Omaha Home Buyers - How To Get A Good Deal
Home buyers in Omaha are looking for good deals on Omaha Real Estate and with the low inventory of homes for sale, it can be a little challenging to find it. Home buyers are now competing for homes many are surprised to find out there is at least one other offer on the home they want.
Omaha foreclosures are also down from a year ago. There are still great foreclosure homes out there, just expect to pay market value. Banks are waiting to get to the best price for the home.
Omaha's foreclosure housing trend for months has been - if the home is worth $100K fixed up and needs $20K in work, the banks are waiting to get their $80K sale price. It doesn't leave much room for sweat equity for investors but for a handy owner occupant, you can still get a good deal.
The best real estate deals out there right now are on short sales. A short sale is when the home owner owes more for the home than they can sell on the open market. Because they are "short on funds" to close, the mortgage holder, has to also approve the sale of the home.
Did you know that banks will typically sell a short sale for 87% of the value of the home? Owner occupied homes for sale in Omaha are selling on average for 97% of list price. To get a home for 87% is incredible! Omaha short sales aren't for every home buyer. The down side is it can take about 2 to get a response from the bank to find out if they will accept your offer, reject it or give you a counter offer.
If you can be flexible on your close date, maybe a short sale in Omaha would get you into a better home than you thought you could afford. Call me so we can determine if a short sale is right for you.
Click here to search all foreclosure & short sale homes for sale in Omaha and the surrounding area.
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