Fremont housing market continues to build momentum

As spring and summer warmed in Fremont, so did the housing market.

After a somewhat cool winter, sales of homes in the Fremont area are rebounding nicely said two local real estate professionals.

“We are busier this summer than last summer,” said Jennifer Bixby of Don Peterson and Associates. “Our production numbers are higher.

“Winter was pretty slow,” she added. “But we’re coming back strong. The last couple of months has been catching us up year to date.”

Shelli Novotny, broker with Premier One Real Estate, agrees.

“The market is in a rebound situation,” Novotny said.

She pointed to a National Association of Realtors report showing April pending sales increasing 6.7 percent to the highest pending month in the past seven years. In the Midwest, she said, pending sales have increased 10 percent.

Both said the federal $8,000 tax credit for qualifying first-time buyers has helped sales, but it isn’t the only driving force.

“I think that the government did a fantastic job when they thought through on the $8,000 tax credit,” Novotny said.

Historically low interest rates have helped, too, Bixby said.

“A lot of people are trying to get moved in before rates do possibly go up,” she said. “If you look at even a 6 percent rate, that’s historically a good rate.”

Many homebuyers realize prices have come down some in the market.

“I think sellers understand that it is price, price and price that will ultimately sell the home,” Novotny said. “If you have your home listed and you have had no offers, you are probably 10 percent over priced. If you get an offer immediately, you found the right price.”

Price is important and it has been easier for Bixby to sell some of the

lower-priced homes. But all types of homes are selling.

“My average price is still around the $150,000 mark,” Bixby said. “We’re still selling to people moving up in size.”

Bixby also has sold several investment properties, some of which were homes that had gone through foreclosure.

“Investors are really on the ball right now,” she said.

But Fremont “was not hit as hard as the larger cities,” she added.

Those selling homes need to be prepared.

“You’ve got to be in tip-top shape,” Bixby said. “Curb appeal is important and you’ve got to be realistic on what the price is.”

Now is a good time for buyers and sellers, both said.

“It is the real estate industry that can help create a strong economy,” Novotny said. “If you are thinking about buying a home, find a professional Realtor you trust and get pre-approved.

“It is an amazing time to take advantage of all the market conditions,” she added.