North Iowa Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market news, statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 19, 2020

Mason City IA Real Estate for Sale:1634 8th St SW Mason City IA 50401

Mason City IA Real Estate for Sale:1634 8th St SW Mason City IA 50401


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RARE OPPORTUNITY. Family home that has had only 2 owners. Amazing open floor plan with rooms that flow into each other. Oversized living room with wood burning fireplace & built-ins. Main floor family room with vaulted ceiling currently being used as the formal dining that walks out to decking and patio area. The lower level features an additional family room and 2 bedrooms. Appliances will be staying including washer & dryer. This home has been updated throughout - Maintenance free newer steel siding, dishwasher this year, Pella and Anderson windows. Ready for you to move right in! You will be proud to call this one HOME. Give us a call today!

June 17, 2020

Northwood Iowa Real Estate For Sale-500 10th Street S Northwood IA 50459

Northwood Iowa Real Estate For Sale

500 10th Street S Northwood IA 50459


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Searching for a well maintained in town acreage? LOOK NO FURTHER! Fabulous ranch home that sits on 1.61 acres just south of Northwood on a gorgeous tree lined street. Beautifully landscaped yard surrounds the property. The main level is larger than you think…living room and dining room with big windows, eat-in kitchen with built-ins and desk space featuring newer laminate flooring with a slider to the rear patio just off the dining area. Bonus of laundry on the main floor just off the garage and half bath. Down the hall has three bedrooms and a full bath with plenty of storage. Lower level has endless possibilities with two large family/rec room areas as well as a huge storage/utility room with shower stall and sink. Storage shed located out back in the sprawling yard. Worth county residents eligible for the post-secondary school from the WCDA (over $9000 per student last year) along with other great scholarships. This one will not last long, call TODAY to make this your NEW HOME!

July 17, 2019

10 Things to Check When Buying a House in North Iowa

Buying a new home is a big undertaking. Whether you are looking for a house in Mason CityClear Lake, or somewhere else in north central Iowa, there are certain things you should take into consideration to ensure you get the best home for the best possible price. It's vital that you know the important things to check when buying a house before you start looking, so you'll be ready when you think you've found your dream home.

There are many things that you need to take into consideration when viewing houses for sale. If you come prepared with this list, you will have a good start on knowing what to look for when buying your new house. Of course, you are not an expert, so the final tip, which suggests getting a home inspection done before actually buying, is crucial for ultimate success.

Check out these tips and heed them closely. A few extra minutes inspecting these important aspects of a home can save you a lot of time and money in the future.

things to check when buying a house

10 Things to Check When Buying a House in North Iowa

When viewing houses for sale in north Iowa or anywhere, there are certain things you should consider before falling in love with a house and making an offer. Don't make any snap decisions when home shopping; take your time and make sure a house is right for you and is in good shape so you don't end up with a money pit.

Decide what you want and what you don't want.

Before you even set out on your home buying mission, you need to first determine exactly what you seek. Think about your dream home and its features. Take some time to make a list of your needs and wants, but also be realistic with your budget in mind. Also, consider the things you absolutely must have and the negative factors that would be dealbreakers for you.

Think about how many bedrooms and bathrooms you really need and will use. If you do a lot of cooking, you may want a larger kitchen than you would if you do not. Storage is another important factor to consider; do you have a lot of things to store and how many closets do you need?

Whether or not you want a multi-story home is another consideration. Climbing stairs frequently can be difficult or even just annoying for some people. Do you want a lot of privacy and silence, or would you enjoy being on a main thoroughfare with lots of action and activity?

If the home you seek has a yard, how big of a yard do you want, and how much of a grade is too much? Schools and neighborhood amenities can vary from place to place, so it's often helpful for you to do some extra research in that realm to learn more about a specific area.

No matter what size or style home you would like, these are all important things to think about before house hunting. Armed with this information, you will already be able to narrow your search somewhat, and therefore experience more rapid and satisfying success.

Smelly houses stink!

When visiting potential homes that interest you, follow your nose. If a house has any weird smells, that might be your cue to get out of there without going any further. Scent can be very intrusive, and it's often hard to identify, and even harder to eliminate. Smells like smoke, mildew, and pet accidents can permeate surfaces and may remain long after the culprit has disappeared.

If a house smells too nice, on the other hand, that may be suspicious also. Realtors often use pleasant ambient smells to help them to sell homes, but if the scents seem too pervasive, then it's possible they are trying to cover something up. Beware.

Look for signs of lazy maintenance.

If you can see signs of laziness in a home's maintenance, it's likely that there are other problems that are not visible to the naked eye. Leaky faucets, peeling paint and unmanicured landscaping shows that the previous owner didn't care too much about his or her home.

As a result, you can probably also guess that they didn't bother with many of the larger required maintenance jobs, like checking the roof for leaks, cleaning the chimney, and changing air filters on schedule. Each of these things is crucial for proper upkeep of a residence, and their slacking will cause you eventual problems down the road.

Water is a homeowner's worst enemy. 

It rains in north Iowa, and it snows. There are times of the year when it seems like there is water everywhere. If water gets inside a home and into places where it shouldn't be, it can cause major problems.

Water can get into a house in a variety of ways. Although a pond or creek on the property can look visually appealing, it can also be a source of flooding in the future. The grade of the yard can also result in water coming into the home during intense spring rains or during snow melts. A leaky roof, cracked windows, old caulking, and outdated plumbing can also lead to leaks and flooding as well.

Some water damage will be visible and obvious, but other damage may be hidden behind walls or fresh coats of paint. Look for small black spots, rust and water stains, bubbling wallpaper or a musty odor. Water damage can quickly lead to mold, and mold can cause serious health problems in children and the elderly; it is often costly to remedy and it can get worse fast.

Test the temperature.

You will want to be comfortable inside your home no matter what the weather is like outside, so checking out the heating and cooling system in a home is essential. Insulation is expensive, so making sure a home is well insulated before buying it will greatly improve your defense against cold Iowa winters. Good windows can decrease your heating and cooling costs by keeping warm or cool air inside, so be sure to check them out too.

Don't let cosmetic enhancements fool you.

Although some of the special touches a homeowner added to their home might be eye-catching, remember that they may have been done to fool you. A new coat of paint may be covering up mold spots, and a fancy light fixture may be there to draw your attention away from the fact that the dining room is far too small for entertaining. If an area rug seems out of place, check underneath; it may be hiding a stain on the carpet or hardwood below.

Be aware of air flow.

One thing many home shoppers overlook is checking for proper ventilation, but it's so important. If air is not moving around the house smoothly, then the stagnant air may encourage the settling of dust or the growth of mold. These things can lead to allergies that may bother you and your family.

In order to check for good ventilation even when all the doors and windows are closed, look closely for condensation, especially on the windows. You may also be able to spot bubbled paint or wallpaper which can also indicate trapped moisture and a lack of air flow.

The roof, the roof, the roof is important.

Obviously having a strong roof is a structural necessity for a happy home. Find out how old the current roof is and ask how much longer it should last. Roofing is not cheap, and if you have to replace it soon after purchasing a home, it could be an expense you didn't plan on. 

