Many homebuyers struggle with finding a home that is within their price range, but many of those perusing the market also struggle when it comes to the search. If you’re currently in the real estate market and are having difficulty finding a good selection of homes, here are some ways to expand your search so you can find an opportunity you’re prepared to invest in.

Look Over The Old Listings

Whether you do it on your own or enlist the help of your real estate agent, it’s worth looking through the old listings to determine if any old opportunities are still available. There may be many formerly listed homes that have since sold, but homes that have lingered on the market may be open to offers; they may also be more aligned with the current market rates. Instead of taking the listings for granted, search for old opportunities that might turn up something good!

Consider Other Marketing Strategies

The market has changed in recent years, but the way that people choose to sell their home has changed along with it. While it’s still possible to see a sign on the front lawn or find a home on a real estate agent’s page, social media has become a very popular way to buy and sell. Aside from looking through the listings, consider searching Twitter or Facebook posts for homes that are for sale in your area. While you may not find your dream home, it’s entirely possible that an interesting detail or neighborhood that might have been missed will capture your attention.

Keep An Eye On Expensive Listings

Most homebuyers will immediately write off a listing that is out of their price range, but homes that are overpriced will often sit on the market. Fortunately, for many homeowners, this is something they can use to their advantage. Instead of avoiding pricey homes altogether, make sure to keep tabs on ones that are a little bit out of range but manage to pique your interest. It’s entirely possible that they won’t come down in price, but if they do it may be well worth the wait.

Many homebuyers struggle to find a home in a tight market, but by keeping an eye out on listings and considering all of the post-modern strategies for marketing, you may be able to find your dream home. If you’re currently searching for a home, contact your trusted real estate professional for more information.

Shelly Ragan
Realtor
shellyragan.com

High Rent Driving More People to Invest in Real Estate

Rent in Omaha has been rising in price an average of $16 per month, or about $384 a year. On the other side, the sale prices of homes are at an average of $139,000, which is 36% lower than the average home price in the United States. New construction homes have been sweeping the market as well. In 2015, the number of building permits went up 17% in comparison to 2014.

The Omaha market is a great place to start your real estate relationship. Omaha has so many different types of homes in different price ranges – there is a house for everyone! You can find older, smaller homes in Dundee, Benson and Midtown that are perfect for starter homes for young couples or families. Larger and grander homes can be found throughout Omaha as well in a variety of price ranges. Start searching for a home in Omaha at cbshome.com.

Compared to renting, real estate is truly a beneficial investment – one even Warren Buffett endorses! Yes, the sticker price may be shocking compared to a monthly rent check, but most mortgages are similar in price to monthly rent prices. To see how much an mortgage payment might be, check out this mortgage calculator.

Are you looking to dip your toes in the real estate market in Omaha? Find a great real estate agent from CBSHOME on our website!

Gallup says, “…more positive views of the housing market may help foster a situation in which home buying activity increases and home values continue to rise over the next year.”

If you are interested in Buying or Selling a home, call one of the TAG TEAM members today:  402-215-2156.

We can do a FREE Comparative Market Analysis! Or better yet, get you signed up for HOME SCOUTING, a FREE App for your phone or IPad, that will show you all current homes listed on the MLS in YOUR NEIGHBORHOOD!!!!!

If you are considering purchasing a home this spring, it is important to understand some of the unspoken rules of buying a home. Following these five rules can help make your home-buying experience much more productive.

Rule #1 :: Find a lender and get pre-approved before beginning your home-buying search.

When working with a big bank, the pre-approval process can take up to two weeks, so it is best to begin the pre-approval process before looking at homes. Many sellers will request or require that you be pre-approved before making an offer on their home. Even some real estate agents will want to know that you are a serious buyer, and may request that you be pre-approved before they show you any homes.

Rule #2 :: Check your credit score and do not open any new lines of credit before you close on the home.

Your credit score is a key factor for lenders to determine your ability to pay back a loan. If you have good credit history, lenders will be more apt to approve the necessary financing to buy a home.

Important: Do not open any new lines of credit before you close on your home. Even if you have already been pre-approved, lenders will review your recent credit history before they transfer the funds into your account. Many pre-approvals will grant the lender the right to rescind the pre-approval if any other lines of credit have been opened prior to closing.

Rule #3 :: Always hire a real estate agent.

Real estate agents make the home-buying process easier, especially if you are a first time homebuyer.

Despite the vast amount of information now available on the internet, a real estate agent can still serve a valuable purpose. Real estate agents are trained to understand your financial situation and home-buying criteria, and are experts at finding homes that satisfy that criteria. Real estate agents also can be extremely valuable when it comes time to make an offer on the home you desire. A good real estate agent will compare current and past prices of similar homes in the area. This will allow you to make an informed offer while also giving you some negotiating leverage.

Most importantly, the real estate agent’s commission is often paid by the seller, allowing you to get all this expert advice free of charge.

Rule #4 :: When you have found the home you want, put down a deposit with your offer.

Some areas will legally require you to put down an “earnest money” deposit when you make an offer. Even if the earnest money deposit is not legally required, it is still a gesture of good faith between you and the seller that can drastically increase the chances of having your offer accepted.

