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Facts & Trends Real Estate

Winter 2014 Ruhl&Ruhl REALTORS 2013 Was a Very Good Year

Jane Bauman Broker Associate (563) 441-5150

janebauman@ruhlhomes.com

Jane-Bauman.com

IN THIS ISSUE: page­ 2

Real Estate Activity Chart

page­ 4

Ruhl&Ruhl Realtors Celebrates Record Year!

page­ 4

Regional Home Price Appreciation By Market

2013 was a good year in our region for real estate. Overall, sales and prices were up and inventory, while lower than we’d like, was balanced – meaning neither a buyer’s nor a seller’s market. However, there were significant differences from market to market, as shown on our Regional Real Estate Activity Chart on page 2. Probably the best measure of the strength of a market is months of inventory. We consider a buyer’s market to be more than 6 months of inventory, a seller’s market to be up to 3 months of inventory and a balanced market to be 4-6 months of inventory. Most of our markets fell in the balanced range as of 12/31/13. Months of Inventory Burlington Area 5.5 months Cedar Rapids Area 6.1 months Clinton/Camanche/Fulton 8.4 months Dubuque Area 4.8 months Illinois Quad Cities 6.1 months Iowa Quad Cities 4.2 months Iowa City Area 6.2 months Muscatine/Wilton Area 4.7 months

page­ 6

Results for all 13 Multiple Listing Services (MLSs) that we belong to are shown on page 2 in the Regional Real Estate Activity Chart.

page­ 7

“Probably the best measure of the strength of a market is months of inventory.”

Ruhl&Ruhl Realtors Invests in NAI Ruhl Commercial Company New Home Sales and Starts in the Region

Ruhl&Ruhl Realtors had a record breaking year in 2013 – in number of properties sold, in revenue (aka gross commission income), and in new construction sales volume. See details on page 4.

Forecast for 2014

1. Flat Unit Sales: The housing market will likely not see the upward surge in 2014 that we experienced in 2012 and 2013. Rising (though still historically low) interest rates, and sluggishness in employment growth and household incomes will impact buyer confidence. Investor purchases will slow as prices climb.

“We hope rising prices will allow previously underwater sellers to finally be able to sell.”

2. More Difficult to Get Financing: Mortgage underwriting requirements are tighter than at any time in the past 15 years. In our opinion, Dodd-Frank and the rules emanating from the Consumer Finance Protection Bureau (CFPB) are in fact hurting consumers rather than protecting them. 3. Prices Will Continue to Go Up: As shown on page 4, prices are appreciating nicely in most of our markets. Sellers in markets with the lowest months of inventory can expect the greatest appreciation in 2014. We hope rising prices will allow previously underwater sellers to finally be able to sell their properties. 4. Opportunities in 2014: We see pent up demand, especially from first-time buyers, many of whom have been renting or living with family. As more jobs are created they can finally purchase homes. There is strong demand from buyers for affordable new construction homes but an insufficient number of spec homes. See new construction article on page 7. RuhlHomes.com • 1


2013 Regional Real Estate Activity Through December

Average 2013 Sales Price

% Change in Average Sales Price from 2012

$112,200 $166,800 $101,600 $144,400 $160,600 $171,200 $107,900 $179,000 $206,500 $108,900 $130,400 $112,400 $96,500

+8% +3% -2% -6% -2% -3% -3% +1% +7% -8% +2% -2% -5%

Burlington Area Cedar Rapids Area Clinton/Camanche/Fulton DeWitt Dubuque Area Galena & Surrounding Area Illinois Quad Cities Iowa Quad Cities Iowa City Area Maquoketa/Preston/Bellevue Muscatine/Wilton Area Southwest Wisconsin Washington Area

2013 Number Sold

581 4,199 438 105 1,046 135 1,930 2,344 2,825 171 515 475 152

% Change in Number Sold from 2012

+11% +10% -5% -11% -6% -7% +7% +8% +8% +27% +6% +7% -1%

2013 Sales Volume

$65,180,500 $700,339,500 $44,512,100 $15,164,400 $167,956,000 $23,112,900 $208,276,000 $419,618,900 $583,242,200 $18,622,800 $67,167,200 $53,386,800 $14,668,300

% Change in Sales Volume from 2012

+19% +16% -7% -16% -8% -10% +4% +9% +16% +16% +9% +4% -6%

Active Listing Count 2013

242 1,631 272 39 376 318 895 671 903 92 215 347 92

% Change in Active Listings from 2012

-13% -5% -13% +26% -18% -6% +7% -4% -9% +15% -9% +9% -19%

Months of Inventory

5.5 6.1 8.4 5.3 4.8 29.5 6.1 4.2 6.2 8.1 4.7 10.6 5.3

Summary of Regional Real Estate Activity ­Burlington Area

Listing Inventory: There are 242 properties for sale in Burlington, Iowa and the surrounding area, 13% fewer than the same time last year when there were 279 properties listed. Properties Sold: There was an 11% increase in the number of residential properties sold in 2013, comparing 526 sales in 2012 to 581 sales in 2013. Average Sales Price: The average sales price was $112,200 in 2013, 8% higher than the 2012 average sales price of $104,000. Residential Sales Volume: Sales volume was up 19%, an increase from $54,695,900 in 2012 to $65,180,500 in 2013.

there were 1,718 properties listed. Properties Sold: In 2013, 4,199 properties sold and closed, 10% more than the 3,825 properties that sold in 2012. Average Sales Price: The average sales price was $166,800 in 2013, 3% more than the average sales price of $162,500 in 2012. Residential Sales Volume: Residential sales volume increased 16%, from $603,914,200 in 2012 to $700,339,500 in 2013.

