Iowa City Housing Market Looking Strong
Turn on just about any news show or read any newspaper and you’re bound to see or hear something negative about the housing market.
While the rest of the country waits for the housing slump to end, some Iowa City Realtors are working seven days a week to meet customer’s demands.
At the annual Parade of Homes, some Iowa home buyers are looking around… others are looking for something else.
“This gives you some impressions as to what to do with your current house to put it on the market so that you can buy a new place,” Bob Nelson said.
He and his wife are looking at everything from door knobs to light fixtures.
“One of these homes has cherry cabinets, so I wanted to look at that. We have cherry. So, it’s kind of comparing what they have in these,” Sue Nelson said.
The parade also gives people to see some of the latest trends - like rounded wall corners - so the paint won’t chip as easily.
Realtors say Iowa City’s market remains strong because mortgage rates are low. Plus, the University of Iowa is nearby.
Some houses in still have trouble selling, though… and that could be for a simple reason - Iowa home prices are listed too high.
“If you have the idea - well, let’s price it high, we can always come down… that’s not going to work in this market. We have sophisticated buyers who generally know what the value of a house is,” realtor Kay Braverman said.
Whether you’re looking to buy or sell, Braverman says the best advice she can offer is to make sure you trust your Realtor.
Nationwide, most people move every seven years. But, in Iowa City, the rate drops to about every five years.
Realtors say that’s another reason why the market is stronger there, and the time is right for buyers to apply for an Iowa mortgage.
SOURCE: KCRG-TV