Nebraska Real Estate Market Report – September 2024

Nebraska Real Estate Market Report – September 2024

The Nebraska real estate market continues to show robust activity, with a diverse range of opportunities for buyers, sellers, and investors alike. This month’s market report offers valuable insights into key areas, including Kimball, Scottsbluff, Douglas County, and Sarpy County, with a focus on the trends shaping single-family residential home sales.

Kimball, Nebraska: A Market for Affordable Homes
Kimball’s real estate market is trending toward affordability, with 10 new listings in September priced at an average of $123,000—significantly lower than the overall active listing average of $224,839. While only 3 homes sold, the longer average closing time of 189 days highlights the potential for buyers to negotiate favorable deals. For investors, this may signal a unique opportunity to enter a market where home prices remain competitive, but demand is steadily growing.

Scottsbluff, Nebraska: Balanced Market Dynamics
In Scottsbluff, 18 new listings were added to the market in September, with an average listing price of $241,921. The overall inventory of 52 active listings averages $290,598, reflecting a varied price range for potential buyers. 14 homes sold in the month, with an average closing price of $235,571. Homes are taking an average of 103 days to close, indicating that while the market remains active, the buying process is methodical. Brokers should note the steady influx of new listings and stable sales prices, making this a solid market for long-term investment strategies.

Douglas County, Omaha: A High-Demand Market
Douglas County experienced significant market activity in September, with 850 new listings hitting the market. These listings averaged $370,297, which is below the overall average listing price of $485,556 for the 1,153 active listings. This shift toward moderately priced homes is attracting buyers, as evidenced by the 428 homes sold with an average sale price of $365,014. Notably, the average time to close was just 16 days, signaling a fast-moving market. For brokers, this is an indication that homes priced competitively are being quickly absorbed, making it an excellent market for sellers looking for a swift transaction.

Sarpy County, Omaha: Steady and Competitive
Sarpy County is another market showing strong demand, with 383 new listings entering in September, averaging $399,945. These homes are priced below the $482,372 average of the 624 active listings, offering buyers more options in a competitive price range. With 192 homes sold in the month, and an average closing time of 21 days, Sarpy County remains a hot market for both buyers and sellers. Investors should take note of the quick turnover and competitive pricing, indicating a strong market for reasonably priced properties.

What Does This Mean for Brokers?
Brokers operating in these Nebraska markets should prepare for continued activity in both the entry-level and mid-tier price ranges. Sellers are seeing success with competitively priced homes, particularly in Douglas and Sarpy Counties, where quick closings and high demand are driving fast transactions. On the other hand, Kimball and Scottsbluff offer more affordable listings, catering to buyers and investors looking for long-term potential.

We recommend reaching out to clients who may be considering listing their properties, as these market conditions favor sellers who are prepared to price competitively. For buyers and investors, the current pricing trends offer a range of opportunities to find value, particularly in markets like Kimball and Scottsbluff.

If you have any questions or would like more detailed data on these market trends, don’t hesitate to contact our team. We’re here to support your success in these dynamic real estate markets.

Stay Connected
Want more insights like these? Subscribe to our newsletter or schedule a consultation to discuss how you can maximize opportunities in Nebraska's evolving real estate market.

#NebraskaRealEstate #MarketReport #DouglasCounty #SarpyCounty #Scottsbluff #Kimball #RealEstateBrokers #InvestingInNebraska

Interest Rates Slashed by 50 Basis Points: Economic Impact and Market Reactions

Interest Rates Slashed by 50 Basis Points: How September 2024's Real Estate Trends Are Shifting

In September 2024, the real estate market is experiencing a major shift as interest rates were recently slashed by 50 basis points. This reduction is sparking renewed excitement in the housing market, especially in the wake of elevated rates over the past few years. Both buyers and sellers are eager to see how this rate cut will influence market dynamics, affordability, and long-term real estate investment.

Why Interest Rates Matter

Interest rates significantly impact the real estate market because they directly affect mortgage rates, the cost of borrowing, and, by extension, home affordability. When rates rise, borrowing becomes more expensive, causing demand to soften. Conversely, a drop in rates, like the recent 50 basis point cut, typically stimulates buyer demand as borrowing becomes more affordable.

