Rentals and Real Estate

 Rocking Rentals

In 22Q4, for the first time since at least 1974 when data became available, the quarterly number of housing units built-for-rent at 133,000 exceeded the number of single-family units built-for-sale at 126,000. Historically, the only times these numbers came close were during the recessions of 1982 and 2008/09 when single-family production collapsed. Single-family built-for-sales starts are down about 40% from their recent peaks, built-for-rent activity is nearing its 1986 high.

Elliot Eisenberg, Economist. 

This is very interesting food for thought.....

Do we have to many rentals in our market?  let me know what you think

in an email:

Deb.Fowler.c21@gmail.com

Friday afternoon at my office

Here's what I am doing.....

It's Friday afternoon and I am updating files for recent listings and sales - February is sometimes the start of the "spring market"  - this may seem early but as tax returns start rolling in it's often a good time to have the needed down payment for a new home !  So if you are thinking of listing give me a call ! Or if you have your pre approval and are ready to look let's talk! The cold days are sure to be fewer as we head into a much anticipated Spring! 

Is it a good time?

 

    

• If you're planning to make a move but aren't sure if now's the right time, here are a few reasons why you shouldn't wait to sell your house.

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• The supply of homes for sale, while growing, is still low today. Plus, serious buyers are out looking right now, and many are hoping to avoid falling into the rental trap for another year.

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• Motivated Sellers are open to offers.

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• Interest rates are still reasonable.

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• Typical closing dates are 30-45 days depending on financing. 

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• Realtors are ready to help! most agents will do a market analysis with no cost and no obligation.

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• Reach out to a real estate professional to determine if selling your house before the new year is the right move for you.

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Staying Relevant

Seems like a long time ago that I started in the real estate business - 1996 to be exact.  I know

 the industry needs to change and grow, and so I feel I need to do that also.  By growing and

 expanding our knowledge, education and ways of doing business I believe that is the way to

 stay relevant in today's market.

 I recently attended the Iowa Realtors Convention in Des Moines, the instructors were among the best I have had the pleasure of listening to. 

 We have a  Realtor Code of Ethics that Realtors vow to uphold, also the standard of having continuing education ( 36 HOURS) every 3 years.  Mandatory are the Ethics and Law Update classes.

I will attach that Code of Ethics below so that you can also see what we Realtors practice in our daily business.

It's fall - time to spend some time daydreaming under a tree

https://cdn.nar.realtor/sites/default/files/documents/2022-COE-Standards-of-Practice-2021-12-15.pdf

Inventory

If you are looking for a home right now you too have probably encountered the inventory shortage.  Currently the market is showing a lower than normal inventory for homes ready to move into.  The shortage is as much from selling many more homes in the last 12-24 months than in previous years and people staying in their homes and not deciding to make a move during the pandemic, the very attractive rates and the mood of the country coming out of pandemic times.  Either way it is a historic market we are seeing now. 

In this Market - a few things to keep in mind if you are thinking of waiting! 

“Prices continue to rise, up 15 % year over year.  This represents a decade of continuous growth!  Thinking about selling to maximize your net profit? Message me for a free market analysis to see how much your property is worth today!”

“Offers over-asking have risen to 48%, inching closer to the peak of 55% in the summer of 2021—the market is still hot and consistent low days on market indicate that buyers are still snapping homes up quickly. If you are ready to move, we can make it happen fast to take advantage while the market is in the seller’s favor!”

If you are a Buyer - 

Current rates are still at 4% and below - now is the time to get pre-approved or pre-qualified to purchase your home.  A non qualified buyer in this market is behind - to be competitive get that prequal and then go find the home of your dreams.
By the end of 2022 and into 2023 the forecast is predicting a potential increase in interest rate of up to 6.75% that is a determining factor in how much home you can buy!  each 1% in interest equates to about 10,000 so keep this in mind..

Happy Easter 

Be blessed, take time to enjoy family, friends and good food. 

About Home

 This week has been a busy one... alas I am a day later than initially planned with this blog.. this week started with a personal friend/colleague down with covid and the space that occupies in your mind when thinking of them while hoping for a quick and full recovery with no lingering side effects. 

There was travel this week to the Iowa Association of Realtors conference in Council Bluffs, learning new techniques and keeping up with law and ethics while meeting new friends and brokers and agents I have known for years.  It was good to feel the freedom of being in a group again and reconnecting with the staff at IAR.

The emotions kept coming towards end of the week and I now am reflecting on what it means to be home.  The place where you can go to hide, perhaps to cry or just to feel safe from the world.  Home is a comfort, something to look forward to at the end of the day, knowing it has you, your home is your sanctuary.  At home there is no judgement, no time lines to stress you and being there is the heart of everyday life. A home gives us warmth in winter and provides shelter against storms.  You live your life in that home and if you have ever had to sell a home that you have lived in and built memories in and healed in, you know its a train-wreck of emotions trying to say goodbye. 

There is also the excitement and joy of a new space, a new home to call your own, I have felt this joy and so often in my job experience the joy of others as they realize their dreams.  That is one of the many things I love about my job.. those relationships built around searching for and finding the "one" that says home. 

Coming home, what does that mean to you? 

Realtors - Your Trusted Partner

It's easy to look at real estate agents and think all they do is show homes and collect checks.  Truth is there is so much more that goes into being a Realtor.

 Your full time agent is licensed by the state, has  knowledge of the area and stays informed on new listings  coming on the market daily, has systems in place to alert you to those new listings,  maintains a data base with past & present clients to help sell your home in the most efficient time frame as well as develops marketing plans and advises sellers and buyers  on best practices . 

 A full time agent is in the office or in the field listing and selling homes, keeping clients informed and watching the market constantly. Stays current on lending guidelines and what mortgage options are available in your area . Most agents work nights and weekends for the convenience of buyers and sellers work schedules. In addition agents are trained negotiators and remove the personal emotion of home buying and selling for you. 

Realtors are required to stay current on laws and ethics and are mandated  36 hours of continuing education every 3 years to renew their license.  Realtors prescribe to a Code Of Ethics that is the model for ethical behavior. 

There is a minimum of 183+ steps to get a listing in the market and make sure that all state and national laws are followed, disclosures are accurate and fair housing laws are not violated.  The agent will take time to know you and your needs and has the time to be available to assure the transaction is moving towards closing and has access at all times to be accountable to you and your transaction. 

At your first consultation with an agent be sure to ask if they are full or part time.  Plan to move with a trusted Realtor.

REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is member of the NATIONAL ASSOCIATION OF REALTORS® ..

Salesperson/Broker - Iowa licenses Salespersons and Brokers - Illinois licenses Brokers 

Salespersons -after 2 active years in the industry can take additional training and exam to pursue a Brokers license

Managing Broker - this is the licensed "manager" of the agents within his/her firm

Board of Realtors - local association 

Iowa Association - State association in cooperation with Iowa Real Estate Commission

NAR - National Association of Realtors