It may be hard to tell from the ground, so get up there if possible and look more closely. Loose shingles, obvious holes, and dips in the structure are all bad signs. On the other hand, if you have a good roof, you may end up paying less in homeowner's insurance; a strong roof to protect you against Iowa's hail, ice and snow in the winter will help you to fortify your home overall. 

Foundation is key.

Every house needs a strong foundation. If the foundation is weak or crumbling, the whole house is at risk for disaster. A faulty foundation may not be visible from the outside of the home, and without help, you may have trouble identifying foundation problems.

However, there are a few clues that indicate a foundation issue is evident. Sagging floors, crooked walls and tiles, and dips in ceilings all may give away a weakened foundation. If you're unsure, take a marble and set it on the floor; if it rolls without help, you may have a problem.

Have any home you may want to purchase thoroughly inspected.

This cannot be stressed enough. Even if you believe you have found your dream home and everything looks good to you, enlist the help of a professional home inspector to confirm your assessment. He or she may see things you have missed and is trained to find problems that a seller may be trying to hide. It's better to find out before buying that a house has major issues than it will be to learn about them sometime down the road.

Happy House Hunting

All of these tips will help you to check out a home that interests you without investing too much time or money before buying. Look out for red flags and remember that there are always other houses to consider if the first one you like doesn't work out. Being careful during the home shopping process will ensure that you are much happier and better off down the road. 

If you are looking for a great realtor to help you on your home buying journey in northern Iowa, look no further than Jane Fischer & Associates. We are ready, willing, and able to answer your questions and offer our guidance to you every step of the way, and no one knows north central Iowa like we do. Please contact us today to find out more; we are waiting for you. We will help you determine even more things to check when buying a house, so soon you can start living in your new home.

Posted in Iowa News
June 28, 2019

10 Brilliant Tips for Buying Land in Mason City IA

You've been running yourself ragged trying to buy a new home. You've lost count of the homes you've seen. By now, you scoff at home-buying reality shows in which a buyer sees three houses and picks their favorite.

If there's always something missing when you tour homes for sale, why not start from scratch? The only way to get everything you want in a house may be to buy land and build a new home.

This may sound like an easier route, but that doesn't mean you should take it for granted. If you're buying land, follow these tips to help you find that perfect parcel.

Buy Mason City Land

Tips for Buying Land

Mason City is in the middle of an upswing, and many residents are getting in on the ground floor by buying land. If you're taking that route, don't forget these essential tips.

1. Don't Skimp on Your Real Estate Agent

Some people make the mistake of thinking that when your buying land alone instead of land plus a house, there is less to negotiate. They believe this makes for an easy sale, so why spend money on a real estate agent?

This can be a serious mistake. Buying land is still an important purchase that can come back to bite you financially.

real estate agent can make sure you're getting a good deal on the land. They can also ensure that your contracts protect you well and follow standard practices rather than containing fine print "gotchas."

Your best bet is to hire a real estate agent who specializes in land sales. They'll know how to guide you through the process and advocate on your behalf.

2. Don't Buy a Liening Tower

One of the most important ways to research property is to find out if it has any property liens.

A lien essentially turns the land into involuntary collateral for an unpaid debt. One of the most common reasons a property could have a lien is because the current owner has unpaid tax debts.

In this case, the creditor must petition the court who can agree to place a lien on the property.

If you find the perfect piece of land but it has a lien, it doesn't necessarily mean you have to walk away. It can complicate the process though, so your real estate agent can review the details and give you guidance. 

3. Get In the Zone

If you aren't familiar with real estate, you may not give zoning a thought. If land is your property, you should be able to build whatever you want on it, right?

Not quite. Each property is zoned for a specific purpose, like residential or commercial.

There is a common trend in cities for real estate developers to turn old industrial areas into trendy residential neighborhoods. In areas like this, you may find that your land is zoned for commercial use.

It is possible to rezone your property for the purpose you want. However, it adds a long and tricky process to your build. There are no guarantees that your local zoning board will grant your request, either.

This is another question for your real estate agent. They'll be able to see how the property is zoned and counsel you about whether they think you could rezone it successfully.

4. Get Your Own Survey

A land survey is a crucial part of doing your due diligence before buying land. What if the current owner had a survey done last year, though? You can trust that survey, right?

Hold your horses.

There are two problems with this. First, you don't know anything about the previous surveyor. You have no way of knowing whether their work is trustworthy.

Second, you don't have the legal right to rely on that survey.

When an owner gets a land survey, the certificate only guarantees accuracy to them because their name is on the certificate. If you find out that this survey is inaccurate, you have no legal recourse against the surveyor because they only guaranteed accuracy to the previous owner. 

Instead, always get your own survey and make sure it lists your name on the certificate.

5. Bring In a Builder

The whole purpose of buying land and building a new home is to get the exact features you want. It would be heartbreaking to buy a plot and then discover that it won't accommodate your dream home.

If you've already selected a builder and house plan, have the builder look at the property you're considering. There may be restrictions you aren't aware of, such as the distance you need between your home and the edge of the property.

Your builder will be able to tell you if a parcel of land is suitable for the home you've chosen.

Even if you haven't chosen a plan yet, bring out a builder anyway. They can tell you the types of limitations you'll face with any particular property. This could be a dealbreaker or it can guide you as you select your house plans in the future.

6. Insure That Title

Everyone knows about homeowner's insurance. If you're a first-time buyer, though, you may not know about title insurance.

In a nutshell, title insurance protects you from problems dealing with the property purchase. This could include liens on the property, undisclosed defects in the land, and even survey disputes.

As with any type of insurance, there are varying levels of coverage based on how much you pay. Your real estate agent can advise you about the level of coverage you'll want with any particular piece of land.

7. Evaluate the Pros and Cons of Tear-Downs

Buying bare land isn't the only way to get bare land. If you're having trouble finding the parcel you want, you could expand your search by looking at properties with tear-down homes.

Before you do this, though, make sure you weigh the pros and cons. Being open to a tear-down could give you far more options. It could also save you money if there are parts of the home you can re-use, like the foundation or sewer system.

On the other hand, it could cost you more money in the long run.

It costs money to demolish a house. If that old sewer system and foundation aren't usable, it will also cost money to remove them before you can replace them with new ones.

It's all a matter of how much hassle and expense you're willing to go through for the perfect location.

8. Find Out About the Road Maintenance

Some people assume all roads are public property and that their city or state maintains them. It's a rude awakening, then, if you buy land and discover that you're responsible for the road that accesses it.

In some subdivisions, you may need to use a private road to access your home. This means you and your neighbors are responsible for maintaining the road, including snow removal and repairs.

As you're researching a property, find out whether it comes with that added requirement. This may not be a deal-breaker, but you need to know what you're signing up for.

9. Channel Your Inner Fortune Teller

We know you can't predict the future. You can get some solid clues by knowing how to inspect a property, though.

Certain features can point to future problems on your land, especially when it comes to the weather.

For instance, let's say your property is at the bottom of a hill. That hill has little vegetation to anchor the dirt. If you get a heavy storm, this could cause a dangerous and damaging mudslide.

Another common problem to watch for is a flood risk. If your land is lower in the area where you plan to build your home, you're putting yourself at risk for flooding.

This doesn't mean you should pass up any parcel that isn't perfectly level. However, it could mean that you should consider taking protective measures.

