Acquire Vol 14 Iss. 3

Volume 14 • Issue 3

New and Improved!

Acquire Magazine

Fox Valley Plat 2:

26 Single Family Lots Available in West Des Moines, Iowa

READ MORE ON PAGE 25

Buying a home in the next year?

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Attend the

Ultimate First Time Homebuyers Workshop for FREE (regularly $20/person)

Visit www.ultimatehomebuyingworkshop.com to register!

Use the code “magazine” when registering.

Eric J. Grubb, CCIM <<<< 515-975-7441 >>>>

eric@solidgroundiowa.com

F E AT URE D DE V E L OP ME N T S PLAT 2

TIMBERVIEW <<<< ADEL >>>>> VERONA HILLS SOUTH <<<<< CLIVE >>>>>

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• Located just 1 mile north of Hickman Ave and Alice’s Rd

• Plat 1 now available for construction!

• Waukee school district

• Now pre-selling for Summer 2014 delivery of Timberview Plat 2

• 70’, 75’, and 80’ lots priced from $50-$70k’s

S S S

S SS S S S S

• Berkshire Drive from Hickman all the way to Alice’s Rd now open!

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•

Plats 1, 2 and 3 Available!

• 70’-75’ lots with several walkouts backing to timber • Directly south of ADM High School, all City services •

LEDGESTONE <<< ANKENY >>>

7 Year 100% Tax Abatement!

• Just west of Otter Creek Golf Course in NE Ankeny • Plats 5 and 6 now available

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• Plat 7 Summer of 2014 • NE Ankeny school district

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LD

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SO

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• 65’-70’ lots with just 5’ sideyard setbacks, priced from the low $40’s • 36th St I-35 Interstate Exit NOW OPEN!

Where “More is More”

A

rtesa Homes offers outstanding design and quality construction. A family-owned business, believing that every home built should be unique to you.

• A proposed new home being built in Enclave on Ashworth in WDM • 6 building lots available at Ashland Ridge in Ankeny • Ranch and 2-story home available at Westown Meadows in Waukee, prices starting at $315,000 Call Michele today for more info!

Michele Cheek COLDWELL BANKER ANKENY 2425 N. Ankeny Blvd. | Ankeny, Iowa 50023 Ph: 515-224-8672 | Ce: 515-240-0422 Michele.Cheek@ColdwellBankerMAG.com

Like us on Facebook

www.ArtesaHomesIowa.com www.ArtesaHomes owa.com

“First American made our home purchase truly a dream come true.”

Tracy Frette Mortgage Originator NMLS #488049

515-224-8762 tracy.frette@bankfirstamerican.com

Apply Online www.mortgage.bankfirstamerican.com acquire magazine

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Developers Realty Group Madison County M • • • • •

Fox Valley Plat 2

F Farms ffor V Veterans t 2014 Farm Bill Beginning Farmers Special Financing 10 Farms Ranging From 20-40 Acres

Fox Valley Plat 2 F • • • •

26 single i l family f il lots l t available il bl Norwalk School District Access to Great Western Bike Trail West Des Moines, Iowa

200 Premium Farm Acres 2

85 Acres Acreage e • 4b bedroom d h home • Winterset, Iowa

• Warren County’s newest multi-use zoning featuring high traffic count, economic incentives • Mini farms, sustainable acreages • Multi-family • All utilities on site • Priced to sell!

• All or part ideal 1031 parcels

Dorrance Brezina 3227 111th Street Urbandale, IA 50322 C: 515-778-0787 O: 515-278-2741 dorrance_brezina@msn.com

www.DevelopersRealtyGroup.com 4

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INSIDE THIS ISSUE

BUYING OR SELLING? We can help

Whether you’re looking to buy your first home or you have your eye on a house with room to grow, VisionBank has the best mortgage lenders with competitive rates and flexible terms to meet your needs.

Letter from the Editor

6

Ground Breaker Breaking Ground in Central Iowa New Construction Market

9

Quarter 1 Finishes With Another Increase In Sales Price

21

Potential Exists for Overbuilding

22

Colby Interests: Fox Valley Plat 2

25

1031 Like-Kind Exchanges: An Exceptional Tool for Real Estate Investors

28

Choosing a Reputable Home Building/Remodeling Contractor

30

What It Takes To Be a Home Builders Association Home Builder

34

Protecting Yourself in a Construction Project Gone Wrong

38

Financing Your New Construction Home– Easier Than You Think

42

Social Media: Targeted Relationship Building for Real Estate Agents, Construction Pros

46

We offer: • • • •

Online Applications Local loan servicing Speedy loan approvals Low closing costs

To get started, call us at 515-986-5746 or visit us online at VisionBank.com/Mortgage acquire magazine

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LETTER FROM THE EDITOR

The New and Improved

Acquire Magazine It is my pleasure to welcome you to the new and improved Acquire Magazine–complete with a fresh logo, new look and articles, plus improved printing and distribution. Yes, of course, the printed magazine is still free to pick up at several stores and businesses throughout the metro, but we’ve now added over a hundred new locations. And even better yet, we’re also digitally delivering each new issue to your email inbox.

Just go to our website to sign up... it’s FREE! Speaking of our website, it’s received a fresh makeover as well. The new site, www.AcquireMagazine.com, is up and running and always features the latest issue of Acquire Magazine front and center. Flip through the dynamic version of the magazine on your laptop, smart phone, or tablet; we’re mobile-friendly!

Past issues of Acquire, advertising rates, and a link to our Facebook page can also be found on the new website. Be sure to check it out!

Moreover, check out this current issue! It’s our biggest yet and filled with informative articles, feature stories, and several new advertisers. See more on Colby Interests’ Fox Valley Plat 2 on page 25, a ‘how to’ article on financing your new construction home on page 42, and social media for real estate and construction professionals on page 46.

The theme for our next issue, due out in July, will be the HomeShowExpo.

So if you’d like to be a part of that popular issue, don’t hesitate to contact us. Advertising in Acquire is easy, affordable, and you can personally work with the designer (me) to make sure you’re getting the most out of your advertisement.

Finally, thank you for taking the time to read through this newest issue of Acquire. We hope you enjoy the improvements we’ve made, and we’ll continue to make it bigger and better for you, the reader.

Erin Larsen Erin Larsen Editor in Chief 6

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AcquireMagazine.com Volume 14, Issue 3 Editor in Chief Erin Larsen Contributing Writers Dave Brown Steve Bruere Phil Bubb Creighton Cox Rachel Delzell Colin King Amy Lucht Todd Razor

Published by Acquire Magazine, LLC For advertising information contact Erin Larsen at 515-650-0834

Publisher’s Notice: All advertisements for the sale, rental, financing, appraisal, & insurance of residential properties is subject to the Fair Housing Act, which generally makes it unlawful to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, national origin, handicap or family status. Acquire Magazine will not knowingly accept any advertising for the sale, rental, financing, appraisal, or insurance of residential properties that include any unlawful preference, limitation, or discrimination.

Cover photo by: Todd Razor, Three Razors Media

PEOPL ES CO MPA N Y

APPR A ISALS

WO N D ER I N G W H AT YOU R L A N D I S WO R T H? PEOPLES COMPANY employs a network of real estate appraisal professionals and consultants ready to provide you with an accurate property valuation for a variety of purposes and specializing in sales and transfers of real estate, mortgage financing, investment analysis, internal asset valuation, divorce settlement, estate planning,

APPRAISALS

acquisition and condemnation, litigation and property tax appeals.

*Appraisals completed by Peoples Company conform to the Uniform Standards of Professional Appraisal Practice (USPAP) approved by the Appraisal Foundation and are in compliance with Title XI of the Financial Institutions, Reform, Recovery, and Enforcement Act (FIRREA) of 1989.

Our dedicated team of appraisers utilizes the most up-to-date technology available to stay current on market trends and to better serve our clients while maintaining best-in-class quality products and services. With a highly skilled staff licensed to conduct property valuations, Peoples Company has a comprehensive real estate database, as well as experienced personnel that instill confidence in our clients.

To inquire about conducting an appraisal or retaining the services of a professional licensed consultant, contact Peoples Company at 855-800-5263 today or email Appraisal@PeoplesCompany.com for additional information.

12119 Stratford Drive, Suite B Clive, Iowa 50325

www.PeoplesCompany.com

855.800.LAND acquire magazine

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THE

POWER

Real estate or construction pro?

TO ACHIEVE ENERGY EFFICIENCY AT A HOME

Expand your digital footprint.

Call 515.953.8247 MidAmerican Energy Company puts the power of energy efficiency to work for our residential customers. Through our EnergyAdvantage® programs, the cost of becoming energy efficient is more affordable. MidAmerican Energy provides rebates on approved residential equipment such as furnaces, air conditioners and water heaters. MidAmerican Energy can help you save some green through greater energy efficiency.

Contact us to learn more about EnergyAdvantage programs.

