Des Moines House Selling Specialists

Real Estate Consultants in Central Iowa

What Does “Rates are Low” Mean to You?

I keep saying rates are incredibly low, but what does that actually mean? Let’s look at some facts;

In 1995, the median home price was $114,600. (Adjusted for inflation, that would be $178,074 in today’s prices.) The average mortgage rate was 7.9%. This means on that $114,600 home, you would have been paying $833 principal and interest. (Adjusted for inflation, that would be $1,295 in today’s market.)

In 2015 the median home price was $222,400 and the median mortgage rate was 3.86% which would make your monthly principal and interest payment $1,044.

Using the adjusted for inflation numbers from 1995, that means that right now you can buy a bigger, or better house ($178,074 vs $222,400) and pay less money for it ($1,295 vs $1,044).

That means that right now it is an incredible time to buy. You have more spending power. Since 2010, rates have been their lowest in February. Meaning that now we are on a climb up, historically.

That also means that it is a great time to sell. There are a lot of buyers out there trying to take advantage of this cheap money. And as of the beginning of this week, the Des Moines Area Multiple Listing Service dropped below the 3,000 level of inventory for the first time in a decade. That means that right now you have the least competition for selling than you have had since 2006.

If you are thinking about buying or selling, this is incredibly powerful information for you. Do not wait. Historically rates go up come March, April and May. Historically, inventory goes way up once Spring hits. Right now both are at historical lows. If you know someone that has been talking about buying or selling. Show them this. Then have them call me, Ryan Lynch: 515.639.0047 or email at RyanLynch@KW.com. Get more money for your house. Sell it in less time. Use a professional that actually watches all of this information for you to negotiate aggressively for you. Call me.

Beat Everyone Else!

You have less than two weeks to beat the market. If you are thinking about selling your house anytime soon, you have less than two weeks to beat everyone else to the market. March will be the beginning of more and more houses coming on the market. In April, the floodgates will open. Right now, there is so little inventory on the market, you have no competition whatsoever.

Right now the 30 year fixed rate (as of Feb 17th) is 3.63% The 52 week low is 3.55% That means the mortgage rates right now are only .08% off of the lowest they have been in the entire last year. If you don’t think that drives more buyers to be out shopping RIGHT NOW, I will write another post about supply and demand later.

So right now mortgage interest rates are almost at the lowest they have been, and inventory is at the lowest it has been as well. If you are interested in getting your house sold for more money in less time, you can reach me at 515.639.0047 or RyanLynch@KW.com. Pass this on to any of your friends or family as well if you want them to know that you helped make them more money.

~Ryan Lynch

Strike While the Fire is HOT!

People are still holding off putting their houses on the market, and again I want to tell you more reasons why you shouldn’t wait. Inventory levels are still low. In almost every market that I look at around central Iowa, we are still in a strong Seller’s Market. In some micro-markets there is less than a month’s worth of inventory.

On the flip side of that, houses sold and houses pending are reaching historic levels. In January, 2016 houses sold is up 18.2%(!!!) year over year. 579 houses closed in January. Houses put under contract is up 23.5%(!!!) year over year. In January alone 1,749 houses were put under contract. These jumps are insane.

To put that in perspective, 2014 was a good year for real estate. Total houses sold in our market was 11,451. 2015 was even better. Total houses sold in 2015 was 12,963 houses. And now January is 18.2% above last year’s huge pace.

If you combine that with the extreme seller’s market levels of inventory it means that if you were to put your house up for sale now you would be doing so at a time when your competition is non-existent and you are at record levels of house sales. Doesn’t that seem like a pretty ideal opportunity for getting your house sold in the least amount of time for the most money possible?

If you, or someone you know, are thinking about selling your house; let a house selling specialist guide you through the process. You can reach me at 515.639.0047 or RyanLynch@KW.com. Let a professional make you more money in less time.

~Ryan Lynch

House Selling Specialists – Central Iowa

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Office Location:

House Selling Specialists
Keller Williams Greater Des Moines
4001 Westown Parkway
West Des Moines, IA 50266

We Help You Sell Your House and Find Your Dream Home

Our goal is to help you get your current house sold in less time, for more money, and without all the hassles. This will allow you to get into your next home as soon as possible.