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Great Value
• 2,040 sq. ft., 1 bath, 3 bdrm single story "Many updates" -  MLS® $117,500 - Updated Ranch Home Benson, Omaha - Great ranch home with two stone fireplaces and steel siding. Don’t miss out on this 3 bedroom home with many updates. Just move right in. Eat in kitchen with white cabinets, brick backsplash, kitchen appliances included refrigerator, dishwasher, microwave and stove. Hardwood floors in the living room and hallway. Bedrooms carpeted, but have hardwood. New white raised panel doors, light fixtures and hardware. Large family room / rec room in basement with surround sound and new carpet. Outside there is a large deck (16x20), fenced yard with mature trees. Updated furnace, AC. Lots of storage space. New driveway AMA. Perfect for a first time home buyer. Don't miss out on the $8000 tax credit available to first time buyers. Call for details. Property information
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Popular Georgtowne
• 2,268 sq. ft., 3 bdrm 2 story "Colonial " - MLS® $199,000 - Many updates & extras Georgetown, Omaha - Fantastic traditional 2 story colonial with lots of updates & extras in popular Georgetowne with 3 bedrooms, 3 baths and 2 car garage. Kitchen has granite countertops, tile back splash, and new stainless steel appliances. Large formal dining room with built-in cabinets. Main level has title entry and beautiful hardwood floors through out, crown molding, raise 6 panel doors, smooth ceilings, newly painted inside and out. Exterior has steel siding, large deck (12 x 16), fenced yard with mature trees, and underground sprinklers. Updated furnace, AC with lots of storage space in the unfinished basement. Great location. Close to Millard schools (Montclair Elementary, North Middle, and Millard North High school), parks, golf courses and shopping. Property information
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Great Location
• 1,598 sq. ft., 3 bath, 4 bdrm bi-level "Split Entry" - MLS® $142,500 Hillcrest, Bellevue - Looking for a home in a great neighborhood that's close to Offutt AFB, look no further. Check out this great split entry home in Bellevue with many updates, just add your personal touches. 4 Bedrooms, 2.5 Baths, 2 car garage with just over 1,550 sq ft (AMA). Updated kitchen, bathrooms. New furnance, heat pump in 2007. Those with a green thumb will enjoy over 100 different peranial flowers in this nicely landscaped yard. New covered deck. Basement has a brick fireplace and a walk-out 4th bedroom. Call now to schedule your private showing. Property information
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Spring is just around the corner and home owners start thinking about selling their home. Over past several years, Hunters Crossing and Hunters Ridge, has averaged 17 homes sold per year. As you know, 2008 was not the best year for real estate. In 2008 Hunters Crossing and Hunters Ridge had 5 sales. Currently, as of Febuarary 24, 2009, there are 3 active listings and 1 home sold since January 1, 2009. The overall market conditions for the Papillion area remains a buyer's market. The number of Papillion homes for sale is currently 167, with 69 pending sales, and 22 sales as of February 24 2009. | MLS # | Status | Address | Style | BR | BTH | TSqFt | Year Built | DOM | Listing Price | Sold Price | SP % LP | | 20901072 | ACTIVE | 648 Bailey Drive | Ranch | 3 | 4 | 2217 | 1994 | 36 | $300,000 | | 0 | | 20823292 | ACTIVE | 501 N Filmore Street | 2 Story | 4 | 3 | 2301 | 2001 | 76 | $239,000 | | 0 | | 20819188 | ACTIVE | 311 Elk Ridge Drive | Ranch | 4 | 3 | 3296 | 1998 | 154 | $298,931 | | 0 | | 20804278 | SOLD | 655 Coyote Circle | 2 Story | 4 | 4 | 2341 | 2001 | 31 | $245,091 | $244,500 | 99.76 | | 20822702 | SOLD | 1009 Deer Run Lane | Ranch | 4 | 3 | 3416 | 1997 | 29 | $247,500 | $234,000 | 94.55 | | 20715091 | SOLD | 403 Pheasant Run | 2 Story | 4 | 3 | 2413 | 2001 | 163 | $234,000 | $225,000 | 96.15 | | 20801144 | SOLD | 656 Reeves Cir | 1.5 Story | 5 | 4 | 2845 | 1999 | 89 | $249,500 | $243,000 | 97.39 | | 20804751 | SOLD | 602 N Fillmore Street | 2 Story | 5 | 5 | 3535 | 2000 | 78 | $289,000 | $287,000 | 99.31 | | 20806670 | SOLD | 506 W Centennial Road | 2 Story | 4 | 4 | 4084 | 1992 | 190 | $379,000 | $360,000 | 94.99 |
If you would like to live in Hunters Crossing/Hunters Ridge in Papillion the #6 best town to live according to Money Magazine 2007, I would love to help you buy or sell your home. Check out my website: http://www.omaharealtypro.com/ to search the Omaha MLS, sign up for my Omaha Home Finder service. If you are considering selling your home, I offer a full service marketing plan for 4.8%. Disclaimer: Statistics presented by Steve Lauver DEEB Realty, Information has not been verified, is not guaranteed, and is subject to change. Source: Great Plains REALTORS Multiple Listing Service, Inc. Sale data doesn't include private sales.
