Grant Gibney, Realtor at Investor Edge Real Estate

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Price Improved!Now offered at $164,900Classic SE side two-story featuring the original woodwork, built-ins, and hardwood...
02/06/2026

Price Improved!
Now offered at $164,900

Classic SE side two-story featuring the original woodwork, built-ins, and hardwood floors this area is known for.

4 Bedrooms | 2 Bathrooms | 1,791 sf

1538 Bever Ave SE, Cedar Rapids
Schedule your showing today!

Grant Gibney | Realtor
319-558-9813
Investor Edge Real Estate

02/08/2023

How has remote/hybrid work impacted the real estate market?

Increased demand for single-family homes: With more people working from home, there is greater demand for single-family homes with separate home offices and outdoor spaces.

Shift away from urban areas: With remote work becoming more prevalent, people are rethinking their need to live in densely populated, expensive urban areas and looking for more affordable and spacious options in the suburbs or rural areas.

Impact on commercial real estate: The shift towards remote work is expected to reduce demand for traditional office space, with companies opting for smaller office footprints or a hybrid model that combines remote work with limited in-person time in the office.

Changes in housing design and construction: As people spend more time at home, there may be a greater emphasis on creating homes that are comfortable, functional, and conducive to remote work and remote learning.

01/19/2023

How does paying a mortgage work?

When you take out a loan, the total is broken up (amortized) into equal monthly payments over a set period at a specific interest rate.

What does my monthly payment go towards?
Each month, part of your payment is applied to the principal and the other to the interest on the loan.

Principal = the amount you borrow from the bank
Interest = the bank's "fee" for lending you money

Interest is calculated based on the principal balance, so at the beginning of your term, you will pay more interest. Over time, as you pay down the principal balance, you owe less interest each month because your loan balance is lower.

Equity can be achieved in several ways, but paying down your principal balance is one of them. When you have equity in your home, it is a resource you can borrow against to improve your property, purchase another, or pay off other higher interest debts.

01/10/2023

What can I do if my house does not sell?

Not every market is conducive to selling a home, but maybe you do not have another option.

Or do you?

- Postpone selling your home: Real estate can be seasonal. If you are having trouble selling your home in the middle of the winter in Iowa, consider postponing. Spring, summer, and fall can all be great times to sell your home.

- Consider refinancing: If your need to sell is financial, consider refinancing or utilizing a home equity line of credit. Before taking this route, meet with a trusted advisor to discuss your financial situation.

- Rent your home instead: Every minute your house sits empty costs you money. Renting your home can be a way to avoid this. However, renting your home is often uncharted territory for most homeowners. Familiarize yourself with best practices, laws, and restrictions your insurance company or mortgage lender may have.

- Sell your home on contract: Contract purchases are appealing to buyers who, for a variety of reasons, may not be in the position to purchase a home through conventional financing. Selling your home on contract could be the creative way you need to sell your home.

Thinking outside of the box could save you thousands of dollars. As always, do your research and do not let anyone tell you, you have only one option.

01/05/2023

Home renovations with the best return on investment...

Not all renovation projects are created equal. Kitchen, baths, family rooms, or master suite additions typically have the highest return on investment.

When buying a house, people first look at the kitchen and bathrooms - when you are not in one, you are typically in the other.

While these areas of the house can be the most costly to renovate and often come with unexpected issues, they will more than likely pay for themselves. In addition, adding rooms such as an additional bedroom or living space do well at resale - bigger homes bring higher prices.

Factors that will impact the ROI on your renovation(s):
Neighborhood - Before putting tens of thousands of dollars into a kitchen remodel, ask yourself if the area will support this upgrade. No amount of money invested into a kitchen can make a buyer forget about a less than desirable neighborhood.

Market - In a faster-paced market with several interested buyers, someone may be willing to pay a little extra for your improvement. In my opinion, this has more to do with supply and demand than with your renovation but is a factor nonetheless.

Timeline - The longer you stay in your house, the more likely you are to see a higher return on your investment. There is a caveat to this: features that are popular now might not be in ten years.

Hidden Costs - Renovating a house comes with many unknowns. It is almost impossible to plan for what is waiting for you behind the wall you want to take down.

Updating dated areas of your home is never a bad idea, but it should be treated as an investment. Make sure you do your homework before spending your hard-earned money on areas of your home that might not pay off.

01/03/2023

Should I hold an open house when selling my home?

Some agents swear by open houses, and others think they are a waste of time.

Pros:
- Open houses can provide additional exposure and foot traffic to your home, especially in slower markets.

- Attract buyers that you wouldn’t usually have

- Low-pressure environment, which leads to more honest guests. People typically have no issue airing their opinions about a home when the homeowner isn’t present. Chances are if one person is thinking it, so are others.

Cons:
- Anyone can go to an open house. Let’s face it, walking through a home can be a cool experience and is entertaining for some people. However, your agent may not be thrilled to spend two hours of their Sunday talking to a series of tire kickers.

- Open houses are an opportunity to show off your TV, stereo, and laptop. Providing an excellent opportunity for a thief to walk into your home and make a shopping list. Remove all valuables and make sure your guests are watched at all times.

Ultimately, serious buyers can make appointments to see your home, so be sure to think through all the pros and cons before deciding.