Check us out!

Don’t Forget...

Acquire Magazine is also available to view online. Just visit our website and click on the dynamic version.

www.AcquireMagazine.com

Like Us on Facebook...

Acquire Magazine is on Facebook too!

Check out all our latest photos and news and join our email list!

Facebook.com/AcquireMagazine

800-894-9599 www.midamericanenergy.com/ee 8

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Or call for more info...

Erin Larsen, Editor in Chief: 515-650-0834

Ground Breaker Breaking Ground in Central Iowa New Construction Market The Clive-based company aims to keep the homebuilding process

Ground Breaker Homes is breaking into the new home market with a brand of new construction that centers on delivering spec and build-to-order models with an extraordinary attention to detail and options for homeowners to select everything from paint colors to finishes, based on individual preferences.

moving affordably and efficiently for buyers in Greater Des Moines and Central Iowa with an ample offering of lots, floor plans and styles of new construction single-family homes.

Sixteen standard floor plans make up Ground Breaker’s existing collection, comprising various elevations and including ranches, 1.5-story plans and two-story plans. Kalen Ludwig, a REALTOR® and Certified New Construction Sales Professional involved in the marketing and decision-making behind Ground Breaker’s efforts, says buyers considering a new construction home appreciate the opportunity to select a development, floor plan and price point that meets their specific needs.

By setting the stage for high-quality selections while narrowing an array of options into manageable touch points, Ludwig says, Ground Breaker allows buyers to mix and match various aspects of colors and finishes to complement any style, but without the cost or complication often associated with the process of building a custom home.

From its Ranch Select to the Lexington, the Prairie Setter and Trend Setter Deluxe plans, Ground Breaker takes into account everything from carpeting to paint colors, countertops, trim pieces, hardwood and hardware while offering options to suit individual tastes without overwhelming people with too many choices. That keeps the building process moving along efficiently and affordable in desirable Central Iowa neighborhoods, Ludwig says.

Story by Todd Razor, Three Razors Media acquire magazine

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Ground Breaker Homes “The systems we’ve put in place help keep everything organized,” Ludwig says. “I help buyers through the homebuilding process, walking them through everything from lot selection to choice of floor plan and any alternations. Not only has Ground Breaker eliminated the hassle of making potentially complicated selections by hiring a professional designer, we also offer advice on timing, financing and the sale of a client’s existing home.”

Ludwig, whose efforts are geared toward working with the real estate community to meet the needs of both buyers and sellers in and around the Des Moines metro-area market, says Ground Breaker is active in five local communities, including The Grove in Ankeny, Orchard Hills in Norwalk and Deer Creek in Indianola, as well as Bluestem and Stone Prairie in Waukee. She says the company builds primarily in communities by Diligent Development, which is focused on assembling residential real estate in desirable neighborhoods near highly sought after school districts and metro-area thoroughfares.

KALEN LUDWIG Director of Sales and Marketing

“Our relationship with Diligent Development gives us access to the quantity and quality ground required to meet the expectations of our customers amid low levels of housing lot inventories,” Ludwig says.

In July 2014, an original Ground Breaker Prairie Setter II floor plan will be featured as part of the Home Builders Association of Greater Des Moines’ 2014 Home Show Expo at The Ridge at Echo Valley in Norwalk. Expo-goers can tour the new 5,000-square foot home featuring five bedrooms, a gourmet kitchen, a luxurious main-level master suite with a custom master bath, a sunken movie theater and bar on the lower level, and other stylish touches including contemporary built-ins, a loft space and sleek office finishes.

Ground Breaker has invested heavily in the development and publication of warranty binders, including an explanation of the builder’s workflows, warranty agreements, tips on subjects such as lawn care, and a guide for first-time homebuyers. In addition to a oneyear limited warranty offered by Ground Breaker, Ludwig points to an HSA Protection Plan covering years “two through four” and intended to close a so-called “protection gap” between parts and labor in the new construction home market.

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GRANT CROW Project Manager

“I help buyers through the homebuilding process, walking them through everything from lot selection to choice of floor plan and any alternations.”

KALEN LUDWIG Director of Sales and Marketing

Each Ground Breaker model, Ludwig says, is delivered “smart home ready” – via the builder’s partnership with A-Tech Inc. – and pre-wired for the addition of home security, entertainment and automation systems, including a setup for the installation of surround sound components in floor plans with a finished lower level. In addition the select features found in Ground Breaker’s standard floor plans or the versatility of a build-to-order home, the company offers custom building services for those seeking an entirely ground-up approach to homeownership in the Greater Des Moines area.

“We want to build the best quality houses we can,” says Grant Crow, a Ground Breaker project manager who spends his days managing schedules, meeting deadlines and taking a hands-on, quality control approach to working with contractors and finish workers. “Everyone stays busy to move the process along as fast and efficiently as possible without sacrificing quality.

From modifying plans as necessary to satisfy the expectations of a customer, to watering the sod and ensuring all job sites are clean and clear of debris, our goal is to make sure what we deliver is the house of their dreams.”

Ludwig, who compiles and publishes quarterly data and statistics about the Des Moinesarea housing market, says she believes listening and providing credible feedback to buyers, sellers and builders helps everyone make more informed decisions regarding real estate transactions. She says Ground Breaker welcomes opportunities to work with other REALTORS on behalf of buyers and sellers, just as it has in forming trusted business relationships with qualified subcontractors and vendors to ensure new homebuyers walk away with a high quality, competitively priced product.

The Social Side of Ground Breaker Homes REALTOR® Kalen Ludwig says Ground Breaker Homes emphasizes the ongoing development of its modern website and social media presence to effectively communicate and engage with clients and prospective homebuyers active on sites such as Facebook, Twitter and LinkedIn. In addition to posting each of Ground Breaker’s open houses and special events on its Facebook page, Ludwig stays in touch with readers and followers on sites such as Twitter and LinkedIn, informing the real estate community via the publication of market data and housing statistics.

Ground Breaker also uses the photo-sharing service Instagram to post images of new construction. Houzz.com allows the company to share home design and decorating ideas for digital-age audiences in Greater Des Moines, as well as those considering a move from the other side of the state or globe.

“Social media provides us with another avenue to listen to and interact with our audiences,” Ludwig says. “For us, sites such as Facebook and Twitter go far beyond talking at people. These outlets allow us to pay closer attention to our customers in near-real-time, adding a personal touch as we share visual representations of the open floor plans, stunning color palates, beautiful finishes and other details associated with various styles of modern homeownership.”

“We are a professional builder with a superb reputation in Des Moines and Central Iowa,” Ludwig says. “We are dedicated to customer service throughout the construction, closing and post-purchase process. We also understand how to manage all the pieces of the construction process to ensure the best possible outcome for our homebuyers.”

To view photo galleries of the GBH home plans, please visit www.GroundBreakerHomes.com and go to Home Collections. Or use your smart phone and scan the QR code to the left.

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Ground Breaker’s 2014 HomeShow house in Norwalk.

• 5,049 Square Feet • 5 Bedroom • 5 Bath • Amazing view of downtown skyline • $950,000

The R idge at Echo Valley 3037 PRAIRIE ROSE DRIVE, NORWALK

Transit ional Style 1.5- Story

A modern exterior, barrel entryway and stunning views of the Echo Valley Golf Course and Downtown Des Moines will welcome 2014 Expo-goers to this five-bedroom, fivebathroom home with 10-foot ceilings, an easy and open fl oor plan, and abundance of natural light. The Ground Breaker Prairie Setter II fl oor plan includes 5,049 square foot of beautiful and efficient living space, featuring a luxurious main-level master suite and one-of-a-kind master bath complete with an elegant whirlpool, convenience of a dual-entry shower and separate entrances complementary to his and her styles.

Amazing built-ins including sleek office fi nishes are found throughout the home and a 21-foot coffered tray ceiling provides the perfect ambiance for gatherings in the family room. The home offers a contemporary gourmet kitchen with a stylish cabinet collection and oversized pantry with sliding ladder. There is a built-in wine wall in the dining room, which has a tray ceiling to complement the kitchen. The Prairie Setter II fl oor plan includes washer and dryer on two levels with the second level also featuring bedrooms with Jack & Jill-style bathrooms, and a loft space. The lower level boasts a sunken movie theater area and sunken bar with the convenience of a serving window to the outdoor living space.

12119 Stratford Dr, Ste B | Clive, IA 50325 515.309.0703 | info@groundbreakerhomes.com www.GroundBreakerHomes.com

Scan the QR code to follow along with our progress on the house

Kalen Ludwig, REALTOR ® Certified New Construction Sales Professional 515.402.3169 | Kalen@PeoplesCompany.com

www.PeoplesCompany.com

Special Thanks

TO OUR SUBCONTRACTORS

Foundation

Framing

Windows Gumm Electric

Artistic Iron Works Coffman Glass Dwell Home Furnishings GW Gutter Service Company Riverbend Painting

Come visit the HomeShowExpo 2014 at The Ridge at Echo Valley: July 12-13 | July 17-20 | July 24-27

FULL SERVICE PLUMBING CONTRACTOR Commercial | Residential | New Construction

515-205-2805 carrollplumbingllc@gmail.com Find us on Facebook 14 |

acquire magazine

For all your plumbing needs.