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Great Location
• 2,530 sq. ft., 3 bath, 3 bdrm 1 1/2 story "Stone Front" - MLS® $170,000 - Large 1 1/2 Story home Georgetown, Omaha - Updated 1 ½ Story home in popular Georgetown with over 2,500 fsf. Open floor plan with a fantastic Great Room that offers cathedral ceilings & a brick fireplace. Many other features including vinyl siding, updated kitchen, spacious master suite, loft area makes a perfect office space, sunroom, finished basement, privacy fence and more. Great location, walk to Montclair Elementary and close to Oakview Mall. All Measurements Approx.
Property information
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Sarpy County Real Estate Market Update Thank you for checking out my September Real Estate market report for the Sarpy County area, including Papillion, La Vista, Bellevue, Springfield, Gretna and West Sarpy. Active Listings, as of November 6, 2008 and Sold Data from October 1, 2008 to October 31, 2008. Months supply is the number of active listings divided by the number of sold listings for the month. Sarpy County had 158 attached and detached homes sold in October 2008, compared to 161 sold in October 2007, which is down 2%. As of November 6, 2008, there were 910 active homes for sale, which is a 5.56 months supply. September Data Active as of November 6, 2008, Sold 10-1-08 to 10-31-08 Sarpy County
Active listings 910
Sold listings 158
Months supply = 5.56
% change from same month 2007 down 2% Papillion (Area 263)
Active listings 194
Sold listings 27
Months supply = 7.19
% change from same month 2007 up 8% La Vista (Area 264)
Active listings 73
Sold listings 22
Months supply = 3.32
% change from same month 2007 up 57% Bellevue (Areas 260, 261, 262)
Active listings 383
Sold listings 56
Months supply = 6.84
% change from same month 2007 down 20% West Sarpy County Springfield 265
Active listings 28
Sold listings 0
Months supply = N/A
% change from same month 2007 down 98% West Sarpy County Gretna 267
Active listings 143
Sold listings 31
Months supply = 4.61
% change from same month 2007 down 11% West Sarpy County Millard 266
Active listings 102
Sold listings 25
Months supply = 4.08
% change from same month 2007 up 32% Thanks for viewing my home market report and check out my website at www.OmahaReatyPro.com. If you're considering selling a home, I would appreciate the opportunity to market your home. If you are considering buying a home, be sure to check out my website and search the Omaha MLS for homes and when you are ready I would be happy to help purchase your new home. Information was pulled from the Great Plains Omaha Board of Realtors Multiple Listing Service; OABR deems information reliable but not guaranteed. Prepared by Steve Lauver-REALTOR
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Omaha Real Estate Market Update Thank you for checking out my September Real Estate market report for Omaha NE including Downtown Omaha Condos, Midtown - Dundee, UNMC, North Omaha - Benson, Northwest Omaha, West Omaha Homes, Elkhorn, Ralston and Millard homes that are for sale on the Omaha MLS. . Active Listings, as of November 6, 2008 and Sold Data from October 1, 2008 to October 31, 2008. Months supply is the number of active listings divided by the number of sold listings for the month. Douglas County had 446 attached and detached homes sold in October 2008 compared with 510 in 2007, which is down 13%. As of November 6, 2008, there were 3,613 active homes for sale, which is 8.1 months supply of homes. Active as of November 6, 2008, Solds 10-1-08 to 10-31-08
Douglas County
