Posted by B.L.Renfrow on March 20, 2000 at 21:21:20:
Carlos,
I grew up just outside Des Moines, in fact spent about 27 years in the area, so I know a little about it. Although I moved from IA some 13 years ago, I still have family near DM, so I make it out there at least once a year or more.
Every year, I am amazed at the continued viability of the RE market there. In fact, it’s now more like the west coast than the midwest, in terms of being a seller’s market. While I can’t provide the specifics you need, I know home values have increased substantially, but just from driving around and reading the classifieds when I was last there, I know deals can still be found. And I don’t recall seeing many “I buy homes” type ads, so perhaps you won’t have much competition!
My sister works for one of the big insurance companies in Des Moines, and I know they are constantly transferring employees in and out of the area, so I’m sure you will find some motivated sellers.
Downtown has plenty of opportunities for rehabs and rentals, if that’s your thing. Unfortunately, there are areas of the city I wouldn’t go in now, which wasn’t the case when I lived there, but I guess that’s no different from most metro areas. At the other end of the spectrum, every trip I make, I find new houses where there were corn fields the year before…seriously! The 'burbs are expanding at a steady rate, as the population base continues to grow.
Good luck with your move…
Brian (NY)