Could a 55+ Community Be Right for You?

Are you considering downsizing and exploring options for your next chapter? If so, you may have heard about 55+ communities and wondered if they might be the right fit for you. As a trusted Realtor in Iowa, I’m here to provide you with the insights you need to make an informed decision. What Is a 55+ Community? It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains: “The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’ refer to a setting that caters to the needs and preferences of adults over the age of 55. These communities are designed for seniors who are able to care for themselves but may be looking to downsize to a community with others their same age and with similar interests.” Why Consider a 55+ Community? If the idea of a 55+ community piques your interest, there’s good news: the options for homes in this category have grown significantly. According to 55places.com, there’s been a 50% increase in listings for buyers in this age group compared to last year. This means you’re likely to find a home that’s perfectly suited to your needs and preferences. Other Benefits of 55+ Communities On top of that, there are other benefits to seeking out this type of home. An article from 55places.com, highlights just a few: Lower-Maintenance Living: Tired of mowing the lawn or pulling weeds? Many of these communities take care of this for you. So, you can spend more time doing fun things, and less time on maintenance. On-Site Amenities: Some feature lifestyle amenities like a clubhouse, fitness center, and more, so it’s easy to stay active. Plus, others offer media rooms, libraries, spas, arts and craft studios, and more. Like-Minded Neighbors: Additionally, these types of homes usually offer clubs, outings, meet-ups, and more to foster a close-knit community. Accessible Floor Plans: Not to mention, many have first-floor living options, ample storage spaces, and modern floor plans so you can have a home tailored to this phase in your life. Bottom Line If a 55+ community sounds like the right fit for you, let’s connect to explore what’s available in the Iowa real estate market. Together, we can find a home that aligns with your needs and aspirations in this exciting stage of life. Reach your trusted Realtor in Iowa, Beth Van Zee.

Are We Heading into a Balanced Market? Insights from Beth Van Zee

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. What Is a Balanced Market? A balanced market is typically defined as one with about a five-to-seven-month supply of homes available for sale. In this scenario, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there's a healthier selection of homes to choose from. After several years where sellers held most of the leverage, a more balanced market could be a welcome sight for anyone looking to buy or sell a home in Iowa. But are we really heading there? Starting the year with a three-month supply of homes nationally, inventory has recently increased to four months. While this might not seem like a big jump, it does signal that the market is inching closer to balance, though it's not quite there yet. Importantly, this rise in inventory isn’t leading to an oversupply that would cause a market crash. Even with recent growth, there’s still not enough supply to trigger such a downturn. The graph below uses data from the National Association of Realtors (NAR) to give you an idea of where inventory has been in the past, and where it’s at today: For now, this is still seller’s market territory – it’s just not as frenzied of a seller’s market as it’s been over the past few years. As Mark Fleming, Chief Economist at First American, says: “The faster housing supply increases, the more affordability improves and the strength of a seller’s market wanes.” What This Means for You and Your Move Here's how this shift impacts you and the market conditions you'll face when you move. Lawrence Yun, Chief Economist at NAR, explains: “Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.” The graphs below use the latest data from NAR and Realtor.com to help show examples of these changes: Homes Are Sitting on the Market Longer: With more homes available, properties aren’t selling as quickly. For buyers, this provides more time to find the right home. Sellers, on the other hand, need to price their homes competitively if they want to attract offers. Sellers Are Receiving Fewer Offers: As a seller, you may need to be more flexible and open to negotiating on price or terms to close a deal. Buyers could face less intense competition, with more options to choose from. Fewer Buyers Are Waiving Inspections: Buyers now have more negotiation power, which is why fewer are waiving inspections. Sellers should be ready to negotiate and address any repair requests to keep the sale moving forward.   How a Real Estate Agent Can Help But this is just the national picture. The type of market you’re in is going to vary a lot based on how much inventory is available. So, lean on a local real estate agent for insight into how your area stacks up. Whether you’re buying or selling, understanding how the market is changing gives you a big advantage. Your agent has the latest data and local insights, so you know exactly what’s happening and how to navigate it. How Beth Van Zee Can Help? Remember, these trends represent the national picture. The market in your local Iowa community might look different based on available inventory. That’s why it’s crucial to lean on a local real estate expert like Beth Van Zee for insights on your specific area. Whether you’re buying or selling in Iowa, understanding how the market is evolving gives you a significant advantage. Beth Van Zee has the latest data and local insights, so you know exactly what’s happening and how to navigate it effectively. Bottom Line The real estate market is always in flux, and staying informed is key. Whether you’re buying or selling in Iowa, understanding this shift toward a balanced market can help you make smarter decisions. If you have any questions or need expert advice, don’t hesitate to reach out to Beth Van Zee, your dedicated Realtor in Iowa.

2025 Housing Market Forecasts: What To Expect

Looking ahead to 2025, it's important to know what experts are projecting for the housing market. And whether you're thinking of buying or selling a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans. Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025. Mortgage Rates Are Expected To Gradually Decline Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo show an expected gradual decline in mortgage rates over the course of the next year (see chart below): This expected decrease is tied to a continued reduction in inflation and a mild increase in unemployment rates, signaling a strong but decelerating economy. The Federal Reserve is likely to lower the Federal Funds Rate, which typically leads to lower mortgage rates. As Morgan Stanley says: “With the U.S. Federal Reserve widely expected to begin cutting its benchmark interest rate in 2024, mortgage rates could drop as well—at least slightly.” Increase in Home Sales Expected The market will see an increase in both the supply of available homes on the market, as well as a rise in demand, as more buyers and sellers who have been sitting on the sidelines because of higher rates choose to make a move. That’s one big reason why experts are projecting an increase in home sales next year. According to Fannie Mae, MBA, and NAR, total home sales are forecast to climb slightly, with an average of about 5.4 million homes expected to sell in 2025 (see graph below): This marks an improvement from the sales figures of 2023 and 2024, where approximately 4.8 million homes were sold in 2023, and around 4.5 million homes are expected to sell in 2024. While the decline in mortgage rates may not cause a surge in market activity, it will likely encourage more buyers and sellers to make their move, leading to increased competition for available homes. Moderate Increase in Home Prices With more buyers entering the market, home prices are expected to experience moderate growth in 2025. According to 10 of the most trusted sources in real estate, the average national home price is forecast to rise by about 2.6% next year. (see graph below): But as you can see, there’s a range of opinions on how much prices will climb. Experts agree, however, that home prices will continue to increase moderately next year at a slower, more normal rate. But keep in mind, prices will always vary by local market. Bottom Line Being aware of 2025 housing market forecasts is vital for planning your next move in Iowa real estate. Whether you're considering buying or selling, staying informed about trends in mortgage rates, home sales, and prices will help you make the best decision possible. Let's connect to discuss how these forecasts could impact your real estate plans in Iowa.   SEO Keywords: Realtor in Iowa, Iowa real estate, 2025 housing market forecast, mortgage rates in Iowa, Iowa home sales, Iowa home prices. Expert Realtor in Iowa, Beth Van Zee, Expert Insights for Iowa Real Estate

How Presidential Elections Impact the Housing Market: What Buyers and Sellers Need to Know

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. Those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move. Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to pause your plans in the meantime. Here’s a look at decades of data that shows exactly what’s happened to home sales, prices, and mortgage rates in previous Presidential election cycles, so you can move forward with the facts as you weigh the pros and cons of your homeownership decision. Home Sales In the month leading up to a Presidential election, from October to November, there’s typically a slight slowdown in home sales (see graph below): Some consumers will simply wait it out before they make their purchase decision. However, it’s important to know this slowdown is small and temporary. Historically, home sales bounce right back and continue to rise the following year. In fact, data from the Department of Housing and Urban Development (HUD) and the National Association of Realtors (NAR) shows after 9 of the last 11 Presidential elections, home sales went up the year after the election, and it’s been happening consistently since the early 1990s (see chart below): Home Prices You may also be wondering about home prices. Do prices come down during election years? Not typically. As residential appraiser and housing analyst Ryan Lundquist notes: “An election year doesn’t alter the price trend that is already happening in the market.” Home prices generally rise over time, regardless of an election cycle. So, based on what history shows, you can expect the current pricing trend in your local market to likely continue, barring any unusual market or economic circumstances. The latest data from NAR reveals that after 7 of the last 8 Presidential elections, home prices increased the following year (see chart below): The one outlier was from 2008 to 2009, which was during the height of the housing market crash. That was certainly not a typical year. Today’s market, however, is much more resilient. And while prices are moderating nationally, they aren’t on an overall decline. Mortgage Rates And the third thing that’s likely on your mind is mortgage rates, since they impact your monthly payment if you’re financing a home. Looking at the last 11 Presidential election years, data from Freddie Mac shows mortgage rates decreased from July to November in 8 of them (see chart below): And this year, we’ve already started to see that happen. Most experts also forecast mortgage rates will ease slightly throughout the rest of 2024. If that happens – and all signs right now indicate it should – this year will continue to follow the trend of declining rates. So, if you’re looking to buy a home in the coming months, this could be great news for your purchasing power. What This Means for You What’s the big takeaway? While Presidential elections do have some impact on the housing market, the effects are usually minimal. As Lisa Sturtevant, Chief Economist at Bright MLS, says: “Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years.” For most buyers and sellers, elections don’t have a major impact on their plans. Bottom Line While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient. And this means you don’t have to pause your plans in the meantime. For help navigating the market during this election cycle, let’s connect. Call me at (515) 556-2310 or Email me at beth@bvshomes.com.   Keywords: Realtor in Iowa, Iowa real estate, housing market during elections, election impact on real estate, presidential elections and housing, Expert Realtor in Iowa, Beth Van Zee, lpt realty