Active listings 3,613
Sold listings 446
Months supply = 8.1
% change from same month 2007 = down 13% Downtown (230,240)
Active listings 335
Sold listings 11
Months supply = 30.45
% change from same month 2007 = down 56% Midtown (231,241)
Active listings 603
Sold listings 76
Months supply = 7.93
% change from same month 2007 = up 9% District 66 (232, 242)
Active listings 199
Sold listings 23
Months supply = 8.65
% change from same month 2007 = down 12% North Omaha (210, 220-223)
Active listings 617
Sold listings 58
Months supply = 10.64
% change from same month 2007 =down 34% Northwest Omaha (211, 224, 225, 233, 234)
Active listings 666
Sold listings 93
Months supply = 7.16
% change from same month 2007 = down 21% West Omaha (245, 246)
Active listings 196
Sold listings 21
Months supply = 9.33
% change from same month 2007 = up 5% Southwest Omaha (243, 244, 253, 254)
Active listings 581
Sold listings 99
Months supply = 5.87
% change from same month 2007 = up 2% Elkhorn, Waterloo (212, 213)
Active listings 162
Sold listings 20
Months supply = 8.10
% change from same month 2007 = no change Ralston (252)
Active listings 63
Sold listings 9
Months supply = 7.00
% change from same month 2007 =down 55% Southeast Omaha (250, 251)
Active listings 182
Sold listings 33
Months supply = 5.52
% change from same month 2007 =up 38% Thanks for viewing my home market report and check out my website at www.OmahaReatyPro.com. If you're considering selling a home, I would appreciate the opportunity to market your home. If you are considering buying a home, be sure to check out my website and search the Omaha MLS for homes and when you are ready I would be happy to help purchase your new home. Search all Omaha Homes at www.OmahaRealtyPro.com When you are there, sign up for my Omaha Home Finder service. Information was pulled from the Great Plains Omaha Board of Realtors Multiple Listing Service; OABR deems information reliable but not guaranteed. Prepared by Steve Lauver-REALTOR
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As a home buyer would you rather wait for home prices to fall 5%, while mortgage interest rates climb by ½ %? Or buy a home now and get the current interest rate? Today, I am going to compare some scenarios and look at the effect on the monthly principal and interest payment. Here is the basic scenario: I am going to use a $150,000 purchase price using a FHA mortgage with a 6.5% interest rate. FHA mortgages require a 3% down payment from the buyers. The remaining scenarios increase the interest rate, lower the interest rate, lower the purchase price or a combination of both. 1. Buy a home today with an interest rate of 6.5%
Purchase Price: $150,000
Loan Amount: $148,800
Interest Rate: 6.5%
Principal and Interest: $940.51 2. Wait and buy a home, but interest rates increase by ½ % to 7%
Purchase Price: $150,000
Loan Amount: $148,800
Interest Rate: 7.0%
Principal and Interest: $989.96
It costs you an extra $49.45 3. Wait and buy a home, but interest rates decrease by ½ % to 6%
Purchase Price: $150,000
Loan Amount: $148,800
Interest Rate: 6.0%
Principal and Interest: $892.13
It saves you $48.38 a month. Now ideally, every home buyer would love to get a lower price on a home. The following scenarios use a purchase price of $142,500. But what happens if rates go higher or lower. 4. Buy a home at a lower price and with a 6.5% interest rate.
Purchase Price: $142,500
Loan Amount: $141,338
Interest Rate: 6.5%
Principal and Interest: $893.36
Compared to example #1 it saves you $47.15 5. Wait and buy a home at a lower price, but pay a higher interest rate.
