A look at the Days on the Market for January to June, 2008 by: Brian Wentz, REALTOR
2008 has thrown every obstacle at the Des Moines Iowa Real Estate market one can think of. From a ridiculously hard and cold winter, to summer floods and tornado's, not to mention the national media beating the "The Market is Bad" drum, we have seen out share of headwinds in the market in 2008!
But the numbers show the resiliency of the Des Moines market! After a pretty substantial jump in the number of days it has taken to receive an offer in February, March and April (when the weather ruled the headlines), the Des Moines Area Association of Realtors stats show the market is gaining steam!
In fact the average number of days it took to receive an offer was down by almost 20 days in June! That is great news for home owners wanting to sell their home in the current market! Those are much more typical numbers for the Des Moines market, and a positive sign of things to come!
If you are planning to buy or sell a home in Des Moines, this type of information can be of great assistance in planning your move! Let's talk about your potential move today!
How the "Home Buyer Tax Credit" can help you buy your first home in Des Moines NOW! by Brian Wentz, REALTOR
This week brought first time buyers in Des Moines a new Federal Tax Credit that can be a great reason to start looking for a first home, especially if you have been sitting on the fence waiting for the right time to get into the market!
The bill, H.R. 3221, the Housing and Economic Recovery Act of 2008, passed congress and was signed into law this week, giving first time home buyers up to a $7,500 tax credit incentive to purchase a home between April 9th, 2008 and July 1st, 2009. Law makers offered the incentive to jump start entry buyers, which can have a ripple effect throughout the markets. And it may well do just that!
Unlike a tax deduction, which only saves a tax payer a partial amount, the Tax Credit program is a dollar for dollar reduction in federal taxes due, up to $7,500.
So it works like this: Lets say a first time buyer owes Uncle Sam $6,000 in federal taxes-- under the new program, eligible tax payers would see the $6,000 tax bill wiped out, and would still receive a check for the additional $1,500. A tax payer who was owed a refund of $2,000 would now receive a refund of $9,500! (Based on a married filler, making less than $150,000 a year.)
The program does have a payback provision, meaning recipients are required to pay back up to $500 each year to the IRS, for up to 15 years. But that essentially means a 15 year tax free loan from the government! Not bad, eh! And as as added incentive, if you sell the home and do not make a profit, the credit is forgiven. Alternatively, if you were to sell and make a small profit, only the amount of profit would be owed to the IRS, with the remaining balance forgiven!
The tax credit will benefit first time Des Monies home buyers' (defined as someone who has not owned in the past three years) in several key ways. Buyers may find they are able to put down larger down payments on loans, knowing they will owe less on their Federal tax bill in 2008/09. That results in lower monthly payments, and less expensive mortgage insurance premiums! But the program may also make properties which need a little work more enticing, as the cost to make repairs will be offset by the credit program. (Can you say new roof and AC??)
With low interest rates, good inventory levels, and a NEW TAX CREDIT, Des Moines area home buyers should have all the incentive they need to get out of their rental and into their first home!
Staging a home to bee seen in it's best light. by: Brian Wentz, REALTOR
I recently ran across a listing in the Des Moines MLS that caught my eye... A click on the virtual media link made me chuckle.
As an agent, we frequently are in a position to coach sellers on what to do get their home sold for the most money. Often a fresh coat of paint, and some staging does the trick.
Beth and I always say "We LIVE in homes differently than we SELL them..." Buyers prefer to be able to picture themselves living in a home, as opposed to the current sellers...
Here is a great example of that!
If you need assistance getting your home ready to be see in its' best light, give us a call for a no obligation appointment today!
180 Melrose Drive, 3BR Waukee 2 Story with LOTS of space!! by: Brian Wentz, REALTOR
We just listed this great Waukee two story, located in the Winfield development in Waukee, Iowa. This 3 bedroom two story has more space than you typically find at the $188,500 price point, and includes a GREAT finished basement with two storage rooms and enough space for a pool table.
Specializing in homes for sale in Waukee, Urbandale, West Des Moines, Clive, Johnston and Des Moines, Iowa!
I just listed this wonderful Waukee home, on a 1.5 acre lot in town! by: Brian Wentz, Realtor
Please enjoy a tour of this home: (If the video tour is not visible, click here.)
And now for some additional information...
Brian Wentz | Burnett Realty | 515-779-7677
670 Boone Drive, Waukee, IA
In town acreage in Waukee: 1.5 Acres!
