|
|
Jan 17, 2023
|
|
2022 was wild ride but trends are normalizing and the outlook is positive for both buyers and sellers in 2023.
The year-long trend of low inventory and high demand continued in December. The active listings dipped down to a seven-month low with just 60 houses on the market while the median days on market dropped to six days.
The 30-year interest rates continued to float just above 6% in December. The National Association of Realtors Senior Economist Nadia Evangelou said that rates are expected to stabilize below 6% in 2023, which is positive ne... |
 Read article |
 Add a comment
|  Buyer Blog, Seller Blog
|  Permalink
|
|
|
Dec 15, 2022
|
|
We received a welcome reprieve after 10 months of steadily increasing interest rates, prospective homebuyers got some good news in November. Interest rates have reversed their year-long trend of steadily increasing and dipped back down. Rates are expected to continue to decrease as the Federal Reserve apparently continues to get inflation more under control.
“Thanks to the rate-friendly inflation data, mortgage rates dropped back below 7%,” said Nadia Evangelou, senior economist and director of forecasting for the National Association of Realtors. “It seems that... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Nov 16, 2022
|
|
The period of ultra-low mortgage rates and Federal Reserve policies of injecting liquidity into the financial markets during the pandemic to stimulate the economy has ended. Now monetary policies have been reversed to tamp down the inflation that resulted from the “easy money” conditions and this change in posture is having consequences. The 3% interest rate that people were able to lock in during that two-year stretch has moved to 7%. Individuals and families are now reluctant to give up the attractive rates they are locked into, and are staying in their homes. Builde... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Nov 12, 2022
|
|
Friedrich Iowa Realty is proud to announce that we’ve been named the Best Real Estate Company in Story County for the fourth year in a row! We are grateful and thankful that you all have put your faith and trust in us to be your Realtors for your real estate needs.
Our mission is to enrich lives through real estate, and the fact that you all have voted us Best of Story County for the fourth year in a row lets us know that we are succeeding in our mission. That being said, we will not rest on our accomplishments. We will continue to serve you — the community — di... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Oct 19, 2022
|
|
Real Estate activity adjusts seasonally. We’re approaching the time of year where the real estate market tends to ease and take a breather. Don’t confuse this breather with the market taking a sudden downswing. The Ames market has historically been very resilient compared to national trends.
Over the last month we saw 35 new listings coming to market and 44 listings sold — at a seasonally adjusted rate. Compared to last year, the number of sold homes in the month of September actually increased. In September of 2021, 40 houses were sold, compared to the 44... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Sep 21, 2022
|
|
Signs continue to point toward a normalizing — and healthy — real estate market in the Ames area.
The median days on market is slowly trending upward, which is allowing buyers a better opportunity to view houses and make the best decision for them and their family. The reduced competition has also allowed for more buyer protections in purchase agreements. Things like inspections and home warranties are back on the table. However, the days on market isn’t increasing so quickly that sellers should be concerned. Their houses are still moving at a good pace. Keep in... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Aug 20, 2022
|
|
The Ames real estate market has kept rolling along while the market continues to shift. The “free” money environment of the last two years fueled activity and price increases at unsustainable rates. What we’re experiencing now is a healthy correction to more normal and balanced conditions. Homes in Ames are still moving quickly, they’re still appreciating in value and the number of active listings is on an upward trend.
Interest rates appear to be leveling off between the 5% and 5.5% range, which has caused a market normalization. That interest rate range ... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Jul 12, 2022
|
|
As the real estate market transitions, it’s important to remember that real estate markets are localized. Recently, national news headlines have revolved around housing prices declining and an impending “crash.” Thankfully, the Ames housing market is unlikely to experience any sort of crash. In general, more normal conditions are emerging for both buyers and sellers.
During the mortgage crisis from 2008-10, Ames’ home values remained steady or even slightly appreciated. They did not decrease. The number of homes sold during that time did diminish, but the ... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
Jun 10, 2022
|
|
The market is trending toward more normalization, but robust activity is continuing.
The Ames real estate market introduced 96 new listings in May. That was the most new listings since May of 2020. Because so many homes were introduced, it increased the active listings from 58 to 75. That was the largest increase of active listings since June of 2019 when it increased by 24. Those are encouraging signs for a more normalized market since we’ve been facing a shortage since the pandemic started.
This normalization has been aided by the interest rate increases we&r... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
|
|
May 12, 2022
|
|
Changing winds often bring stormy weather. The Ames real estate market, and the national market as a whole, are becoming more unpredictable. This shift could bring some uncertainty for a period of time as the market transitions.
Your Friedrich Iowa Realty agent is your anchor to keep you grounded as you navigate the changing real estate landscape.
Rising interest rates, which were at 5.11% at the end of April, have been the main contributor to the changing market. Some buyers are moving as fast as possible to lock down the lowest interest rates they can. This is why ... |
|
Read article |
Add a comment
| Buyer Blog, Seller Blog
| Permalink
|