Clinton, Camanche & Fulton

Cedar Rapids Area

$65,180,500

$54,695,900

$112,200

$104,000

581

526

242

279

Listing Inventory: There are 13% fewer properties listed for sale in the Clinton, Camanche and Fulton area; comparing 272 properties currently for sale to 312 listings for sale at the same time last year. Burlington Area 2013 Properties Sold: A total of 438 2013 2012 2013 2012 properties sold in 2013, 5% less than in 2012 2013 2012 2012 when 463 properties sold. Average Sales Price: The average sales price in 2013 was $101,600, 2% less than the 2012 average sales price of $103,300. Residential Sales Volume: Sales shrank 7%, from $47,806,300 in 2012 Listing Properties Average Residential Inventory Sold Sales Price Sales Volume to $44,512,100 in 2013. This follows a 22% increase from 2011 to 2012.

Listing Inventory: There are 1,631 residential properties currently listed for sale in the Cedar Rapids area, 5% less than the same time last year when 2 • RuhlHomes.com

DeWitt

Listing Inventory: DeWitt’s listing inventory is up 26%, from 31 properties listed for sale last year to 39 properties currently for sale.

Properties Sold: 105 properties sold and closed in 2013, a decrease of 11% from 2012, when 118 properties sold. Average Sales Price: The average sales price of homes sold in 2013 was $144,400, 6% less than in 2012 when the average sales price was $153,000. Residential Sales Volume: Sales volume decreased 16% in 2013, from $18,055,300 in 2012 to $15,164,400 in 2013.

Dubuque Area

Listing Inventory: There are 376 residential properties currently listed for sale in the Dubuque region, 18% less than the same time last year when there were 457 properties for sale. This follows a 19% decrease from 2011 to 2012. Properties Sold: 6% fewer properties sold and closed in 2013, a decrease from 1,111 closings in 2012 to 1,046 closings in 2013. Average Sales Price: The average sales price of homes sold in 2013 was $160,600, 2% less than the 2012 average sales price of $164,600. Residential Sales Volume: Sales volume in 2013 was $167,956,000, down 8% from $182,897,100 in 2012.

Galena & Surrounding Area

Listing Inventory: There are 318 properties for sale in Galena, Illinois and the surrounding area; 6% fewer than the same time last year when there were 337 properties for sale.

Summary continued on page 3


Summary continued from page 2

Iowa Quad Cities

Listing Inventory: There are 671 homes and condominiums currently listed for sale in the Iowa Quad Cities, a 4% decrease from the same time last year when there were 697 properties for sale. Properties Sold: 8% more properties sold and closed in 2013, an increase from 2,173 sales last year to 2,344 sales this year. Average Sales Price: The average sales price is up 1% in 2013; from $177,500 in 2012 to $179,000 in 2013. Residential Sales Volume: Sales volume increased 9% from $385,710,100 in 2012 to $419,618,900 in 2013.

Listing Inventory

Properties Sold

2012 $385,710,100

2012 2013

2013

Listing Inventory

$583,242,200

$503,247,300

$206,500

$193,200

2,825

2,605

Properties Sold

Average Residential Sales Price Sales Volume

Maquoketa, Preston & Bellevue

Listing Inventory: There are 92 properties currently for sale in the Maquoketa, Preston, and Bellevue area; 15% more than the same time last year when there were 80 properties for sale. Properties Sold: 27% more properties sold in 2013, an increase from 135 sales in 2012 to 171 sales in 2013. Average Sales Price: The average sales price of homes sold in 2013 was $108,900, 8% less than the 2012 average sales price of $118,900. Residential Sales Volume: Sales volume increased 16%, from $16,046,600 in 2012 to $18,622,800 in 2013.

Muscatine & Wilton Area

$179,000

Listing Inventory: There are 215 homes and condominiums currently listed for sale in the Muscatine and Wilton area, 9% less than the same time last year when there were 235 Average Residential properties for sale. Sales Price Sales Volume Properties Sold: 515 properties sold in $177,500

2013

2,344

2012

2,173

2013

671

697

2012

$419,618,900

Iowa Quad Cities

903

990

Listing Inventory

Properties Sold

2012

2013 $67,167,200

2012 2013

$61,857,800

2013

$130,400

2013

2012

$127,300

2012

515

Listing Inventory: There are 895 residential properties currently listed for sale in the Illinois Quad Cities, 7% more than the same time last year when there were 838 properties for sale. Iowa City Area Properties Sold: In 2013, 7% more 2013 2013 2012 2013 2012 properties sold, comparing 1,811 sales 2012 2013 2012 last year to 1,930 sales this year. Average Sales Price: The average sales price decreased 3%, from $110,700 in 2012 to $107,900 in 2013. Residential Sales Volume: Sales volume grew 4%, from $200,503,000 in 2012 to $208,276,000 in 2013.

Muscatine & Wilton Area

486

Listing Inventory: The number of properties for sale in Iowa City decreased 9%; from 990 properties for sale at this time in 2012 to 903 properties currently on the market. Properties Sold: The number of properties sold increased 8%, from 2,605 properties sold in 2012 to 2,825 properties sold in 2013. Average Sales Price: The average sales price of homes sold increased 7%, from $193,200 in 2012 to $206,500 in 2013. Residential Sales Volume: Sales volume was $583,242,200 in 2013, a 16% increase from the 2012 sales volume of $503,247,300.

2013, 6% more than in 2012 when 486 properties sold. Average Sales Price: The average sales price was $130,400 in 2013, 2% more than in 2012 when the average sales price was $127,300. Residential Sales Volume: Sales volume increased 9%, from $61,857,800 in 2012 to $67,167,200 in 2013.

215

Illinois Quad Cities

Iowa City Area

235

Properties Sold: There was a 7% decrease in the number of residential properties sold in 2013, comparing 145 sales in 2012 to 135 sales in 2013. This follows a 41% increase from 2011 to 2012. Average Sales Price: The average sales price was $171,200 in 2013, 3% lower than the 2012 average sales price of $176,200. Residential Sales Volume: Sales volume was $23,112,900 in 2013, down 10% from 2012 when it was $25,548,900.

