Professional Realty Group (PRG) of Woods Bros Realty (www.prg-ne.com) is led by experienced REALTORs Ben and Andrea Bleicher. Here is their expert advice for buyers and sellers based on the housing marketing in Lincoln.
The current housing market in Lincoln and surrounding areas is seeing incredible highs and lows for the first quarter in 2021, and we’re anticipating things will get even better as second and third quarter are likely to continue upward trends and records! The highs we mention are the numbers sellers are fetching for their homes, and the lows are the historically low interest rates/ultra-low inventory. This means there’s great reason to sell, buy, or both! While there can be hurdles doing any of those things in a market like this, we have methods for achieving success on either side of the equation. Professional Realty Group (PRG) of Woods Bros is here to help!
For the Sellers
Sellers likely have more equity in their homes than they can imagine. Inflation has been mostly driven by a lack of inventory plus heaps of buyers hoping to take advantage of the great interest rates. Many sellers not only get over-asking offers but unbelievable terms to boot. With the help of PRG, we can ensure you get the absolute most profit possible, easiest terms, and a seamless transaction that will leave you smiling all the way to the bank! Since the market can change at any time, we encourage you reach out sooner than later (even if it is still winter) and have us do a CMA (comparable market analysis) on your home. This will uncover what it’s worth, how quickly it should sell, and gives an opportunity for us to analyze the condition of your home/make recommendations should any repairs need completed prior to listing.
For the Buyers
Buyers have more purchase power than they’ve had in prior years because of the ridiculously low interest rates. Simple math tells us that if you have a budget of $1,500/month that the difference between 3.75% and 2.75% is very impactful. A buyer may be able to afford a home worth tens of thousands more, for the same price with a lower rate. Already this year we’ve seen mortgage interest rates in the 2–3% range, and even some under 2% with modified terms like shorter mortgages/buying down the rates. Not taking advantage of these rates seems crazy even if you’re just doing a refinance, so we are encouraging you talk to your lender, or have one of our lenders reach out. Buyers who also have homes to sell may feel intimidated and have concerns with selling high, just to buy high. We have tools that can show you whether it’s a smart move to do so, but for most scenarios, it definitely makes sense to grab the equity that’s in your existing home. Many times, we’re seeing sellers buy a home that is larger/more expensive than the one they bought just five years ago and keeping payments the same or less.
MEET THE TEAM
The PRG Team specializes in all areas of real estate, including: residential, commercial, development, industrial, leasing, investments, and more. We would be honored to assist you, and hope you have an amazing 2021!