A retaining wall may keep you safe from mudslides. It may be worth your expense to level your land to avoid flooding. You might always choose to buy specialized insurance like flood insurance.

10. Learn About the Neighbors

No matter where you are, neighbors make the neighborhood. Sometimes they can make a neighborhood miserable.

Take a look around to see if there are any neighbors that may make life harder at your new property.

For instance, if you're surrounded by farms, you could be dealing with some smells and pesticides. If you're next to a wooded area, find out if local hunters tend to frequent that woods.

If your parcel is surrounded by other empty plots, it's a good idea to find out if any of them have been purchased. If a pig farm just bought the next plot over but hasn't built yet, you might choose to move along.

Making Your Dream Home

There's a saying in real estate that the three most important factors are location, location, and location.

It's true that location is crucial and that Mason City has plenty of great plots of land to offer. However, there are many other factors you need to consider in your search too. Use the tips above to find the perfect place for your dream home.

To start looking for properties, check out our Mason City real estate listings.

Posted in Iowa News
June 17, 2019

How to Choose a Real Estate Agent For Selling in North Iowa

Forget the rumors that homes aren't selling like they used to. That's complete BS. If the data from the National Association of Realtors is anything to go by, over 5.3 million existing homes were sold last year nationally.

Even more, another 667,000 new constructions were also sold in the same year. This makes a total of almost 6 million homes sold in 2018. That's huge!

What does that tell you? It's simple. The housing market is booming. More people are buying homes, which means you can sell your home for a profit.

Whether the sellers are getting a good deal though is another subject entirely. But, if you're in the market to sell and would like to get the best deal, you should make finding an agent first your priority.

In fact, it's best to allow a seasoned agent to handle the transaction. Real estate agents are seasoned at this kind of thing, and will often get you more money than you could've gotten.

It's what they do. So, they know how to help you get the best value on your home. But you need to choose the right one. In this article, you'll learn how to choose a real estate agent for selling your home. 

Finding an agent, however, is not an easy task. Sure, you can just google them, but how are you sure they know their onions? That, right there is the problem.

Good news is we've got you. Here's what you need to do to pick the right real estate agent.

how to choose a real estate agent for selling

Gather a Few Leads

Let's start with what you know: Google. Go do a search for real estate agents in your local area. This is the easiest way to start. Go through their websites and profiles, and select about 5-10.

You can also ask for referrals from friends and family that have had their houses sold successfully. Posing as a potential buyer and attending open houses is also a great idea. This way, you get to meet agents on the job.

This will give you an insight into how they'll sell yours when the time comes. Good news is you can easily look up open houses close by, and go see them in action. 

Ask Them Questions

After selecting your top candidates, it's time to assess them to see if you're a good match. Some of the questions you should ask include the following:

How long have you been selling homes? Do you have experience selling my type of home? how many homes have you sold successfully? What's your communication like? How much do homes go for in my neighborhood? How do you handle difficult prospects? 

All of these questions are incredibly important, particularly the one about the buyer. Some home buyers can ask so many questions that the agent will get frustrated.

You want to make sure that your real estate agent can remain professional at all times. In fact, watch their reactions while you're asking them these questions. 

If they're calm and professional throughout, then you know you've got one who understands their job.  

Do a Background Check

Depending on how you look at it, this might either be a little snoopy or come across as you doing your due diligence. But, it's incredibly important and will save you from a ton of stress in the future. 

Look them up on their state regulatory boards website and verify their licenses. Visit the Association of Real Estate License Law Officials (ARELLO), type in their names and see if they pop-up. 

Also, see if they have any professional qualifications, or if they've won any awards in the past. Also, many real estate agents are usually members of their local realtor association. Check with the association to see if they have a good reputation with them. 

Look them up online. Pay attention to verified reviews from reputable sites and services like Houzz, Yelp and Google reviews. The more authentic reviews you have, the better. 

If you have any doubts, just go with Yelp and Google reviews. These are mostly authentic and devoid of shady reviews. These platforms have quality control teams that track every review to see if their legitimate or not. 

So, you can trust most reviews on these platforms. You might also want to ask around from those who recommended them. In many instances, you can actually contact the reviewers to verify their claims. 

Also, visit message boards and forums in your state or local neighborhood. Pay attention to frequently mentioned real estate agents. Those with a lot of positive reviews are usually the real deal.  

Determine if You Want an Individual or a Team

The fourth step in this how to choose a real estate agent for selling article is, ascertaining if you want to work with one person or the company team.

Both have their pros and cons. But, if you're looking to keep more of your proceeds, an individual agent is always better. 

Lookout for Specific Skills

Such as the ability to create proven marketing plans, help negotiate better deals, get your listing more exposure and the ability to see your home objectively.

This way, they can actually point out some failings in the home and suggest viable solutions to them. Listing your home isn't enough. You need to add the "'sizzle" that will make your home sell really quickly.

Real estate agents know how to sell homes. They're experts at going through your home and identifying what changes you need to make to attract even more buyers. 

They're trained to see what you can't. More importantly, they know how to stage a home so it's very appealing to potential buyers.

Your real estate agent should be one that's well versed in not only getting your home staged, but also getting the requisite exposure for you.

The more people you have viewing your listing and making an inspection appointment, the higher your chances of getting that home sold quickly. Real estate agents know how to get your property in front of those people. 

They're also very good at negotiating the best deals for you. It isn't unusual for homeowners to undervalue or overvalue their properties. In fact, most base their selling prices on the average price of properties within their neighborhood.

While this is a good yardstick, the reality is there's more to it. A real estate agent knows how to properly value your home, so you have a more realistic projection.

And if they need to suggest some upgrades to help sell the property faster, they will. When they do, you should actually listen and do it. They're usually great at pointing out cheap upgrades that'll easily attract an extra $30k to $50k for you. 

Negotiate With the Agents

Once you're done with the above, you need to talk about price and commission. The going rate is anywhere from 4.5-6 percent. That means anywhere from $29,250 to $39k for a $650k home. That's a lot.

The good news is you can negotiate to a more reasonable 2-3 percent. Many real estate agents will be willing to go this low if it's worth it.

So, don't just take whatever commission percentage they offer you. It's that way so that when you negotiate, they can come down and still get handsomely rewarded.   

Talk to them About Selling Strategies

How do they intend to promote your home? Do they have a popular website? Are they going to just promote on Craigslist, Redfin, and Zillow?

Will they be using the Multiple Listing Service? Do they have an active social media profile with decent engagement? Will they run paid ads for your house?

These are some of the details you need to hammer out when it comes to selling and promoting your home. 

Also, your real estate agent also knows the average sale period or duration in the market. So, you should ask them how long it will take to sell the property. Of course, this can take time.

How fast your home sells depends on the state of the market in your area, your location, how much you're listing for, how much you're willing to take and so on. They know that most buyers have to consider how much they can afford before buying. So, they tend to price the home fairly. 

Is That All on How to Choose a Real Estate Agent for Selling Your Home?

Now that you know how to choose a real estate agent for selling your home, you should be able to find a good one very quickly. If you do it right, you should be able to find a capable one in less than a week. 

If you live in North Iowa and Mason City and need more help with finding an agent, check out this guide from Mason City Realtor Blog. 