The deposit is usually 1-3% of the home’s value. It can be scary to make such a significant deposit without knowledge of whether your offer will be accepted or not, so make sure that your real estate agent or real estate attorney includes a contingency in the purchase and sale contract that will allow you to recover your deposit if the deal falls apart.

Rule #5 :: Attempt to establish an emotional connection with the seller.

Establishing a personal connection with the seller can help increase your chances of having your offer accepted. Homes often hold significant emotional value, and sellers like knowing that their home will be purchased by a person or family that will value the home in a similar way.

Common ways to build an emotional connection include submitting a letter with your offer to explain who you are and how much you love the house, and always showing respect to the realtor and the home at showings. The realtor will likely relay that message to the seller when you submit your offer.

Articles have focused on how “home prices will be higher,” “mortgages will be easier to get,” and “more homeowners are likely to return to positive equity” due to an improved economy.

What will really happen this year remains to be seen. However, it’s important to note that even predictions are sometimes different for the local market than they are for the national market.

While Omaha’s market may follow some national trends, we may go a different direction when it comes to others.

To clarify what might be on the horizon for us, I thought I would share some predictions about the Omaha market from Joe Valenti, President and CEO of CBSHOME, alongside some common themes we’ve been hearing from national outlets.

• Home prices will increase. After a robust comeback in 2013, home prices are expected to “increase 5 to 6 percent in 2014,” according to CoreLogic, a national source for real estate data. In Omaha, Joe tells us home “prices will continue to be steady or rise slightly in 2014.”

• More homes will be available to purchase. An article in Forbes tells us the “shortage of available homes will begin to soften in February,” due to new construction and rising prices. In Omaha, this shortage isn’t expected to change significantly. In fact, because the Omaha area has a low listing inventory, “buyers may need to act quickly to secure their new home or have fewer homes to choose from,” Joe said.

• New construction will experience considerable gains. Several national outlets have told us new home construction is expected to grow significantly during 2014. In Omaha, we will follow this trend. The demand for new homes here will continue to grow because of fewer pre-owned homes on the market.

• Mortgage rates will rise. The Forbes article reported rates are expected to hit 5 percent by the end of 2014, which is higher but still well within normal levels. In Omaha, we’ll see the same – continuation of these historically low interest rates will keep homes affordable for buyers.

• More Americans will move. Forbes tells us “rising prices, a reversal of underwater mortgages, and easier credit” will motivate more Americans to make the move to a different home. In Omaha, we won’t see as much activity. In fact, Joe tells us “owners are staying in their homes much longer than before,” which will contribute to a low inventory of existing homes for sale in 2014.

As you can see, Omaha doesn’t always follow the national news when it comes to real estate. Over the long-term, that’s usually good news – our real estate market wasn’t as impacted as other markets on the coasts by the Great Recession.

I’m excited for what 2014 will bring for Omaha real estate, and look forward to the opportunity to help you find what you’re looking for this year in our great city.

This is the season of change. Don’t be sad. Rake and bag the old and look to the future. Whether your lifestyle change includes moving to bigger, smaller, local or far, the Tag Team can help you. Check out our website at tagteam-realestate.com for all the area listings.

Need to sell yours first?  We can determine the current approximate market value. NOW IS THE SEASON to get on the market. Inventory is down and your competition is less. Interest rates still have buyers buying. The Tag Team is very thankful. Blessings to you and yours.

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It has never been my style to predict economic trends.  I leave that to the pundits.  However, looking at the Omaha market area statistics provided by the Great Plains Realtors’ Multiple Listing Service, Inc., the numbers are encouraging.

In the Omaha area, at the end of last month, we had 17.4% less houses on the market.  For sellers that is great news.  The lower the inventory the more housing prices tend to rise.  On the other hand, the area had 4,596 houses still for sale.  That’s good news for buyers because it means they still have many houses from which to choose.

Sales in the Omaha area, year-to-date, at the end of August was up 14.1% over last year’s August numbers.  The average sale price was up 7.74% compared to August 2011.  This is good news. 

The numbers are positive and they have been all year.  Happily, Omaha didn’t see the highs and lows of other metropolitan areas.  Yet, seeing the Omaha numbers consistently rising over last year’s has been very exciting. 

So, when you’re ready to pick out a home or decide to see your home please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. 

I admit it openly: I’m a big picture idealist. I believe that I first must think well of people and let them prove me wrong. I believe that the work I engage in should matter and be a blessing to others. And I believe, without question, that every person should have a home. Whether they rent or own, people need a place to feel at home in.

Because I believe these things to be truths, my work is motivated by a desire to be a blessing in the lives of others. I want my work to provide for my family (thus being a blessing to them), while also caring for others. Real Estate provides me that very opportunity.

However, people work, and choose different types of work, for many different reasons. Some are involved in real estate for “the money”; others for the schedule; and still others because they like working with and helping people. Helping people is at the very heart of this profession, and yet unfortunately, not all people feel that real estate professionals actually want to help them. And sadly, as in all professions not everyone in the profession works in an ethical and honest way (although most do).

