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5 Fast Stats for July

by Morse Real Estate

5 Fast Stats for July

The month of July is officially behind us and August has begun. That means it is time to look at 5 interesting details for the month of July!

1. Cheapest home sold in Omaha
A vacant ranch was on the market for 16 days and sold for a only $9,000 and it wasn't even bank owned! Not surprisingly the new owner paid cash.

2. Most expensive home sold in Omaha
A 7,112 square foot beauty sold for $1,950,000. It came complete with its own outdoor pool, 7 fireplaces, and a "ladies boudoir." You would have had to acted quickly to make this one home because it sold in only 4 days!

3. Cheapest home sold in southwest Iowa
This home was for sale via HUD and sold for $12,510 after being on the market for 53 days. It had over 1300 square feet and was a 1.5 story bargain.

4. Most expensive home sold in southwest Iowa
For a whopping $850,000, you could have purchased a ranch on 20 acres with scenic views, a chef's dream kitchen and your very own barn.

5. Number of homes and condos sold
There were 1,769 homes and condos sold in southeastern Nebraska and southwestern Iowa in the month of July. That is a lot of moving boxes!

Which part of the real estate transaction makes you the most curious? Let us know.

Should I Buy a Home Now?

by Mike Morse

We are often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.

Please give a Morse Real Estate RealtorĀ® a call if we can be of any assistance in determining how much home you can afford in today's market.

Mike Morse
Broker & Owner
(402) 677-6356

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