- Register
- Sign In
West Des Moines
EXPLORE OUR FEATURED AREAS
Get Your Home Valuation Report For Free!
Find your home's value in today's market!
RECENTLY SOLD
- 1/28 28
$ 420,000 2.3%
$ 429,900
4 Beds5 Baths2,936 SqFt3425 Meadow Lane, West Des Moines, IA 50265
Single Family Home
Listed by Zealty Home Advisors
- 1/27 27
$ 216,000 4.0%
$ 224,900
3 Beds1 Bath1,209 SqFt528 13th Street, West Des Moines, IA 50265
Single Family Home
Listed by Zealty Home Advisors
- 1/28 28
$ 244,990
$ 244,990
3 Beds3 Baths1,511 SqFt2476 SE Morningdew Drive, West Des Moines, IA 50265
Condo
Listed by DRH Realty of Iowa, LLC
MY BLOGS
Is a Newly Built Home Right for You? The Pros and Cons
When searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you. Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built home today and some potential things you’ll want to think about before you ink any contracts. The Perks of Buying a Newly Built Home Customization Options: Many builders allow buyers to choose finishes, layouts, and upgrades so that you can personalize your home to your unique sense of style. This is obviously more of a draw if the home is still under construction, but sometimes you can have a builder agree to some tweaks even after it’s completed. Less Maintenance and Fewer Repairs: Everything from the roof to the appliances is brand new, which should save you on any upfront maintenance or repair costs — for at least the first few years. Many builders also offer warranties on things like structural components and major systems, to give you extra peace of mind. And not having to worry about this sort of thing is a big perk when everything feels so expensive right now. Eco-Friendly and Energy-Efficient Features: With stricter building codes, newly built homes tend to be more environmentally friendly. This can include energy-efficient upgrades like smart thermostats and high-efficiency HVAC systems or eco-friendly tech. And all of these features can save you money on your future energy bills – again a welcome relief while inflation is stubbornly high. Builder Incentives: Some builders are also offering incentives to homebuyers. While this will vary by builder, it could include rate buy-downs or other ways to offset today’s affordability challenges. As Bankrate says: “Some builders offer financial incentives, including flexible financing options, to encourage buyers to purchase. These incentives — especially if they get the buyer a lower interest rate — could make a new-construction home more affordable in the long run.” Other Considerations When Buying a Newly Built Home On the other side of the coin, there are some things that you’ll want to at least consider before making your choice. Longer Timelines: If you’re purchasing a home that’s still under construction, you may have to wait several months — or longer — before you can move in. As Realtor.com puts it: “For homebuyers who have a short time frame to move into a new home, buying new construction could be challenging if the house isn’t built yet. This is not always the case, since a community may have some quick move-in homes or spec homes that are already complete (or nearly so) and ready for a buyer to move in. But if not, a buyer may have to wait.” Potential Price Changes: Keep an eye on costs, too. It’s easy to go over budget if you keep tacking on upgrades or add-ons as you customize your build. At the same time, building materials, like lumber, can be affected by the economy, inflation, and changing trade policies. And unfortunately, if the cost of supplies climbs, builders will pass at least some of that increase on to people like you. As HousingWire explains: “Upgrades and add-ons, unforeseen delays due to weather, supply chain issues or labor shortages, and expenses like landscaping and fencing not included in the builder’s cost can significantly affect the final price.” Bottom Line New builds can be a great choice today, but you want to be sure you have all the information you need to make an informed decision on such a big purchase. That’s where our expertise and experience is extra important. Reach out to us today with any of your real estate-related questions at (515) 329-4667 or you can email us at zelda@zealtynow.com.