The September 2024 Market in Context

The U.S. housing market in 2024 has been a rollercoaster. Coming off the back of higher interest rates through 2022 and 2023, many potential homebuyers were priced out, and sellers held off listing their properties in hopes of more favorable conditions. As a result, inventory levels remained tight, leading to slower market activity and home price stagnation in some regions.

The September rate cut, however, has many wondering if we’re about to see a reversal of those trends. Here’s what the current trends and economic indicators suggest:

Boost to Buyer Affordability

One of the immediate impacts of the interest rate cut is improved affordability for buyers. Mortgage rates, which had hovered around 7% throughout the year, are likely to see reductions, bringing relief to homebuyers who had been waiting on the sidelines. A 50 basis point cut could reduce monthly mortgage payments by hundreds of dollars, depending on the loan size, making homeownership more accessible to a broader range of buyers.

First-time homebuyers, in particular, stand to benefit from this rate cut. With the potential for lower monthly payments, many young buyers who had previously delayed entering the market due to high borrowing costs may now reconsider, boosting demand in lower and mid-priced homes.

Increased Seller Activity

Sellers, too, may find this a more attractive time to list their homes. In recent years, many homeowners were reluctant to sell, fearing they wouldn’t get the price they wanted or that they would be unable to afford their next home due to high borrowing costs. With mortgage rates set to drop, sellers may feel more confident that buyers will return to the market, boosting their chances of a successful sale.

Additionally, many sellers who refinanced during the pandemic at historically low rates will now see an opportunity to upgrade to larger homes without feeling the sting of higher mortgage payments. As more homes come onto the market, inventory levels could start to rise, offering buyers more options and balancing out supply and demand.

Real Estate Investors Poised to Benefit

The 50 basis point rate cut could also reignite interest from real estate investors. In markets where property appreciation had slowed, lower borrowing costs may make it easier for investors to finance purchases and boost cash flow on rental properties. Expect to see increased activity in multi-family and commercial real estate, where investors can leverage the lower cost of capital.

Moreover, as more individuals reconsider homeownership due to improved affordability, there may be a new demand for rental properties, making it an ideal time for investors to enter the market or expand their portfolios.

Regional Differences: Winners and Losers

While the rate cut will generally stimulate the market, not all regions will benefit equally. Markets that were already cooling, particularly in areas that saw explosive price growth during the pandemic, could see a more significant uptick in demand. States like Texas, Florida, and Arizona, which have attracted a steady flow of migrants over the past few years, may see renewed competition among buyers.

However, high-cost areas such as San Francisco and New York, where even small rate reductions don’t significantly alter affordability, may not see as much of a rebound. High housing costs in these regions mean that even with lower interest rates, many buyers remain priced out of the market.

Long-Term Implications

While the 50 basis point cut is a welcome change for the market, it’s important to consider how sustainable these conditions will be. If inflation remains low, the Federal Reserve may keep rates steady for a time, creating a more stable environment for buyers, sellers, and investors. However, any future rate increases could once again slow the market.

Furthermore, while lower rates generally improve affordability, home prices may rise as demand increases, offsetting some of the benefits for buyers. It will be crucial for those looking to enter the market to act quickly to take advantage of this window of opportunity.

Conclusion

The September 2024 rate cut has injected new life into a real estate market that had been cooling for some time. Improved affordability is likely to bring back buyers, while sellers may be encouraged to list their homes with the prospect of increased competition. Real estate investors, too, will be watching the market closely for opportunities to capitalize on lower borrowing costs.

As we head into the final quarter of the year, this rate cut could be the catalyst for a resurgence in activity across both residential and commercial real estate markets. Buyers, sellers, and investors alike should stay informed and move strategically to maximize the benefits of this shift in the market.

Fall into Real Estate: Exploring the Seasonal Benefits of Property Development

As the leaves change colors and the air turns crisp, the fall season ushers in a unique set of opportunities for real estate developers. In this blog post, we will delve into the exciting world of real estate development during the fall season. From the seasonal benefits of property development to the appeal of fall-themed marketing strategies, we’ll explore how this season can be a fruitful time for property developers.

