Omaha Real Estate Blog

Did you know that the Omaha City Council is currently considering an ordinance on requiring ALL investment properties built before 1978 to be certified "lead free" every three years?  This ordinance would require landlords to test investment property every three years at a cost of $350 per unit. 

If you own investment property or if you are considering buying investment property the time is NOW to let the council hear your opposition.  The city is mapped into 7 districts, click here for a map of the districts.

• District 1:  Jim Suttle
• District 2:  Frank Brown
• District 3:  Jim Vokal
• District 4:  Garry Gernandt
• District 5:  Dan Welch
• District 6:  Franklin Thompson
• District 7:  Chuck Sigerson, Jr.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Did you know ...

• there are currently 5,932 ACTIVE residential listings currently on the Omaha market.
• that represents a 7.68 month supply of homes currently on the Omaha market.

Did you know ...

1)  that 6,885 residential listings have SOLD so far this year.  

2)  the average market time for SOLD listings is 72 days. 

3)  that only 42.35% of the homes listed actually SOLD.

4)  that 21.19% of the homes listed EXPIRED.

5)  the average sale PRICE for residential listings ... $174,392

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Last year... 1/1/07 to 9/30/07

1)  8,553 residential listings SOLD last year in the same time period.

2)  the average market time for SOLD residential listings was 68 days.

3)  47.09% of the homes listed actually SOLD.

4)  17.39% of the homes listed EXPIRED.

5)  the average sale PRICE for residential listings ... $171,978

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

 Information provided by the Great Plains Multiple Listing Service

Absorption Rate for the Omaha Market

Number of homes SOLD from 9/27/07 to 9/27/08:  9275

9,275 divided by 12: 772

•      On average 772 homes are absorbed (SOLD) by the market each month.

Current number of ACTIVE listings:  5,932

•      5,932 divided by 772 = 7.68

***

There is 7.68 month supply of homes on the market

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Many buyers underestimate the true value of an evaluated home warranty.  ServiceOne Home Warranty offers buyers an EVALUATED home warranty program.  On an evaluated home warranty - the warranty company will go to the home and conduct an evaluation.  This evaluation is not designed to replace a whole house inspection.  It is designed to look over the mechanical systems and see if they find any item that is in need of repair.  If they find an item that is pre-existing then that item is excluded from home warranty coverage.  To protect yourself when you purchase a home, you would want to write the contract subject to an evaluated plan with no exclusions.

In the puchase agreement ...

If an exclusion is found it would be the responsibility of the seller to fix the excluded item so an exclusion free warranty could be issued to the new buyer.

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Here is an example of an Evaluation

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Most of the time exclusions are not very expensive items.  However, occasionally exclusions can be a significant items like a furnace.  In the example below, a home was evaluated and the furnace was red tagged by SerivceOne because of a high CO reading.  If there was no evaluation in connection with this home then the purchaser would have be unaware of the current condition of the furnace.  In this example, not only is the furnace excluded but it is also a life threatening condition.

As you can see home warranties are not something that should not be taken for granted.  If you have any questions about home warranties you should contact ServiceOne at (402) 339-HELP or visit their website.

Thanks,

David Matney, CRS,GRI

Allliance Real Estate

Many homeowners get tunnel vision when hiring a contractor.  Price, price, and price.  However, one of the most important items to consider is the contractor's insurance.  Do they have even have insurance?  Do they have just liability or do they have workman's compensation insurance.  When you obtain a bid make sure that proof of insurance is made available before works begins or any payments are made.  If someone gets hurt - if the contractor has no insurance the injured person is coming after the homeowner next.  By asking for a copy of their insurance up front is a great way of protecting yourself.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Do you have too much stuff?  Have you inherited someone else's stuff?  Do you need to declutter but you do not have the time?  One of the challenges in selling your home in today's market is properly preparing your home in order to get the most money in the least amount of time.  This preparation usually begins with decluttering.

