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! 

MERRY CHRISTMAS

I am grateful for so much this year, good health, a warm home, friends and family near and far, the list is long and yet as we near the end of 2022 I reflect on the thank you cards I failed to send,  the thoughts and wishes I held for friends, family or clients but  failed to communicate, the birthday greetings, the get well or the sympathy card I never sent.  

 So today I want to say to my friends, family and my clients and customers, I thought of you.. and  I will task myself to do better, to make that phone call, to send  that card or to text a thought I had of you.

Its' the coldest Christmas I can remember but warmest thoughts are sent to all - Have a Merry Christmas and a Wonderful New Year.

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. 

Tax Season

Tax Season 

It's that time of year when we start searching for all the records, receipts, expenditures from 2021 and wondering... now, where did I file that (?) Or is that just me that waits until year end to round it all up- make those Quickbook
entries and hope I haven't forgotten something important~

To this I would add, I am grateful to have a tax accountant - those folks are so versed in taxes and keeping up with changing laws, keeping me from being stressed out and open to audit~ I applaud all they do... it surely is not my line of work now or ever!

Take time to thank you tax person, mail carriers, hair dresser, delivery services,  all those folks we rely on but don't thank often enough for all they do. 

💟

 

Picking your agent

For many consumers in the real estate market the yare unsure of how the process works.  Do I call the agent on the sign do I call the office?  how do I know who to pick as my agent?

1. Past client referrals are a great way to find an agent.  Testimonials and word of mouth are a good basis for getting an agent who is dedicated to the profession.  Choose an agent who works for you and with you, find a relatable agent. Honesty and  transparency are also good qualities to look for in your agent.

2. Google your agent ; most agents have been around long enough to have a track record on Google. Ask lots of questions - 

3. Be sure your agent is geographically competent - knowing the area and the market are important factors in making offers and listing properties... if the agent is unfamiliar with the area it could cost you.  Some agents are trained in many types of real estate - commercial, multi family etc. ask your agent if they specialize in residential property sales, or if they are experienced in other area's of property. 

4. Discounted fees aren't always the best deal.. if you are unsure get a 2nd opinion. If it sounds to good to be true it may be!  Interview several agents to get the fit you are looking for. 

Agents and Brokers are independent contractors who work for a broker or brokerage that has a Managing Broker within the firm...there are franchises such as Century21 and Re/Max as well as many others as well as independent agencies.  All are licensed through the state and are members of the National Association of Realtors and the local board of Realtors.

Realtors work on commission basis and are typically not paid a salary so they depend on listing and selling property to make a living.  

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Fall Thoughts

 As we end September and the 3rd quarter of 2021 it seems we are in a re-balancing of the real estate market.  Having worked through the first 3 quarters of the year and seeing homes appreciate and multiple offers within hours of being on the market, this year has sure been a whirlwind! .

The current statistics show lower inventory and going into fall we could certainly use more to work from as the demand is still here.

Year to Date Solds: 545 Des Moines County 

Current listings in Des Moines County 268 residential/multi family/ land an commercial  including those currently under contract.

Here are some predictions for the rest of the 2021 market:

Though "crash" articles get clicks, real estate will appreciate at an above-average rate through late 2021 for three reasons–scarcity, utility and demand. Scarcity: there is a shortage of 6.8 million housing units. Utility: the home is now the center of the remote workers' world by being both the office and gym. Demand: Millennials are America's largest generation, in their prime home-buying years. - Keith Weinhold, Get Rich Education
Sales continued to increase over last year and prices remain stable. After the halfway point of the year, unlike shoes and watches, many people do not buy more than one home at a time, so I expect to see fewer showings, fewer offers and less aggressive offers. In most markets, sellers overcorrected on their pricing months ago, so the over asking price craziness has already settled down a bit. - Joshua Cooley, Keller Williams

Whatever happens we will continue to serve our communities buyers and sellers with the professionalism expected, stay on top of values and the fluctuations in the market place to best serve our clients.  

Questions?  feel free to reach out anytime to ask... email/text or call. 

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

Whats New in Real Estate

Wondering how to purchase a home? Right now is still a good time to buy, rates are affordable and lenders have the capital on hand to loan.