . . . . . . � 19%

In most markets the percent drop in number

of properties sold is less than the percent

drop in sales volume because sales in upper

price ranges have been more negatively

impacted by market conditions than sales in

lower price ranges. First time buyers,

motivated by historically low interest rates

and the First Time Buyer Tax Credit, are

able to buy without waiting for their current

homes to sell, which is part of the hold up

for move up buyers.

Housing Turnaround Beganin March

Our regional market began to improve

RuhlHomes.com

– Continued on page 2RuhlHomes.com ~ 1

Monta PonsettoRealtor

309.743.8084

[email protected]

Average % Change % Change % Change Active % Change2009 in Average 2009 in Number 2009 in Sales Listing In Active

Sales Sales Price Number Sold Sales Volume Count ListingsPrice from 2008 Sold from 2008 Volume from 2008 2009 from 2008

Cedar Rapids Area $140,800 -7% 578 -12% $81,360,800 -17% 1,577 -19%

Clinton/Camanche/Fulton $85,700 -19% 50 -43% $4,284,900 -53% 163 -33%

DeWitt $99,000 -19% 8 -62% $791,600 -69% 81 +33%

Dubuque Area $144,800 -2% 162 +30% $23,452,000 +32% 549 +35%

Illinois Quad Cities $111,600 -3% 302 -17% $33,705,800 -19% 896 -3%

Iowa Quad Cities $147,400 -10% 330 -20% $48,649,600 -28% 991 -6%

Iowa City Area $181,000 -4% 260 -16% $47,054,300 -20% 1,799 +6%

Maquoketa/Preston/Bellevue $113,500 +9% 12 -48% $1,361,500 -43% 74 -29%

Muscatine/Wilton $118,500 -2% 82 -17% $9,720,800 -19% 274 -3%

Through March

2 ~ RuhlHomes.com

2009 Regional Real Estate Trends

loosening of underwriting guidelines

for FHA loans and their requirement

for only a 3.5% downpayment has

made mortgages feasible for many

buyers. Other benefits of FHA loans

include easy loan modifications for

borrowers who fall behind, easy

refinancing plans if rates decline, and

low interest rates overall - which don’t

increase if the borrower has a low

credit score. There are no income

restrictions on FHA loans, so even

borrowers with high incomes may find

them attractive. Plus the loan limit in

our markets is $271,050, making it

high enough to use on the vast majority

of our home sales. Ruhl&Ruhl’s sister

company, 1862 Mortgage, is doing

60% of our business as FHA loans.

FHA loans still require an inspection

of the home, but the process is much

easier than it used to be.

6.Economic Stimulus Programs - the

government’s massive spending via the

stimulus plans will have a positive

effect on the housing market, giving a

shot in the arm to the economy and

creating jobs and/or reducing job

losses - all leading to better buyer

confidence.

Lawrence Yun, Chief Economist for

the National Association of Realtors,

predicts home sales in the second half of

2009 will be better than the first half of

the year for all of the above reasons. At a

March Realty Alliance meeting he

reported to a group of brokers that sales

in California were up 100% in units in

February. Brokers are referring to the

surge of pent up demand coming into the

market as a “herd mentality.” Once

buyers became more confident and

willing to re-enter the market, other

buyers didn’t want to miss out, and

everyone jumped in.

As our markets are now entering a

housing recovery, we need to urge buyers

who have been sitting on the sidelines to

seize the great investment opportunities

and good inventories available now,

before the “herd jumps in.”

The volatile economic picture will

obviously continue to impact

homebuying. Rising unemployment will

continue to put a brake on how fast

housing can recover. But for now, it

appears that regional consumers are

regaining confidence and taking

advantage of low interest rates and good

investment opportunities.

Iowa Quad CitiesListing Inventory: There were 991

homes and condominiums listed for sale

as of March 31, 2009, which is a 6%

decrease from last year when there were

1,052 properties for sale.

Properties Sold: 20% fewer properties

sold and closed in the first quarter of

2009 compared to 2008, a drop from 412

sales last year during this quarter to 330

sales this quarter.

Average Sales Price: The average sales

price in the Iowa Quad Cities fell by

10%, from $164,300 in 2008 to $147,400

in 2009.

Residential Sales Volume: Sales

volume fell by 28% from $67,695,100 to

$48,649,600.

Illinois Quad CitiesListing Inventory: The number of

properties for sale is down 3% from the

first quarter last year, a decrease from

923 listings last year to 896 listings this

year.