Fall into Real Estate: Exploring the Seasonal Benefits of Property Development

Autumn Construction Advantages

Building during the fall season offers several advantages that can positively impact construction projects. Here are some key benefits:

1. Moderate Temperatures

Fall is characterized by moderate temperatures, which can be ideal for construction work. Unlike the scorching heat of summer or the bitter cold of winter, fall weather tends to be more temperate. This can help in maintaining a comfortable working environment for construction crews.

2. Reduced Risk of Extreme Temperatures

Extreme temperatures can be detrimental to construction projects. During the fall, there is a reduced risk of extreme heatwaves or cold snaps. This stability in weather conditions can help construction crews work consistently without the need for excessive breaks or weather-related delays.

3. Extended Daylight Hours

Fall typically offers longer daylight hours compared to winter, allowing construction crews to work longer shifts. More daylight means more productivity and potentially shorter construction timelines.

4. Stable Ground Conditions

Fall often brings drier and more stable ground conditions compared to the wetter spring months. This can make excavation and foundation work more manageable and reduce the risk of soil-related delays.

5. Comfortable Working Conditions

The comfortable temperatures of fall can lead to happier and more comfortable construction workers. When workers are comfortable, they tend to be more productive and focused, which can translate into increased efficiency and potentially lower labor costs. It also reduces the risk of heat-related illnesses, which can be a concern during the summer.

6. Energy Efficiency

Fall’s moderate temperatures can reduce the need for heating or cooling equipment on construction sites, saving on energy costs. This can be particularly significant for large projects where energy consumption is substantial.

7. Reduced Weather-Related Delays

Fall is generally less prone to extreme weather events like hurricanes, tornadoes, or heavy snowfall, which can cause significant delays in construction projects. This can result in more predictable timelines and budgets.

8. Optimal for Certain Materials

Some construction materials, such as asphalt, concrete, and paint, can cure and set more effectively in moderate temperatures. Fall’s climate can be ideal for these materials to achieve the desired strength and quality.

9. Landscaping Opportunities

If landscaping is part of the construction project, fall is a great time to plant trees, shrubs, and grass. The cooler temperatures and moist soil create favorable conditions for landscaping, leading to healthier and more established greenery.

Building during the fall season provides a conducive environment for construction work, with milder and more predictable weather, increased worker comfort and productivity, and potential cost savings. These advantages make fall a preferred season for many construction projects.

Fall-Inspired Design Trends

Fall-inspired design trends can create inviting and cozy atmospheres in both residential and commercial properties. Incorporating these trends can make a property more appealing to potential buyers or tenants during the fall months. Here are some of the latest fall-inspired design trends:

1. Warm Color Palettes

Embrace warm and earthy color schemes that evoke the feeling of fall. Colors like deep reds, burnt oranges, warm yellows, and rich browns can be used on walls, furniture, and decor to create a cozy and inviting atmosphere.

2. Natural Materials

Incorporate natural materials like wood, stone, and rustic metals into the design. These materials add texture and warmth to spaces and align with the organic feel of the season.

3. Fireplaces and Hearth Areas

Fireplaces, whether traditional or electric, are a quintessential fall feature. They not only provide warmth but also serve as a focal point in living rooms. Hearth areas with comfortable seating and cozy throws can make spaces even more inviting.

4. Hygge-Inspired Decor

Embrace the Danish concept of hygge, which emphasizes coziness and contentment. Use soft, plush textiles like blankets and cushions, and opt for soft, warm lighting to create a soothing and comforting ambiance.

5. Fall-Themed Decor

Incorporate fall-themed decor elements such as pumpkins, gourds, wreaths, and seasonal floral arrangements. These small touches can instantly infuse a space with the spirit of the season.

6. Plaid and Tartan Patterns

Plaid and tartan patterns are synonymous with fall. Use these patterns in upholstery, pillows, and throws to add a touch of traditional fall charm.