Posted in Iowa News
May 28, 2019

5 Amazing Attractions That Will Make You Want To Move To Clear Lake, Iowa

Iowa is the eighth-best place to live in America. While Des Moines gets most of the glory, Clear Lake Iowa is the real gem in the Hawkeye State.

Are you itching to move? Looking for a town known for safety, schools, and quality of life?

People move to Clear Lake for all sorts of reasons. It’s a top destination for retirees and the perfect town to raise a family. You get plenty of nightlife and entertainment while also being enclosed by nature.

Not quite sold yet? Keep reading for the best reasons to move to Clear Lake, Iowa.

Clear Lake Iowa homes for sale

1. Spend Time Outside

Clear Water is the opposite of a concrete jungle. You won’t find invasive skyscrapers or air pollution from extreme traffic. But, it’s not sleepy either.

Instead, you’ll find a gorgeous lake, plenty of trails, and people who love spending time outdoors. If you enjoy an active lifestyle, Clear Water is for you.

Here are some of the most notable outdoor sites to check out in Clear Water.

Central Gardens of North Iowa

The Central Gardens of North Iowa are comprised of 2.75 acres of nature and outdoor space. It's the home of stunning water fountains, luxurious gardens, and amenities for rent.

Take pictures in the gazebo or learn about the gardens at the Nature Education Pavilion. It’s the perfect setting for formal pictures and family days.

The Gardens hold many events each month for the residents of Clear Lake. At Fresh on Fridays, visitors can take home flowers from the gardens. Volunteers bundle the bouquets each week.

You can also attend plant sales, the Garden Fiesta, picnics and performances, and more. Check out their calendar for a full list of monthly events.  

Get Out on the Lake

What’s the point of living by a lake if you don’t take advantage of it? You don’t have to own property directly on the lake, there’s plenty of public space.

To start, try your hand at sailing. If you’ve never done it before, consider taking lessons at the Clear Water Yacht Club Sailing School. Feel the wind in your hair as you whiz past the kayakers and paddle-boarders.

In the summer months, hop on board the Lady of the Lake. This stunning yacht cruises guests around the lake in 90 minutes. Join one of the public outings or book the cruise for your private event.

And, of course, you can swim in the lake during warm months. The sand is soft and the sand bar shallow enough for little ones. More comfortable swimmers can jump off the dock and swim out to the deep sections.

Hit the Greens

Are you an avid putter? Do you refuse to move anywhere that doesn’t have its own greens? Rest assured, Clear Lake has amazing golf courses for aficionados.

There’s Oak Hills Par 30 Public Golf Course which has challenging slopes but superb drainage. Even when other courses are soaked from the rain, Oak Hills is good to go.

Veterans Memorial Golf Club has bluegrass fairways, a pro shop, and a clubhouse. Become a member to enjoy the perks that come with this course. By the way, the clubhouse has a full bar that's perfect for day-drinking.

These are both excellent spots to work on your swing and participate in tournaments. For the less serious golfers, there’s also a Disc Golf course and Mini-Put course. Enroll your children in golf lessons or blow off some energy for fun.

Camping, Biking, and Hiking

Clear Lake State Park is 55 acres of rolling hills and lakeside beauty. This park has ample space for all your favorite outdoor activities.

There are trails for biking and hiking, and a sandy beach for swimming. It’s got excellent fishing spots as well as over 10 acres of picnic grounds.

The wildlife in Clear Lake State Park is extensive. Expect to see raccoons, owls, deer, and opossums. It’s a great opportunity to teach your children about nature and wild animals.  

It’s also one of the most popular camping destinations in Iowa. There are modern restrooms and 180 campsites in total. Reservations go fast so make sure you book yours in advance!

You can camp in Clear Lake three out of the four seasons. In the winter, the temperature can drop as low as 35 degrees Fahrenheit. Professional outdoor enthusiasts may brave the cold, but most campers wait until spring.

2. Eat to Your Heart’s Desire

No one goes hungry in Clear Lake, Iowa. There are too many mouth-watering options for every meal. And, the cost of food here won’t break the bank.

One of Clear Lake’s shining stars is the Starboard Market. Locals make weekly visits to this quaint establishment for incredible soups and sandwiches. It’s highly recommended that you try the cheesy cornbread soup.

The ambiance is cottage-chic. It’s a small venue so you might find yourself in conversation with neighbors and other locals. It’s truly a cornerstone of Clear Lake.

For a romantic dinner by the lake, head to The Landing Patio Bar & Grill. Enjoy some crispy calamari as you watch the sun go down. You can even arrive via boat and tie it up to their dock.

It’s also the perfect venue to celebrate birthdays, anniversaries, and graduations. Take some pictures in front of the water, just don’t fall in.

Sometimes, the only thing that’ll hit the spot is a big bowl of pasta. For those days, locals go to GeJo’s By the Lake Italian Restaurant & Lounge. This casual dining spot only serves authentic Italian dishes.

You can sit indoors in the Italian-decorated restaurant. Or, sit on their dock patio that overlooks the lake. Both offer great ambiance, excellent service, and the best Italian food you’ve had in America.

3. Shop ‘till You Drop

The local economy in Clear Lake is going strong, thanks to all the amazing local businesses. Every necessity and luxury you could ever want to buy is available in town.

Downtown has a collection of boutique shops with unique, one of a kind finds. It’s the perfect place to find custom gifts and locally made and sourced goods.

Among these boutique shops are antique stores and vintage retailers. It’s hard to find good antiques; Clear Lake is an American hotspot for stunning finds.

For window shopping and killer deals, check out the outlet malls just outside town. You’ll find all the staple brand names in your closet for a fraction of the price.

4. See the Landmarks

There’s a reason Clear Lake attracts so many out of town visitors. The landmarks and attractions here are fun and fascinating.

One of the first stops you need to make is to the Freedom Rock. You’ve likely seen these rocks sprinkled across Iowa. They’re painted to honor and bring awareness to veterans.

Clear Water’s Freedom Rock sits at the corner of 8th and Main.

The second place you should plan to see is The Surf Ballroom. This is a legendary and historic concert venue that's hosted many famous performers. Everyone from The Beach Boys to The Temptations has played here, just check out the Wall of Fame.

One of the most famous acts to play here is Buddy Holly. In fact, the plane crash that killed him is on Gull Avenue. Visitors from all over the world stop at this site to see his gravestone and glasses.

Lastly, the Clear Lake Fire Museum is a must-see, especially for kids. Learn about the fire history of Clear Lake and see some of the historical equipment. Chat with the firemen and marvel at relics.

5. Entertainment and Nightlife

We all like to let loose once in a while, and Clear Lake has the establishments to do so! There’s no shortage of nightlife and entertainment here.

If you’re in the mood for a box office hit, go to Lake Theater. You can see the latest Marvel flick or a rom-com tear-jerker. Plus, you can even rent the theater for private events.

In the summer, take your film buff friends to Movies in the Park. Watch your favorite cult classics under the stars and in the grass. Make sure you bring lawn chairs, blankets, and a cooler of beverages.

Located in City Park, the Bandshell hosts many events year-round. See concerts, live music, dance performances, and more. It’s an outdoor venue so bring your sunscreen or sweaters.

