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:

“Lots of great news to report this week on the real estate market.  First up a report was released last week showing that pending home sales in the U.S. rose 6.1% in September which is the 8th straight month that we have seen the number of contracts written on homes rise.  September 2009 sales are up 21.2% from a year ago in September of 2008.  This large increase was most definitely due to the end of the homebuyer tax credit however just yesterday the senate passed the bill that will extend the tax credit thru April 30th of 2009.  Homebuyers would then have an additional 60 days to close on their home (until June 30th). This new measure also expands the tax credit to include move up buyers (must have owned their last home for 5 years) and would give those buyers a tax credit of $6,500.  Now this measure is not a done deal yet, it still has to pass the House of Representatives, but everything I have been reading is indicating that this will happen. 

If this measure does pass you can expect to see the amount of inventory in Des Moines rise as many people will put their homes on the market.  It will take some time to get the move up buyers homes sold and for them to purchase more expensive homes, but I think that this measure will very likely help all price ranges just like the current tax credit did.  The question is though, come April 30th when the market typically is getting hot, what will happen?”

–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, house of representatives, move up buyer tax credit, pending home sales