2011 January | Skogman Real Estate

Featured Listing – 4030 37th Ave SW

January 28, 2011
By skogman

Today’s featured Cedar Rapids home for sale is a condo located at 4030 37^th Avenue SW #C and is listed by Julie Dancer. This condo was built in 2003 and has 2 bedrooms and 1 and a half bathrooms and almost 1,050 square feet finished and is listed for $109,900.

This home has a great aesthetic with upgraded cherry cabinets in the kitchen, black appliances and wood floors. Appliances include a refrigerator, microwave, range, washer and dryer, all of which are included in the price. The open floor plan and the sliding glass door off the great room allow for an abundance of natural light. Upstairs you will find a master bathroom off the master bedroom along with a vaulted ceiling.

No need to worry about shoveling snow or mowing your lawn with this no-fuss Townhome that is just 10 minutes from downtown Cedar Rapids and 20 minutes from Iowa City; perfect for the Corridor commuting family. Homeowners will enjoy the beautiful sunsets from the comfort of their rear deck.

Schedule your appointment today, to see 4030 37^th Avenue SW #C.

Contact Julie Dancer

319.310.5522

JDancer@skogman.com

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Market Update

January 18, 2011
By skogman

2010 was a peculiar year in the real estate market. The year started with the home buyer tax credit still in place, which lead to some of the best sales months we have ever seen. In the 2^nd quarter the Cedar Rapids Area Association of Realtors had the most sales in its history. We knew we ‘borrowed’ sales from the coming months, but we could have never predicted how many. There was a staggering drop in sales in May which lead to the worst 3^rd quarter in closings in 10 years according to CRAAR. We didn’t see sales begin to recover until November, when we a saw a 13% increase in pendings over 2009. December also showed a 7% increase over 2009. Overall the year ended up just 4% below 2009.

A bright note in the 4th Quarter was the reduction in inventory. In March the number of homes for sale in the Cedar Rapids area jumped to more than 2100 and continued to rise through September. October was the first month we saw a slight decrease in inventory and the decline continued through November and December. While we are happy to be heading in the right direction, inventory is still 13% higher than it was this time last year.

The Iowa City area also saw some of the highs and lows throughout the year. The Iowa City Association of Realtors reports that the total number of units sold was down 6% from 2009, while the average sale price was up slightly to $184,050 from $183,560 in 09. Iowa City saw a spike in inventory before the tax credit ended, but has seen that number steadily decline since May. In the month of December the number of homes for sale in Iowa City was at a 15 month low.

The number of homes for sale in a market is an indicator of how strong that market is. If there are fewer homes for sale that would typically mean that more homes are selling and therefore the market is thriving. When combined with the number of sales, we can see how many months of inventory we have. At the end of 2010 Cedar Rapids had 7.3 months of inventory and Iowa City had 10 months. In a ‘good’ market we like that number to be under 6 months.

We have been very fortunate in the Cedar Rapids/Iowa City real estate market when compared to our colleagues across the country. We are cautiously optimistic for 2011 that we will see a more stable real estate market.

2010 Iowa City area real estate market snap shot

2010 Cedar Rapids real estate market snap shot

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Featured Listing: 47 Crabapple Court, Iowa City

January 17, 2011
By skogman

Today’s featured home for sale is located at 47 Crabapple Court in Iowa City and is listed for $1,410,000 by Linda Thrasher. This stately home is located in the Walnut Ridge neighborhood and was a Parade Home in 2008. With 6 bedrooms, 5 full bathrooms, 2 half baths and over 8,200 finished square feet this home is sure to impress! Iowa City Realtor, Linda Thrasher, shared with us a few details about this signature listing.

What distinctive features set this home apart?

This home has the most incredible coffered copper ceilings in the grand foyer; the Builder used a secret process of adding beautiful hues of patina on the copper. There are hints of amber, the slightest green and subtle reds; the foyer is an awesome introduction to the home.

Can you describe the architectural style of the home?

The design is Tuscan with a touch of Iowa. There are key features that you would find in a Tuscan estate yet there are other features that allow the home to blend seamlessly with the Iowa landscape.

What are the advantages of the location and neighborhood?

This home is located in a juxtaposition of Iowa City and Coralville. Its on the west side of Iowa City yet it kisses the eastern part of Coralville. It is within minutes to Kinnick stadium, Finkbine golf course, University of Iowa Dental school and the University of Iowa Hospitals and Clinics. The home has great trails in its backyard that are part of the Johnson County trail systems. Shopping, dining, schools and places of worship are just a touch away. I-380/80 and Highway 218 are close, yet the home is tucked away on a quiet cul-de-sac. You get the best of all you can ask for!

Have there been any recent renovations or upgrades?

A new basketball pad has been added adjacent to the large garden garage.

What amazing views will the new homeowner be able to enjoy?

The homeowners can enjoy magnificent views of Iowa City and Coralville from the master suite on the second level. There are breathtaking views from every bedroom in the home.

What makes the price of this home so great?

There is no possibility of replicating this house today for this price as it sits on a 1.14-acre lot.

Can you tell us a fun fact about the home?

It has a wonderful space off the master loft for one to add a killer hot tub, where you can enjoy the views while you relax.

Is there anything else you would like us to know about the home?

It’s spectacular!

47 Crabapple Court, is a Signature Listing and is one of the most luxurious homes for sale in Iowa City at this time.

Contact Linda Thrasher with questions about this home!

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Congratulations to our Marquee Agents!

January 7, 2011
By skogman

Congratulations to our Marquee Agents!

These four agents were Skogman Realty’s sales leaders in December. In a month when sales don’t come easy, these agents proved that homes for sale in Iowa City and Cedar Rapids area are still selling!

You can see their names on our Downtown office marquee starting January 15^th!

Tiffany Earl