Average Residential Sales Price Sales Volume

Southwest Wisconsin

Listing Inventory: There are 347 properties currently for sale in the southwest Wisconsin region, a 9% increase from the same time last year when there were 319 listings. Properties Sold: There was a 7% increase in the number of residential properties sold, comparing 445 sales in 2012 to 475 sales in 2013. Average Sales Price: The average sales price was $112,400 in 2013, 2% lower than the 2012 average sales price of $115,000. Residential Sales Volume: Sales volume was up 4%, an increase from $51,182,300 in 2012 to $53,386,800 in 2013. This follows a 17% increase from 2011 to 2012.

Washington Area

Listing Inventory: There are 92 properties for sale in Washington, Iowa and the surrounding area; a 19% decrease from the same time last year when there were 114 listings. Properties Sold: In 2013, 1% fewer properties sold, comparing 153 sales in 2012 to 152 sales in 2013. Average Sales Price: The average sales price decreased 5%, from $102,100 in 2012 to $96,500 in 2013. Residential Sales Volume: Sales volume decreased 6%, from $15,620,400 in 2012 to $14,668,300 in 2013. RuhlHomes.com • 3


Reg

Ruhl&Ruhl Realtors Celebrates Record Year! Ruhl&Ruhl Realtors broke some records in 2013, even following remarkable growth in 2012. 1. Record Number of Properties Sold: Ruhl&Ruhl Realtors sold 5,374 properties in 2013, as either listing agent or selling agent. This was 4% more transactions than 2012. And 2012 transactions were up 24.5% over 2011. 2. Residential Sales Volume Flat: Ruhl’s sales volume in 2013 was $806,347,735, just slightly down from 2012’s sales volume of $807,533,527. 2012’s volume was up 36.2% over 2011. 3. Commercial Sales Volume: NAI Ruhl Commercial Company, a new venture between Ruhl&Ruhl Realtors and John Ruhl, sold over $138,000,000 in commercial real estate in 2013 and had 49.3% market share in the region. 4. Record Revenue: Revenue in a real estate company is primarily gross commission income (GCI). Ruhl’s GCI was a record $24,156,181, or 2.6% up from 2012. And 2012 GCI was up 34.2% over 2011. 5. Nationally Ranked Per Agent Productivity: On average our agents closed 18.7 transactions in 2013, which is up from 18.1 in 2012 and 15.1 in

2011. This is the highest per agent productivity in the region and more than double the national average of 7 transactions per agent per year. 6. More Great Agents and Staff: We ended 2013 with 287 agents, up from 286 in 2012 and 275 in 2011. In addition 66 employees work for the company, equating to 54 full-time staff. 7. Ruhl Mortgage: Ruhl Mortgage, previously Shelter Mortgage, closed $120,891,880 in loan volume in 2013, including 67% purchase loans and 33% refinances. 27.2% of Ruhl&Ruhl Realtors’ buyers with financing worked with Ruhl Mortgage. 20.6% of Ruhl buyers paid cash. 8. New Construction Sales Volume Up: Ruhl&Ruhl agents sold 333 new construction homes or condos in 2013, three fewer than in 2012 but still up significantly from 243 sales in 2011. The average sales price was up to $321,326 from $313,163 resulting in higher sales volume of $107,001,594. 9. Insurance Referrals Sold: Ruhl agents referred clients resulting in 722 policies being sold by the Nelson Brothers Agency, Ruhl&Ruhl Realtors’ affiliated insurance company.

Regional Home Price Appreciation By Market Nationally home prices have increased only 0.15% in the last five years; however, larger increases are found in all of our local markets with home prices up: 9.71% in Dubuque; 5.32% in Iowa City; 1.33% in Cedar Rapids; and 3.93% in the Quad Cities. This compares to other cities: Des Moines, IA down 0.50%; and Chicago, IL down 15.17%. In the past year our prices did not appreciate as much as prices in many other markets. This is because our home prices didn’t fall as drastically as other areas of the county. A continued shortage Metropolitan Statistical Areas (MSAs)

Cedar Rapids, IA Davenport-MolineRock Island, IA-IL Des MoinesWest Des Moines, IA Dubuque, IA Iowa City, IA USA

of listings and low, but rising interest rates may impact home prices locally. According to the Federal Housing Finance Agency, of the 287 MSAs (Metropolitan Statistical Areas) ranked by home price appreciation, all of our markets in eastern Iowa ranked in the top 68% in the nation – Cedar Rapids at 194th, Quad Cities at 170th, Dubuque at 123rd and Iowa City at 108th. Our local markets continue to provide a much more stable environment for purchasing homes and investing in real estate than most other markets nationally.

2013 3rd Quarter National Ranking of 287 MSA’s*

194

Percent Change in House Prices 1 Year 5 Year

+1.19%

+1.33%

170

+1.67%

+3.93%

160

+2.09%

-0.50%

123 108

+3.08% +3.74% +8.44%

+9.71% +5.32% +0.15%

Information courtesy of Federal Housing Finance Agency (FHFA) for third quarter 2013. FHFA stats always run one quarter behind. Their full report is accessible at www.fhfa.gov. *Rankings based on annual percentage change in house prices.

4 • RuhlHomes.com

Through December Burlington Area (Burlington Board of Realtors)

Cedar Rapids Area (Cedar Rapids Area Assoc. of R Southeast Cedar Rapids Northeast Cedar Rapids Southwest Cedar Rapids Northwest Cedar Rapids Hiawatha & Robins Marion

East of I-380: Mechanicsville, Anamosa, Mt. Vernon, Li West of I-380: Walford, Fairfax, Atkins, etc. Corridor Area: Solon, Ely, Swisher Condominiums

Clinton, Camanche & Fulton (Clinton Board of Real DeWitt (Quad City Area Realtor Assoc.) Dubuque Area (Dubuque Board of Realtors) Dubuque North, South and West Dubuque Illinois Wisconsin

Galena & Surrounding Area (Realtor Assoc. of Nort

Illinois Quad Cities (Quad City Area Realtor Assoc. Rock Island Milan & Rural Rock Island County Moline Coal Valley, Rural Moline, Miscellaneous East Moline & Silvis Port Byron, Upper Rock Island County Mercer County Henry County Condominiums Iowa Quad Cities (Quad City Area Realtor Assoc.) Davenport Bettendorf & Riverdale Blue Grass, Buffalo, Durant & Walcott LeClaire, Pleasant Valley & Princeton North Scott County Miscellaneous Condominiums Iowa City Area (Iowa City Area Assoc. of Realtors) Iowa City Coralville Northwest Iowa City Northeast Iowa City Southeast Iowa City Southwest Iowa City Corridor Area Miscellaneous

Condominiums Maquoketa, Preston & Bellevue (Jackson County M

Muscatine & Wilton Area (Muscatine Board of Realt Muscatine Wilton Muscatine Outlying Condominiums Washington Area* (English River MLS)

Wisconsin - Grant & Lafayette Co. (S. Central Wisc

(This representation is based in part on data supplied by the REALT MLS) responsible for its accuracy. Data maintained by the Boards or their


gional Residential Real Estate Activity Current MLS Listings

Realtors)

isbon, etc.

ltors)

% of Active Listings

2013 Avg. Sales Price

2013 Sales Volume

2013 # Sold

% of Unit Sales

Sales/ List

2012 # Sold

2012 Avg. Sales Price

2012 Sales Volume

242

$112,200

$65,180,500

581

94%

526

$104,000

$54,695,900

1,631

$166,800

$700,339,500

4,199

98%

3,825

$162,500

$603,914,200

159

9%

156,200

54,828,600

351

8%

96%

296

147,000

43,504,200

213

13%

170,600

108,174,600

634

14%

97%

556

166,700

92,674,000

160

10%

142,700

54,068,000

379

9%

98%

362

139,000

50,329,500

122

7%

136,700

44,283,200

324

7%

98%

330

124,700

41,148,200

32

2%

248,400

26,823,200

108

2%

98%

96

224,700

21,569,700

167

10%

196,600

102,622,200

522

12%

99%

474

190,400

90,237,700

201

12%

150,300

64,779,300

431

10%

96%

477

156,500

74,653,000

151

9%

144,400

45,914,300

318

7%

96%

342

138,900

47,511,700

102

6%

274,300

74,068,400

270

6%

98%

177

244,900

43,352,100

324

22%

144,800

124,777,700

862

25%

99%

715

138,400

98,934,100

$103,300

$47,806,300

272

$101,600

$44,512,100

438

94%

463

39

$144,400

$15,164,400

105

94%

118

$153,000

$18,055,300

376

$160,600

$167,956,000

1,046

94%

1,111

$164,600

$182,897,100

243

65%

162,900

131,441,700

807

77%

94%

828

163,600

135,477,200

96

26%

150,200

26,733,000

178

17%

92%

227

173,100

39,289,200

24

6%

150,900

4,677,800

31

3%

91%

34

140,500

4,775,800

13

3%

170,100

5,103,500

30

3%

89%

22

152,500

3,354,900

$171,200

$23,112,900

135

81%

145

$176,200

$25,548,900

thwest IL)

318

.)

895

$107,900

$208,276,000

1,930

95%

1,811

$110,700

$200,503,000

140

16%

87,500

30,442,500

348

18%

96%

317

89,800

28,476,900

49

5%

121,300

18,552,000

153

8%

95%

130

137,100

17,825,200

186

21%

102,000

45,412,000

445

23%

95%

420

106,300

44,641,500

32

4%

143,200

11,459,500

80

4%

96%

64

165,900

10,619,200

143

16%

94,700

21,311,400

225

12%

95%

223

94,500

21,071,400

33

4%

168,600

14,672,000

87

5%

96%

69

179,900

12,415,900

60

7%

107,400

12,244,400

114

6%

94%

104

93,700

9,744,900

186

20%

109,900

39,549,800

360

19%

93%

363

116,000

42,094,000

66

7%

5%

96%

121

112,500

13,614,000

97%

2,173

$177,500

$385,710,100

97%

1,074

131,900

141,698,500

671 325

48%

124,000

14,632,300

118

$179,000

$419,618,900

2,344

138,900

166,996,300

1,202

51%

113

17%

286,300

133,695,500

467

20%

98%

486

274,000

133,153,700

25

4%

171,900

16,843,400

98

4%

96%

82

168,200

13,792,500

41

6%

236,800

27,473,700

116

5%

98%

90

254,400

22,899,300

27

4%

211,700

24,345,400

115

5%

98%

112

221,300

24,788,200

44

7%

102,000

6,836,600

67

3%

94%

60

105,500

6,330,800

96

14%

155,700

43,428,000

279

12%

98%

269

160,000

43,047,100

$206,500

$583,242,200

2,825

98%

2,605

$193,200

$503,247,300

164

18%

255,700

170,312,800

666

24%

97%

600

238,200

142,930,100

45

5%

302,600

62,639,200

207

7%

97%

172

281,400

48,406,300

83

9%

281,700

83,391,400

296

10%

99%

280

249,200

69,763,600

32

4%

153,000

10,713,200

70

2%

97%

65

138,100

8,979,700

27

3%

153,000

7,346,100

48

2%

96%

59

144,900

8,546,400

64

7%

155,500

23,019,600

148

5%

96%

135

161,100

21,749,200 25,833,400

903

41

5%

284,700

31,607,200

111

4%

97%

103

250,800

204

23%

149,800

50,933,800

340

12%

96%

352

144,400

50,822,100

26%

152,600 $108,900

143,278,900 $18,622,800

939 171

34%

MLS)

