Omaha Nebraska Real Estate Foreclosures
A recent report from a research firm stated that Nebraska had one of the lowest rates of foreclosures in the United States in 2011.
As an active real estate professional (Don Keeton www.TourOmahaHouses.com )with RE/MAX The Producers (www.TourOmahaHomes.com ) I found this to be true in Omaha. Yes we have some foreclosures, but not that many especially when come to upper scale homes. As a real estate expert in the Omaha, Millard, Elkhorn and Papillion areas I continue to monitor real estate sales activity. The bulk of our real estate sales activity is in Douglas and Sarpy county.
Approximately one percent of Nebraska homes were in the foreclosure process by the end of 2011 which is the fourth lowest rate in the United States. The national foreclosure rate was 3.4 percent by the end of 2011 because 1.4 million homes were in the foreclosure process.
Omaha Nebraska likely has the highest percentage of foreclosures because we have the largest population and real estate inventory, but our market is reasonably strong and offers many great buys.
The Omaha real estate market is relatively strong for those selling homes that are clean, well maintained and priced accurately. If you're thinking of buying your first home, moving up, or wanting to downsize now is a great time to jump off the fence. Many of my recent clients have enjoyed the benefits of a low interest rate, and the decline of home prices. When helping sellers I encourage them not to price their home more than 3% above the Market Value.
When my wife Valerie returns home from showing homes in the $250,000.00 to $300,000.00 she always comes home with a new home she loves. Our current home is worth over $600,000.00 and we regularly talk about selling and downsizing, this just might be the year.
Foreclosures will continue to grow and prices will likely continue to drop, but not as quickly as previous years. If you have any real estate questions or wish to contact me please feel free to email donkeeton@remax.net .
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