Real Estate Information

Is this a good time to put my house on the market?  I hear this question a lot and the best answer I can give is it depends strictly on your personal motivation.  Yes, the market is improving. Houses are selling. But is this the best time for you to sell?

If you can no longer afford your house then, yes, you should probably put it on the market.

If you have been transferred or have found another job outside the state then, yes, you should probably put your house on the market.

If you have already purchased another house and you can’t afford the two mortgages then, yes, you should probably put your house on the market.

If your extended family is now living with you and you have to step over bodies to get to the kitchen then, yes, you should probably put your house on the market.

There are a million more reason to sell our home. Chances are you won’t get as much for your home as you wish. The market is getting better but who knows what will happen tomorrow and just what price the market will set for your house.  It is the market that determines what your home will sell for; not you or the Realtor.

If you’re uncertain about whether you want to move sit down and write out what it costs you each month to live there.  Include your mortgage payment, homeowners insurance, utilities, taxes, and costs of maintenance such as lawn care and snow removal.  Total it up and determine if your current lifestyle is worth the cost.

If not, then are you motivated enough to sell now?  Only you can determine that. 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.  With my expertise and your motivation to sell we will get the job done as quickly and painlessly as possible.

Most of us want to breathe easy in our own homes.  Air quality is so important.  Many people are plagued with allergies and respiratory problems and they may need special advice.  The rest of us can mark our calendars and change the furnace filters once a month.  This will go a long way toward making the air quality of our homes much better.

Money is another big consideration most of us have as well.  Let me assure you that changing the filter regularly will make your furnace run more efficiently and save you money in the long run. If you have a washable filter make certain you keep it clean.

Have you ever thought about the filter on your humidifier?  According to most manufacturers, the filter on your humidifier should be changed every three months.  According to Service One, a locally owned, home repair business, “As a humidifier operates, it pulls in air and returns it to that room as either a cool or warm mist, depending on your type of humidifier.”

 As this process occurs, dust and particles get trapped in the filter so cleaner air reenters the room.  If the filter is not changed it becomes clogged with dirt and stops being efficient. Even worse, it can ruin the humidifier and cost you more money.

Service One reports the scariest thing is that the dirty humidifier “could also be returning dirty air and mold spores to your room…” Yuck!  Don’t skip this cheap and simple way to maintain your home. 

When you’re ready to buy or sell a home in the Omaha area please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com.  

I was surfing the real estate news this week and I ran across a fascinating article on Yahoo Finance.  The article was entitled, 7 Things You Didn’t Know Affect Your Credit Score, by Jason Steele of Investopedia.com. Well, after reading the article I thought I should share it with you.  I’ve included a link to the piece at the bottom of this blog.

Did you know that unpaid library fines or parking tickets can affect your credit report and score? Yes, even local governments can report to the credit bureaus if you try to ignore fines. 

Another one that took me by surprise is that the IRS reports to the credit bureaus. The horrible thing about not paying your taxes is that it can remain on the credit history for up to 15 years!

Pay your utility bills on time. Jason states that such entities are very quick to report missed or late payments to the credit bureaus.  Who knew?

Jason has some other eye opening points in his article so take some time to read the entire piece. The link: http://finance.yahoo.com/news/7-things-didnt-know-affect-210810566.html

Just remember Jason’s advice. Be certain to check your credit score occasionally. Challenge errors and pay your bills on time. Your credit score has to be very good so you can get the mortgage for your dream home.

When you’re ready give me a call at 402-670-8775 or email me at Marie.Otis@cbsome.com. I know strong, effective mortgage lenders who can give you the best rates possible. 

A short time ago the Omaha World Herald ran an article about a statement by Warren Buffet on the inequity of tax rates. A national columnist wrote a rant about the tax rates for Warren’s staff was high because he paid them ridiculous salaries. Turns out that columnist was just full of hot air (no surprise there).

HOWEVER, it seems most people missed what I consider to be the most important part of the article. Debbie Bosanek, Warren’s Executive Secretary, recently purchased a second home in Arizona and passed along real estate advice she received from Buffet.

"I just thought it was time to buy a home," she said. "Warren tells me that it will be the best opportunity in my lifetime. Mortgage rates are low and prices have dropped dramatically. Getting a nice home in a great climate for only a $30,000 down payment and a mortgage that has a low interest rate — I've been working 37 years and saving for an opportunity like this.”

Did you read that?  “Warren tells me that it will be the best opportunity in my lifetime…” Folks, it doesn’t get any clearer than that. Even America’s most savvy investor believes NOW is the time to invest in real estate.

In the World Herald article Debbie goes on to say, "I share Warren's view about the future of America, and we believe that our country will do just fine. I'm happy to make this investment.”

Well, I believe it too, Debbie. To any of you who believe now is the time to buy or sell property I ask you to give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. An opportunity of a lifetime awaits you.

