The first thing to do is take a good look at your driveway and sidewalks. If there are cracks or uneven patches it is time to get them repaired. You may be able to do the work yourself or it may be worth it to hire a professional. If your cement is stained and discolored only then it may be a good idea to invest in a can of concrete stain. Stain can make tired concrete look new and inviting. It is best to choose a color that will complement the color of your home.

Speaking of color, you can add a bit of pizzazz to your home by painting the front door. If you have a white house you can paint the door any primary color and it will look great. The best thing about paint is that if you don’t like the color you can always change it.

I know it’s still a bit cool but you can put out potted plants that will give your house another bright pop of color. Granted you may have to take them into the garage during the night if the temps are below freezing. Even some annuals are hardy enough for planting if you cover them when it’s cold at night. A huge tip for making your yard look well tended is to add . I’ve included a great video below from DYI which will tell you all about mulch. It’s worth watching.

The last thing you can do is trim or shape shrubs and trees. Planting should add a frame or border to your home. It looks unsightly when shrubs grow too large or tree branches brush the house. You can tackle some of these tasks yourself or hire a professional to spruce things up. Improving curb appeal has shown to increase not only your property's value, but also the property values of your entire neighborhood.

If your home has been on the market a while or even if you are getting ready to list your home take my advice and take a good long look at your home from the curb. It’s time to jump into spring. If I can assist you in selling your home please give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.

I went to the website and here’s what I found: “Omaha Public Power District (OPPD) offers energy credit refunds to its residential customers for installing high-efficiency heat pumps through their Energy Conservation Program. For high-efficiency electric heat pumps larger than 1.5 tons with a SEER rating of 13 or greater, OPPD will pay between $300 - $650 (depending on SEER). OPPD will also provide $50 per unit for heat pumps 1.5 tons and smaller.  
 
The rebate is available to any customer who either purchases and installs a new high-efficiency heat pump in a new residential structure, or replaces their existing standard air conditioner with a heat pump and is using natural gas or propane for supplemental heating. Customers who install a heat pump are also eligible to receive the special Energy Conservation Rate, which is the same as the standard residential rate except for a lower last rate block during the winter billing period (October through May). To qualify, the electric heat pump must supply at least 50 percent of the space conditioning requirements for the structure and have an outdoor thermostat setting of 20° F or lower.  
 
Existing all-electric homeowners who replace their standard A/C with a heat pump qualify for the lower winter electric rate only, they do not qualify for the energy credit refund. Not all heat pumps qualify for this program. To determine which heat pumps qualify, customers can call their heating contractor or OPPD's HVAC Technology Department at (402) 636-3753 or 1-800-648-2658.” 

The “Metropolitan Utilities District of Omaha (MUD) offers $100 rebates to their residential gas customers who replace existing natural gas furnaces and water heaters with new, high efficiency models. Dual fuel or heat pump systems are not eligible. New furnaces must have an energy rating of at least 95% to qualify for the rebate. High efficiency natural gas water heaters must have an Energy Factor of 0.82 or higher to receive rebate. Interested customers should submit a signed and completed rebate form, along with a copy of proof of purchase to the utility.”  

To apply, you'll need to print forms off the Web and mail them in with qualifying proof of purchase. Keep the original receipt for the new appliance, this may be requested. It’s best to contact either OPPD and/or MUD before you purchase anything.  They will be happy to guide you so that you get the rebate to which you’re entitled. It would also be a good thing to ask them when you will receive the rebate. If it will be several weeks then you need to take that into consideration when formulating your purchasing plan.

Also ask about how to dispose of your old furnace or air-conditioner. They may have incentives for you if you dispose of it in an environmentally safe way.

Remember, the federal energy efficiency tax credit, in effect through this year, which gives a 30% credit up to $1,500 for the purchase of certain heating, cooling and ventilation appliances, among other things. Be certain to ask your tax advisor how it works in your specific situation.

If you have any additional questions or when you’re ready to put your home on the market please give me a call at 402-967-4251 or email me at MarieOtis@cbshome.com.

There are plenty of listings on the market from which to choose. Mortgage rates are beginning to rise and are predicted to go even higher after March 31 when the Fed bows out of the mortgage-buying market. If you’ve been waiting for the optimum time to buy then wait no more.

If you want to get into a new home then give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.  I’m ready to help you take every advantage you can and make a good investment in you and your family’s future.

Although you must discuss exact requirements with your qualified lender, a detailed home inspection and/or energy audit must be completed by a qualified professional. The professional must be approved by the lender. Based on the report, the homebuyer can choose which improvements to make.  However, installation of smoke detectors and the upgrading of the heating and cooling system to a more efficient level may also be required.

Then the homebuyer must get bids for the work and establish a firm price with the contractors. The work must meet all FHA standards and requirements. The work must begin within 30 days of execution of the Agreement. The work must not cease prior to completion for more than 30 consecutive days. The work is to be completed within the time period shown in the Agreement (not to exceed six months); the lender should not allow a time period longer than that required to complete the work. The lender will add the repairs amount to the loan.

When the closing is completed, the lender sets up an escrow account for the money to be disbursed to the contractor when all the work in completed. The mortgage payment may be slightly higher, but the energy savings from the improvements usually offsets the difference.

As with all government programs, the 203k program has many rules, regulations and requirements. However, it may be just what you need to get into good housing. As your realtor I can make certain you get with the right lender(s) and make your dream a reality. Give me a call at 402-694-4251 or email me at Marie.Otis@cbshome.com.

One of the speakers at the conference was Paul Cardis, CEO of AVID Ratings Co., which conducts an annual survey of home-buyer preferences. He said there are 10 "must" features in new homes.

1. Large kitchens with islands. The islands must serve some use such as a sink, large workspace or stove top.

2. Energy-efficient appliances, high-efficiency insulation and high window efficiency. Of all the green items offered these were the ones most wanted by home buyers.

3. Home office/study. Consumers want a home office space for many reasons but statistics show that more and more people are working out of their homes.

4. Main-floor master suite. This is Boomer feature. Boomers are also called the “sandwich” generation because they may still have kids at home as well as elderly parents.

5. Outdoor Living Room. People are looking for more than a barbeque area or swing set. People want to spend more and more time outdoors and they wish to do it in comfort.

6. Ceiling fans. Decorators on T.V. may detest ceiling fans but consumers love them for air circulation and comfort.

7. Master suite soaker tubs. These have dropped in popularity and large, walk-in showers are moving up the rankings.

8. Stone and brick exteriors. Consumers want low-maintenance but still want style.

9. Community landscaping, with walking paths and playgrounds. Forget the golf courses, swimming pools, etc. Consumers are looking for walking and hiking areas with lush vegetation.

10. Two-car garages.

It’s important to know before you build or buy to identify what features are most important to you. You must also weigh upfront costs vs. payback costs. Once you have a list of your most important features give me a call at 402-694-4251 or email me at Marie.Otis@cbshome.com. Together we can find the perfect property or builder for you.

Another interesting trend is the demand for a Master Suite on the first floor. This is obviously important to Boomers. However, many are demanding a second Master Suite on the second floor. These spaces may be converted to offices or additional bedrooms but they are very appealing to Boomers who may have aging parents for which to care.

Formerly formal spaces built to impress such as Living Rooms, Dining Rooms and Foyers are being eliminated and compressed into open communal living spaces. Kitchens usually open to these new areas and are filled with energy-efficient appliances. Designers recommend that if you have extra design dollars to spend that it be here in the Kitchen. Consumers want sizable Kitchens with center islands and granite countertops.

Finally, basic green features are becoming more and more important to consumers. They are looking for high efficiency insulation and high performance windows. Tankless water heaters and high efficiency heating and cooling are in high demand. Although consumers still prefer brick and stone exteriors, many are considering low maintenance fibre cement siding.

