new construction in Bettendorf – Page 7

Mel Foster Co. Supports A Hungry Challenge

Posted on February 1, 2016

Mel Foster Co. is proud to participate again in the QC Community Hunger Drive Corporate Challenge. The competition kicks off today and runs through February 28.

Each Mel Foster Co. office is conducting an internal food drive and collecting donations of money and/or canned food items for the Student Hunger Drive. In last year’s corporate challenge, Mel Foster Co. collected 25 pounds of food per person in the company and was honored with a first place award in its division category. Its insurance division won the Mel Foster Co. internal competition for a second year in a row.

“Mel Foster Co. agents and staff look forward each year to this competition to help fight hunger in our community,” says Lynsey Engels, President of Brokerage Division of Mel Foster Co. She added, “We are proud to be one of the thirty participating companies partnering with the River Bend Foodbank to elevate community awareness while contributing to fighting hunger in eastern Iowa and western Illinois.”

MEL FOSTER CO. CELEBRATES 2015 RESULTS

Posted on January 29, 2016

Mel Foster Co. held its annual awards reception last night at the Quad Cities Waterfront Convention Center in Bettendorf, Iowa. Rob Fick, President & CEO, Lynsey Engels, President Real Estate Brokerage and Marc Engels, President of Mel Foster Insurance, presented awards to 114 agents who were recognized for achieving membership in the company’s different sales club levels including Chairman, Executive, President and Honor. Top honors were awarded to:

Thad DenHartog – Commercial Top Sales

Diana Franks – Residential Illinois Top Sales

Brad Boeye – Residential Iowa Top Sales

Mike Smith – Insurance Top Producer

The year 2015 in residential real estate was marked by steady growth with increases in both existing home sales and prices. The average 2015 sales price for Mel Foster Co. residential real estate was $161,303, an increase of 5.5 percent from last year. Mel Foster Co. closed transactions per agent was up 6.6 percent from 2014 and overall volume increased by 5.9 percent from 2014. New construction continued to be solid in the Quad Cities market in 2015. Mel Foster Co. residential real estate has a strong presence in the new construction market, offering multiple subdivisions to meet the demands of new construction buyers. Lynsey Engels said, “The local new construction market will continue to see significant gains in 2016, based on the level of new construction starts in 2015 and expected availability of new lots this year. We will open 50-100 lots in Bettendorf and Eldridge in 2016.” Mel Foster Co.’s average new construction sale price remained about the same in 2015 at $387,077.

Several noteworthy achievements were celebrated by the residential division in 2015. Mel Foster Co.’s Geneseo office became the second location to receive a boutique style remodel. The renovated space embraces technology and is configured to meet the changing needs of agents and the clients they serve. The Galesburg office was remodeled in 2014 and was featured as the office of the week in Real Trends, a national real estate publication, in November 2015. The office will undergo an expansion this year to accommodate its recent growth. To the north, Mel Foster Co. welcomed former Mills Realty as they added a new location in Savanna, Illinois.

The brokers for Mel Foster Commercial Real Estate Services closed 267 transaction sides, averaging $313,192 in sales volume per transaction. Totaling $97 million in commercial sales volume in 2015, four of the brokers finished in the top 15 of the CMLS. Lynsey Engels praised the commercial division saying, “We are thrilled with our continued growth in the commercial market. 2014 and 2015 have been our largest years since 2005.”

Mel Foster Insurance continued to grow it’s footprint in the Quad Cities as a trusted Independent Insurance Agency. Marc Engels commented, “Our value proposition to the region continues to be a hands on customized insurance experience based on each client’s unique needs. Our employees work hard each day to deliver on that promise and our clients reward us with over 95% retention.” In 2015, results remained strong as direct written premium grew 5.1 percent, policy count was up 4.3 percent, and the division added 713 new clients. With a range of product offerings from Personal and Commercial Property/Casualty to Employee benefits, Mel Foster Insurance saw positive contributions from all departments this past year. Marc Engels stated, “Guided by the industry’s Best Practices we will continue to invest in innovative technology to improve the client experience. We realize we still have a lot of opportunity in the Quad Cities and that is exciting.”

As a whole, in 2015, Mel Foster Co. welcomed 29 new agents and staff. Eager to see what success lies ahead for Mel Foster Co., Rob Fick said, “We will continue investing resources into technology, placing emphasis on recruiting and training of new and existing agents, and offering exceptional education programs and tools. Sales of new and existing homes are expected to accelerate in 2016 and our agents are off to a productive start already in the new year.”

Winter Home Improvements Lead to Lower Utility Costs.

