Blog Entries

Omaha Real Estate Cost vs. Value

Michael.Terry@cbshome.com — Fri, 27 Feb 2009 06:00:00 +0100

The NAR recently put out a great new report regarding the cost vs. value of home remodel projects in 2008. The information pertains to the entire country as well as individual cities so you can find out what's a smart investment for right here in the Omaha real estate market. Surprisingly, replacing old siding, brought on average the best return for your dollar spent. Updating an old kitchen was also one of the better investments as well. The most important issue I took f [...]

Omaha Real Estate Multi Family Market

Michael.Terry@cbshome.com — Wed, 25 Feb 2009 06:00:00 +0100

Despite slow residential sales and depreciation, the mult-family market is showing signs of life into 2009. According to this NAR report, multi-family cap rates have gone up about 1% over the last year, despite less sales volume. This is great information for investors in the Omaha real estate market.

More on Stimulus Bill and Omaha Real Estate

Michael.Terry@cbshome.com — Sun, 22 Feb 2009 06:00:00 +0100

In this article in the Omaha World Herald we see how the benefits to first time home buyers in the Stimulus Bill can have an affect here at home. With interest rates in the 4% range and all the great tax incentives to first time home buyers we should see a much improved Omaha real estate market next year.

Omaha Real Estate and Mortgage Rates

Michael.Terry@cbshome.com — Fri, 20 Feb 2009 06:00:00 +0100

According to this USA Today article, mortgage rates have gone down yet again. Dipping to as low as 5%, whole 1% less than the rates this time last year. The Omaha real estate market will feel the positive affect of continually lowering rates and amazing tax incentives for first time home buyers.

Obama Stimulus Package and Omaha Real Estate

Michael.Terry@cbshome.com — Mon, 16 Feb 2009 06:00:00 +0100

Here are a few of the main points which the new stimulus bill will bring to the housing market...

1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a [...]

Omaha Real Estate Market 2009

Michael.Terry@cbshome.com — Thu, 12 Feb 2009 06:00:00 +0100

You can view what's ahead for real estate in 2009 in this Realty Times article. Much of what we see in 2009 will also have a profound affect on the Omaha real estate market. It looks like the market will continue to falter, however with all of the new incentives buyers in large numbers should be making moves into the market. The key to successful real estate investment will be stability.

Nebraska Employment Stable

Michael.Terry@cbshome.com — Mon, 09 Feb 2009 06:00:00 +0100

In a USA Today article, Nebraska is expected to lose 1% of the state's jobs this year, ranking in the top 5 nationally. Other states like Florida, Hawaii, Missouri and Michigan are expected to see at least a 4.3% job loss this year. This is great news for Nebraska as the employment rate has a huge affect on a real estate market. Without an employed population it is impossible a real estate market to thrive.

Omaha Rent Free Commercial Space

Michael.Terry@cbshome.com — Fri, 06 Feb 2009 06:00:00 +0100

In today's Omaha World Herald there is an article written about rent free commercial space in the Saddle Creek Records complex set to be completed this spring near 13th and Webster St. The idea is to allow individuals to use this space one month at a time for whatever purpose they desire, completely rent free. The developers, Bluestone Development, offer a website for those who wish to participate to submit their ideas online. Winners will be chosen and will be allowed to use t [...]

Home Owner Associations

Michael.Terry@cbshome.com — Wed, 04 Feb 2009 06:00:00 +0100

As housing prices went, condominiums have become more and more popular as they offer in some ways a more affordable and convenient lifestyle. However, with the advent of the condominium and the idea of shared ownership through Home Owner Associations it is important to understand what to look out for. The effectiveness of a Home Owner Association is key to living in a community where space and resources are shared. If you are considering purchasing property that falls within a [...]

Investment Potential

Michael.Terry@cbshome.com — Mon, 02 Feb 2009 06:00:00 +0100

In a new Realty Times article the real estate investment potential of self storage facilities were discussed. I know it's not that exciting, but the earning potential is outstanding. With the economy taking a hard hit in the past year many property managers of shopping centers and other commercial properties are facing bankruptcy as their tenants can not afford to pay rent. The article discusses a California entrepreneur and investor who has done quite well buying and managing [...]