For classic rock tunes, check out Surf District Rock n’ Roll Grill. Besides getting mouth-watering burgers and fries, the music is awesome. Live rock bands perform here as well as indie acts, adding to the hole-in-the-wall ambiance.

Interested in Moving to Clear Lake, Iowa?

As you can see from the list above, there are tons of reasons to move to Clear Lake, Iowa. It has a perfect mix of fun and entertainment, and nature and tranquility. Children, retirees, and everyone in between can enjoy this vibrant town.

Are you interested in making the move to one of the best towns in America?

Jane Fisher & Associates can help you find your dream home in Clear Water. Browse our extensive listings and start the home-buying process.

Posted in Iowa News
April 1, 2019

Finding Your Dream Home: 10 Tips for Touring Houses for Sale in Clear Lake, Iowa

More than 5.5 million homes are sold in the U.S. each year. And before many of those millions of buyers made their decision, they toured the home.

Even as virtual tours and online marketplaces become more popular, nothing beats an in-person to visit your potential future home.

You get to see, touch, and experience the property. You can open cabinets, sit on the front porch, look out the windows, stand in the shower; everything you can do to imagine yourself living in the home.

But home tours aren't all fun and games. If you've never been on one before, they can be intimidating. And if you don't make the most of them, you're wasting your time even visiting a home.

Keep reading to learn 10 tips for touring houses for sale in Clear Lake, Iowa.

houses for sale in Clear Lake, Iowa

1. Let Your Realtor Do Their Job

Starting your house-hunting adventure is exciting.

Suddenly, every house you see is a potential home. Driving through neighborhoods, every 'for sale' sign that you see have you slowing down your car to examine the landscaping, check out those picture windows, and maybe jot down a contact number.

But while you definitely should take down that number and make note of the address, don't pick up your phone just yet.

If you've decided to work with a Realtor, like 90 percent of buyers and sellers, initiating your own home tours is a big mistake. 

If you aren't working with a Realtor, you have no choice. Unfortunately, you'll be faced with taking a tour while the homeowner hovers. You'll be in the awkward situation of asking about or deciphering the details about a property.

Then, if you do decide to make an offer, you'll be at a disadvantage. Homeowners expect Realtors to know what a home is worth and what the market is like, and will be less likely to try to mark up the price above what it's worth.

If they think you're inexperienced, the homeowner may automatically feel like they have the upper hand, and the price may reflect that.

Your Realtor knows the in's and out's of negotiating, investigating, and finding the perfect home for you. If you've found a home that your Realtor didn't mention, you should pass the address and contact information along to him or her.

If the home is within your search area, you'll likely find that your Realtor has already considered it for you, and found that it didn't match one of your criteria anyway!

2. Don't Let Small Details Make You Blind to Big Issues

Before you ever step foot in a home for a tour, you should have a list of your needs and wants. Some of those 'wants' are likely minor and are things you could easily add to home after you've bought it, like new appliances or a large porch.

But 'needs' are often tougher to change.

Maybe your family needs a certain number of bedrooms. Or you have your heart set on an open floor plan.

If a home doesn't have one of the things you need, you may not be able to do anything to change that.

When you start touring homes, it's important to keep those needs in mind, and not let minor details or wants to cloud your judgment.

3. Lay Off the Caffeine

A long day of house hunting will certainly take its a toll.

But before you swing by your local coffee house to grab the largest cup you can get your hands on, think twice. When the inevitable urge strikes, you'll be left using a strangers bathroom in whatever home you're touring.

If the homeowner is still living there, you're in the somewhat awkward position of using their toilet and toilet paper. If the house is unoccupied, the awkwardness might be gone,  but the toilet paper may be as well.

It's perfectly acceptable to use the bathroom in a home that you're touring if you need to. However, if you know you'll be going to several homes, the last thing you want to do is have to keep going constantly.

Plan in stops for snacks and something to drink at restaurants or coffee shops in between. While touring houses, stick to water to stay hydrated to cut down on bathroom breaks.

4. Open Everything

Some first time home buyers feel shy during their tour, especially if the homeowner is still living there.

But if you don't open up closets, cabinets, and other doors, you won't get the full picture of what the home is like or how it might work for you.

Homeowners and Realtors expect you to look at everything before you can even think about making an off on a house. And they want you to make that offer, so make sure that you're opening every door you see! 

Take note of the storage space and layout so that you can consider what it'd be like if your family had to store your own belongings there.

5. Pack a Tape Measure

If you plan to bring your furniture with you when you move, measure the big pieces, like your bed, couch, or entertainment center.

Then, pack a tape measure when you go on home tours. 

You don't want to buy a home, find out your furniture doesn't fit, and then have to buy new. This could set you back thousands of dollars that you weren't planning to spend.

6. Rethink Your Outfit

You aren't going to be able to really pay attention to a home and all of its little details if you're sweating through your shirt or shivering.

While it may seem unrelated, what you wear for a home tour is important. You should always dress in a way that keeps you comfortable and relaxed.

There's no need to dress up for your Realtor or the homeowner showing you space. Instead, casual clothes that you won't mind wearing all day as you climb stairs and explore the basement is the best choice.

Your footwear is equally important.

If a home has new carpet or if it is currently empty, odds are that you'll be asked to remove your shoes. Even if you aren't, removing them at the door is a great way to show your respect for the homeowner or selling Realtor.

Shoes that need to be tied or that are difficult to remove will leave you struggling at the door. Some Realtors will provide slip-on covers that you can put over your shoes. But these are often slick and can make climbing stairs or walking across hardwood floors a hazard.

Instead, opt for slip-on shoes or flip flops that you can easily slip on and off as needed.

7. Judge a Book By its Cover (At Least a Little Bit)

When it comes to a home's exterior, there are some things you can overlook and others that you should take as warning signs that something may be wrong.

Landscaping can easily be groomed. Garage doors, while expensive, can be replaced. You can even repaint or replace the siding on the front of your home, though it will set you back several thousand bucks.

But a roof that looks old or damaged, cracked foundations, a crumbling front porch, old windows, or a driveway that's covered in cracks and turning to gravel around the edges are all indicators of major, very expensive repairs.

In some cases, a bad roof or a damaged foundation can be major enough problems that you might struggle to get approved for a mortgage after the home inspection is complete.

8. Visit Homes at Different Times of the Day 

If you've found a home that you really love, and you have the time, visit the neighborhood at different times of the day.

The neighborhood you're moving to can be as important, or even more important, than the house itself.

You'll want to check out the traffic flow and the atmosphere of the neighborhood early in the day, in the evening, and even at night.

The last thing you want to do is buy a home and then find out that your morning commute will be double what you were expecting. Or that the neighborhood becomes questionable after dark.

9. Stay Neutral During the Tour

During your home tour, if the homeowner or other potential buyers are present, keep your discussion of the home and its features neutral.

There are two downsides to voicing your opinion, especially in front of the homeowner or the Realtor selling the property.

If you love a home and express that, you'll love some negotiating power because the homeowner knows that you're serious about buying. But if you trash a home, then make an offer, a homeowner might be tempted to take an offer from a different buyer out of spite.

Whether you're a first time home buyer or a repeat purchaser, keeping your opinions neutral is an important skill to learn.

10. Look Past the Decor

This may be the toughest tip to follow during a home tour. But paying too much attention to the current owner's decor and belongings will only prevent you from noticing the bones of a home.

