July 2017 – Mel Foster Co Blog

Housing Shortage Benefits Sellers

Posted on July 27, 2017

It’s currently a seller’s market, with housing supply down significantly in the local area. The shortage of inventory is the main reason why sellers are doing so well in the current market and getting higher offers for their property. Plenty of homebuyers are demanding homes, but don’t have as many options to choose from as they did in the past. Low demand simply means higher sales prices.

In the U.S. roughly 900,000 new homes are available for sale per year, but the demand is for approximately 1.5 million homes. This shortage in the supply of homes gives sellers the advantage when putting their home on the market. Combined with low interest rates, this shortage of housing supply is causing many homes to be sold quickly and competitively, often at a higher than market value price.

Housing experts speculate the shortage will continue for at least four more years even if home construction numbers increase. The supply can’t keep up with demand now that millennials are the largest home buying group in America. The large unmet demand for housing is continuing to grow with no signs of slowing down.

Curious what your home might be worth? Click here to connect with an agent and receive a competitive market analysis.

MEL FOSTER CO. AGENTS RANKED REAL Trends AMERICA’S BEST

Posted on July 15, 2017

Mel Foster Co. is pleased to announce that several of their agents have been named as one of America’s most productive agents as a part of REAL Trends America’s Best Real Estate Agents, the ranking report produced by REAL Trends and sponsored by The Zillow Group.

REAL Trends America’s Best Real Estate Agents ranks over 12,600 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2016. All production numbers are independently verified by a third-party in order to ensure accuracy and report integrity. “This group of highly successful real estate sales agent represents less than 1 percent of all real estate practitioners in the United States,” says Steve Murray, publisher of REAL Trends America’s Best Real Estate Agents and president of REAL Trends.

To qualify for inclusion, an individual agent must have closed at least 50 transaction sides, compared with the industry average of 8.6, or $20 million in closed sales volume in 2016. This ensures that only the best of the best are included on the prestigious list.

The rankings are complied based on survey from virtually every national branded network, many state and local associations of Realtors®, multiple listing services, all applicants from past years’ rankings, and the 1,600 largest brokerage firms in the United States.

The real estate agents are ranked in two categories:

Individual agent – Sales volume
Individual agent – Transaction sides (in each real estate transaction there are two sides that can be represented by a real estate agent; the buy side and the selling side)

For Individuals by Volume, in Iowa, two Mel Foster Co. agents ranked in the top ten:

Brad Boeye, Kimberly Road office, ranked #8
Geri Doyle, Davenport I-74 office, ranked #10

For Individuals by Sides, in Iowa, seven Mel Foster agents ranked out of 119:

Lucky Lang II, Davenport I-74 office, ranked #17
Brad Boeye, Davenport Kimberly Road office, ranked #27
Geri Doyle, Davenport Kimberly Road office, ranked #54
Mary Leslie Douglas, Clinton office, ranked #66
Sara Smith, Davenport I-74 office, ranked #67
Dan Schneckloth, Davenport I-74 office, ranked #104
Scott Kelling, Davenport I-74 office, ranked #115

For individuals by Sides, in Illinois, seven Mel Foster Co. agents ranked out of 267:

Diana Franks, Geneseo office, ranked #52
Paula Nabb, Moline office, ranked #155
Peggy Tossell, Kewanee office, ranked #170
Chuck Ross, Galesburg office, ranked #190
Sara Varner, Galesburg office, ranked #203
Jennifer Evans, Galesburg office, ranked #227
Rhianna Schroeder, Galesburg office, ranked #243

“Having our agents recognized on REAL Trends America’s Best Real Estate Agents list, shows Mel Foster Co. agents are dedicated to their industry, their business and their clients. They are part of an elite group of real estate agents across the country,” said Lynsey Engels, Mel Foster Co.’s President Real Estate Brokerage.

About Mel Foster Co. Real Estate

Founded in 1921, Mel Foster Co. is a real estate leader in Eastern Iowa and Western Illinois serving Davenport, Bettendorf, Moline, Rock Island and the surrounding Quad City area. It is one of Iowa’s largest independently owned real estate companies. Mel Foster Co. Real Estate specializes in residential and commercial sales and offers services for a broader spectrum of property transactions including farm and land, land development and management, relocation and new construction. Visit www.melfosterco.com for more information.

About REAL Trends

REAL Trends is a privately-held, Colorado-based publishing, consulting and communications company specializing in the residential brokerage and housing industries. Recognized as the leading source of trends in the industry, REAL Trends, The Trusted Source, also publishes the REAL Trends The Thousand, as advertised in The Wall Street Journal and the REAL Trends 500, which ranks the top brokerage firms in the United States. Visit REAL Trends at www.realtrends.com.

Zillow is a registered trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, LLC. These marks are used with permission.

Cool Energy Saving Tips

Posted on July 10, 2017

With the weather heating up, it’s tempting to crank up the air conditioning. Unfortunately, this will also crank up your energy bill, so follow these tips to stay cool and save money.

Clean or Replace Air Conditioner Filters

Be sure your cooling system is running at peak efficiency. If your filters are dirty and blocked, you’ll be using more energy and getting less cool air. Cleaning the filters won’t only result in cleaner air, but also a more efficient system. You’ll be breathing cooler and cleaner air for less money.

Keep Windows and Blinds Opened and Closed at the Right Time

Keeping the blinds and windows closed when the sun is beating down is an extremely easy way to keep your home cooler. But if you like having fresh air, try to only open windows at night or in the early morning before the heat and humidity rise. Having the windows open rather than running the A/C a no cost way to keep your home a little cooler while still enjoying the summer weather.

Only Use Air Conditioning if you are Home

It might be refreshing to always come home to nice cool house, but running air conditioning 24/7 can be very expensive. Turning off the air while you’re at work will end up saving you money each month. Many thermostats have scheduling features or smart phone connectivity so you can activate air conditioning at a specific time.

Use Fans to Circulate Air

Using fans to keep air moving is one of the best ways to keep cool. You’ll save energy, and be able to control the speed of the air flow. This will help cool air disperse more evenly throughout your home, and keep energy costs down. Remember to switch your fan’s direction to counterclockwise in the summer to create cool downward airflow