I suspect Zillow is one of the frequent go-to sites for real estate companies Omaha. There you can see a chart going back to 2006 that shows the median sale price for homes has risen to new highs: $183,000. That price beats the high in November 2011 of $168,000 and a big improvement from the low in 2008 of $126,000.
However, Zillow also shows the number of home in foreclosure or pre-foreclosure has almost doubled since January 2015 to 357 homes.
Styl Properties, Inc. is one of the real estate companies Omaha. I want to use this blog or forum to bring you information about real estate in general and real estate specifically for residents of Omaha. I am a real estate investor. I am in business to help homeowners out of just about any situation, no matter what! I am also able to help potential homebuyers find their dream home. There are no fees, up-front costs, commissions, or anything else. Just the simple honest truth about your home and how I can help you sell it fast to resolve any situation.
Already, I have used a term that needs clarification – median. I see this term used all the time. For example Zillow tells us, “The median home value in Omaha is $136,600. Omaha home values have gone up 5.7% over the past year and Zillow predicts they will rise 3.9% within the next year.”
We talk about housing prices using “average” and “median.” What’s the difference?
Judy Hedding at About.com wrote an article explaining the difference. First, let’s show how the median price is arrived at
Here are 11 fictional home prices.
The median price of these 11 homes is $105,000. Five homes were lower priced and five homes were higher priced. The median, really is the middle value; 50% of values are above it, and 50% below it. So when the data is not symmetrical, this is the form of ‘average’ that gives a better idea of any general tendency in the data.
The average price of these 11 homes is $498,000. That’s what you get if you add up all those prices and divide by 11.
If you are searching for a house and you see that the average price of a house is $498,000, you night sigh and think a house is out of your budget. Or if you read that the median house price is $105,000, you might think, “Wow, 50% of the houses are in our price range. It’s a great time to buy a house.
Another term I used is foreclosure. I will explore foreclosure and how to avoid foreclosure. I will also explore bankruptcy, probate as it relates to inheriting a house, how to move when you have children, how to take care of elderly parents when they are unable to live alone, estate sales, and how to sell a house quickly in Omaha.
I am Styl Properties, Inc., one of many real estate companies Omaha. Styl Properties, Inc.is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. Styl Properties, Inc. may not be the “traditional” route, but we CAN help and we can do it quickly.
My name is Shawn. Give me a call today at 402.909.0608 to let me know what YOU need help with!