Call for a free quote today!

MADDEN CONSTRUCTION 4th Generation Building Quality Affordable Homes Madden Construction has buildable lots in Norwalk (Legacy), Des Moines (Three Lakes Estates) and various other areas to build custom homes on.

DES MOINES - NORTHEAST Similar to Photo

1310 E 27th St. $137,900 Fairmont Plan 1550 sq. ft. | 3 bed | 2 bath

All New Homes Feature:

To see more layouts and listings please visit our website www.MaddenConstruction-Realty.com

DES MOINES - THREE LAKES ESTATES

SOLD

7014 Three Lakes Pkwy SOLD Cambridge Plan 1369 sq. ft. | 3 bed | 2.5 bath Similar to Photo

Similar to Photo

2817 Sweetwater $173,900 Cambridge Plan 1369 sq. ft. | 3 bed | 2.5 bath Under Construction Now!

ting Star uction r st con soon!

2821 Sweetwater $176,900 Merritt Plan 1438 sq. ft. | 3 bed | 2.5 bath Under Construction Now! 7112 Three Lakes Pkwy $178,900 Merritt Plan-Walkout 1438 sq. ft. | 3 bed | 2.5 bath

• H.E.R.S. Rated for Top Performing Energy Efficiency • High Efficiency HVAC System • High Efficiency, Award Winning Windows by Simonton • Exterior Walls Filled with Blown-in Cellulose Insulation • Spacious Kitchens with Pantry • Vaulted Ceilings • Easy to Finish Basement with Bath Stub • Passive Radon Mitigation

Ask about special financing options through our preferred lender, Wells Fargo Home Mortgage

Legacy Pointe Plat 1 and 2 lots are all gone!

Contact us today to get started on your new home in Plat 3!

Legacy Pointe Plat #3 Norwalk, Iowa SPRING 2014 2889 Park Place: $168,900 Cambridge Plan 2891 Park Place: $172,900 Merritt Plan

JASON J BEARD Home Mortgage Consultant NMLSR ID 8509 515-237-5435 www.jbeard.com Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2012 Wells Fargo Bank, N.A. All rights reserved. Equal Housing Lender. NMLSR ID 399801 AS998507. Expires 12/2013.

2876 Jaden Lane: $169,900 Ashby Plan-Daylight 2878 Jaden Lane: $170,900 Cambridge Plan-Daylight

Sample Homes

2879 Jaden Lane: $178,900 Merritt Plan-Walkout

5909 Grand Avenue | Des Moines, Iowa 50312

Todd Madden 710-4226 Rick Madden 710-4227 515-255-1557

www.MaddenConstruction-Realty.com Equal Housing Opportunity

Merritt Plan

Cambridge Plan

Ashby Plan

Ask Madden Construction about the new homes with 5 or 10 year tax abatement! acquire magazine

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BROOKE RIDGE WEST GRIMES The warmer weather brings construction on our new plat in north Grimes! Blocks from schools yet with an open country feel, Brooke Ridge West offers great lots at $60k-$100k.

Lots available or build with Newblood Homes!

NEWBLOOD DEVELOPMENT:

an aggressively growing real estate development company in the Greater Des Moines Area.

We pride ourselves on blending cutting edge design and top of the line quality, all for an

S

!

D OL

16749 VERONA HILLS DRIVE CLIVE Brand new Verona plan on lot 4 within Verona Hills South, a walkout with a gently sloping backyard. 5 bed, 3 bath with a huge lower level living/rec room and full bar with game area. Tons of light and top of the line finishes.

Response to this plan has already lead to a beautiful custom, bring us your lot!

16629 MAPLE STREET CLIVE Move in ready! This Bennington 2 story plan with 2400 square feet has all the upgrades and features that make this a quality Newblood Home. Great walkout lot blocks from Shuler Elementary make this a great place for your growing family! $389,900

16811 PRAIRIE DRIVE CLIVE Brand new Chaparral ranch plan with 2640 feet finished on a great walkout lot. Waukee schools and located in the desirable Verona Hills South neighborhood, call now to personalize this home for a late summer move in! $399,900

affordable price.

Single Family Homes Custom Homes Townhomes & Condos Land Development Commercial Build to Suit Construction Management

Eric Grubb, CCIM 515.975.7441 Eric@NewbloodDevelopment.com

Jeff Stanbrough, CCIM 515.202.6649 Jeff@NewbloodDevelopment.com

Jen Stanbrough 515.371.4814 jen@jenstanbroughrealestate.com jen@jenstanbro oug ughr hrealestate.com

Similar to Photo

w w w. n ew b l o o d d eve l o p m e n t .c o m acquire magazine

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Listing #11358

419 PINE AVENUE, NORWALK

CURRENT

Style Setter III | 1,720 SF | $264,900

Inventory

Investing in a home by Ground Breaker Homes comes with the assurance of retaining a residential company that demonstrates a steadfast commitment to homeowners in Greater Des Moines. Our standard floor plans feature high-quality amenities and build-to-order homes are constructed with

Listing #11103

extraordinary attention to detail. From the Style Setter to the Ranch Executive, each Ground Breaker project is competitively priced and includes a comprehensive

1012 NW ABBIE DRIVE, ANKENY

Ranch Classic Series | 1,533 SF | $274,900

warranty that adds to the peace and security of owning a new home. At Ground Breaker, weâ&#x20AC;&#x2122;ll walk you through the process of selecting the right development, the right plan and the right price point to achieve your goals.

Listing #11426

621 SYCAMORE DRIVE, NORWALK Style Setter Deluxe | 1,941 SF | $284,900 18 |

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THESE FLOOR PL ANS

Coming Soon

TO STONE PRAIRIE ORCHARD HILLS AND THE GROVE

Listing #11436

145 TRILLIUM DRIVE, WAUKEE

Ranch Classic Series | 1,533 SF | $300,000 To view photo galleries of these plans and others, please visit www.GroundBreakerHomes.com and go to Home Collections.

Listing #11438

1011 NW ABBIE DRIVE, ANKENY Style Setter | 1,748 SF | $250,000

Kalen Ludwig, REALTOR 速 Certified New Construction Sales Professional 515.402.3169 | Kalen@PeoplesCompany.com

www.PeoplesCompany.com

Listing #11435

1116 NW ABBIE DRIVE, ANKENY

Ranch Classic Series | 1,533 SF | $265,000

12119 Stratford Dr, Ste B | Clive, IA 50325 515.309.0703 | info@groundbreakerhomes.com www.GroundBreakerHomes.com acquire magazine

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Loans for every phase of home construction q 4IPSU UFSN NPSUHBHFT q -PU MPBOT q -POH UFSN ĐŻYFE SBUF NPSUHBHFT q #SJEHF MPBOT q $POTUSVDUJPO MPBOT Call Bryan today about customizing a loan program to meet your speciďŹ c needs. Heâ&#x20AC;&#x2122;ll tell you about State Savings Bankâ&#x20AC;&#x2122;s competitive rates and low down-payment options.

WEST DES MOINES 4800 MILLS CIVIC PARKWAY, SUITE 100 WEST DES MOINES, IOWA 50265

Bryan Rowland

RELATIONSHIP MANAGER (515) 457-9533

Supporting existing businesses Advocating for growth Developing infrastructure Cultivating leaders & workforce

Warren County Economic Development Corp.

111 N. Buxton St. | Indianola, IA 50125 | 515.961.1067 | www.wcedc.com 20 |

acquire magazine

HOUSING TRENDS REPORT

QUARTER 1 FINISHES WITH ANOTHER INCREASE IN SALES PRICE

Amy Lucht, Communications Coordinator Iowa Association of Realtors® amyl@iowarealtors.com

IOWA ASSOCIATION of REALTORS®

CLIVE, IOWA (April 15, 2014) - The latest report from the Iowa Association of Realtors® (IAR) shows that home sale prices continued to increase across Iowa.

According to IAR’s March 2014 Housing Trends Report, home prices increased by 1.7 percent from last year at this time. The average sale price was $143,565 in 2013 and $146,059 in 2014. Median Sales Price showed no change, staying at $125,000.

Twenty-six local Realtor® boards reported increases in sales price.

The number of sales decreased statewide; dropping 16.2 percent from last March.

The report indicates a total of 2,300 homes sold/closed in March 2014, while 2,743 homes sold/closed in March of 2013.

Days on the Market (DOM) improved as homes sold 4 days faster than this time last year. The average number of days on the market in March was 101 days, down 3.8 percent from last March. Twenty-nine local Realtor® boards reported a decrease in the average number of days on the market.

