We’re about mid-August right now, and market conditions are good. It’s not like what it was in the spring, but it’s still solid. I want to provide a realistic perspective on who should buy right now. Most real estate agents say “ Everybody should buy at anytime!” I understand their enthusiasm, but there really are certain times that are better for certain groups of people.
Here in Omaha, realistically, who should be making a move the most? Here’s who I believe:
1.First time home buyers: You are in such a better position than what you were in this spring. The interest rates are solid, hovering around 4%, but you’re not necessarily going to have to pay full price or $10,000 above asking on a $150,000 home.I can’t tell you how many times I saw people making a bid of $5,000-$10,000 OVER asking price and STILL not getting them. Those days are gone, for now, until next March. If you’ve been thinking about making a move into a home and haven’t done it yet, you have 3% to put down, you should do it now!
2.Upgrading to a 2 Story: Generally speaking, lots of families like to move over the spring and summer so they can be settled into their next house by fall time. So 2 stories are popular on the market for the spring and summer and to go full price or over asking. During the fall and winter the 2 stories that are put on the market a lot of times are people that NEED to move, not always, but its more likely that they have to move due to death, divorce, or relocation. Generally speaking, you are going to get a good value! You really are. There are so many families that come to me in the spring that I can barely keep up! What ends up happening is that you are going to be selling for top dollar — but you’ll also be paying top dollar in the spring.Fall/winter is a phenomenal time to get into your 2 story.
3. People Who Own Ranches: Ranches are the highest dollar per square foot style of home and are season-less. if you’ve been thinking about it, you’ll still get a healthy price no matter what season you decided to move.
There are about 2,500 homes on the market, there is more selection than what we saw in the spring (we had about 1,800-2,100 homes on the market). Interest rates are good, it’s a healthy market, so get in the game!
Watch it here: https://www.youtube.com/watch?v=ZQQ6iMkW_us