Davenport Iowa Real Estate

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Davenport, Iowa Real Estate Pricing Rises!!!

The Median Real Estate sale price rose over 20% for the Davenport, Iowa/Quad Cities area!

Quad Cities area by Lucky Lang 

In the third quarter of 2006, the median home sales price for the Davenport, Iowa/Quad Cities area was $111,500.  With numbers just in from the third quarter of 2007, the Davenport, Iowa/Quad Cities area recorded a median home sales price of $114,600.  This increase represents a 2.8% increase in the past year in spite of a slow market!  The statistic that is even more spectacular is a whopping 21.8% increase in the past six years!!!  You may read the entire article in the Des Moines Register.

What these numbers indicate to me is that our recent slump in sales over the past two years is turning the corner and we are likely in the best buying opportunity that we will see!!!  Because of all the negative news of severe price declines across the country, many buyers have taken a "wait and see" attitude about purchasing real estate

While the Davenport, Iowa/Quad Cities metropolitan area has seen some price slippage in the past two years, the market appears to be recovering.  This is great news to sellers of real estate and builders in our area!  It is also a wake-up call for buyers!

If you are renting, or are considering a move up in real estate, this could be your best opportunity with pricing still affordable and interest rates at a very good level. 

Example:

If you are looking to purchase real estate in the $150,000 price range, your principal and interest payment with a 6.5% interest rate would be only $948.10 per month.  If you wait until this time next year, and the current trend continues, we could see that $150,000 property become $154,200.  Now that may not seem like much of an increase, however, the monthly payment would now be $974.65.  That represents $9,558 over the life of a 30 year loan!!!

Another crippling factor would be if the very low interest rate of 6.5% goes to 7% (which is very possible).  That same monthly payment would become $1,025.90.  This increase would mean spending an additional $28,000 over the life of the loan!!!  If you would like to see what these changes would mean to you in your price range, go to LuckyLang.com and click on the Finance tab under my picture.  Or you may simply contact me at the information below:

LUCKY LANG, QUAD-CITIES FAVORITE REALTOR®

Lucky Lang, Realtor ®           Licensed in Iowa & Illinois

Mel Foster Co., Inc., 3211 E. 35th Street Ct., Davenport, IA  52807-2585

Cell: (563) 676-9031    Office: (563) 823-2213    Fax: (563) 459-6720    Toll Free: (800) 791-8132 Ext. 325

LuckyLang.com

Don't let this great real estate buying opportunity pass you by!!!

237 Ridgewood Avenue, Davenport, Iowa 52803

593 Clover Hill Lane, LeClaire, Iowa 52753

5445 Delton Drive, Davenport, Iowa 52804

1432 Rhinelander Drive, Davenport, IA 52804

2650 WILKES AVENUE, DAVENPORT, IOWA 52804

219 Colony Drive, Davenport, Iowa 52806

Lot 1, Shabonee Estates, Route 84, Rapids City, Illinois 61275

2419 Carey Avenue, Davenport, Iowa 52803

334 S. Elmwood Avenue, Davenport, Iowa 52802

711 Vine Street, Davenport, Iowa 52804

420 E. 6th Street, Davenport, Iowa 52803

414 E. 6th Street, Davenport, Iowa 52803

 

For info about Real Estate Anywhere in the World, please call:

LUCKY LANG, VOTED FAVORITE REALTOR®

Lucky Lang Davenport Iowa Real Estate for Sale

Lucky Lang, SRES®, RFC, M.I.S.

Licensed in Florida & Iowa

Keller Williams Realty, 830 Bald Eagle Drive, Marco Island, FL 34145

Cell: (563) 676-9031

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Don't let this great Real Estate buying opportunity pass you by!!!

Comment balloon 6 commentsLucky Lang • November 28 2007 06:53AM

Comments

Lucky,

Fortunately for Davenport, interest rates seem to be headed the other way for the near future.  What a great opportunity for your buyers!

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) about 11 years ago

Mike,

While we haven't seen a drop in fixed rates locally (to speak of), as you know the winter slow down usually brings about a slight decrease this time of year follow by a rise in the early spring.

Another reason why now is the time to buy!!!

Thanks for commenting,

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) about 11 years ago
Lucky, I love the way you linked back to your listings.  Not only are you informing consumers, but you are working for your sellers at the same time!
Posted by Lisa Heindel, New Orleans Real Estate Broker (Crescent City Living LLC) about 11 years ago

Lisa,

Work it, work it!

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) about 11 years ago

Dear Lucky,

Thank you for sharing the median price of real estate in your area.  It seems so unbelievably low to me. Our starter homes here in Taos, NM start at about $250,000.  Needless to say,  it is unreachable for most first time buyers.  Do you have a lot of first time homebuyers or is your median price just as unreachable for your area as it is for ours?

Posted by Susan Buchanan (harvey & associates realty) about 11 years ago

Susan,

I am writing an offer today with a first-time home buyer and just wrote an offer on Monday as well.  I love working with first-time home buyers because they are so thirsty for information and it is fun to guide them through the process and share their excitement!

The entry price range coupled with the interest rates make this the perfect time to get into home ownership and the smart ones are doing it!

Thanks for your comment,

Lucky :)

Posted by Lucky Lang, Marco Island & Naples Florida Real Estate (Keller Williams Realty Marco Island) about 11 years ago

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