Omaha Tries To Shake Off Buyer's Market
by Blanche Evans
Omaha, Nebraska is the scene of a lot of new business, which has kept the housing market moving despite a general economic slowdown elsewhere, but Realtors differ on whether they are still fighting a buyer's market out there. "Omaha is the hub of the Omaha Metro area and is the business center of Nebraska," says Realtor Gary Baumert. "There are numerous activities in the area to fulfill most, if not all, of an individual's or family's interest. There is a considerable amount of new commercial and residential construction in the Metro area, driven by the arrival and development of many new businesses. The school systems are excellent and there are many choices for continuing education as well as institutes of higher education within the boundaries of Omaha." He says, "The demand for higher end residential homes has slowed slightly, but homes in the price range below $250,000 are still moving at a good pace. There is a demand for larger lots with larger homes that is not currently being met, but a couple of developments are in the approval process to try to remedy that end of the market." "We continue to be in a buyer's market," says Realtor Kathryn Rouch. "Market time for low to medium-priced homes now averages 60-90 days instead of the previous 30-60. Higher priced homes is much longer. Sellers must be competitive in their pricing and expect a longer market time. Marketing exposure is very important. Rouch advises, "A significant Internet presence with updated search engine submissions is key. Websites must maximize exposure with multiple photos and virtual tours. I also feel that a diverse marketing plan is key to reaching all potential buyers. This includes (in addition to the internet) print advertising in the form of newspapers, magazines and flyers, television exposure, and real estate company intra-office marketing vehicles." Agree Realtors Judy and Dave Smith, "In Omaha it is a buyer's market. If you are thinking of buying a home within the next year, you may want to do it now because interest rates will rise. Don't miss this window of opportunity. Sellers need to be competitive when pricing their homes. If they are too high, buyers are not paying much attention. Buyers, there are some good values to be found. The best way to find these good values is to obtain a Realtor you trust and let them help you locate the homes you should view. Remember, it does not cost the buyer to use a buyer's agent. They are paid by a split in the commission that is promised by the seller when they list the house. If you see a home you're interested in buying, don't wait! The Internet is the way most homes are located to purchase." |
