Omaha Real Estate Market Update Thank you for checking out my March 2009 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 March 6, 2009 and Sold Data from March 1, 2009 to March 31, 2009.  Months supply is the number of active listings divided by the number of sold listings for the month.  Months supply over 6 months market is more of a buyers market.  Months supply under 6 months is more of a sellers market. Douglas County had 391 attached and detached homes sold in March 2009 compared with 463 in 2008, which is down 16%.  As of April 6, 2009, there were 3,150 active homes for sale, which is... 04/07/2009

Settling concrete can present a challenge when selling a home.  When concrete experiences uneven settling buyers and sellers often believe that the only solution is concrete replacement.  Another cost effective option is concrete raising or also known as "mudjacking."  Fixing a concrete slab now can eliminate bigger issues. How does mudjacking work? A series of holes are drilled through the sunken concrete slab. A cement/grout mixture is pumped under the sunken slab to raise it to the desired height. The holes are then patched with cement. What are the benefits of mudjacking? It costs less than concrete replacement No changes in the color to the concrete No damage to the landscaping or grass Work is completed in hours and not days. Mixan Mudjacking I would like to thank Bob Mixan, Owner... 04/05/2009

Your Open House has been over for two hours and your advertising is still in the driveway!  This is an example of the non-effectiveness of promoting an open house in the newspaper.  Here is a photo taken on Sunday at 5:10 PM and you can clearly see the bright orange bags containing the Sunday paper still in the driveways of two homes.  How effective is the paper for advertising an open house on Sunday from 1-3 PM if the paper is still in the driveway at 5:00 PM?  The newspaper is not an effective method for selling a home in today's market! Thanks, David Matney, CRS, GRI, e-Pro Alliance Real Estate     04/05/2009

I would like to thank Kim Fendrick with Alliance Real Estate for her assistance with the sale of 7018 N Irvington Rd in Omaha, Nebraska.  It is always fun to write "thank you" posts but it is even better when it is one of our own agents.  Kim is a true professional she helped make it a smooth transaction.  7018 North Irvington Rd was previously listed with another broker for 185 days.  Thanks to Kim we got the job done in 19 days!  Needless to say the seller was thrilled.  I would like to give a "shout out" to Tori Ross of Ross-Designs for her assistance in staging the home.  Selling a home is a team sport and I am very fortunate to have a great team in place! This home sold for $154,000 in 19 days! (cash with no seller concessions)   Thanks, David Matney, CRS, GRI, e-Pro Alliance Real ... 04/05/2009

Sometimes the words "price" and "value" are used interchangeably but there is a significant difference between the two. Price is the amount of money someone is asking for in order to sell. Whereas value is what something is worth. Logically the price of a home should reflect its value. It is the value that establishes the price not the other way around. Just because someone is asking for a certain amount does not mean that it is worth that amount. There two scenarios in which I commonly see people making irrational decisions concerning price and value. The first is with sellers. Often sellers will determine how much money they need to net from the sale of their home and then use that to establish a price. The assumption is that buyers will value the home at what it is priced at. This ig... 04/05/2009

When entering the path to purchasing a home, it is a happy time for you and your family, but also one that will bring upon new responsibilities to tackle. Many old homes may need additional repairs or renovations, especially in areas where natural disasters can occur. One of the main items that go unnoticed is taking easy precautions to avoid asbestos exposure. Potential Omaha homebuyers or remodelers should consider that homes built before 1980 could still harvest asbestos.Often appearing in roof shingles, popcorn ceilings, piping and insulation, asbestos became one of the most popular building applications of the 20th century. If any asbestos is suspected in the home, the best thing to do is leave it un-disturbed until a home inspector can determine the best course of action. Disturbi... 04/04/2009

There will be a Job Fair in Omaha on April 8, 2009 at the Holiday Inn on 72nd & Grover.  Based on previous job fairs at the Holiday Inn, attendance will be great.  An added element is that representatives from Kansas will be recruiting.  Currently there are 22,000 jobs available in Kansas.  The types of jobs available cover the gamut of possible positions from clerical to construction to administration.  Salaries will range from $8 an hour to $75,000 a year.   This is ideal for individuals able to relocate. Troy Trumm, Trumm Team - 402-943-9494, Omaha NE Omaha Homes for Sale Omaha Real Estate 04/04/2009

Police believe that a fire Monday at an apartment complex that caused an estimated $260,000 worth of damage was caused by a charcoal grill on one of the balconies.  According to Assistant Marshall, Daryl Giles, charcoal grills and most gas grills are not allowed on apartment balconies. If banned from apartments, renters could be fined. Grill users should be vigilant about where they grill whether home owner or apartment dweller.  Grills should be at least 10 feet from combustible materials. And should be aware of high winds, dry conditions, the presence of small children and pets, and the cleanliness of the grills.  Troy Trumm, Trumm Team - 402-943-9494, Omaha NE Omaha Homes for Sale Omaha Real Estate 04/03/2009

The Robotics Championship will be held April 2 through April 4 at the Omaha Civic Center.  More than 100 teams from through out the country will compete.  The Midwest Regional Robotics Tournament was recently held at Mount Michael in Elkhorn to determine the teams that qualified for the Championship this week.  The top qualifiers at Mount Michael were Titan Blue from Papillion South, Rambo from Papillion, and Team 1046C from Omaha Northwest.   The Create Foundation is an Omaha based non-profit organization that sponsors the championship.  The Foundation fosters the advancement of education in science, technology, engineering, and math. Troy Trumm, Trumm Team - 402-943-9494, Omaha NE Omaha Homes for Sale Omaha Real Estate 04/03/2009

Is the market picking up? It sure looks like it. While the number of homes for sale has gone up by less than one hundred since last month, the number of accepted offers has increased by nearly 50%! Review last month's number (Omaha Real Estate Market - February, 2009) and then look at this month's numbers below. Total Number For Sale 4823 Total Number of Accepted Offers 941 Total Number of Closed Sales 781     % of sellers that accepted an offer 19.51% Absorption rate in months 5.13     Based on the increase in sales, the supply of homes for sale has dropped to just over five months worth of homes to sell. Keep in mind though that as spring approaches the number of homes for sale in Omaha will increase. We will have to wait and see if home sales keep up. * These numbers encompass all re... 04/02/2009

Everyone in this market wants that wonderful proverbial "good deal"... I think in this market most people don't realize the pricing of some of the homes are already at "good deal" pricing...But in general, I couldn't agree more. I want to get my buyer's a good price in EVERY market, but especially this one. Building a home is never going to be a "good deal". Buying a spec home can definitely be discounted and priced well, so don't be confused with buying new construction in general...But if you build, you pay sticker price, and you should because the home is being built to your unique taste. If you like pink tile. It's going in. If the builder were building it for a speculative buyer, they would make specific, neutral choices that appeal to the masses, so if they end up stuck back with ... 04/01/2009

I wanted to congratulate my dad for his teaching award he just received UNMC College of Medicine Class of 1962 Basic Science Outstanding Teacher Award  for the 2nd time.  He won this outstanding award because not only is he a great teacher but the relationships he creates with all of his students.  I remember growing up he would literally take the photos of all of the students (which was hundreds of them) and use them like flash cards to remember who each and every one of them were.     Here is a picture of my dad ( Dr Cornish).  He is the one on the right with the award.   Go ahead...ask me what my dad does.  I have NO IDEA.  All I know he is a Cardiovascular Physiologist. (something to do with the heart)  But I am glad for the difference my dad has made as a teacher.  If he didn't car... 04/01/2009

Sure, I'm biased but click on this link and decide if you would know more about this property from our web site than any other. Click on Visual Tour. This takes NO AGENT INPUT and is free, seamless and a great way to view properties. Click on Microsoft's Bird's Eye View and you see it's proximity to the lake. Click on Google's Map/Street View and then type in "Elementary Schools" on "Search the Map" in lower left corner. No other Broker Web Site I've seen has this feature If a consumer learns to use this, they won't want to be without it, Login and you can save Favorites. View your Favorites on the map AND in a list. You can email your whole list of Favorites at once, an exclusive feature. If a Consumer selects an "Agent-4-Me" that Agent is the only one they'll have to correspond with o... 04/01/2009

