Real Estate Market Snapshot For June 2015

Second Quarter 2015 Recap

Continuing on the same path as reported at the end of the first quarter, Des Moines REALTORS® have closed over 3,400 home sales in the 2^nd quarter of 2015 and over 5,600 since January 1^st putting us almost 19% ahead of last year.

7 Tips For Home Buyers and Home Sellers In A Fast Paced Market

As A Home Buyer

Have a mortgage Pre-Approval Letter (not a pre-qualification) from a LOCAL mortgage lender
- It is not a blank check to purchase a home, but you will know what you can afford and equally important, you can prove to a Homeseller that you are able to purchase.
- Working with a local mortgage professional allows you to quickly obtain a property specific pre-approval letter on a home that you find taking into account the local property taxes and if applicable, any association dues.
Establish an exclusive buyer agency agreement with your REALTOR®
- Your REALTOR® is the best advocate for you in your home search. Many times they know about properties that are coming on the market before they are listed.
Be prepared to go see a new listing at a moments notice
- The median days on the market for a well priced, well staged home in the under $200,000 price range this 2^nd quarter is 22 days!
- If your work schedule allows, you could edge out another buyer by getting into a brand new listing first.
Understand that it may take an “On the spot” decision about a home you like
- That home you saw today and want to think about until tomorrow morning may be the same home that someone else saw last night and thought about until this morning.
- Bring your “Wants & Needs” checklist along with a tape measure to each home.
- Ask your REALTOR® for a list of home inspectors ahead of time.

As A Home Seller

Prepare, Price and Stage your home Compellingly – Quality AND Condition Matter!
- You want a homebuyer to view your home and feel compelled to make an offer before someone else does. Think fresh paint, carpets cleaned, etc.
Include a Home Warranty for your buyer as part of your home sale
- Removing concerns and potential reasons to negotiate a lower price will pay off in many cases with a home warranty.
Be flexible for showing requests
- When your home is for sale, it needs to be kept in show condition.
- Be prepared to leave for a buyer and accommodate short notice showings.
- Turn on lights in every room and put on soothing music throughout the home.
- AVOID masking the home with scented candles.
- Lastly – we love our pets, but at the very least kennel them during showings and better yet, take them with you during showings.