Real Estate Information

Sometimes I come across a so-called hot news flash and I nearly laugh out loud.  I've been reading other real estate blogs and one of the topics that keep popping up is the fear of radon gas being emitted by granite countertops.  I'm certain there are isolated instances where such a thing has happened but I'm also certain it's very rare.

The Environmental Protection Agency (Environmental Protection Agency) has advised that if you have purchased "the more exotic and striated varieties (of granite) from Brazil or Namibia" then you had best get your granite tested by an accredited inspection company.  There have apparently been instances where "some granite may emit gamma radiation above typical background levels."  Such levels are not the norm.  It seems it is just another way the media can alarm the public over what turns out to be a non-issue.

Certainly, if you're concerned get the test done.  I'm a strong believer in a home owner's or buyer's peace of mind.  Those granite countertops are beautiful and wonderful to work on.  They increase the home's aesthetic.  They are long lasting.  they are a good investment.  What more could you ask?

I'd love to hear what you have to say on the matter of granite countertops.  take a moment to drop me a lone or leave a comment.  My email address is Marie.Otis@cbshome.com and my phone number is 402-964-4251.  In the meantime, continue on those home improvement projects which enhance your home's value.  You can't go wrong.

Here in Omaha, in every conversation about the economy one comment seems to surface as a positive statement: "At least gas prices are low."   Actually, the best thing about that statement is that it buys us time.  Low gas prices during the economy's low point may be the opportunity we need as homeowners to switch to alternative energy sources.

John Churchill, President of Service One, citing several projections, show "energy prices (electric, natural gas and oil) more than doubling within five years after the economy has recovered."  Why?  The world's waking giant is China.  China is home to nearly a third of the world's population.  China is making great strides as a developing, industrial nation.  Right now China consumes only about 1.9 barrels of oil per person each year.  The United States consumes 20 barrels per person.

If China begins using more and more of the world's finite fossil fuels, then prices will soar.  Remember supply and demand?  Don't despair.  Think alternative energy sources.  Most of all being to install energy star appliances, programmable thermostats, tankless water heaters and learn about green technology.  These are just some ideas. I'd be willing to bet that with some thought many of you could come up with other practical alternatives.

It would be really helpful if we could begin sharing practical ideas for energy conservation and alternatives right now.  We need your ideas.  Please take a moment to share your thoughts with me. I'd love to hear from you.  Use the comments section below or email me at Marie.Otis@cbshome.com or give me a call at 402-697-4251.

I've said it before that Omaha is a "happening place."  It was just announced that George Clooney is coming to Omaha to shoot scenes for a new Hollywood movie.  That's got my heart fluttering!  It's thrilling that gorgeous George is coming to town.  Omaha has been the backdrop for several movies and we're proud of every one of them.

This weekend most people are shopping and cooking for the Super Bowl Sunday parties but Omaha has tons more to offer families.  You may want to fore-go the chips and dip to attend one of the many entertainment offerings.  The Omaha Area Youth Orchestra will present its Youth Symphony Winter Concert on Sunday.  According to the Omaha Arts Calendar the performance will feature the OAYO Alumni Orchestra.  The program takes place at 3:00 p.m. in the UNO Strauss Performing Arts Center.

I suggest you check out the Omaha Arts Calendar for all kinds of great information on events happening in the worlds of music, theater, events and film.  You will be able to find something wonderful for you and your family to enjoy.  Here are a few taking place this weekend according to the Omaha Arts Calendar.

"Omaha Performing Arts and Broadway Across America will present CATS onstage at the Orpheum Theatre, January 30th through February 1st.  CATS is based on T.S. Eliot's Old Possum's Book of Practical Cats with music by Andrew Lloyd Webber.  In 1991, CATS became the longest continuously touring show in American theatre history.

The Teens 'N' Theater's Pride Players is presenting PRIDE PLAYERS: PROJECT 10 through February 1st at the Rose Theater.  This 10th anniversary show includes more than 20 humorous, creative and inspiring pieces presented by teens from area high schools.  The Rose Theater is located at 2001 Farnam Street.

The Blue Pomegranate Art Gallery will present the WOMEN ON THE EDGE art exhibit February 6th and 7th and February 13th and 14th.  The group show is comprised of members of Artists Helping Artists.  Featured media on display includes wood, blown glass, jewelry, sculpture and photography.  The Blue Pomegranate Art Gallery is located at 6580 Maple Street."

There are so many more things listed that I suggest you check out the website.  Whatever you choose to do make it a great weekend.

