Omaha Real Estate Blog

Omaha Real Estate     Contributed byDavid Matney with Alliance Real Estate

Many times I hear clients voice concerns over rising interest rates.  Interest rates have been at historically low levels for several years.  Every market is different and in the Omaha real estate market we are very fortunate to have a very stable and diverse job market.  We are also very fortunate in that we do not have the wild swings in the marketplace.  Unfortunately, we are still subject to the national media.  They are in business to sell news and good news does not sell. 

Jobs are by far more important.  If a job is lost it completely removes someone from the market.  A change in interest rates will determine what someone can afford, lose a job and now they are no longer even in the market.  The Omaha area has seen in influx of jobs in the aerospace industry, insurance and more recently Google has announced a major move into the area.  This is FANTASTIC for our market! 

There is some issues with owners having adjustable rate mortgages that are set to adjust and in increase in inventory above typical levels in our market.  However, in are very fortunate to have a stable job base and low unemployment.  Every market is different across the United States.  There is no national weather forecast for the entire United States nor is there an one overall real estate market.  If you are sitting on the sidelines do not let the opportunity pass you by. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

When you purchase or sell a home one of the closing costs you will incur is an escrow closing fee.  Typically this fee in Nebraska is approximately $300 to $400.  This fee is charged by the title company which serves as the escrow agent.  An escrow agent is a neutral third party where buyers and sellers give documents and funds for disbursement upon completion of terms and conditions of the contract. 

This fee is normally divided equally between buyer and seller.  When a buyer makes an offer to purchase they normally designate who will serve as escrow agent.  Normally your Realtor will provide you with some assistance with with designating an escrow agent.  Some real estate companies own their own title company, if this is the case this has to be disclosed in writing to the consumer. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

What is a blog?  A blog stands for web log.  A blog is simply an e-mail to the world.  It allows you to reach a wide audience and it levels the playing field. When I first heard of blogging I thought it was a nifty novelty would have no connection with real estate.  In fact, an agent mentioned blogging to me a about two years ago and I totally dismissed it.  When I first joined activerain and thought, "we'll it's free, so why not."  I really did not realise the impact blogging had on search engine optimization and the ability to get your word out.

If you are new to the network give it a shot.  It is an opportunity to spend 15 minutes and a chance to reach a HUGE audience.  Take a shot at it, it will get easier.  Make a comment or two and take part in the conversation.  Read other blogs and you have the opportunity to learn from folks from across the country. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate  

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

Nebraska is now in search of a new head football coach.  For anyone not from Nebraska this will not seem to be a big deal.  To give you some insight to how important this is the tracking of the airplane carrying Tom Osborne is front page news.  This is a BIG deal in Nebraska even if you are not a football fan.  The fate of the program is in Tom Osborne's hands and that gives everyone a sense of relief because everyone knows that in the end he will base his decision on what he feels is best for the program.  It will be interesting to see how the next few days play out.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

One of the closing costs you see when you sell a home is the state documentary tax.  This tax is paid by the seller for "executing a deed for the privilege of transferring beneficial interest in or legal title to real estate."  In Nebraska, this costs $2.25 per thousand in sale price.  This tax by law has to be paid by the seller.  This tax will be paid at closing and the title company will assist in making sure this tax is paid.  When you sell a home your Realtor will prepare a seller's estimated proceeds sheet outlining all the costs associated with the sale.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

What is a BAC?  A BAC stands for Broker Administrative Commission.  Some companies charge buyers and sellers an additional fee in addition to the commission when buying a home or selling a home.  If a buyer is purchasing a home a using VA financing then the broker is not allowed to charge a BAC. 

If you are buying a home you should ask your agent if their company charges a BAC.  As a buyer or seller you should not let a BAC determine whether or not you hire a Realtor.  You hire your Realtor based on the quality of your representation.  If you are receiving quality representation then you will receive more in return in terms of value.  Some companies charge a BAC and some do not.  However, you should be aware of whether or not you have to pay a BAC up front before closing. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate 

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

On behalf of all the Realtors at Alliance Real Estate we would like to wish everyone a Happy Thanksgiving! We would like to give a special thanks all of those who our serving our country in the Armed Forces who without them none of this is possible.

Thank you!

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

We ask sellers to have the home ready to show at the drop of a hat.  We also ask them to paint, remove wallpaper, RENT furniture, clean carpets and pay a hefty commission for FULL SERVICE.  Yet, some Realtors have a yard sign in the yard that is crooked, falling down, flyer box empty, flyer box falling off, faded sign, or the listing is so overpriced it should become a permanent fixture of the property.  Is that full service?

Brokers and Agents spend THOUSANDS of dollars in education, marketing, office equipment, assistants, and ADVERTISING yet something so basic is left to chance. I truly believe that many agents do not understand the POWER of the advertising in the yard.  A yard sign is ADVERTISING.  Poor presentation at the yard sign reflects extremely poorly on you.  The yard sign is your immediate advertising to the surrounding neighbors.  Some neighbors notice how you keep your sign and they will NEVER list with you because of it.  

For example, another company in the Omaha market has a listing down the street from my home.  It is clearly overpriced and has been on the market for at least 4 months.  It had flyers in the flyer box only during the first week of the listing.  To be fair, the flyer pretty nice.  I drive by twice a day so I doubt it has that good of flyer activity. This is a fairly high traffic residential street and I would expect fairly decent flyer pull.  If you are going to have a flyer box at LEAST fill it occasionally.  The house next to it is listed and that agent does not have a flyer box and that looks 10 times better than one with the empty flyer box.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

This year the Realtors at Alliance Real Estate in conjuction with the Omaha Area Board of Realtors are participating in the local Toys for Tots campaign.  So far, we have a good number of toys in our box.  As a former Marine, I am proud of our agents and their efforts, and we are working hard towards our goal of overflowing the box.  It is a really neat program and helps the folks that maybe can not buy their kids a new toy for Christmas.  My wife, loves to shop so I'm sure she will also help us meet our goal this year!     

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Omaha Real Estate     Contributed by David Matney with Alliance Real Estate

Occasionally I will help a buyer purchase new construction.  Often buyers will get frustrated because they feel that they are not getting a "good deal" because the builder will not budge on his/her asking price.  Sometimes buyers get frustrated because when they sold their home they had to take a $3000 hit off the asking price.  So now, when buying new construction they want the builder to feel the same pain.  It is important to understand the reasons why builders seldom budge on their asking price.  

First, existing homes are wholesale product, new construction is retail product.  Builders calculate what it costs to build the home, materials, financing, lot, etc. and then factor what they have for markup to make profit.  Existing home value is determined by the market.  Builders build homes for profit otherwise it does not make sense for them to build. 

Next, when a builder builds a home in a subdivision they will typically build several versions of the same home.  If they discount the price on one home it will affect appraisals for the same model when sell other homes in the same subdivision.  That affects the buyers and their financing - BIG TIME.  Now, builders are creative and what they will offer are finished basements, gift cards, closing costs, special financing, and some even offer bonues for Realtors.  However, once in a while you will see a builder lower the price as with a volume builder in order to keep the machine in motion. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate