Burnett Blog

Every year the Des Moines Home Builders Association partners with local builders and vendors to put on a spectacular show of custom built homes. These homes are fully decorated and decked out with the latest and greatest in environmentally friendly features and the newest technologies. If you’ve thought about building, you can’t miss this event as it will provide you with many ideas! For those not looking to move…it’s just a great event to see some gorgeous homes. The cost is only $10 for adults. For complete information, visit: HomeShowExpo 2010

While your there, visit house #1 to pick up a Hubbell Buck!!! ONE Hubbell Buck is worth $1000 off a home in the existing Hubbell Homes inventory or $2500 off a custom built-to-order by Hubbell Homes. Contact your Burnett Realty agent to put your Hubbell Buck to use!!

Burnett Realty
515.334.4900
www.BurnettRealty.net

At Burnett Realty, we only choose building partners who believe in the same things we do. We sell Hubbell Homes because of their commitment to customer service and a quality product. Hubbell Homes plans to break their own records by selling 200 more homes in the Des Moines market in the next 6 months. To make this exciting goal, they’ve recently lowered their prices to make their pricing some of the most competitive in new construction homes. Their competitive pricing combined with historically low interest rates allow you to afford a new energy efficient home of your dreams.

“I’d like to announce that Hubbell Homes is making a new, unprecedented commitment to the central Iowa real estate market. Between now and the end of the year, we are putting over 200 homes and $40 million worth of new home inventory in the ground.” says Rick Tollakson, President of Hubbell Homes.

At Burnett Realty, we represent Meadowlark South in Grimes. This community has been enticing to buyers due to their short commute to Des Moines and western suburbs while allowing their children to be in the Grimes school system. Built as one of Hubbell’s conservation communities, residents enjoy the lush green space and walking/biking trails. To see our inventory at Meadowlark South in Grimes, please visit www.MeadowlarkSouthGrimes.com. Visit us any Saturday or Sunday from 1:00-4:00 pm.

Keep in mind, any Burnett Realty agent can show you any Hubbell Home or walk you through the process of building a custom home. Choose Burnett Realty and Hubbell Homes as your partners in success. Call a Burnett Realtor today at 515.334.4900.

Today, the Des Moines Area Association of Realtors published the June 2010 real estate market statistics. The numbers were promising and shows the Des Moines market to be as strong as ever. When comparing June 2010 to June 2009, it doesn’t appear that the lack of tax credit is hurting the market any. With interest rates as low as they have ever been, investing in real estate makes sense now more than ever.

June 2010 had 236 more closed transactions than June 2009.

Average sale price in June 2010 was $172,510 as compared to $168,750 in June 2009.

Average days on the market changed from 106 (6/2009) to 85 (6/2010).

Let a quality Burnett Realtor guide you through the ins and outs of buying and selling real estate, call 515.334.4900 today. For free mortgage pre-approval, call Central Iowa Lending at 515.334.4980.

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Articles such as this are the opinions and advice of Doug Burnett, Broker/Owner of Burnett Realty. When making any real estate decisions or transactions, please consult the advice of your own Realtor and/or attorney.

Mortgage rates have dropped to 4.375%, which is as low as they have ever been. Common sense would tell us they are more likely to go up than down. These low rates, good weather and the quality inventory on the market make it a great time to buy or sell. We asked Brian Byrnes of Central Iowa Lending to explain how these rates can change a house payment compared to someone who bought 2 years ago and he said, “Compared to the 5.75% rate that consumers saw in May ‘08, a rate of 4.375% can lower a mortgage payment about $169 per month on a 200,000 mortgage.” For more information on the lowering interest rates and how it can affect your mortgage, call Central Iowa Lending at 515.334.4980 or talk with your Burnett Realty Realtor.

Did you miss the tax credit deadline? And does that mean you should put off your dream of owning a new home? Not necessarily – maybe waiting even paid off. A true apples to apples analysis would require taking into account many variables, however, I will make a simple argument that waiting until recently to buy a home might pay off better than receiving the tax credit.

Up until about the time the tax credit expired we were in a 5.25% to 5.75 % mortgage rate environment for an FHA thirty year mortgage. An eligible first time home buyer received an $8,000 tax credit and an eligible seller selling a home they owned for at least five years would receive a $6,500 tax credit. Good deal, but what about buying now. Well…

Interest rates have dropped, so let’s compare two loans with minimum down (3.5%), 30 year FHA loans on a $100,000 property. Mortgage A is at 5.5% (and gets a tax credit) and Mortgage B is 4.5% (and does not get the credit). In the first five years of making the loan payments,  Mortgage A will cost $3,537 more in monthly payments and $4,795 more in interest than Mortgage B would, a difference of $8,332!!! If you hold onto the property longer, the savings can get dramatically bigger. The savings also are bigger if buying a more expensive property (an average home in Des Moines costs $160,000). If you looked at the entire 30 year life of the loan; the total interest on Mortgage A will be $100,749 and Mortgage B will be $79,522, a 20% difference!

Here is the point. We are in an environment of historically low interest rates and that can dramatically enhance the overall cost savings of buying a home. Fortunately, we also have relatively low prices and lots of selection, a triple home run. You haven’t missed the boat by missing the tax deadline. But interest rates will go up and that is one opportunity you do not want to see slip by.

If this was confusing, or made you go “hmmmm”, then talk to a professional who can help you go over the details, pressure-free. Call a Burnett Realty Realtor at 515.334.4900 or one of our loan professionals at Central Iowa Lending, 515.334.4980.

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Articles such as this are the opinions and advice of Doug Burnett, Broker/Owner of Burnett Realty. When making any real estate decisions or transactions, please consult the advice of your own Realtor and/or attorney.

Des Moines is earning some serious bragging rights as article after article is written about how Des Moines is a great place to live, work and play. Kiplingers Personal Finance Magazine published an article today called “10 Best Cities for the Next Decade.”

The article stated “Mark Emmert, president of the University of Washington in Seattle, put his finger on two of them: smart people and great ideas. But we’d argue that it’s the third element — collaboration — that really supercharges a city’s economic engine. When governments, universities and business communities work together, the economic vitality is impressive.”

Here’s what it had to say about Des Moines…

There’s more to Des Moines than agricultural jobs. A likely worker shortage sparked by retiring baby-boomers has lit a fire under Des Moines’s civic leaders. The city is working to lure back young Iowans and attracting global talent by developing its downtown and promoting the jobs available in the many industries that flourish there. Other big draws: low-cost housing, plus the city’s long-touted reputation for family-friendliness and a “19-minute commute.”

We couldn’t agree more! Are you looking to relocate to Des Moines, Iowa? Or looking to make a great investment by buying a home? Call a qualified Burnett Realty Realtor today at 515.334.4900.

Read the full story here.