4 Bdrm Single Family House
offered at $229,900
Year Built
1964
Sq Footage
1,760
Bedrooms
4
Bathrooms
2 full, 0 partial
Floors
2
Parking
Unspecified
Lot Size
1.5 acres
HOA/Maint
$0 per month
DESCRIPTION
Own your own in town acreage! This 1760 square foot ranch sits on a 1 acre lot and includes the neighboring 1/2 acre lot! Well maintained ranch with large family room addition, Large eat in kitchen with new countertops, newly refinished hardwood floors in bedrooms, entry and hall, Charming heated sun porch, deck, 2 fireplaces and attached heated 2+ car garage! Property is on city water & sewer plus deep well with new pressure tank for inexpensive summertime lawn watering. (Lot also has access to city water and sewer) Fin lower level has office or family room + 3/4 bath & nice laundry room! 26 x 40 Metal outbuilding is perfect for boat, toy or RV storage plus lot has 2 sheds! All appliances included + HSA Home warranty!
see additional photos below
PROPERTY FEATURES
Central heat
Fireplace
Hardwood floor
Family room
Living room
Office/Den
Breakfast nook
Refrigerator
Stove/Oven
Microwave
Basement
Laundry area - inside
Yard
OTHER SPECIAL FEATURES
Own for only $1,415/month P&I w/ $2,500 down! (6.5%APR,30 Yr.)
2 lots included: 1st is 1 acre, 2nd is .5 acre!
Home is on city sewer & water, adjoining lot has access to both!
Oversized family room addition with fireplace and sun room!
Main floor office with second fireplace!
24 x 60 Barn, perfect for boat, RV or toy storage!
Brian Wentz & Beth Ernst Burnett Realty www.BrianWentzRealtor.com Homes for sale in the Des Moines Iowa area, including Ankeny, Altoona, Clive, Urbandale, West Des Moines, Waukee, and Johnston.
Mortgage rates go down then jump by more than 1/2%, all in one day! by: Brian Wentz, Relator
What a day it was! The Des Moines Real Estate market was not immune to the roller-coaster of a day brought on by the moment by moment changes in the mortgage markets.
I arrived at the office at 9:00 AM to the good news that rates had dropped from 5.25% down to 5.0%. "That's incredible", I thought.
Than, by noon- I got the update from one of my trusted lenders that rates fell even further to 4.875 % for a 30 year fixed rate. "Amazing- a 10 year low", I thought!
Then, about 2:00 things came to a sudden, screeching halt. E-mail after e-mail cried that rates were headed up. And in the aftermath, rates finished the day out at around 5.5% for a 30 year loan.
In my entire career, I have never seen single say swings like this. It was something, and I am sure many of our lenders were ready to go home and forget the day. I know their phones were ringing off the hook, and I am sure there were some frustrated customers along the way. When rates change this fast, it is impossible to keep up!
But how does the saying go; "Sometimes, that's how the cookie crumbles". I suppose tomorrow is a new day, and hey, 5.5% is an amazing rate no matter how you look at it!
A look at inventory levels of Homes For Sale in the Des Moines metro area. by: Brian Wentz, Realtor, ABR, CBR
I am a visual person, and I love graphs. So recently when a client asked me how many homes were for sale across different price points in our MLS, I thought it might be interesting look answer the question with a chart.
Below I have assembled the two graphs to show, visually, a snapshot of the Real Estate Market in the Des Moines metro area, as of January 18th 2008.
These numbers represent the homes for sale, and pending by each $50,000 price point. One observation I found interesting, take a look at the number of homes for sale above the $1 million mark!
And Now for the higher end homes...
If you are planning to buy of sell a home in Des Moines, this chart can help you understand your competition and activity levels in your price points.
Essential numbers you'll want to have in your cell phone! by: Brian Wentz, Realtor
OK, I am a bit of a Boy Scout- I admit. And what was the motto? "Always be Prepared", of Course!
So if you live in the western Des Moines suburbs of Clive, West Des Moines or Urbandale, there is a number you just might want to program into your cell phone, so you can be prepared too.
These western Des Moines cities are served by West Com Dispatch, a consolidated fire, ems and police communication center, and one call to the center can dispatch police or emergency responders is a wide area of the metro area.
The emergency number is 911, of course. But having the non-emergency number can come in very handy for times that you just need to report a potentially dangerous situation, but don't want to clog up the 911 lines.
Last summer, while out showing a home, I witnessed a large dog running loose and chasing after a runner. Yikes! And I have had more than one occasion where items have fallen off vehicles along the interstate and I-235, presenting a hazard for other unsuspecting drivers.
