#1 Real Estate Market For Young Professionals: Des Moines, Iowa

Des Moines, Iowa makes the Forbes list of “Best Cities For Young Professionals.” In the capital of Iowa, there is 1 big business for every 568 residents, which is a surprisingly high ratio. The unemployment rate in Des Moines is just 5.8 percent. The projected growth rate of the local economy is 0.97 percent in 2011 and another 2.86 percent in 2012. The median salary for 24-34 year olds in the city is $47,200, which isn’t terribly impressive, but one must consider that the real estate prices and living costs are 8 percent below the national average.

Financial services and insurance companies like EMC Insurance and Principal Financial Group settled down in the corn-belt city and offer a number of white collar jobs with benefits. DuPont’s bioscience offshoot — Pioneer Hi-Bred — plans to hire 500 more employees over the next few years. Economists point to the fact that business startup and operating costs are 16 percent below the national average in Des Moines, which could explain why so many companies are setting up shop here.

“We’re encountering a lot of young individuals moving here from larger cities where it would take five or 10 years to ascent into positions where here they are having opportunities given to them to move more quickly into their career paths,” says Mary Bontrager, VP of workforce for the Greater Des Moines Partnership development organization.

# 2 Real Estate Market For Young Professionals: Raleigh, North Carolina

Raleigh is an example of a college town that exploded into a great place to secure employment, invest in real estate and put down roots after graduation. The local unemployment rate is 7.9 percent (below average) and the area economy boasts a projected growth rate of 2 percent from 2010 through 2012.

High-tech and biotech research firms have set up real estate here in the Research Triangle, with hopes of attracting the best and brightest talent from nearby University of North Carolina and Duke University. This competitive environment boasts a populace that is highly educated, with more than 42 percent of the local population possessing a bachelor’s degree or higher.

#3 Real Estate Market For Young Professionals: Madison, Wisconsin

Other top real estate markets for young professionals included Omaha, Nebraska (Warren Buffet’s hometown) and Minneapolis-St. Paul, Minnesota, where unemployment is low, education levels are high, cost of living is low and job growth projections are favorable. Young professionals would also be wise to consider real estate in places like: Fairfield County, Connecticut (for hedge fund jobs); Portland, Maine (which has the most small businesses per capita); Washington, DC (for government employment opportunities); and Boston, Massachusetts (for education and high tech jobs).

As I mentioned earlier, no mention of Louisville homes or Louisville homes for sale on this list, but if you are a local and would like some help in finding the right home or possibly selling your existing home, please don’t hesitate to call, we will be happy to help!

1. Improper surface grading and drainage: This problem can lead to cracked foundations or basement flooding.
2. Improper electrical wiring: You’ll need to repair this fire and safety hazard right away before real estate selling.
3. Damaged roofing: Leaks and water damage may occur if the structure is not protected by shingles.
4. Old heating system: It can be a health and safety concern if you have a broken heat exchanger or control system.
5. Cosmetic defects: Cracked walls, crumbled masonry, broken fixtures and other minor repairs may deter buyers.
6. Structural issues: Ailing floor joists, rafters, windows and walls may be a deterrent to buyers looking for safety.
7. Plumbing: Natural gas leaks or improper plumbing fixtures could be a safety concern or a deal-breaker.
8. Exterior issues: Energy efficiency is compromised with ripped screens, broken seals or poorly caulked windows.
9. Ventilation: Problems with sealing can lead to rot, mold or premature failure of nonstructural components.
10. Environmental issues: Lead paint, asbestos or radon must be repaired before the home is safe.

Real estate selling can be a lot of work. If you’re selling your home “as is” or listing it as a “fixer-upper” for $20,000 – $60,000 because you do not want to do the repairs, that is okay and will probably attract the right type of buyer. However, if you’re inviting the general public into your home and parading it as a higher end  $400,000 – $500,000 beauty, you must be prepared to do the work before listing your home in our current Louisville real estate market.

Gutters: Each spring and fall, make sure your rain gutters are clear, debris is removed from the roof, and excess foliage is cleared away from the house. This will prevent the elements from damaging structural components of your home (like your roof) and creating unanticipated leaks.

Water: Make sure all water is diverted from your home. This means checking the sump pump discharge spot, gutter downspouts and faucets.

Furnace: You should clean or replace your furnace filters every month while in use.

