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What are Some of Southeast Iowa's Best Values in Homes?
The housing markets in Southeast Iowa present a varied picture and quite a range of prices and values. In looking at two metropolitan areas--Cedar Rapids and Iowa City--and several smaller communities including Ottumwa, Fairfield, Mt. Pleasant, Keosauqua, and Burlington, I discovered a definite small town and older home advantage.
As people discover the virtues of the state of Iowa, such as its lower cost of living index, lower crime rate, and cleaner air, they are inspired to head this way. Add to that the fact that Iowa was recently rated the number one best state in the union in which to raise children and you have a prescription for even more growth. The big cities, such as Cedar Rapids and Iowa City, have been growing quickly and have many new housing developments. They also have wonderful well-established communities with prime vintage homes that may seem pricey to Iowans but look like real bargains to people from the coasts.
Cedar Rapids
Houses in Cedar Rapids are available for as little as $39,000 with three bedrooms and one to two baths and continue on up to well over $100,000, with the median price in the low 90s. Prices reflect the condition of the home and the community in which it is located, as well as land area, views, and desirability. The best places to look are in recently developed areas as well as in well-established communities. There are older homes in some neighborhoods that would be a joy to own.
Iowa City
Presently there is adequate housing for the demand in Cedar Rapids, but in Iowa City expected influxes of students to the University of Iowa and the projected growth of the elderly community might produce a housing shortage in the near future. Although it has 870 houses listed with a median price of $102,000, things are expected to change shortly.
The area is growing quickly, so the cost of a new "starter" home is high. Prices on new homes range from $98,000 to well over $200,000. The new homes in the two- and three-bedroom and two-bath category have some lovely features but may well put a strain on a growing family. Most are single or split-level homes that include well-equipped kitchens, a living room and dining room, a deck, and a recreation room. Many also include gardens, and some have community recreation areas as well. These houses tend to be in the suburbs, so a car or two is a must. Shopping, recreational areas, and schools are seldom close by, so if you want a simpler life, without a constant family "taxi service," a look in the older city might be best.
Lower priced homes are available in some of the older communities in the city. These are close to the downtown university area, local schools, and shopping districts. Some have attractive features seldom seen in newer homes--such as wooden floors, high ceilings, garages, and large bedrooms--so make a list of what you really require and compare.
Ottumwa
The monetary advantages of small town living are very apparent in the housing market. Home prices in the towns of Ottumwa, Keosauqua, Fairfield, Mt. Pleasant, and Burlington are generally lower and the houses are better buys.
In Ottumwa the median price of homes sold in 1997 was $53,000. These homes were generally two- and three-bedroom units with one to two baths and ample space for comfortable living. New homes are high priced because of building costs, but usually for $100,000 the lots are larger and square footage is greater. Nice older homes can be found for quite a bit less and with great features.
There are also some "fixer uppers" in some of the older communities that offer an energetic couple or family a chance to start at $10,000 to $40,000. As with the big cities the price depends on the community and on the state of the home, but for the enterprising and knowledgeable they can be a very good buy. For the less knowledgeable, they are best avoided.
Fairfield
Currently Fairfield has a wonderful array of vintage homes on the market for between $50,000 and $80,000. Still, half of the homes on the market are priced below $60,000, so there should be something for all needs. According to Patty Hamilton of Heartland Realty, "The smaller homes in the high 50s and low 60s include nice yards and many comforts. The homes priced in the 80s tend to have wood floors, high ceilings, ample-to-large bedrooms, sun porches, basements, and other amenities."
The realtors also said that lot sizes are large, and the internal square footage is around 1500 to 2000 square feet. Many new homes in the Fairfield area are built to the standards of Sthapatya Veda architecture and tend to be higher priced.
Fairfield has a thriving business community employing thousands, a lively university, and an energetic community, so the housing market is very active.
Mt. Pleasant
Mt. Pleasant, a small town between Fairfield and Burlington that lives up to its name, currently has over 50 listings with prices ranging from $30,000 to $400,000. According to Steve Gray of Cottage Realty, "The mean price for homes is in the high 60s to low 70s." The community has a small university and great parks and is a easy commute to surrounding towns.
Keosauqua
Keosauqua, home to beautiful Lacey-Keosauqua State Park, is very pleasant rural town that is a comfortable commute to several nearby cities. Kay Wingate of Boley Real Estate in Keosauqua says new homes are being built in the $70,000 to $80,000 range. "The reasons for the high prices," she says, "are higher construction costs and the fact that people are demanding more [amenities], even in starter homes." She also says these new homes tend to have larger lots, larger bedrooms, and extra features. They are usually in the 1,000 to 1,600 square foot range.
She adds that there are lower-priced homes in the $40,000 to $50,000 range with two to three bedrooms, a garage, and 1,300 to 1,800 square feet of space, but they are generally outside of the city proper.
Burlington
Bordering the Mississippi in Southeast Iowa is the city of Burlington. It has a thriving economy, a well-respected medical establishment, good schools, and some attractive homes. Diana Wallace of the Burlington Realty Board says that the median price of homes sold in Burlington is about $60,000. The community tends to sell around 500 homes a year and is considered a nice location by residents. Its attractions are not readily apparent on the main roads, which go through the business district, but if you take the time to wander through some of the residential neighborhoods, you'll be pleasantly surprised.
