Blog Archives - Page 8 of 20 - Des Moines House Selling Specialists

You Would Actually do that?

I have been very lucky with the people that I get to work with. I find it funny that I have had clients tell me that they are upset that I dressed up to show them houses, and I have never had a client say the opposite. It is wonderful to have clients that see me as a friend and trust me.

One question that I get a surprising amount is “You would actually do that?” You see I always ask everyone if there is anything that I can do to help or add value to their world. Most of the time people just assume I am talking about real estate related things, but I have had people ask for help in many different areas.

I had one client that neglected to do some repairs they had agreed to until the night before closing. They were sitting on their roof in the dark trying to fix something and I offered to come over and help. “You would do that?”

I have had clients looking for new jobs and need connections. I have connections, and I love to help. “You would do that?

I have offered to help clients in so many ways and been asked that question so many times. For me I see it all as helping. I love to help. It doesn’t matter if I am currently helping you buy or sell a home. It doesn’t really matter if I ever help you buy or sell a home. How can I help?

For the market part of this post I am going to give you three numbers:

New Listings in August 2019: 1,233

Pending Transactions in August 2019: 1,196 (houses that went under contract)

Price Reductions in August 2019: 1,784

What do these three numbers mean? Here are a few of my takeaways:

More and more people are getting on the market. Our inventory has stayed above 4,000 units since my last post. We had more listings than sales.
Buyers are being more cautious. Those 1,784 reduced prices are more than a third of the entire house market. Keep in mind they also are ready to go. Interest rates are still ridiculously low!
I still say we are at the top of the market, and I still say I have no idea how long we will be here.

Interest rates are low, inventory is getting higher (it is still historically low), and there is still so much happening. We are on track to sell 14,000 units again this year which is a lot of houses. If you are thinking about buying or selling, get help. I can help you position yourself well in the market whether you are buying or selling. Get expertise on your side when you are making one of the largest financial decisions of your life.

I love doing what I do. I love looking at the market, and I love building relationships with the people that I get to help. Let me know how I can help you. 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

It’s Over 4000!!!

Just pretend I have Photoshop capabilities and that reads 4000…

Well the Des Moines area real estate market broke 4000 active, available homes! 4049 as of this writing in fact. If you look through this blog you will see that we have been in the 3000’s for quite some time. We have even had points where we had over 3000 pending sales at one time over the past few years. Hitting over 4000 active houses has been a long time coming.

What does this mean to you?

If you are a buyer you have got to be happy right now. The largest inventory we have seen in a while with the lowest interest rates. (I just saw 2.75% for a 15 year mortgage and 3.5% for a 30 year mortgage!!!) That means more to choose from and cheaper money for you.

If you are a seller it means you have more competition. It means that you need to price according to that competition in order to compete. It means having someone that can read the market would be invaluable to you.

The good news is that I am here, excited to help you sell your home, or buy a home, or both! I am always very happy to help!

~Ryan Lynch

Thank You!!!

I started a tradition a couple of years back of giving as much gratitude as I could on my birthday. Today being my birthday I just wanted to say thank you all so much for letting me into your world and letting me help you. You are all so amazing and I love getting to spend my time serving you.

Thank you so much!!!

~Ryan Lynch

Just Ask

I have been talking to several clients lately where they tell me about an issue and then it turns out that it is something that I can easily help them with. I think it is important to say that you should feel free to just ask me. I have been surprised at what people have brought up that I could happily help them with.

Referrals are the easiest thing. My entire job is connecting with people, and I call everyone that I have a phone number for, at minimum, once a quarter. If you have anything that you are working on where you need to talk to someone, I probably know someone great for you to talk to.

Jobs is another one that comes up a lot. I have lived in Des Moines since I was two years old and I have been me the entire time (someone who talks to everyone). If you have a company you are trying to get into, I probably know at least a few people there. If you have a person you are trying to connect with, I might know them, or someone who knows them. (And if you are that person, I always check with you first!)

One that came up recently that made me giggle was one of my clients was interested in getting into real estate investing and didn’t think to run anything by me. I do flips, rentals, residential, and commercial. I am well informed and well connected. I can give you contractors, wholesalers, hard money lenders, bankers and much more if you just ask.

Then there are the off the wall ones. I have had people that just need to talk through an idea that they are having. I LOVE DOING THIS! I have honestly sat on the phone or in a coffee shop for hours with clients talking about the furthest things from real estate possible. I love getting people to think about things in a different way, and coming at ideas from an outside perspective. Just ask.

I won’t belabor the point. (Hopefully, I have not already.) I ask every one of you every time how I can help out or add value to your world. Give me a try.

~Ryan Lynch

Back to Crazy Low Interest Rates

I just need to point out what is going on in the rate market, because we are back to the crazy point that we haven’t seen since late 2017. Yesterday I saw 15 year mortgages at below 3%! 30 year mortgage rates are at 3.5%!

If you have thought about buying, this is an ideal time to get your rate locked in and put a house under contract. If you have a mortgage above 4.5%, look at refinancing. If you read my last post about the benefit of a 15 year mortgage, then I would recommend looking into it. My wife and I refinanced our 30 year mortgage into a 15 year mortgage when rates were at 3% last time. We lost mortgage insurance, and our payment went up only $100 per month and we saved six figures in interest!!!

Basically, look at your mortgages and see if this would be helpful. I can connect you with mortgage brokers if you need, just let me know. I do not know how long these rates will stick around, but I know if you have thought about moving, this will be one of the cheapest times to get a mortgage in history.

~Ryan Lynch

What Type of Mortgage Do You Have?

I am going to share an opinion that I thought might help some of you. My opinion is that a 15 year mortgage is a much better financial decision than a 30 year mortgage. I fully understand that a 15 year mortgage could potentially price you out of being able to buy where you want to buy. The monthly payments will be higher than a 30 year mortgage. What I am looking at when I say this is the full cost of your mortgage.

According to MortgageCalculator.org here is a simple idea of what I am talking about. If you were to buy a $200,000 home and put $5,000 down and get an interest rate at 4%, here is what you would pay over the life of your loan:

Total Payments over 30 Years = $343,595.54

Total Payments over 15 Years = $262,961.71

That is a difference of $80,633.83 over the life of your loan. Again, I fully understand that there will be a difference in payments. On the above 30 year option your monthly payment would be $1,012.21 while it would be $1,523.64 on the 15 year option (plus taxes and insurance for both). I am just saying that you are paying $80,000 less for the same house. Plus, you have 15 years less of payments. Imagine what you could do with an extra $1,500 a month for 15 years of your life.

Again, this is not for everyone. I just believe that not a lot of people understand this, and that some people will be blown away by this.

Now onto current market conditions in Central Iowa:

We are in a different market than we have had over the last few years. At this time of year over the last few years we have seen active listings and pending listings (listings that have been put under contract) be at almost the same level. That is not true this year. As of May 29th, 2019 there are currently 2,655 pending listings and 3,685 active listings.

What does that mean? Buyers are getting more cautious. Sellers are pricing their houses at the top of the market. Those two things combined mean that we are seeing things move a little slower. To be fair, we are only about 200 closed sales behind this time last year. And last year was record breaking. This is not a huge slow down. It is a slow down though.

It means that you need to make sure that you are pricing in line with the market and that you are paying attention to what is happening in your market. Simply, push the easy button and call me. I will give you more information than you know what to do with and I will help you interpret it. Then I will work with you to get you through negotiations and to closing day.

~Ryan Lynch

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You Would Actually do that?

It’s Over 4000!!!

Thank You!!!

Just Ask

Back to Crazy Low Interest Rates

What Type of Mortgage Do You Have?

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