243 92

99% 94%

839 135

150,400 $118,900

126,216,500 $16,046,600

tors)

215

consin)

$130,400

$67,167,200

515

95%

486

$127,300

$61,857,800

130

60%

129,000

46,582,300

361

70%

95%

330

123,400

40,708,400

15

7%

127,400

5,350,200

42

8%

96%

38

112,400

4,270,200

18%

95%

99

144,900

14,346,300

4%

97%

19

133,300

2,532,900

58

27%

131,300

12,343,700

94

12

6%

160,600

2,891,000

18

92

$96,500

$14,668,300

152

94%

153

$102,100

$15,620,400

347

$112,400

$53,386,800

475

N/A

445

$115,000

$51,182,300

TOR Associations or their Multiple List­ing Services. Neither the Boards nor their MLS guarantee or is in any way MLS may not reflect all real estate activity in the market.) *Washington Area includes Mount Pleasant and Fairfield.

RuhlHomes.com • 5


Regional New Construction Home Sales Through December Cedar Rapids Area Houses Condos/Villas Dubuque Area Houses Condos/Villas Illinois Quad Cities (Rock Island County) Houses Condos/Villas Iowa Quad Cities (Scott County) Houses Condos/Villas Iowa City Area Houses Condos/Villas Total Regional Combined

Active Inventory 12/31/11

198 108 90 59 44 15 24 7 17 90 47 43 162 51 111 533

Active Inventory 12/31/12

137 91 46 47 37 10 27 6 21 91 48 43 159 89 70 461

Active Inventory 12/31/13

162 102 60 37 31 6 14 3 11 112 65 47 159 105 54 484

% Change in Inventory from 2012

Sales 2011

+18% +12% +30% -21% -16% -40% -48% -50% -48% +23% +35% +9% 0% +18% -23% +5%

330 217 113 58 55 3 21 9 12 207 138 69 347 173 174 963

Sales 2012

341 213 128 98 92 6 17 12 5 250 174 76 438 226 212 1,144

Sales 2013

342 223 119 68 66 2 9 7 2 255 197 58 443 247 196 1,117

% Change in Sales from 2012

0% +5% -7% -31% -28% -67% -47% -42% -60% +2% +13% -24% +1% +9% -8% -2%

Ruhl&Ruhl Realtors Invests in NAI Ruhl Commercial Company Ruhl&Ruhl Realtors and John Ruhl have joined forces to create a new commercial real estate company – NAI Ruhl Commercial Company. They acquired the assets of the former NAI Ruhl & Ruhl Commercial Company and merged in Premier Partners, the 3rd largest firm in the market. NAI Ruhl Commercial Company is the largest commercial real estate company in the region, with a 49.3% market share in 2013 and over $138,000,000 in closed sales. Their property management department, led by Laurie Peters, manages 56 properties for a total of 1,576,673 total managed square

feet. The company has 19 highly experienced real estate brokers, a maintenance staff of five, a growing property management and accounting team of seven, and four professional staff members. “We have an energized team ready to take 2014 by storm,” John Ruhl Caroline Ruhl Chris Beason President President Partner notes John Ruhl, President NAI Ruhl Commercial Ruhl&Ruhl NAI Ruhl Commercial of NAI Ruhl Commercial Company Realtors Company Company. NAI Ruhl Commercial Company is the and serving eastern Iowa, western region’s leading commercial real estate Illinois and southwest Wisconsin. We firm specializing in commercial real reach markets worldwide with our estate brokerage, consulting, corporate partnership with NAI Global, which services, property allows our agents to market properties management, nationally and internationally. development, and For further information, please visit: maintenance services RuhlCommercial.com, MyRuhl.com, with offices in the or RuhlHomes.com. Quad Cities region,

Combined Iowa & Illinois Quad Cities MLS Statistics Through December Current MLS Listings Average Sales Price Total Sales Volume Total # of Sales YTD 6 • RuhlHomes.com

2009

2010

2011

2012

2013

1,688 $138,400 $525,336,800 3,796

1,857 $141,300 $502,880,800 3,558

1,788 $137,600 $480,686,900 3,493

1,535 $147,100 $586,213,100 3,984

1,566 $146,900 $627,893,900 4,274

% Change 2012 vs. 2013 +2% 0% +7% +7%


New Housing Starts Through December Burlington Area* Burlington West Burlington Cedar Rapids Area Cedar Rapids Marion Rural Linn County Hiawatha & Mechanicsville Areas Dubuque Area Dubuque East Dubuque Galena Jo Daviess County Peosta Surrounding Dubuque Area Illinois Quad Cities Moline & Coal Valley Rock Island East Moline & Hampton Colona Port Byron Geneseo Rural Rock Island County & Milan Silvis Whiteside County Iowa Quad Cities Davenport Bettendorf Rural Scott County Eldridge & Long Grove LeClaire & Princeton Blue Grass - city of Iowa City Area Iowa City Coralville North Liberty Rural Johnson County West Branch Williamsburg, Wellman & Kalona West Liberty Muscatine Area Muscatine Muscatine County Wilton Other Areas Clinton DeWitt Maquoketa, Preston & Bellevue Washington Area* Total Regional Starts Des Moines Area**

2010 2008

2011

2012

2013

N/A N/A N/A 608 358 161 72 17 330 87 1 2 32 16 192 132 18 5 6 7 5 4 48 5 34 372 108 119 62 36 36 11 296 110 34 84 40 13 15 0 28 11 16 1 39 23 15 1 N/A 1,805

8 7 1 509 290 138 62 19 319 114 1 1 30 11 162 120 23 4 8 8 4 7 29 13 24 334 95 131 40 40 19 9 355 89 55 164 34 1 8 4 25 10 13 2 28 15 7 6 N/A 1,698

18 17 1 489 251 164 58 16 363 139 2 0 43 8 171 125 18 25 5 9 1 9 25 2 31 498 128 145 93 41 83 8 472 146 63 171 65 9 18 0 32 14 16 2 37 7 9 16 5 2,034

36 32 4 514 228 188 72 26 358 107 2 1 37 19 192 134 14 12 7 24 2 2 34 8 31 711 114 169 199 51 174 4 411 174 52 93 70 8 13 1 33 4 26 3 30 4 6 15 5 2,227

N/A

716

1,872

2,367

% Change 2012 vs. 2013 +100% +88% +300% +5% -9% +15% +24% +63% -1% -23% 0% +100% -14% +138% +12% +7% -22% -52% +40% +167% +100% -78% +36% +300% 0% +43% -11% +17% +114% +24% +110% -50% -13% +19% -17% -46% +8% -11% -28% +100% +3% -71% +63% +50% -19% -43% -33% -6% 0% +9% +26%

Source: Municipal offices. There may be additional new homes built which are not included with this data. *Burlington Area, Des Moines Area and Washington Area were recently added and little or no past data is available. **Des Moines Area is comprised of Adel, Altoona, Ankeny, Clive, Des Moines, Indianola, Johnston, Pleasant Hill, Polk City, Urbandale, Waukee, & West Des Moines.

New Home Sales Down After Slow 4th Quarter New home sales across the region, as reported in the Multiple Listing Service, fell by 2% in 2013 when compared to the previous year. A chilly 4th quarter saw sales drop nearly 16% from 2012, erasing modest sales increases through the 3rd quarter. Overall inventory levels continued a slow recovery and stood at 5% more units than at the end of 2012. For local details, see the chart on page 6. For 2013 the price breakdown for new house and condo purchases is as follows: Houses: Condos: Below $300K = 52% Below $200K = 70% $300-400K = 29% $200-300K = 24% Above $400K = 19% Above $300K = 6% House purchases increased 3% in 2013, accounting for 66% of sales versus 34% for condos, continuing a trend toward preference for houses that began in 2010. New condo sales dropped nearly 12% from 2012. Among house buyers - ranches accounted for 78% of sales, while 2 story homes made up only 15% of all sales, of those 57% were in Scott County, Iowa. New home purchases across the region represented about 1 in every 11 homes sold. Local markets vary widely, with the Iowa City market selling 1 new home for every 4.4 existing homes and Dubuque selling 1 new home for every 15.7 existing homes. Low new housing inventory still plays a key role in holding down sales. New housing starts are detailed on the chart to the left. Following is a brief summary of 2013 activity in each of the major market areas: CEDAR RAPIDS: House sales were up 5%, while condos fell 7%, leaving total sales virtually unchanged, despite an increase in inventory of 18%. New house sales above $400K increased by 155%. DUBUQUE: After an upward spike in 2012, this market saw a 31% decrease in overall sales, although sales of new houses $300-400K were up 25%. New condo sales were weak, but look to rebound in 2014, based on some new affordable product. Overall inventory dropped about 21% versus the end of 2012. IOWA CITY: The regional sales leader saw an increase of 9% in house sales and a decrease of 8% in condo sales, equating to a 1% increase in unit sales for 2013. Inventory levels are unchanged from a year ago. Condos still enjoy a 44% market share in the area, but are slowly

New Home Sales continued on page 8 RuhlHomes.com • 7


Corporate Relocation Center 5403 Victoria Avenue, Suite 100 Davenport, IA 52807 ADDRESS SERVICE REQUESTED

New Home Sales continued from page 7

losing ground to houses. House sales above $400K were up 110%. QUAD CITIES: Overall sales in Scott County were up 2% with an increase in inventory of 23%. House sales jumped 13%, while condos were down 24%, with

houses below $175K increasing 82%. Rock Island County saw sales down 47% and inventory drop by 48%. Across both counties, there were 13 existing homes sold for every 1 new home sold. House sales of $400-500K were up by 65%. 2014: Expect 2013’s 15% cost increases

to slow, but rising costs are expected to continue to fuel rising new home prices. For most of the region, we see continued caution on the part of lenders and builders, despite the fact that over 50% of homebuyers surveyed expressed a desire for a new home over an existing home.

The Largest Privately-Owned Real Estate Company in Iowa!

Find Out What Your Neighbor’s Home Sold For! The

search

way to

for SOLDs.

Jane Bauman Broker Associate (563) 441-5150

janebauman@ruhlhomes.com

Jane-Bauman.com

RuhlHomes.com is the only area website to provide information on properties that have recently sold! Get details about days on market, sale price, list price, sold date, and photos. This information is provided exclusively for Ruhl Premier Access members. Register for free today!

RuhlHomes.com/SOLDs Check Us Out Online At:

For further information or to be added to our mailing list, contact Caroline Ruhl or Veronica Pianca • 563.355.7474 5403 Victoria Avenue, Suite 100 • Davenport, Iowa 52807-3925 • CarolineRuhl@RuhlHomes.com or VeronicaPianca@RuhlHomes.com 8 • RuhlHomes.com


The Congratulations

way. 2013 Award Winners Congratulations 2013 Award Winners Top Award Winners Ruhl&Ruhl Realtors is proud to congratulate our 2013 company award winners. Thank you to all our clients for your business. And thank you to our associates and staff for your hard work and wonderful service.

2013

Our Clients Come First!

