Real Estate Investing

Lance Hanson and Nigel Chapman brokers with RE/MAX Real Estate Concepts discuss real estate investments and Steve SchraderBachar with Wells Fargo provided guidance on financing real estate investment properties.

Relocation Real Estate Specialist Shares Top 10 Questions

Relocation Real Estate Specialist Shares Top 10 Questions, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

It is particularly hard for out of town buyers moving to the Des Moines area to find a suitable house in a new unfamiliar neighborhood.  This task can be difficult because real estate agents and brokers are bound by law not to “steer” clients in any way.  “Steering” is the term used for using subtle ways to influence a buyer’s decision based upon certain characteristics of a neighborhood.

The purpose of prohibiting “steering” is to eliminate prejudice based upon race, religion, color, age, country of origin, sex, or disability.

So then, you might ask, with so many houses for sale, how can I narrow down the choices?  The answer is simple; a professional real estate agent.  A professional real estate agent is able to deliver factual information to help you with your decision making process as long as it is done without using steering tactics.

Brokers can offer factual data and a professional real estate agent will have these facts on hand.  Many companies such as RE/MAX Real Estate Concepts have agents who specialize in out of town buyers.  A good agent keeps up to date with statistics and data pertaining to the neighborhoods they represent.  Having this information at the ready saves time when a buyer asks for information.  Often out of town buyers have a very limited amount of time to locate a house before the big transfer.  Many real estate agents who specialize in serving out of town clients will offer special services.  Some of these services include meeting the buyer at the airport and taking them for a neighborhood tour, arranging several appointments to view houses for sale, and even help with hotel reservations if needed.

During the neighborhood tour a buyer should ask the agent as many factual questions as possible.  Some questions to ask include:

1.  How many schools are in the school system?

2.  What is the student/teacher ratio?

3.  What is the per pupil expenditure for the school systems of each district where you are considering purchasing a house?  Even if this information is unfamiliar to you, simply compare the numbers between the different districts to come to your own conclusion

4.  What is the percent of students that graduate high school in the district (what is the drop out rate)?

5.  What is the percent of high school graduates in the district going on to a four year college?

6.  What social organizations are available to join?

7.  What forms of organized recreation are available?

8.  What churches are in the neighborhood?

9.  What are the names of the local newspapers

10. Are there any special points of interest in the area?  (Note – ask for any information provided by the local Chamber of Commerce)

Finally, a great tip  is to subscribe to the local newspaper prior to the transfer.  Alternately, go on the website of the local newspaper on a regular basis.  This will familiarize you with the local flavor.  Ask your real estate agent for a listing of local newspapers.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate.

For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net. 

Pros and Cons of Adjustable Rate Mortgages

Pros and Cons of Adjustable Rate Mortgages, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

A borrower in the Des Moines area can become intrigued with an ARM product because the initial rate of interest for the first fixed period is usually less than that of a traditional 30 year fixed rate mortgage.  In recent months this has become less true due to factors in the yield curve which has made long term rates as attractive to lenders as short term rates.  Also, the government owned lenders, Fannie Mae and Freddie Mac have been offering very attractive fixed rates on mortgages.  That being said, in most normal financial environments, the initial rate on an ARM will be lower than the fixed rate, thus offering a borrower the opportunity to save money during the initial term.

Borrowers in the Des Moines area may choose to take the savings and use it to reduce the balance of their mortgage, or to use the savings for home improvements, or any other household needs.  The most useful purpose of an ARM for a borrower is when a borrower is purchasing a home that they believe they will not be staying in for a long period of time.  ARMs are well suited for a person who knows that their job takes them to different locations every few years, and therefore will not be in the home for the length of 20 or 30 years.  Another example is of a person buying a starter home with the expectation of significant salary increases coming in the next few years that will allow them to buy a “move up” house.  Another reason to use this type of loan would be if the borrower believes that long term interest rates are expected to go down over the next couple of years.

The pro’s of an ARM are as stated above: expectation of need to move; expectation of increased income, and expectation of lower rates in the future.

