Ruhl & Ruhl Realtors Celebrates 2019!
Ruhl&Ruhl Realtors celebrated a strong 2019, with company sales volume of $911,119,830. In addition, Ruhl Mortgage closed $181,736,788 in loan volume and NAI Ruhl Commercial Company closed $99,052,750 in sales volume.
Chris Beason, President, and Caroline Ruhl, CEO, honored 207 award winners for their 2019 achievements at Rhythm City Casino on January 31, 2020. Over 300 agents, staff and affiliated business partners cheered on their co-workers.
“We are blessed to work with such an amazing team of knowledgeable, caring, and committed professionals. Thank you for taking care of our customers and one another, for always taking the high road, and for giving back to our communities. We are grateful for the countless ways you have made Ruhl&Ruhl Realtors a better, more inclusive and altogether more exciting place to work.” Beason told his team.
Top Office Awards in the Clinton Office were presented to:
There is a complete list of all award winners on Ruhl&Ruhl Realtors’ website at www.RuhlHomes.com/News.
Ruhl&Ruhl Realtors 2019 Results
Ruhl shared with her team the company’s results in 2019:
- Kris Whalen was honored with the Excellence in Service Award, for receiving the highest client service rating in the Clinton office. Kris also received the Top Lister Award, the Top Sales Award and the AHS Home Warranty Award.
- Sandy Howard received the Community Service Award.
- Steve Bearsley received the New Associate of the Year Award.
- Chris Brewer received the Ruhl Mortgage Award.
Regional Real Estate Forecast for 2020
- Number of Properties Sold – Ruhl&Ruhl Realtors sold 5,042 properties in 2019, as either listing agent or selling agent.
- Residential Sales Volume – Ruhl’s sales volume in 2019 was $911,119,830.
- Revenue – Revenue in a real estate company is primarily gross commission income (GCI). Ruhl’s 2019 GCI was $26,473,212.
- New Listings Taken – Ruhl&Ruhl Realtors listed 2,832 properties for sale in 2019.
- Nationally Ranked Per Agent Productivity –On average our agents closed 16.5 transactions in 2019. This is more than double the national average for per agent productivity.
- Great Agents and Staff – We ended 2019 with 305 residential agents. In addition, 65 employees work for Ruhl&Ruhl Realtors.
- Ruhl Mortgage – Ruhl Mortgage closed $181,736,788 in loan volume, which was generated by 960 loans. 76% were purchase loans and 24% were refinances. Ruhl Mortgage employs 24 staff members.
- Insurance Referrals Sold – Ruhl&Ruhl agents referred clients resulting in 485 policies being sold by the Nelson Brothers Agency, Ruhl&Ruhl Realtors’ affiliated insurance company. Nelson Brothers Agency has 19 sales agents and 17 staff members
- Commercial Sales Volume – NAI Ruhl Commercial Company, a joint venture with Ruhl&Ruhl Realtors, sold $99,052,750 in commercial real estate in 2019. They have 20 commercial agents and 15 staff members. NAI Ruhl Property Management manages just under 2 million square feet of space.
In our region, homes appreciated from 2% to 3.5% last year on average, depending on the market and the price range. See attached chart “Home Price Appreciation” for appreciation details by market, and changes in average sales prices by market on the attached chart “Regional Real Estate Activity.”
- Appreciation and Price Increases Will Continue
Projections from experts all forecast rates will remain stable throughout 2020, with 30-year fixed-rate hovering around 3.7% - 4.1%. As of January 28, rates with no points were lower than this time last year:
15-year Conventional Fixed: 3.000%
30-year Conventional Fixed: 3.375%
FHA/VA 30-year Fixed: 3.375%
5/1 ARM (Adjustable Rate Mortgage): 3.300%
Since rates have remained under 5% for the last decade, borrowers may not fully realize the opportunity they have right now. For example, during the 1980’s the average interest rate was 12.70% and went as high as 18%.
- Mortgage Rates Will Remain Low
There is even some concern for the possible return to bidding wars for affordable homes, which is good news for sellers in affordable price ranges. Investors continue to absorb 20% of our inventory. Further, homeowners are staying put longer and builders aren’t keeping up with demand for affordable new homes.
- Affordable Inventory in High Demand, but Short Supply
Realtor.com says millennials - with the oldest approaching 40 and the biggest cohort turning 30 in 2020 - will surpass 50% of all home purchase mortgages.
What’s the holdup? Student debt and the false belief that they need a 20% down payment. The big problem is their lack of awareness of their many options: 1) FHA allows a buyer to put down less than 5%; 2) Fannie Mae and Freddie Mac also have low down payment programs; 3) VA Loans for veterans can go to 100%; 4) Rural areas and many states and cities also have loan down payment programs. Plus parents and grandparents can be a great help.
The key is for Millennials to meet with a mortgage advisor to learn about all of their options and to figure out a game plan that works best for their particular life plan. Contact Ruhl Mortgage at RuhlMortgage.com or 866-441-1862 for a consultation.
A family-owned company since 1862, Ruhl&Ruhl Realtors has grown to 305 sales associates, 65 employees and 11 offices, selling more than 2,832 homes in 2019 in eastern Iowa, northwest Illinois and southwest Wisconsin. The company has residential sales offices in Bettendorf, Burlington, Cedar Rapids, Clinton, Davenport, DeWitt, Dubuque, Iowa City, and Muscatine, Iowa; and in Galena and Moline, Illinois. For more information on Ruhl&Ruhl Realtors, visit their website at www.RuhlHomes.com.
- Millennials Will Drive Housing Trends