March Home Madness is Back!

While things are heating up on the court this month, they’re also heating up in your backyard, your front yard, and even your side yard! That’s right, March Home Madness is back and according to our Urban Acres team, the spring real estate season is gearing up for a strong start. 

We know that not everyone is in the market this spring, but that doesn’t mean there’s not plenty to be excited about. This month, while we’re sharing our best tips to navigate your real estate needs, we’re also spreading the love through a series of giveaways (stick around to find out what’s on the horizon). For the Urban Acres Team, March Home Madness is about much more than a warming market. It’s a month filled with teamwork—something we take so seriously that it’s built into our core as an independent, agent-owned company.

Cutthroat competition isn’t our style. We aren’t afraid to play point but we also know how to lean into our deep bench or lead with an impactful assist.  At Urban Acres, what makes us different is that we’re all playing from the same bench. When you decide to work with an Urban Acres agent, you’re not just getting one of us; you’re getting all of us. Our team is stacked with expert agents, residential and commercial builders and developers, certified negotiators, interior designers, and everything in between. That’s what makes us equipped for anything. 

Don’t get us wrong, buying or selling a home isn’t all fun and games, but with the right game plan and the right team members, the process can be enjoyable and less stressful. At Urban Acres, we enter each transaction with a solid game plan that involves huddling with you to ensure we understand your goals. Then we lean into the many resources we have at our fingertips to pull from our team’s unique skills and specialties to execute the plan. 

Our camaraderie extends outside of work. You’ll see us volunteering at the food bank, bagging popcorn at high school games, raising money for arts and culture organizations, coaching little league, riding bikes to support causes, and so much more.  Our team bond is stronger because of our shared knowledge and support of our communities. All of our REALTORS® and support staff call the Iowa City-Cedar Rapids Corridor home, so when you work with us or move into the area, it’s not uncommon for you to become a friend or simply our newest neighbor. 

March Home Madness Giveaways

Throughout March, in addition to giving you tips to help you prepare for a hot spring housing market, we’ll be hosting one giveaway each week to celebrate any and all types of teamwork. That’s because we know teams look different for each and every person. Your team might be your closest family and friends, your intramural softball or little league baseball team, your alumni marching band squad, your high school debate team, or your 5 a.m. fitness posse. 

So, while our team is suiting up for the spring market you and your team can too! Here’s what you have to look forward to from Urban Acres in March: 

• • Monday, March 4 – $150 to Scheels for backyard games
    We know quality time is the best way for teams to build rapport, communication skills, and bond! There’s no better way to get to know someone than by learning how they communicate during the heat of competition. We’re kicking off the month by giving away a $150 gift card to Scheels so you can build the ultimate backyard games set up for your friends and family.

• • Monday, March 11 – $150 Gift Card to The Iowa Athletic Club
    Need to fuel up for the big game? We’re giving away a $150 gift card to The Iowa Athletic Club for you and your team! We love the way the IAC pays homage to the rich and storied sporting culture of Iowa through the retro Iowan sports memorabilia that lines the walls. Next to the Xtream Arena and a quick drive to Carver, the IAC is the place to be before, during, or after the game. Plus, with the longest bar in Iowa, there’s no shortage of space to spread the love for your favorite team. As The IAC reminds us, “The Game is Meant to be Fun!”

• • Monday, March 18 – Wig & Pen Pizza Party for a team
    Working together allows you to combine talents for a common goal, enhance problem-solving skills, boost productivity and creativity, and more. What’s not to love? Simply put, teamwork deserves to be celebrated. That’s why we want to give one special team a pizza party because every team needs a little time to play!

• • Monday, March 25 – Signed Ball from the University of Iowa Women’s Basketball Coaches and the Whole Team!
    In addition to being huge Hawkeye fans, we know if there’s anyone who knows how to lead a team to a common goal, it’s the Iowa Hawkeyes Women’s Basketball coaches. For our final giveaway of March Home Madness, we’re giving away a basketball signed by your Iowa Hawkeyes!

