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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Current Statistics

Today is the day to talk about the current market and the preceding quarters.  I want to share some insights  so that we can navigate through the coming months and try to better prepare for buying and selling.

Prices dropped slightly as rising mortgage rates continue to impact affordability. Prices are not expected to depreciate, but the rapid appreciation of the last 2 years may be slowing. If you are thinking about selling to maximize your net profit, message me for a free local market analysis to see how much your property is worth today!

Inventory remains historically low, and great properties are still going fast.  If you are qualified to buy, you may want to act while prices are stabilizing—and before mortgage rates go any higher!

Additionally there is some reports that interest rates may be sliding downward due to possible  inflationary lessening.  Good News!! 

 Message me to learn about the buying opportunities in our area.

Days on market has ticked up from the historical low of 14 days to 19 days and the number of competing offers has been falling since April, from 5.5 offers per listing to 2.5. Buyers, you’re facing less competition and have a bit more time to think! Message me if you’re ready to make a move!

Existing home sales continue to decline but we are still firmly in a seller’s market. If you have been thinking about selling and have questions about where the market is heading in our area, message me! 

Additionally there is some reports that interest rates may be sliding downward due to possible  inflationary lessening.  Good News!! 

Happy Thanksgiving Season 

Thinking of Selling in the Spring?

 If you are thinking of  waiting until spring to list, get past the holidays and the weather that comes with living in the midwest, now is the time to take your pictures. Let's be one step ahead and get the best pictures before the snow falls!   I use a professional photography service and the results are amazing! 
Here are some examples!

If you are interested in a no obligation market analysis to see what your home is worth in today's market email me at :

Deb.Fowler.C21@gmail.com

 and get free professional photography when you list with me! 

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

The Scoop on Interest Rates -

Now that rates are climbing there's speculation that the housing market may crash - fortunately that is not the case.  With the limited inventory we are still experiencing there are still very qualified buyers able to purchase.  While it might be a good time to re-visit pricing as rates rise it is still a good time to list your home.  Where we previously had multiple offers and over asking  price offers that trend is re-balancing to a more level playing field.   Below is the average rates nationwide

this is Dave Ramsey's advice on what he is seeing for the housing market in the future.

https://www.youtube.com/watch?v=fORUvZNm3oo

Nationwide as of Sept 30,2022

Conventional 30 year fixed rate  7.492%

FHA  7.18 %

VA 7.25 %

How 's The Local Market?

 Hello - yes, it's been awhile! 

While the market has been on fire this spring and summer we are starting to see a re-balance in the 

local market - a few more homes coming on the market and staying on the market longer than one

day and 10 offers!  This is good news if you are a buyer !  but  seller do not panic!  there are still a lot 

of buyers out there who are looking for your home!  

Take a look at this video from Dave Ramsey - Is the Housing Market Going to Crash? 

https://www.youtube.com/watch?v=fORUvZNm3oo&t=645s

this video is a great explanation of today's market and assures us that the market is not heading 

for a crash...

Until next time, happy buying and selling.

Deb 

It's a Sellers Market

And it's hectic and crazy.  While you might think it's an easy time, I feel  this is one of the hardest markets that I have been involved in since my start in 1996.

The reasons vary and the main reason is the demand is greater than the inventory- which of course makes for the multiple offers on many properties.  The down side is that while its' good for sellers its increasingly hard for buyers and sellers and  the agents who represent them.  Sometimes too good to be true is just that!  we still have inspections and appraisals ! 

Obviously ,only one buyer is going to purchase that home, leaving the others to continue to hunt for any opportunities.  We have to make those calls far to often to let buyers know their best offer was not accepted, call the other agents as well to to let them know when their offers are not accepted.  This all seems like easy work but I promise you it taxes you.  Making the best offer sometimes means cutting out things you would normally ask for, no guarantee it will work but many are buying with out inspections!  ( not recommended) but could be the difference in seller taking that offer. 

 Mentally we are stressed and physically we are getting worn as well.  I feel like it's hard to express the amount of emotion, the dedication, the "all in" that we feel when representing buyers and sellers.  If they feel it, we feel it.  This is not a business where just showing homes is what we do. 

As for me, I know if I am feeling the market stress, the disappointment and the anxiety are real. 

This market will likely have a re- balance as rates increase, but for now we roll with it and try to take time to care for our selves and keep our buyers and sellers in good hands. 

 

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. 

Century21

 Having just recently attended the Century21 International convention I was struck with just how big the Century21 reach is... at the convention there were more than 62 countries represented there!

My small contribution to this global organization, however did not go unnoticed.  I was flattered several times when staff and organizers remembered my name and my company!

Imagine my surprise when I was invited to have a photo with the President and CEO of Century21 Mike Miedler- he is a great guy and has a good vision of what the future will be for Century21 not only in this country but the world.  For my self and my company we are elated to be in the line up with this well organized and visionary team of leaders.

Is it here?

 Those morning sounds are music to my ears.. the sounds of geese flying overhead and the formation of miles of migrating birds.  I love the sights and sounds of spring and this is just one of the signs we are getting closer to warmth and sunshine.  The robins are back and the cardinals never left! the little birds in the morning tweet and twitter! I like the sunrise and am fortunate to have a eastern view and can watch the sky change colors and the sun rise before the day takes over.  

I know the housing market is changing again and we are getting lots of new listings, this too is a sign of spring market ramping up!  If you are in the market to buy or sell - feel free to reach out for more information on how I can help with that move.

Until next time, take a moment to enjoy the sights and sounds of the spring!