It’s a Seller’s Market … really.

With all the talk about buyers, and the $8,000 tax credit, and the low interest rates, you might be surprised to learn that there’s truly a seller’s market in Lincoln today.

Consider this: the first-time buyers are indeed shopping, and they’re buying the homes that are ready to sell. What do those homes look like? They’re clean/updated/show-ready, and they’re priced correctly. Savvy sellers understand this, and they also understand the ‘back half’ of that equation. With their house now under contract to a first-time buyer, that seller now becomes a buyer, too. And while they can’t take advantage of the tax credit, their buying power is now increased with a low interest rate. And if they’re in a position to move up (buy something bigger/more expensive), they’ve got plenty of homes to choose from. And once again, the homes in those price ranges that are clean/updated/show-ready and priced right … are selling.

Sellers — would your current home be a good first house for a young buyer? If so, you’ve got an incredible opportunity. Will you take advantage of it?

It’s a Good Time to Buy

The economy might still be struggling, but there is one group of people who are definitely buying.

First-time home buyers are taking advantage of low interest rates and a big tax credit from the government.

This past february President Barack Obama signed an incentive in the form of an $8,000 tax credit for first time home buyers.

At this Lincoln Woods Bros Office, they’ve seen almost 100 people jump on this offer.

Chris Goforth and his girlfriend Stephanie recently purchased their home and said the credit was a main reason to go ahead with the purchase.

“At the time when we were looking it was the original stimulus package of $7500 but every little bit helps and that was defiantly something we were going to plan on using,” said Goforth.

There are some rules to follow if you want to receive the $8,000 credit. First, you must be a new home buyer or haven’t owned a home in past three years. Once you purchase the home, you must live there for three years and you can’t make more than $75,000 individually or $150,000 collectively.

“I think people need to know right now is a great time to be buying a home, especially for these first time home buyers, this is a great time to be getting into a home,” said Andrea Schneider, a Woods Bros Realtor. “There hasn’t been a better time probably in 40 years as far as opportunities go for first time home buyers.”

For the rest of the story from Channel 8 Eyewitness News, visit:

‘How’s business these days?’

Usually, when someone finds out that I work as a real estate agent, the first question they ask is: “How’s business these days?”

My quick answer is always, “Great!” (whether I’m busy or not, it’s a good answer to give because I enjoy being a Realtor).  However, when I’m asked that question these days,  I answer “Great” because home sales are picking up again. 

After a slow fall and long winter, things are coming to life at real estate offices and open houses across Lincoln. Much of that activity has to do with record low mortgage interest rates and the $8,000 tax credit being offered first-time homebuyers as part of the Obama administration’s economic stimulus plan. 

According to figures from the Midlands Multiple Listing Service (MLS), 196 single family homes priced below $200,000 sold in Lancaster County last month (March, 2009). That’s compared to 144 sales of similarly-priced homes in February, 2009, or an increase of 27 percent. So far, April looks to bring even better numbers.

Continue reading “‘How’s business these days?’”

Why NOW is a Great Time to Buy a Home

Excerpted from Strictly Business Magazine:

With all the talk about the economy these days, it’s easy to start assuming it’s only prudent to hunker down and ride out the storm, spending as little money as possible and making as few changes as possible. Many people have this knee-jerk reaction even if the supposed ‘bad economy’ isn’t affecting them personally. Even if their business is doing well, they have plenty of money in the bank and there is no trouble on the horizon, they assume things will get bad soon and so they alter their lifestyles. Unfortunately, this has been the case when it comes to the housing market. It seems that every time you turn on the television, you hear something about how bad the market is. This causes a general feeling of fear and people naturally start assuming they should not even consider buying or selling a home in this market. They often don’t even do any research or talk to professionals who can answer questions about the local market, they simply assume.

The truth is, the local housing market in Lincoln is not nearly as bad as the news would have you believe. In fact, it can be a very good market if you are in a position to buy. Consider the following information from the REALTORS Association of Lincoln:

What’s the NATIONAL weather for today?

Suppose you turned on the Weather Channel and were given only a national forecast for the day? You might find yourself dressing for Arizona instead of Nebraska!

Over the past year there has been some dreary news about the nation’s real estate market; yet, no single real estate market exists. Real estate is a local phenomenon, just like the weather.

Continue reading “Why NOW is a Great Time to Buy a Home”

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