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Davis County Realtors

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Davis County Realtors
105 E. Locust
Bloomfield, IA 52537
Phone: 641.664.2224
Fax: 641.664.3520

Licensed in the state of Iowa

Category: News Archives - Davis County Realtors

  • July 4th Celebrations

    June 30, 2020

    THE FIRST FOURTH OF JULY CELEBRATIONS WEREN'T MUCH DIFFERENT THAN TODAY'S.

    Our founding fathers also liked fireworks! Read this newspaper clipping from 1777!

     July 18, 1777 issue of the Virginia Gazette describes the July 4 celebration in Philadelphia:

    "The evening was closed with the ringing of bells, and at night there was a grand exhibition of fireworks, which began and concluded with thirteen rockets on the commons, and the city was beautifully illuminated. Every thing was conducted with the greatest order and decorum, and the face of joy and gladness was universal."

    Celebrating the 4th of July, Independence Day

    Davis County Realtors always wishes our family and friends to know the face of joy and gladness!!

    Happy 4th!

    Resourcehttps://www.mentalfloss.com/article/502369/fourth-july-facts

    Read More

  • Can I Afford a House Payment?

    February 25, 2020

    How much house can you afford?

    Evaluate your current monthly cash flow, decide just how big of a house payment you can swing. Realize it will include not just principal and interest but also property taxes and insurance. One rule of thumb suggests that your housing expense should stay between 25% to 36% of your take-home pay. So if your family brings home $5,000 per month after taxes, your mortgage payment, including taxes and insurance, should be between $1,250 and $1,800. Keep in mind, just because you can theoretically afford a higher house payment doesn't mean you should. Consider, too, that the size of your house will impact your bottom line well beyond your payment. For example, more rooms mean more furniture, more upkeep and higher heating and cooling costs. This is a great article from USAA.COM, if your thinking of buying a home go to their website and read the complete article. Read More

  • Why It Pays to Work With A Realtor

    January 30, 2020

    Are you thinking of buying or selling a home on your own? Consider all the steps you'll personally have to complete.

    • Determine how much you can afford
    • Price existing home without the input of a market expert
    • Check credit report
    • Arrange home and pest inspections
    • Negotiate terms of sale or purchase, including repairs or concessions
    • Find attorney to draft contract
    • Put existing house on market
    • Review and approve contract
    • Get signed contract to seller
    • Choose mortgage lender
    • Hire attorney or title company to complete closing research
    • Schedule appointments to show current home or to see new ones
    • Host open houses to sell existing home
    • Decide where to advertise to reach best potential buyers
    • Hire surveyor to survey property
    • Find home with all the features you want
    • Order title search
    • Investigate school system
    • Research neighborhoods and local amenities
    • Review and approve closing costs
    • Analyze comparable home sales and make offer on a new home
    Consider offers for current home
    • Conduct final walk-throughs of home
    • Meet home and pest inspectors for review of current home
    • Coordinate closing with lender, title company and customer
    • Review and sign closing document
    Whew! Are you tired yet? It pays to work with a realtor, helping you smooth the way.
    • Davis County Realtors will be glad to help to help in this process!!
    Read More

  • Winter Driving

    January 16, 2020

    Hey Friends, the weatherman says it is going to be an icy, snowy mix Friday! Here are some driving tips from AAA to help us all!