The information used to create the March 2014 Housing Trends report was current as of April 10 at 11:05 a.m. The information is subject to change due to the dynamic nature of the IAR’s housing statistics system, which is updated hourly based on information present in local participating MLS (multiple listing service) systems.

The term REALTOR® is a registered trademark, which identifi es real estate professionals who follow a strict code of ethics as members of the National Association of REALTORS®. The Iowa Association of REALTORS® is the state’s largest real estate professional organization representing more than 6,400 members and affi liates. The IAR releases a Housing Trends Report each month. Data is collected from local REALTOR® boards through their multiple listing service (MLS), which tracks sales activities in the board area. The IAR compiles all of the local board data into the statewide report each month. Reports are available online to IAR members and affi liates with a login and password. Anyone is eligible to become an IAR affi liate. For membership information, visit www.iowarealtors.com.

Kathy Miller, IAR 2014 President reflects on the stats by saying, “The inclement weather we’ve experienced this winter, has unquestionably affected Iowa’s home sales. Hopefully with warmer weather in sight, sellers will be able to get their homes market-ready, and buyers will be more inclined to start packing.”

As expected, Q1 Sales are down slightly over last year. In Q1 2013, sales were 6,571, and in Q1 2014, sales were 6,041; a decrease of 8 percent. Price however, showed an increase of 2.3 percent, going from $140,590 in Q1 2013 to $143,859 in Q1 2014. Days on the Market (DOM) also decreased by 3.8 percent, or 4 days. acquire magazine

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POTENTIAL EXISTS FOR

OVERBUILDING

C

entral Iowa’s economy has been robust, with several major economic development projects landing in the region, along with numerous headlines about national rankings.

Iowa’s diversified economy combined with the strong agricultural economy has helped boost the recovery of home building and development activity locally. The fiscal policies

introduced to help the national economy have been a boon for Central Iowa, where the economy rebounded quickly following the 2008 recession.

With a growing population and low unemployment rate, developers and builders have started to come back to the market. In many cases, we are approaching the peak numbers of the 2005 building boom.

Steve Bruere is President and Owner of Peoples Company.

Follow Steve Bruere @SBruere on

Since 2008, Peoples Co. has been following building permit activity, final plats and sales of new-construction homes in the 18 communities that make up the Des Moines metro area.

on Facebook for the latest land listings, auction results, upcoming

In 2013, development activity shifted back into high gear: 93 new plats were developed

events and real estate news. Steve

throughout the area, resulting in 2,301 new lots, compared with 1,283 lots the year before.

can be reached at 855-800-LAND

Building permits jumped from 1,837 to 2,187 in 2013.

or Steve@PeoplesCompany.com.

While this all sounds bullish, perhaps more interesting is the fact that sales of newconstruction homes increased just slightly to 1,253 in 2013, compared with 1,192 the year before. That resulted in 61 additional new home sales, compared with the 2,187 lots that were developed. If this same level of development activity continues along with the same level of new construction activity, it could result in an overbuilt market.

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Twitter and fi nd Peoples Company

acquire magazine

The positive news is that the total number of homes for sale is well below

were 1,284, or 76 percent of the peak number in 2005, demonstrating

its peak level. A total of 7,706 single-family homes were sold in Greater

that this level of development activity will be difficult to maintain over

Des Moines in 2013. There are currently only 2,459 single-family homes

a sustained period.

on the market, equating to a 3.9-month supply. Again, for comparison

There were 1,693 new-construction homes sold in 2005. In 2013, there

sake, there were 7,935 single-family house sales in 2005, compared with Dig deeper into the numbers and you find some interesting statistics.

7,706 in 2013, signaling that the market has bottomed out and we are

There are five new-construction communities in Greater Des Moines

now in a seller’s market.

(Ankeny, Clive, Urbandale, West Des Moines and Waukee) representing 66 percent of the new-construction market. In these markets, there are

Time will tell how this will all play out in Greater Des Moines. We

only 16 new homes for sale under $225,000. Another notable stat is that

are certainly enjoying some significant economic growth, and there

the average price of a newly constructed home in 2010 was $229,000. In

certainly isn’t an oversupply of single-family homes. If low interest rates

2013, the average price of new-construction houses sold throughout the

remain the norm, economic development activity continues, and banks

Des Moines area was $294,000. That’s an increase of $65,000 over the

and builders refrain from overdoing it, we should enjoy a robust market

past four years.

for several years.

Most of this price increase comes from increased lot prices, labor and

Builders and developers will need to pay attention to the entry-level

material costs. Although this is a positive for the townhome and condo

price point to keep the momentum going as the development and

market, as well as the rental market, we are concerned that the entry-

banking community collectively monitors inventory levels, so we don’t

level price point for new construction is going to become too high and

overbuild or over develop.

new construction could price itself out of business. If entry-level homes become too expensive, it will ultimately affect people’s ability to move up, further slowing construction activity.

As the old saying goes, the best cure for high prices is high prices. *First appeared in the Business Record

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Custom web and print design solutions You Dream It. We Design It. Over the years we have successfully helped builders and real estate agents throughout the Des Moines metro area with their web and print marketing needs.

Providing services for any industry, EDJE can help increase awareness for your business or organization.

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Industry Clients Orton Homes | Peoples Company | Kim Layland Karey Bishop | Meadowbrook Builders

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R E A L

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l ai Tr ke Bi rn te es tW ea Gr

Fox Valley

• West Des Moines • Lots Starting at $56,180 • Fiber to the Home • Norwalk School District • Access to Great Western Bike Trail

PLAT 2

Call 515-274-3411

North

Plat 2

for more information

Plat 1

SOLD

515-274-3411 | www.colbyinterests.com 6581 University Avenue| Windsor Heights, IA 50324

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| 25

L A N D FO R SALE

CANNON CLARK 515-650-3950 Cannon@PeoplesCompany.com

STEVE BRUERE 515-240-7500 Steve@PeoplesCompany.com

LISTING #11778 ACRES:

LISTING #11745 ACRES:

110.00 acres

80.00 acres

PRICE:

PRICE:

$495,000

$280,000

COUNTY:

COUNTY:

Warren

NEW VIRGINIA, IA

Madison

LISTING #11596 ACRES:

ACRES:

562.50 acres

PRICE:

PRICE:

$1,673,750

$1,968,750

COUNTY:

COUNTY:

ALTOONA, IA

Cannon Clark: 515-650-3950 | Steve Bruere: 515-240-7500 26 |

LISTING #11555

103.00 acres

Polk

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WINTERSET, IA

Appanoose

PROMISE CITY, IA

www.PeoplesCompany.com

L A N D L I S T I N GS LISTING #11503 ACRES:

LISTING #1865 ACRES:

386.00 acres

51.10 acres

PRICE:

PRICE:

$1,601,900

$182,500

COUNTY:

Clarke

COUNTY:

OSCEOLA, IA

Madison

LISTING #11399 ACRES:

LISTING #11297 ACRES:

24.00 acres

10.70 acres

PRICE:

PRICE:

$165,000

$79,900

COUNTY:

Warren

COUNTY:

MARTENSDALE, IA

Warren

LISTING #10917 ACRES:

LISTING #11158

6.40 acres

PRICE:

PRICE:

Negotiable

$75,000

COUNTY:

COUNTY:

OSCEOLA, IA

Warren

LISTING #10898 ACRES:

ST. MARYS, IA LISTING #1717

ACRES:

168.00 acres

52.00 acres

PRICE:

PRICE:

$1,167,600

$469,000

COUNTY:

COUNTY:

Dallas

INDIANOLA, IA

ACRES:

75.00 acres

Clarke

EAST PERU, IA

VAN METER, IA

Cannon Clark: 515-650-3950 | Steve Bruere: 515-240-7500

Polk

BONDURANT, IA

www.PeoplesCompany.com acquire magazine

| 27

1031 LIKE-KIND EXCHANGES: AN EXCEPTIONAL TOOL FOR REAL ESTATE INVESTORS

O

ver the past six months, efforts to overhaul the federal tax code have shifted into high gear.

Proposals have emerged from both the Senate Finance and the House Ways and Means Committees designed to gut the tax code and create a simpler, fairer taxation framework.

While little argument exists that our tax code is broken, many sections of the tax code work exceptionally well, including Internal Revenue Code Section 1031. Section 1031 allows real estate investors to roll over gains when they sell investment properties and reinvest in qualifying replacement real property assets. Th is process is commonly referred to as a Section 1031 or “like-kind” exchange. In both the Senate and House proposals, Section 1031 has been targeted for elimination.

Having been enacted in 1921, Section 1031 has served as one of the most effective, longest standing tax code provisions. It has stood the test of time through multiple tax code revisions.

