What’s The Real Estate Market Doing?

Do you ever wonder how our real estate market is here in Des Moines? Unfortunately, we spend a lot of time listening to how rough things are in other cities around the country, but too often we don’t really consider what our real estate climate is like.

I’m a fan of having as much information available before I take action on any big decisions. I don’t know about you, but I think buying or selling a home is a pretty big deal.

As a blogger and mortgage professional, when I receive good information – I pass it on. Home listings and sales are an interesting set of information most of us don’t have super easy access to. Thankfully, I have a Realtor that hammers me with e-mails (Just kidding, I don’t mind them) on market updates and her opinion on where things are at.

Do YOU Need Help?

As a mortgage professional, I cannot sell real estate.  I can however help you connect with a Realtor.  If you are looking for some answers, I’d be happy to introduce you to someone who can help!  No question is silly or too off the wall.

I can also reach out to my connections throughout the country if you’re looking for real estate outside of Iowa.  So please, feel free to contact us, we’d love to help!

Why Should You Care About Statistics?

Whether you’re looking to purchase, sell or refinance a home – this stuff matters. These statistics are compiled from the Multiple Listing Service and cover the Des Moines, Iowa residential real estate market.

With her permission, I post the facts here so you can come up with your very own market opinion. Here’s this week’s market commentary:

“As we head into the end of October and towards the holiday season we are starting to see a decrease in activity out there in the Des Moines real estate market.  Sales are still on the strong side and our numbers continue to be above what they were at this time last year, however we are starting to see the pullback that we typically see this time of year. 
 
From what I’m seeing, hearing, and reading it sounds like the seasonal pullback is being somewhat magnified by the potential of the first time homebuyer tax credit to expire or be extended.  I mentioned this last week and there is more news this week.  The current piece of legislation to extend the tax credit that seems to be the most promising is a measure that would extend the tax credit through 2010, but phase it out after April 1st 2010.  Basically the $8000 would stay in effect through March 31 and then after that the credit would decrease $2000 per quarter ending December 31, 2010.  From the news articles I have been reading this sounds like our most likely scenario and we are hopefully expecting to see a vote by Wednesday in the Senate and Thursday in the House.  I will keep on this for you all and let you know just as soon as I hear any news!”

–Heather Barglof, RE/MAX Real Estate Concepts

What Does This Report Cover?

I really enjoy this chart because it gives a breakdown of:

• Days on the Market
• Price Per Square Foot
• Number of New Listings
• Number of Expired Listings
• Number of Price Reductions
• Pending Home Sales (by price)
• New Home Sales (by price)
• All Active Home Sales (by price)
• Best of all, it compares this week vs. last week and last year!

This is a great chart.  I’m not a Realtor and would never try to take the place of one.  If you’re looking for statistics in your specific neighborhood (because your neighborhood is the only one that matters when you’re selling), I can help connect you with the right Realtor for the job!

We Love Great Information and Love to Give Great Information!

If you’re a super cool person and have any market statistics you think our readers would find valuable, please feel free to contact me. If it’s relevant, It’ll show up here!

If you’re looking for my professional opinion or looking for a comment (press related), please contact me here.

Tagged as: first time home buyer tax credit, tax