7. Rich Fabrics

Velvet, wool, and faux fur are luxurious fabrics that are perfect for fall. Incorporate them into upholstery, curtains, and cushions to add warmth and texture to your interiors.

8. Biophilic Design

Connect with nature by incorporating biophilic design elements such as large windows that bring in natural light and views of outdoor foliage. Indoor plants can also enhance the connection to the season.

9. Seasonal Scents

Fragrances play a significant role in creating a cozy atmosphere. Consider using candles, essential oil diffusers, or potpourri with scents like cinnamon, vanilla, and cedar to evoke the scents of fall.

10. Outdoor Spaces

For commercial properties, consider enhancing outdoor spaces with cozy seating, fire pits, and warm lighting. This allows patrons to enjoy the fall weather comfortably and encourages them to spend more time on the premises.

Incorporating these fall-inspired design trends can make a property feel more inviting and seasonally relevant. Whether you’re selling or renting a property, creating a warm and cozy atmosphere during the fall months can help potential buyers or tenants envision themselves living or working in the space, ultimately making it more appealing and memorable.

Seasonal Property Showcasing

Embracing the charm of the fall season when showcasing properties can be a strategic move for real estate developers. Here are some tips on how to stage properties to highlight the beauty of fall and the benefits of holding open houses during this season:

1. Outdoor Fire Pits

Install outdoor fire pits or fireplaces in the backyard or patio areas. These provide warmth and create a cozy ambiance, making the outdoor space more inviting during the cooler fall months.

2. Autumn-Themed Landscaping

Enhance the property’s curb appeal by incorporating fall foliage. Plant trees and shrubs that display vibrant autumn colors like red, orange, and yellow. Adding mums, pumpkins, and seasonal flowers to the landscaping can also make the property feel more seasonal.

3. Pumpkin Decorations

Decorate the front porch or entryway with pumpkins, gourds, and seasonal wreaths. These simple additions instantly convey a sense of fall and make the property feel festive.

4. Warm Lighting

Use warm and soft lighting both indoors and outdoors. This creates a welcoming and cozy atmosphere, especially during evening property viewings.

5. Fall-Themed Table Settings

Set up dining areas with fall-themed table settings, including tablecloths, placemats, and centerpieces with autumn colors and motifs. This helps potential buyers envision entertaining in the space during the fall.

6. Scented Candles

Place scented candles with fall fragrances like apple, cinnamon, or pumpkin spice throughout the property.

Incorporating these strategies can help market fall-inspired properties effectively, capitalize on seasonal tourism, and create sustainable and environmentally responsible real estate developments that provide both financial returns and long-term value. As the leaves fall, the opportunities in the real estate development industry rise.

By embracing the unique advantages of the fall season, from construction benefits to marketing strategies, developers can unlock the potential for successful projects that capture the essence of autumn’s charm. Whether you’re a seasoned developer or a prospective investor, fall can be the perfect season to dive into the world of real estate development.

Best Omaha Trails For Hiking, Biking, And Walking

Welcome to the diverse world of outdoor exploration along the captivating Omaha trails. Nestled in the heart of Nebraska, Omaha offers many scenic trails that are perfect for avid hikers, passionate cyclists, and leisurely walkers alike.

Best Omaha Trails For Hiking, Biking, And Walking

Omaha has an abundance of trails, making it the ideal destination for nature lovers who also want to be in close proximity to modern conveniences. Whether you’re visiting or you plan on relocating, there are tons of trails in Omaha that are perfect for hiking, biking, and walking.

Below, we look at some of the top trails that you’re definitely going to want to check out.

Hiking Trails

There’s nothing more relaxing than a hike in the woods. It allows you to get up-close and personal with nature, and there are tons of great hiking trails in Omaha to enjoy. Some of the top picks include:

Hitchcock Nature Center

Situated in Loess Hills, just outside of Omaha, the Hitchcock Nature Center features several hiking trails. The trails vary in length and complexity, with some offering gentle inclines and others a more rugged terrain. Whichever trail system you choose, you’ll be sure to marvel at the breathtaking views of the Missouri River Valley.

Fontenelle Forest Nature Center

With over 26 miles of hiking trails, Fontenelle Forest Nature Center is a great spot for hiking. All trails offer great opportunities for birdwatching and stunning views of the natural flora.

Biking Trails

Bicyclists flock to Omaha, as the city features numerous trails for all ability levels. Whether you’re a novice or a pro, you’ll find trails that will suit your needs. Some of the best options for biking include:

Papio Trail

If you want to enjoy a long ride, Papio Trail is a great choice. This stretches from northwest Omaha to the Missouri River and meanders through several parks and neighborhoods. The trail varies between paved and natural surfaces, and it offers stunning scenery.

Keystone Trail

One of the most popular biking trails in Omaha, The Keystone Trail is another popular multi-use trail in Omaha that follows the course of Papillion Creek, a tributary of the Platte River. It’s ideal for biking and hiking and provides access to scenic spots near the Platte River.

Bob Kerrey Pedestrian Bridge

It is a popular destination for both locals and visitors, connecting Omaha, Nebraska, and Council Bluffs, Iowa providing a scenic route for pedestrians and cyclists to cross the Missouri River while enjoying views of the river and the surrounding area.

Walking Trails

If you’re looking for a more laid-back way to take in the natural beauty that Omaha offers, there are miles of trails in the city. Some of the most popular walking trails include:

Zorinsky Lake Park

This park features a combination of walking and biking trails, which wind around a picturesque lake. The paths are paved, making the trail easily accessible for people of all ages and ability levels. There are lots of benches where you can stop for a breather and take in the natural beauty.

Heartland of America Park

Located in downtown Omaha, Heartland of America Park offers respite from the hustle and bustle of the city. The walking trail wraps around a pristine lake and offers panoramic views of the Omaha skyline.

Experience Nature On Omaha’s Trails

Omaha is much more than a metropolis; it’s a haven for outdoor enthusiasts. With so many hiking, biking, walking trails, and recreation areas there’s something for everyone to enjoy in this beautiful part of the country.

Why Omaha is a Great Place to Build Your Dream Home

There are several thousand places in the world where aspiring property developers could choose to build their very first dream home. But Omaha is one of the most popular choices for modern homeowners – especially ones who want to combine prime property prices, with affordable development and living costs.

Why does Omaha make the perfect place to build your dream home, whether it’s your first attempt or your final one? We’d say that it’s a combination of the right things, all coming together right in one place.

Why Omaha is a Great Place to Build Your Dream Home?

Omaha Property Development Experts

Like Silicon Valley and its technologically rich reputation (or Wisconsin and its bountiful dairy industry), Omaha has certain things that help to make the area special – and makes Omaha, unlike any other part of the country.

Many property development experts have made Omaha their home, too.

It means that when you need to hire an architect or building team, you can hire a local one. Local companies are likely to be familiar with the landscape and area, and they’re exactly the kind of help that you need to make your stay in Omaha a great one.

 The Property Prices in Omaha

Property prices in Omaha aren’t ranked nearly the highest in the country, and you won’t pay as much as you would in states like New York for great real estate.

Other states are almost unaffordable if you want to build a true dream home, but Omaha is often considered one of the most affordable states for property – especially its development.

A few thousand dollars go further here per square mile, making Omaha an especially great choice.

The Cost of Living in Omaha

Once you’re settled as an Omaha resident, you’ll also be delighted to know that the general cost of living within Omaha is much lower than anywhere else in the country. States like New York or Mississippi are affordable for some, but not necessarily if you need the budget to live comfortably and build your home.

Omaha is a great place where comfort can meet costs.

The Public Transport in Omaha

Public transport is one of the easiest things to access throughout most of Omaha, and you’ll notice that most of the locals rely on various transport methods made available more than they rely on their own vehicles.

Once you need to get around, public transport is affordable and accessible to you for most of the day and night. Next, you’ll want to ask some of the more experienced locals to show you around town!

Job Opportunities in Omaha

 There’s a lot more than just your dream home to be built here in Omaha: some people also move to Omaha to find their dream careers.

There’s such a diverse makeup of people in Omaha, that there are businesses from almost every industry – and you could move here if you were anything from a music producer to a writer.