Purchase Price: $142,500
Loan Amount: $141,338
Interest Rate: 7.0%
Principal and Interest: $940.33
Compared to example #1, it saved you 18 cents. 6. Wait to buy a home at a lower price and a lower interest rate of 6.0%.
Purchase Price: $142,500
Loan Amount: $141,338
Interest Rate: 6.0%
Principal and Interest: $847.40
Saves you $45.96 a month.
Compared to example #1 it saves you $93.11 With each price range scenario it ultimately saves or costs you an additional $45 by waiting for a lower interest rate or paying a higher interest rate. Instead, home buyers should focus on finding the best home for you and your family.
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Last Sunday, my family went out and enjoyed a day at Vala's Pumpkin Patch , which is 1 mile south on 180th and Highway 370. This is a great place to spend an afternoon or evening. There is so much to do from riding the ponies, the tri-cycles, or the larger peddle go-carts. Not to mention the train, the jumping area, and numerous other activities. This year they added a huge "Husker" maze to walk through, which they said takes 45 minutes. Taryn's favorite activity was having her picture taken by all the character posters with the faces cut out. Nick's favorite activity was the peddle go-carts. My favorite was the hay rack ride out to find your own pumpkins in the field. If you are planning on going to Vala's, pre-purchase your tickets at No-Frills in Omaha. Each ticket had a coupon for $1 off a food item and $2.50 off the purchase of a pumpkin (or a free pumpkin under 8 pounds). Saved us a few bucks. Also, I suggest wearing shoes that you don't mind getting dusty or dirty. Although the campfires and smoke make the air smell festive, the smoke and dirt go home with you!
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Today I want to talk about home affordability. If you look at Nebraska's Median Income and Home Values, I think homes in Omaha are very affordable. When compared to larger real estate markets like San Diego, CA, where median home values are out of line with incomes. Let's look at home affordability in Omaha. When qualifying for a mortgage; lenders look at numerous different factors, but one is a housing ratio. Housing ratio is determined by taking your estimated house payment divided by your gross monthly income. Assuming a family makes $68,944 a year or $5,745 a month and purchases a $141,000 home, the estimated monthly payment would be$1,214 a month or 21 % housing ratio (well within the guidelines). Using the median income and house values for a San Diego property, the estimated monthly payment would be $3,908 a month or 56.4% housing ratio. I would be more concerned with home values falling to be in line with incomes in San Diego then Omaha, NE. Median income and house value data provided by http://www.taxfoundation.org/ . County | State | 2007 Median Taxes | Rank | 2007 Median Home Value | Taxes as % of home value | 2007 Median Income | Taxes as % of income | Rank | Douglas | NE | 2,696 | 159 | 141,300 | 1.91% | 68,944 | 3.90% | 161 | San Diego | CA | 2,770 | 144 | 556,500 | 0.50% | 82,944 | 3.30% | 259 |
Do you think there is more potential for home prices to fall in San Diego or Omaha? Steve Lauver, Deeb Realty
Omaha Real Estate Agent serving all of the Omaha Metro area.
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At Home- September Fall is upon us and in just 30 days or so we will know who will be the next President of the United States. I hope once we are past all the politics home buyers will decide it's a good time to buy a house. There is so much negative news about housing, mortgages and the stock market; I think people are just delaying any major changes. If you watch HGTV, you know real estate values are so different all across the country. A modest home in California might be worth $500,000, compared to the same style of home in Nebraska for only $125,000. That's why it's frustrating when the national media says real estate is down or is a bad investment. Here in Nebraska, home prices have risen modestly over time and home prices are a good value compared to the median income in the area. Areas that saw double digit gains in home prices have much more potential depreciation than in Nebraska. Although the market is still a little soft in Omaha, it's also a great time to get a deal. Mortgage update:
As some of you know, I started my career in real estate originating mortgages. Therefore, as REALTOR, I have a solid understanding of the mortgage loan process. Here are some things you might not know about FHA mortgages.
- FHA Mortgages are not for first time home buyers.
