What types of communities are available in Iowa and what is the real estate market like? Well first you should know that Iowa is a land locked state. This means that you do not have the water from Lakes or the ocean in the area like Michigan or Florida. This means that most often you have to look for the communities that offer lakes and hope that the Iowa real estate is still affordable. Most of the communities available in Iowa are generally farming, and agriculture. However you can find some really pretty places to retire in Iowa in the north if you are interested. As for the market, like most of the United States it is seeing a low. Foreclosures and investment properties are really what is available.
Before looking at the general market let us look at the investments you can find. When homes are being foreclosed on that means many individuals are looking to rent, it also means that many investors are able to find properties for a decrease in actual value. Therefore, for investors you may want to check out properties that require a fix and flip or a rental investment. Many individuals will need to rent the homes for around $1000 a month or less. This means that the deal must have some long term return or a mortgage that can handle such a low rent for a home. Keep in mind that many of the individuals looking for rental properties probably had a foreclosure so they really need a deal.
Other investments on the positive side of things are places that have acreage. Many individuals who are retiring no longer want to live in the city or near any neighbors, so if you are struggling or wishing to move out of Iowa real estate a good time to sell is now as long as you have acres to go with the property. You will find that even at a discounted value on the home you are still getting a fairly good deal, and the home will be on the market less time than those individuals are not looking for.
So what are some of the types of housing available? Unlike most places you will not find many condominiums even in the cities of Iowa. Apartment complexes are hot in cities as are small homes, but condominiums are generally left for more metropolitan areas or the beach. You can find homes that are on lakes, some of these may be built in the 80′s and some will be new construction. In most cases the homes are single family farm style or ranch style. This means they are generally going to be one story, with two or three bedrooms and the kitchen in the middle to break up the home. In addition, as I mentioned above you will find some of the homes out in the country will also have a significant amount of acreage with them. This can be a great investment even for a family.
About the Author
Tom Beaty offers Iowa Real Estate information for buyers and sellers. Don’t buy or sell without visiting this Blog or it could cost you: Iowa real estate