    Tips for Driving in the Snow

    • Stay home. Only go out if necessary. Even if you can drive well in bad weather, it’s better to avoid taking unnecessary risks by venturing out.
    • Drive slowly. Always adjust your speed down to account for lower traction when driving on snow or ice.
    • Accelerate and decelerate slowly. Apply the gas slowly to regain traction and avoid skids. Don’t try to get moving in a hurry and take time to slow down for a stoplight. Remember: It takes longer to slow down on icy roads.
    • Increase your following distance to five to six seconds. This increased margin of safety will provide the longer distance needed if you have to stop.
    • Know your brakes. Whether you have antilock brakes or not, keep the heel of your foot on the floor and use the ball of your foot to apply firm, steady pressure on the brake pedal.
    • Don’t stop if you can avoid it. There’s a big difference in the amount of inertia it takes to start moving from a full stop versus how much it takes to get moving while still rolling. If you can slow down enough to keep rolling until a traffic light changes, do it.
    • Don’t power up hills. Applying extra gas on snow-covered roads will just make your wheels spin. Try to get a little inertia going before you reach the hill and let that inertia carry you to the top. As you reach the crest of the hill, reduce your speed and proceed downhill slowly.
    • Don’t stop going up a hill. There’s nothing worse than trying to get moving up a hill on an icy road. Get some inertia going on a flat roadway before you take on the hill.
    • Visit their website to watch some very good videos on winter driving.
    • https://exchange.aaa.com
    Read More

  • Renewable Energy

    January 3, 2020

    Found a great blog on renewable energy. Did you know 8% of the worlds energy is produced by solar panels and wind turbines? Go this article to learn more. moxiworks.com/blogs/real-estate-technology-trends Read More

  • Closing Costs

    December 10, 2019

    What Are Closing Costs?

    According to Trulia,
    When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”
    For those who buy a $250,000 home, for example, that amount could be between $5,000 and $12,500 in closing fees. Keep in mind, if you’re in the market for a home above this price range, your costs could be significantly greater. As mentioned before,

    Closing costs are typically between 2% and 5% of your purchase price.

     Trulia gives more great advice, saying,
    “There will be lots of paperwork in front of you on closing day, and not enough time to read them all. Work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time. The most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You’ll get this form about three days before closing since, once you (the borrower) sign it, there’s a three-day waiting period before you can sign the mortgage loan docs. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your real estate agent is a great resource for getting you all the answers you need.”

    Bottom Line

    Reach out to your lender and a local real estate professional to discuss the homebuying process, to be sure your plan includes budgeting for what you need to purchase your dream home – without any surprises!
    Resource: Keeping Current Matters.Com

    Read More

  • Selling and Buying a Home in Winter

    December 3, 2019

    Here is a great article from Dave Ramsey about selling your home in the winter. Curl up with a blanket and cup of warm beverage and enjoy the read! https://www.daveramsey.com/blog/selling-your-home-in-winter Read More

  • Mortgage Rates

    November 7, 2019

    How Interest Rates Work on a Mortgage

    by Joy Toltzis Makon Buying a home with a mortgage is probably the largest financial transaction you will enter into. Typically, a bank or mortgage lender will finance 80% of the price of the home, and you agree to pay it back—with interest—over a specific period. As you are comparing lenders, mortgage rates and options, it’s helpful to understand how interest accrues each month and is paid.

    Mortgage Payment Calculation

    Simply put, every month you pay back a portion of the principal (the amount you’ve borrowed) plus the interest accrued for the month. Your lender will use an amortization formula to create a payment schedule that breaks down each payment into paying off principal and interest. The length, or life, of your loan, also determines how much you’ll pay each month. Fully amortizing payment refers to a periodic loan payment where, if the borrower makes payments according to the loan's amortization schedule, the loan is fully paid off by the end of its set term. If the loan is a fixed-rate loan, each fully amortizing payment is an equal dollar amount. If the loan is an adjustable-rate loan, the fully amortizing payment changes as the interest rate on the loan changes. Stretching out payments over more years (up to 30) will generally result in lower monthly payments. The longer you take to pay off your mortgage, the higher the overall purchase cost for your home will be because you’ll be paying interest for a longer period.

    Conventional Fixed Rate Mortgages

    A conventional loan provides opportunities for financing loan amounts that are within the conforming limits set by Fannie Mae and Freddie Mac. With a fixed-rate mortgage, you have predictability and peace of mind with the same principal and interest payments for the life of the loan because the interest rate never changes.

    Product Rate APR Payment
    10 Year Fixed 3.250% 3.442% $1563.51
    15 Year Fixed 3.375% 3.508% $1134.02
    20 Year Fixed 3.875% 3.983% $959.07
    30 Year Fixed 4.000% 4.078% $763.87
    Read More

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