Properties Sold: In 2009, 17% fewer

properties sold during the same period as

in 2008, comparing 302 sales this year to

364 sales last year.


price decreased 3% from $114,500

through March of 2008 to $111,600

through March of 2009.


volume shrank by 19% from

$41,683,600 in 2008 to $33,705,800 in

2009. 40% of Quad Cities’ sales volume

was sold on the Illinois side, compared

to 38% during the same period in 2008.

Cedar Rapids AreaListing Inventory: There were 1,577

residential properties listed for sale on

March 31, 2009, 19% less than at the

same time last year when there were

1,953 properties listed.

Properties Sold: 578 properties sold and

closed during the first quarter of 2009,

12% fewer than the 654 that were sold



price in the Cedar Rapids region was

$140,800 through March 2009, 7% less

than the average sales price of $150,700

– Continued from page 1

Cedar Rapids – Continued on page 7

New Housing StartsThrough March

RuhlHomes.com ~ 3

Iowa Quad Cities 141 94 67 39 -42%

Davenport 43 26 15 14 -7%

Bettendorf & Riverdale 46 21 19 14 -26%

Rural Scott County 28 18 16 5 -69%

Eldridge & Long Grove 14 12 7 2 -71%

LeClaire & Princeton 10 14 9 4 -56%

Blue Grass - City of 0 3 1 0 -100%

Illinois Quad Cities 58 36 16 14 -12%

Moline & Coal Valley 9 4 2 1 -50%

Rock Island 8 2 2 0 -100%

East Moline & Hampton 7 1 1 0 -100%

Colona 4 2 1 0 -100%

Port Byron 1 1 0 0 0%

Geneseo 4 4 1 0 -100%

Rural Rock Island County & Milan 12 11 5 10 +100%

Silvis 2 4 1 1 0%

Whiteside County 11 7 3 2 -33%

Iowa City Area 155 132 67 73 +9%

Iowa City 28 31 23 18 -22%

Coralville 22 14 3 15 +400%

North Liberty 88 72 32 30 -6%

Rural Johnson County 12 7 5 6 +20%

West Branch 4 1 1 3 +200%

Williamsburg & Wellman 0 5 3 1 -67%

West Liberty 1 2 0 0 -0%

Cedar Rapids Area 142 119 93 65 -30%

Cedar Rapids 75 70 41 40 -2%

Marion 46 37 41 20 -51%

Rural Linn County 19 11 10 5 -50%

Hiawatha & Mechanicsville Areas 2 1 1 0 -100%

Dubuque Area 100 81 48 57 +19%

Dubuque 12 20 13 16 +23%

East Dubuque 2 0 0 0 0%

Galena 2 1 0 1 +100%

Jo Daviess County 23 8 12 5 -58%

Peosta 3 5 0 2 +200%

Surrounding Dubuque Area 58 47 23 33 +50%

Muscatine Area 21 10 10 7 -30%

Muscatine 7 4 2 5 +150%

Muscatine County 12 5 7 2 -71%

Wilton 2 1 1 0 -100%

Other Areas – Clinton, DeWitt & MaquoketaClinton 10 14 14 5 -64%

DeWitt Area 1 1 1 1 0%

Maquoketa, Preston & Bellevue 4 3 1 0 -100%

Total Regional Starts 632 490 317 261 -18%

(Source: Municipal offices. There may be additional new homes built which are not included with this data.)

2006 2007 2008 2009% Changefrom 2008

BY: DAVID FALK - Director,

New Construction and Development

[email protected]

Spring is here… and none too soon! After

a harsh winter, that showed up early and

stayed late, builders and buyers alike are

sensing both a change in season and a

change in attitude. Just as winter eases into

spring, and spring into summer, people’s

attitudes toward the new home market are

starting to show signs of life.

Incentives for first-time and other buyers

are starting to attract attention to the other

positive factors present – very low interest

rates and lots of choice in styles and price

ranges of new construction homes.

Builders are continuing to do a very good

job of differentiating the value of their

product from that of existing homes.

Innovations in building products and

techniques have had a very positive impact

on lowering the cost of ownership for new

homes, while updated space planning has

allowed the creation of interiors which are

more adaptable to “trans-generational” use.

Even though many first-time buyers may

not be prospects for new construction at all

price points, builders know that they will

free pent up demand by “move-up” buyers

who have not had confidence in their

ability to sell their existing homes.

