Nebraska Real Estate Market Outlook

Nebraska’s agricultural sector is in danger of losing its balance once commodity prices will be on a freefall. If corn (maize) and soybean prices plunge below the average rate this year, expect the states’ economy to be hit badly. The government is counting on transport, telecommunications and information technology to provide enough buffers when the inevitable occurs.

The general real estate market activity is doing better compared to other states. In fact, subprime mortgages are very few in the state, keeping a lot of homeowners from filing foreclosures. The recession may be discouraging buyers in other states to snap up the glut of homes available but in this farming state, home values are not falling drastically.

Borrowers can benefit from the congenial lending of mortgage providers in the state unlike in most states where the credit markets have tightened. If the crisis impact is compared among states, Nebraska has been fairly unscathed.

Lincoln, known as one of the healthiest cities in the country, isn’t at par with its reputation in terms of its local housing market. Foreclosures are on the rise in this city as slow demand is frustrating sellers from disposing their properties at a faster rate.

In 2009, RealtyOutlook.com expects home values to fall by 3 percent and it may take a longer time before prices reach the bottom. For now, Lincoln’s future is still far from taking a detour out of recession.

Bellevue’s expansion opportunities are attracting investors in the south of Omaha. Because of the Offut Air Force Base in Fort Crook, the population has increased significantly. The crisis however has slowed Bellevue’s real estate market but only at a modest rate. In fact, home values will only be affected by a 3.5 percent deflation in 2009.

Omaha is a hub of most Fortune 500 companies and has been a perennial topnotch area for technology, insurance and finance companies. Warren Buffet is just one of the evidences to this. In terms of its property market, sales will continue to be slow but only a 4 percent reduction in home values is forecasted by RealtyOutlook.com.