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Matt Grohe CRS, GRI, ABR

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Des Moines Septemebr 2009 home sales show tax credit bump

10-27-09
Matt Grohe CRS, GRI, ABR

Des Moines September's home sales rose to from the year earlier due in large part to the home buyer tax credit set to expire on November 30th 2009.

I noticed a lot of activity related to first time buyers both on the buying and listing sides. My feeling is that hesitant buyers who had been waiting all year finally got spooked that the tax credit would not be extended or changed substantially and so went on a buying spree.

Our association president was quoted in an October 13th Des Moines Register article as saying" "I believe there are a lot of first-time home buyers out there trying to get their deal done before the deadline for the $8,000 tax credit," said Kurt Schade, president of the Des Moines Area Association of Realtors.

Some highlights from September:

  • 475 sales, or 52% of the total unit sales were for homes priced $100,000 to $200,000
  • Less than 40 homes were sold last for more than $300,000.
  • Unit sales increased to 913, from 772 the year prior.
  • Average sales prices fell to $151,589 from $167,366 the year prior.
  • Days on market increased to 100 from 96 the year prior.

9/2009
Total Sold		 9/2008
Total Sold		 Total Sold
% Change		 2009
YTD Sold		 2008
YTD Sold		 YTD Sold
% Change
ALTOONA 20 26 -23.1% 166 182 -8.8%
ANKENY 120 80 +50.0% 779 779 0%
CLIVE 20 21 -4.8% 163 177 -7.9%
DES MOINES 302 264 +14.4% 1,930 2,035 -5.2%
INDIANOLA 20 14 +42.9% 139 156 -10.9%
JOHNSTON 35 26 +34.6% 251 234 +7.3%
PLEASANT HILL 13 12 +8.3% 68 127 -46.5%
URBANDALE 52 53 -1.9% 431 487 -11.5%
WAUKEE 41 26 +57.7% 242 244 -0.8%
WEST DES MOINES 102 82 +24.4% 658 660 -0.3%
TOTAL - DMAAR MLS (all cities) 913 772 +18.3% 6,172 6,485 -4.8%

9/2009
Avg Sale Price		 9/2008
Avg Sale Price		 Avg Sale Price
% Change		 9/2009
Median Sale Price		 9/2008
Median Sale Price		 Median Sale Price
% Change
ALTOONA 163,799 174,532 -6.1% 156,000 174,500 -10.6%
ANKENY 183,241 211,773 -13.5% 173,750 175,625 -1.1%
CLIVE 185,765 280,517 -33.8% 166,750 251,500 -33.7%
DES MOINES 112,174 125,199 -10.4% 110,950 111,250 -0.3%
INDIANOLA 172,589 155,049 +11.3% 158,450 156,995 +0.9%
JOHNSTON 201,128 233,515 -13.9% 186,150 190,000 -2.0%
PLEASANT HILL 183,566 180,960 +1.4% 180,900 152,200 +18.9%
URBANDALE 192,701 203,901 -5.5% 185,282 192,000 -3.5%
WAUKEE 194,728 199,216 -2.3% 179,900 183,250 -1.8%
WEST DES MOINES 192,482 200,596 -4.0% 182,975 172,250 +6.2%
TOTAL - DMAAR MLS (all cities) 151,589 167,366 -9.4% 147,000 147,250 -0.2%

9/2009
Days on Market		 9/2008
Days on Market
ALTOONA 99.6 107.2 -7.1%
ANKENY 97.0 103.8 -6.6%
CLIVE 125.6 122.2 +2.8%
DES MOINES 84.7 81.5 +3.9%
INDIANOLA 148.1 164.1 -9.8%
JOHNSTON 88.2 137.8 -36.0%
PLEASANT HILL 80.3 59.8 +34.3%
URBANDALE 104.9 107.8 -2.7%
WAUKEE 122.4 125.9 -2.8%
WEST DES MOINES 108.5 80.0 +35.6%
TOTAL - DMAAR MLS (all cities) 100.0 96.0 +4.2%

Data courtesy of the Des Moines Area Association of Realtors

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2009 NAMI Walk this Saturday, October 3rd at Des Moines' Water Works Park

10-01-09
Matt Grohe CRS, GRI, ABR

This year, 2009, will mark the third year I've had the honor to volunteer to assist in the NAMI Walk sponsored by the National Alliance for the Mentally Ill Iowa Chapter. If you're unfamiliar with NAMI Iowa here's their mission from their website:

"NAMI IOWA is a non-profit, state-wide grass roots organization. Our mission is to raise public awareness and concern about mental illness, to foster research, to improve treatment and to upgrade the system of care for the people of Iowa. We work to support our mission through education, advocacy and support."

Many people are affected by and struggle with mental illness on a daily basis. Just in the Des Moines area this year there have been at least four incidents where police have been called to apprehend a mentally ill person and the individual has been shot and killed or accidentally maimed or injured. But aside from the high profile cases, many with mental illness are unable to stay employed, care for themselves, or become productive members of society. It is estimated that one if four families contains a memebr who suffers from a serious mental illness.