If you choose to buy, you'll get to start with a fresh slate that you can paint, decorate, and arrange however you'd like. Make sure that the blank slate is what you're picturing while you're wandering your potential future home.

Shop Houses for Sale in Clear Lake, Iowa

Now that you've learned what you need to know about touring houses for sale in Clear Lake, Iowa, it's time to start scheduling some visits of your own.

Start searching for homes for sale in Clear Lake today!

Posted in Iowa News
Feb. 7, 2019

A First Time Home Buyer Iowa Guide to Grants and More

Are you ready to leap into homeownership?

If you're like many people, obstacles are standing in your way. Maybe a downpayment of ten to twenty percent is unattainable. Perhaps your credit score only qualifies you for a mortgage with poor loan terms.

Recognize these challenges? Fear not. If you are a first time home buyer in Iowa, these hurdles don't have to trip you up.

Whether you need help with the down payment or flexible lending options for low-income or low-credit buyers, the state of Iowa has you covered. Cities, banks, associations, and the federal government all offer options for Iowa's first time home buyers.

Is the perfect program for you out there? Keep reading to find out more about your options including homebuyer assistance in Mason City, Iowa.

First Time Home Buyers

Mortgage Assistance: Iowa Finance Authority Programs

The first stop on our journey through Iowa's first time home buyer programs are two programs provided by the Iowa Finance Authority: FirstHome Program and Homes for Iowans Program. The programs feature both conventional loans and federal government loans, and both include 30-year, fixed rate mortgages.

You can use these programs anywhere in the state of Iowa including Mason City.

For the program's purposes, a first-time home buyer is a person:

  • who has not owned their primary residence in the past three years, or
  • who is a military veteran who has not previously used a mortgage revenue bond program
  • who intends to buy a home in a Targeted Area

You can enroll in the FirstHome Program if you are a first time home buyer purchasing a primary residence in Iowa. It's available to you if you are an Iowan or if you are moving to Iowa and intend to buy for the first time.

Are you a repeat home buyer? The Homes for Iowans Program opens up homeownership for both first and second time home buyers buying a place to call home in Iowa. 

The primary benefits of the Iowa Finance Authority's programs are the relaxed rules and restrictions compared to conventional mortgages and other government programs.

It works for people who earn low-to-mid incomes who would otherwise struggle to save for a downpayment.

You won't be asked for a minimum down payment, and the mortgages typically have lower interest rates and fewer fees than the typical loan.

It's also an opportunity to take out a conventional loan with only a three percent down payment.


To qualify for First Home, you must be a first time home buyer and the limit of your home purchase price is $271,000. Income restrictions exist, but they vary according to county and household size.

Homes for Iowans raises the purchase ceiling to $331,000. It also features a strict household income limit of $121,800 regardless of whether you are a first time home buyer or not.

In addition to being a first time home buyer as defined by the program, you must also meet the following eligibility requirements:

  • Minimum credit score of 640
  • Maximum debt-to-income ratio 45 percent
  • Occupy the home as a primary residence immediately

These requirements are the bare minimum. The bank may require a higher credit score or down payment depending on your case.

Down Payment Assistance: City Programs in Iowa

The FHA offers programs in some of Iowa's largest cities including:

  • Cedar Rapids
  • Dubuque
  • Waterloo

Here's a brief overview of what they offer.

Cedar Rapids Down Payment Assistance

The City of Cedar Rapids helps new home buyers secure down payment assistance through its First Time Home Buyer Program. The downside of the Cedar Rapids program is it features limited funding that doles out on a first come, first served basis. 

While no loan is ever guaranteed, being last in line may cause you to miss out on financial assistance.

Dubuque Down Payment Program

Does the Quad Cities appeal? The City of Dubuque also offers a down payment program. It provides $5,000 loans for down payment and closing costs for home buyers in the city. The benefit of these loans is that they come with no interest and feature long terms.

Moreover, Dubuque increases its offer based on your income. If you earn less than 30 percent of the area median income, you can receive as much as $25,000 to help you buy a home.

Waterloo Forgivable Down Payment Loan

Moving to Waterloo? The city offers an entirely different program. The Waterloo Down Payment Assistance Program helps buyers afford their down payments by providing a second, forgivable mortgage. If you accept the loan and then sell the house within five years, you need to pay it back. The amount paid back funds new loans to other home buyers.

Down Payment Grands: Federal Home Loan Bank of Des Moines

The Federal Home Loan Bank of Des Moines offers two programs to help Iowans cover down payments and closing costs: Home$tart and Home$tart Plus.

These are grant programs available to home buyers of all types in all parts of Iowa including Mason City. The baseline qualifications include earning up to 80 percent of the median income in the area in which you intend to purchase the home.

You must also qualify for mortgage financing with your lender. If you are a first-time homebuyer, you must also complete an education class to receive the grant.

Home$tart Plus applicants also need to be one public housing assistance.

If you qualify, you may receive up to $7,500 on Home$tart or $15,000 on Home$tart Plus.

You can use the money as a down payment, to cover closing costs, or to rehabilitate the house you buy.

If you receive the grant, it's a good idea to stay in your home for five years. Selling before the five-year mark will require you to return at least a portion of the grant. The amount you repay depends on how long you owned the home, and the repayment comes from the proceeds of the sale.

Mortgage Assistance: Federal Government Programs

Just as in other states, people intending to buy a home in Iowa can avail of federal programs from the FHA, HUD, VA, and USDA. You may find more opportunities when using these programs in Iowa because there are rural and semi-rural communities to choose from and house prices are lower than elsewhere in the country.

FHA Loans

FHA loans are available from lenders across the state. These loans are government-backed loans, which loosens up the requirements for borrowers.

The benefits of FHA loans are the option to borrow with a minimum credit score of 500 and a down payment as low as 3.5 percent.

FHA loans are some of the easiest mortgage loans to qualify for, and if you lift your credit score to 580, you'll get even better perks.

As a bonus, you can use an FHA loan on virtually any property in Iowa as long as your income and the property price qualify.

HUD Loans

The Department of Housing and Urban Development's (HUD) Good Neighbor Next Door Program is available for teachers, police officer, firefighters, and emergency response professionals who want to buy but can't afford to save.

The program offers a 50 percent discount on the home price if you meet the requirements and buy in a "revitalization area."

If you are a public servant hoping to buy a house, you can get discounts in select areas in the cities of:

  • Waterloo
  • Fairfield
  • Cedar Rapids
  • Pella
  • Muscatine
  • Des Moines
  • West Des Moines
  • Council Bluffs
  • Grinnell
  • Davenport
  • Ames
  • Sioux City

The FHA and HUD also add revitalization areas to their lists regularly. If your preferred city isn't on the list, keep in touch with your FHA lender or real estate agent.

VA Loans

VA loans are available in Iowa as they are elsewhere in the country.

These loans are provided by lenders but backed by the Department of Veterans Affairs. In addition to VA mortgages, Iowa veterans may also qualify for homeownership assistance in the form of a $5,000 grant or a 100 percent property tax exemption for 100 percent disabled service-connected veterans.

To learn more about VA benefits available to residents of Iowa, visit the Iowa branch fo the VA office.

