I have been hearing a lot of questions lately about mortgage interest rates, so I thought information is always the best way to help people. Here are some interesting numbers for you (everything here is Principal and Interest only, Taxes and Insurance would be added in as well):

Average Rate Right Now on a 30 Year Fixed Rate Mortgage: 4.6%

Average Monthly Payment on a $250,000 home (P&I Only): $1,281.61

Average Monthly Payment on $250,000 at 4.7%: $1,296.59

Average Monthly Payment on $250,000 at 4.9%: $1,326.82

Average Monthly Payment on $250,000 at 5.1%: $1,357.37

For rates jumping 0.5% in this example means an extra $75.76 per month in payments on the same value of home. That equals $909.12 per year. Over the life of a 30 year loan, that equals $27,273.60.

I want to make sure you understand two very important takeaways from these numbers. Number one, a half of a percent increase can mean a good chunk of change over the life of your loan. Number two, we still have a long ways to go before we are above historically low interest rates. What do I mean by that? I actually started in banking in 2005. At that time people were FREAKING OUT about interest rates going as low as 5%. It was almost impossible to conceive of rates being so low. I simply point this out to say that we are still among the cheapest mortgage rates that have ever been. Getting down into the 3% range is simply something that we are very lucky to have seen. Perspective is key here.

The long and short of this is that I tell everyone I talk to that I want to add value to them. Give me the chance to prove it. If there is something that you need help with, let me see if I can help. I have even had people just start talking to me and I give advice. I love to help!

Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.

~Ryan Lynch

I have had a lot of people recently finding out that they could have used me much sooner than they thought. I thought I would point this out to try and make your life easier at some point. You do not need to wait to ask me questions until you are “ready to go”. Here is just a small list of things that you can use me for long before you buy or sell a home:

+ Have me over to give you ideas on what to fix up or update – Have me over one or two years before you are thinking about selling and I can give you ideas that you can spread out over time, so that it doesn’t cost you time and money all at once.

+ Call me for connections – Just a few ideas: mortgage people, contractors, cleaners, insurance people (plus some off the wall ideas: head hunters, health insurance, chiropractors, fitness coaches) – I know a lot of people, and I am happy to help.

+ Call me to value your house – For a home equity loan or line of credit, for taxes, for insurance, just to know, etc.

+ Call me to set up a market search for you – I have had people set up searches years before they actually go to look at houses. This way when they are ready to buy they know more about what is normal in the market and what a diamond in the rough looks like.

+ Call me if you need help with anything. Anything! – I know a lot of people and the people that I know are good people. You are one of them. They want to help. (Update from my email about our friend at Vermeer: He got double digits leads within a week. He got interviews within a week. The best news of all, Vermeer called him and said they had a job for him so he gets his job back and to work for the company that he didn’t want to leave in the first place. YAY!) I love connecting people and helping people. Put me to the test and let me know how I can help you.

The long and short of this is that I tell everyone I talk to that I want to add value to them. Give me the chance to prove it. If there is something that you need help with, let me see if I can help. I have even had people just start talking to me and I give advice. I love to help!

Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.

~Ryan Lynch

Yesterday was my birthday and I spent the day focusing on gratitude. This will not be a normal blog post from me, because I thought that one of the things I should do is tell you how grateful I am for you. If you read this post, or have read any of my previous posts: Thank you. If you have called me and asked me a question: Thank you. If you have used me to help you buy or sell a house: Thank you. If you have used me to make any part of your life simpler: Thank you.

I love getting to help people. Thank you for giving me the chance to maybe add some small value to your life. Thank you.

~Ryan Lynch

If you are thinking about buying or selling a house in the Des Moines area, you need to know what you are walking into. Here are some very relevant statistics for you (all numbers are as of June 30th, 2018):

Months of Inventory for Resale Properties – 1.8 months

Months of Inventory for New Construction – 7.6 months

Active Listings for Resale Properties – 2,223

Pending Listings for Resale Properties – 2,036

Active Listings for New Construction – 1,334

Pending Listings for New Construction – 617

Just look at those huge differences. For a refresher, 0-4 months of inventory is a Seller’s Market, 4-6 months is a Balanced Market, and 6+ months is a Buyer’s Market. Resale houses are in a strong Seller’s Market. New Construction houses are in a strong Buyer’s Market. Resale properties have 91.5% as many houses under contract as there are active houses for sale. New Construction properties are at 46.2% for the same ratio.

What does this mean to you? If you own your home and are thinking about selling it, you are most likely in a very strong position. I am repeatedly seeing houses that are adding $10,000, $15,000, and $20,000 in value PER YEAR!!! Where this is not necessarily true is if you have a resale home over $350,000. At that point you are competing against A LOT of new construction and buyers have a lot to choose from. No matter what your situation, you will need help to navigate the insanity that is this market.

If you are thinking about buying you need to know your inventory levels and how they can be dramatically different by even just a matter of blocks. There are pockets around the Multiple Listing Service where you will have more inventory than you know what to do with and you should adjust your offer strategies accordingly. There are many more places where you need to decide now if you are going to make an offer or not. Getting help will make sure that you aren’t disappointed by missing out on your dream home or paying too much for it.

Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.

~Ryan Lynch

This is really only a post for a home buyer. And it really is only for a buyer who is buying a house with someone else, be that a significant other, a friend, or any other situation. It is just that when I have talked with people about this it has been so helpful for them that I thought it was worth sharing with all of you.

When you are out looking at houses there is only one way that you know which one to buy. It is a feeling. You get a feeling where you know that this is the one. It is really that simple, and it is really that difficult. Unfortunately, I can’t explain it better than that. I have asked countless questions of my buyers to try and figure out a better way to explain what happens, and it really just comes down to you knowing that this is the one.

Honestly, it is magical. I have watched countless people walk into a house and within 60 seconds they are overcome with joy. This is the one! Let’s make an offer. Many more times I have watched people know in 60 second that this is not the one and then spend 30 minutes trying to convince themselves it is.

Now, when buying a house with a partner you are dealing with two people who can have two totally different reactions to a house. What I would caution to stay away from is when one partner loves the house, and the other isn’t sure: don’t give in. Wait for a property where you both love it. I promise it will happen and you both will be so happy when it happens.

Why it is important that I am saying this? I am a realtor who will wait for everyone to be happy. I will not pressure one partner to get a deal together when I know that you will both be more happy (and more happy with me) if you both are excited about the house. Don’t get stuck with a realtor that is in it only for the transaction. I want to be your realtor for life. I want to make sure that you are happy, with the house and each other. Don’t you want someone like that on your team?

Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.

~Ryan Lynch

Have you been thinking about selling your home? According to the National Association of Realtors everything from April of this year is fully in and accounted for and the average days on market hit a record low for that month of 26 days! A full 57% of homes on the market NATIONWIDE were on the market for less than one month.

Looking in the Des Moines Area Association of Realtors market we averaged just 16 days on the market in the month of May. We averaged only 11 days on the market for the month of May if you look only at resale properties (not new construction).

A more telling set of numbers than that:

Listings added to the market in May – 1,228

Listings that went under contract in May – 1,609

A full 31% more listings sold than were put on the market.

What does this mean to you?

If you are thinking about selling, there is more demand than supply at this point. List with me to take advantage of my strategies to get the most amount of money in the least amount of time.

If you are thinking about buying, you need to work with me to have a level headed, experienced professional guide you through the insanity that is this market.

Call me today. You can reach me at 515.639.0047 or RyanLynch@KW.com. I am good at what I do, and I want to help you.

~Ryan Lynch