An improbable factor in a resurgence of

new home buying is the status of new

construction inventories in our various

regional markets. Several of our markets

suffer from inventories which are

imbalanced for today’s market – meaning

they have too many, or too few, standing

units of a product type or price point that

buyers in the market are seeking. As an

example, the Iowa Quad Cities market has

seen a surge of purchases in two story free-

standing homes over the last 15 months. In

that time frame, about 50% of the homes

purchased have been two story homes,

while previously 30-35% of the market

would have been the norm in recent years.

Spring Has Sprungin New Construction

Ruhl Property ManagementFull Service Property Management and Tenant Placement

Service with knowledge and experience YOU CAN TRUST! 563.441.5230 New Construction – Continued on page 6

Regi

(NOTE: This representation is based in part on data suData maintained by the Boards or their MLS may not r

Iowa Quad Cities (Quad City Area Realtor Assoc.)

Davenport

Bettendorf & Riverdale

Blue Grass, Buffalo & Walcott

Pleasant Valley & LeClaire

North Scott

Miscellaneous

Condominiums

Illinois Quad Cities (Quad City Area Realtor Assoc

Rock Island

Milan & Rural Rock Island County

Moline

Coal Valley, Rural Moline, Miscellaneous

East Moline & Silvis

Colona, Green Rock, Port Byron, Upper Rock Island

Mercer County

Henry County South

Henry County North, Geneseo, Whiteside

Condominiums

Iowa City Area (Iowa City Area Assoc. of Realtors)

Iowa City

Coralville

North Liberty, Oxford, Tiffin & Conroy

Tipton & West Branch

West Liberty, Lone Tree & Hills

Williamsburg, Kalona, Wellman & Riverside

Corridor Area

Miscellaneous

Cedar Rapids Area (Cedar Rapids Area Assoc. of

South East Cedar Rapids

North East Cedar Rapids

South West Cedar Rapids

North West Cedar Rapids

Marion

Hiawatha & Robins

East of I-380: Mechanicsville, Anamosa, Mt. Vernon,

West of I-380: Walford, Fairfax, Atkins, etc.

Corridor Area: Solon, Ely, Swisher

Dubuque Area (Dubuque Board of Realtors)

Dubuque

North, South and West Dubuque

Illinois

Wisconsin

Muscatine Area (Muscatine Board of Realtors)

Muscatine

Wilton

Muscatine Outlying

Condominiums

Clinton, Camanche, Fulton Areas (Clinton Board

DeWitt Area (Quad City Area Realtor Assoc.)

Maquoketa, Preston & Bellevue Area (Jackson Co

Wisconsin (South Central Wisconsin MLS)

Grant County

Lafayette County

4 ~ RuhlHomes.com

2009 Through March

Ruhl&Ruhl 100th Largest Brokerin the Country

Of nearly 8,000 real estate companies in

the country, Ruhl&Ruhl REALTORS

was just ranked the 100th largest broker

in the U.S. by REAL Trends in their

annual Big Broker report. This

continues a steady climb – from 146th

in 2005 to 113th in 2006 and 100th

based on 2007 and 2008 results.

Brokers are ranked based on the

number of residential transaction sides

closed during the prior year. Ruhl&Ruhl

closed 3,602 listings and/or sales during

2008, nearly 10 deals per day. Ruhl

agents each closed an average of 16

transactions in 2008, compared to 7

deals per agent which is the national

average. Ruhl&Ruhl agents ranked

among the best in the country for per

agent productivity.

Company President, Caroline Ruhl

observed, “Our agents’ high

productivity reflects Ruhl&Ruhl’s

philosophy of associating with the

highest quality agents in the

marketplace. We are dedicated to

providing the best service to our clients

by the best agents in the business. Our

ongoing training and marketing

technology enables our agents to be

highly productive.”

Quad Cities - Second Most Affordablein the Country

Forbes.com has listed the Quad Cities

area as second in the nation for low cost

of living expenses in its “Best Places for

Business and Careers” survey.

In its survey of the 200 largest

metropolitan areas in the U.S., released

the week of March 25, 2009, the

magazine website listed the Davenport

MSA (Metropolitan Statistical Area),

which includes the Quad Cities area,

with a population of 377,000. The Quad

Cities also ranked:

• 30th for cost of doing business

• 85th for income growth and

• 101st for job growth projected

It showed our median home price at

$91,700.