I’ll report on more trends in my next blog. It is always exciting to see how consumer demands can have a positive affect on the building industry. If you would like to discuss these trends or find out more detail please contact me at Marie.Otis@cbshome.com or just pick up the phone and give me a call at 402-964-4251.

The good news is that FHA loans only require down payments of 3.5 percent of the purchase price. That has not changed. But because of the necessity of bringing more revenue into the agency here are the rule changes:

1. The upfront mortgage insurance premium will increase from its current level of 1.75 to 2.25 percent of the total loan amount. Those fees can still be a part of the total fees covered. Here is an example given by the agency: If the mortgage borrowers take out a $200,000 mortgage they will now pay a fee of $4,500 instead of the current fee of $3,500.

2. The borrowers need a credit score of at least 580 to qualify for an FHA loan. If you have a score lower than 580 you will need to come up with a down payment of at least 10 percent of the purchase price of the home.

Don’t be confused by the new rules. Make certain you are working with a reputable lender. If you need the names of such people be certain to give me a call at 402-670-8775 or email me at Marie.Otis@cbshome.com. I’m here to guide you through the maze of options the home buying process entails. You need a friend you can trust; let me help.

1. Cancel your credit cards. Yes, pay off the balances but don’t cancel the card. Mortgage lenders are interested in how much credit you have available. Keep your credit card balances under 30% of your approved credit level.

2. Not checking all three credit reports and your FICO score. This is a big one folks. It is so important to check all three of your credit reports so you can correct errors.

3. Buy furniture for the house. Whatever you do if you qualify for a loan make no major purchases until after the closing. Then you can celebrate the closing by visiting your favorite store or car dealership if you wish.

4. Spend over 30 days shopping for a mortgage. Your credit rating loses 5 points every time a creditor checks your credit rating after the 30 day period. Most of us can’t afford to lose any points.

5. Ask your creditor to lower your credit level. People do this in an effort to help themselves spend less on credit cards. A mortgage officer is looking at your “available” credit when considering approval. Control yourself and get your spending under control.

6. Use one credit card to pay off another. Mortgage lenders believe this to be a trick. Don’t do it. Pay off the credit card with the highest interest first and then get your other balances to under 30% of your credit availability.

Here’s what you can do to help yourself get a mortgage loan:

1. Pay your bills on time.

2. Keep your credit card balances under 30% of the approved credit level.

3. If you have one late payment when you have always been on time before ask the creditor to remove the mark against your credit. It is worth talking the time to ask. Most will remove it if you are a good payer.

Unless you have the cash you are going to have to get a mortgage loan to buy a home. Follow these rules and get your financial life back under your control.  When you’re ready to buy a home then call and I will help you get into the home of your dreams. You can reach me at 402-964-4251 or email me at Marie.Otis@cbshome.com.

And the market is already heating up.  The $8,000 tax credit is in effect until Spring, mortgage rates are still low, there are plenty of homes on the market and if you qualify for a housing loan then you are in a terrific position.  Whether you are buying your first home or “moving up” to a better home, the time to get serious about buying is right now.

The perfect place to begin your journey to a new home is with me.  I can direct you to several reputable mortgage lenders as well as show you any house for sale in Omaha and the surrounding communities.  You need a champion to make certain you get every advantage to which you’re entitled.  I’m here to work for you.  Give me a call at 402-967-4251 or email me at Marie.Otis@cbshome.com. 

“How did it go?” asked Stephanie.

“She wanted me to change everything!” Melanie fumed. She said I had too much furniture, too many knick-knacks and I needed to replace my wallpaper with paint. Aunt Bess left me those antiques and you know I spent years finding the right 1890’s wallpaper set them against. And to top it off she told me to take down all the pictures of my family!”

Stephanie patted Melanie’s hand and inquired gently, “Why do you think she said those things?”

