Real Estate Information

  Here’s the harsh reality: Homebuyers do not want a house that stinks.

In today’s market, if you want to sell your home it must look better, it must be better priced and it must SMELL better than the competition. Once you are living with a smell it becomes difficult for the homeowner (you) to detect. The best thing to do is have a friend or neighbor do a “sniff” test for you. 

I have to admit that I would rather stand on my lips than tell a client their home has an odor.  It is not in my nature to jeopardize my relationship with my Seller. In circumstances like this I have my fellow Realtors tour the home and ask them to sniff. My colleagues seem to have no trouble offering the brutal truth on their comment sheets.

The two main culprits of smells are pets and cigarettes.  Pets can smell and frankly, many people don’t like that great dog aroma or cat box fragrance.  The sad truth is that your animals may have to be boarded during the selling process.  If not, then the Seller must go to great lengths to keep the odors at bay.

If cigarettes or cigars are the issue the house must first be cleaned down to the “bone.”  Professional painters have products that are effective at getting out the cigarette residue.  It is a smart idea to ask for expert advice on this matter.  Then, if you must smoke it will be necessary to light up outside the house. Don’t throw the butts on the ground as that is a turn off for Homebuyers as well.

Many people believe they can mask smells with plug-ins or bowls of potpourri but let me tell you – they can’t compete with animal and cigarette smells.  Take this advice seriously and make your home smell clean and fresh.

When you’re ready to put your home on the market please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com.  I want to hear from you.

It’s never been a better time to buy a home. I know you’ve heard that before but with interest rates at below 4%, and lot of houses on the market, the words have never had a truer ring.  I’m certain you’ve heard it’s harder to get a mortgage loan these days so please take note of the following and don’t sabotage yourself during the process.

1. Check your credit months before you apply. Get all errors corrected. Get your credit scores up. The public can see their credit scores for free once per year at AnnualCreditReport.com. Check it out.
2. Don’t apply for new credit cards just before and during the mortgage application process. Don’t apply for an auto loan or furniture loan during this time.  Concentrate on paying your bills on time to build up your credit score.
3. Before you apply for a mortgage consider what your total housing cost will be.  So many people just figure their monthly payment on the cost of the house. Here is what you must figure: the Principle (cost of the house), Interest on the loan, annual Taxes and home Insurance. Remember the formula as Principle/Interest/Taxes/Insurance or PITI. My in-house mortgage loan officer, Brad Dombrosky (402-964-4624), told me to tell you to pay attention to your Debt-to-Income ratio as well. It should not be more than 36-40% of your gross. To figure your Debt-to-Income ratio take the proposed cost of your PITI plus all other monthly debt payments divided by your gross monthly income.
4. Mortgage underwriters are looking for borrowers with steady employment and a steady income. Don’t change careers during the process. Wait until you close on your home and mortgage before accepting that new career change.
5. Omaha market experts require that you “season” your assets. Make certain the funds for the transaction have been in your account for at least 2 or more months. Too many borrows believe they can transfer monies from a relative’s account just days before applying for a mortgage. Underwriters will track down all paper trails with regard to your financial situation. They will not be happy with a recent transfer of funds.
6. Get a Pre-Approved Letter. You may have heard that you need to be “pre-qualified” before you begin a house search. I strongly urge you to get a pre-approval instead. This is much stronger because the bank pulls your credit, looks at your income, assets, employment and your debt-to-income ratio. Then your lender gives you a written per-approval (if you pass their guidelines).  This letter shows your potential Seller that you are serious buyers and that will go a long way in the negotiation process.
7. Please comparison shop for a mortgage.  This does not mean you must approach 10 lenders or even 5. It is a smart idea to get at least one second opinion or perhaps two. Be certain to ask each to provide you with all closing costs so you know the fees, costs, etc. You don’t want any surprises at the closing table.
8. Don’t go chasing some exotic loan program.  Get a fixed rate mortgage or make certain you’ve read and understood everything the alternative program is offering and the consequences to you. So many people got caught in the last recession with balloon payments, late fees, interest, etc. Many eventually lost their homes.
9. Don’t forget to lock in your rate once you decide. Rates have been changing several times a day in this volatile financial market so get your lock in writing.

10.  Let me emphasize this again: PLEASE READ AND UNDERSTAND ALL YOUR MORTGAGE DOCUMENTS. Take the time to ask questions and get answers that make sense to you. If you feel you need some help with this then ASK for help. In fact, ASK, ASK, ASK!

