Real Estate Information Archive

So you applied for a mortgage (congratulations!) and you are wondering if there are things you should avoid doing until the process is finalized. The short answer is yes, and below we have listed five things for you to review and (hopefully) avoid doing. Let’s dive in: 

1.It is so important to ensure your bills are paid on time and to not to miss any credit card and/or loan payments. Why you ask? Well when it comes to your credit score, payment history is one of the most important factors. It can really hurt you if you show late/missed payments on credit accounts. 

2. While this next one can potentially be out of your control, you don’t want to actively switch jobs during the loan-approval process. Doing so could lead to income adjustments and thus revisions to the total amount of money you are ultimately approved for. 

3. Applying for new credit is another big no-no. Knowing your credit can be pulled at any time until the loan is finalized, you want to steer clear of anything that can negatively impact your score. Opening new lines of credit can have negative impacts on your score and further debt accumulation can increase the debt-to-income ratio (which lenders don’t want to see). 

4. ​Avoid making large deposits without a paper trail as this can indicate newly borrowed money to a loan underwriter, which in turn could read as an increase to your debt-to-income ratio. Any large sum of money that is deposited should have a clear explanation. 

5. ​Steer clear of large purchases after applying for a mortgage. Doing so could either lower your savings amount if paying cash, or increase your credit utilization and debt-to-income ratio. Hold off on furniture and appliance shopping until after the mortgage is finalized.

It is no secret that the housing market is booming! If you are looking to purchase a home, chances are you are having to act quickly and are most likely up against many other buyers who are bidding for the same home. 

In today’s blog post we are going to be talking about some facts when it comes to selling your home in Omaha, NE - let’s dive in:

-With more and more families looking to purchase a home in Omaha, NE, inventory remains tight. Sellers are controlling the market and are in a better position than ever. It is not uncommon for sellers to receive competitive offers on their homes, many of which are over asking with a fast closing. 

-Mortgage rates have hit record lows over the last year, mainly due to economic uncertainty from the pandemic. How long will this last you ask? While no one can say for certain, the Federal Reserve is intending to keep interest rates low until the economy steadily improves, which is a big draw for buyers. This means that sellers can expect many eyes on their listing and interested buyers at their doors. 

-First-time homebuyers will be a crucial part of shaping the Omaha, NE real estate market in the years to come. During the pandemic, many people yearned for more space and are opting for a spacious house versus a one-bedroom rental. Millennials are tired of tight living quarters and expensive rent payments, which is why they will continue to be a large part of the real estate market moving forward. 

-While no one knows what the future holds for the real estate market, one thing that will always hold true is that local expertise will always win. Having a knowledgeable real estate agent by your side is a great way to ensure you are getting the most money for your home, no matter what the market conditions look like. 

Selling your Omaha, NE home? Allow our team of professional, knowledgable and trustworthy real estate agents to go to work for you! Additionally, don't miss our "Seller Tips" page here! 

Did you know the photos that are used in your home listing are a crucial part of the home selling process? It’s true! They can be a large factor in the amount of initial interest your listing receives, and can be a great tool to showcase your home with homebuyers out of state. Below we discuss a few tips and tricks to help ensure your images not only turn out well, but stand out from the rest. Let’s dive in: 

-Our first tip is to ensure that your home doesn’t appear too “lived in.” You want to spend some time decluttering your home to help that the images turn out clear and allow buyers can focus on the home - not your things in it.

-If you are finding you need extra space to store bulky furniture or miscellaneous items, you may want to consider renting a storage unit. It is a great way to keep your items safe and in good repair until the home sells, while also decluttering the space. 

-Staging a home is known to increase not only the amount of offers that come in, but also the price of those offers. You can either stage the home yourself or bring in a professional staging company to help ensure the home looks its best and is staged to sell. 

-You want to make sure to highlight all the natural light and/or pretty views as those features are a huge selling point for potential buyers. Make sure all your curtains are open and windows are cleaned. For a better photograph, you want to make sure all lights and lamps are turned on, inside and out, but to make sure that all ceiling fans are turned off.

-Lastly, it is important to take some time to depersonalize your home. This includes excessive family photos, refrigerator door clutter and kids toys. You want the images to showcase the home itself and not have potential buyers be distracted by the other items throughout your home. 

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Buying a house is likely the largest purchase an individual will make in their lifetime. It takes time to save for a downpayment, find the right real estate agent, tour potential homes and finally put an offer together. 

