Real Estate Market Ooty

Best first quarter for the local trading company in five years, now turned into the best first half since 2007.

The figures from the Realtors Association of Lincoln has shown that it was the end of June 2003 home sales through the local Multiple Listing Service.

That's 25 percent higher than homes sold during the same period in 2011 and most since 2007, not only in the first six months of 2010, as led by a federal home-purchase tax credit into a buying frenzy.

Real Estate Ooty

"Real Estate Market in Lincoln will be strong," said Nicole Jensen, executive vice president of the local Association of Realtors .


And there are no signs of abating.

Completed sales by more than 20 percent in July compared to last year increased, while sales rose by the end of the month by 20 percent over the previous year, the Association of Realtors figures show.

Rich Rodenburg, co-owner sales of Nebraska home, he said, is generally willing to slow down in late summer to walk the kids to school - but not this year.

"We certainly see is a great activity," he said.

Rodenburg said he could not predict what will happen in the third quarter and by the end of the year, but he said that, even if sales slow down some of it is still "spectacular" year.

The sales are not the only thing he is impressive this year.

Prices continue to rise, with an average selling price of the end of July to more than 6 percent over the same period in 2011.

The median price of existing homes, which was represented the middle of the sales price $ 129,000, a record for that category in the first six months of this year.

"I think we've turned the corner house on the values," says Rodenburg.

Ooty Properties

Another aspect of the market that seems to have is around the corner, sales of new homes.

After going through some of the worst in recent history, building owners are finally beginning to see light at the end of the tunnel .

There were 246 new housing units by the local MLS in the first six months of selling, selling a huge improvement compared to 159 during the same period last year, and the highest rate since 2008.

"There will always be stronger," said Dan Small, Sr., owner of Regal Building Systems and president of the Association of Home Builders of Lincoln. "There is still a long way from where we were five, six, seven years ago."

Terry force agreed, but said that the market is too far from where it was a few years ago, when sales hit lows not seen new homes over ten years.

"It was great," said Kraft principal real estate broker. "I've been doing this for 20 years, and in the past year and a half was really good."

Force works exclusively with a local contractor, Mark Lewis, the force went into the creation of so-called "spec" homes, homes that are not presold.

Spec houses were common in the early 2000s, but built in the last two or three years ago, most builders have homes only to provide a model to show potential customers.

"We have 23 homes under construction right now, and six or seven features," said Kraft.

He said that many of the requirements of the building houses the company filed to sell before they are completed.

Just as in the secondary market, new home sales show no signs of slowing down.

Building permits for single family homes, including townhouses, located in the five-year high in the first six months of the year, and the number of building permits taken in July was the highest in a month since May 2008.

"It's a good time," said Kraft.