Rent Real Estate

Market Conditions

While price trends remain unchanged in Millard, Nebraska, local experts are reporting a buyers market at this time. Inventory has seen a considerable decrease from last year -- down 14 percent -- setting this city apart from many areas across the nation. The average sold price is around $190,000, up only marginally from last year. Homes are still selling quickly, despite the area being described as a buyers market, with homes selling in just over a month"s time -- averaging 46 days. Recommends one local expert, "Advice to sellers: [They] need to price their homes competitively, and respective of condition. In today"s market you will need a Realtor that can review the market status of your house often (weekly) to assure your position in the market is strong as well as offer advice on staging, curb appeal, and other marketing strategies so your home stands out from the rest." For information on your area, please click here. Click here to view current Market Conditions in your location.


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Question: I have an existing single-family residence we"ll call Property #1. It has three bedrooms, two baths and is financed with a $450,000 option ARM. I make $1,700 a month in rent from the property. In July of 2006, I purchased a second property. Property #2 is a tri-level townhome in which I currently live. The second property is brand new and I have a $467,000 first mortgage plus a $57,000 home equity line of credit. I make $1,200 per month in rent on this property which also has an option ARM on it. The current value of property #1 is $550,000. The second property has not appreciated much.
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