Getting a Cheap Mortgage

Getting a Cheap Mortgage in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

Many people automatically decide that they cannot afford a Des Moines mortgage before actually working the numbers to see what is actually possible. In some cases a mortgage can add up to less than a Des Moines rental payment. On top of that, a fixed-rate mortgage will stay the same for many years to come, whereas the rent is sure to rise.

The amount of down payment that you can put towards the mortgage will help to keep the mortgage payments down. If you can come up with a good down payment this will definitely help you in the long run.

Even if you cannot put together a large down payment, a Des Moines mortgage may be cheaper than you initially thought. If you have a good credit rating along with a solid financial past, you may qualify to get a very low interest rate.

First-time buyers in Des Moines may also be able to make use of President Obama’s new mortgage plan. With this plan you may get access to up to $8000 in a tax credit. This is a big benefit to those that have dreamed about owning their own Des Moines home but were financially unable.

There are many different lenders in Des Moines and you will get different rates from various lending institutions. Make sure that you shop around for the best rate, while at the same time finding out what the mortgage terms are. You may find that a good rate may not be as good as a higher rate because the terms are different.

If you’re working with a Des Moines real estate agent be sure to question him about all of your mortgage options. After dealing with many clients in Des Moines, his experience may help you look at different options. There are many different types of mortgages available, but there is one that is suited best for you.

As local real estate agents in Des Moines we can offer you more free information about the Des Moines real estate market, including the most recent homes for sale, current 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.

Checklist for Selling your Home

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

Selling a Des Moines home should be thought of as a process. There are a series of procedures that must be followed in order to get the most money you possibly can from the sale. Here is a simple checklist to follow that basically sums up the whole process in a nutshell.

Find an agent

This is in fact the most crucial point to follow when you are selling your Des Moines home. Don’t be one of the many that decide to sell their home on their own and later regret it. Find an agent in Des Moines that you feel comfortable with to help you make this important purchase. This may be the biggest purchase you ever make in your life and you should be leaving nothing to chance.

Assume the responsibility of a seller

This is something that many Des Moines sellers do not think about. Alternately it is your responsibility to sell your house. You are using your agent has a tool, but you will have the ultimate decisions to make, and must accept all of the responsibility for making them. This is not the time to blame anybody if everything does not go as planned, but rather the time to take responsibility for making everything go right.

Advertise

Working alongside your agent advertising is crucial in order to get your Des Moines house sold fast. Take the time to ask questions of your agent such as what kind of advertising he is proposing to do. Don’t be afraid to advertise yourself. That your friends and neighbors know that your Des Moines house is for sale, and list all the advantages your home and neighborhood has to offer.

Make the home presentable

You will need to take some time out of your busy schedule to not only make the Des Moines home presentable but keep it that way. You will need to instill a sense of urgency for keeping the place tidy with other family members, because you never know when the next viewing may take place.

Get familiar with mortgage and finance terms

When you take the time to learn refinancing mortgage terms you will be better set. You will understand more of the process and will not be left scratching your head about real estate procedure.

Prepare for the final sale

In preparation for the final sale make sure that all your finances are in order for the next steps. You will also have to determine how flexible your closing date will be, and if necessary stick to it. If the buyer really wants the Des Moines home he may bow to your terms, or you can set up some kind of negotiations to keep both buyer and seller happy.

Although this is a very simple checklist it takes into account most of the necessary points that need to be put into place when you are selling a home in Des Moines. Use it to your advantage and get your Des Moines home to sell quickly.

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.

Can’t Afford a House? Buy Land

Can’t Afford a House? Buy Land inDes Moines! By Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

When it comes to Des Moines real estate there is a very important point to follow. That is to start your investment immediately. It does not matter if you cannot afford to buy a Des Moines house right now; you just need to get started. The cheapest thing you can get is a piece of land, and even that gives you a good start.

There are some extremely great deals available now for plots of land in Des Moines. You can contact a Des Moines real estate agent and ask to be shown some land available in an area where you would like to build a home. Once you have the land your payments will help build up the equity in it. On top of that, as the economy recovers from tough times, your land will become more valuable.

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Buying Versus Renting

Buying Versus Renting in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

Most people understand the concept that buying a home is a solid investment, but many people still renting may not be clear of the other benefits associated with owning your very own piece of Des Moines property. Here are a few of the best benefits of becoming an owner in Des Moines and leaving the renter’s world behind.

Housing Costs

Rental costs in Des Moines are increasing and will continue to increase for as long as you rent. Taking into consideration how much rent you paid ten years ago, and what you are paying now, will be a good indication of what you can expect to pay ten years from now. A mortgage gives a much more stable option. Buying a home in Des Moines with a fixed rate mortgage ensures that your payments will remain the same for the entire length of the loan. Even a mortgage with an adjustable rate will keep your payments in a very stable position.

Income Tax Deductions

Anyone that purchases a home in Des Moines saves money at tax time. Not only is the interest deductible, but so are the property taxes. Rent doesn’t give you any tax breaks, and quite often costs more than a mortgage on a small Des Moines house.

Future Savings

When you own a Des Moines home you are technically saving money for the future. You are not only putting money into a future investment, but as you are paying it off, your Des Moines home is raising in value. You are saving money and making money at the same time. It is truly a win-win situation.

If you have never looked into all the savings you can have by investing in your own home in Des Moines then take a look at all of the savings and add them up. You may be pleasantly surprised to find that owning can be cheaper than what you are currently paying for rent in Des Moines.

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.

3 Tips to Help you Choose a Property Rental Service

3 Tips to Help you Choose a Property Rental Service in Des Moines, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts is your resource for Des Moines Homes

If you need to make use of a Des Moines property rental service to help manage rental units or vacation properties, then here are a few things you should look for before you begin your search. These are the three most important features you should be looking for in a property rental service in Des Moines.

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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.

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