“She obviously didn’t like my decorating taste,” Melanie huffed.

Stephanie smiled and said, “No, she’s doing her best to turn your home into a model home. Do you remember the model homes we saw last summer? Those homes where decorated in neutral colors with colorful accent pieces. They had very little furniture and it was arranged so well the rooms looked really big. We could easily imagine moving in right away. That’s what the stager is trying to do to your home. Your house has become a product and to sell quickly it must appeal to all people.”

Stephanie is right. People are listing their homes because the economy is improving and late winter and early spring are the most active times in real estate. There is lots of competition out there. If a person is serious about selling their house and getting on with their lives then they must depersonalize the house and think of it as a product to sell. 

I’ve found a great video on home staging I want you to watch.  Susan Botticelli has lots of good ideas and she presents them well in the video with before and after pictures. Take a look and let me know when you want to list your home. Give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com. Together we’ll get the job done and done right!

It’s good news for existing home sales as well.  Sales are up 47 percent this November compared to November 2008.  Year-to-date numbers are good too with 2009 coming in at 12 percent over last year at this same time.

For new construction homes the average time on the market before selling was 125 days in 2008 and in 2009 was reduced to 123 days.  For existing homes the average market time in 2008 was 65 days and in 2009 year-to-date is 59 days.

So, don’t let the national news discourage you. Things continue to improve here in Omaha.  It’s going to be a great 2010 and a great decade.  When you’re ready to put your home on the market or if you’re ready to buy a new home now, give me call at 402-697-4251 or email me at Marie.Otis@cbshome.com. 

Happy New Year!

I wish all of you a very Merry Christmas. I pray you are with your family and friends staying warm, cozy and happy.  Look out the window and see all the rain, snow and whatever and be glad we’re having a White Christmas.

Here’s a little song just for you.  It even has the lyrics so you can sing along.

1. R-value insulation: Increase the R-value and the amount of insulation in your home to save on the cost of energy. 

2. Energy-efficient windows: To keep winter heat in and summer heat out of your home it would be a good idea to install energy-efficient windows.

3. Energy-efficient appliances: When you shop for appliances choose those with high energy-efficiency ratings. Did you know that front-loading washers use about 40 percent less water? They also use about half the energy of other models.

4. Low-flow toilets: These items are improving all the time. There are now models that use even less water than before.

5. Tankless water heater: How would you like hot water on demand? Install a tankless water heater; it doesn’t have to waste energy storing hot water.

6. Solar panels:Turn the windows on the South side of your house into an energy source by installing a solar panel.

7. Recycle plastic lumber: I’ve mentioned that adding a deck or privacy fence will usually enhance the value of your home. Go “green” by using recycled plastic lumber and wood composite materials.

8. Durable roof: Using a lighter roof color can help reduce cooling costs. How would you like to replace a roof less often? Then use durable roof materials such as fiber cement or steel.

9. Replace flooring: This is a good way to give your home a facelift.  Replace your flooring with durable, renewal products such as cork, bamboo or low VOC (volatile organic compounds carpeting).

10. Plant shade trees: This is an item usually overlooked. Trees provide shade and act as a windbreaker.This saves in energy costs. Sixty pounds of pollutants can be filtered from the air each year by only one tree!

If you’re thinking of remodeling or buying a home, keep “green” in mind. It’s good for the environment but best of all it is good for your pocket book in the long run. Here’s another interesting fact. If you have the money up front to install a geothermal unit you can save up to approximately 90 percent on your utility bill. WOW!

 If you need more information on this please don’t hesitate to give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.

Real estate can be quite complicated and laws change from state to state.  When you choose your agent make certain they are experienced buying and selling in the location that’s important to you.  Knowledge is so important when you are making one of the biggest investments of your life.  You want a knowledgeable Agent who is well equipped to give you confidence in your buying decisions. Remember to ask questions but also remember to listen carefully to the answers. In this instance, knowledge is power and money.