It is so important to be prepared when buying a house, especially first time home buyers, and make sure that you are getting the best deal you can. And as you may have guessed, that is exactly what we are going to be discussing in today’s blog post. Let's dive in: 

-One way to help ensure you are getting the best deal you can when buying a house is finding a great lender and figuring out the right mortgage for you. Taking time to shop around and finding the right fit could mean the difference of thousands of dollars over time.

-Finding a good real estate agent is another great way to ensure you are getting the best deal possible. You want to find an agent who is not only knowledgeable of the area and dedicated to helping you find your dream home, but also someone who will always keep your best interest in mind. 

-Buying a home during an off-peak time could work in your favor when trying to get the best deal. With spring and summer being peak housing sales seasons, trying your luck in the winter could get you the most bang for your buck. 

-Another way to get the best deal on a home is buying a fixer-upper. There are many homes that have a ton of potential, but lack the spark when you first walk in. A fixer-upper is a great way to increase the value of your home while also putting your personal touches on the house.

From new, modern homes to old fixer-uppers - whatever your taste let our experienced team help you find your dream home in Omaha, NE. Be sure to sign up for our listing alerts here!

Before we jump into the main topic of today’s blog post, it is important to understand exactly what a foreclosure is. A foreclosure is a property that has been seized by the bank who originally gave the owner the loan. In each mortgage contract there is what’s called a ‘lien’ on the property which allows the bank to take control of the property in the event the borrower fails to make mortgage payments. 

What are the benefits of buying a foreclosure?

-Price: One of the most undeniable benefits of purchasing a foreclosed home is that they will almost always be at a lower price point than other properties in the surrounding area. This is because the property is being sold off by the lender, who is motivated to sell quickly as they only make a profit if the home is sold. This creates an opportunity for below market purchase price.  

-Affording your dream neighborhood: A foreclosed home could be a great path to your dream neighborhood in which otherwise you wouldn’t have been able to afford.  

-Renovations: Another great benefit to a foreclosed home is the potential for renovations due to the home being priced to sell and leftover money in your budget. Is the kitchen not big enough? The powder room not to your liking? You are now able to shift the feel and look of the home to be more in line with your aesthetic taste. 

-Fewer title concerns: If you were to purchase a property from a homeowner there is a chance you may not receive a clean title (which is the legal right to own a property) due to liens on the home, backed taxes, etc. These are just a few reasons which could force the sale to be canceled. In a foreclosure the bank clears the title for you, thus eliminating these concerns.

-Loan configurations: Even though when you buy a foreclosure there might be a slightly different  buying and bidding process, you still have options when it comes to loans. As long as the home is in living condition, you can get a FHA, VA or USDA loan. 

From new, modern homes to old fixer-uppers - whatever your taste let our experienced team help you find your dream home in Omaha, NE. Be sure to sign up for our listing alerts here!

There is no denying that Omaha, NE is a hot real estate market! With that said, if you find the perfect home in the city it helps to be equipped with knowledge to help make your offer stand out from the rest. These tools may be the competitive advantage you need for sellers to accept your offer. Let’s dive into this more below: 
 
-Find a great rest estate agent that has a broad understanding of the current Omaha, NE market and who not only communicates well, but also is proactive during the entire process. Your agent will represent you and will be communicating with the listing agent to help push your offer over the finish line by inquiring on items such as timelines, seller’s goals, etc. 

-To make your offer appealing to the seller, it is best to keep your offer as simple as possible. This means fewer contingencies, making sure the offer price is reasonable and competitive, offering a quick closing, etc.

-Show that you are a serious buyer by providing the seller proof that you can afford the home. You can do this by obtaining a mortgage pre approval letter or if you are a cash buyer, you can submit proof of funds in combination with the offer.

-Lastly, you can make your offer stronger by offering to speed up the inspection time. A standard time period is around ten days, but offering to have the home inspector come out right after the contract is accepted can really make your offer stand out. 

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There is no better feeling than signing the final paperwork on your first home! And while the difficult hunt of finding your perfect property is over, there are still many items to check off your ‘to-do’ list before you can kick your feet up. 

We have dedicated today’s blog post to a list of items for you to consider after you purchase your first Omaha, NE home. Let’s dive in! 

-One of the first things you want to do after purchasing your Omaha, NE home is to change the locks and garage codes. This will ensure no one with previous access to the home is able to enter moving forward. You may also consider updating the home technology such as the security system for an added layer of protection. 

