Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as: “the amount of a commodity, product, or service available and the […]
Boomerang Buyers: Most Qualify for Financing in 2-3 Years
What Should You Look for In Your Real Estate Team?
NOT Owning Your Home Can Cost You a Lot of Money!
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Realtor.com recently reported that: “Buying remains the more attractive option in the long term – that remains […]
How to Make a Wants Vs. Needs List for Your Home Search
It’s spring, which means home buying season has officially arrived! If you’re on the hunt for a new home, chances are you’ve already thought about the features you’d like to have. However, one important part of searching for homes is making a distinction between your needs and your wants. Needs are amenities or features you […]
1st Quarter Des Moines Real Estate In The Books
This Market Is Different From Previous Years 2017 Was All About Home Inventory Ever since 2009, the number of homes for sale has been on a steady decline. 2018 is bucking that trend with a welcomed rise in home inventory for buyers to choose from. But the increase is not from more homes being added […]
The Cost of Renting vs. Buying Today [INFOGRAPHIC]
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find […]
99% of Experts Agree: Home Prices Will Increase
Some believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year. What is the Home Price Expectation Survey? Each quarter, […]
Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!
Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you […]
Buyer Demand Still Outpacing the Supply of Homes for Sale
The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic […]