Camping Around Omaha

It’s time to get out and enjoy nature now that the weather is getting nicer. Grab a tent or hook up the RV and head out for the weekend. Get away from the bustle and noise of town and do a little fishing, take a nap and decompress for a weekend. Here are some places to consider when getting away around here.

Mahoney State Park

This is the largest park around Omaha and it has plenty to do: a water park, a ball field, driving range, fishing and so much more. There is plenty to do but it keeps busy so call ahead to make sure there’s room. They offer 30- and 50-Amp service and are pet friendly. You don’t even need a tent or RV. They have cabins and lodges available for rent. See the website for details. And if you want to get away from the park a while, go next door to the Strategic Air and Space Museum or to the Henry Doorly Zoo’s Safari.

West Omaha KOA

This campground is outside Gretna, between Omaha and Lincoln on the interstate. They have 50-Amp service, cable TV, propane and wi-fi. Activities include swimming, miniature golf, a jumping pillow and bicycle rentals.

Glenn Cunningham Lake

This 390-acre lake is surrounded by more than 1,000 acres of land. Activities include windsurfing, boating, hiking and biking. It has electric and non-electric sites and supports RVs and tent camping. See the city’s website for details.

Memphis State Recreational Area

This requires traveling some state highways but it’s quiet and out of the way. It has non-pad campsites and does not offer electricity. But it does offer fishing, hiking, wildlife viewing and stargazing. You can see the website for details.

There are plenty of other activities to get out and enjoy the weather. We also have some parks that don’t support camping but do offer some great views. Where do you like to go out here?

Market Report for April 2012

Market Report for Omaha for April 2012

The numbers are in for April and things are looking up over the three months previous. The total number of homes listed for sale in April was 4,509. 1,198 of those were placed under contract. 896 of the homes that had been under contract before closed.

As you can see, the number of houses on the market are up over last month, the number of houses placed under contract are down slightly over last month and the number of houses closed are slightly down. The absorption rate for last month was 5, which means it would take 5 months to sell all the houses available at the current rate. That's slightly tighter than in March, where it was 5.1 months.

Overall, the market is neutral right now. It's not an advantage to either the buyer or the seller.

Credit Reports

Keeping Up with Your Credit Scores

If you are serious about buying a home, having a good credit score is vital. Not only will it determine if you get a loan in the first place, it will determine what kind of interest rate you get. Better scores indicate better credit risks, so they get lower rates. That could save you THOUSANDS over the life of the loan.

The Devil Is In the Details

Each service figures the score differently. Looking at your credit report can find false information, like where someone reported a payment as late when it wasn't. Look over the reports you find and dispute anything that isn't accurate.

Find That Score

Everyone knows about FreeCreditScore.com. It requires you to sign up for a service. Outside of the cute commercials, I don't think that's worth paying for. There are other places out there but they have the same game: get you to sign up for a monthly service.

You're Entitled to a Free Credit Report Each Year

The government says you're entitled to a free credit report each year from each of the three major reporting bureaus. So don't pay a service for your report when you can get it for free just for asking. Go to annualcreditreport.com and get a copy of your report. There's just one small hitch to this, though: it gives you the report but you still have to pay for the score. But the fee is small and you don't have to sign up for a service.

Keep On Top of Things

Now that you know about it, set a reminder in your calendar to repeat each year. Tell yourself to get a report from one of the three bureaus. Set another reminder in 4 months to get a report from another bureau. Then set another reminder to get a report from the third bureau. By keeping on top of things, and doing it now, you can walk into a lender's office with confidence that you won't have much problem getting a loan and a good rate.

The Changing Game of Home Buying

The Times, They Are A'Changing

The market mess we have been through for the last few years has been hard on sellers and pretty easy on buyers. Foreclosures brought market prices way down and there was so much inventory that buyers could beat up on sellers for lower prices, concessions on closing costs and more. But now that we are seeing the bottom of the market, things are leveling out. Buyers no longer have the power they used to have.

Don't Lowball It

With a buyer's market, buyers could send in whatever offer they wanted and sellers would be at their mercy. A lot of times the sellers would take whatever came along and take a loss so they wouldn't be stuck with a house. But now that foreclosure prices are going up due to investors bidding and inventory shrinking, the advantage the buyers have is fading fast.