- There are not any income requirements for FHA Mortgages.
- FHA Mortgages can be used to purchase a home up to $271,000.
- FHA requires 3.5% down payment, so it's 96.5% financing. Most other conventional mortgages right now will require a 5% down payment.
- FHA requires an upfront mortgage insurance premium of 1.75%, which is added to your loan.
- FHA requires a monthly insurance premium (same as PMI), which costs about 46 cents per thousand borrowed. With conventional mortgages, this is half of what PMI would cost.
- FHA mortgages do not require perfect credit, someone with a 620 FICO might qualify.
Trivia Challenge Question: Thanks to everyone that submitted guesses last month. The correct answer was "My Cousin Vinny" with Joe Pesci and Marisa Tomei.
Name that movie?
Recently, I came across this movie. Here is the quote, "Did you eat a lot of paint chips when you were a kid?" What's the name of the movie? Thanks again for taking a few minutes out of your day to read my real estate newsletter. I appreciate it and welcome any suggestions! Statistics show everyone knows of 3 - 6 people who will buy or sell a home each year. I would really appreciate your referral if you know anyone that will be buying or selling a home in the future. Please forward them my contact information, my website link, or this newsletter. Finally, check out my website called http://www.omaharealtyblog.com/ for recent posts and statistics on the Omaha real estate market. Steve
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Sarpy County Real Estate Market Update
Thank you for checking out my September Real Estate market report for the Sarpy County area, including Papillion, La Vista, Bellevue, Springfield, Gretna and West Sarpy. Active Listings, as of October 2, 2008 and Sold Data from September 1, 2008 to September 30, 2008. Months supply is the number of active listings divided by the number of sold listings for the month. Sarpy County had 139 attached and detached homes sold in September 2008, compared to 156 sold in September 2007, which is down 11%. As of October 2, 2008, there were 983 active homes for sale, which is a 7.07 months supply. September Data Active as of October 2, 2008, Sold 9-1-08 to 9-30-08 Sarpy County
Active listings 983
Sold listings 139
Months supply = 7.07
% change from same month 2007 down 11% Papillion (Area 263)
Active listings 212
Sold listings 30
Months supply = 7.07
% change from same month 2007 down 21% La Vista (Area 264)
Active listings 88
Sold listings 14
Months supply = 6.29
% change from same month 2007 down 26% Bellevue (Areas 260, 261, 262)
Active listings 393
Sold listings 56
Months supply = 7.02
% change from same month 2007 up 10% West Sarpy County Springfield 265
Active listings 29
Sold listings 0
Months supply = N/A
% change from same month 2007 down 98% West Sarpy County Gretna 267
Active listings 159
Sold listings 21
Months supply = 7.57
% change from same month 2007 down 16% West Sarpy County Millard 266
Active listings 110
Sold listings 21
Months supply = 5.24
% change from same month 2007 no change Thanks for viewing my home market report and check out my website at http://www.omahareatypro.com/. If you're considering selling a home, I would appreciate the opportunity to market your home. If you are considering buying a home, be sure to check out my website and search the Omaha MLS for homes and when you are ready I would be happy to help purchase your new home. Information was pulled from the Great Plains Omaha Board of Realtors Multiple Listing Service; OABR deems information reliable but not guaranteed. Prepared by Steve Lauver-REALTOR
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Thank you for checking out my September Real Estate market report for Omaha NE including Downtown Omaha Condos, Midtown - Dundee, UNMC, North Omaha - Benson, Northwest Omaha, West Omaha Homes, Elkhorn, Ralston and Millard homes that are for sale on the Omaha MLS. . Active Listings, as of October 2, 2008 and Sold Data from September 1, 2008 to September 30, 2008. Months supply is the number of active listings divided by the number of sold listings for the month. Douglas County had 406 attached and detached homes sold in September 2008 compared with 514 in 2007, which is down 21%. As of October 2, 2008, there were 3,777 active homes for sale, which is 9.3 months supply of homes. Active as of October 2, 2008, Solds 9-1-08 to 9-30-08
Douglas County
Active listings 3,777
Sold listings 406
Months supply = 9.3
