(Radio Iowa) — The president of the Iowa Association of Realtors attended a national convention last week where he had a chance to talk with counterparts in other states. Spencer Realtor John Goede says the flood insurance requirement for homes got a lot of discussion. Those in the flood plain are required to buy insurance and Goede says that add substantially to the cost of homes on the same street. “That reflects about 15-thousand dollars worth of buying power,” Goede says. “So the same house on one side would be a 100-thousand dollar house — on the other side it could be 85-thousand. That’s something we have to address.”

Goede says the low unemployment rate across the country was another issue they discussed. “There was a time there when people were reluctant to buy if they weren’t confident that they had a job. And that isn’t the case now,” Goede says.  Iowa has the second lowest level of unemployment in the country. He says he found a new program in Iowa is not used in many other states. “We’re only one of three states that has a first-time homebuyer savings account. That was implemented last year, this is the first year it goes into effect,” Goede says. You can put money away. You can do this yourself as a potential home buyer, or relatives can do the same and they can put money away.”

Goede says the program gives new homeowners a break. He says you can deduct the money you put away from your Iowa income tax.  Goede says this is something that Iowa Realtors will be watching to see what type of impact it has on sales.