Get Preapproved

This has always been a smart move and any Realtor worth his salt will insist on a client being preapproved before submitting an offer. No one wants to go through the purchase contract back and forth, just to find out that the buyer can't buy the house. Being preapproved shows the seller you are qualified and serious.

Tune Into the Market

Get to know the market prices. These vary from town to town and even from neighborhood to neighborhood. Make sure to look at items specifically in your price range and only from houses that have sold in the last six months. Realtors can get you a list of houses that have sold and break it down by price range, house style and neighborhood.

Expect Competition

We have seen an increase in market activity. Though it still isn't a seller's market, it's not the buyer's market it used to be. It's closer to neutral and will eventually slip back into a seller's market. We are seeing multiple offers put in on some competitively priced houses.

Do Your Homework

This is really just a summary of the previous points: get preapproved, get to know the market for the neighborhoods and houses you're interested in and stay on top of things. You can't tune out for a month and come back in. In addition, make sure you have the money needed to close.

Bottom of the Market?

Could We Be at the Bottom of the Market?

Home prices have been down quite a bit for the last few years, foreclosures have been up and everyone has been wondering if the end is in sight.

Foreclosure Crisis Is Coming to an End

That's not to say there won't be any more foreclosures. There will be another spike in foreclosures as houses come through from the robosigning scandal. Banks have settled with the state governments so houses should start moving through the foreclosure pipeline now. Investors are snapping up foreclosures as rental properties so prices on the foreclosures are coming up and not dragging down the market price of other homes.

Rental Rates are High

With so many people renting, prices have gotten higher. It's once again cheaper to own than rent.

Interest Rates Are Expected to Rise

Doug Ledba, CEO of Lending Tree, says rates will move higher. The Mortgage Bankers Association is predicting that rates will move to 4.5% by the end of the year.

While it won't happen overnight, we could be coming out of the housing mess. People can see the light at the end of the tunnel, and for once it doesn't feel like it's an oncoming train. The original article can be found here.

Quarterly Maintenance

Take care of your home and it will be a lot easier to live in. You won't have too many of those nasty surprises. Below are some tips for the interior of your house. Do these on a regular basis to keep the gremlins away.

• Wood cabinets and trim. Apply a wood protectant if necessary.
• Interior doors. Lubricate hinges.
• Garage door. Lubricate hardware and inspect the mechanism for free travel.
• Window and door tracks. Check to see if the weep holes are open. Clean out dirt and dust. Lubricate the rollers and latches.
• Basement or crawl space. Check for cracks or any sign of dampness or leaks. Check for any evidence of termites or wood-eating insects.
• Ceramic tile. Check and clean grout.

Do these few steps once every 3 months and hopefully you won't have any big problems. You will see them coming.

5 Ways to Sell Quickly

5 Ways to Sell Quickly and For More Money

Some homeowners are usually motivated to sell a house so they can move on to the next big adventure. They will fix up a house for a year before putting it on the market and make sure every last detail is taken care of. Others will do some light touch-up and call it good. Realtors, of course, want to sell it quickly.

Let Me Count the Ways

1. Give the home "web appeal". Most home buyers these days are starting their searches online. Pictures are key. Take professional pictures. Make sure the toilet seats are down. Make sure the house isn't cluttered and there is plenty of light. Look at the listing online like a buyer would and see if you can change the presentation of the house.
2. Talk about energy efficiency. This is a big one with younger buyers. Note if the appliances and HVAC have been replaced with energy efficient ones. Make note if you've changed out the windows.
3. Pay attention to curb appeal. You don't want to do all that work on presentation if they are too scared to stop in front. Take care of the landscaping. Paint if necessary. Curb appeal is huge in selling a house.
4. Make it move-in ready. Buyers these days don't want to do a lot to a house. If you repaint, do it with neutral colors. Take care of the little things like broken outlet covers. The less they have to do when moving in, the better.
5. Set the right price. This all ties in to the price. Houses that look nice and show well will sell for more than junkers. Take care of the investment you have and others will see value in it. A comparative market analysis (CMA) will tell you the market price.

Final Thoughts

If your house has been on the market a while, see our tips about that. Sit down and have a frank discussion with your Realtor about the price, location and condition of the house. A house will sell quicker and for more money if it is priced according to its location and condition.