Des Moines Real Estate Roundup 10-31-08

Week Ending October 31st, 2008

Two weeks in a row Des Moines is featured in the media as a great place to live!  On Monday The Today Show featured a segment on the five best real estate markets in the United States.  Des Moines was listed as one of them.  Besides the fact that our unemployment rates are low, we were reported to be a place where “People like each other”!  Well, being an Iowa native, I’ll second that one!

Next week we will elect a new President.  It has been almost two years that candidates have been stomping around our state.  I guess that is the price you pay for being the first in the nation to hold our caucus.  All I can say is…. if they start this early again for the next election… I can’t guarantee I’ll be one of the friendly Iowans….. Just kidding.

 

If you would like to search for homes in the Des Moines area, feel free to visit my website.  I don’t require a login or password and collect no information about you.  You can always contact me if you have questions.  Click Here to begin your own home search or go to http://www.homesbyles.com

Total Number of Homes For Sale in the Des Moines Area – 5,401
New Listings Taken During the Last 7 Days – 212
Accepted Offers (Pendings) During the Last 7 Days – 76
Homes Closed (Solds) During the Last 7 Days – 100
Average Sale Price of Solds – $169,962
Average Days On Market of Solds – 101

 

 

If you have specific questions about real estate for sale
in the Des Moines area, please feel free to contact me by Clicking Here. 

Data Source: Les Sulgrove, RE/MAX Real Estate Group 
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset

Information on this blog posting is for informational purposes only
and not intended as solicitation if you are already working with a REALTOR®.
There is no obligation or fee for any information on this blog posting.

Les Sulgrove, RE/MAX Real Estate Group

Des Moines Real Estate Roundup 10-25-08

Week Ending October 24th, 2008

Good news in the local real estate market is always welcome.  Last week I reviewed the 3rd quarter home sales statistics from the Des MoinesArea Association of REALTORS®.  Late this week Smart Money magazine came out with an article suggesting that Des Moines, Iowa is one of 25 communities that is in the best shape for a rebound.  The article can be found by clicking on the following link.  http://www.smartmoney.com/personal-finance/real-estate/Now-for-the-Good-News-on-Home-Prices/. 

The article research indicates that perhaps Iowans have learned from the 1980’s agricultural crisis.  Since that time we have moved to diversify our economy by focusing on other industries such as Insurance and Publishing.  Des Moinesis the home of Principal Financial Group Insurance and Meredith Corporation, publisher of Ladies Home Journal and Better Homes & Garden Magazine.  We never really experienced the “crash” in the real estate market pricing like many other communities have because we also never experienced the rapid rise in properties values.  Perhaps we as Iowans also cling to our conservative values….   Either way you look at it, Good News regarding real estate values in Des Moines and Central Iowa is ALWAYS welcome!

If you would like to search for homes in the Des Moines area, feel free to visit my website.  I don’t require a login or password and collect no information about you.  You can always contact me if you have questions.  Click Here to begin your own home search or go to http://www.homesbyles.com

Total Number of Homes For Sale in the Des Moines Metropolitan Area – 5,412
New Listings Taken During the Last 7 Days – 181
Accepted Offers (Pendings) During the Last 7 Days – 64
Homes Closed (Solds) During the Last 7 Days – 52
Average Sale Price of Solds – $159,126
Average Days On Market of Solds – 81

 

 

If you have specific questions about real estate for sale
in the Des Moines area, please feel free to contact me by Clicking Here. 

Les Sulgrove, RE/MAX Real Estate GroupInformation on this blog posting is for informational purposes only
and not intended as solicitation if you are already working with a REALTOR®.
There is no obligation or fee for any information on this blog posting.

Data Source: Les Sulgrove, RE/MAX Real Estate Group 
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset

Des Moines Real Estate Roundup 10-17-08

Week Ending October 17th, 2008

3rd Quarter DMAAR MLS Statistics

This week I want to review the 3rd Quarter MLS Statistics for The Des Moines Area Association of REALTORS® (DMAAR).   Now there has been doom & gloom in the media over the housing crisis much of this year and the past 2 weeks were particularly painful.  So when 3rd Quarter statistics were released by DMAAR, I wasn’t sure I wanted to see them.  But what I found was interesting.. and dare I say encouraging…. 

Let me explain.

Active Listings (Homes for sale) began the year higher than 2007 until May when the Active Listing inventory began to fall off.  This is good.  In a market where buyers haven’t been buying as fast as previous years, an increase in homes for sale would only stifle the market. This September ended with over 900 fewer homes on the market.  What does this mean?  Sellers on the market now are serious about selling.

Contracts Written (Sale Pendings) have been creeping towards last years numbers ever so slightly.  September ended up with only 36 fewer contracts written from a year ago.  This is good.  The best measure of the state of the market is how many offers are written and accepted.  It will be interesting to see if this trend continues into October.  It will be interesting to see if the volatility of the stock market in October has any effect on buyers confidence.

Closed Transactions (SOLDS) are maintaining a steady level.  In fact, since April the number of closings have hovered between 749 and 824.  There is no doubt that there have been fewer homes sold in 2008, but to not see a major drop from August to September like we did in 2007 is encouraging.