Pests: To keep pests like ants and termites away from your home, be sure to keep mulch at least six to eight inches away from your home’s siding.

Wood: Paint all weathered exterior wood to prevent rotting.

Caulking: Caulk around your chimney, windows, doors, and trims to keep the home well-sealed.

Windows: Replace cracked window panes and make sure your windows can open and close.

Light Bulbs: Replace burned-out bulbs and upgrade with more energy efficient ones.

Plumbing: Repair any leaks or clogs on toilets, tubs, showers and sinks.

Access: Ensure that there is clear access to attic crawlspaces, the water heater, cooling systems and electrical panels.

Taking care of all these items will ensure that future home inspections are a breeze.  For more information on Louisville homes for sale, please don’t hesitate to contact us at Housing Associates Realtors!

Before purchasing a home, you should take a thorough look into the neighborhood. This is a long-term investment, so make sure that you feel comfortable with the area. It is important to familiarize yourself with the surrounding area prior to purchasing the home so that you are fully aware of what to expect.  In many cases, these Louisville homes are priced lower to make up for their need for renovations. You may end up getting a real bargain that you can fix up exactly the way you want it. If you happen to get the property for a great price, you can also add a significant amount of equity by making the right improvements. Try to envision what the house might look like once all the improvements are made rather than dwelling on its current condition. A little fix up work can transform an ugly facade into your dream home!

Plan ahead of time which questions you are going to ask your Louisville real estate agent. Be sure your questions are important, such as the number of Louisville homes that they were able to sell in the particular area you’re interested in and the total number of Louisville homes that they were able to sell in the past year. The agent’s responses to these questions will provide you with the information you need to reach a decision.  Do a quantitative analysis of your area’s housing market. Look at some websites such as City-data.com to get information about average selling prices, average number of days listed on market for Louisville homes to sell in your specific zip code, foreclosures, and other sources of information. Also, you should check out local employers, the unemployment rate, and average income level. The truth is, if the house is nice and is in a good neighborhood, it can overcome some of neutral or negative traits of a community.

As you’ve been able to see from the information outlined above, there’s a lot for first time property buyers to consider but with a common sense approach and diligent research you’ll be successful in reaching your goal. Utilize the advice in this article, and start making intelligent Louisville real estate purchasing decisions.

We now know how destructive that practice turns out to have been, so on some level, we probably shouldn’t even pay attention to those years since the values were a bit inflated with sales from buyers who had no business even being in the market.  But they were, and so the numbers remain.

From other posts on other sites, it is apparent that the overall number of sales may be on the rise a little bit, but are still historically low.  And so we are faced with the odd juxtaposition of having prices rise close to new highs, and yet the overall activity levels are still running at medium speed, if not lower.  It appears that many people have simply removed themselves from the market and are no longer trying to sell.  And that lower number of home sellers is the major reason why prices are on the rise.  There just aren’t as many quality homes available, and the good homes seem to leave the market pretty quickly.

In our current market, it’s not uncommon to see homes taking either a very short time to sell, or a very long time.  It appears to be either feast or famine, as the homes that are in great shape and priced right will find a buyer very quickly, but the homes with a lot of deferred maintenance and priced too high will sit on the market far too long.

On the graph above, which shows the median asking price of homes currently for sale, 40205 is plotted in gold, showing the 90 day trend line, and 40204 is shown in black.  Two years ago, in early spring of 2010, 40205 saw values at $257,000.  Over the next 24 months, that measurement dropped as low as $230,000 and never really got higher than $258,000.  When looking at this graph, please remember we are dealing with a trend line and not weekly data points, which would provide us with a much more volatile graph, these trend lines will appear to be much more subdued.  But the basic point remains, there really wasn’t too much movement here, prices for 40205 were relatively stable and our current asking prices aren’t too far off where they were in 2010.

40204 is a bit different.  Even using a rolling trend line doesn’t spare us the fact that overall, this zip code has seen primarily declining prices in the past two years.  Starting the graph off, we had a median asking price of $160,000 or so, which has since eroded to last week’s measurement of $143,000.  And that is after a little rebound!  Earlier this year, it would have looked worse for 40204, with values closer to $130,000.