My work, every day, is designed to bless others. Everyone needs shelter. Everyone needs a place to call home. For many, home ownership becomes that haven. Becoming a home owner means doing something that in most people do just a few times thus are not very skilled at it. Agents who either have conducted many transactions or who know people who have, are skilled and able to address the thousands of things that need to be done when real property changes ownership. Our profession matters. And, personally, the work that my wife and I do in real estate matters.

If there is a challenge or frustration in our profession it is that, frankly, I’m not busy enough. I don’t make a dime unless things go to close. And most importantly, I don’t get to help people unless others come knocking and let me know they need help. I market face-to-face, in letters, with post-cards, and by giving out hundreds of business cards. I even call my friends and ask for referrals. But ultimately I can’t help if no one lets me. It isn’t much different than my work as a college career counselor in that I wasn’t much use if people didn’t come, but I am good at my job. Tammie and I are good at what we do. And we do it, paying all our expenses, because we believe in home ownership, and, most importantly, in helping people.

Not all realtors are created equal and everyone has something different to offer. But ultimately the relationship and connection you build with a realtor is the fundamental heart of how you feel about your experience with an agent. Selfishly, and by way of self-promotion, Tammie and I extend an open invitation to allow us to help you and your friends with your home buying and selling needs!

I look forward to your questions, comments, and thoughts!

“Like” us at www.facebook.com/TheRheinerCrew and check out our CBSHome real estate site at www.TheRheinerCrew.com.

Michael

1. Home owners are happier and healthier and enjoy a greater feeling of control over their lives.
2. Owning a home is one of the best ways to build long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.
3. Home owners are free to redecorate, renovate and modify their homes as they wish.
4. Most home owners enjoy stable housing costs – a fixed rate mortgage payment might not change for 15 to 30 years while rent typically increases 3% a year.  A friend of mine had her Omaha rent increase 19% last year.
5. Home owners can typically deduct mortgage interest and property taxes on their federal individual income tax return.
6. People, who own homes vote more, volunteer more and contribute more to their neighborhoods.
7. Homeowners do not move as frequently as renters, providing more neighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
8. Children of home owners do better in school, stay in school longer, are more likely to participate in organized activities and spend less time in front of the television.
9. Home owners pay 80 to 90% of federal individual income taxes, contributing to federal programs that benefit all Americans.
10. Every home purchased pumps more than $60,000 into the economy for furniture, home improvements and related items.
11. Housing accounts for more than 15% of the national Gross Domestic Product, a key driver of our national economy.

NAR assures us that there are many more reasons home ownership is good for people, their communities and the nation. If you are ready to capture the American dream of home ownership please give me a call at 402-670-8775 or check out the websites at  http://www.myomahahomesearch.com/ or http://www.myomahahomemarketvalue.com/

CBSHOME Real Estate proudly announces our new market update powered by the CBSHOME Research Center. So why did we embark on this project? Joe Valenti, CEO and President of CBSHOME Real Estate explains “With CBSHOME being the leading real estate company in our community, we felt it important to provide the best possible local housing information for our customers!!  The housing economy in Omaha is much better than what you read on a national basis and we want our customers to be able to see and understand the local real estate market.  This information source will accomplish that goal!!  We can also drill down to more specific information for neighborhoods in order to help our customers make their best possible housing decisions.”

The Housing Report produced 4 times each year visit now

The Housing Reports are printable reports produced on a quarterly basis for the Metro Omaha area including Douglas, Sarpy, and Pottawattamie county. Each report shows market activity for the last 15 months. In addition, four Omaha Metro quadrants will be reported defined as Northeast, Northwest, Southeast, and Southwest. Each report will include housing trends such as properties for sale, under contract, and sold.

CBSHOME’s Director of Business Development, Henry Kammandel adds “These reports will continue to support the fact that the Omaha Metro Market is not depressed as national reporting has tended to make everyone feel.  Every market is different and CBSHOME  is providing  local reports that will be refined down to certain sub markets within our community as we progress.”

Local Housing Trends updated monthly online visit now

Monthly online updates will be posted around the 10th of each month to our new Local Housing Trends page on CBSHOME.com.  This page will be “the source” for housing trend statistics in the Omaha Metro and surrounding areas. Many smaller segments of our community are available here.

The statistics are provided for small segments of Omaha as well as our entire market area including Council Bluffs.  Both the Housing Report and Local Housing Trends are powered by Trendgraphix, Inc., a national company specializing in analyzing local MLS data.The data source is provided by Great Plains MLS and Southwest Iowa MLS, and is more current than information made public in county records.

Months of Inventory is part of both the Market Housing Report and the online Local Housing Trends. Henry Kammandel notes that “When we compare Months of Inventory using 6 months as a rule of thumb being the stable indicator and comparing August 2011 to August 2010 Douglas, Sarpy, and Pottawattamie counties have shown improvement.  Douglas County in August 2010 was at 8.1 months and in this August 2011 is at 6.1 months.  Sarpy County in August 2010 was at 6.7 and in August 2011 is 5.1 while Pottawattamie County August 2010 was at 10.8 and as of August 2011 is at 5.1 with 94 properties under contract for this month.  We are very positive about the local conditions.”