best omaha real estate agents: Things to Avoid After Applying for a Mortgage
- 09/17/19 06:22 AM
Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.
Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not.
1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must … (0 comments)
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best omaha real estate agents: Millennial Buying Power Poised to Boost Homeownership
- 09/12/19 06:31 AM
In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes,
“The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”.
The article continues to describe how millennials have more buying-power than the generations that preceded them, making their interest in embracing homeownership stronger than ever,
“Millennials—the most educated generation—have the highest incomes across their generational cohorts, even when salaries are adjusted for inflation.”
This combination of power and desire has the potential to drive positive growth in the homeownership rate heading into the … (0 comments)
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best omaha real estate agents: The Role Access Plays in Getting Your House Sold
- 09/10/19 06:13 AM
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers.
There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access you can provide to your agent to be able to show your home.
Here are five levels of access you can provide to a buyer, each with a brief description:
Lockbox on the Door – This allows buyers … (0 comments)
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best omaha real estate agents: How Property Taxes Can Impact Your Mortgage Payment
- 09/04/19 06:15 AM
When buying an Omaha home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area?
When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment.
P&I stands for Principal and Interest, and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance, and … (0 comments)
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best omaha real estate agents: Top Priorities When Moving with Kids
- 08/29/19 06:25 AM
According to the Pew Research Center, around 37% of U.S students will be going back to school soon and the rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more.
Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found:
When Purchasing a Home The major difference … (0 comments)
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best omaha real estate agents: What’s the Latest on Interest Rates?
- 08/27/19 06:19 AM
Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market.According to Freddie Mac’s Primary Mortgage Market Survey,
“the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it has been since November 2016.”
Sam Khater, Chief Economist at Freddie Mac, notes how this is great news for homebuyers. He states,
“…consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.”
As a potential … (0 comments)
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best omaha real estate agents: A Great Way to Increase Your Family’s Net Worth
- 08/20/19 06:01 AM
Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.
The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).
These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.
Owning a home is a great way to build family wealth. As we’ve said before, simply put, … (2 comments)
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best omaha real estate agents: The Benefits of Growing Equity in Your Home
- 08/15/19 05:57 AM
Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for homeowners.
1. Move-Up Opportunity With the rise in prices, homeowners naturally experience an increase in home equity. According to the Homeowner Equity Insights from CoreLogic,
“In the first quarter of 2019, the average homeowner gained approximately $6,400 in equity during the past year.”
This increase in … (0 comments)
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best omaha real estate agents: 5 Real Estate Reality TV Myths Explained
- 08/13/19 06:17 AM
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of shows like “Property Brothers,” “Fixer Upper,” and “Love It or List It,” all in one sitting.
When you’re in the middle of your real estate-themed TV show marathon, you might start to think everything you see on the screen must be how it works in real life. However, you may need a reality check.
Reality TV Show Myths vs. Real Life: Myth #1: Buyers look at 3 homes and decide to purchase … (0 comments)
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best omaha real estate agents: Appreciation Is Strong: It Might Be Time to Sell
- 08/08/19 06:26 AM
There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment.
Home values have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble).Appreciation, however, is projected to shift back toward normal, meaning home prices will likely keep climbing over the next few years, … (2 comments)
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best omaha real estate agents: Millionaire to Millennials: The Costly Mistake of Not Buying Now
- 08/06/19 06:14 AM
On his personal website, self-made millionaire David Bach makes a striking statement:
“Not prioritizing homeownership is the single biggest mistake millennials are making.”
He further stated, “Buying a home is an escalator to wealth.”
Bach explains:
“Young adults in particular aren’t hopping on this escalator, and it’s a costly mistake…If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none.”
He then elaborates on the game of homeownership:
“Start by crunching the numbers…actually do the math…This way, you’re really clear on your goals and you won’t just say to yourself, ‘I’ll never afford this!’
… (1 comments)
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best omaha real estate agents: How to Increase Your Equity Over the Next 5 Years
- 07/30/19 06:06 AM
Many of the questions currently surrounding the Omaha real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers.
Here are the results from the Q2 2019 Survey:
Home values will appreciate by 4.1% in 2019 The average annual appreciation will be 3.2% over the next 5 years The cumulative appreciation will be 16.8% by 2023 Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023 What does this mean for you? A substantial portion of family wealth comes … (3 comments)
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best omaha real estate agents: 3 Powerful Reasons to Buy a Home Now
- 07/25/19 06:18 AM
Whether you are a first-time buyer or looking to move up to the Omaha home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.
1. Affordability Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:
Price Wages Mortgage Interest Rate Prices are up, but so are wages – and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ … (0 comments)
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best omaha real estate agents: Is Renting Right for Me?
- 07/23/19 06:17 AM
If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize.
According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years.
When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason. The results of the survey can be … (0 comments)
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best omaha real estate agents: The Surprising Profile of the Real Estate Investor
- 07/18/19 06:17 AM
Over 10% of all residential homes are purchased by investors, and that number continues to rise. Who are these investors?
Many have speculated that the large institutional conglomerates such as Blackstone, American Homes 4 Rent, and Colony Starwood dominate investor purchases. However, a special report on investor home buying by CoreLogic, Don’t Call it a Comeback: Housing Investors Have Been Here for Years, shows this is not the case.
Ralph McLaughlin, CoreLogic’s Deputy Chief Economist and author of the report, explained his findings at the recent National Association of Real Estate Editors conference in Austin:
“Investor buying activity in the U.S. … (0 comments)
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best omaha real estate agents: Should I Refinance My Home?
- 07/16/19 05:59 AM
With the recent lower interest rates, many homeowners are wondering if they should refinance.
To decide if refinancing is the best option for your family, start by asking yourself these questions:
Why do you want to refinance? There are many reasons to refinance, but here are three of the most common ones:
Lower your interest rate and payment – This is the most popular reason. If you have a 5% interest rate or higher, it might be worth seeing if you can take advantage of the current lower interest rates, hovering below 4%, to reduce your monthly payment and overall cost … (0 comments)
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best omaha real estate agents: Americans’ Powerful Belief in Homeownership as an Investment
- 07/11/19 06:19 AM
The Federal Reserve Bank (The Fed) recently released their 2019 Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.
This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to … (0 comments)
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best omaha real estate agents: 5 Powerful Reasons to Own Instead of Rent
- 07/09/19 06:07 AM
Owning a home has great financial benefits.
In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:
“Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in ‘default’ savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity.”
Let’s breakdown 5 major financial benefits of homeownership:
1. Housing is typically the one leveraged investment available
Homeownership allows households to amplify any appreciation on the … (1 comments)
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best omaha real estate agents: Is Mortgage Debt out of Control?
- 07/05/19 06:48 AM
The housing crisis of the last decade was partially caused by unhealthy levels of mortgage debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash.
When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their home). As a result, they walked away. This caused prices to fall even further.
Headlines are again talking about record levels of mortgage debt, making the comparison to the challenges that preceded the housing crash. However, cumulative debt is not an important data point. If we … (0 comments)
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best omaha real estate agents: Top 5 Reasons You Should NOT FSBO
- 07/02/19 06:09 AM
Rising home prices coupled with a lack of inventory in today’s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). However, a FSBO might not be a good idea for the vast majority of sellers.
The top 5 reasons are listed below: 1. Online Strategy for Prospective Purchasers
Recent studies have shown that 95% of buyers search online for a home. In comparison, only 13% use print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home. Do you?
2. … (0 comments)
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Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.
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