How Fast Are Homes Selling in Cedar Rapids?

By
Real Estate Agent with Cedar Rapids/Iowa City, IA KW Legacy Group S44645

Let's put it this way....it doesn't matter whether the home is listed at $90,000 or $400,000, if your home is clean, updated and priced right, it is gone within a week or less.  Sometimes selling in the first hours on the market to the first buyer that scheduled a showing with their agent.

 

I listed a home a couple of months ago in the $235,000 range.  It received 7 showings in the first 24 hours and over 30 people came through the open house.  We received 6 offers, all over the asking price.  So how did the seller choose?  Ultimately, it was not about the price.  It was about the down payment.  The buyer they chose had 20% and everyone else was at 5% or less.  There were even two agents that wrote in escalation clauses to try to help their buyers get the house.  Another home that I listed in the last week, came on the market at 9:00 am.  There were two showings, one at 11:30 and one at 1:00.  Both agents sent me an offer for over the asking price.  The market moves fast!

Accepted offer sign at 651 36th Street SE

 

 

So in this crazy Spring market there are 4 things that you need to do in order to compete.

 

1. Get pre-approved.  Knowing what you can comfortably afford and what that payment looks like means that you can make an offer immediately and get ahead of other buyers that are not as prepared.

2. When a new listing hits the market in your price point, you need to drop everything and see it as soon as possible.  Even if that means sacrificing your lunch hour or a few hours of vacation time.

3.  Be willing to make an offer if you like what you see.  There are other buyers that have already seen the house or are coming to see it after you, so you may not have the time to think about it over night.  You snooze, you lose.

 

And #4, hire a full time professional that is representing you.A  As a buyer's agent, I am constantly searching for the best homes that meet your criteria and I will schedule a time to see them right away so that you don't miss out!

 

Call me today to start on the path to home ownership!  A free consultation will show you the steps it will take to purchase a home in today's competitive market.

 

Keep smiling!

 

Karen

Posted by

 

Karen Feltman, REALTOR®, ABR, AHS, CHMS,                                                                      CNE,CRS, e-Pro, green, GRI, SRES, TRC

Keller Williams Legacy Group

4850 Armar Drive SE Ste B

Cedar Rapids, Iowa 52403

Email: karenfeltman@gmail.com

Mobile  319-521-0701

www.KarenFeltman.com

Licensed in the State of Iowa

© 2010-2021 by Karen Feltman, Cedar Rapids/Iowa City Relocation Specialist 

Comments (4)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Karen - your post offers a real life look at what is happening in Cedar Rapids, IA real estate right now. 

Apr 13, 2019 01:59 PM
Karen Feltman

Thank you for reading!

Apr 14, 2019 02:10 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Offers with strong buyers, who have larger down payments, help secure the sale will successfully close.

Apr 13, 2019 04:43 PM
Karen Feltman

Sometimes the only differentiating term is the amount of earnest money or the amount of the down payment.  Thank you for commenting.

Apr 14, 2019 02:10 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Those are four good tips for buyers who are looking for a home in your area - I hope buyers read this!

Apr 14, 2019 03:27 AM
Karen Feltman

Thank you for reading!

Apr 14, 2019 02:10 PM