No hiss from the housing balloon to scatter buyers in the parade to Omaha for jobs says the Omaha World-Herald. “Coming off another record-busting home sales year, the question becomes: Can the Omaha area continue the robust housing activity?” A look in the mirror shows sales on a six-year climb? If you have in mind a house in Omaha, the shortage of houses for sale is real.
“CBSHome Real Estate’s Bill Black put the ongoing scarcity into these terms: “You might say that means it’s 100 degrees out and there’s only one air conditioner for sale.”
“With nearly two months of 2017 to help gauge, people in the real estate industry say home-buyer interest is great enough to yield year-end results at least as good as last year’s.”.
“Most said they’d wager on an even better outcome if the metro area weren’t facing an inventory so tight that Omaha landed on a list of 10 U.S. cities with the biggest shortages of homes for sale.”
Let’s review some things that will help you compete with eager buyers.
5 tips in another record-busting home sales year
One of the first tips of the 8 tips for the first time home buyer is get pre-qualified. You will want to talk to different lenders and see who offers the best rates and terms, and also lowest fees and costs. Lender fees can vary quite a bit from one to the next.
Pre-qualified is not the same as pre-approved – With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level.
Get professional help – One of our 8 tips for first time home buyers is find a realtor you can trust. Yes, you have unprecedented internet access to sellers’ information, but a realtor has years of experience that can help you with everything from the area, the appraising of a dwelling, the paperwork, the comparisons, and negotiation on price.
Make an Offer – Your real estate agent will help you decide how much money you want to offer for the house along with any conditions you want to ask for, like having the buyer pay for your closing costs. Your agent will then present the offer to the seller’s agent.
If you reach an agreement, you’ll make a good-faith deposit and the process then transitions into escrow. Escrow is a short period (often about 30 days) where the seller takes the house off the market with the contractual expectation that you will buy the house – provided you don’t find any serious problems with it when you inspect it.
3 more tips in another record-busting home sales year
Always hire a home inspector – In our list of are 8 tips for first time home buyers, you should hire your home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.”
Beware of sleeper costs – Comparing the monthly mortgage payments to paying rent is only part of the story. The bank may require property taxes and insurance to be part of the monthly mortgage payment.
Read the papers. That is the last of our 8 tips for first time home buyers. Make sure you understand your obligations. If you feel insecure, hire a real estate attorney. Buying a home is the biggest purchase you may ever make. Do it the right way.
Styl Properties, Inc. is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 402.999.0577 to let us know how we can help YOU.