Before I sign off, here is one more graph or statistic to chew on while thinking about the overall health of the Louisville Highlands real estate market.  This chart shows the number of homes for sale at any time in the past two years, again using a trend line here.  In 40205, we can see that the overall trend is that we see fewer and fewer homes available for purchase as there are currently over 20% fewer units available today than March ’10.  Sadly, the same can’t be said for the 40204 market, the inventory level is almost exactly the same today as it was in mid to late March of 2010.

Ensuring that your windows are free of streaks and smudges can make your Louisville home seem clean and airier. Windows that sparkle allow in more natural illumination, and they also give a feeling of newness to a Louisville home. Buyers will notice the sparkling windows, but don’t have to know it took you hours to scrub them.

If you plan on selling your home, get rid of as much clutter as possible, even if you intend to remain living there while it’s on the market. Give your potential buyers the space they need to imagine the Louisville home as their own. By sorting through your things and discarding those you don’t actually want, you not only make this possible, but you also make it easier for you to make the actual move when you need to.

The best way to sell a home in any market is to ensure that the price you set for it is reasonable. Do some research on how much similar houses have sold for in your neighborhood, and set your price close to the average. If your Louisville home is initially priced too high, you might have to reduce the cost.

Minor updates to your kitchen can make your Louisville home significantly more valuable and appealing. For instance, you could replace an old ugly appliance with a new, modern focal piece. Hanging storage and a wood block kitchen island fixture are also noteworthy upgrades. Switching out cabinets is rather costly, so consider painting them to provide a fresh look.

Those who are selling commercial space should consider hiring a Louisville real estate professional, whose specialty is selling commercial property. An agent who knows how to make a professional deal with plenty of experience should leave you happy when everything is all done. An agent that is experienced will be able to find buyers that are looking for property, such as yours.

If you plan to paint the inside spaces of the Louisville home before placing it on the market, try to avoid being influenced by your own color preferences when selecting paint shades. It is wiser to go with neutral colors, like eggshell or taupe. A freshly painted room will make your Louisville home loom more appealing to buyers, but only if the color of the room doesn’t scare them off.

Before approaching the task of buying or selling Louisville real estate, it is a good idea to set specific goals. By focusing on the best prices, amenities and locations, the buyers will be able to avoid being swayed by their own eagerness. A hard limit for prices you are willing to accept will force the sellers to either negotiate or lose a sale; some are willing to do both.

Give your agent the benefit of the doubt and treat them with patience. Part of their job is delivering potentially unpleasant news, such as the fact that your property needs repairs before it will sell. You may curse your agent under your breath, but in generally, following his advice will help you sell your Louisville home faster and for more money.

Selling a Louisville home can be stressful and difficult. It is even harder in today’s tough economic climate. There are many things to consider before, during and after putting a Louisville home on the market. The advice you have read here, however, will help you during this process and hopefully reduce the stress surrounding it.

The sale of homes rose 1.4 percent in October, compared to September, the National Association of Realtors reported. Sales will likely beat last year’s 4.91 million units – which may sound like a lot, but actually represents the lowest level in 13 years. Homes sales are recovering, but at what cost? The median price of homes in America fell to $162,500 in October, which is a decline of 4.7 percent from October 2010.

Why Aren’t Homes Sales Moving Faster?

Even though 30-year mortgage rates have fallen below 4 percent – the lowest level in 60 years – it doesn’t seem to be securing buyers in the droves it typically would. Economic uncertainty, high jobless claims and this notion that “prices are still falling” is leading many prospective buyers to slow their search for homes.

The National Association of Realtors points to a problem that most people aren’t talking about: the number of contract failures. According to their latest survey, 1 in 3 real estate agents had a contract fall through in October. Many of these contracts fail because the mortgage appraisals come in low and buyers don’t qualify for mortgages on their dream homes.

Discrepancies in the sale of homes still fluctuate wildly from market to market too. For instance, sales of homes rose 4.4 percent in the West, 2.8 percent in the Midwest and 2.1 percent in the South, but dropped 5.1 percent in the Northeast. This trend was likely a result of surprise snow and ice storms in places like New York and Connecticut. Others argue that the lower loan limits for government-backed mortgages that took effect on October 1st could explain some of the Northeast declines (where homes are more expensive).

Is There A Silver Lining?

October marks the lowest number of homes listed all year, with 3.33 million properties offered up for grabs. Some people argue that the 8-month inventory is shrinking closer to the “healthy” 6-month inventory of homes. When the inventory drops enough, competition increases and prices go back up. However, others argue that sellers have already pulled their homes off the market to “wait for a better time to sell” and that many more sellers will likely emerge in droves once the prices of homes stop dropping.