-You will want to use your home inspection report as a guide to address any issues that were flagged, and the seller did not fix. You don’t have to tackle these all at once – you can prioritize what needs to be completed on what timeline and gradually check items off. 

-Be sure to connect the utilities, such as electricity and gas, prior to your move in date. This will make for a smooth transition as you settle into your new abode. 

-Don’t forget to check carbon monoxide and smoke detectors to ensure they are in good working condition. You may need to change out the batteries or consider replacing the entire units if you feel they need to be updated. 

-Prior to your move in date you may consider hiring a professional team to deep clean the space before your belongings are hauled in. You can’t be sure what dust and/or allergens have accumulated and it’s always good to start with a clean, clear space. 

-In case of emergencies, be sure to familiarize yourself with emergency shut-offs, appliance manuals and the circuit box right when you move in. The least ideal time to search for these is in moments when you need them! 

-Lastly, don’t forget to update places such as your employer, insurance companies and banking institutions with your new address. Additionally, if you are moving from out of state be sure to set a date to visit the local DMV to update your license. 

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There are a number of factors to consider and questions to pose when figuring out if a home is right for you – is the neighborhood safe, what is the school district rated, how far of a commute will it be to work, is it central to local amenities, etc. One other important item to consider is whether or not you want your house to be located within a Homeowners Association (HOA). 

In today’s blog post we are going to discuss the pros and cons of living in a community with a Homeowners Association. But before we dive into the meat and potatoes, we want to make sure you first understand exactly what an HOA is:

An HOA is an organization that is created to help run, maintain and manage a community, subdivision or condominium. The residents residing within the community are responsible for monthly or annual dues which the HOA uses to maintain shared spaces, as well as carry out other duties such as meeting management, rule enforcement and financial planning.

What are the pros of an HOA?

-A pro of living in a community with an HOA is that the organization typically is in charge of handling community maintenance. This could include things such as snow removal, landscaping and the upkeep of roads within the planned community. 

-Neighborhoods with an HOA typically offer (and will therefore manage/maintain) community amenities. These can include areas such as pools, parks, tennis courts, community centers, etc. and are all assessable to community members. 

-The organization will ensure that all members are abiding by the rules and set standards of the HOA, including the appearance of the exterior of properties. These standards can help protect the value of your home. 

-The HOA will make sure that the neighborhood and/or building is kept clean and neat.

-Lastly, you can lean on the HOA to step in on your behalf if you were to have an issue arise with a neighbor. 

What are the cons of an HOA?

-The main issue many people have with an HOA is the cost to be part of the community. It is important to note that the cost can vary from neighborhood to neighborhood and is based on things such as property and access to amenities. 

-Another downside is the unexpected fines and fees that can potentially arise if you were to do something that goes against the rules and regulations that have been set by the HOA. You, the homeowner, are expected to know, understand and abide by the standards of the community. 

-Lastly, there is a potential for things to become political within an HOA which turns some people off. 

From new, modern homes to old fixer-uppers - whatever your taste let our experienced team help you find your dream home in Omaha, NE. Be sure to sign up for our listing alerts here!

If you are a first-time home buyer you may come across words or phrases during the buying process that you are unfamiliar with, thus causing a level of confusion and unnecessary stress. Two of those terms may be pre-qualified and pre-approved – and while they sound similar, it is crucial that you understand the differences.

And as you may have guessed, that is exactly what we are going to be covering in today’s blog post. We want to ensure you are equipped with all the knowledge possible to make the home buying process as enjoyable as possible. Because after all, it’s an exciting and wonderful time! Let’s jump in: 

For home buyers, one of the first steps in the mortgage process is to get pre-qualified for a home loan. Essentially this step allows you to provide the lender with an overview of your financial picture and can typically be done online or over the phone. You can expect to provide things such as debts, assets, income, etc. The lender will then evaluate your information and provide you an estimate of the mortgage that you may qualify for. 
*It is important to note that this is not a complete assessment of your ability to purchase a home, but simply will provide you an idea of what you can potentially be approved for. This also does not take into account your credit report. 

The pre-approval process, on the other hand, is more in depth and a much more involved process. This process requires the home buyer to complete an official mortgage application, in addition to providing items such as credit reports and bank statements. The lender will then do a very thorough assessment of your provided information and can submit an exact mortgage amount that you are approved for. Being armed with this information is crucial when starting your home search as you will understand exactly how much home you can afford and not waste time on properties out of your price range.  

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