Estate? Buying? Selling? What to do?
Unfortunately, there is no good answer, but
let’s look at some of the facts up to this point:
Interest rates are climbing, in early 2021 30-year
mortgage rates were around 2.7%, but in mid-January the
average Freddie Mac 30-year mortgage rated jumped from
3.22% to 3.45 in just one week
The average price of a home in the Siouxland area was
$185,000 the end of 2020, then climbed to $202,000 by the
end of 2021.
That is a 9.1% increase in home values in just one year.
In late 2021 bank restrictions were removed to allow them
to start the repossession process on homeowners that were
Wells Fargo supposedly delayed that to January of 2022.
Let’s look at some of what the so-called
experts are saying about 2022:
Interest rates will continue to climb through 2022, saying
that they will most likely approach 4% by year’s end.
In fact, a recent announcement projected that the
Feds may raise interest rates as many as 4 times just this
Home prices are predicted to level out as the year
progresses, due primarily to more and more repos start
hitting the real estate market, creating or upping the
As in any market where inventory increases, buyers
have more choices, which in turn allows greater bargaining
So, what to do?
For Buyers, it appears
that as the year goes on interest rates are likely to
means that your purchasing power will decrease with each
bump, forcing you to buy a cheaper home for the same
For Sellers, home prices will most likely
start to plateau at some time this year, most likely due
to the influx of homes being repossessed.
Therefore, the sooner your home is on the market
the better your odds are of a sale.
Having said all this, every sale is a little
different and unique.
If you would like to talk about what your
possibilities or options are, give me a call.
If you would like to have a conversation
Call Lonnie @
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Here are just
some of my
Tours of properties currently
on the market
for Sale or recently Sold
1826 S Cypress St -
- 2 Br Bungalow
302 Jones St Condo # 606 -
Video tour -
4528 Wellington Ave -
Also check out my
youtube channel -
Siouxland Home Sales
Just one of the many ways I can market your property
Gilman Terrace -
Sioux City IA
Juniper Ct - Sioux City -
Ave - Sioux City IA
Around Sioux City clips -
If you have questions or would like
more info - email me
Year Active listings
Sold Listings Average Sold price
The above nformation is deemed
reliable but not guaranteed.
Sioux City Iowa
Licensed in: IA,
SD, & NE
Below are some past post