I recently came across an interesting statistic: in 2001 69% of buyers used a Realtor/Broker to purchase a home. In 2011 the percentage of buyers who used an Agent was 89%.  The National Association of Realtors (NAR) says this has been an upward trend during the last decade.

It’s no surprise to me. Most buyers want a professional to help them find and purchase what may be the largest investment in their lives. A Realtor is a professional who has finished a great deal of course work and taken a test to get their license. In Nebraska, a Realtor is required to take 18 hours of Continuing Education every two years. The courses must be approved by the Nebraska Real Estate Commission and pertain to some aspect of real estate. Some Realtors, such as me, also earn real estate designations in many specialized areas of the industry.

Such designations and my extensive experience give me the knowledge to explain the pros and cons of different types of housing. For example, I can tell you what to expect when you buy into a condo as compared to purchasing a single family home. My knowledge about the local real estate market is another reason why a buyer wants and needs me in the process. I can research what happening to home prices in specific areas which interest a buyer. I can guide a buyer toward making an offer that will eventually be accepted by a seller.

As a Realtor, I also have access to ALL properties for sale in the Omaha Metropolitan Area. Whether a property is listed by another Agent, another real estate company or by the homeowner I can make arrangements to get a buyer in to view the property. Today’s market is also full of complications such as bank-owned, short-sales and foreclosures. A buyer needs a Realtor to guide them through these processes.

Realtors can guide and protect buyers from making mistakes during the buying process. Make certain you have a Realtor who is on your side in all negotiations. While it is possible in Nebraska to handle both sides of a transaction (representing both the buyer and the seller) I don’t make that a practice. I represent either the buyer OR the seller; I’m vigilant about protecting the interests of my client.

If you are interested in buy or selling a home please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. I know I will be a good choice for you.

My Dad taught me pretty early in life that a homeowner does not leave what he called “widow-makers” hanging in the trees on your property. For those of you who don’t know, widow-makers are loose or torn tree limbs which have yet to fall from the tree. Another term for diseased, dead or broken branches is “deadwood” and it causes the tree stress if not removed. The tangled branches may not look very threatening from the ground but if the wind should shake one loose – well, they can hit a passer-by pretty hard. Hence, the names: widow-maker and deadwood.

Regular tree maintenance also increases safety, but did you know that a professional can determine if you have a structurally weak tree? An Arborist may suggest bracing or cabling to support a weak branch. A little bracing now may increase the tree’s strength as it grows.

Heavy foliage can add a lot of weight to a tree. If not pruned regularly, the extra weight can weaken branches and cause problems. Pruning also ensures that enough sunlight gets through the leaves so that grass can grow under the tree. Bald spots are not attractive on lawns so this issue is also one to be aware of when considering tree maintenance.

As a Realtor, I know that well cared for trees enhance the looks and desirability of a home. It’s important to maintain trees if you are considering selling in the future and pruning can enhance the natural lines and looks of the tree. Curb appeal is vital in today’s market.  An Arborist can shape your trees so they are a thing of beauty.

If you are thinking of buying or selling please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. 

An overwhelming majority of Americans value homeownership in this country and would strongly oppose any attempt by legislators or the government to undermine, weaken or eliminate tax deductions or diminish an American’s ability to obtain an affordable home mortgage. 

A National Association of Realtors (NAR)-sponsored poll was conducted between Jan 2-5 of this year. It was conducted by both Republican and Democratic polling firms to determine the value Americans (both home owners and renters) place on homeownership. Three out of Four potential voters believe that owning a home is the cornerstone of the American Dream.

In the past year there have been several surveys about Americans and homeownership and they all have the same results within a few points.  However, this was the first one where people were identified as Democrat, Republican or Independent.  The value of homeownership was the same across party lines with 84% of Democrats, 71% of Republicans and 71% of Independents.

The survey also revealed that 73% of voters oppose elimination of the mortgage interest deduction and 68% would be less likely to vote for a congressional candidate who proposed to abolish the deduction. Voters were also against any and all amendments to harm homeownership.

Celinda Lake, President of Lake Research Partners (one of the polling firms) said, “With the 2012 election season in full swing, candidates running for the White House and Congress would be wise to heed the will of the American voters, who have expressed broad support for government policies that encourage homeownership and oppose efforts to make it more difficult to get a home loan and to tamper with the mortgage interest deduction.”

There are so many findings in this report that I’d love to share with you. If you are interested please give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com.  Also, anytime you are ready to buy or sell a home please give me a call. I’d love to be part of your quest for the American Dream.

Brrrrr! The bottom dropped out of the temperature this week. As I stepped out of my car after work I could smell several of my neighbors were enjoying a fire in their fireplaces.  With very little encouragement my husband got a roaring fire started in our own fireplace.  We enjoyed the extra warmth and family intimacy around the fire that night.

