Adel Residential Tax Abatement Update

I wanted to provide an update on the residential tax abatement program in Adel. For years 2011, 2012 and 2013 the city has offered a program that abates 100% property tax for a period of 7 years. The Adel city council just extended the program another three years for 2014,2015,2016. The program has been very successful at adding additional rooftops to the city and as a result the three existing residential subdivisions – Evans View, Parkview Heights and Baileys Grove have totally sold out of lots. Since the abatement has been extended, plans are underway to develop additional homesites. In the meantime, we do have lots available that have been purchased by Well Built Homes and Barnett Construction.

This is an example of a single-family home that we have available in the Parkview Heights neighborhood:

Home Details

We also have some very nice townhomes available in the Evans View neighborhood that also offer the 7 year abatement and no association dues:

Home Details

Please contact me if you would like information on the above homes, available upcoming lots or want more information on the 7-year tax abatement.

New Tax Credit For Iowa First-Time Home Buyers

Iowa Finance Authority announced a great new program this week to put money back in the hands of homebuyers. The Take Credit! Mortgage Credit Certificate provides for an up to $2000 per year tax credit for the life of the mortgage. So essentially you would receive $2000 towards your tax liability. If you liability is zero, you should receive a refund. The money that you receive back effectively reduces your mortgage payment by the amount you receive which in this case ($2000/12) is $166 per month.

As always there are restrictions and limitations. The program is targeted towards first-time homebuyers, veterans and those living intargeted areas. From the IFA website:

  • Applicants must meet Iowa Finance Authority income limits, which vary by county.
  • The purchase price of the home may not exceed $305,000 if located in a Targeted Area or $250,000 if located in a Non-Targeted Area.
  • The home must be located in Iowa.
  • The home buyer must meet one of the following: be a first-time home buyer, purchase a home in a Targeted Area, or be a military veteran who has not previously used a mortgage revenue bond program.

In Polk county, the income limits are $75,000 income for a 1-2 person household and $86,825 for 3+ people living in a household.

This is a great program that makes housing more affordable for many people.

Please contact me if I can provide you with more information or connect you with an approved lender.

Welcome to our updated website

KevinHowe.com logoIf you are a returning visitor, you have probably noticed that KevinHowe.com has been upgraded to a new WordPress theme. We are excited about the new look and additional features to make shopping for a home even easier. Some of the additions include:

  • New mortgage and affordability calculators
  • Current mortgage rates
  • Latest new listings on the Community pages
  • School information on the Community pages
  • User login on the Search pages
  • Addition of Walk Score information on the listing results page
  • Nifty social media sharing icons

Coming soon, update real estate market information on the greater Des Moines area.

We would love to get some feedback on the new design, please leave your comments in the box below .

If you are a return visitor, you have probably noticed that KevinHowe.com has been upgraded to a new WordPress theme. We are excited about the new look and additional features to make shopping for a home even easier. Some of the additions include:

New mortgage and affordability calculators
Current mortgage rates
Social media icons
Latest new listings on the Community pages
User login on the Search pages

New Website Feature – Des Moines Foreclosure Search

We just added a new feature to kevinhowe.com, the ability to view bank-owned foreclosures online. The searches are organized by price-point and contain all the of bank-owned (REO) properties listed in the Des Moines MLS. This includes Des Moines and the surrounding areas. You can browse the listings and get more information on opportunities to purchase foreclosure homes here:

Des Moines Foreclosure Properties

We are happy to be able to offer this capability as a reliable means of identifying REO homes for sale. If you perform a Google seDes Moines foreclosure properties for salearch for Des Moines foreclosures, you will find many companies that claim to offer similiar properties. Unfortunantely the information is often out of date or unreliable.

The homes are segmented by price into two groups, those listed below $100,000 and those listed below $100,000.

Feel free to browse the listings. If you would like to get new foreclosure listings forwarded to you via email the same day they are listed just contact me and let me know which areas and price-ranges you are most interested in.



Des Moines is named #1 most livable city

MSN just released an article on the top Most-Livable Bargain Markets. Des Moines was named #1. The article sited the number of jobs available in financial and agribusiness, the stable economy and the low median price of housing ($150,000).

While we all know that these are tough economic times (even here) it’s nice iStock_000009189135XSmallto hear that Des Moines may be fairing better than most. It also reinforces what most of us that live or have lived in Iowa know – the quality of life is high. We offer great schools, low crime, easy commutes, a great sense of community and friendly people.

MSN did mention that our climate can be less than ideal at times but that just proves that Iowans are tough!

You can find the article here:

http://realestate.msn.com/slideshow.aspx?cp-documentid=22334217&GT1=35000#2

Where are the Des Moines real estate bargains?

As the Des Moines real estate market continues to pick up steam, one of the questions that gets asked frequently is “Where are the best buys?”. Typically when most people think of bargains, they think short sales and foreclosures. While there are a lot of these properties available ( and will continue to be for the foreseeable future ) there is another overlooked area – unfinished new construction properties.  I have seen a number of these over the past few weeks that are being offered at well below the cost to build a similar home.

Most of these homes are technically foreclosures or short sales and in most CB067787cases you end up negotiating with a lending institution. However unlike traditional foreclosures you have an opportunity to purchase a home in new condition.

In the Des Moines metro area most of these homes are priced in the $300,000+ price range and are in various stages of construction. In almost every case the homes are enclosed and secured with the exteriors completely to partially finished. On the interior they could be just through framing stage all the way to almost completed and just require floor coverings, counter-tops etc.

The options for completing construction vary depending on the specific property. On some homes the builder is willing to complete construction and close just like any other transaction. In other cases the buyer would be responsible for getting a construction loan and hiring a contractor to finish the project. In this case there is additional effort required by any potential buyer to secure financing, get estimates and hire a contractor.

If you are interested in receiving  more information or exploring the possibilities, please let me know.

The Yin Yang of the Des Moines Homebuilder Show

I had an opportunity to tour the annual Des Moines Area Homebuilders show last weekend. As usual there was an impressive selection of homes priced yinyangfrom the $500,000 to $1,000,000+. It’s always a great way to see new building products and trends.

I believe that all but one of the homes was sold.The Yin Yang is that it’s a reflection of the market that  most builders would not commit to building homes in this price-range without having a committed buyer. However it’s very encouraging that their are still plenty of buyers purchasing at the homeshow price-points.

Congratulations to Scott and Stephanie Denton of DentonHomes for building another original and innovative home and receiving the Best of Show award.