2009 Buyer Incentives

Michael.Terry@cbshome.com — Sat, 31 Jan 2009 06:00:00 +0100

As the national housing market continues to decline it looks 2009 should bring some really incredible incentives for home buyers. Tax credits and the opportunity to buy down to very low interest rates should help entice buyers currently sitting on the fence to make a move. With information in this National Realty News article prospective Omaha home buyers must be encouraged especially with the stable real estate market that we have here in Omaha. This is a great time to jump in [...]

The Short Sale

Michael.Terry@cbshome.com — Wed, 28 Jan 2009 06:00:00 +0100

The short sale is often overlooked by buyers with all the attention given to foreclosures. A short sale is when an owner in default comes to an agreement with the lender to sell the house before the foreclosure process takes place, sometimes at a loss for the lender. According to this CNN article online short sales offer up a lot of opportunity for buyers looking for a bargain and discusses the process in detail.

The Obama Effect

Michael.Terry@cbshome.com — Tue, 27 Jan 2009 06:00:00 +0100

With a new president in office I am sure many of you are interested in knowing whether the new administration will have an effect on the real estate market. According to this Realty Times article, it definitely won't hurt. There was a small spike in January which isn't great but it's much better than the alternative. Also, future tax credits should help contribute to a recovering real estate market. Whether the new president is the cause of the improvement or not is up fo [...]

Loan Modification

Michael.Terry@cbshome.com — Mon, 26 Jan 2009 06:00:00 +0100

This article in Realty News does a great job shedding some light on popular loan modification myths. The important thing to remember... if you are defaulting on your payments it is never too late nor is your credit too poor to modify your loan with your bank. Your bank wants you to keep your house. The last thing they want is another house in their inventory because that means they have no income coming in from you in the form of interest payments. They will work with you [...]

Nebraska Market Doing Well

Michael.Terry@cbshome.com — Sun, 25 Jan 2009 06:00:00 +0100

In a new report written in Realty Times Nebraska as well as four other midwest states have the lowest unemployment rates as well as the most stable real estate markets in the country. If you are looking at a good place to invest in property Omaha is the place as you can count on stability for years to come.

Risky Markets

Michael.Terry@cbshome.com — Fri, 23 Jan 2009 06:00:00 +0100

Two new national indexes for determining real estate market risks have come out. The Omaha market is not mentioned as a risky, stable or opportunistic market. However, the trend appears to have the east and west coast as the riskiest markets with the midwest markets being the most stable and opportunistic. Check out the article at Realty Times to read more.

Loan Fraud

Michael.Terry@cbshome.com — Thu, 22 Jan 2009 06:00:00 +0100

According to a New York Times article loan fraud is up from this time last year. What is particularly alarming about this article is the fact that a large part of the reason the real estate market had such a boom and bust over the past five to ten years is because of shady lending practices. You would think individuals in the lending industry would have learned their lesson. Apparently, a hurting economy is encouraging more loan officers to fudge the numbers in order to get a s [...]

Changes for 2009 and Beyond

Michael.Terry@cbshome.com — Wed, 21 Jan 2009 06:00:00 +0100

With the inauguration of President Obama taking place on Tuesday a change in policy is expected. This article does a great job explaining the type of change in policies regarding the real estate market which can be expected in the coming years. A movement to enact policies which can reduce the number of foreclosed homes hitting the market combined with low interest rates could mean good things for the real estate market in the future. Click here to check out this Realty Times a [...]

First Time Homebuyer

Michael.Terry@cbshome.com — Mon, 19 Jan 2009 06:00:00 +0100

With economic crisis comes opportunity. That is a fact which is often ignored with all the talk of doom and gloom. There are a lot of people out there with stable jobs and good credit scores. Prices are at all time lows. The group with the greatest opportunity in front of them is the first time home buyers. Without over valued houses to weigh them down this is the perfect time to jump in the market, hold on and build equity. In many markets it's very hard t [...]

Refinancing

Michael.Terry@cbshome.com — Sun, 18 Jan 2009 06:00:00 +0100

Refinancing sounds like a great idea but may be more difficult than most people anticipate. Rates are low right now and a lot of people see that as a way to refinance and get out from under a bad home loan. Unfortunately, banks just don't give these super low interest rate loans away. In order to qualify you're going to need a great credit score and most other debt will need to be resolved. Check this article out to see what refinancing for a low interest rate loan ent [...]