“We are committed to providing our clients their best real estate experience ever. Our agents and staff are passionate about great customer service. The Ruhl&Ruhl Difference is found in the compassion, expertise and commitment of our people.�

Mark Miller

Top Excellence in Service Award Gold Club Burlington Office ~ 319.752.9933 MarkMiller@RuhlHomes.com

Kurt Johnson

Diane Nelson

Bettendorf Office ~ 563.441.5038 KurtJohnson@RuhlHomes.com

Davenport Office ~ 563.441.5156 DianeNelson@RuhlHomes.com

Moline Office ~ 309.743.8040 GaryWilliams@RuhlHomes.com

Ken Paper

Benjamin Poock

Top Residential Associate of the Year Masters Club

Top New Associate of the Year Platinum Club

Gary Williams

Extraordinary Production Award Double Diamond Club

Caroline Ruhl President

Ray McDevitt

Top Ruhl Mortgage Associate of the Year Double Diamond Club Bettendorf Office ~ 563.441.5228 RayMcDevitt@RuhlHomes.com

Top Associate of the Year - Farm Division Double Diamond Club

Davenport Office ~ 563.441.5161 KenPaper@RuhlHomes.com

Employee of the Year IT Tech

Corporate Office ~ 563.441.5210 BenjaminPoock@RuhlHomes.com

www.RuhlHomes.com/News


Achieveme

2013 Masters Club Kurt Johnson

Triple Diamond Club

Top Residential Associate of the Year; Top Lister; Top Sales; Bettendorf Office

Tom Bracey

Top Lister; AHS Award Davenport Office

Sara Carlson

Top Lister; Top Sales; Ruhl Mortgage Award; AHS Award Muscatine Office

Connie Coster Bettendorf Office

Aaron Healey

Top Lister; Ruhl Mortgage Award; Nelson Brothers Award; AHS Award Dubuque Office

Peg Hopkins

Bettendorf Office

Jon Loquist

Top Sales; Top Referral Associate Moline Office

Sharon Tahere AHS Award Bettendorf Office

Diamond Club Kathy Louvar

Tim Martin

Ray McDevitt

Excellence in Service Cedar Rapids Office

Bettendorf Office

Sally Kent

LuAnn Lavine Moline Office

Bettendorf Office

George Granberg

Katie Hartrich

Rich Hartsock

Bettendorf Office

Muscatine Office

Moline Office

Top Ruhl Mortgage Associate of the Year Bettendorf Office

Joe Lindsay

Nelson Brothers Award Muscatine Office

Nancy McElhiney

Jill Monnahan

Janet Munck

Brent Scogland Pete Stopulos

Chris Taylor

Bettendorf Office

Bettendorf Office

Rich Hatch

Iowa City Office

Top Lister; Top Sales; AHS Award Cedar Rapids Office

Top Referral Associate Davenport Office

Bob Hilbert

Davenport Office

Top Lister; Top Sales; AHS Award Clinton Office

Excellence in Service; Ruhl Mortgage Award; AHS Award Moline Office

Marna Nowack

Ken Paper

Bettendorf Office

Top Associate of the Year - Farm Division Davenport Office

Jeff Wehr

Pam Wendt

Bettendorf Office

Moline Office

Gary Williams

Extraordinary Production Award; Top Lister Moline Office

Ron Whan

Debbie White

Lisa Lynes

Tiffany Mangler

Bettendorf Office

Wendi Ingram Stacie Johnson

Mindy Kruse Moline Office

Iowa City Office

Carole Benson / Dana Benson

Davenport Office

Emilie Blindt

Ruhl Mortgage Award; AHS Award; Community Involvement Award Iowa City Office

Kathy Carpenter

Laura Reynolds

Stephanie Rodruck

Gina Rowland / Kate Franzen

Muscatine Office

Cedar Rapids Office

Moline Office

Top Lister; Top Sales; Ruhl Mortgage Award Maquoketa Office

Gold Club Dennis Stolk

Davenport Office

Melissa Korte

Cindy VanHooreweghe Davenport Office

Mark Miller

Bettendorf Office

Top Excellence in Service Award; Top Sales; Top Referral Associate; AHS Award Burlington Office

Barb Falk

Julie Flater

Bettendorf Office

Community Involvement Award Dubuque Office

Kim Wilkins

Community Involvement Award Davenport Office

Kelley Myers

Iowa City Office

Don Gibeault

Davenport Office

Rose Wulgaert Moline Office

Community Involvement Award Cedar Rapids Office

Jolean Charlie Puchta Overton-Austin Bettendorf Office Excellence in Service Davenport Office

Darrin Huggins Beth RobertsonMuscatine Office Jackson New Associate of the Year Bettendorf Office

Janet Berger

Davenport Office

Bettendorf Office

Joe Janssen

Suzy Koelker

Moline Office

Dubuque Office

Bettendorf Office

Ray Lind

Moline Office

Mary Dircks

Cedar Rapids Office

Nelson Brothers Award Bettendorf Office

Claudia Sage

Elaine Smithson

Lisa Maller

Kathy Meyer

Community Involvement Award Moline Office

Bettendorf Office

AHS Award Maquoketa Office

Moline Office


ent

Clubs

Melissa Wegener

Double Diamond Club

Top Sales; Ruhl Mortgage Award; Nelson Brothers Award Davenport Office

Nancy Billups

Bettendorf Office

Kim Broders

2013

Ryan Anglese

Jane Bauman

Jeff Dellitt

Top Sales; Top Referral Associate; AHS Award Dubuque Office

Davenport Office

Bettendorf Office

Callie Brown

Marybeth Chupka

Gretchen Cordt

Top Lister & Sales; Top Referral Associate; AHS, Ruhl Mortgage, Nelson Brothers, Community Involvement Awards DeWitt Office

