Lonnie Hohl Realty

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Lonnie Hohl

  • Has the Sioux City real estate market GONE MAD???

    As you might guess I am asked all the time - "Whats the real estate market like in Sioux City?"  In todays market (Apr of 2015) the market seems to have gone a little mad   Ok not really, but prices are going up and the number of homes for sale seems to be going down, at least on paper.  So this begs the question -

    "What is really going on?".  

    1) It seems that many folk that have a home mortgage have refinanced at some point in the past few years, taking advantage of the super low interest rates.  Now most of these home owners are content to stay put.  Many don't see a need to move.

    2) The rumors about CF industries and it expansion has gotten folks concerned about the local economy in terms how it will effect the area after all the workers have left.  As most of these workers are renting or bring there own housing with - the biggest impact should be on the rental market and the cost to rent will probable drop slightly.

    3) One of the biggest impacts on the housing market is the current job status in the Siouxland area.  Meaning there seem to be plenty of jobs if you don't mind working for $10 - $12 an hour.  If Siouxland could attract more higher paying jobs that would have a real effect.

    Conclusion: The number of home for sale is down, but if you need or want to sell now is a great time to sell.  There are Buyers just waiting for your home to come on the market.  So give me a call - Let talk.

    Agree or not post you thoughts below  

  • Tips on Selling your home

    There have been many articles written on "Tips to Sell your Home", but as with many things in life I find "Common Sense" is usually the key.  Now, what do I mean by "Common Sense" some may ask.  Most times it is a matter of risk vs reward.  For example:  You want to sell your home an a couple of the rooms in the house look a little blah. What to do? Give the walls a fresh coat of paint (best to use off white). Add some color with window treatments, brightly colored pillows, or colorful throw rugs.  Have outdated wall paper? remove and paint!!!  How about the front of the house? Does it lack curb appeal? Many time some simple landscaping touches, new coat of paint on the front door, can make a big impact when a potential Buyer drives by.
    Many times the changes that you may need are not that obvious.  After all, you do live there and you typically walk right by items everyday that should be addressed.  Am I right?  Sometimes it just takes an objective eye to help spot the obvious.  So ask a friend to do a walk-through and give you an honest opinion.  Better yet give me a call, let me help you figure out what work will net you a good return for the $$ and what items are better left alone.
    If you would like to see and read more about the home - Like my Facebook page 
     "Real Estate in the Greater Sioux City area" as 2-3 new articles are posted weekly.  Leave me a comment down below and let me know what the latest home project you are taking on.

  • Mortgage Rates Rise for Second Straight Week

    Just saw this report on interest rates and wanted to pass it on to my readers
     
     DAILY REAL ESTATE NEWS | FRIDAY, JUNE 13, 2014

    Mortgage rates inched up this week, with the 30-year fixed-rate mortgage averaging 4.20 percent, Freddie Mac reports in its weekly mortgage market survey. It marked the second consecutive week that mortgage rates rose, after previously reaching yearly lows.

    Freddie Mac reports the following national averages with mortgage rates for the week ending June 12:

    • 30-year fixed-rate mortgages: averaged 4.20 percent, with an average 0.6 point, rising from last week’s 4.14 percent. Last year at this time, 30-year rates averaged 3.98 percent.
    • 15-year fixed-rate mortgages: averaged 3.31 percent, with an average 0.5 point, rising from last week’s 3.23 percent average. A year ago, 15-year rates averaged 3.10 percent.
    • 5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.4 point, rising from last week’s 2.93 percent average. Last year at this time, 5-year ARMs averaged 2.79 percent.
    • 1-year ARMs: averaged 2.40 percent, with an average 0.4 point, holding the same as last week. A year ago, 1-year ARMs averaged 2.58 percent.

    Source: Freddie Mac

  • Low inventory means higher prices? Right?

    In little old Sioux City IA the number of homes for sale is down, way down. Currently numbers are running less than half of what would be considered a typical / normal market for the area. The odd thing is that one would expect home prices to be jumping, but not the case. What's the proof you might ask? First - the average sale price has only gone up .98% in the past year Second - Homes can still be found that have listed for sale multiple times with the same agent or with tow or more agents. Third - In a market that is moving up quickly most real estate agents will tell you that good appraisels can be hard to get, usually comps are hard to find to support these upward moving sale prices. That not the case here. So what to do? I will leave it at that - If you are a home owner in the Siouxland area call me lets talk. If you are another agent reading this - share your opinion - Love to hear for you!

  • Is now the time to buy or sell???

