The Hot Beat


The second-day story, with your help. Call Gazette reporter Adam Belz at (319) 398-8273 or e-mail him:

Nothing sinister apparent in flood home sales

I spent the morning looking at real estate records from the Cedar Rapids Assessor’s Office and found no patterns showing that big companies are swooping in to buy homes from flood victims at rock-bottom prices.

Between June 13 and Feb. 9, some 73 homes in the flood area were sold.

It’s not that they weren’t sold on the cheap. The average sale price was $36,738, which is less than half the average pre-flood assessed value, $78,840.

Keith and Marleen Nemecek in Winthrop have purchased four homes in the flood area. Danny Hartmann Jr. of Cedar Rapids has purchased three. A company in Las Vegas bought a home on Ellis Boulevard.

But most of the the homes have been purchased locally, by various people.

Bob Miell, I should mention, does not appear to be active in the post-flood real estate market.

I’m going to talk to a couple tomorrow about why they sold their $60,000 home for $15,000, but I’m looking for ways identify the meaningful story in all this.

Any help would be welcome: (319) 398-8273.

Filed under: Flood

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