Omaha, Nebraska Realtors report more homebuyers turning up to view listings and sinking rentals which together may point to a diminishing buyer's market.

"Omaha is a wonderful area to live in," says Realtor Vanessa Meyer, " - just large enough for great shopping, entertainers, and amenities. Still small enough to meet friendly, easygoing people who care about you.

Meyer advises, "Property values have steadily been on the rise for 19 years. So whether you have short or long term plans for settling in the Omaha area, a home purchase should be in your plans.

For a few days when the war started, rates went up but the initial jump in the market has subsided," she says, "and rates returned to 5.75-6.0 for 30 years & 5.125-5.375 for 15 years. The market is really heating up. As spring time approaches our wonderful city, we see many homeowners preparing for the flood of homebuyers coming soon. With interest rates to staying low, more and more renters are investing in homes. Rental rates are going down as home sales continue to stabilize. When all of America is having tough economic times, real estate sales are at record highs for the winter/spring season. This winter we had more sellers than buyers in the market. The warm weather has balanced out buyers/sellers more evenly as the year has progressed into spring."

Say Realtors Judy and Dave Smith, "A lot of buyers have surfaced due to the interest rates dipping so low. Lenders are offering 100 percent loans to buyers with good credit if they contribute at least 3 percent of their own money in closing costs.

"Sellers, if you list your home at a fair price, it will sell," suggest the Smiths. "Buyers, don't wait and let the interest rates take you out of the market."

"Although spring has arrived we continue to see a yo-yo effect with home sales," says Realtor Cathy Blackman. "One week the market is over-run with potential buyers, the next it slows to a crawl. Interest rates continue to stay low, and reasonably stable. It is a great time for investors and first-time homebuyers."

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Published: April 1, 2003

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