The con’s of an arm are: Expected increased income never materializes, rates do no go lower in the future, credit problems arise and refinance becomes impossible, market values go down 30 to 40 percent and refinance becomes impossible.  The cons of this type of loan are happening now in the market.

Many people with ARMs are facing one or more of the con’s I have just described, and they are faced with annual increases in their mortgage rate that they cannot do anything to cure.  It is becoming clear that ARMs should only be used by people who have a very specific need and reasonable certainty that the future financial picture will not change.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

New England Style Homes

New England Style Homes in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

There are many different styles of architecture in the Des Moines area.  Three styles in particular reflect the New England style of architecture.  They are:

-     Salt box
-     Cape Cod
-     Colonial

The Salt Box style of architecture is named for its resemblance to an early salt box.  The homes have a gable roof that slopes sharply.  A salt box style home is usually two or more stories high in the front of the building.  The rear of the building is usually one story high.  This makes a more interesting (and steep) roofline.  Many homeowners of original salt box homes back in colonial times used the back portion of the home as a shed.  This side of the house often faced north.  The harsh wind and weather hit this side of the home first, which insolated the family from the elements.  Today we can still find smart home design using this same principal in the Des Moines area.

The Cape Cod style of architecture goes back to the early days of our country.  Those original Cape Cod homes were simple compared to the beautiful examples found across the country today.  Originally the Cape Cod style had plain front exteriors, and was only one story high.  Contemporary Cape Cod homes are often one and a half stories high and have second story dormers.  The roofs are gabled.  The roofs have a steep pitch, which is a practical element in climates with harsh winters.  The windows of the home usually have shutters to accompany them.

The Colonial style is at home in New England, although this type of architecture is found throughout the United States.  Traditionally colonial architecture is rectangular and has at least two stories.  The second story is where the bedrooms can be found.  This is part of the popularity of this style with home buyers.  Families with young children often prefer to have all members of the family sleeping on the same level of the home.  Another identifiable feature of a colonial style is the windows.  Colonial style homes have windows with many small square panes in each.  The window type is usually double hung.

If you would like more information about New England Style homes, or other architectural styles in the [Profile.market] area, I would be glad help.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

 

 

Using the Internet to your Advantage when Searching for a Home

Using the Internet to your Advantage when Searching for a Home in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

As the Internet has evolved so has real estate advertising and communication. It was not too long ago when you had to go to your Des Moines real estate agent’s office to see pictures of homes you would like to view. Nowadays, with the help of the Internet, you can look at Des Moines homes on your computer and get a good idea of which ones you would like to look at.

Role of the Des Moines real estate agent

If you think that you can find a home on the Internet and purchase it without the help of your real estate agent then think again. A lot of people have tried this method and have run into serious problems. The Internet is a useful tool for real estate, but it in no means takes the place of the real estate agent in purchasing a Des Moines home.

When you see a house in Des Moines you would like to view, your real estate agent can advise you on whether it really is something you should take the time to see. A house that is really an eyesore can be made to look beautiful in a picture. Your Des Moines real estate expert will be able to tell you if there are any problems with a home, that are not evident in the pictures. He will also know how long it has been on the market, whether or not the sellers are anxious to sell, and any other vital information you may need to know about the Des Moines home in question.

Role of the Internet

The Internet should be used as a guide to help cut down the amount of time spent looking for Des Moines houses to view. If used for anything more than this it can become a damaging tool. Trying to purchase a Des Moines home without a real estate agent can lead you into big trouble. They have the experience to work with you to get the best deal and to have any documents processed legally, with your best interests in mind.

When purchasing your home use the Internet and your Des Moines real estate agent as they are meant to be used. They are both invaluable tools that will get you the most house, for the least money, in the fastest time possible.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate.

For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Homebuyer Appointment Wish List

Homebuyer Appointment Wish List, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

Touring homes for sale in Des Moines can be a confusing process.  There are many great homes for sale.  Often real estate agents schedule viewing appointments one after another for their clients.  This series of appointments are groups of homes that fit the buyer’s criteria.