If you're like me most news items you read today are full of doom and gloom.  The weather is a mirror of the national news.  As I sit here snow is spitting from the sky, it's dark already and it's so cold in Omaha today.  I was feeling really fed up when it struck me that seeds are being planted right now in "the winter of our discontent" that will begin to get us out of this mess.

First, the mortgage industry really got its house cleaned last year.  Already we're seeing the results of that shake up.  Mortgage Rates are down and lenders are loosening up their grip on new loans.  Second, our new President is working to convince Congress to pass a huge economic stimulus package geared toward job creation and infrastructure building.

Omaha real estate is doing just fine.  We are in a buyer's market and there are some very fine deals out there.  Remember, housing is still one of the best long-term investments.  But it's even better than stocks and bonds.  A home will protect you from the cold and snow.  Plant your own seeds of recovery by buying a home right now with the intention of living in it at least 5 years or more.  Believe me it will pay off for you.

Are any of you aware of "seeds of recovery" in the news?  If so, I'd love for you to share them with me. Please write your comments below. Remember you can also call me at 402-697-451 or email me at Marie.Otis@cbshome.com.

This is the question I'm asked continuously.  Whether I’m meeting with clients or having dinner with friends and family that seems to be the question on everyone’s lips.  Just when I’m about to take a bite of sushi or explain how to get pre-approved for a mortgage, someone will ask the question. It’s an excellent question because the media has made it clear to all that the cause of our latest economic downturn was real estate market nationwide.

Point of fact, it was sub-prime mortgages that which triggered the onslaught of foreclosures.  According to the Housing Predictor website Nebraska ranks near the bottom of states in foreclosures.  In addition Nebraska had few of the types of sub-prime mortgages that caused the troubles as well.  Happily, mortgage interest rates have lowered again. That’s the good news.  The bad news is that home sales in Omaha are down by 16% from what they were a year ago. 

Maybe we’ve hit the bottom and there’s no where to go but up.  It’s hard to know when you’ve hit bottom except with hindsight.  Isaac Newton was badly affected by a downturn in the housing market and when asked to comment he said, “I can calculate the motions of heavenly bodies but not the madness of people.”

If any one has insights or predictions regarding the Omaha housing market I’d love to have you share them with me.  Give me your comments below, email me at marie.otis@cbshome.com or give me, Marie Otis, a call at 402-697-4251.

As a Mother of 2 elementary age children, I’m policed pretty carefully when it comes to “living green.”  We carefully recycle plastics, metal and paper every week and we do all we can to reduce our heating, cooling and water usage.  We also changed every light bulb in our house from incandescent to fluorescent (CFLs). 

Now the latest lighting technology showed up spectacularly at the Beijing Olympics.  The new technology I’m told could reduce overall electricity usage and carbon emissions in the U.S. by 15%.  Light-emitting diode (LED) light bulbs lit up the amazing and beautiful Water Cube Aquatics Centre where our own Michael Phelps won all those gold metals.  LED bulbs make fluorescent bulbs look like energy hogs and they last much longer.  You may only have to replace your light bulbs every 15 or 20 years!

The biggest drawback at this time is that LED products are expensive to make.  LEDs currently have a sapphire base.  However, this summer Purdue University created a process that uses low-cost silicon wafers instead.  The technology hasn’t yet hit the manufacturers’ floors but I believe it soon will.  There’s a lot of support for new LED technology in government and industry.  Manufacturers have expressed hope that they will have a viable product for home use in the next 3 to 5 years at a cost of less than $5.

For those of you thinking of remodeling, in the same timeframe, the industry is working on OLED (Organic LED) products.  The result will be lightweight plastic sheets of light using less energy than we use today.  Think of the decorating possibilities.  Are you ready for the future? 

If you have any green suggestions I wish you’d let me know.  You can use the comments section below.  Call me anytime at 402-697-4251 or email me at Marie.Otis@cbshome.com.

As you sit down to consider your goals for 2009 don’t forget to consider your housing in your future plans. Are you going to put your home on the market?  Are you going to remodel or upgrade your home?  Whether you plan to sell or sit tight one thing is for certain.  You house is one of your biggest assets.  And, according to the NAR (National Association of Realtors), it pays to upgrade and remodel your home in Omaha.

Remodeling Magazine in cooperation with the NAR produces a Cost vs. Value Report every year.  This year statistics indicate that nationally home values have fallen 7% while the value of homeowners’ investment in remodeling projects has declines only 3.86%.  This year’s study expanded to 79 local markets of which Omaha was one.  I’ve picked 6 of the top projects with the best return in Omaha.