To enter the giveaways, be sure to follow Urban Acres Real Estate on Facebook and Instagram and check in each Monday for the giveaways to go live! Once each giveaway is posted, entries will be accepted until 11:59 PM the following Sunday, and a winner will be chosen and messaged the next day. To enter the Signed Ball Giveaway you can also go here. (Pro Tip: Make sure everyone on your team enters to better your chances!)

Aside from our upcoming prizes and tips, there’s also plenty to look forward to in the local housing market.

Spring Market Is Ready for Tip-Off

Springtime is notoriously the hottest time of year for real estate, with buyers looking to be settled in a new home by the summer, and sellers ready to prepare their home for sale after the harsher winter months. 

After years of an increasingly volatile market, it seems like prospective buyers and sellers may start to see some respite this year, even with a hot spring market on the horizon. We asked our team to weigh in with their predictions on how the market will progress. Here’s what they said.

Cathy Pugh, REALTOR®
Sellers who have been waiting on the sidelines will explore the market this year. The low-interest mortgages that have discouraged moving will eventually be displaced by the need to move for jobs or life changes. I think the biggest growth segment of the market will be baby boomers downsizing their larger homes to smaller, more manageable ones.

More home buyers will also enter the race. Last year’s rapid increase in interest rates coupled with the increase in home prices cooled the market pretty rapidly as many buyers were discouraged by how far their housing dollar would go.  It seems that expectations have been recalibrated. After interest rates peaked near 8% last Fall, more buyers are considering the investment in homeownership as the rates creep closer to 6%.

Home prices will maintain the gains in value. The low inventory will insulate the increased equity that homeowners have accumulated in the past 4 years. While I don’t see home prices retreating, I do think that home values will stabilize as the market becomes more robust this year.

Jan Crosby, REALTOR®
We are already seeing increased inventory for the spring housing market. The warmer weather has sellers preparing their homes for sale—both interior and exterior. With the forecasted lower interest rates, buyers are re-entering the market. The largest group of buyers in our area are currently tenants with leases expiring in the upcoming months. Forecasters are now saying we may see interest rates in the upper 5s by the end of 2024.

Tricia Van Roekel, REALTOR®
I’ve spoken to other REALTORS® and many lenders and feel overall very positive about this year’s market! Everyone agrees, that if mortgage rates were to drop to the mid-5s, it would benefit everyone! Regardless, there is some great, new construction inventory. Plus with the warmer weather, we can expect a flood of homes coming on the market in early March. I am looking forward to a great year!

Robin Sueppel, REALTOR®
With early warmer weather and longer days, demands will surge, offering ample opportunities for both buyers and sellers. The biggest concern again this year will be the supply of homes.

Whitney Russell, REALTOR®
The weather and stable interest rates are going to bring out more buyers. Buyers certainly aren’t as desperate as they were in years past so putting your home in tip-top shape and pricing it right will be super important. The cost of homes will continue to go up so buying now is the way to go. Sellers will have a leg up since inventory is still terribly low!

Do you have questions about the spring market we haven’t answered? Or maybe you’re looking for tips on how to start your real estate investment journey. Or even you’re a first-time buyer entering the market looking for guidance. Good news, we’ve got your back.

In March, we’re hosting two seminars alongside GreenState Credit Union, designed to demystify the home buying process. We’ll cover everything from financing options to navigating the market, so we can help you make informed decisions based on your real estate goals.

Demystify the Home Buying Experience | Informational Event with Lenders and REALTORS®
When: Wednesday, March 20 at 6:00 PM and Saturday, March 23 at 10:00 AM
Where: Urban Acres Real Estate at 250 Holiday Rd, Coralville, IA 52241
RSVP: https://fb.me/e/1UhLTC9HY

Build Your Winning Team

Just like any other team, we understand the steps to success. Throughout any transaction, we hang our hats on being well prepared, keeping each other accountable, and communicative, so you know you’re in the best of hands.

Whether you’re looking to buy or sell in a hot housing market, let us be your guide! The ball is in your court. Find the Urban Acres agent that’s right for you by exploring our agent page.