Good News in Des Moines Real Estate Market

"Homes sold in the Des Moines metro area climbed 26 percent in December compared to a year earlier" quote from the Des Moines Area Association of Realtors. The article in the Register reports that December pending sales were 1 % lower than in December 2009. The average sales price has increased $3000+ to $163,002. The number of houses sold in December were an increase from a year ago. The average price increased. Days on the market decreased. These are all good signs for our local market.

The gloom and doom news pushers are constant and loud. We have to listen to hear the good news that's right here locally and learn to tune out the naysayers.

The Eisenlauer Team has weathered many market conditons over the years and love what they do. Helping people buy and sell real estate here in Des Moines. We're experienced and optimistic.

Bob 979-2883 Bill 770-2455

Update on Foreclosure Notices in Iowa

Cara Heiden, co-president of Wells Fargo Home Mortgage of West Des Moines talked about foreclosures last week in the Des Moines Register. She says foreclosures need to move forward. "In general, no one is being foreclosed on who shouldn't be." She says that Wells Fargo borrowers who lose their homes have not paid mortgages an average of 16 months. Does that make you think the process needs to be streamlined? Can you imagine living in your home for over a year and not making a payment? You could, conceivable, save up a good chunk of cash and buy the next house on contract. Or you could be irresponsible, neglect maintenance, tear up the property, put tenants in and collect rent, be your neighbor's worst nightmare..for well over a year.

The Business Record reports that one in every 896 housing units in Iowa received a foreclosure filing in October, compared with one in 79 housing units in Nevada, the national leader. See how fortunate we are! Polk County had 428 foreclosures in October. Realty Trac vice-president, Rick Sharga, says "The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy."

As always, we can take the lemons and make lemonade. Those foreclosed houses are going to make someone a good home. Maybe you?

Bill 770-2455 Bob 979-2883

Real Estate and Trust

A headline in Sunday's Register read "mortgage fallout erodes lifetime of trust and confidence." It lists several areas of blame. I think I could make my own list, just citing common sense. No document loans? Drive-by appraisals? Nothing down? Why did any of these things ever seem like a good idea? And now the latest debacle - robo-signing foreclosures. The register article calls it "the most blatant abuse of trust yet. But it is also the easiest to fix. All the banks have to do is go back and actually do the work."

Another Register article from Nov. 3 quotes co-president of Wells Fargo Mortgage in Des Moines, Cara Heiden, "Home ownership is still valued by American families. When families own their own home, they feel rooted, they're safer, children do better in school, with higher rates of high school and college graduations. Housing is critical to the U.S. economy, contributing 15-20 percent of our country's (gross domestic product).

That's a lot of good reasons why home ownership will continue to be the American dream. Despite the "bumps in the road", it's a good time to buy real estate. The interest rates are still at all-time lows. There are plenty of homes to choose from. The prices are right. Mortgage interest is still deductible. AND the Eisenlauer Team are Realtors you can trust.

Bill 770-2455 Bob 979-2883