The premise behind Section 1031 is that taxpayers should be allowed to roll over gains as long as they continue to invest in other real property assets. This is due to the inherent illiquid nature of real property investments and the fact that real estate serves as such a critical driver of our economy. For nearly a century, Congress has recognized that investment real property ownership and reinvestment should be promoted and taxpayers should not be held hostage out of the fear of the tax consequences of selling.

Dave Brown is President of IPE 1031, a company specializing exclusively in providing qualified intermediary services for Section 1031 exchange transactions. In this capacity, IPE 1031 assists with planning and structuring the exchange transaction, provides detailed and customized documentation to ensure strict compliance with IRS regulations, holds sale proceeds and

Examples of properties that can be exchanged under Section 1031 include rental houses, apartments, raw land, farms and ranches, office buildings, retail centers, industrial properties, vacations homes (under very limited circumstances), and any other real property that is “held for investment or used in a trade or business.” To successfully accomplish a like-kind exchange, well-defined rules and requirements must be met, including utilization of services of a qualified intermediary in most instances.

While endeavors to simplify the tax code are well intended, the proposals for repeal of Section 1031 have the potential to have a devastating impact on the real estate market and the larger overall economy. Scores of opinion leaders, real estate professionals, industry associations and other stake holders have all cautioned that elimination of Section 1031 would hit the real estate economy hard and have a dramatic negative impact on real estate owners and investors. A quote from one news publication said it well: “Whoa. Don’t throw out the 1031 baby with the nasty tax code water . . . . Without tax deferment, many sellers won’t sell.” NewsOK, December 14, 2013. While it is clear that Washington D.C. is in gridlock, this might be one reason to hope it isn’t soon fi xed to allow time for Congress to come to its senses.

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assets in trust as required under Section 1031, and serves as a complete exchange resource to taxpayers and their advisors.

Dave can be reached at (888) 226-0400 or dbrown@IPE1031.com.

$75,000

4701 Woodland Ave. #1

$79,500

4749 Woodland Ave. #3

Noelcrest Condos: West Des Moines Each condominium has:

• • • • • •

2 bedrooms 2 bathrooms dining room laundry room 1 car detached garage patio and extra storage!

$78,500

4809 Woodland Ave. #8

$245,000 7955 Wistful Vista Dr. #50, WDM Detached ranch townhouse in Bridgewood, fi nished walkout, >2700 sq. ft. fi nish

$169,500 2301 61st St., Des Moines 3 BR, 2 BA ranch, 1100 sq. ft.

2 car attached garage

Wayne Halbur, Agent Office: 515-453-7478 Cell: 515-240-2703 whalbur@bhhsfi rstrealty.com www.waynehalbur.bhhsfi rstrealty.com

$149,000 3005 E. Diehl Ave., Des Moines 4 BR, 2 ½ BA, 2 Story 2 car attached garage

$76,500

4833 Woodland Ave. #3

$119,000 909 Red Hawk Way SE, Altoona 2 BR, 2 ½ BA, 2 story townhouse, 1397 sq. ft.

2 car attached garage

$169,500 6701 Northview Dr., Des Moines 3 BR, 2 ½ BA, 2 story, 1st floor laundry 2 car attached garage

Melanie Porter, Agent Office: 515-453-7513 Cell: 515-490-4944 mporter@bhhsfi rstrealty.com www.melanieporter.bhhsfi rstrealty.com

Berkshire Hathaway HomeServices First Realty 5500 Westown Pkwy, #120 West Des Moines, IA 50266 acquire magazine

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The Homebuilders Association of Greater Des Moines is comprised of nearly 500 member companies of which nearly 200 are Builders or Remodelers. Having been a proud member of the Association for over 17 years, I take pride in recommending members of the HBA. Just a few reasons you should choose a Homebuilders Association of Greater Des Moines member for your building/remodeling or remodeling project:

•

Our members are part of an association that connects them to a wide network of industry-related professionals. These relationships foster communication which brings about expanded ideas and innovation.

•

Members are dedicated to providing their customers with the highest quality products and services available and have a genuine interest in the Greater Des Moines community.

•

HBA members have the opportunity to attend classes and seminars to earn designations, all of which increase their knowledge and make them reputable builders/remodelers.

•

The HBA of Greater Des Moines keeps members up-to-date on the latest trends, products and techniques and notifies them of any changes to local building/remodeling codes.

•

First, it is recommended that you check into their credentials. You should begin by asking these questions of the contractor. A good, reputable contractor will be proud to answer these questions and requests and will do so with confidence, so do your homework!

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1. Can they give you more than five references with phone numbers? Ten would be better, and you should call all of them. Was the contractor organized and did they communicate well and in a timely fashion? What warranty does the contractor offer and for how long? Finally, were they happy with the overall experience and would they recommend this contractor to you?

2. Can they give you at least five character, credit references? Bank, Chamber of Commerce, Realtor, Suppliers, etc. are critical references.

3. What about their education? How up to date are they on the latest technology and construction techniques? If you hire a contractor “whose done it that way for years” you can expect problems.

Moisture and air leakage, mold, and structural failure are some of the most serious problems.

Contractors that invest in training are the ones who are dedicated to doing the best work and you, the homeowner will benefit from that training. (www.eeba.org) 4. Ask about their professional affi liations. The NAHB (National Association of Homebuilders) is the largest nationwide professional organization for homebuilders and remodelers.

5. Ask if they carry and will provide you with proof or a certificate of insurance. It is extremely important that the contractor carry General Liability and Worker’s Compensation Insurance as it protects the homeowner if a person gets hurt while working on a project. If you hire a contractor, or subcontractors without Worker’s Compensation Insurance they may be able to sue you and collect a large sum of money. You need to ask for a certificate of insurance indicating both types of insurance as a requirement of your contract.

6. If you get to contract, please, please, have your contract reviewed by an attorney before you sign. Make sure that the contractor’s responsibilities, as well as yours are completely covered.

Also, include in the contract the warranty policy, the change order policy, and payment schedule.

There should also be a release clause for failure to perform and it is not uncommon to ask for a expected date of delivery with penalties if it exceeds an agreed date.

Once you have this information, you should also research the contractor online. It is a great resource for information. If there are complaints or disputes they may show up in this media.

Establishing peace of mind is one of the most important items prior to the commencement of your project. *adapted from C. L. Design acquire magazine

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DILIGENT DEVELOPMENT

ORCHARD TRAIL

NORWALK

Description: 21 single family lots available throughout the coveted Orchard Hills Development in Norwalk, IA. Something for everyone including daylight, flat, walk-out, cul-de-sac, treed lots. Take advantage of the residential tax abatement offered through the City of Norwalk. Located in the highly sought-after school district of Norwalk. Close to schools, parks, and churches. Enjoy the feel of small-town living while taking advantage of the Metro amenities. Development is located 1.3 miles from Norwalk High School, 5.1 miles from Interstate 35, and just a short commute to anywhere in the Des Moines Metro.

School District: Norwalk Zoning: R - Residential

G14 G1 G 114 4

Contact for lot specific pricing, plat maps, and covenants.

Tangelo T ange gelo Cir. Cir r

Trevor Ct.

28

LUTHERAN CHURCH

Pine Ave.

Orchard Hills

Orc

Braeburn Dr.

Rellim Dr.

Peoples Company Listing #1910

Pine Ave.

Kitterman Cir.

SAINT SAIN AIN AI A I T JOHN’S J O HN’S JO ’S ’S CATHOLIC CATH CA C ATH A H OL OLI OLIC O L LIIIC C CHURCH CHU C HU H HURCH UR RCH RC CH CH

Aspen Dr.

W.. N W North Ave.

Sycamore Dr.

Directions: From West Des Moines, travel south on I-35. Take exit 65 toward Cumming. Head west on Hwy G14 and continue approximately 5.1 miles. Turn south on Sycamore Dr. into development.

Pi n

eA ve

.

Apple Blossom Cir.

har dH ills

Elm Ave.

Re

a

eD

r.

Or ar

.

Cir

ch

llim

Orchard Ridge

Sunset Dr.

Dr.

rl . dT

Steve Bruere 515-240-7500 Steve@PeoplesCompany.com

c Sy

r mo

FUTURE SINGLEFAMILY

Braeburn Dr.

© 2014 Diligent Development We obtained the information above from sources we believe to be reliable.

However, we have not verifi ed its accuracy and make no guarantee, warranty or representation about it.

It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property.

You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PARK Wright Road

MCANINCH SPORTS PARK

28

12119 Stratford Drive, Suite B | Clive, IA 50325 | (515) 309-0705 | info@DiligentDevelopment.com | www.DiligentDevelopment.com 32 |

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DILIGENT DEVELOPMENT

THE GROVE

ANKENY

Description: 8 single family residential lots available in Plat 1 and 23 lots available in Plat 2 of The Grove located in Ankeny, IA. Lots have 65’ and 75’ frontages and include a variety of walkouts, daylights, and flats. Located a quarter mile from the proposed Ankeny Catholic School site, just 2.5 miles from the Saylorville Marina, less than 5.0 miles from I-35, and just a short commute to anywhere in the Des Moines Metro. Property sits just north of Cherry Glenn Estates, one of Ankeny’s fastest growing subdivisions.