Okay, this is a big responsibility. This process is nothing to take lightly. When you’re ready to proceed give me a call at 402-670-8775 or email me at Mare.Otis@cbshome.com. You need a strong Agent to help guide you through this process. I’m that Agent.

 The tenth anniversary of the 9/11 tragedy is being commemorated in Omaha with a free world-class concert in Midtown Crossing’s Turner Park.  The Omaha Symphony is pairing up with the Heartland of America Band’s Brass in Blue from Offutt Air Force Base. Added to this powerful instrumental performance will be the voice of Ronan Tynan, former member of the Irish Tenors and a “world-renowned” singer. 

The performance is entitled Remembrance, Musical Celebration of American Spirit.  The conductor of the military band, Captain Michael Hoerber, was in Washington D.C. the day of the attack and James Johnson, President and CEO of the Omaha Symphony, was living in New York City.  When planning the concert both men “agreed that what brought us together in the days after 9/11/01 unites us today: a desire to connect with loved ones and to prove to the perpetrators of those horrible deeds that the American spirit remains unbowed.”

The concert is scheduled to begin at 6:30 p.m. and will last approximately 90 minutes. The weatherman promises it will be perfect weather but in case of rain the concert will be held at the Holland Performing Arts Center.

Please join my family and me at this outstanding tribute concert. I will end with these words from the concert organizers, “Our hope is to come together to offer tribute to those who paid the ultimate price for our freedom that day and in the years that have followed.”

Come, enjoy and walk the 2011 Street of Dreams!  You and your family can take a walk through 8 one-of-a-kind homes that have been designed and built specially for the event.  Each home showcases one of Omaha's finest builders and their expertise in the latest trends in upscale living.  

This year's builders include:    Ideal Designs Custom Homes

                                                Todd Menard

                                                Birchwood Homes

                                                Belt Custom Homes

                                                Royal

                                                Nathan Homes

                                                Prestige Homes, Inc.

                                                John Caniglia Homes

According to the official website, “The 2011 Street of Dreams will showcase the latest trends and the most innovative ideas for home building, architecture, interior design and landscaping--all in one location.  Whether it is the design, building materials, layouts, decor, landscaping, or electronics, the Street of Dreams is Omaha’s #1 inspiration for a high-end, high-quality lifestyle.”

Located in one of Omaha's newest and most desirable neighborhoods, Tuscan Ridge is just south of 202nd and Pacific.  Residents will love the close proximity to the new high school, Elkhorn South, and the new middle school opening in 2011. Most of the lots in this neighborhood are walkout lots and many of them have mature trees.

Tickets are available online for $9 (you will pay $10 at the door).  If you wish you may purchase a Super Pass for $25. Then you show a photo I.D. at the gate and you will be issued a pass card. The Super Pass will allow you unlimited access throughout the event. Remember, the street of Dreams will be closed on Mondays and Tuesdays so plan accordingly.

The organizers urge to bring friends and stop by the Bistro Tent provided by No Frills Fresh where you can sit, grab a bite and chat about the ideas you've seen.  An award-winning chef from No Frills Fresh will even share several cooking demonstrations on site in a state-of-the-art outdoor kitchen. During the 3-week celebration, unique events and attractions are on the schedule each week.  Be on the lookout for special interest tours, demonstrations and food that you won't want to miss!  

The Street of Dreams is possible thanks to its premium sponsors for their support. A few of the sponsors are: First National Bank of Omaha, Nebraska Furniture Mart, Metropolitan Utilities District, Omaha Public Power District, Baxter Ford, Baxter Chrysler/Jeep/Dodge, Omaha State Bank, Kinetico, Northwest Bank, Classic Marble and the Make-A-Wish.

We all need dreams. If you are ready to fulfill your dream of buying or selling a home please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. Together we will find that special home on your own Street of Dreams.

The Omaha area has wonderful festivals throughout the year.  Just this past weekend we had Millard and Dundee days. Each held wonderful events with rides, games, great food, parades and even a beer garden or two.  Offutt Air Force Base put on a spectacular air show that took your breath away. But one of my favorite festivals is still to come.

The 43-year old apple harvest festival in historic Nebraska City will be held the third weekend in September. The official celebration begins on Friday, September 16, and runs through Sunday.  The festival was ranked in 2006 as one of the Top 10 Fall Festivals in North America by the Society of American Travel Writers.

Of course there’s a parade. This one boasts over 30 marching bands. Automobile buffs can attend the classic car show; quilters the fabulous quilt show. In fact, there are all kinds of crafts shows and Nebraska City and its environs are filled will antique shops.  Yes, there are rides, face painting, live music and wonderful food vendors.