The next morning I glanced at the cold ashes and made a mental note to get them cleaned out before the weekend.  I also made a mental checklist to call a chimney sweep.  This is the time of year for lovely fires but it also the time of year when news articles begin appearing about people being overcome by carbon monoxide.

According to the Metropolitan Utilities District (MUD),” carbon monoxide (CO) is a gas that can be produced by incomplete combustion when carbon-based materials – wood, propane, charcoal, natural gas, oil, gasoline and kerosene – are burned.” Carbon Monoxide has no odor or color so it isn’t easy to detect.  However, people do experience symptoms such as headaches, dizziness, vomiting, nausea, weakness and tightness of the chest.  If the symptoms disappear when you go outside then it’s time to call the professionals for immediate help.

The best choice is to do all you can to prevent CO problems. Here is what MUD recommends:

1. Have a licensed heating contractor inspect the heating system and appliances every year.
2. Never use a gas range to heat your home.
3. Keep flues and chimneys free of debris. (Here’s the fireplace chimney sweep tie-in!)
4. Clear snow and ice from exhaust and combustion air vents for gas appliances.
5. Use a clean filter in your furnace – Standard air filters need to be changed once a month during the heating season! Check the owner’s manual.
6. Do not operate a BBQ grill in a closed area, such as the garage.
7. Don’t start or run gasoline-powered equipment in a closed area.
8. Check for rusted or pitted flue pipes from the furnace and water heater. Don’t’ patch the pipes; replace them immediately.

If anyone is overcome by CO call 911 immediately, get lots of fresh air to the victim and make certain all people and pets are out of the house.  The safety of you and your family is paramount. So keep warm by enjoy your crackling fire, cranking up the furnace or taking a nice hot shower.  Just remember to follow through on the CO prevention tips listed above for worry-free comfort.

When you are ready to buy or sell a home please call me at 402-670-8775 or email me at Marie.Otis@cbshome.com.  

Whenever the subject of how to buy real estate comes up in a conversation, someone will point out that the greatest factor is location. Article after article will state unequivocally that location is most important. I’ve mentioned it several times in this blog as well. Location is an important consideration. But what does it mean?

The National Association of Realtors (NAR) decided to find out the answer and surveyed buyers. To 67% of buyers, location was tied to the quality of the neighborhood. The second highest answer was convenience and the third was affordability.

Quality, Convenience and Affordability of the location are at the top of the list. The NAR broke it down even further to include the following:

                Good Schools                                                    Access to Transportation

                Nearby Amenities                                           Area Architecture

                Reputation                                                         Parks and Outdoor Spaces

                Low Crime Rates                                              Neighbors

                Stable Home Values                                       Proximity to Culture

As a buyer it is important for you to determine what aspects of location are important. It could be the most important reason is that you’re close to work or that your children can walk easily to schools and to the park. Whatever you decide it’s important you have a plan and that you share it with your Realtor.

As a seller it is vital to market you home wisely. Emphasize the features of your location. Maybe you have a bus stop on the corner or are just minutes from the Interstate. If your neighbors are great then use their actions and comments to market your home. 

Location is important. As your Realtor I can give you tips to assess each neighborhood. I would like to work with you to find your perfect location. Give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. 

The Otis family is flooded with the Christmas Spirit as we approach the big day.  In Omaha it is easy to get your spirit on.  If you’re having trouble easing into a loving, peaceful place then here a few tips on where to go to find it.

First, pack the family into the car some evening and start driving around the city looking at the beautiful lights.  With everyone vying to spot the most fantastic display and between all the aaahhhing and ooooing you just night find yourself in a happy mood.   Perhaps you could start in downtown Omaha.  We have been celebrating the Festival of Lights since the day after Thanksgiving.  The million twinkling lights are just beautiful.

Downtown has other sights as well.  The Old Market is celebrating Dickens in the Market. Carolers dressed in period clothes, horse-drawn carriages carrying loads of happy people, stores full of gifts and treats and wonderful Christmas lights and decorations make this a grand destination for the entire family.

Stop in at the Durham Museum just south of the Old Market and stare in wonder at the enormous Christmas tree.  Take a few minutes to view the movie costume exhibit as well.  This is place to capture the peace and joy of the season.

As you continue south it may be a good idea to stop at Lauritzen Gardens to see the magnificent poinsettia tree. The tree is made up of 7,000 poinsettia plants. There are also some antique sleighs, and a model train that’s worth seeing.

The Mormon Trail Center is holding a Gingerbread Festival. You and your family can taste delicious gingerbread creations and gaze at beautifully decorated Christmas Trees.  The Boystown Visitor Center has an interesting display of Christmas themed postage stamps.

Some night this week arrange to take the family to see The Christmas Carol at the Omaha Playhouse. This timeless classic is a tradition in Omaha and has done great job of getting the community into the Christmas spirit. You see, there is no reason not to take time out this week to have some fun, see some sights and play with your family.

Merry Christmas to you all.