% change from same month 2007 = down 21% Downtown (230,240)
Active listings 358
Sold listings 7
Months supply = 51.14
% change from same month 2007 = down 56% Midtown (231,241)
Active listings 621
Sold listings 48
Months supply = 12.94
% change from same month 2007 = down 30% District 66 (232, 242)
Active listings 219
Sold listings 26
Months supply = 8.42
% change from same month 2007 = up 30% North Omaha (210, 220-223)
Active listings 632
Sold listings 75
Months supply = 8.43
% change from same month 2007 =up 1% Northwest Omaha (211, 224, 225, 233, 234)
Active listings 715
Sold listings 84
Months supply = 8.51
% change from same month 2007 = down 34% West Omaha (245, 246)
Active listings 202
Sold listings 17
Months supply = 11.88
% change from same month 2007 = down 26% Southwest Omaha (243, 244, 253, 254)
Active listings 602
Sold listings 87
Months supply = 6.92
% change from same month 2007 = down 28% Elkhorn, Waterloo (212, 213)
Active listings 165
Sold listings 16
Months supply = 10.31
% change from same month 2007 =up 23% Ralston (252)
Active listings 63
Sold listings 19
Months supply = 3.32
% change from same month 2007 =up 27% Southeast Omaha (250, 251)
Active listings 195
Sold listings 24
Months supply = 8.13
% change from same month 2007 =down 31% Thanks for viewing my home market report and check out my website at http://www.omahareatypro.com/. If you're considering selling a home, I would appreciate the opportunity to market your home. If you are considering buying a home, be sure to check out my website and search the Omaha MLS for homes and when you are ready I would be happy to help purchase your new home. Search all Omaha Homes at http://www.omaharealtypro.com/ When you are there, sign up for my Omaha Home Finder service. Information was pulled from the Great Plains Omaha Board of Realtors Multiple Listing Service; OABR deems information reliable but not guaranteed. Prepared by Steve Lauver-REALTOR
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Mortgage Melt Down Last week I attended a great seminar put on by First Mortgage Company in Omaha for area Omaha Realtors. One of the keynote speakers was George Akers, Executive Vice President with First Mortgage. George started off by showing a couple of video clips from Apollo 13. The first clip was when everything started to go wrong up in space. Tom Hanks says "Houston we have a problem". He then looks out the window and says something along the lines of Houston it appears we are venting some sort of gas." This is a great analogy for the mortgage mess. The current melt down in the mortgage market boils down to banks "Venting Capital". Banks need to maintain so much capital/equity based on assets, loans and deposits. They also need to maintain extra capital for "provision for loan loss" i.e. bad loans. Banks in need more capital can borrow it from other banks, hedge funds, or pension funds. However, the market values for bad loans have plummeted over the past several weeks. A bond may have been worth 80 cents on the dollar is now worth 50 cents on the dollar. Investors are worried about injecting more capital into an institution that has a concentration of bad loans or can't properly determine a value of their loans. So until banks either determine the value of those bonds or those bonds are sold or insured by the government, capital will be tight meaning harder to get loans for small businesses and consumers. The second clip from Apollo 13 was when the engineers go into a room and say we need to make this circle vent fit into this square case by using only the parts on the table. Well, that's what the government needs to figure out to solve this tightening of credit. Should the government provide some sort of a way to purchase bad loans or insure those loans so that banks can go back to making loans to small business and consumers? Thanks for reading my blog Steve STEVE LAUVER
Omaha Realtor
DEEB Realty
www.OmahaRealtyPro.com
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Finished basement
• 1,455 sq. ft., 2 bath, 3 bdrm single story - MLS® $122,500 - Great starter home Meadow Terrace, Gretna - Move in ready. Great ranch home in Gretna. Nebraska. 3 bedrooms, 2 baths, and 1 car garage. Finished rec room in the basement with great stone wet bar, bar frig included new carpet. Large east facing deck. New double driveway, extra space in garage for storage. Perfect starter home. AMA Property information
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