 It’s so much fun to take the family to Arbor Lodge the former home of J. Sterling Morton, one of Nebraska’s brightest stars.  Among other accomplishments, Morton established the national Arbor Day and the abundance of trees in the area are attributed to his efforts.  Out-of-towners can arrange to stay at the beautiful Lied Lodge. Its rustic architecture is a site to behold and the amenities are a delight.

Best of all, my  family loves to visit the Orchards to learn more about the apple harvest and to pick our own apples or stock up on all of the tasty apple treats!  It’s amazing how many varieties of apples there are for sale.  You can watch how apple cider is made and watch a man make kettle corn in a huge kettle. We always come home with plenty of goodies.  

This is a great one, folks. Please grab the entire family for a trip down to the festival.  It’s a gorgeous ride.  I can smell the apple pie now. Yum. Don’t miss it.

When you’re ready to buy or sell a home don’t hesitate to call me at 402-670-8775 or email me at Marie.Otis@cbshome.com.

The American Dream. For 67% of Americans the American Dream includes owning and living in their own home. We here in Nebraska are no different. The National Association of Realtors (NAR) has studied this issue and have come up with some facts that should interest those who own and home and those looking to own one. Here they are:

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% this 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 there are many more reasons home ownership is good for the people, the community 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 email me at Marie.Otis@cbshome.com. Owning a home is a dream worth pursuing and one that’s attainable for nearly everyone.

   It’s back to school time in Omaha

Whether you’re a parent or just a resident of our fair city please remember that school starts tomorrow.  My children are ready to get back into the school groove and I’m asking all adult and student drivers to remember a few simple safety rules.

The first rule begins at home. Give yourself plenty of time in the morning so you aren’t rushing to drop off kids, get to work or get to classes on time.

Please get rid of distractions in the car. Please, absolutely no texting or talking on the phone when driving. I know this is a hard rule for most people. We all believe we can multi-task but research has shown this to be a fallacy. Put away your lipstick, comb and keep your eyes on the road.

Before you leave the driveway make certain there are no children or toys blocking the way. Children don’t always make distinctions between a sidewalk in front of a home or a driveway. You’re the driver. It’s your responsibility to make certain no person is in danger before you back out of the driveway.

Drive a bit more slowly. It’s 25 mph in most neighborhoods so obey the speed limit.

Double check at crossroads. Children will be in the cross walks so pay attention. Especially watch for the kid running down the street; they’ve been known not to stop before running into the street.

Here’s a rule that many people seem to forget from their driver’s manual. School buses flash their red brake lights when stopping and there is a stop sign on the side of the bus that swings out. DON”T TRY TO PASS THE BUS. When a bus is stopped, children are getting off and many cross the street at this time.  Please wait patiently before proceeding.

These are simple rules but please be careful.

There are also rules to obey when buying or selling a home. Please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. I will make certain everything is in order so you get into your new home safely.

I’ve said it before and I’ll say it again. The time has never been better to buy a home.  Unfortunately, the number one reason people can’t buy is because of their debt load. It is a more demanding climate in the mortgage world and people have to prove they are a great credit risk. That proof begins with a great credit score.

There are all kinds of articles written about how to reduce credit card debt.  There is always one proposing some slick way to camouflage a lot of debt.  Believe me, the underwriters will spot tricks. Your best bet is to determine what motivates you and stick with it until your debt is under control.

For some, who  get excited about the feeling of paying off a card one at a time, then begin with the smallest debt first. When that’s paid off then quickly begin on the next highest debt.  That feeling of accomplishing smaller goals can snowball into enthusiasm for tackling the next highest and so forth.

There are those who are kept up nights about the amount of interest their debt is racking up on a particular card.  For those people it makes sense to tackle that credit debt first. If you have a card that carries at least 30% of your credit line then you will want to get out from under that interest that’s crushing you every month.

It is often advised that a balance transfer is the best bet.  Please don’t do this with getting out your calculator and satisfying yourself that it will really be a savings. You have to consider not only the interest rate but the fees as well. If the new card is offering 0% interest several months then do the math.  If you take the amount of your debt divided by the number of 0% interest months, determine if you can afford to pay off the debt in that amount of time. 

Also, don’t risk a credit transfer unless you have two things. First, have a solid plan to pay off the debt and second, the discipline to stick with it.  Just don’t move debt around and don’t open any new accounts if you’re thinking of applying for a mortgage.  The mortgage lender is not going to be happy with additional debt.

