Mortgage defaults in the Des Moines real estate market are all over the news, and home sellers are left wondering what will happen to their homes. Without the much needed level of subprime mortgages to balance out the market, how will home purchases rebound, or better yet, remain consistent? Home sellers will need to step up the game in order to entice new buyers to purchase their homes. It is no longer the simple task of finding a mortgage and buying, now, with mortgages being more tight reigned than ever before, it is about showing why your property is THE one to buy.
Home sellers can list their home below market value, offer open houses and even advertise their property only to find that their home remains on the market month after month. Mortgage approvals are following stricter guidelines thanks to a wealth of subprime foreclosures and buyers are feeling the weight of this crunch. If a seller wants to sell their home, they will need to show why the home is a great deal.
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.