The Military Service Member Homeownership Assistance program administered

by the Iowa Finance Authority provides up to $5,000 that may be used toward a

down payment or closing costs on a primary residence. The service member must

have served in active duty after September 11, 2001. Contact 1862 Mortgage to

obtain the details and close on your new home!

563.441.1862 • [email protected] • 866.441.1862

Military Service MemberHomeownership Assistance

We have two new ways for

you to receive information

about real estate. Visit our

blog at RuhlBlog.com or, if

you are on Facebook, search

for Ruhl&Ruhl REALTORS

and become a “fan.” We will

keep you up to date on real

estate happenings in all of the

communities we serve!

See Ruhl&Ruhl’s New Blog

ional Residential Real Estate Ac tiv i ty

upplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way responsible for its accuracy.reflect all real estate activity in the market.)

991 $147,400 $48,649,600 330 96% 412 $164,300 $67,695,100

441 45% 110,700 18,930,500 171 52% 95% 226 125,900 28,447,500

157 16% 220,300 15,864,300 72 22% 95% 91 242,800 22,090,600

57 6% 150,900 1,961,700 13 4% 95% 8 146,400 1,170,900

54 5% 219,800 2,637,200 12 4% 96% 14 236,200 3,306,100

57 6% 175,100 2,976,700 17 5% 97% 26 205,300 5,338,200

16 2% 84,900 424,500 5 2% 87% 4 176,500 705,900

209 20% 146,400 5,854,700 40 11% 97% 43 154,300 6,634,000

c.) 896 $111,600 $33,705,800 302 95% 364 $114,500 $41,683,600

133 15% 92,700 5,374,600 58 19% 93% 52 75,400 3,919,800

51 6% 100,900 2,017,400 20 7% 93% 21 170,600 3,582,800

152 17% 91,600 6,777,000 74 25% 94% 91 99,700 9,074,700

48 5% 173,700 2,258,100 13 4% 97% 18 131,400 2,364,300

87 10% 102,300 3,172,500 31 10% 95% 43 99,300 4,271,800

Co. 36 4% 237,000 2,607,400 11 4% 94% 23 165,500 3,805,700

88 10% 82,400 1,482,600 18 6% 96% 24 86,600 2,078,100

45 5% 93,800 1,407,100 15 5% 95% 14 99,000 1,386,600

127 14% 133,300 5,866,200 44 15% 95% 54 134,100 7,242,700

129 14% 152,400 2,743,000 18 5% 96% 24 164,900 3,957,000

) 1,799 $181,000 $47,054,300 260 94% 311 $188,000 $58,471,500

690 38% 206,800 17,995,100 87 33% 94% 110 205,700 22,626,300

259 14% 232,800 7,216,300 31 12% 95% 36 278,800 10,037,100

353 20% 156,300 11,407,500 73 28% 98% 59 179,400 10,581,600

61 3% 134,300 1,342,900 10 4% 95% 12 153,000 1,836,100

40 2% 178,200 1,247,400 7 3% 95% 7 178,700 1,250,900

137 8% 140,300 2,244,000 16 6% 90% 17 158,100 2,687,700

78 5% 206,300 1,444,300 7 3% 97% 15 208,700 3,130,800

181 10% 143,300 4,156,800 29 11% 87% 55 114,900 6,321,000

Realtors) 1,577 $140,800 $81,360,800 578 96% 654 $150,700 $98,530,800

195 12% 121,800 8,771,300 72 12% 96% 77 $128,700 9,913,200

174 11% 156,100 17,485,600 112 20% 96% 104 $133,900 13,921,600

179 11% 135,500 13,008,600 96 17% 98% 98 $135,500 13,281,300

92 6% 104,900 3,986,100 38 7% 91% 62 $141,500 8,770,700

213 14% 172,500 16,908,500 98 17% 98% 116 $177,500 20,594,400

44 3% 186,200 2,234,100 12 2% 97% 12 $308,100 3,697,500

Lisbon, etc. 364 23% 127,800 9,713,900 76 13% 94% 86 $151,100 12,996,500

172 11% 110,500 5,301,700 48 8% 92% 67 $128,900 8,639,500

144 9% 152,000 3,951,000 26 4% 98% 32 $209,900 6,716,100

549 $144,800 $23,452,000 162 93% 125 $142,600 $17,818,700

350 64% 146,100 17,091,200 117 72% 94% 93 149,600 13,914,400

131 24% 160,000 4,481,000 28 18% 92% 24 125,900 3,021,900

34 6% 89,000 623,400 7 4% 88% 3 133,500 400,500

34 6% 125,600 1,256,400 10 6% 86% 5 96,400 482,000

274 $118,500 $9,720,800 82 93% 99 $121,300 $12,012,200

164 60% 118,600 6,998,800 59 72% 92% 69 122,800 8,473,800

28 10% 96,500 289,600 3 4% 91% 9 117,100 1,054,000

62 23% 92,600 1,574,900 17 20% 97% 18 108,100 1,945,400

