Foreclosures and VA Repo Homes Not Much of a Problem in Nebraska- By: Clark Raitz
For those who plan on buying residential properties, including VA repo homes and foreclosed houses, Nebraska would be a great place to go. According to real estate experts, the state has one of the strongest housing markets in the whole U.S. and one of the very few that was able to maintain a balanced residential property industry amid the real estate crisis.
Foreclosures in Omaha, NE, and in the rest of the region are not as high as in other U.S. states. Because of this, prices of properties in the state are expected to hold steady and are not at high risk of declining rapidly as the crisis deepens. The state was actually given a price decline rating of less than 25% by analysts; a healthy range compared with other housing markets in the U.S.
With very low supplies of Nebraska bank foreclosures, the region was able to avoid the housing industry bust that started around four years ago. Prices in the region have consistently increased since the start of the decade, according to analysts. Nebraska also has vast supplies of land which allowed it to absorb the impact of the real estate crisis.
To top it all, the unemployment rate of the region is just shy of 5%, way below the national unemployment rate of 9.8%. For homebuyers, including those who are looking for foreclosed and VA repo homes, Nebraska is a great place to buy since they can be assured that the values of their properties will not plummet, owing mainly to the steady job market and the fact that the region's home values have maintained their levels despite the foreclosure crisis.
Not a lot of foreclosed houses for sale can be found in the region, which helps the housing market maintain values of properties. The state is also experiencing a gradual increase in population, with numbers expected to be even higher this year with the opening of various developments such as the TD Ameritrade Park Omaha Stadium.
For people seeking VA repo homes and other residential properties, Nebraska is one of the very few areas in the U.S. where they can expect property values to hold for a long time. Analysts stated that, for a long term investment, the state will be a wise choice.
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