Client Love Story: Invest DSM
I love Des Moines, I love my clients and I love nothing more than when the two meet in serendipitous ways. DSM invests in its neighborhoods and housing stock in a way other communities don’t, trust me, I worked in housing and economic development at Iowa State University as an extension economist for years and have seen what the alternatives are. Des Moines has one of the most intelligent development plans to simultaneously provide affordable housing, improve neighborhoods and provide a strong foundation for economic growth. It is called Invest DSM and it is changing lives.
This truly is a story about my amazing clients J&S. These adventurous, delightful humans are always looking for new opportunities. They said yes to the chance to own a historic home near Drake and withness the rehabilitation from the studs up to the wild child combo of historic charm and new construction.
Here’s the financial amazingness, they are buying a home for more than $100,000 less than the carrying cost the builder has in it. And they get a tax abatement.
ETERNAL LOVE IN THE STUDS
LEFT A TIME CAPSULE
The reason for this success story and this financial win for my clients is Invest DSM and their incentives for developers to ensure that they are made whole when they rehabilitate a home to code and current market demand. Essentially, DSM is subsidizing good housing with incentives for the supply side! How cool is that? It’s good economics, good for our community and good for affordable housing.
The first page photo is from a walkthrough in the planning stages with the developer and his team. The team encouraged my clients to leave their mark in the studs and showed
us their contribution to the time capsule before drywall- a dinosaur to confound future generations.
Market Update-NAR Settlement
If you have spoken to me in the last few weeks or follow me on social media, you are probably aware that I’m actively discussing this. If you aren’t aware of what NAR is or why they settled, trust me when I say it matters. Call me with questions, and if you want the lowdown on how this might impact housing prices, here is my take.
Thank you for your trust, friendship and referrals.
With Breath and Gratitude,
Megan
