How Things Have Changed

Watch on your mobile device >>

The real estate market is changing quickly. We’re committed to keeping you up to date on all of these changes—and what they mean to you.  Here’s what’s happening in our market.

A few years ago, there was a plethora of lots available in the city, but that’s no longer the case. We’re just not seeing the bulldozers out preparing land for new neighborhoods, so lots have become scarce. In fact, we’ve seen lot prices increase in the past couple months by as much as $10,000. Home prices were at an all-time low for both existing and new construction, but now that we’ve moved into 2013, the market has suddenly exploded—and everything is going up.

Top off lot prices increasing with new construction costs going up, and it’s smart to buy sooner rather than later. The U.S. Census Bureau tracks the cost of construction, which has been going up by 2.8% annually over the past 20 years.  If you wait just one year to build a new home, you could easily pay an extra $5,000 to $6,000 on a $200,000 home. Ouch!    

Remember that mortgage loan rates are still fantastic, which makes buying a home more affordable than ever.  A 30-year fixed-rate mortgage hovered at record-low rates during 2012, but the rates won’t last forever, so there’s not a better time to buy than now.

Prices of existing homes are also increasing. This is great news for our customers because most of them usually have a home to sell. What we’re seeing now is that people are selling their homes for full price in a week or two, but you have to have a great strategy to make that occur. Inventory is also at an all-time low.

Remember now is the time. If you get off the fence, you can sell your existing home quickly, get a great deal on a new house and lot, nail down a fantastic interest rate and, ultimately, save a lot of money.

Come out to see our new models in Pebblebrooke at 174th and Highway 370 and our models in Saddlebrook at 150th and Fort.  You can also contact us  by calling Pebblebrooke at (402) 502-5600 and Saddlebrook at (402) 934-2212.