According to Mark Fleming, chief economist for CoreLogic, this “shadow market” of inventory may not be fully realized or rectified until 2020. However, the “silver lining’ is that a more gradual recovery will do less damage to the prices of homes than pushing through a speedy recovery that the market cannot handle.

To see a complete list of Louisville homes for sale, please visit our Property Search Page, and for any questions, please leave a comment or fill out a form on the Contact Us Page.

Start planning your DIY projects well before you start them. You should begin searching for home ideas so that you will come up with more ideas before you have to decide. Knowing what you want ahead of time will make your project less stressful, and you will be happier with the outcome.

If you decide to renovate a kitchen or bath, be sure to substitute old sheet rock with drywall specifically made to resist water. Water resistance is important to prevent dangerous molds from thriving within moist walls. “Green board” is a product that is water resistant, and can prevent mold growth so is ideal for this purpose.

Safety is key when starting a new home project. If you neglect this, your home could be damaged or you could be hurt. Get all the information you can about proper power tool use and methods for your renovation before getting started.

Stucco is an attractive replacement option for your exterior siding. Stucco is a simple, age-old process, but requires some expertise in application and special forms to hold it in place, so you may want to hire a professional. Stucco has long been popular because its beautiful appearance is long lasting.

If you are updating your outside lights, try adding lights with built-in motion detectors. Motion activated lights add that extra bit of security, because they can scare a potential thief, and the light will alert you to their presence. You will also see lower electric bills.

Always take the time to cover all the surfaces that you can when you are doing almost any form of remodeling. Protecting surfaces from scratches, dents and splatters will save you time and money in the long run. You should also cover walls if debris is going to be flying around when you whack out a cabinet. All fixtures should also be covered if you are painting.

Do not be afraid of new ideas, but do them slowly when you are dealing with the world of home improvement. You should be able to do it if another person can. Use the tips in this article, and your next project will go more smoothly.

Thanks for stopping by this site devoted to Louisville Indian Hills homes for sale and checking out our posts and viewing all of the available properties in this area. For a bigger collection of articles as well as weekly updates of city market patterns, please make sure to stop by our blog page or go straight to our Louisville St Matthews homes page or http://housingassociatesrealtors.com/communities/louisville-indian-hills-homes-real-estate/, whichever is easier for you.

If you have a friend who knows about real estate, bring him or her with you when you visit the house. This could benefit you because that person may notice something you otherwise would have missed. Encourage them to speak up and ask questions too.

If the home you are buying has been foreclosed on, it’s probably best to assume that it might need some repairs. Many of these homes have been vacant for a while, so they have not had proper maintenance done. Quite often a foreclosed house will require a new HVAC system, and it may also have pests.

Before you look at a home, you will know its asking price is but your offer will typically be less than the asking price. You can work with the seller to try to determine a final price that is agreeable to both of you.

Don’t just research the property you are interested in; research the surrounding neighborhood, as well. If the neighborhood isn’t suitable, you’ll be upset with the home regardless. If you do not have a good feel for the neighborhood, then you may have issues in the future.

Do not purchase a property unless you engage in proper research. Many individuals get into the real estate market without thinking things through, and they buy properties that they never should have become involved with. This can cost them time and money. Prior to spending your money on anything, inquire about the area that the property is located in, how much crime is in the area, how old the property is and more.

Don’t pay too high of a premium just for a good view. This feature is entirely subjective and perhaps your buyer will not find it interesting. Subsequently it is best to only pay for the view because you want to.

When buying a house, make sure you understand your options when it comes to the term of your loan. Confusion can be kept to a minimum by knowing how mortgage terms impact your monthly payments, as well as the entire cost over the duration of the loan.

In conclusion, we have provided you some of the most crucial aspects regarding buying real estate. We hope that you not only were able to learn something, but that you also will be able to successfully apply it. Follow our advice and you will be one step closer to being an expert in this subject.

Thank you for visiting this site dedicated to Louisville foreclosures and checking out our posts and viewing all of the available properties in this community. For a more complete collection of blog posts as well as frequent reviews of community market data, please make sure to stop by our blog page or go straight to our Louisville Indian Hills real estate page or http://housingassociatesrealtors.com/rentals/, whichever is easier for you.