Visiting one home after another is an efficient use of time as well as beneficial to the decision making process.  It is easier for buyers to compare properties against each other when they are viewed on the same day.  However, viewing several homes on the same day can become a confusing and even overwhelming process.  We suggest creating a list such as the one in the example below to help you keep organized while touring potential homes for sale in the Des Moines area.  If you bring along a digital camera, take a snapshot of the listing sheet given to you by your real estate agent prior to each home tour.  If your camera has voice recording or video capabilities consider recording a few notes for yourself after each home tour.  This tip will help you remember the differences between each house choice.

List 1 – Your Wish List

Make a realistic list of what your ideal home will be.  The key word for this list is, “realistic.”  If a seaside mansion is not within your budget, don’t include this on the list.  Examples of a realistic wish list for the average homebuyer include:

- Single family home
- Attached garage
- Three bedrooms
- 2 bathrooms
- Two-story home
- Walking distance to schools
- Near post office, stores
- Hardwood floors
- Dish washer
- First floor laundry room
- Master bedroom near other bedrooms
- Master bedroom away from other bedrooms
- Color palette

Note:  Although many items on your wish list may be fairly easy and/or inexpensive to change (such as wall color or carpeting,) if a home already fits your criteria, that is one less item you would need to change.  In the end, if you are torn between two properties, the little details may be what make your decision.   The home that comes closest to the buyer’s wish list is the one that they eventually will call home.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate.

For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Home Staging

Home Staging, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

Real estate professionals in Des Moines agree a well staged house sells faster than the competition.  If hiring a professional stager is not in the budget, the seller can use basic home staging principles to do it themselves.  It can seem overwhelming at first, but with the help of a real estate professional, your house can be a stand-out.

The first step for any potential seller is to hire a professional real estate agent or broker.  They can go through your house and make suggestions that will show off the features of the home.  Often homeowners become overwhelmed with the task of staging.  Some tips that will help manage your project and get the job done are below.

Purge it, Hide it, flaunt it
If you don’t know where to begin, we suggest clearing out the space and starting over.  You may want to start with a closet.  Empty the space and put back only what you will be using.  If you haven’t used the item in three months, store it elsewhere.  If you have not used the item in a year, sell or donate it.  If it is an item that must stay, display it well.

Clear High Traffic Paths
Walk through your house as if you were the potential buyer.  If there are any items in the way of the traffic flow, remove them.  It is especially important for the entryway to be clear of clutter.  Another key area is around the dining room.  Make sure potential buyers can walk all the way around the dining room table.  Clearing off counter tops and floors is another key area to tackle.  Maximizing floor space will make the room feel larger.  Counter space is valuable to buyers – show it off!

Break down each task into smaller jobs.  Take it one room at a time.  The most important tip to sellers is to get in the mindset of the buyer.  Don’t think of your house as your home.  Think of it as if someone else were living there and purge personal items.  Would the buyer want a picture of your grandmother hanging in the living room?  Clear away personal items and present your house as if it belonged to someone else.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate.

For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

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Five Tips for a Quick Home Sale

Five Tips for a Quick Home Sale in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

Regardless of the current market situation, people continue to buy and sell homes in the Des Moines area.  Even in a difficult market, there are things you can do to increase your chance for a quick home sale, according to the real estate experts at RE/MAX Real Estate Concepts. In addition to selling your house quicker, many of these tips have been proven to increase the sale price.  Ultimately the increase in profit is more than the time and money spent on the projects.

1. Fix Deferred Maintenance
Deferred maintenance is a red flag for homebuyers.  A broken door knob to an infrequently used closet may not bother you, the seller, but a buyer thinks differently.  The buyer sees this deferred maintenance and wonders what else has not been maintained.  Perhaps larger, more important items are in need of repair.  A quick trip to the hardware store for a new door knob can erase this concern in a buyer’s mind and protect your asking price.  A professional real estate agent can go through your home and help you make a list of items to repair before putting your home on the market.  Some common fixes are replacing burnt out light bulbs and repair or replace dripping faucets.

2. Paint
Dingy walls and little dings and scratches can have a big impact on the bottom line.  A small amount of spackle and some paint will freshen up the interior of the home and invite buyers to make an offer.  The amount of time spent in painting will be worth the value added.