12/29/2022

Should you change the locks on your new house?

You have no idea how many copies of the house keys are floating around, so changing the locks will keep your house more secure.

Depending on the style you prefer, changing locks can be as cheap as $40 or as much as a couple of hundred dollars. Changing locks are easy enough where anyone can do them quickly, so there is no need to hire a handyman.

PS - Don't forget to change the combination on any garage door keypads and even consider erasing all codes from your garage opener.

12/27/2022

What is the secondary mortgage market?


The secondary mortgage market is where investors buy and sell packaged mortgages. Lenders originate loans and then place them for sale on the secondary market. Investors who purchase these loans have the right to collect the money owed.

Many loans are sold to the government-sponsored Fannie Mae and Freddie Mac, where they repackage the loans as mortgage-backed securities or hold them on their books – collecting interest. To be sold, the loans need to meet standards set, which include maximum loan amounts, downpayment, credit score, and other requirements.

When your local financial institution sells your mortgage on the secondary market, they typically remain as the loan servicer. They handle the day-to-day tasks of managing your loan, which include processing your payments, responding to inquiries, and keeping track of principal and interest paid. In return, the loan servicer collects a servicing fee, usually between 0.25% to 0.5% of the mortgage balance.

What is the purpose?

The secondary mortgage market was created in 1938 with the formation of Fannie Mae. Fannie Mae provided liquidity for originating lenders by purchasing loans off their books. In turn, banks do not have as much money tied up, are able to generate more loans, and therefore encourage homeownership.

As an investor, if your commercial loan was sold on the secondary mortgage to a government-backed company (Fannie Mae or Freddie Mac), it could have been considered a covered property. The CARES Act restricted lessors of covered properties from filing new eviction actions for non-payment of rent. Be sure if your loan will be sold on the secondary market and its implications before doing so.

12/22/2022

Can I sell my house in as-is condition?

Absolutely, but there are some things to consider before doing so.

Sellers list their homes for sale as-is when they do not want to make any repairs before closing. In addition, it could be a property they want to get off their plate quickly, for whatever reason.

It is necessary to understand your target buyer and their desired price point. I have been through a house with four feet of garbage throughout the house, which had multiple bids on it. It was in a good location and priced right, which led to several serious buyers. Pricing a home too high will lead to it spending more time on the market, and time is money.

What are the benefits?

A lower price will give you a higher chance of finding a cash buyer. The closing process will likely move much faster as you would avoid the headache known as the mortgage approval process. Also, you do not have to deal with all of the headaches that accompany making repairs to a home.

As a seller, you should consider the items in your house that need attention. A couple of thousand dollars invested into the RIGHT repairs could mean double or triple that investment returned when selling. It could also be a waste of your time. Knowing all your options before selling your house will make this decision easier when the time comes.

12/20/2022

How do I show a seller I am a serious buyer?

Making sure your offer on a home will stand out is vital. Two ways of achieving this is a pre-approval letter from a lender and putting down an earnest deposit.

A pre-approval letter is a document your lender will provide to you on their letterhead stating the bank will lend you any amount of money up to a certain level. You would include this letter with your offer to purchase.

Why would this interest a seller?

Sellers do not want to waste their time or money on someone unable to afford their house.

As long as you have already sat down with a lender to establish your financials, they should be able to get you one within 24 hours or less. This letter is always good to have BEFORE you start house hunting.

An earnest deposit is also known as a good faith deposit. Or as I like to call it, putting your money where your mouth is. Typically around 1-3% of the sale price, the earnest deposit shows the seller you are serious about the house. The earnest check sits in an escrow account until the deal is complete and will be applied to the buyer’s down payment or closing costs.

If the deal falls through, the seller may take a big financial hit by having to realist the home and start all over again. Earnest money protects the seller against this.

However, if the deal falls through due to a failed home inspection or any other contingencies listed in the contract, the buyer gets their earnest deposit refunded.

12/15/2022

How do I calculate what my property is worth?

Whether you are looking to sell or are interested in calculating how much equity you have accumulated, knowing the value of your property is something you will eventually want to know.

Unlike your bank accounts, you cannot just log into your mobile banking app to see how much your property is worth at any point in time.

There are three types of property valuation methods:

Sales Comparison – This method looks at recent sales, pending sales, and currently listed properties similar to your home. Finding a perfect match is impossible in real estate. Adjustments are necessary to make an apples-to-apples comparison. For example, your neighbor's house just sold last week. They have a two-stall garage, but you only have one stall. Let's say the market shows the extra stall is worth $5,000 more, so we would take the price of what your neighbor's house sold for, and subtract $5,000 from the subject property if all else is equal.

Cost Approach – What does it cost to construct a replicate of said property? As a buyer, if it is cheaper to build an exact replication, why would you not?

Income Capitalization – This method is only for investment properties. This method considers the return on investment and net income of a property. The lower the capitalization rate, the lower the return on investment, but the less risk you assume, and the opposite for a higher capitalization rate.

Your property is only worth what someone will pay for it, so the methods above are not a perfect science. Humans are inherently emotional, and there is no way to quantify that fact. Market conditions, interest rates, location, and other factors also impact value.

Address

Cedar Rapids, IA

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+13195589813

Website

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