Finally, I’m a firm believer in having an emergency savings fund.  Anything can happen. Life turns on a dime and you must have enough cash to see you and your family through.  The bottom line is that people have to manage their money and their debts or debt will manage them.

If you’re ready to talk to a mortgage lender give me call.  I can steer you to someone who will help you get your money under control with the end goal of buying a home.  Call me at 402-670-8775 or email me at Marie.Otis@cbsohme.com. There is a way out of debt and into a home.  Let me help.

Omaha is doing so well that one newspaper man has renamed it “Omahot” (and not just because of the weather). We’re #1 on Kiplinger’s Personal Finance list of the top “great value cities” in the U.S. of A.  Later in the week Forbes named Omaha #5 of the best cities for young professionals.

The Kiplinger’s rating was based on our low unemployment rate, a low cost of living, great cultural offerings and overall “economic vitality.”  Forbes cited the low unemployment rate, the low cost of living, a nearly 32% population with college degrees, plenty of large and small businesses, good projected job growth and a median income of $45, 400.

Those of us who live here know Omaha is a wonderful place to put down roots. A couple decades ago, young people used to pour out of the state in droves but now with a strong, vital entrepreneurial environment, young people are staying right here.  We have seen a completely revamped downtown and riverfront in the past 20 years. The city has worked hard to improve the cultural and lifestyle venues with the Qwest Center, the Holland Performing Arts Center and T.D. Ameritrade Park.

We also have so many cultural offerings in Omaha. This weekend is the Indie-fest with all kinds of bands performing. Film Streams, an art house movie theater, has numerous integrated arts activities for people of all ages and interests.  We have lots of college and universities in the area and the young people keep Omaha vibrant.

Kiplinger commented on Omaha’s “impressive economic momentum.” There has been much private investment development in Omaha too with the expansion of several local businesses and the Fortune 500 businesses headquartered here. Forbes says that, “Healthy job growth is projected in all of these heartland hubs (Omaha, Des Moines and Minneapolis-St. Paul) as well.” The Omaha World Herald pulled a line from the Kiplinger report I just love: “Omaha is home to ‘arguably more millionaires per capita than any other U.S. metro area.”

It’s a great feeling to be living in a city that is constantly improving itself and growing.

If you are thinking of moving to Omaha, or if you live here and want to buy or sell a home, please call me at 402-670-8775 or email me at Marie.Otis@cbshome.com. Let me show you more of Omaha and the fine homes we have to offer.

When you’re looking for a home you want to consider 3 things: location, location and location.  When you’re looking to sell a home the 3 things to consider are clutter, clutter & clutter.  So many people believe what furniture they buy, what pictures they hang or what collections they display will entice others to buy their home.

If your Realtor is worth their salt they will have advised you that it is really time to stow your precious things. The goal is to sell your house. So forget displaying your treasures and concentrate on packing things and storing them until you’re in your new home. You can rent a storage unit of nearly any size and load it yourself for a low monthly rate. Some storage units will even provide packing materials and boxes.

There are companies who will deliver a storage unit to your home. You can load it and, when ready, call the company and they will pick it up and store it in a warehouse. When you’ve moved into your new home the company will deliver the unit to your new place.

Here are some important tips when selecting storage.

1. Completely understand the liability of the storage company and the services you are receiving.
2. Ask about additional charges. As example, there may be a wrapping charge to wrap your furniture or if you’re storing appliances they must be serviced to prevent mildew. Some companies may charge you for moving items from one location to another within the warehouse (i.e., moving items from the unit to the loading dock).
3. Go to look at the facility in person. Make certain there is no evidence of water, rodents, etc. While you’re there check out the security.  Is it to your satisfaction?
4. Check the hours you can get into the facility. Make certain it is open when you need it.
5. Make a complete inventory of all items you store.
6. Purchase depository insurance. Make certain you insure your goods to value. If you are not adequately insured you will suffer a penalty if a loss should happen.
7. In self-storage it is important you wrap your furniture yourself. Only use old sheets or blankets. NEVER use plastic. It will trap humidity and cause condensation ruining your furniture.
8. It is advised that you don’t use a storage facility with sprinkler systems since a small fire could set off an alarm and ruin your goods.

Do yourself a favor and start packing and moving your things out of your home. De-clutter is great advice. Please do it.

Do yourself another favor and give me a call if you’re thinking of buying or selling a house.  I can give you the advice and counsel your require to get your dream. Email me at Marie.Otis@cbshome.com or call me at 402-670-8775.