Just as we don’t get one national forecast for weather, we also shouldn’t get a national forecast for real estate. Too often, Iowans get caught up in the national numbers and with the declines in property values on the coasts.  If you take a closer look, you’ll realize our market really isn’t in the recession that other markets are suffering.  To be fair, no – real estate isn’t as sexy to talk about as it was 2 years ago.  However, let’s be realistic – things aren’t THAT bad… really, they aren’t.  Let’s start acting like it.

According to an update from the Des Moines Business Record today, Iowa’s unemployment rate dropped from 3.8% to 3.6% in January. Also notable, the number of workers increased 9,800 in January.  Elisabeth Buch, Director of Iowa workforce Development said:

“The Iowa labor market grew at a moderate pace in January, while the national economy showed serious signs of faltering.”

Specifics on job growth are as follows:

• 3,900 jobs gained in the service sector
• 1,600 new jobs in transportation and government
• 1,600 new jobs in trade
• 800 new jobs in professional and business services
• 400 new jobs in the finance industry
• 1,000 jobs were lost in construction
• 900 jobs were lost in manufacturing

Again, don’t get caught up in the media hype.  Iowa may have a slight slowdown in our real estate market (watch our weekly market watch), but overall, things aren’t as bad as they may seem in the news.  Yes, foreclosures will continue to be a problem.. and if I don’t already sound like a broken record – things will continue to get worse with foreclosures before they get better.

If you’re an real estate investor in Iowa, you should be out looking for deals.  I have numerous clients that are currently building their retirement plan through real estate, you should be too.