USDA Loans

Because Iowa offers many rural and semi-rural properties, it is a prime hunting ground for USDA Rural Development loans.

One of the perks of single family guaranteed loan programs offered by the USDA is that it provides a minimum of 90% loan note and can even extend it to 100% for eligible borrowers. That means you could buy without spending a penny on a down payment.

Another benefit is that the loans aren't just for the property price. You can also use them to:

  • install special features for family members with disabilities
  • pay real estate taxes
  • buy essential household equipment
  • invest in energy efficiency features
  • pay for site preparation costs
  • fund repairs and rehabilitation of existing houses

Where can you buy in Iowa? Use the USDA's address checker to see if the property you want is available.

It's Great to Be a First Time Home Buyer in Iowa

Local, state, and federal programs make homeownership for the average Iowan easier than ever. If you are a first time home buyer in Iowa, you may be able to score very favorable loans, low down payments, and even grants to get you on your way.

Are you interested in making Mason City your home? Learn more about buying in and around our family-friendly city on our blog.

Posted in Iowa News
Jan. 28, 2019

How to Apply for a Home Loan in North Iowa

Wouldn't it be nice if homes were so affordable that you could simply purchase a North Iowa home like you would your groceries? Unfortunately, this isn't the case for most people and many will need to initiate a home loan before buying.

The home loan process can be tricky, even for seasoned home buyers. For first-timers, this process is usually a nightmare of paperwork, documents, and endless questions.

We're going to talk about how to apply for a home loan, including the steps you should take and some of the reasons behind them. After reading this, you'll be ready to start the process and be on your way to moving in! 

Home Loan in North Iowa

Your Credit and Why it Matters

You probably already know that your credit score is a huge factor in determining your eligibility for your mortgage. Some people don't realize exactly how big of a factor it is, but it is basically the bank's way of deciding if you're capable of paying them back. 

If you have less than perfect credit, this shouldn't stop you from buying your home. However, it may mean that you pay a higher interest rate or are required to pay a larger downpayment. 

For those people that are lucky enough to have a great credit score, you won't have to worry much about this step. For those with a credit score in the high 500s to low 600s, consider taking these steps to raise that number: 

  • Remove any collections accounts
  • Catch up on debt, paying down revolving balances to less than 30%
  • Talk to your credit card company about removing any late payments
  • Use inactive accounts for small amounts (and pay them on time)
  • Do not cancel any credit cards, especially those that have a long history
  • If your credit score is very low and you cannot open a credit account, choose a secured option

Next Step: Pre-Approval

Talk to your bank about getting pre-qualified for a home loan. Although this process won't necessarily guarantee your mortgage, it can give you an idea of your budget. This is a great option for people who aren't 100% committed to purchasing a home or aren't sure of their finances.

The pre-qualification process is quite informal, and you will tell your lender about your assets, income, debt, etc. The lender will tell you the amount you'd likely be approved for if you should choose to move forward. If you're serious about purchasing the home then you will want a pre-approval. 

The pre-approval process is more technical and the lender will actually verify all of the information that is given. This includes checking your credit score and looking at all outstanding balances such as vehicles.

This might seem silly if you have already pre-qualified for the loan. However, many sellers will take a buyer more seriously if they have the approval showing they're capable of buying the home. 

Choose a Lender 

If you've gotten pre-approved, then you have already been working with a lender. This does not mean you must use them for the loan! 

In fact, you should absolutely shop around for the best deal possible when choosing a bank or lender. The biggest downside to continuing the process with another company is the fact that they will have to reverify everything you've already submitted which can take a few days to a week. 

Should you be unsatisfied with the lender who provided the pre-approval yet aren't sure which company to continue with, seek advice. Ask your friends, parents, and real estate agent

It's worth noting that many real estate agents have a preferred lender that they work with and it is often the best option. On the other hand, if you are purchasing a new construction home, the seller and their agent will likely have a preferred lender. 

There will typically be incentives to choose the seller's preferred lender but run some numbers before moving ahead with that choice. Often, it will sound great at first, but once the numbers are on paper, the seller comes out far better than you.

Choose Your Mortgage

You will also need to choose the type of mortgage you'd like. Not only will you need to choose the type, but you will need to choose the terms. 

First, there are the Federal Housing Administration (FHA) loans. These loans are backed by the government and are great for people with less than perfect credit. They are also ideal for people that do not have the money for a large downpayment. 

Conventional loans are generally backed by banks or credit unions. They do require higher credit scores and larger down payments. As a trade-off, these home loans can allow the borrower to skip the mortgage insurance required by FHA loans if there is a 20% or greater down payment. 

There are other loans including rural development loans and VA loans that are specifically for U.S. military veterans. Rural development loans aren't only for properties in the middle of nowhere--you can successfully apply for them in smaller cities and towns!

Once you've decided the type of mortgage you'd like, there are a few other choices. You should consider whether you want a fixed or adjustable rate and for how long you want your mortgage to last. 

The fixed or adjustable rate question is concerning the interest. Fixed rate mortgages have a rate that is locked in and can't go up or down over time. Adjustable rate mortgages sound appealing because the rate could go down. This is usually not the case, as rates typically will rise. 

Choosing how long your mortgage will last doesn't change the amount borrowed, but instead will change your monthly payments. Choosing a 10- or 15-year mortgage will mean a higher payment than a 30-year mortgage. 

The draw of a shorter mortgage period is paying far less interest. However, attempting to get out of paying interest by choosing a shorter term is almost as bad as choosing to borrow too much.

Proof of... Everything

If you've chosen to use the same lender who pre-approved you, you'll have already submitted this information. However, this is a good list to keep handy when you are getting ready to purchase a home or go through the loan process. 

You will need W-2 forms and tax returns from the past two years and your pay stubs from the past 30 days. If you have other sources of income like social security, VA benefits, or regularly paid dividends, these are great to include. 

The lender will also need your recent bank statements, typically for the last 12 months as well as any long-term loans like student debt or car payments. 

Finally, you will need to provide some form of government-issued identification and your social security card. 

Being self-employed presents other problems, as it is more difficult to verify your financial history. This means that you will likely need a higher credit score and to provide business tax returns. It doesn't hurt to have some cash reserves on hand. 

Be aware that when you are self-employed and applying for a home loan, the pre-approval and actual approval can take several days or weeks longer. There is a good chance that your lender will be calling, texting, or emailing you on a daily basis asking for various items needed that might be outside of this list. 

The faster you get those items to the lender, the faster you will be approved and moving into your new house! 

Underwriting: The Stuff of Nightmares

At this point, you already know you've been pre-approved for your home loan and now simply need to get the 'go ahead' to move forward. 

This means that your lender will review your paperwork and application, have your property appraised, and you will sit on pins and needles. 

Basically, your lender is checking that the amount you are trying to borrow makes sense for the property value. They are also ensuring that you are capable of paying the loan back based on your credit, current job, and other sources of income. 

During this time, it is advised not to make any major changes to your career, purchase new vehicles, or open new credit lines. At this point, you want to keep your credit nice and steady. Opening new lines of credit or making any large purchases can lower it, potentially making the loan cost more or the lender turn you down. 

How to Apply for a Home Loan: You've Made It!

At this point, if everything went as planned, you have been approved for your home loan. You will need to begin preparing for closing, consider homeowner's insurance, and do your walk-through of the home.

