Lincoln housing market makes a turn for the better
It was a housing market frenzy just a few months ago with homes getting snatched up within hours and lots of buyers being forced to make some tough and risky decisions.
LINCOLN, Neb. (KLKN) –It was a housing market frenzy just a few months ago with homes getting snatched up within hours and lots of buyers being forced to make some tough and risky decisions.
“One of the terms that would be tossed out to be more competitive earlier this spring was to waive inspections. So, they were just buying the house as is, not doing an inspection, you just get what you get. That was a little scary,” Melanie Dawkins, with Red Door Realty, said.
The Lincoln housing market has turned the corner and things are looking up for buyers and sellers.
Dawkins says it’s technically still a sellers market but things have slowed down substantially and given everyone more time to think about their decisions.
“Right now, I can say we’re gonna go look at a handful of these. You can think about them overnight, let’s talk about it tomorrow and see what you think of it. That’s a lot better for making such an amazingly huge decision. This is the most expensive purchase you’ll ever make,” Dawkins said.
Mortgage rates are still good, on average, a 30 year fixed is a little over 3.3%. A 15 year? Less than 2.5%. With more options for buyers, Dawkins says if you’re looking to buy, now is the time.