School District: Ankeny Zoning: R-1 Single Family Directions: From I-35, take the 1st St exit and head west approximately 4.3 miles to Abbie Dr. Turn right heading north on Abbie Dr. and continue 0.5 miles.

NW 13th St.

Contact for lot specific pricing, plat maps, and covenants.

Peoples Company Listing #10653

© 2014 Diligent Development We obtained the information above from sources we believe to be reliable.

However, we have not verifi ed its accuracy and make no guarantee, warranty or representation about it.

It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property.

You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PLAT 1

Abbie Dr.

Steve Bruere 515-240-7500 Steve@PeoplesCompany.com

PLAT 2

Orchard Dr.

NW 11th St.

PARK

12119 Stratford Drive, Suite B | Clive, IA 50325 | (515) 309-0705 | info@DiligentDevelopment.com | www.DiligentDevelopment.com acquire magazine

| 33

I invite you to come see some of the Metro’s top builders during the Home Builders Association of Greater Des Moines’ 2014HomeShowExpo at The Ridge at Echo Valley in Norwalk July 12 – 27th. Each home is fully furnished, decorated and these new homes reflect changing market preferences, integrated elaborate designs and consumer desires into the floor plans and construction of the homes.

You’ll see our successful Home Builders Association member home builders have the knowledge, organizational skills and drive to build your dream home!

What It Takes To Be a Home Builders Association Home Builder

By Creighton Cox, Executive Officer Home Builders Association of Greater Des Moines

B

ut what does it really take to build a house?

Like a CEO, an HBA member home builder relies on a number of workers to get the job done right. A home builder guides dozens of skilled artisans and professionals, including carpenters, architects, engineers, plumbers, electricians, painters and landscapers. The builder must understand all of the home’s complex systems and know enough about each contractor’s trade in order to coordinate this skilled team to build and sell a quality product.

Some Home Builders Association members develop the land on which the homes are built. In this capacity, they act as the land surveyor. They look at a piece of land to determine whether it complies with zoning regulations, local planning laws and environmental restrictions, and whether it is suitable for development. The HBA home builder studies the lot’s topography, searching for rock outcroppings, shallow depth bedrock, shallow groundwater, natural drainage sources and dense vegetation. Landscaping options and erosion control also have to be considered. Once a member determines that a site is suitable for construction, they must navigate the permitting process.

Home Builders Association members serve as liaisons with their communities and local government officials. They research and study local building codes to determine what can be built in a given location. In most localities, building codes govern building, plumbing, heating and air conditioning, electrical systems and fi re safety. After studying the building codes, the builder collects all the required permits from various authorities before proceeding with construction.

Once the permits are obtained, the HBA member will prepare the site and select how the home will be situated on it. The home builder then oversees the entire construction process, which includes— but is certainly not limited to—laying the foundation; erecting the framing, roofing and siding; building the walls; and installing the plumbing, heating and electrical work.

An HBA home builder acts as an inspector. The local building department will inspect the construction site for code violations throughout the home’s construction. But a professional Home Builders Association builder will make certain the home meets both code and warranty guidelines long before and after the officials show up. Once the house is finished, the builder informs the appropriate municipal departments that it is ready for fi nal inspection and the approval that the home is safe for its new owners to move in.

Professional HBA home builders strive to deliver a home that will make their customers happy.

To meet this objective, they act as public relations professionals. The builder will discuss the construction process and building schedule with the buyer, and plan times when the buyer can tour the building site and ask questions about the status of their new home.

To learn more about the home building process or to fi nd an HBA home builder in the Des Moines Metro, contact Home Builders Association of Greater Des Moines at 515-270-8500 or visit

HBA members are also businesspeople who establish a network of reliable and quality materials suppliers and trade contractors with whom they conduct business on a regular basis.

Home builders are schedulers and record keepers. They must think on their feet, keep complex construction timelines and tackle multiple tasks simultaneously in order to keep the construction process moving forward and ensure the home is completed on schedule.

www.desmoineshomebuilders.com.

All in all, a Home Builders Association home builder must wear many, many hats in order to deliver a home where the new owners can hang their own hats, raise a family and build lifelong memories.

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Trust Seneca for Your Pre-Purchase Investigation - Phase I/II Services

Phase I Environmental Site Assessment (ESA)

Phase II

• Planning tool for buyers, sellers and lenders assessing potential financial liabilities due to environmental issues - assisting with: • Identifying conditions that may increase redevelopment costs • Identifying risks that require regulatory action • Eliminating transaction delays • Identifying conditions that may result in land use restrictions

• Seneca can make recommendations for Phase II based on the findings/results of the Phase I assessment • Phase II assessments are carefully tailored using state-of-the-art engineering techniques and procedures to address specific problems • Solutions can range from traditional removal and disposal to more complex treatment systems depending on the findings

Environmental Services 4140 E. 14th Street Des Moines, IA 50313 Darren Binning: 515.261.7705

www.senecaco.com ~ 800.369.3500

w w w. m il iiller l l er fidler fidl fi dler er a ndhink n dhin ndh ink k e .c .com om

The Miller, Fidler & Hinke Insurance Agency offers a wide spectrum of products and services for our clients. At Miller, Fidler & Hinke Insurance Agency we spend countless hours analyzing each family and individual company’s risk and rendering results customized to each customer. Every family and company is unique, because of this each interaction with our customer is unique. Everything we do is 100% customized for our customers with the goal of protecting your family and company, accomplishing your goals and creating a superior customer experience.

Home & Auto Insurance Commercial Property & Casualty Insurance • Builders Risk • Surety •

products & services

Contact us anytime. We would love the opportunity to earn your business.

•

Miller, Fidler & Hinke Insurance Agency Corporate Headquarters 12035 University Avenue, Ste. 202 | Clive, IA 50325 | 515 -223 - 6757

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| 35

The Sign of Integrity AVAILABLE COMMERCIAL PROPERTY

974 3rd St Suite 9, Windsor Heights $104,900 Sale or $1,350/ mo Gross Lease 1,250 foot office condo located in Windsor Heights, just north of the 73rd St/8th St. exit off I-235. 3 offices, kitchenette, bath, and open workspace area with clean finish. Monument signage directory and available immediately!

2620 E. University Ave, Des Moines $6,000/mo NNN – 14,300 SF New Listing! Recently remodeled building adjacent to brand new Dunkin Donuts. 3000+ square feet of storefront showroom with 11,300 feet of warehouse/shop.

Plenty of parking, pole sign, and 21,600 VPD

5701 Fleur Dr, Des Moines $15.50/SF NNN 1808-3008 SF with potential drive-thru available. Former Quiznos space, adjacent to H&R Block. Across from Des Moines International Airport.

Monument signage and tenant improvement allowance available.

Hubbell and Broadway, Des Moines $5/SF – $228,500 1 acre lot perfect for fast food, auto service, or retail. Just off the bypass, across from new Kum and Go (2014). Heavily traveled corridor. Over 700’ feet of combined road frontage!

Eric Grubb, CCIM 10888 Hickman Road, Suite 3B Clive, Iowa 50325 Phone: 515.334.3345 Mobile: 515.975.7441 eric@stanbroughrealty.com www.stanbroughrealty.com/ericgrubb

LET CITY STATE BANK HELP BRING YOUR HOME TO LIFE! Purchase or Refinance Today 15 YEAR:

30 YEAR:

3.125% Rate 3.44% APR 4.125% Rate 4.30% APR 180 payments of $6.96 per month per thousand borrowed (does not include taxes or insurance so actual payment may be greater). APR based on loan amount of $100,000 with a 5% down payment, 1% origination fee and customary closing costs.

Credit qualifications apply. Rates and terms subject to change.

360 payments of $4.84 per month per thousand borrowed (does not include taxes or insurance so actual payment may be greater). APR based on loan amount of $100,000 with a 5% down payment, 1% origination fee and customary closing costs.

Credit qualifications apply. Rates and terms subject to change.

Looking to build a new home? We’d love to help! Contact one of our lenders for rates.

Jan Sparks Norwalk 515-981-1378 NMLS #478069

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Nicol Hoover Norwalk 515-981-1382 NMLS #478070

Dustin Andersen Madrid 515-795-3807 NMLS #508737

Steve Davis Grimes 515-240-1111 NMLS #478064

Sheena Cook Grimes 515-306-1425 NMLS #478071

Chrissy Draper Grimes 515-339-5118 NMLS #815246

Mary Kay Hamell Indianola 515-961-7000 NMLS #478060

Never a buyer or seller charge of $75 to $500, called a Broker Administrative Fee like most brokers Follow Realty Xperts of Des Moines on Facebook and watch as a new home is built daily.