You have learned how to apply for a home loan, and now all you need to do is close! There will be a ton of paperwork involved on your closing day. Be prepared to spend a few hours speaking with the lender, a closing agent, an attorney, and others, while signing and initialing multiple documents. 

Once you get through that long process, it's time for a celebration! 

If you've got other questions about being a first-time homebuyer, take a look at these tips you absolutely must know before making your big purchase!

Posted in Iowa News
Jan. 7, 2019

Mason City Real Estate Buying Guide: What First-Time Home Buyers NEED to Know

TV shows make home-buying look so easy. You look at three houses and choose the one you like best. In episodes with a bit of extra drama, you might need to go back and forth with a counter-offer or two.

Real life is a bit more complicated. There are a lot of terms and concepts you need to know about, and it's important to understand the basic process as well.

Don't worry, we have you covered! Here are the basics you need to know about Mason City real estate as well as first-time home-buying in general.

Mason City Real Estate

What You Need to Know About Mason City Real Estate

If you're looking to make your home in a small city, Mason City is the place to go. If you're ready to start your home search, though, you'll want to know more about the real estate market in the area. Get started with these helpful facts.

Mason City Has Low Home Costs

If it's affordability you're looking for, Mason City has it in spades. The median home value in the city is $88,000. Compare that to the median home value for the US as a whole, which is $220,000, and it's clear that Mason City is a great value for your hard-earned cash.

Of course, keep in mind that the median value reflects all of Mason City. Some neighborhoods have higher home values and others are lower. Make sure you find out the home values you can expect to see in the specific neighborhoods where you want to live. Base your expectations off those numbers, not the city's overall median.  

Homeownership is High in Mason City 

Throughout the country, 63% of American households own their homes. In Mason City, though, the homeownership rate is 74%.

In general, people who plan to stay in their home longer will buy instead of rent. With such a high homeownership rate, you can see that Mason City is a stable town of long-time residents. It's a great place to feel like you're part of a community.

The high numbers in homeownership are also a hint about how easy it is to buy a house in Mason City. Low ownership rates sometimes happen when a market is challenging to enter for first-time home-buyers, so they choose to rent instead. The high homeownership in Mason City sets it apart as a homeowner-friendly area.

Expect to Drive for Your Commute

Every homeowner-to-be has their own set of criteria they want in a home. For some people, their wishlist includes a home with plenty of activities and businesses in walking distance. Some home-buyers also want a home that's accessible to public transit.

It's important to note that those options aren't widespread in Mason City. 95% of the residents commute by car rather than walking or public transit. If you want to live in a walkable neighborhood, recognize that your options will be limited.

Don't get us wrong: Mason City does have public transit. While there's no rail system, the city does operate several bus routes. Still, the routes are limited compared to many larger cities.

If you will be reliant on public transportation, don't assume that it will be easy to access from any home you find. Focus your house search on homes near or along the bus routes.

Home Prices are Rather Steady

As with any other housing market, the home prices in Mason City go up and down over the course of each year. Compared to many other markets, though, their variation range has been rather small. 

The home market was at its lowest in recent years in 2009 when the median home value was around $79,000. Since then, we've seen an overall increase in our current median value which is $88,000. 

For the most part, this is good news. It means that Mason City's market isn't as volatile as many others in the country. The risk of you buying a home and then seeing the value take a dramatic nosedive is small.

Of course, this comes with a caveat that no one can tell the future. Anything can happen in real estate, but the data of the past suggests that you can expect a safe and stable home value. 

The Market Has Seen Better Days

With that data on home values in mind, it's important to note that compared to other areas of the country, the Mason City housing market is slow. The experts at Zillow give it a score of 1.8 on the ten-point scale for market health.

While that sounds like bad news, the details paint a good picture for home buyers. One factor to note is that homes in Mason City tend to sit on the market for a long time. That means it's a buyers' market, so you'll enjoy low competition in your home search.

Another aspect of the health index is the number of homes in foreclosure. While it's always sad to see a foreclosure, it does benefit you as a buyer because it means you could find a home in a short sale or foreclosure for less than it's worth.

Tips for First Time Home Buyers

As important as it is to know the market you want to buy in, it's just as important to know about the home buying process in general. Here are some tips that can help any first-time home buyer. 

Fire Up That Savings Account

Buying a home is something you need to plan for far in advance. You need to save up a down payment as well as closing costs which could be just as high as your down payment is.

It's best to save up 20% of your target purchase price as a down payment. If you can cross that 20% threshold you won't need to purchase mortgage insurance, which is one more expense you can cross off your list.

Even if you can't meet 20%, the higher your down payment is, the less you'll pay in interest over the life of your loan. Having some patients and taking the time to save up could save you thousands of dollars down the line.

Start by sitting down and defining your savings goal based on your target home price. Divide that up and create a set amount of money to set aside each month. You should think of this as a mandatory piece of your budget, just like every other bill you pay.

If you just decide to "save whatever's leftover" each month, chances are that you'll find yourself with fewer "leftovers" than you think.

Research Your Options

Getting a mortgage isn't as clear-cut and simple as you might think. For first-time home-buyers in particular, there are many types of mortgages and mortgage programs available.

Some types of mortgages will allow for a lower down payment than conventional mortgages do. They may help you get a lower interest rate too. Some prospective buyers even qualify for programs that will provide grant money toward their down payment.

This is why it's so important to take your time and do your research before you buy a home. You don't want to miss out on opportunities just because you didn't know they existed. A local real estate agent can help you find out what you need to know in addition to online research.

Get a Credit Check-Up

Along with developing a savings plan, another of your earliest steps before buying a home should be a credit check.

Your credit is one of the largest factors in whether you're able to qualify for a mortgage at all, along with the interest rate you'll be able to get. In other words, a poor credit score could cost you thousands of dollars in interest or it could prevent you from buying a home at all. 

Start with a free credit report that shows you your credit score from all three major credit bureaus: Experian, Equifax, and TransUnion. Find out what factors may be lowering your score and make a plan to address them.

Some ways to improve your credit score can be quick, like paying down credit card debt. Others can take many months or more than a year. It's also important to find out how to avoid lowering your credit score, like applying for new credit cards. The earlier you start being vigilant, the more likely you are to have a strong score when it's time for a mortgage.

Get Preapproved

Imagine falling in love with a house and then losing out to other buyers because they have secure funding and you don't. Or worse, imagine negotiating and reaching a deal but watching it fall through because you can't get the mortgage you expected.

This happens too often to track, but it's completely preventable. The key is getting pre-approved for a mortgage before you start shopping for a home.

With a pre-approval, a lender will assess your credit, income, and other factors to determine how much they would lend to you. This tells you how much of a home you can buy while also making you more attractive to home sellers because it can make the sales process smoother.

Note that preapprovals are usually valid for two or three months. Don't get yours until you're serious about looking for a home, and recognize that you might have to renew your pre-approval if it takes too long to find your future home.  

Buying Your First Home Like a Pro

Buying a house can be a nerve-wracking process, especially for a first-timer. There are ways to make it easier, though. Getting up to speed on Mason City real estate can go a long way toward helping you set your expectations and streamline your search.

To get started, begin your Mason City home search online today. 

Posted in Iowa News