Read More
How To Buy a Home Without Waiting for Lower Rates
Many people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, experts say rates will decline, but not by as much as a lot of people want. The good news? Even if they don’t drop substantially, there are still ways to make buying a home more affordable. How Much Will Rates Drop? A few months ago, experts were forecasting mortgage rates could dip below 6% by the end of the year. But recent projections suggest that may not happen after all. While mortgage rates are still expected to decline some later this year, projections from Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo now show them stabilizing closer to the 6.5% to 7% range (see below): That means if you’re holding off on buying a home in hopes of much lower mortgage rates, you may be waiting a while. And if you need to move because something in your life has changed, like a new job, a new baby, or a marriage – waiting that long may not be an option. Creative Financing Options in Today’s Market Since rates aren’t expected to decline as much as originally expected, it may be worth considering alternative financing options that could help you get into a home sooner rather than later. Here are three strategies to discuss with your lender to see if any of these make sense for you: 1. Mortgage Buydowns A mortgage buydown allows you to pay an upfront fee to lower your mortgage rate for a set period of time. This can be especially helpful if you want or need a lower monthly payment early on. In fact, 27% of agents say first-time homebuyers are increasingly requesting buydowns from sellers in order to buy a home right now. 2. Adjustable-Rate Mortgages Adjustable-rate mortgages (ARMs) typically start with a lower mortgage rate than a traditional 30-year fixed mortgage. This makes them an attractive option, especially if you expect rates to drop in the coming years or plan to refinance later. And if you remember the housing crash, know that today's ARMs aren’t like the risky ones back then. Lance Lambert, Co-Founder of ResiClub, helps drive this point home by saying: “. . . ARM products today are different from many of the products issued in the mid-2000s. Before 2008, lenders often approved ARMs based on borrowers ability to pay the initial lower interest rates. And sometimes they didn’t even check that (remember Ninja loans). Today, adjustable-rate borrowers qualify based on their ability to cover a higher monthly payment, not just the initial lower payment.” In simple terms, banks used to give loans without checking to see if buyers could afford them. Now, lenders verify income, assets, and jobs, reducing the risks associated with ARMs compared to the past. 3. Assumable Mortgages An assumable mortgage allows you to take over the seller’s existing loan — including its lower mortgage rate. And with more than 11 million homes qualifying for this option according to U.S. News, it’s worth exploring if you want or need a better rate. Bottom Line Waiting for a big decline in mortgage rates may not be the best strategy. Instead, options like buydowns, ARMs, or assumable mortgages could make homeownership more affordable right now. Connect with a local lender to explore what works for you. We can refer you to our trusted lenders and let’s chat about buying your dream home! Contact us here at (515) 329-4667 or click here to start your home search now!
Read More
Buying a Home May Help Shield You from Inflation
It feels like everything is getting more expensive these days. That’s because inflation has remained higher than normal for longer than expected – and that’s impacting the costs of goods, services, and more. And with rising costs all around you, you’re probably questioning: is now really the right time to buy a home? Here’s the good news. Owning a home is actually one of the best ways to protect yourself from the rising costs that come with inflation. A Fixed Mortgage Protects You from Rising Housing Costs One of the key benefits of homeownership is that when you buy a home with a fixed-rate mortgage, your biggest monthly expense — your mortgage payment — stabilizes. Sure, your payment could rise slightly as your homeowner’s insurance and property taxes shift. But no matter what happens with inflation, your principal and interest payments won’t change. That’s not the case if you rent. Rent tends to rise over time, and it usually goes up even faster than the rate of inflation. Just look at the data from the Bureau of Economic Analysis (BEA) and the Census Bureau (see graph below): So, while renters face higher costs year after year, homeowners with a fixed mortgage rate lock in their monthly payments, making it easier to budget no matter what happens with inflation. Home Prices Typically Rise Faster Than Inflation Another big reason homeownership is a great hedge against inflation is that home values tend to appreciate over time — often at a higher rate than inflation, according to data from the BEA and Fannie Mae (see graph below): That makes real estate one of the strongest long-term investments during times of rising prices. While inflation can chip away at the value of cash savings, real estate typically holds or grows in value, allowing you to build wealth. On the other hand, renting offers no protection against inflation. In fact, it does the opposite — when inflation drives up costs, landlords often pass those increases onto tenants through higher rents. That means as a renter, you’re continually paying more without gaining any financial benefit. But as a homeowner, rising prices work in your favor by increasing the value of your home and growing your equity over time. And with experts forecasting continued home price growth, that means you’re making an investment that usually grows in value and should outperform inflation in the years ahead. In short, a fixed-rate mortgage protects your budget, and home price appreciation grows your net worth. That’s why homeownership is a strong hedge against inflation. Bottom Line Inflation can make everyday expenses unpredictable, but owning a home gives you stability. Unlike rent, your monthly mortgage payment stays pretty much the same over time. Plus, the value of your home is likely to increase after you buy. If you’re looking to enter the market and start your home search, reach out to us today at (515) 329-4667 or email us at zelda@zealtynow.com and we’d be happy to help you! How would having a fixed housing payment change the way you budget for the future?
Read More