Rising Latino Population in Iowa
There has been a six-fold increase in the Latino population in Iowa to 182, since 1990, says The Des Moines Register. The rising Latino population in Iowa is expected to grow to nearly 450,000 in the next 30 years, more than doubling from 5.7 percent to nearly 13 percent of Iowa’s population.
By 2050, Latinos are projected to make up a fifth of the population of Polk County, Iowa’s largest county, and extend their growth across much of the state. Today, Latinos make up 10 percent or more of the population in just 11 counties. By 2050, the number is projected to be 31 counties, nearly a third of Iowa’s 99 counties.
The rising Latino population in Iowa has revived a lot of communities,” said Jeff Schott, director of the Institute of Public Affairs at the University of Iowa. “But the first few years are tough. A lot of them don’t have much ethnic diversity of any kind.”
Neil Terc at INMAN penned the 10 Home Buying Secrets for Hispanics. Neil Terc is the president and founder of Yourcasa.com and SuCasa.com two sites that focus on the Hispanic community. Terc says the rising Latino population in Iowa forms a community made up of hard-working and law-abiding citizens looking for ways to live the American dream.
- Hispanics in the U.S. account for 40 percent of the household growth, and 672,000 Hispanic households rent and can buy a home
- The Urban Institute projects that in the next five years, Hispanics will account for5 percent of new homeowners alone
The Rising Latino Population in Iowa requires some knowledge by realtors of Latino needs.
The 10 Home Buying Secrets for Hispanics sound a lot like our advice, only with some different shadings. Maybe, it is the translation.
Secret # 10: Keep your money where it is. “It is advisable to make no big purchases or move from one side to another three to six months before buying a new home.” We would say don’t buy a new car before seeking approval to buy a house.
Secret # 9: Get a Pre-Approval . “There is a big difference between a pre-qualified buyer and a buyer who has a pre-approved mortgage.” Pre-approval gives you valuable information on how much house you can buy
Secret # 8: Avoid barriers dispute , “It is absolutely essential for a survey on your property, so you know exactly what you are buying.” We call barriers property lines, and this may be more critical outside the U.S. Still a good idea.
Secret # 7: Do not guess Market – “Do not obsess over trying to calculate and find out the best time to buy on the market.” In other words, if you find your dream house in your price range, don’t entertain the idea that it would be a better price during the slow season. I would add don’t try to guess the direction of interest rates to buy a bigger house.
Secret # 6: Bigger is not always better – “Sometimes it is best to buy the worst house on the block because the worst house per square foot than ever negotiated by the larger house.” Translated this means if you compare price based on square feet, you are comparing like properties. Maybe the house just needs updating, and it will be worth as much as the other house.
More home buying secrets
Secret # 5: Avoid unanticipated costs – Most people just concentrate on your mortgage payment but also need to be aware of other expenses such as property taxes, utilities, HOA fees, repairs, maintenance.
Secret # 4: You are buying a house – “…not going out on dates with her. Buying a home based on emotion only gonna break your heart.” We agree.
Secret # 3: Give your home inspection – “Hire a home inspector. It will cost around $200, but could end up saving thousands of dollars.” This inspector works for you and can often help you avoid big problems and may help you negotiate a better price.
Secret # 2: The Secret Science of tenders – “You should base your initial offer on two things: what you can afford (because you do not want to make the best of yourself), and what they believe the property is worth. Make your initial bid on something that is fair and reasonable and not going to offend the seller.” This is interesting to us. We know that buyers would rather not make a low-ball offer for fear of offending the seller. Instead, they don’t make an offer at all.
“Also, see if the neighbors have plans to put on a new addition or add a basketball or tennis court, which could decrease property values along the way.” Nothing worse than hearing a basketball bouncing on the pavement when you are trying to sleep.
“Today, many vendors are behind on their property taxes if you have valuable information that gives a great card to negotiate a good deal. To find out, you can go to the county clerk’s office.” Nothing wrong with getting an advantage in negotiations.
Finally:
Secret # 1: Describe the neighborhood before buying – Visit the neighborhood – visit at noon, morning and night. Many home buyers have become completely upset because they thought they had found the perfect home, only to find that the neighborhood was not for them.
Harmony Property Solutions, LLC is here to help homeowners out of any distressed situation.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple, truth about your home and how we pay cash for houses Cedar Rapids.
Harmony Property Solutions, LLC is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help, and we can do it quickly!
Give us a call today at 319-343-6773 to let us know how we can help YOU.