You want someone who will negotiate for you.  Not someone who is looking out for the interest of the Seller. There’s not just price of the house to negotiate on.  There are many conditions of a purchase that can help you financially at the negotiation stage and at the closing table.  Your real estate professional has the knowledge to tell them to you and to negotiate these for you. 

 Finally, your agent will help you secure a mortgage broker and will help you understand all the monies, fees and costs you will need to bring to the transaction.  A good real estate professional can be with you for the rest of your buying lifetime.  This is the time to forge a relationship of trust.  You will most likely buy several properties in your lifetime and you want a team of professionals with the knowledge to protect you and help you gain financial advantage and attain your housing goals throughout the years.

 If you are interested in purchasing a home come talk to me.  Call me at 402-697-4251 or email me at Marie.Otis@cbshome.com.  I look forward to a long-term relationship with you.

Earlier this fall, the Brookings Institute rated Omaha 10^th among the metropolitan areas least affected by the recession.  Forbes relied more heavily on housing stability in its study. As far as homes sales rates, foreclosures and stability of housing prices, Omaha ranks quite high.

I thought it was insightful of Forbes to add a “lessoned learned” from Omaha’s high ranking, “Rather than chasing rising home prices or apparently plentiful jobs in one-industry towns, families looking for long-term economic stability should seek spots where industry is diverse and housing prices shifts are benign.”

Pricing your house fairly and competitively is so important when you’re ready to sell. It takes research and experience to do it well. When you’re ready to list your home please give me at call at 402-697-4251 or email me Marie.Otis@cbshome.com. I’m ready to help you market and sell your home.

For each new morning with its light,
For rest and shelter of the night,
For health and food,
For love and friends,
For everything Thy goodness sends.

Give us this day our daily bread

and grant that we who are filled

with good things from Your open hand,

may never close our hearts to the hungry,

the homeless, and the poor.

The Otis family and our new puppy, Boji, wish you the best Thanksgiving ever.

The National Association of Homeowners (NAR) has put together a very helpful question and answer sheet (Q&A) that will aid people in figuring out whether or not they are eligible.  I though it might be helpful to Omaha homeowners to review some of the NAR Q&As here.

1. “In order to qualify for the homeowner credit must the new house cost

more than the old house? 

Answer: No. Thus, for example, individuals who move from a high cost

area to a lower cost area who meet all eligibility requirements will qualify

for the $6,500 credit.

2. I am an existing home.  On October 25, 2009, I signed a contract to

purchase a new home.  I have lived in my current home for more than 5

consecutive years and am within the new income limits. I will go into

settlement on November 20.  If President Obama has signed the bill by

the time I go to settlement, will I qualify for the new $6,500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for

purchases after the date of the new credit. The provision looks solely to

the date of purchase, which is generally the date of settlement.

3. I am an eligible existing homeowner. I have a fair amount of equity in

my home.  I have found a home with a non-negotiable price of $825,000.

Will I be able to use any of the $6,500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm

at $800,000. Any amount above $800,000 make the home ineligible for

any portion of the credit. The $800,000 is an absolute ceiling.

4. I owned my home for 10 years, but sold it two years ago and have been

renting since. If I purchase a home, will I be eligible for the $6,500 tax

credit if I need all the other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive

years of the previous 8, you will qualify for the $6,500 credit. For example,

say John and his wife bought a home in 2000 and loved there until 2008

when he got a divorce. Whether John has been renting or bought in the

interim, he would indeed by eligible for the credit because he owned a home

and occupied it as his principal residence for 5 consecutive years out of the

last 8 years. The keyword here is “consecutive.” As long as he lived in that

house for 5 years straight what he did since 3 years doesn’t impact eligibility.”

The income limits for the homeowner tax credit is $125,000 for a single person and $225,000 for a married couple. As long has you have a signed, binding contract to purchase a home by April 30, 2010 you will qualify for the tax credit if you close before July 1, 2010. 

