Posts from June 2019
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24
Why Getting Pre-Approved Should Be Your First Step
In our markets, buyer demand outpaces the current number of homes for sale. Now, more than ever it is important to get pre-approved before beginning your home search.
Get a better idea of what you can afford.
A pre-approval can help determine how much you can afford and what a lender would be willing to lend you. So don't waste time and energy looking at houses you can't afford.
Stay competitive with other potential buyers.
You may lose out to other buyers who are already pre-approved if you find your ideal home.
Have your offers welcomed by agents.
Real estate agents are well aware that an offer may fall apart if the buyer has not been pre-approved. Contact us with questions or visit RuhlMortgage.com to learn about pre-approval, to get a second opinio...
3
Home Price Appreciation Increases Across Our Region
Dubuque Ranks Highest Regionally for One-Year Gain
Five-year home appreciation in our region was between 13.25% and 16.31% with all of our regional Metropolitan Statistical Areas experiencing a positive gain. "House prices have risen consistently over the last 31 quarters," said Dr. William Doerner, Supervisory Economist.
"Although price growth is still positive, the upward pace is softening across the country, especially among states with the largest supplies of housing." In the past year, home prices have changed: +3.95% in Dubuque; +2.87% in Iowa City; +2.40% in Cedar Rapids; and +2.72% in the Quad Cities. This compares to other cities: Des Moines up 3.76% and Chicago up 2.76%. Of course, there is considerable variation based on price range and location of properties, with more affordable properties appreciating more. "Regionally, housing supply has been tightening," said Caroline Ruhl, CEO of Ruhl&Ruhl Realtors. "As a result, we see our home prices ap...
