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Nov 16, 2022
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The period of ultra-low mortgage rates and Federal Reserve policies of injecting liquidity into the financial markets during the pandemic to stimulate the economy has ended. Now monetary policies have been reversed to tamp down the inflation that resulted from the “easy money” conditions and this change in posture is having consequences. The 3% interest rate that people were able to lock in during that two-year stretch has moved to 7%. Individuals and families are now reluctant to give up the attractive rates they are locked into, and are staying in their homes. Builde... |
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Nov 12, 2022
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Friedrich Iowa Realty is proud to announce that we’ve been named the Best Real Estate Company in Story County for the fourth year in a row! We are grateful and thankful that you all have put your faith and trust in us to be your Realtors for your real estate needs.
Our mission is to enrich lives through real estate, and the fact that you all have voted us Best of Story County for the fourth year in a row lets us know that we are succeeding in our mission. That being said, we will not rest on our accomplishments. We will continue to serve you — the community — di... |
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Oct 19, 2022
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Real Estate activity adjusts seasonally. We’re approaching the time of year where the real estate market tends to ease and take a breather. Don’t confuse this breather with the market taking a sudden downswing. The Ames market has historically been very resilient compared to national trends.
Over the last month we saw 35 new listings coming to market and 44 listings sold — at a seasonally adjusted rate. Compared to last year, the number of sold homes in the month of September actually increased. In September of 2021, 40 houses were sold, compared to the 44... |
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Sep 21, 2022
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Signs continue to point toward a normalizing — and healthy — real estate market in the Ames area.
The median days on market is slowly trending upward, which is allowing buyers a better opportunity to view houses and make the best decision for them and their family. The reduced competition has also allowed for more buyer protections in purchase agreements. Things like inspections and home warranties are back on the table. However, the days on market isn’t increasing so quickly that sellers should be concerned. Their houses are still moving at a good pace. Keep in... |
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Aug 20, 2022
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The Ames real estate market has kept rolling along while the market continues to shift. The “free” money environment of the last two years fueled activity and price increases at unsustainable rates. What we’re experiencing now is a healthy correction to more normal and balanced conditions. Homes in Ames are still moving quickly, they’re still appreciating in value and the number of active listings is on an upward trend.
Interest rates appear to be leveling off between the 5% and 5.5% range, which has caused a market normalization. That interest rate range ... |
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Jul 12, 2022
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As the real estate market transitions, it’s important to remember that real estate markets are localized. Recently, national news headlines have revolved around housing prices declining and an impending “crash.” Thankfully, the Ames housing market is unlikely to experience any sort of crash. In general, more normal conditions are emerging for both buyers and sellers.
During the mortgage crisis from 2008-10, Ames’ home values remained steady or even slightly appreciated. They did not decrease. The number of homes sold during that time did diminish, but the ... |
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Jun 10, 2022
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The market is trending toward more normalization, but robust activity is continuing.
The Ames real estate market introduced 96 new listings in May. That was the most new listings since May of 2020. Because so many homes were introduced, it increased the active listings from 58 to 75. That was the largest increase of active listings since June of 2019 when it increased by 24. Those are encouraging signs for a more normalized market since we’ve been facing a shortage since the pandemic started.
This normalization has been aided by the interest rate increases we&r... |
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May 12, 2022
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Changing winds often bring stormy weather. The Ames real estate market, and the national market as a whole, are becoming more unpredictable. This shift could bring some uncertainty for a period of time as the market transitions.
Your Friedrich Iowa Realty agent is your anchor to keep you grounded as you navigate the changing real estate landscape.
Rising interest rates, which were at 5.11% at the end of April, have been the main contributor to the changing market. Some buyers are moving as fast as possible to lock down the lowest interest rates they can. This is why ... |
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Apr 4, 2022
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The real estate market ran on high octane fuel during the month of March. Houses moved at a rapid pace and competition increased.
March brought 72 new listings to the market — the most new listings since June of 2021 — and those listings didn’t last long. The median days on market was just six days. Of the 72 houses that went pending in March, 38 of them lasted less than a week. The reason for the high average days on market was a few houses that had been on the market for over 100 days went pending, which skewed the average.
After a four-month peri... |
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Mar 8, 2022
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The Ames real estate market had no major shifts during February, but we did see a slight seasonal slowing of sales. We weren’t sure we were going to get that after a red-hot January, but the market appears to have taken a small breath to compose itself for a spring and summer that will likely speed things right back up. While interest rates increased again in February, this time to 4.026%, we believe the real estate market’s slower pace has more to do with seasonality rather than rising rates. The 4% rates are still historically low and create an incentive for buyers to act now. ... |
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