1128 Elder Lane Des Moines

4230 Fleur Drive #2 Des Moines, IA 50321

515-277-7945

www.realtyxperts.net We offer either full service or limited service.

We can assist you with any of over 3000 homes!

Foundation 10 feet deep-when finished there will be 8+ feet clear headroom.

Bottom picture is day 23, with the concrete floors going in.

Walkout ranch. This is a quality-built, one-owner home, situated on over half an acre.

Approximately 1232 square feet.

Formal dining area, patio door to a nice size deck. Large kitchen with an eating area, plenty of cabinets, stove and refrigerator.

Hardwood floors under most carpets. Large living room and dining area have cove ceilings.

Lower walkout level.

Call Tom Jarshaw 771-2516 or email tomjarshaw@gmail.com

Just click on the QR code!

604 Southlawn Circle Ankeny

4031 11th Place Des Moines

7000 Sweetwater Drive Des Moines

Come visit this awesome home and look at how well it has been maintained. Hardwood floors--not laminate--real wood.

Cute deck, garage and much more in Ankeny. Donâ&#x20AC;&#x2122;t delay-someone else may beat you to it!

WOW! A must see 4 bedroom, 2.5 bath home in Shawnee Park.

Lots of updates to this home.

All you have to do is just move in and enjoy. A sharp looking home plus you have a garage!

A must see home assessed at $215,000+ and now only $184,900! See this 4 bedroom, 2.5 bath home with over 2000 square feet above grade ASAP! An unfinished walkout-to-thelake lower level just for your customization as you want it!

Call Matt Smith 669-8591

Call Glen Ballard 707-2915

Call 277-7945 Now

We do not charge Broker Administrative Fees to either seller or buyer.

We work with you--not against you--to save you $$$$$$$$$$$$$$

Never a buyer or seller charge of $75 to $500, called a Broker Administrative Fee like most brokers acquire magazine

| 37

PROTECTING YOURSELF in a Construction Project Gone Wrong

Phil Bubb, Construction/Litigation Attorney

1

The he Scenario: Evaluating a Lawsuit

You’re You Y u’re ta ttalking with your lawyer about your options. The builder that you hired to do some construction work did a poor job (or failed to complete the job), and you are trying to determine whether it makes sense to fi le a lawsuit against him for the damages that you have incurred because of his bad work.

That’s when your lawyer tells you that you never had a contract with the builder. This comes as a surprise to you because you spoke with the builder, you watched the builder perform the (substandard) work, you remember the builder signing the contract, and you distinctly remember paying him.

he Problem: Limited Liability 2 The Because Bec cause ause your construction contract is with the company, you are probably not going to be able to fi le a lawsuit against the builder. You likely will have to fi le a lawsuit only against the company.

Corporate entities were designed to limit an individual’s exposure to risk. They serve that purpose very well and, in most cases, they totally insulate individuals from the company’s debts and liabilities.

Most builders have created corporate entities for conducting their work. Most of those corporate entities have very few, if any, real assets. Usually, a builder’s tools, truck, and primary bank accounts are kept in the individual’s name. Even if the company has a checking account, any money in that account is quickly (and frequently) transferred to the individual builder’s checking account and is no longer a company asset. Corporate entities – especially small ones – rarely have a savings account.

Your lawyer informs you that the corporate entity has no assets.

Or worse, upon threat of your lawsuit, the builder simply dissolved the corporate entity. In any event, there is no point trying to collect any money from the company that signed your contract because the company either has no money or it no longer exists. The builder might have plenty of money, but you likely cannot go after it.

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But you didn’t sign a contract with the builder; you signed a contract with the builder’s corporate entity. When everything was going well and the builder was doing his job, you didn’t care whether your contract was with the builder or his company. But now that you are evaluating a lawsuit to collect damages caused by the builder’s bad work, the distinction matters.

he Fix: Personal Guaranties h 3 The Because Bec cause he is smart, however, your lawyer also tells you about a tool that you can use to fi x this problem in the future: You can ask new builders (i.e., those with whom you don’t have a long history) to personally guaranty their company’s obligations under the contract.

A personal guaranty would make the builder individually liable for a breach of the contract and would allow you to collect against the builder’s assets if the company has no assets. Essentially, the builder is guaranteeing, with his own personal assets, that the company will perform under the contract. Th is is a big step and some builders might understandably balk at the request to add such a provision to the contract.

I don’t recommend adding a personal guaranty to all of your contracts.

But if you have reason to believe that the builder’s company might not have any assets or might simply dissolve if the construction project ends badly, a personal guaranty might be the right tool for the job.

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0DLQ 2IÀFH 4307 NW Urbandale Drive Urbandale, IA 50322 515-251-4958 | 866-839-3353

,QGLDQROD 2IÀFH 104 North Howard Street Indianola, IA 50125 ZZZ GHVLJQLQNE\HGMH FRP

Re/max Suburban Real Estate Inc.

102 1st St. SE, Bondurant, Iowa 50035

CALL: 515-669-7355 It’s simple. We are a locally owned small business who loves to help you help your local community, organizations and charities in need!

Please refer us to help them by recommending us to every friend, family member, co-worker or church member that says “We’re thinking of buying or selling a home”!

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WE HAVE BUYERS!

JUST LISTED

BUILDING LOTS

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Home values are rising in USDA RD areas.

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Bondurant 4 bedroom, 1-1/2 bathroom, 2 story home priced to sell. $139,900

We have SE Polk acreage building lots under $30,000 and Des Moines duplex lots available for only $30,000. CALL TODAY!

A Mitchellville brick ranch, a brand new Bondurant ranch home, a Bondurant acreage lot, plus a Bondurant acreage with manufactured home. CALL NOW!

SEE A SOLD SIGN SOONER! acquire magazine

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DILIGENT DEVELOPMENT

BLUESTEM

WAUKEE

Plat 1 Available for Spring Construction Description: Bluestem will consist of 86 single family residential lots including 14 lots in Plat 1 available for 2014 construction.

Lots in Plat 1 range in size from 8,125 sq. ft. to 12,711 sq. ft.

Bluestem is ideally located in one of the Metro’s fastest growing communities on SE LA Grant Pkwy, adjacent to the existing Waukee Middle School as well as a future school site, and just over one mile from the Waukee High School. Great access to University Ave, Ashworth Rd, I-80 and I-35, and the future Alice’s Rd extension.

School District: Waukee Zoning: R - Residential Directions: Travel west from Interstate 80/35 on University Ave/ Hwy 6 into Waukee, IA. Turn south on SE LA Grant Pkwy and continue approximately one mile. Bluestem is located on the east side of the road directly south of the existing Middle School.

PLAT 1 SE Tallgra

ss Ln.

SE Bluestem Ct.

Contact for lot specific pricing, plat maps, and covenants.

Peoples Company Listing #11386

Steve Bruere 515-240-7500 Steve@PeoplesCompany.com

© 2014 Diligent Development We obtained the information above from sources we believe to be reliable.

However, we have not verifi ed its accuracy and make no guarantee, warranty or representation about it.

It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property.

You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PLAT 2

SE Bluestem Dr.

SE Blazing Star Dr.

SE L.A. Grant Pkwy.

SE Sunflower Dr.

SE Wild Iris Dr.

PARK

12119 Stratford Drive, Suite B | Clive, IA 50325 | (515) 309-0705 | info@DiligentDevelopment.com | www.DiligentDevelopment.com 40 |

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DILIGENT DEVELOPMENT

STONE PRAIRIE

WAUKEE

Plat 2 Available for Spring Construction Description: 11 lots available in Plat 2 for spring construction.

Plat 3 sold out! Stone Prairie is ideally located in one of the metro’s fastest growing communities on SE LA Grant Parkway, adjacent to the existing Waukee Middle School as well as a future school site, and just over one mile from the Waukee High School.

Great access to University Avenue, Ashworth Road, I-80 and I-35, and the future Alice’s Road extension.

School District: Waukee Directions: Travel west from Interstate 80/35 on University Ave/ Hwy 6 into Waukee, IA. Turn south on SE LA Grant Pkwy and continue approximately one mile. Stone Prairie is located on the west side of road directly across from Waukee Middle School. e 312th Plac

Contact for lot specific pricing, plat maps, and covenants.

SE Aster Ct.

Peoples Company Listing #1626

SE Trilliu

Steve Bruere 515-240-7500 Steve@PeoplesCompany.com

© 2014 Diligent Development We obtained the information above from sources we believe to be reliable.

However, we have not verifi ed its accuracy and make no guarantee, warranty or representation about it.

It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or fi nancing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property.

You and your tax and legal advisors should conduct your own investigation of the property and transaction.

mD

one

Pra

i rie

Dr.

PLAT 1

SE

r.

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r.

PLAT 3 FUTURE PLAT 4 PLAT 2

SE L.A. Grant Pkwy.