One of the options available to busy sellers in the Omaha area is a company called Hidden Treasures.  Hidden Treasures is a company that handles estate sales.  They will assist with pricing, merchandising and they handle all the details of the actual sale itself.  Many sellers will also benefit in that Hidden Treasures will also accept Visa and Mastercard in order to accommodate more sales.  They also keep track and they are able to give sellers an itemized list of all items and the sale prices. 

If you are thinking of selling your stuff and you need more information you should contact Dan Ostergard.  Dan is passionate about helping folks get rid of their stuff.  Here is a preparation sheet to assist those getting ready for a sale. 

I had the opportunity to hear Dan today at a Omaha Area Board of Realtor function where he was able to explain the details of his service.  I would like to thank Dan for his presentation and this service is invaluable service to sellers who simply do not have the time to conduct the sale themselves.

Thanks,

David Matney,  CRS,GRI

Alliance Real Estate

A radon test is something that you should give serious consideration if you are buying a home in Nebraska.  In the eastern third of Nebraska, 50% of the homes have elevated radon levels.  Here are a few informative and helpful websites to help educate you on radon and it effects. 

www.epa.gov/radon

www.cheec.uiowa.edu/misc/radon.html

www.hhss.ne.gov/radon

www.cancer.org

www.radonnews.org

www.cansar.org

www.lungevity.org

www.aarst.org

www.omaharadon.com

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Radon tests are becoming more common for buyers purchasing a home in Nebraska.  Radon is a naturally occurring radioactive gas that is the result of decaying uranium in the rock and soil.  It is leading cause of cancer for non-smokers in the United States and it is classified as a Class A Carcinogen.  The eastern third of Nebraska is considered to be a "High Risk Zone"  for elevated radon levels.  In Nebraska, there is a 50% chance of elevated radon level above 4 pCi/L  (pico-curries/liter of air).

What can be done to reduce radon levels?  There are two common types of radon mitigation: ASD (Active Sub Slab Depressurization and ADD (Active Drain Tile Depressurization)

Active Sub-Slab Depressurization (ASD)

This method collects soil gases from beneath the concrete floor slab in the lowest level of the home.  This is done by drilling a suction point (a hole that is typically 4" in diameter) through the floor slab, and installing a 4" diameter PVC pipe into the suction point.  This pipe in then run from the suction point to the exterior of the home.  A vent fan is placed in line with the piping to create negetive air pressure.  The radon is pulled from the home instead of entering the home.

Active Drain Tile Depressurization (ADD)

This method can be used if the home has a drain tile waterproofing system around the foundation, the drain tile collects the soil gases.  The sump pump pit is covered and sealed and a suction point is made in the cover of the sump pump.  PVC piping is connected to the suction point and routed to the exterior of the home. 

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If you would like to have your home tested or for more information on radon you should contact a qualifed radon mitigation specialist.  Radon Protection Technologies is a licensed in Nebraska and they can be reached at (402) 639-1100.  I would like to thank Debbie Kalina for her assistance in writing this post.

Thanks,

David Matney,CRS,GRI

Alliance Real Estate 

In the past I have posted several blogs about making the most out of your yard sign.  Here is another way to maximize your marketing with your yard sign.  Promote a unique feature on a separate rider on your yard sign. 

This would be the most effective if you have a listing that has a unique feature that may not be readily apparent from a potential buyer driving through the neighborhood.    Hopefully, this eye-catching rider will encourage potential buyers to pull a flyer from the brochure box. 

In a tough market, sellers need to hire a full service Realtor with a innovative and comprehensive marketing program.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

ServiceOne has been one of our valued business partners for several years.  ServiceOne now offers a $99 home warranty program for homes less than 5 years old.  This a FANTASTIC program for anyone who is selling or buying a newer home and covers repair and/or replacement of major mechanical systems.  For more information visit the ServiceOne website or call (402) 597-2169.

Thanks,

David Matney,CRS,GRI

Alliance Real Estate