Having these numbers handy made calling the situation in easy, and keeps others from getting hurt! So take a moment and plug the number into your cell phone. You'll appreciate having them if you need it!
Here are the numbers I have in my phone:
WestCom Dispatch: 515-222-3321
Des Moines Non-Emergency Police: 515-283-4811
Iowa State Patrol, Non Emergency Dispatch: 1-800-525-5555
Brian Wentz & Beth Ernst Burnett Realty www.BrianWentzRealtor.com Homes for sale in the Des Moines Iowa area, including Ankeny, Altoona, Clive, Urbandale, West Des Moines, Waukee, and Johnston.
An enchanting store worthy of an afternoon visit! by: Brian Wentz
Thisone of a kind store is like a window into the past! Located at 9th and Cherry in Downtown Des Moines, Iowa, West End Architectural Salvage is sort of a high end junk yard for recycled home products and custom made art work- all delivered with a touch of something special!
Manyof the stores offerings have been rescued from turn of the century homes that were to be demolished, or that have been removed during construction updates. It really doesn't matter what you are looking for; if it is old, they likely have it. But unlike so many "antique vendors" who stock a lot of junk, you'll only find truly special, one-of-a-kind and hard to find items here!
Entering at street level, the large granite coffee bar and open front lobby warmly greets you. The large sitting area, complete with custom made tables constructed on site, is a great place to kick back and enjoy a cup of the stores Joe before wandering around. And speaking of wandering around, that's precisely where you will often find the store's owner, Don Short, who will likely introduce himself, and strike up a conversation if you happen to run into him.
To add to the experience, Architectural Salvage's building, by itself, is truly something to be seen. The 5 story structure is a converted warehouse, stripped to the bones; with exposed wood timber construction, brick walls and original hardwood floors.
The main level of the store includes custom jewelry and original artwork fabricated using scrap materials from the upper levels, such as tin covered tables and mirrors fabricated from old lumber. On the upper levels you'll find a collection of antique white oak furniture (some has even been restored), recycled building products such as 6 panel doors and hinges, along with anything and everything you'd expect to find in a turn of the century home. On one particular visit, the store even had a full size front entry staircase, like something you'd expect to see in "Gone With The Wind"!
And if you are looking for a unique location to host an event, the store itself can be rented for an evening!. An event on site is a truly remarkable experience, as I found out first hand when we recently hosted a party at the store 65 or so people. The accommodations were top notch, to say the least!
If you are in Downtown Des Moines anytime soon- be sure to stop by the store, which is just under the 9th Street viaduct. I promise, you will not be disappointed at all!
Take a tour of the building below and see some of the items I discovered on a recent visit. (Click Here if the slide show is not visible!)
Brian Wentz & Beth Ernst Burnett Realty www.BrianWentzRealtor.com Homes for sale in the Des Moines Iowa area, including Ankeny, Altoona, Clive, Urbandale, West Des Moines, Waukee, and Johnston.
New changes in the way credit bureau's look at your credit score. by: Brian Wentz, Realtor
Fair Isaac, home of the well known "FICO" scoring method, has announced some changes that will impact consumers credit scores in 2008. Dubbed "FICO '08", the new guidelines put heavier emphasis on several key areas which received less focus in the past, such as having higher balances on credit accounts and keeping a mix of both revolving and installment accounts.
The new scoring system may also be more forgiving to consumers who apply for new lines of credit. This change better reflects the fact that today's consumers seek and use credit more than in previous generations.
FICO 08 also addresses a process which has been come to be known as "piggy backing". In recent years lenders and consumers have used a loophole that could quickly boost a consumers credit score by adding their name to another consumers credit history. Some credit repair companies have even gone so far as to "rent" one consumers good credit to boost another consumers credit scores.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
This week brought 
Central heat
So if you live in the western Des Moines suburbs of Clive, West Des Moines or Urbandale, there is a number you just might want to program into your cell phone, so you can be prepared too.
This one of a kind store is like a window into the past! Located at 9th and Cherry in Downtown Des Moines, Iowa, West End Architectural Salvage is sort of a high end junk yard for recycled home products and custom made art work- all delivered with a touch of something special! 
The main level of the store includes custom jewelry and original artwork fabricated using scrap materials from the upper levels, such as tin covered tables and mirrors fabricated from old lumber. On the upper levels you'll find a collection of antique white oak furniture (some has even been restored), recycled building products such as 6 panel doors and hinges, along with anything and everything you'd expect to find in a turn of the century home. On one particular visit, the store even had a full size front entry staircase, like something you'd expect to see in "Gone With The Wind"!
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