I’m certain you have lots a other questions you’d like answers to so please give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com. I’m most eager to help you get all you are entitled to receive with your new home.

1. Find the time to let your entire family talk about the move and how they feel.  Identifying what they are excited about and what their fears are will help all of you cope. Remember, some days it will seem to be an exciting adventure but things can get bogged down and spirits too can take a nosedive. Let your family members know it’s okay to talk it out.

2. As a family sit down and do your homework. Start your research using the internet. Go to state and city websites to begin. There you can get a good idea of the schools systems and what recreation facilities and services are available. Look up local real estate blogs or even neighborhood bloggers who can give you a sense of the area and what it has to offer the residents. Maybe you can assign different areas to different family members so everyone has a chance to become an expert.

3. Find how and where to keep up your hobbies. If you or your child is involved in sports, theater or some other hobby, then find out where to pursue them in your new location. People are much happier if they are involved in activities they love.

4. This is also the time to start gathering up medical and school records.  That means dentists and orthodontists too. You will find that this makes life so much easier by having necessary information at your fingertips.

5. If your family belongs to a religious group ask your pastor to refer you to the pastor of the church in your new location.  This is a great way to ease your family into a new home knowing you have a place of worship waiting to welcome you.

6. Be certain you use professionals to help you. The right real estate agent can help you sell your house here as well as make certain you have a great agent on the other side of your move.  A good realtor will secure a relocation kit for you that’s full of school information, available services and so much more.

If you are considering a move to Omaha I can help.  I provide a great relocation kit that’s packed with information.  Just drop me an email at Marie.Otis@cbshome.com and I’ll send it out to you.

As I said, the new deadline is now June 30, 2010. This means that all home buying contracts have to be pending by April 30, 2010 and must close on or before June 30, 2010.  For first –time homebuyers the tax credit is 10% of the purchase price of the new home - or a maximum of $8,000.  For current homeowners the tax credit can be up to $6,500.

The amount of income you can make to qualify for the tax credit has been raised as well.  Single tax filers who earned up to $125,000 qualify for the full amount. Those filers who earn more than this can receive a partial credit. Joint filers who earn up to $225,000 are eligible for the full tax credit. Again, those who earned more can receive a partial credit but the $245,000 for joint filers is the absolute limit.

The maximum purchase price for a home under this program is $800,000. That figure is the absolute maximum – no exceptions.  Remember, a tax credit is a dollar-for-dollar reduction of your taxes. So, if you qualified for the full $8,000 and only had to pay $4,000 in taxes you will get a refund of $4,000. 

This is a good deal. There are so many details associated with this bill I can’t write them all here. Please give me a call at 402-697-4251 and I will answer all your questions. You can also email me a Marie.Otis@cbshome.com.  The time to buy is now!

• Check the batteries in your smoke detectors, carbon dioxide detectors and flashlights. Your smoke detector battery should be changed every year, and tested every month.
• Check your fire extinguisher(s) to make sure it is fully charged and ready for use (be sure that the gauge is in the green.
• Check your computers, phones and other electronic equipment to make certain the time changes properly. If you have a Microsoft system you can go to www.support.com for help or call 1-800-PC-Support (1-800-727-8776). Your cell phone should be okay but if you have trouble check with your provider.
• Prepare an emergency supplies kit for your home, car and work site. Make certain you have food, water and items to keep you warm if you get stuck in your car during a snow storm. It’s a good idea to keep a shovel and sand in your trunk so you can get yourself out of snow-banks or get traction on the ice.
• Keep your cell phone charged and with you. This becomes even more important when you run the risk of getting caught in bad weather. Be sure to program the numbers of the police and a towing service into your phone so you don’t have to waste time trying to find them when you’re in trouble.

If you have any other ideas that I should add to the checklist please give me a call at 402-697-4251 or email me at Marie.Otis@cbshome.com.  I’d love to hear from you and all of us can use a good tip.