20 7% 285,800 857,500 3 4% 90% 3 179,700 539,000

of Realtors) 163 $85,700 $4,284,900 50 93% 87 $105,900 $9,212,600

81 $99,000 $791,600 8 90% 21 $122,900 $2,580,500

ounty MLS) 74 $113,500 $1,361,500 12 91% 23 $104,000 $2,392,700

381 $159,300 $10,513,400 66 90% 50 $203,200 $10,160,400

287 75% 137,900 7,306,400 53 80% 86% 45 215,700 9,706,400

94 25% 246,700 3,207,000 13 20% 90% 5 90,800 454,000

Current % of Active 2009 Avg. 2009 Sales 2009 % o Unit Sale/ 2008 2008 Avg. 2008 Sales

MLS Listings Listings Sales Price Volume # Sold Sales List # Sold Sales Price Volume

RuhlHomes.com ~ 5

However, at the end of the first quarter,

only 34% of new homes in inventory

were two story homes. This is true in the

best selling price range of $225-

$300,000 and is consistent in the other

price ranges as well. However, by

contrast, in the Illinois Quad Cities only

10% of sales and 10% of current

inventory are two story homes. In the

same QCA market, attached homes /

townhomes / villas accounted for 33% of

the market sales in 2008, but represent

46% of the standing inventory at the end

of the first quarter in 2009.

These are just two examples of the

imbalance in inventories experienced in

a number of our regional markets, but

they can have a serious impact on how

buyers, builders, lenders and even agents

can view a market if they do not look

closely enough. Buyers see generalized

numbers and may incorrectly think that

an overstuffed market is ripe for bargain

hunting. Builders need to look for the

correct niche to take advantage of an

under-built price point or style, and

lenders need to be ready to look beyond

what has not sold well to support

builders who are lining up with the

expressed needs of the marketplace,

wherever or whatever that might be.

Location, style, price and the appropriate

quality of construction for each are still

the key factors in determining success in

new construction sales.

Spring is here! Let’s take advantage of

the change in season and the change in

attitudes to BUILD toward a Great 2009!

Our Region’s Home Prices Stable ~We Are “An Isolated Pocket of Strength”

The headlines of the Federal Housing

Finance Agency’s news release read:

Record Home Price Declines in Fourth

Quarter; Isolated Pockets of Strength.

We are happy to report that our

region is one of the “isolated pockets

of strength.” Nationally, prices fell 8.2%

from the fourth quarter of 2007 to the

fourth quarter of 2008.

In our markets, as shown to the right,

prices either increased during the same

timeframe: 0.85% in the Quad Cities;

0.57% in Dubuque; 0.69% in Cedar

Rapids; or they decreased only slightly -

1.63% in Iowa City and 1.48% in

DesMoines.

Furthermore, of the 294 MSA’s

(Metropolitan Statistical Areas) ranked

by appreciation, our markets all ranked

highly - the Quad Cities at 61st, Cedar

Rapids 70th, Dubuque 76th, and Iowa

City 143rd.

If you compare our appreciation in

home prices over one year to the 40%

drop in stock values, real estate continues

to be a great investment in our region.

Cedar Rapids, IA 70 +0.69% +12.56%

Davenport - Moline - Rock Island, IA - IL 61 +0.85% +17.57%

DesMoines - West DesMoines, IA 138 -1.48% +14.10%

Dubuque, IA 76 +0.57% +17.86%

Iowa City, IA 143 -1.63% +15.37%

USA -8.24 +12.99

Percent Changein House PricesMetropolitan

Statistical Areas

National Rankingby Appreciationof 294 MSA’s* 1 Year 5 Years

Information courtesy of Office of Federal Housing Enterprise Oversight (OFHEO). OFHEO stats alwaysrun one quarter behind. Their full report is accessible at www.ofheo.gov.*Rankings based on annual percentage change in house prices.

