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May 17, 2024
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FIND YOUR PERFECT LOT, BUILD YOUR DREAM HOME!
The City of Ames implemented a first-of-its-kind tax abatement called the Urban Revitalization Area (URA). Here’s what you need to know!
- Applicable to all new construction homes or townhomes that are owner occupied
- The program will be eligible for any new construction homes between now and the end of 2028
- 5-year, graduated scale abatement. 100% for the first year, then 80%, 60%, 40% and 20%. After the fifth year, it returns to full-tax payment
- The first $500,000 of improvement value on a p... |
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Mar 15, 2024
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The February Real Estate report will look a little different this month because the Ames Real Estate market got some excellent news.
Ames has had a housing shortage for the past several years and new homes aren’t being built at a pace that can keep up with demand. On February 28, the Ames City Council moved to put in place a city-wide, tax abatement strategy for the first time in history!
The tax abetment will go into place on April 9 and extend for 3.5 years. It will be applicable to all new construction homes or townhomes that are owner occupied and will go toward... |
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Feb 7, 2024
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The new year brought revitalized real estate action in Ames during January. The market is more balanced than it’s been in years and if you’ve thought about buying or selling a home, this is the year to do it!
After a typical and seasonally slow couple of months in November and December, January picked up where October left off. New listings ticked back up to 44, which is a promising sign for the upcoming year in real estate. Last year, we had just 34 new listings in January. The median sale price for homes in Ames is also up 14% from this time last year.
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Nov 17, 2023
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Friedrich is honored to sweep the Community Choice Awards Best of Story County real estate category this year. Friedrich Iowa Realty was selected as the Best Real Estate Company for the fifth consecutive year and Jason Jennings won Best Real Estate Agent/Team. The accolades didn’t stop there, either. At Friedrich, we pride ourselves on being a full-service real estate company and our Friedrich Properties’, Mackensie Allen, won Best Property Manager!
We couldn’t be more grateful and thankful that the community voted us the best in these categories. We&rsquo... |
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May 10, 2023
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Historically, April has been the month with the second most new listings in a year— May is traditionally the month with the highest number of new listings. This April, the rate of new listings abated slightly from March to April, as well as year over year from 2022 to 2023. This may be an anomaly, but if this trend were to continue in May, the Ames real estate market could feel even more of a squeeze as we head into the summer months.That could mean increased competition for homes that are on the market corresponding with a build-up in demand.
The Ames market is still movin... |
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Apr 11, 2023
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As the warm spring weather and longer days bring renewed energy to day-to-day life, it also does the same for the real estate market.
The Ames Market saw an almost 40-percent increase in new listings and sold listings in March compared to February. We also saw an increase in the median list price and median sale price. Some of the increased activity could be attributed to interest rates, which were friendlier in March. The Federal Reserve seems resolute continue its battle with inflation that we’ve seen over the past year, but may need to apply caution in view of over-shoot... |
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Mar 11, 2023
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Interest rates jumped to the highest we’ve seen since October of 2022, but that did little to slow the Ames real estate market. Still, interest rates and a macro lens on the economy are something to monitor as interest rates can determine affordability for many buyers.
“A promising January, with mortgage rates falling to 6.1%, was followed by an unfavorable February, with rates moving up again,” said Nadia Evangelou, the National Association of Realtor’s senior economist. “What should we expect from mortgage rates this month (March)? It all com... |
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Feb 11, 2023
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The New Year brought renewed real estate activity to the Ames real estate market.
As interest rates continue to trend downward after peaking above 7%, buyer activity continues to increase. That increased buyer activity led to the median days on market to be just four days in January — the lowest since April of 2021. The good news for those buyers was that 34 new listings were introduced to the market after consecutive months of just 19 new listings. Yearly seasonal trends indicate that the number of new listings will continue to increase through the summer months, whi... |
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Jan 17, 2023
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2022 was wild ride but trends are normalizing and the outlook is positive for both buyers and sellers in 2023.
The year-long trend of low inventory and high demand continued in December. The active listings dipped down to a seven-month low with just 60 houses on the market while the median days on market dropped to six days.
The 30-year interest rates continued to float just above 6% in December. The National Association of Realtors Senior Economist Nadia Evangelou said that rates are expected to stabilize below 6% in 2023, which is positive ne... |
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Dec 15, 2022
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We received a welcome reprieve after 10 months of steadily increasing interest rates, prospective homebuyers got some good news in November. Interest rates have reversed their year-long trend of steadily increasing and dipped back down. Rates are expected to continue to decrease as the Federal Reserve apparently continues to get inflation more under control.
“Thanks to the rate-friendly inflation data, mortgage rates dropped back below 7%,” said Nadia Evangelou, senior economist and director of forecasting for the National Association of Realtors. “It seems that... |
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