3. Eliminate Shabby Items
Replacing or eliminating shabby furniture and accessories is another way to improve the appearance of your home for buyers.  Wash or freshen-up curtains, carpets, and pillows.

4. Clean the House
Clean the entire house.  Preparing your home for a quick sale requires a little elbow grease.  A neat and clean house shows much better than a dirty home, according to [Profile.full_name].  One of the quickest ways to lose a potential buyer is with a messy home.  This is the time to really clean your home thoroughly.  Buyers scrutinize every nook and cranny.  Make sure the interior of the range is clean.  Clean behind the toilets.  Get the cob-webs off of the ceilings and doorways.

5. Edit Possessions
Finally, remember the saying, “less is more.”  Take down personal art and photographs.  De-clutter rooms and closets.  If necessary rent an off-property unit to store your items while the house is on the market.  Think of it not as a chore, but rather as getting a jump start on packing for your new home.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete online website dedicated to everything Des Moines has to offer and your complete resource for Iowa Homes. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

Real Estate with RE/MAX Show – Attorney David Pulliam

RE/MAX Brokers Lance Hanson, Matt Mauro and Ryan Rivera are joined by David Pulliam as they discuss the legal aspects of real estate and estates.

David was born and raised in Des Moines, Iowa and graduated from Lincoln High School in 1988. He earned his B.A. degree, with distinction, in English with a minor in Political Science in 1992 from Iowa State University, and he was also a Phi Beta Kappa initiate. He graduated with distinction, obtaining his J.D. degree from the University of Iowa College of Law in May of 1995.

After joining the Bar in June of 1995, he joined the Iowa City law firm of Hayek, Hayek & Brown, L.L.C. as an associate. David returned to Des Moines and joined the law firm of Wasker, Dorr, Wimmer & Marcouiller, P.C. as an associate in March of 1997. He was made a shareholder of the firm in 2001. He is a member of the Iowa State and Polk County Bar Associations.

David and his wife, Brooke, have three children, Taylor, Laney and Nicholas.

Five Kitchen Design Styles

Five Kitchen Design Styles in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

There are five basic kitchen design styles in the Des Moines area.  The best kitchen design style depends upon what your own needs are.  Fulfilling those needs is what determines which style is best suited for you.  Many homes with great kitchen designs in the Des Moines area are on the market today.  The five basic styles are called:

One-Wall Kitchen
Galley Kitchen
L-Shaped Kitchen
U-Shaped Kitchen
G-Shaped Kitchen

One-Wall Kitchen
You will find one-wall kitchens in small living spaces such as one-room apartments.  They can also be found in homes that do not put an emphasis on the kitchen, but rather emphasize the importance of open living space.  A one wall kitchen can be cut off from the rest of the living space with the use of creative design elements such as sliding doors or decorative screens.

Galley Kitchen
Galley kitchens are sometimes called Corridor kitchens.  Galley kitchens can be very efficient when designed correctly.  They also function best when only one family member at a time is cooking.  When more than one person is cooking at the same time space becomes an issue.  A galley kitchen functions best when the isle is 48-inches wide. However, if space is limited a 36-inch isle can work as long as the cabinet doors and appliance doors (such as the dishwasher door) don’t hit each other when opened.  Real estate agents are experts in pointing out issues such as this to their clients.

L-Shaped Kitchen
As the name implies, an L-shaped kitchen has two walls that are perpendicular to each other.  One of the walls is usually longer than the other.  This style works well if an eat-in-kitchen is desired because there is space opposite the “L” shape to accommodate a kitchen table or even a trendy built-in booth.

U-Shaped Kitchen
One main benefit of a U-shaped kitchen is that it avoids “through traffic.”  The U-shape takes up three walls of the kitchen.  Sometimes one of the walls connects to a family room or other casual area.  This is an efficient design; however, there are some drawbacks.  For example, corner storage can be difficult to access.  However, with well planned out cabinetry this issue is easily resolved.

G-Shaped Kitchen
The G-shaped kitchen is ideal for families that have two members who enjoy cooking at the same time.  The shape of this type of kitchen is similar to a U-shaped kitchen with the addition of a peninsula.

The best kitchen design style is one that fits your lifestyle.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.

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