Omaha’s top projects all fall into the nation’s top projects: decks, siding, windows and kitchens.  Adding a deck, the study shows a resale value of 76.1%.  Improving your home with Fiber Concrete siding gives a 79.9% cost recoup rate.  A minor or major Kitchen remodels show a 73.3 / 72.7% rate.  Replacing windows with new vinyl windows result in a 72.4 recoup cost rate.

It’s important to remember that none of these percentages are guarantees.  NAR recommends you meet with a reputable local contractor to carefully estimate the cost of any job you wish done.  Then contact your real estate Agent to talk about home prices in your neighborhood.  With all the facts you can make an intelligent decision about improving your most valuable asset. 

Please email me at marie.otis@cbshome.com or give me a call at 402-697-4251 to discuss the project you have in mind.  Together we can make certain you achieve your 2009 housing goals.  Happy New Year!!

Burglary is the most common threat to your home.  There are more than 1 million burglaries a year in this country and the number is rising.  Hard economic times lead to increases in theft when it is harder to find work. While many people believe that theft takes place at night, statistically, most occur during the day.  When you are at work or school is when most thieves strike.  Remember, only about 13% of the culprits are ever caught.

You can do a lot to protect your home from thieves.  If a burglar is met with preemptive measures he will most likely move on to an easier target.  Your home’s first lines of defense are the doors and windows.  Adding security screen doors on all entries will prevent thieves from having easy access to your locks.  A stout dowel rod cut to fit the sliding track of a sliding door will prevent it opening.  Track locks will accomplish the same end and are inexpensive too.

Don’t leave your windows open.  While this is not a problem this time of year in Nebraska, it is an easy entry into your home.  If you must leave your windows open in warmer weather invest in track locks for your windows.  This allows the window to be open no more than 2” so you can enjoy fresh air but it will deter a burglar from opening it further.

Simple things such as offering to watch your neighbor’s house in return for them watching yours, keeping bushes and shrubbery cut low, and closing drapes and blinds can help a great deal.  Keep all entries well lit and light up dark spots on your property.  If you can afford it, install a security system.  Best of all, get a dog.  They are still a terrific lines of defense. Dogs have lots of other marvelous benefits as well.

For more home security tips please give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.  As your full-service real estate agent, I’m eager to talk to you.  You have my best wishes for a happy, safe Holiday Season.

I read in the New York Times last Saturday that first-time home buyers may be living in a Golden Age.  Columnist, Rob Lieber, predicts is that what economists will say in 5 to 10 years time as they analyze the past through the "rearview mirror of hindsight." Mr. Lieber writes, “Then everyone who sat on their down payment savings accounts for a few years too long will kick themselves for not taking advantage of what may turn out to be the buying opportunity of a lifetime for those who can qualify for a mortgage.”

According to Mr. Lieber, first-time homebuyers have a lot of advantages right now.  First, they don’t “have to sell their old place before buying a new one.” Second, housing prices have dropped and third, interest rates are low. 

But before you take the plunge Mr. Lieber suggests you stick to the basics such as making certain that the mortgage payment, taxes and insurance will not exceed 28% of your pre-tax income.  He warns that even if your lender were to pre-approve you for more that you hold yourself to the mark.  You may find it necessary to get your credit rating score as high as possible.  If you find your credit score less than 720 then you need to stop using your credit cards for several months and pay down the balance.  Make certain you make every payment deadline as well.  If your credit score is above 720 you can qualify for best mortgage rates.  Still, to be safe, I would ask your mortgage lender what credit score they require before granting the best rates.

Finally, consider staying in your new home for a considerable length of time - say 10 years – if you wish to make money on the large investment of a home.  Who can say how quickly the economy will recover?  Buying a home is a long-term investment.  If you’re considering venturing out into the housing market, give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.  I know the Omaha Metro Real Estate Market so let me be your guide.

We have all heard the adage that a bride never just marries a man but his entire family as well.  Well, the same is true when buying a home.  If you are considering the purchase of a new home please consider the following.  If you have children it’s important to know about the schools they will be attending.  Your agent should have access to reports that can give you all kinds of information and statistics about the schools in the new neighborhood.

Before you sign on the dotted line contact the local police or sheriff departments to get crime statistics for your neighborhood. The correct department and phone number or websites are another thing a good agent will make available to you. 

But general safety is a more subjective matter.  Drive through the neighborhood you are considering.  It is recommended that a potential resident should drive through the neighborhood during the day and again in the evening.  By law, your agent can’t offer an opinion about whether a neighborhood is safe or not.  So this is a task you must tackle on your own.  Believe me when I tell you it is certainly worth the time and effort.

If I can help you with school information or crime statistics be certain to give me a call at 402-967-4251 or email me at marie.otis@cbshome.com.