A story printed in our local newspaper, the Omaha World Herald, on March 24th reminds one of the Horse Whisperer.   The Heartland Therapeutic Riding Academy is a place where children and adults with disabilities often learn to shed a fear or handicap that coincides with their condition.  Recently, a 12 -year old boy who has never reached out to touch the family dog, reached out to touch the horse he had ridden at the Academy. Heartland Equine Therapeutic academy is a nonprofit organization that was started in 1989.  It now has 13 therapy horses, 13 certified instructors, and over 90 students.  The academy serves those with conditions such as cerebral palsy, spinal bifida, muscular dystrophy, autism, blindness, and strokes.  Generally children ride once a week.  Riding therapy is good fo... 03/31/2009

The Boy Scouts of America will be collecting food on Saturday, April 4th.  They are requesting that residents leave non-perishable items in a bag by the front door where it will be visible by 8:00 a.m.  All donated food items will be given to local food pantries.  The drive is the Scouts effort to help fight hunger in our area.  Troy Trumm, Trumm Team - 402-943-9494, Omaha NE Omaha NE Homes for Sale Omaha NE Real Estate 03/31/2009

Help me with this: We're designing a web site and have a huge difference of opinions on how to handle these scenarios: Scenario 1: One consumer asks for a Private Showing on 4 properties. Those 4 requests go to 4 different REALTORS®. Scenario 2: That Consumer's requests go to one REALTOR® 4 times.   If M.I.T. is correct in their study last year, there's a 100 X greater chance of a favorable result if you get back to that customer within 5 minutes vs. even 30 minutes, let alone a day, etc. 98% of consumers say they'll work with the first REALTOR® to respond. We're sending out an "Instant Agent Alert®" text message that tells you the clock is ticking and you should check your email for that lead. 2 part question: What's better for the Consumer? (Leading question; a quick response is bette... 03/31/2009

I appreciate why people want to do For Sale By Owner. I think its a great thing to consider if you are going to be upside down on your mortgage and you have no other choice when you are broke because doing a short sale will indeed hurt your credit. However, would Realtors still be in business if this was an effective way to sell a home? Probably not. I am astounded sometimes to find commercial real estate agents (who do not know about residential and are not a part of the MLS), former REALTORS, and even builders try to sell FSBO (for sale by owner)...I know it is an ego issue with most of them...But honestly, if I were no longer an agent, I know that I can't possibly do the work that an active agent could. I simply wouldn't and couldn't have the tools or market knowledge to effectively ... 03/30/2009

I love the show Bought & Soldon HGTV. Who doesn't love HGTV? I love all shows regarding real estate and they have many to choose from. The only unfortunate part is that the advice that comes from these shows is not always reliable for the Omaha, Nebraska market. For instance, on Bought & Sold they are constantly "staging" homes, as in paying 1% of the price of the home to bring in a crew, furniture, and decor to make the home its best. Most people hardly have the money for the % of commission to pay their agents, let alone an extra 1% for props. Homes where this is taped (with views of Downtown Manhattan) they run well over $400k up to millions. The average home price in Omaha is around $150k and dropping I would assume. There is just simply no market for the cost of staging. I "stage" ... 03/30/2009

Below is a summary of the Omaha Real Estate blog posts for March, 2009 Just in case you have been too busy enjoying the weather lately to keep up on my blog, below is a summary of some of the highlights from last month's blog posts. Property Valuations in Omaha are Behind the Times Omaha Real Estate Horror Story: The Backstabbing Buyer's Agent Papillion Named Most Affordable Suburb in Nebraska Strong Nebraska Employment Helps Maintain Omaha Real Estate Market Omaha Real Estate Horror Story: The Vanishing Listing Agent How Serious are the Buyers? Part III How Serious are the Buyers? Part II Also if you or someone you know is looking for a new home. Check out the two new homes we put on the market. 19826 Sycamore Dr in the Northridge Estates subdivision of Omaha 9908 S 9 Cir in the Avery ... 03/30/2009

This one always kills me when people put in their marketing comments; "Priced $20,000 below tax assessment" OR "Priced below appraisal" Woopy Dee Doopty! Tax assessments as we all know are imperfect in their design. They use some formula to try to come up with the value of a home without knowing what kind of condition it is in, what it looks like or has to attribute or hinder it. It's why year after year people fight them because they can be sooo completely off base from what a home will actually sell for. Douglas and Sarpy County have been trying to raise the assessments because so many were so low, but now that we have had the reversal of issues where these newly assessed values done are coming up higher that what the home could actually sell for. Tax Assessments should never, ever be... 03/27/2009