S E St

PARK

12119 Stratford Drive, Suite B | Clive, IA 50325 | (515) 309-0705 | info@DiligentDevelopment.com | www.DiligentDevelopment.com acquire magazine

| 41

FINANCING YOUR NEW CONSTRUCTION HOME Easier Easier Than Than Y You ou Think!

Think!

F

inancing a new construction home is not a daunting task when paired with the right lender, builder and Realtor. In fact, getting financing for a new home is very much the same as getting financing for an existing home!

Most builders generally carry the construction loan for the buyer so, as a buyer, you just need to focus on the “end loan” which makes the process much less complicated.

So if you know building a new home is what you want to do, your first step is to get pre-approved and discuss your loan options with a lender. A good lender will gather a lot of information up front to avoid any bumps in the road later on.

Expect them to take a full loan application and to pull a current credit report as well as gather income and asset documentation.

This will help the lender when discussing your options as far as loan type, down payment, how much of a loan you qualify for and the general structure of the loan.

Rachel Delzell Licensed Loan Originator Legal Licensing Information: Fairway Independent, NMLS #2289 Rachel Delzell, NMLS #1135841, Iowa #22523

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Types of Loans for Your New Construction Home Can you believe that realizing your dream of building your own home can happen with a down payment of only 3.5%?!

If you don’t have a whole lot o’ money in the bank (or just don’t want to spend every dime you have) and your credit isn’t the best an FHA (Federal Housing Administration) LOAN might be just the ticket for your new construction loan. FHA loans require a minimum down payment of just 3.5% along with more lenient qualification requirements than other loan types.

Now if have 5% or more of the purchase price to put toward your down payment and you have good credit, a CONVENTIONAL LOAN is the way to go. You will save money over time going with a Conventional Loan due to the more reasonable Private Mortgage Insurance.

A couple other not-as-common types of new construction loans include VA LOANS and USDA LOANS. Both require no down payment, but you must be a veteran to qualify for a VA loan and USDA loans tend to be limited to rural areas with relatively small populations and have income restrictions.

Another thing to consider is your BUILDER’S FINANCING OPTIONS. Your builder may offer attractive financing packages as well, possibly saving you in closing or upfront costs or even upgrades for your new home. Also, because of their strong working relationship with the lender, the process may go faster since both parties are very familiar with how new construction works.

Discuss all these options with your lender to figure out what option makes the most sense for you.

REALTORS! It’s always good to have an experienced new construction Realtor on your side.

The builder you choose will most likely have an agent he or she works with or recommends.

Even if you have your own agent working for you, the builder’s Realtor is still a great resource for you during the process. The Realtor is there to do the client relations for the builder and is there to answer any question you might have about the new construction process.

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building strong communities.

S I N C E 19 5 6

Providing civil engineering and land surveying services to the land development and public infrastructure markets.

Our vision is to positively improve the quality of life for those we impact by applying sound, innovative engineering and business principles while enhancing our earthâ&#x20AC;&#x2122;s natural resources.

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| 43

@V\Y 9VVĂ&#x201E; UN :PKPUN ,_WLY[Z Brad VanWeelden has been providing sales and installation of quality exterior products in central Iowa for over 15 years. With VSHFLDOL]DWLRQ LQ KLJK HQG URRÂż QJ DQG VLGLQJ they also offer commercial as well as residential VHUYLFHV IRU FRQVWUXFWLRQ DQG DGGLWLRQV ZLQGRZV VN\OLJKWV VRODU LQVXODWLRQ JXWWHUV DQG OHDI JXDUGV SDLQWLQJ DQG GHFNV 4XDOLW\ service is the top priority at Brad VanWeelden Company. Their commitment to customer satisfaction has built a reputation of reliability DQG KRQHVW\ HDUQLQJ UHVSHFW IURP VXSSOLHUV fellow contractors and homeowners.

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We would like to thank all of our clients for their support in winning the 2014 BBB Integrity Award!

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(515) 979-4772 | www.bradvanweelden.com | brad@bradvanweelden.com

A daily 70 word commentary on the economy authored by Dr. Elliot Eisenberg, Ph.D. and available at www.econ70.com SEVENTY WORDS ON THE ECONOMY. DAILY.

from

MAR

HOUSING HOLDS:

26 While many fret that existing housing sales have recently been slumping, the angst is misplaced. Since early last year sales have declined 7%, but distressed sales as a percentage of all sales have fallen from 25% of sales to just 15%, a drop of 10 percentage points, more than the 7% drop in sales. Thus, the total volume of non-distressed sales is higher than it was a year ago. Relax.

w w w.e c on70.c om 44 |

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Elliot Eisenberg, Ph.D. is a nationally acclaimed economist and public speaker specializing in making the arcana and minutia of economics fun, relevant and educational.

July 12-13, 19-20 and 26-27

New homes, fresh designs, local experts.

See the latest trends from local builders; each home is filled with new ideas you can use in your current home or your next one.

dmhomeshow.com 45

SOCIAL MEDIA: Targeted Relationship Building for Real Estate Agents, Construction Pros

I

n 2014, it should come as little or no surprise to real estate agents and construction contractors that more people are turning first to the web, mobile devices and social media when shopping for a home or the services of a professional builder in their local communities.

We also know that every business has a story. And at the heart of our storytelling there lies a unique opportunity to drive awareness of the brand while drawing attention to the employees, products, services or value propositions that set us apart from the rest.

Social networking – in person or on the web – isn’t and never should be about simply standing around in a suit with a canned elevator speech and proverbial business card in hand. In fact, social media is a function of public relations, which at its core is a fancy name for customer service. In the digital age, customer service starts by asking two questions: Am I everywhere my clients or prospects expect me to be? And when they find me, do I have something of relevance to say?

So just how many are actually looking? Let’s put this in a big context.

Todd Razor is a real estate and construction writer who operates a

The Wall Street Journal, sourcing Fujifi lm, reported last year that each day users upload 350 million photos to Facebook. Every minute, 100 hours of worth of video is posted to YouTube. By the way, Fuji estimates 1.6 trillion images are now captured annually with digital devices, compared with a paltry 100 billion at the turn of the millennium.

West Des Moines, Iowa-based agency focused on telling the stories of builders, remodelers and real estate professionals through well-defi ned marketing and public relations campaigns in print, in person and on the web. Todd is the President of Th ree Razors Media and

In recent years, traditional lines among marketing, advertising, public relations and even media buying have blurred out, too, as an army of self-publishers gained greater access to blazing fast Internet connection speeds amid a vast proliferation of digital media choices. Of course, business also takes on many forms. What hasn’t changed is that behind the most successful of organizations there typically stands a brand ambassador with a story to tell.

can be reached at (515) 953-8247 or todd@threerazors.com

From our experience at Three Razors Media – working with top-producing real estate and construction professionals on marketing, public relations and brand-building campaigns – we’ve found that the most successful of these are also among the most natural in formal networking environments, at trade shows and during consumer-facing events. The good news is that smart real estate sales agents and building professionals who’ve invested over the years in a steady stream of breakfasts, lunches, cocktail hours, home shows, industry events and plain-old coffee meetings are best positioned to utilize social media – populating them with real-world references, client testimonials and easy-ways-to-contact-you buttons while reinforcing existing business relationships online.

As the Internet news hole grows larger and new technologies provide up-and-coming casts of selfpublishers with new tools to expand their reach in local communities, one of challenges is to develop relevant messages for a targeted audience, in lieu trying to drown one another out by pouring a bunch of irrelevant information on the web. Traditional business news and fi nancial publications from Forbes to the Wall Street Journal are now publishing with regularity articles that highlight areas in which both business-to-business and business-to-consumer facing professionals are capitalizing on social media to connect with users looking to make buying considerations or to do business in near real time.

The best place to start may be to enlist the services of your marketing department or hire a communications professional who can assist with navigating this modern digital media landscape – claiming your online real estate and framing up a plan to create, aggregate and share targeted information intended to resonate with homebuyers and add value to the conversation instead of making a sales pitch at every turn.

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WA R REN COU N T Y L A N D FO R S A L E

LISTING #11297 10.66 Acres M/L $79,000 13778 Summerset Rd Indianola, Iowa

WA R R EN COU N T Y L A N D FO R S A L E 10.66 acres m/l timbered recreational site with a creek on hard surface road north of Indianola. Property is situated adjacent to the Summerset Recreational Trail. Property is in flood plain and floodway. No permanent structures will be allowed to be built. Great location for a weekend camping trip or just to get away. Located less than a mile from Hwy 65/69, minutes from Hwy 5 bypass and just a short commute to anywhere in the Des Moines Metro.

SCOTT KELLY: 515-473-8913 Scott@PeoplesCompany.com

12119 Stratford Drive, Suite B Clive, Iowa 50325

www.PeoplesCompany.com

855.800.LAND acquire magazine

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