Average Days On Market (DOM) is a barometer of how long sellers must wait for an offer.  Two points on this chart.  Days on Market have been trending lower from earlier in the year and September of 2008 was within 10 days on average of the time it took in 2007 for a home to find a buyer.

Average Sale Price 2007 vs 2008 YTD.  2008 started out strong in January with a higher Average Sale Price.  April & May both also posted higher Average Sale Prices from 2007.  The remaining 6 months of 2008 have experienced lower Average Sale Prices.  Overall however, if you look at the average of all 9 months of 2008, we are dead even with 2007.

Am I being overly optimistic?  I don’t think so.  There hasn’t been a year like this in the 18 years that I’ve been a licensed REALTOR®.  We have so many factors to take into consideration; an election year, the housing crisis, a major builder in Iowa going under; mortgage qualification guidelines have tightened just to name a few.  All in all, we still have terrific interest rates!  It’s a buyers market!  We haven’t seen the kinds of declines in property values that other markets have.  So if you’re on the fence as a buyer – JUMP OFF! or frustrated as a seller… HANG ON!  This is a cyclical business.  That AND THE ELECTIONS WILL BE OVER SOON!

 

Total Number of Homes For Sale in the Des Moines Metropolitan Area – 6,109

New Listings Taken During the Last 7 Days – 227

Accepted Offers (Pendings) During the Last 7 Days – 81

Homes Closed (Solds) During the Last 7 Days – 51

Average Sale Price of Solds – $173,360

Average Days On Market of Solds – 86

 

 

If you have specific questions about real estate for sale
in the Des Moines area, please feel free to contact me by Clicking Here. 

Les Sulgrove, RE/MAX Real Estate GroupInformation on this blog posting is for informational purposes only
and not intended as solicitation if you are already working with a REALTOR®.
There is no obligation or fee for any information on this blog posting.

Data Source: Les Sulgrove, RE/MAX Real Estate Group 
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset

Des Moines Real Estate Roundup 10-10-08

Week Ending October 10th, 2008

Dramamine Anyone?

Dramamine is an over-the-counter drug used to prevent nausea and motion sickness.  It could also be prescribed for watchers of the stock market.  If you are a “Player” in the market, whether it be by stocks or even your 401K, the last week has been one of the most stressful you have probably ever experienced.  Are we finished yet?  The Dow at one point today was 700 points down and up 300 points later in the afternoon finishing finally at 8,451 down 128.00. 

I think that many would agree when I say that election day can’t come fast enough.. Call me a cynic, but I believe that if the Presidential election wasn’t occurring until next year, we wouldn’t be experiencing the financial crisis we are today. 

 

Total Number of Homes For Sale in the Des Moines Metropolitan Area – 5,438

New Listings Taken During the Last 7 Days – 244

Accepted Offers (Pendings) During the Last 7 Days – 79

Homes Closed (Solds) During the Last 7 Days – 64

Average Sale Price of Solds – $166,078

Average Days On Market of Solds – 95

 

 

If you have specific questions about real estate for sale
in the Des Moines area, please feel free to contact me by Clicking Here. 

Les Sulgrove, RE/MAX Real Estate GroupInformation on this blog posting is for informational purposes only
and not intended as solicitation if you are already working with a REALTOR®.
There is no obligation or fee for any information on this blog posting.

Data Source: Les Sulgrove, RE/MAX Real Estate Group 
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset

Des Moines Real Estate Roundup 10-3-08

Week Ending October 3rd, 2008

Congress followed suit this week by passing the Senates version of the Financial Crisis Bailout bill.  It has been described by some as the salvation of the US Economy all the way to a Crap Sandwich.  Either way, for the housing industry it should give relief to banks and home owners facing potential foreclosure.  How fast will we all begin to see the effects of this bill?  According to economic experts it won’t happen overnight.  Somewhere around 30 days to 3 months seems to be the consensus. What are your thoughts on the Bailout Bill?  Salvation or Crap Sandwich?

 

Total Number of Homes For Sale in the Des Moines Metropolitan Area – 5,420

New Listings Taken During the Last 7 Days – 303

Accepted Offers (Pendings) During the Last 7 Days – 103

Homes Closed (Solds) During the Last 7 Days – 153

Average Sale Price of Solds – $162,856

Average Days On Market of Solds – 80

 

 

If you have specific questions about real estate for sale
in the Des Moines area, please feel free to contact me by Clicking Here. 

Les Sulgrove, RE/MAX Real Estate GroupInformation on this blog posting is for informational purposes only
and not intended as solicitation if you are already working with a REALTOR®.
There is no obligation or fee for any information on this blog posting.

Data Source: Les Sulgrove, RE/MAX Real Estate Group 
Des Moines Area Association of REALTORS® MLS.
Des Moines Metropolitan Area defined as: Adel, Altoona,
Ankeny, Bondurant, Carlisle, Clive, Des Moines, Dallas Center,
Desoto, Granger, Grimes, Indianola, Johnston, Norwalk,
Pleasant Hill, Polk City, Urbandale, Van Meter ,Waukee,
West Des Moines, Windsor Heights, Winterset