Luxury home market improves; Luxury Home Tour scheduled for tomorrow night

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Home sales over $500,000 are up over 2009, despite decrease in other price ranges

There’s a glimmer of light in the Lincoln real estate market. Home sales over $500,000 are up 11 percent over last year.

This is good news considering that sales below $500,000 are down nearly 9 percent, according to the Midlands MLS. Local real estate agents are crediting the chain reactions caused by the home buyer tax credits, in addition to extremely low interest rates.

“Buyers in the upper price brackets are taking advantage of today’s low interest rates,” said Gene Brake, CEO of HomeServices of Nebraska, and HOME Real Estate. “They can get more house for less money than they could a couple years ago.”

There are currently more than 60 homes listed for sale over $500,000, and one group of REALTORS® is working together to help the public view many of them in one evening. Several Woods Bros Realty and HOME Real Estate agents have teamed up to host 22 open houses over $500,000 on Thursday, Sept. 30, from 5:30 to 8 p.m.

“We are giving people a non threatening, fun opportunity to see the outstanding values that are available,” said HOME Real Estate agent Nelda Hunt. “Our inventory of luxury homes really cleared out the end of last year and the beginning of 2010. Now we have a new flux of homes on the market that are great values, and we want people to come out and take a look.”

For more information about the Luxury Home Tour, visit www.HomeRealEstate.com.

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