Posted on January 24, 2016

Save money on your utilities by tackling these smaller improvements this winter.

Appliances

January is a great month to buy appliances. Retailers are trying to move last year’s inventory before new models are introduced. For every energy-efficient appliance you add to your home, you’ll save anywhere from $50-$100 annually. Time your purchases right for deep discounts and save money on your utility bill. In addition to the cost savings, you’ll have reliable appliances you can depend on for many years.

Insulation

Make sure your insulation is in top shape, especially in the basement, attic and garage. Studies have found insulation purchases have over 100 percent price recuperation if you decide to sell your home. Not only will it add value to your home in the long run, your energy bills will be lowered almost immediately.

Landscaping

Winter months are the perfect time to start planning your outdoor designs. According to the Chicago Botanic Garden, in winter there is less chance of transmitting diseases from one plant to another or attracting insects to fresh pruning wounds. By planning your spring planting now, you’ll get a jump on your spring chores. By the summer, your pruned trees or new plantings will be shading your yard and padding your pocket in the form of lower utility costs.

Cut Your Taxes.

Posted on January 24, 2016

Tax time will be here before you know it. When filing your taxes, don’t forget about any home-related deductions you can take. Talk to a tax expert if you have questions.

Mortgage Interest Deduction

To obtain the mortgage interest deduction, your mortgage must be secured by your home. Interest you pay on a mortgage of up to $1 million, or $500,000 if you’re married filing separately, is deductible when you use the loan to buy, build, or improve your home in any way.

Prepaid Interest Deduction

Any interest you paid during the time of signing your mortgage is almost 100% deductible in the year you paid it, along with any other mortgage interest paid. If you refinance for a 10-year mortgage, paying $6,000 in interest, you can then deduct $600 per year.

Property Tax Deduction

When you pay your real estate property taxes, you can usually deduct these from your tax return. If you bought a house this year, check your HUD-1 settlement statement to see if you paid any property taxes when you closed on your home.

Is a Reverse Mortgage Right for You?

Posted on January 15, 2016

Reverse mortgages are a great way for senior homeowners to generate a steady flow of income, or receive an immediate lump sum for expenses, if you qualify and determine this is the right option for you.

A reverse mortgage works exactly how it sounds. The bank pays you an upfront lump sum, monthly distributions, a credit line or a combination of all three. The upside is you don’t have to pay back the interest accumulated on the loan during your lifetime, unless you move out of the house.

To qualify, you must be at least 62 years old and own, or nearly own, a house. You also have to make sure your house is in good condition and have no other outstanding loans. If you meet these criteria, a reverse mortgage might work for you.

Be sure to consider the entirety of costs involved in getting into the agreement. Interest is accumulated over the course of the agreement, and when you move or pass away, interest is owed to the bank. The interest is deducted from your estate.

If you’re planning on leaving a substantial amount of money from your estate to friends or relatives, consider how much is going to be deducted due to the reverse mortgage interest payment.

Ask a preferred mortgage lender at University of Iowa Community Credit Union (UICCU) about a reverse mortgage, or contact the trusted lender of your choice.

Sell your Home Now or in the Spring?

Posted on January 10, 2016

Many homeowners feel it’s a good idea to wait until the spring to sell their home. But once the busy holidays are over, it might be time to get your house ready to sell before competition heats up in the spring. Here are four appealing reasons you should consider listing soon.

Serious Buyers are Available

Homes are sold 365 days a year. People move into the area, expand their families or decide to downsize at all times of the year. There are always homebuyers looking for their dream home. And it might just be your listing.

Less Competition

There are typically more listings in the spring, so list your home in the winter to stand out in the crowd. By avoiding the tougher competition in the spring, your home is more likely to be visited by prospective buyers during showings, giving you more exposure than you’d receive in the spring.

Mortgage Rates are Still Low

If you’re interested in buying and selling property, you probably keep a close eye on mortgage rates. And noticed the recent uptick. Even with the recent increase, mortgage rates are still very low.

A Faster Transaction

Finally, the time required to close on a home will most likely be shorter in the winter. Inspectors have fewer appointments, attorneys have less work to do and mortgage lenders have fewer loans to process. You’ll most likely be able to have meetings on your schedule instead of theirs and get to closing faster. One of the most frustrating things as a seller is not getting answers or having to extend closing another 15 or 30 days. Winter gives you more control over the closing date and may save you from making an additional mortgage payment.

Looking for an agent to list your home this winter? Click here to find an agent or office near you.

Tips For Refinancing Your Mortgage.