Dubuque Office

Jared Althoff

Harry Blewett

Bettendorf Office

Excellence in Service Bettendorf Office

Penny Egert Moline Office

Dan Dolan

Scott Egger Moline Office

Jim Farber

Deb Hooks

Dubuque Office

Paula Firth

Davenport Office

Bettendorf Office

Nelson Brothers Award Moline Office

Lesa Buck

Morse Burington

Barb Cartwright

Connie Larsen

Alicia Lillyblade

Top Lister; Top Sales Iowa City Office

Davenport Office

Regen Johnson

Connie Kassewitz

Davenport Office

Bettendorf Office

Brian Gavin

Stephanie Graham

Platinum Club Dubuque Office

Jane Mason Excellence in Service DeWitt Office

Sean Eckhardt Davenport Office

Dollie Means

Davenport Office

Paul Ellis

Iowa City Office

Dubuque Office

Diane Nelson

Top New Associate of the Year Davenport Office

Pat Fennelly

Davenport Office

Shueree Boley Beth Brockette Davenport Office

Otto Nobis

Davenport Office

Top Referral Associate; Ruhl Mortgage Award Cedar Rapids Office

Lisa Noel

Excellence in Service Dubuque Office

Angie Fullmer Fred Harris, Jr. Property Management Department

Davenport Office

Greg Rediger

Bettendorf Office

Pete Hatfield

Muscatine Office

Bill Robertson

Moline Office

Matt Schwind

Dubuque Office

Candy Shamsie

Bettendorf Office

Bettendorf Office

Rick Hernandez

David & Gretchen Horan

Darcy Jacks

Moline Office

Top Referral Associate Bettendorf Office

Top Referral Associate Muscatine Office

Moline Office

Cedar Rapids Office

Bettendorf Office

Steve Arp

Gary Bettenhausen

Dubuque Office

Jim Blaine

Jim Cannon

Top Referral Associate; Excellence in Service Iowa City Office

Merlin Conrad

Kate Sager

Monta Ponsetto

Cherokee Render

Bettendorf Office

Marc Simpson Nelson Brothers Award Iowa City Office

Pat Johnson

Davenport Office

Silver Club Diana Waldorf Top Referral Associate Clinton Office

Doris MosleyJohnson

Top Lister; Ruhl Mortgage Award Burlington Office

Suzi Webb

Muscatine Office

Kim Mueller

Bettendorf Office

Tammy Williams

Bettendorf Office

Bettendorf Office

Liz Nash

Ruhl Mortgage Award; Nelson Brothers Award Clinton Office

Craig Newcomb

Bettendorf Office

Chris Nixon Clinton Office

Bettendorf Office

Sheri & Greg Paper

Davenport Office

Excellence in Service Clinton Office

Moline Office

DeWitt Office

Cedar Rapids Office

Peg Cretin

Cedar Rapids Office

Bill Rose

Iowa City Office


Achievement Clubs - continued

2013

Joyce Roth

Burlington Office

Cassandra Ryan

Lisa Schaeffer Moline Office

Davenport Office

Gwen Schwindt

Debbie Sellers

Eric Bartelt

Teresa Grimes Beck

Bettendorf Office

Moline Office

David Sodemann

Bettendorf Office

Scott Spalding

Excellence in Service; Community Involvement Award Maquoketa Office

Mikki VrbanKrantz Moline Office

2013

Jake Ward

Brittni Webber

Sabrina Chandler

Annette Clevenger

Davenport Office

Dubuque Office

Bronze Club Bridgette Wedekind

Muscatine Office

Tina DeMay

Jim Williams DeWitt Office

Muscatine Office

Glenn Eakes

Kathy Fox

Jodi Furnald

Moline Office

Davenport Office

Moline Office

Dan Konrardy

Jerry Lancaster

Muscatine Office

Dubuque Office

Randy Richter

Steve Riojas

Phyllis Roxlau

Bettendorf Office

Bill Ramsey

Muscatine Office

Moline Office

Kim Latta

Cedar Rapids Office

Clinton Office

Bettendorf Office

Ann Gavin

Terry Beert

Betttendorf Office

Davenport Office

Davenport Office

Austin Maas

Scott Olinger

Cedar Rapids Office

Holly Lovell

Maureen Linnabery

Muscatine Office

Marie Schulte

Janel Shimak

Burlington Office

Nelson Brothers Award Cedar Rapids Office

Iowa City Office

Stan Goodyear Linda Grunder

Burlington Office

Moline Office

Sherry Berrier

Cedar Rapids Office

DeWitt Office

Tricia Shy

Davenport Office

Moira Brown

Bettendorf Office

Davenport Office

Bettendorf Office

Dubuque Office

Stephanie Huggins

New Associate of the Year Muscatine Office

Bettendorf Office

Beth Parker

Theresa Patrick

Bettendorf Office

Tracy Smyser

Jude Steil

Heather Hawkinson

Cedar Rapids Office

Moline Office

Raymond Sickles

Davenport Office

New Associate of the Year Cedar Rapids Office

Sandra Kaas

Randy Peters

Community Involvement Award Bettendorf Office

Additional Award Winners Pam Stewart Community Involvement Award Clinton Office

Beth Hartman

New Associate of the Year Burlington Office

Denny Wachs Iowa City Office

Lisa Waste

Nelson Brothers Award; Community Involvement Award Burlington Office

Marlys Marko

Top Referral Associate Corporate Office

Kris Whalen Clinton Office

Jessica Maxwell Top Referral Associate DeWitt Office

Hillary Walker Moline Office

Dustin Plemmons

Excellence in Service Muscatine Office

Nettie Willey

Bettendorf Office

Benjamin Poock Employee of the Year Corporate Office

Anna Wilson Cedar Rapids Office

Chris Schneider Nelson Brothers Award Ruhl Mortgage Bettendorf Office

Kathy Winner

Ashley Bollaert New Associate of the Year Moline Office

Dubuque Office

Tammy Sloan New Associate of the Year Iowa City Office

Samantha Spooner

New Associate of the Year Clinton Office

Angie Weikert Community Involvement Award Muscatine Office


Jane bauman