You can find this years walk in Des Moines' Water Works park by taking Park Ave south to Valley Dr. and by entering the south exit appx. 1 mile off Park, across from the Racoon Valley soccer fields. You will then go left appx. 1 mile more. The way should be clearly marked.

This year's 2009 NAMI Walk IOWA is sponsored by The Des Moines Radio Group and Polk County. All donations benefit NAMI and NAMI Iowa. The walk begins Saturday, October 3rd, 2009 - 8:00 AM Registration Starts, 9:00 AM Opening Ceremony, 9:30 AM Walk Begins, Vendor booths open and activities continue until 11:00 AM.

You can register yourself or a team by clicking on this link,2009 NAMI Walk IOWA , or by just showing up! Last year the walk was able to raise $109,000 from just the Des Moines walk alone. If you have the time and are able we'd love to see you there on Saturday!

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Iowa Association of Realtors Unveils New Housing Stats System

09-26-09
Matt Grohe CRS, GRI, ABR

Maybe we're behind the curve, or perhaps we're out in front, my suspicion is though that all agents in Iowa will enjoy the new housing stats system unveiled by the IAR in September 2009.

We've always been able to produce reports, but data such as unit sales per month, comparisons to previous years and housing price trends have not been readily available. That's all changed now with the new report system as evidenced by this August 2009 Housing Stats Report. I, like many agents I suspect, was relegated to wait until reading the numbers in the Des Moines Register the day after the figures came from the board. This new system however means I can log-in and easily get the numbers in an easy to read format that I quickly can share with clients and prospects.

Trends are valuable in that listing agents and clients don't have to just guess about what's happening in the area or market, they can have ready access to the data to readily gauge:

  1. How aggressive to be on pricing
  2. Ascertain number of competing listing
  3. Determine whether prices are rising or falling
  4. Determine whether days on market are rising or falling

Buyers can also benefit by using the stats to determine:

  1. Price trends up or down
  2. Declining or accelerating inventory of homes
  3. Wheter or not homes on market are within normal ranges
  4. Motivations of sellers

If you're looking to buy or sell and would like to analyze the trends to determine your best strategy, give me a call and we'll set up an appointment.

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Memory Walk 2009 this Saturday at Des Moines Water Works Park

09-21-09
Matt Grohe CRS, GRI, ABR

This year, 2009, will mark the third year I've had the honor to volunteer to assist in the Memory Walk sponsored by the Alzheimer's Association-Greater Iowa chapter. Alzheimer's affect so many people which makes this a very important event. Just today I had a client in my office whom I invited to participate in the walk. He had to decline because the very same day, he would be attending his grandmothers funeral who was coincidentally, an Alzheimer's sufferer for many years.

The walk will commence at Des Moines Water Works Park. Walkers may enter the park by taking Park Ave south to Valley Dr. and by entering the south exit appx. 1 mile off Park, across from the Racoon Valley soccer fields. You will then go left appx. 1 mile more. The way should be clearly marked.

This year's 2009 Memory Walk is sponsored by Care Initiatives. All Memory Walk donations benefit the Alzheimer's Association, the leading voluntary health organization in Alzheimer care, support and research. The walk begins Saturday, September 26, 2009 - 8:00 AM Registration Starts, 9:00 AM Opening Ceremony, 9:30 AM Walk Begins, Vendor booths open and activities continue until 11:00 AM.

You can register yourself or a team by clicking on this link, 2009 Memory Walk, or by just showing up! Last year Alzeimer's.org was able to raise $584,000 nationally through its Memory Walk initiatives. If you have the time and are able we'd love to see you there on Saturday!

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Rate drop in September 2009 spells good news for consumers

09-13-09
Matt Grohe CRS, GRI, ABR

Plastered all over the media this past week was news that mortage rates fell for the week ending September 7-11 2009 as a result of Fed auction results. The rates are now near historic lows. Here are a few links to stories about the drop which was announced primarily on September 10th 2009:

http://www.mortgagenewsdaily.com/consumer_rates/106240.aspx

http://www.freddiemac.com/pmms/release.html

http://www.housingwire.com/2009/09/10/weekly-mortgage-rate-dips-to-507-freddie-mac/

http://www.foxbusiness.com/story/markets/industries/finance/freddie-mac-fixed-mortgage-rates-inch-lower/

From the Fox news article above: "The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 5.07% in the week ending Thursday, down from last week's 5.08% and the year-ago 5.93%"

Some pundits are even predicting mortage rates will fall further:

http://themortgagereports.com/2009/09/mortgage-rates-cincinnati-september-10-2009.html

Comparing 5.07%, the new rate, with last years 5.93%, shows that on a $100,000 30 year fixed loan a buyer today would pay $541.11 dollars, compared to $595.06 for the same amount last year, or about 9% less. Wow! What a difference a year can make. With good rates and the $8,000 tax credit in place until November 30th 2009, buying vs. renting just make start making a whole lot more sense to some people.

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