The real estate market in Des Moines right now is crazy for buyers and sellers. Let me tell you two stories to explain:
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1. Right now I am working with buyers who have had two houses that they have wanted to buy so far. They are anxious to take advantage of interest rates still being near the 52 week low. The first house they placed a full price offer on, and did not get because they were outbid. The second house we went to make an offer on yesterday, and it had gone under contract yesterday. Moral of the story: if you want to take advantage of the incredibly cheap money right now (Sub 4% on 30 year fixed, and sub 3% on 15 year fixed), you need to be willing to move fast and pay for what you want.
2. I have sellers that I first talked to in January of this year. They wanted to sell their house, and at that time the market was saying we should list at $206,000. They wanted to do a few repairs and I agreed with them. I listed their house two weeks ago and the market said we should list at $215,000. Their house went under contract yesterday. That is an almost $10,000 price increase in less than two months. The biggest difference though was that when I looked at their competition in early March, there was no house within a mile of them priced below $240,000. They had no competition. That is what I am finding everywhere.
So right now is an incredible time to buy, because you are paying interest rates that are barely above inflation. Right now is also an amazing time to sell, because all of these buyers are out there with nothing to look at. You have no competition.
If you or someone you know are looking to buy a home, sell a home, or invest in real estate: CALL ME! You can reach me at 515.639.0047 or RyanLynch@KW.com
~Ryan Lynch
