Affordable housing in the Lincoln, NE real estate market is becoming a rare commodity. If you are a first-time buyer in the under $100,000 range who is using FHA/NIFA’s ABC2 program or NeighborWorks First Home program and only need $1,000 to get into a house, here’s the reality of Lincoln’s market: houses that are in good condition and in popular areas are going fairly quickly and we are seeing multiple offers.
There are lots of buyers trying to take advantage of the remaining timeline for the tax credit so keep in mind that you have plenty of competition from your fellow first-time buyers. So, what does this mean? Get focused and get focused fast on what is important.
Don’t be unrealistic in what you can buy for your money, there are no ‘deals’ to be snatched up as so many of those HGTV® shows would have you believe. This is Lincoln, Neb., and our market has remained pretty stable in unstable times. ESPECIALLY in the under $100,000 price range.
Don’t be looking at houses beyond your price range either. Sellers are not going to give away their houses. Once you fall in love with a house outside of your price range, it will be nearly impossible to find one within your price range that will compare. You are just setting yourself up for disappointment. And the seller who had to leave for the showing, well they did so in good faith that you are actually qualified to buy their house–it’s just not right.
Sellers are in the drivers seat in this price range. Don’t think you are going to offer someone $10,000-15,000 less than what a property is listed at and actually think you are going to get your offer accepted.
Be realistic and listen to your real estate professional.