Combined Iowa & Illinois Quad Cities MLS Statistics2005 2006 2007 2008 2009

Current MLS Listings 1,690 1,880 1,911 1,975 1,887

Average Sales Price $127,800 $136,400 $135,200 $141,000 $130,300

Total Sales Volume $115,382,000 $126,759,000 $119,146,000 $109,378,700 $82,355,400

Total # of Sales YTD 903 929 881 776 632

Through March

New Construction – Continued from page 3CHANGE IS GOOD.

Finally, it’s your turn. Be an

entrepreneur. Be in control of your

own destiny. Find out about a real

estate career.

FREE Real EstateCareer Seminars

Wednesday, May 20, 20097:00 pm - 8:30 pm • Davenport

Thursday, June 25, 20097:00 pm - 8:30 pm • Moline

For a reservation, go to

RuhlHomes.com/Careers

or call Darcy Holle,

Director of

Career Development

563.441.5102

6 ~ RuhlHomes.com

RuhlHomes.com ~ 7

through March 2008.


volume fell 17%, from $98,530,800 in

the first quarter of 2008 to $81,360,800

through March 31, 2009.

Clinton, Camanche & FultonListing Inventory: There are 33% fewer

properties listed for sale in March this

year than last, comparing 245 listings in

March 2008 to 163 properties for sale in

March 2009.


sold and closed through 2009, a decrease

from 87 sales in 2008 to 50 sales in 2009.


price in Clinton and Camanche during

2009 was $85,700, a 19% decrease from

the average sales price of $105,900



volume was down 53% through the first

quarter of 2009 from $9,212,600 in 2008

to $4,284,900.

DeWittListing Inventory: DeWitt’s listing

inventory is 33% more than the first

quarter last year, an increase from 61

listings in 2008 to 81 properties for sale

in March of 2009.

Properties Sold: 8 properties sold and

closed during the first quarter of 2009

compared to 21 sales in 2008, a 62%

decrease.


price of homes sold through March 2009

was $99,000, 19% less than last year’s

average sales price of $122,900.

Residential Sales Volume: Sales volume

in DeWitt shrank by 69% from last year,

a decrease from $2,580,500 to $791,600.

DubuqueListing Inventory: There were 549

residential properties listed for sale in

Dubuque at the end of March 2009. This

is a 35% increase over last year’s 359

properties.

Properties Sold: 30% more properties

sold and closed in 2009 compared to last

year, a climb from 125 closings in 2008 to

162 closings through March of this year.


price of homes sold through March 2009

was $144,800 compared to the average

sales price of $143,400 through the first

quarter of 2008, a 2% decline.


volume for 2009 of $23,452,000 was up

32% from last year’s sales volume of

$17,818,700.

Iowa CityListing Inventory: There is an increase

of 6% in properties for sale, a step up

from 1,701 last year to 1,799 homes and

condominiums currently on the market

in March of this year.

Properties Sold: Sales have decreased

16% from 311 properties sold through

the first quarter of 2008 to 260 sales

closed through March of 2009.


price of homes sold in the Iowa City

region decreased by 4% from $188,000

through March of 2008 to $181,000



volume shrank 20%, decreasing from

$58,471,500 through the first quarter of

2008 to $47,054,300 through the first

quarter of 2009.

Maquoketa, Preston & BellevueListing Inventory: There are 74

properties for sale in the Maquoketa,

Preston, and Bellevue area, 29% less than

the 104 properties listed in March of 2008.


sold through the first quarter of 2009

than 2008, a decrease from 23 sales last

year to 12 sales this year.


price of homes sold through March of

2009 was $113,500, 9% more than the

average sales price of $104,000 through

March of last year.


volume shrank by 43%, from $2,392,700

through March of 2008 to $1,361,500


Muscatine & Wilton AreaListing Inventory: There were 274

homes and condominiums listed for sale

at the end of March in the Muscatine and

Wilton area, 3% less than the same time

in 2008 when there were 283 properties

for sale.

Properties Sold: There were 17% fewer

residential properties sold through the

first quarter of 2009 than 2008,

comparing 82 sales this year to 99 sales

last year.


price in the Muscatine area was $118,500

as of March 31, 2009, 2% lower than the

$121,300 average sales price last year

during this time period.


volume is down 19% in the Muscatine

area through March of 2009, a decrease

from $12,012,200 to $9,720,800.