    The answer is both - Now let me explain what I mean by YES both.

    First for Sellers - Currently in the local Sioux City market the number of active homes for sale is down by 32% from the average.  In 2013 the number of homes sold was down by 12.5% from what what we see sold in a typical year.  So the question that should be asked is how much longer will Buyers wait?

    Next for Buyers - Although the housing inventory may be low than normal, there are still great homes to be purchased.  One of the key factors that Buyers need to keep in mind is home mortgage rates and what they may do.  Several top economist are predicting  interest rates will rise to 5 - 5.5% by early 2015.  Also FHA is pushing lenders to ease up on loan qualification to get more buyers into the market.

    Still not sure what might be right for you? Like my facebook fan page " Real-Estate-in-the-Greater-Sioux-City-area" and read some of the newest real estate articles.  Or call or email me - Lets Talk!

  • Mortgage Rates Fall to Four-Month Lows

  • Ranch For Sale in South Sioux City

    • 1,804 sq. ft., 1 bath, 3 bdrm ranch - $84,000

    Property information

  • Ranch For Sale in Morningside Central

    GEDC0380
    3 Bedroom 3 Bath Raised Ranch

    • 1,536 sq. ft., 3 bath, 3 bdrm ranch - MLS $120,000 - Price Reduced

     -  3 BEDROOM, 3 BATH RAISED RANCH IN A GREAT MORNINGSIDE NEIGHBORHOOD JUST NORTHEAST OF EAST MIDDLE. NEWER ROOF, NEWER HARDWOOD FLOORS, MASTER BATH, PERMANENT SIDING, FIREPLACE IN BASEMENT FAMILY ROOM, LARGE LOT, MATURE TREES.

    Property information

  • Back to School & what that mean to the real estate market?

    Sioux City Schools and most of the surrounding school are back in session.  So what does that mean to the real estate market?  For Sellers it means that Buyer activity should start to pick back up for the month of Sept & Oct.  Most folks don't want to move when the SNOW is flying, and this may be there last chance till next spring to make that move.  The reality is know one knows what the market holds for next spring.  Will prices go up (probable) or down?  Will interest rates hold (not likely) or will they start to creep up?  Will that house you have always wanted be there next spring?

    If only we had a crystal ball that told us the future!  So let be realistic, based on real estate history and current trends we expect the following:

    1) Housing inventor will remain low. Many Seller are still have a wait and see attitude -  Hoping for a better market.

    2) Interest rates continue to inch up - Some economist are predicting 5% for 30yr loans by early next year.

    3) Nationally prices are jumping in several real estate market - Locally in certain price ranges and home styles we could see a 1/2 to 1% rise in home prices by next spring - But some price ranges and home styles could remain flat.

    So Buying or Selling you can see that having an experienced agent could make all the difference.  Give me a call - It will only cost you a little time - But the reward just might be worth it!!!

  • Market Frustration

    Buying or Selling a home can be a very frustrating process, and this can be true in any market.  This is especially true in today’s market, and yes even in the greater Sioux City area. 
    National news continues to talk about the shortage of homes to be found in the market place, and how the prices of homes are on the rise again.  For a Seller this sounds almost too good to be true, just put it on the market at a fair price and it will sell. 

    The trick is what is a fair price?  Also a fair price for who?

    There are several factors that go into a “FAIR PRICE”. But condition is probably the single largest factor, what does the home need?  - Is the kitchen dated? -  How about the bathroom? -  Floor coverings? - Interior or exterior paint? – How about something as simple a landscaping?
    The problem that many Sellers have is that they don’t see these problems or don’t see them as a big deal.  “Why should I do that, the Buyer will just redo it there way after the sale.”  The simple answer is if you think maybe I should fix it – just do it.  The house will probable sell quicker and for more money.

    Buyers on the other hand have several hoops to jump through to please the lender in order to get financing.  Plus a large percentage of Buyer have limited funds, therefore are looking for the home in the best condition for their price range.

    Now every Buyer & every Seller’s circumstances are different.  So when you are ready to make that move give me a call.  Let’s see what makes sense for you in today's market.

  • Sellers The Spring Market is Right on Schedule

     The Spring Market is Right on Schedule

    In just a few weeks the spring market is going to be in  Full Swing!
    If you are thinking of selling your home, consider this:
    Is your home in selling condition?
    Are there repairs or update that need to be made?
    If so, do you know what will bring you the greatest return?
    If you want to make the move… ...but still have questions?

     Give me a call for a free no obligation conversation…

             …that could earn you hundreds maybe thousands of $$$