Welcome to the Lake Homes and Farms Realty blog. Here you will find all of the latest information and what is happening around our office and Lake Sundown. Check back often and if you have any questions about land for sale in the state of Iowa or Lake Sundown give us a call. Also make sure and like us on Facebook and stay connected on LinkedIn.
Fishing at Lake Sundown
FISHING PRIVATE WATERS Much fishing in Iowa is done on private waters with consent of the property owner. Iowa residents and nonresidents 16 years old and older are required to have a valid Iowa fishing license to fish farm ponds, trout streams and privately owned lakes. Only owners or tenants of land and their children under 18 may fish on such lands without a license. All anglers on private waters must abide by rules and regulations governing fishing, including bag limits, except there is no daily bag limit for bluegill or crappie for private waters. Statewide length limits do not apply on private waters. Just because a pond was stocked by the DNR does not open that pond to public fishing. When fishing privately owned waters, be sure to ask the property owner for permission to fish, do not block lanes and driveways, close any gates opened, do not damage fences and leave the area clean and unlittered.
13 Real Estate Tips from Forbes Magazine that Hold up in any Real Estate Market
1. Always Conduct Thorough Research On The Current Market
Although real estate values fluctuate due to local supply/demand dynamics and broader national economic considerations, it’s important to remember that properties always sell for no more or less than what the market will bear at that time. Whether buying or selling, do your research, plot your data points, use a variety of resources so that you’re confident in your list or offer price. – Garratt Hasenstab, The Mountain Life Companies™
2. Don’t Reject Low-Priced Offers Without Negotiating
Selling your home can feel like giving up something you love, so a low-priced offer can leave sellers feeling insulted. Homebuyers base their offer price largely on their own affordability, but will consider raising it if the location is just right or if there is value in renovations already done. Stay open to negotiations and working with the buyer rather than turning down a low-priced offer. – Beatrice de Jong, Open Listings (YC W15)
3. Buy Whenever You Can
There’s never a wrong time to buy. There is only a wrong time to sell. If you look at real estate trends over the last century, prices go up and down and we have booms and busts. The buyers who win are the ones willing to ride the wave, see a purchase through the cycle. Buy when you can, and hold till the sale is profitable. – Courtney Poulos, ACME Real Estate
4. Get Into The Rental Market Where It Makes Sense
People will need shelter for the rest of their lives. With the life expectancy what it is here in the in the U.S., that’s a lot of rent to be paid. Buy what you need now and do it in an area where the population is on a rising and sustainable course. – Michael J. Polk, Polk Properties
5. Factor In The Fees
In real estate, there are middlemen and a lot of them — the escrow company, the title company, the brokers, the lender, etc. Each one of them is taking a drop from the well. While these fees will all likely go down, they aren’t ever going away and buyers and sellers need to accept that. – Ridaa Murad, BREAKFORM | RE
6. Buy A Home To Secure Personal Rent Control
Although the real estate market fluctuates over time, there’s one thing would-be first-time homeowners often overlook. Yes, there are tax advantages. Yes, you paint the walls any color you want. Yes, you build financial equity. But you also have a built-in rent control. With a fixed-rate mortgage, you’ll know what your house payment will be for the next 30 years — not so when you’re a renter. – Eileen Lacerte, Hawaii Beach and Golf Properties
7. Always Invest Based On Location
Regardless of the interest rate or transaction environment, good locations with strong demand and access to transportation infrastructure will continue to outperform in the long run. Location is certainly the evergreen factor telling you where to invest. Interest rates and transaction volumes are better indicators of when to invest. – Marc Rutzen, Enodo Inc
8. Find Trustworthy Partners In The Real Estate Process
In an industry that is heavily commission-based, it is very important to find and work with trustworthy and genuine individuals who will have your best interest at heart over their own pocket. – Engelo Rumora, List’n Sell Realty
9. Keep Your Home’s Condition Pristine If You’re Looking To Sell
Well-maintained houses always sell faster, even in a slow real estate market. Buyers appreciate houses that look move-in ready and are updated versus those that need a lot of work. In a hot real estate market, most houses sell quickly. But during a cooler market period, buyers can get very picky, so it will be the nicer ones that continue to sell. – Jeremy Brandt, We Buy Houses®
10. Be Selective And Don’t Be Afraid To Walk Away
The old real estate adage is true: You make your money when you buy, not when you sell. By being selective about your real estate purchases and using larger amounts of cash in the transactions, you insulate yourself from the ebbs and flows of the market. Deals don’t always work, so do not be afraid to step away. Sometimes the best investment to protect principal is no investment at all. – Blake Plumley, Capital Pursuits LLC
11. Approach Negotiations From A Collaborative, Not Competitive, Standpoint
It’s a mistake to go into real estate negotiations thinking that the other side is your adversary and to be fixated on a specific price. The goal should always be working together to come to an agreement that satisfies both parties. Digging in your heals can sabotage a negotiation. Take a step back and put yourself in their shoes. What’s a win-win for everyone? – Brad Le, Climb Real Estate
12. Find An Experienced Local Real Estate Agent
The internet has changed real estate forever. Home sellers and buyers can get more information about real estate than ever. But what they can’t get online and can only get from a local real estate agent, is that insider knowledge. That local “go-to” agent who is a neighborhood expert knows things about the homes and the community you just can’t Google. Their value will never change. – Lane Hornung, zavvie
13. Remember That A Home’s True Value Is Determined By The Buyer
No matter what the market conditions are, one aspect always remains the same — the true market value of a home is only equal to what a buyer is willing to pay. Just because a seller believes their home is worth a certain amount of money, it does not mean that the ask will be equal to what a buyer believes to be an appropriate “bid” price. – Matt Pettinelli, CapGrow Partners LLCForbes Real Estate Council is an invitation-only community for executives in the real estate industry. Do I qualify?
Forbes Real Estate Council is an invitation-only, fee-based organization for senior-level executives in the real estate industry.
5 Negotiation Tactics that can Kill a Sale
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
- Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
- Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
- “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
- Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
- Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
Top 20 Land Buyer Questions for 2018
- How is the property accessed? (Road frontage, deeded easement, etc..)
- Are there any water features on the property? Seasonal or year round (rivers, creek, lake, springs)
- Are utilities available to the property? (i.e water, electric, septic)
- What types of trees are on the property? (variety, age, planted or natural)
- Has the property been surveyed? (make sure if surveyed that it is a certified map?)
- Who are the neighbors surrounding the tract? (is Quality Deer Management in place)
- Can I get a clear title abstract to the property? (Iowa is an abstracting state)
- Do the timber, mineral and water rights convey with the sale?
- Are there any easements on the property? (adjoining owners, conservation, utility)
- Are there any known environmental concerns or latent defects with the property?
- How is this property zoned? (agricultural, residential, commercial?)
- What are the annual property taxes?
- Have the owners received notice from any governmental agency about possible assessments or actions in the near future that would affect this property?
- Will the property be conveyed subject to covenant and restrictions? (If so, what are they?)
- How does the land lay (topography)? (slopes, bottomland, elevation change, etc…)
- Are there internal roads and trails?
- Do all of the improvements to the property convey with the sale? (gates and fences, shooting houses, out buildings, etc…)
- Does the land drain well or does it stay wet for much of the year?
- If I had to sell this property again in a year, is it desirable to other potential buyers?
- Can I pee off my porch in privacy the true measure of seclusion:)?
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