Cedar Rapids – Continued from page 2

Scott County 53 303 58 254 37 206 -36%

Houses 32 180 43 143 24 128 -44%

Condos/Villas 21 123 15 111 13 78 -13%

Rock Island County 11 105 12 117 11 65 -8%

Houses 7 49 6 45 2 19 -67%

Condos/Villas 4 56 6 72 9 46 +50%

Scott & Rock Island Counties Combined 64 408 70 371 48 271 -31%

Houses 39 229 49 188 26 147 -47%

Condos/Villas 25 179 21 183 22 124 +5%

(Source: Quad City Area REALTOR Association Multiple List ing Service. Data may not reflect all real estate activity in the market.)

Quad Cities New Construction Home SalesActive

Inventory3/31/07

Sales2008

Sales2007

ActiveInventory

3/31/08Sales2009

ActiveInventory

3/31/09

Sales2009

vs. 2008Through March

For further information or to be added to our mailing list, contact Caroline Ruhl or Veronica Pianca

563.355.7474 • 5403 Victoria Avenue, Suite 100 • Davenport, Iowa 52807-3925

[email protected] or [email protected]

Call Ruhl&Ruhl’s Relocation Cen terWe provide FREE help with recruiting and relocation services:

800.346.8389 or [email protected]

contact

Veronica Pianca, Vice PresidentRelocation & Business De vel op ment

Welcome Packets: Community Overview

Mortgage Services ~ 1862 Mortgage

866.441.1862 • [email protected]

School Information

Community Tour

Visit our website at RuhlHomes.com for realestate listings and community in for ma tion.

Housing Information

Cost of Living Comparison

Free Market Analysis of Home

Relocation & Recruiting As sis tance

Corporate Relocation Center

5403 Victoria Avenue, Suite 100

Davenport, IA 52807-3925

ADDRESS SERVICE REQUESTED

8 ~ RuhlHomes.com

Monta PonsettoRealtor

309.743.8084

[email protected]

Regional Residential Real Estate Ac tiv i ty

(NOTE: This representation is based in part on data supplied by the REALTOR Associations or their Multiple List ing Services. Neither the Boards nor their MLS guarantee or is in any way responsible for its accuracy.Data maintained by the Boards or their MLS may not reflect all real estate activity in the market.)

Iowa Quad Cities (Quad City Area Realtor Assoc.) 991 $147,400 $48,649,600 330 96% 412 $164,300 $67,695,100

Davenport 441 45% 110,700 18,930,500 171 52% 95% 226 125,900 28,447,500

Bettendorf & Riverdale 157 16% 220,300 15,864,300 72 22% 95% 91 242,800 22,090,600

Blue Grass, Buffalo & Walcott 57 6% 150,900 1,961,700 13 4% 95% 8 146,400 1,170,900

Pleasant Valley & LeClaire 54 5% 219,800 2,637,200 12 4% 96% 14 236,200 3,306,100

North Scott 57 6% 175,100 2,976,700 17 5% 97% 26 205,300 5,338,200

Miscellaneous 16 2% 84,900 424,500 5 2% 87% 4 176,500 705,900

Condominiums 209 20% 146,400 5,854,700 40 11% 97% 43 154,300 6,634,000

Illinois Quad Cities (Quad City Area Realtor Assoc.) 896 $111,600 $33,705,800 302 95% 364 $114,500 $41,683,600

Rock Island 133 15% 92,700 5,374,600 58 19% 93% 52 75,400 3,919,800

Milan & Rural Rock Island County 51 6% 100,900 2,017,400 20 7% 93% 21 170,600 3,582,800

Moline 152 17% 91,600 6,777,000 74 25% 94% 91 99,700 9,074,700

Coal Valley, Rural Moline, Miscellaneous 48 5% 173,700 2,258,100 13 4% 97% 18 131,400 2,364,300

East Moline & Silvis 87 10% 102,300 3,172,500 31 10% 95% 43 99,300 4,271,800

Colona, Green Rock, Port Byron, Upper Rock Island Co. 36 4% 237,000 2,607,400 11 4% 94% 23 165,500 3,805,700

Mercer County 88 10% 82,400 1,482,600 18 6% 96% 24 86,600 2,078,100

Henry County South 45 5% 93,800 1,407,100 15 5% 95% 14 99,000 1,386,600

Henry County North, Geneseo, Whiteside 127 14% 133,300 5,866,200 44 15% 95% 54 134,100 7,242,700

Condominiums 129 14% 152,400 2,743,000 18 5% 96% 24 164,900 3,957,000

Iowa City Area (Iowa City Area Assoc. of Realtors) 1,799 $181,000 $47,054,300 260 94% 311 $188,000 $58,471,500