Posted on December 29, 2015

Refinancing your mortgage creates a great opportunity to lower your interest rate, but don’t forget these other tips when refinancing.

Change your mortgage length

If you’ve recently come into a different financial situation, consider switching the length of your mortgage. If you started with a 30-year mortgage and have a stable financial situation, a 15-year mortgage will save you more money in the long run. You won’t be paying as much in interest, and you’ll build equity faster.

Switch to a Fixed Rate

Adjustable rates are tempting due to their lower introductory rates, but changing to a fixed rate may be better in the long term. Fixed rates offer stability, allowing you to manage your budget more accurately.

Consider a Cash-Out Refinance

Want a potentially lower interest rates plus extra cash? A cash-out mortgage refinance might be right for you. If you owe $80,000 on your $150,000 home, you can refinance the loan for $100,000 and receive a check for $20,000. Use this money for wise investments like home improvements, education, healthcare or investing. Otherwise, you might end up just taking on more debt.

Consolidate Two Mortgages

When refinancing mortgages, find out if it’s possible to consolidate any previous mortgages you have. When interest rates are low, it’s often possible to pay less under one mortgage than you were before. One mortgage rate is easier to manage than two, and you’ll be saving yourself money.

Talk to a lender at University of Iowa Community Credit Union (UICCU) or a qualified lender of your choice to review your refinancing options.

How To Compile A Home Inventory.

Posted on December 14, 2015

Take an inventory of your home belongings

Creating an inventory of your home’s contents is important, not only for insurance purposes, but also for creating peace of mind. It helps verify what items you own in case you suffer a loss due to fire, a natural disaster or burglary.

Make a list of all the items you own that are important to you. Electronics, jewelry, artwork, family heirlooms and furniture are items you want to insure. Once you have the list, add the serial numbers, brands and estimated costs for each item to show proof of ownership. It’s a good idea to take photos of your items to show their condition.

Once you’ve collected this information, store it in several safe locations. One copy of the information should be sent to your Mel Foster Insurance agent, another should be stored on your personal computer. It’s also important to have another version stored on a USB drive kept outside of your home or use cloud storage. The cloud is highly recommended because there are free services accessible from any computer.

You can never have too many copies of this information. Physical copies are also a great idea because they’re so reliable. Getting a safe-deposit box at your bank, or investing in a fireproof safe are perfect ways to protect your information in case you can’t access the information anywhere else.

Click here to contact a Mel Foster Insurance agent for help in getting your home inventory started.

Guide For Finding The Right Listing Agent.

Posted on November 30, 2015

You’re ready to sell your home. You want top dollar, a fast sale and a great real estate listing agent. The best way to find the right agent is to interview three and ask these questions.

How much will my house sell for?

The three agents should be fairly close in their estimates. Beware of an agent who is suggesting a price that seems high compared to the other two prices. This may be a ploy to get your listing and usually ends in disappointment.

How will you market my listing?

Mel Foster Co. agents have a wide range of marketing tools available including local and national online sites, an app and more traditional vehicles like newspapers, magazines and flyers. Choose the agent who you feel will do the most to market your home.

Do you have a specialty?

If you’re a millennial first time buyer, an agent who specializes in seniors may not be the right fit for you. Also ask what listings each agent has in your desired neighborhood.

What do you expect of me?

This is where you’ll get honest feedback about your home. A great agent will have no reservations telling you to do some paint touch up or have your carpets professionally cleaned. Your agent should offer staging ideas that will help your home attract more potential buyers. An agent who is sincerely interested in working hard on your behalf will have recommendations to get your home open house ready.

Click here to find an agent or office and get started with the listing process.

Three Things Your Agent Can’t Tell You

Posted on November 17, 2015

If you’re moving to a new town or even just across town to a new neighborhood, you may unintentionally ask your real estate agent questions that legally he or she cannot answer. Fair housing laws restrict your agent from answering what may seem like honest questions. But your agent can guide you to resources where you can gather the data you are seeking.

Is this a good neighborhood?

Seems like a pretty basic question, but the classification of “good” could mean a host of things. Is it a question about crime, walkability or proximity to amenities? If crime is your key concern, the web is filled with comparative sites that allow you to look at two cities side by side and form your own opinion.

Are the schools good?

There are a number of independent websites where you can find rankings, test scores, graduation rates and other academic benchmarks. For each major city served by Mel Foster Co., a link is available with additional listings for public and private schools. Click here to link to the communities page.

Is it cheaper to live in Iowa or Illinois?

This is a much more complex question that is best answered by your income tax advisor who is familiar with your situation. Click here for broad information about both states and specific communities.