Iowa City 690 38% 206,800 17,995,100 87 33% 94% 110 205,700 22,626,300

Coralville 259 14% 232,800 7,216,300 31 12% 95% 36 278,800 10,037,100

North Liberty, Oxford, Tiffin & Conroy 353 20% 156,300 11,407,500 73 28% 98% 59 179,400 10,581,600

Tipton & West Branch 61 3% 134,300 1,342,900 10 4% 95% 12 153,000 1,836,100

West Liberty, Lone Tree & Hills 40 2% 178,200 1,247,400 7 3% 95% 7 178,700 1,250,900

Williamsburg, Kalona, Wellman & Riverside 137 8% 140,300 2,244,000 16 6% 90% 17 158,100 2,687,700

Corridor Area 78 5% 206,300 1,444,300 7 3% 97% 15 208,700 3,130,800

Miscellaneous 181 10% 143,300 4,156,800 29 11% 87% 55 114,900 6,321,000

Cedar Rapids Area (Cedar Rapids Area Assoc. of Realtors) 1,577 $140,800 $81,360,800 578 96% 654 $150,700 $98,530,800

South East Cedar Rapids 195 12% 121,800 8,771,300 72 12% 96% 77 $128,700 9,913,200

North East Cedar Rapids 174 11% 156,100 17,485,600 112 20% 96% 104 $133,900 13,921,600

South West Cedar Rapids 179 11% 135,500 13,008,600 96 17% 98% 98 $135,500 13,281,300

North West Cedar Rapids 92 6% 104,900 3,986,100 38 7% 91% 62 $141,500 8,770,700

Marion 213 14% 172,500 16,908,500 98 17% 98% 116 $177,500 20,594,400

Hiawatha & Robins 44 3% 186,200 2,234,100 12 2% 97% 12 $308,100 3,697,500

East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Lisbon, etc. 364 23% 127,800 9,713,900 76 13% 94% 86 $151,100 12,996,500

West of I-380: Walford, Fairfax, Atkins, etc. 172 11% 110,500 5,301,700 48 8% 92% 67 $128,900 8,639,500

Corridor Area: Solon, Ely, Swisher 144 9% 152,000 3,951,000 26 4% 98% 32 $209,900 6,716,100

Dubuque Area (Dubuque Board of Realtors) 549 $144,800 $23,452,000 162 93% 125 $142,600 $17,818,700

Dubuque 350 64% 146,100 17,091,200 117 72% 94% 93 149,600 13,914,400

North, South and West Dubuque 131 24% 160,000 4,481,000 28 18% 92% 24 125,900 3,021,900

Illinois 34 6% 89,000 623,400 7 4% 88% 3 133,500 400,500

Wisconsin 34 6% 125,600 1,256,400 10 6% 86% 5 96,400 482,000

Muscatine Area (Muscatine Board of Realtors) 274 $118,500 $9,720,800 82 93% 99 $121,300 $12,012,200

Muscatine 164 60% 118,600 6,998,800 59 72% 92% 69 122,800 8,473,800

Wilton 28 10% 96,500 289,600 3 4% 91% 9 117,100 1,054,000

Muscatine Outlying 62 23% 92,600 1,574,900 17 20% 97% 18 108,100 1,945,400

Condominiums 20 7% 285,800 857,500 3 4% 90% 3 179,700 539,000

Clinton, Camanche, Fulton Areas (Clinton Board of Realtors) 163 $85,700 $4,284,900 50 93% 87 $105,900 $9,212,600

DeWitt Area (Quad City Area Realtor Assoc.) 81 $99,000 $791,600 8 90% 21 $122,900 $2,580,500

Maquoketa, Preston & Bellevue Area (Jackson County MLS) 74 $113,500 $1,361,500 12 91% 23 $104,000 $2,392,700

Wisconsin (South Central Wisconsin MLS) 381 $159,300 $10,513,400 66 90% 50 $203,200 $10,160,400

Grant County 287 75% 137,900 7,306,400 53 80% 86% 45 215,700 9,706,400

Lafayette County 94 25% 246,700 3,207,000 13 20% 90% 5 90,800 454,000

Current % of Active 2009 Avg. 2009 Sales 2009 % o Unit Sale/ 2008 2008 Avg. 2008 Sales

MLS Listings Listings Sales Price Volume # Sold Sales List # Sold Sales Price Volume2009 Through March

Real Estate Facts & Trends - Spring 2009

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