Omaha's Creepy Crawlies

It’s a Bad Summer for Spiders

We have spiders in Omaha – lots of them. The place isn’t exactly crawling with them but they are worse this summer. The news says it’s probably because of the mild winter and really warm summer we’ve had.

Spiders in Omaha

Wolf spiders are pretty common in Omaha. They’re big but beneficial. They don’t build webs; instead, they go out and hunt insects. They love crickets.
Brown recluses are the ones really growing around here. They are not aggressive but do have a nasty bite. It’s rarely fatal but does cause big red spots at bite area.
Black widows can also be found around here. Like the brown recluse, the black widow’s bite is rarely fatal but does cause nasty sores.

Dealing with Spiders

Spiders are really creepy and you don’t want them around. I can relate. Here are some steps for controlling them:

• Get rid of other insects. Don’t just kill them. Get rid of them because the brown recluse favors dead insects.
• Vacuum the corners of the house.
• Reduce the clutter in the house.
• Use glue traps with bait.
• Remove litter around the house, inside and outside.
• Repair holes in the screens.

A Little More Information

You can check out the Brown Recluse Spider site. It covers all kinds of spiders, not just brown recluses.

VA MPRs

VA Loan Property Requirements

Around here in Bellevue and in Sarpy County, we see a lot of VA loans because of Offutt Air Force Base and the large military community. VA loans are great loans for our military members to use when buying homes. And like FHA loans, VA will have some things to say about properties it guarantees. It wants to make sure the property meets basic safety, sanitary and structural integrity standards.

The Loan Process

The lender will schedule an appraisal with the VA. The VA will send out one of its inspectors to look over the property and make recommendations. These items will need to be remedied in order for the loan to proceed. Some items can be appealed but not if they relate to structural integrity or safety.

What Are Some of the Things the Appraiser Looks At?

The appraiser wants to make sure the house meets local codes. The VA will want any items not in line with local code to be fixed. The house cannot be under power lines. The heating and air conditioning units need to be big enough to service the house. The house must be accessible from a public or private street and not go through another property – i.e., it’s not landlocked.

The Specific Guidelines

The guidelines are several pages long and are a bit much for a blog post. However, you can find a Word document from the VA here. It’s called “Chapter 12, Minimum Property Requirements.”

You can also see VA’s website.

FHA Repair Requirements

Sellers used to be loath to approve a sale to an FHA buyer because FHA required so many expensive repairs to property before approving the loan, and it was the sellers who had to pay for the repairs. But FHA softened their rules in 2006 and now dealing with them is less painful. They concentrate on the three Ss: Safety, Security and Soundness. Basically, it has to be a safe home to live in and get out of.

The New Guidelines

While there are no hard and fast rules about which items will be required, here are some ideas:

• Occupants can’t safely get from the bedrooms to the outside of the house.
• Peeling paint in a house built before 1978.
• Roofs that may have less than two years of life left, or that are leaking.
• Excessive settling and/or cracks in the foundation.
• Leaky pipes or water connections.
• Wood rot
• Exposed wires, open electrical boxes.

Repairs

Either the buyer or the seller can repair these items. However, in most cases, these will need to be done before closing. If the repairs have to be put off until a later date (such as something outside during the winter), funds will be escrowed. If a repair is simple enough that a homeowner can do it, HUD considers it a minor repair. Other repairs will need qualified workers and completed HUD forms to verify the work has been done.

Find Out More

FHA has some good information here.
HUD has a page you can find here that talks about this.
Rural Development has a PDF here that lists items.

Remodeling Cost Surprises

Remodeling Your Omaha Home

While we have talked before about remodeling your home and the costs involved, keep an eye out for some surprises that can jump out and bite you.

• Higher Property Taxes.   Nebraska is well known -- or, should we say, infamous -- for its property taxes.  The contractors will pull permits and this lets the assessor know your house is now more valuable.
• Unwanted Critters.  You could uncover termites, ants and more.  You could also uncover improper wiring, mold or asbestos.  While it's good to know these problems exist, it will cost you to fix them.
• Storage.  You'll need somewhere to store all your stuff.  You might be able to find someone with extra room but if you can't, renting a storage unit will cost you over and above the renovation cost.
• Building Codes.  Make sure the city won't want you to change something because you're changing the house.  Those pesky permits will alert them to changes to your house and they could request changes in smoke detectors or something else.
• Utility Bills.  Who's paying for all the electricity and water your contractors are using?
• Eating Out.  Even McDonald's is expensive these days.  Multiply that by several weeks of eating out and you have a chunk of change the size of your cholesterol numbers.
• Pet Boarding.  Fido might need a place to stay.
• Dumpsters and Portable Toilets.  These kind of explain themselves, don't they?

The original article can be found here.

RiverFest 2012

RiverFest 2012 in Bellevue

We all love a good festival. It’s a chance to get out, see some people, have some good food and take part in lots of different activities. RiverFest is going on again this year and after a few years in an alternate location, this year it’s back at the riverfront.

Where and When

While it used to be at Haworth Park, this year it’s at Kramer Park (just north of Haworth on Highway 370). It takes place starting Friday night at 6 p.m. and goes through Saturday night around midnight.
There is a $1 admission charge.

Activities

Activities include Red, White and Que – the Nebraska State Barbecue Championship and Music Festival. Musical acts include Trixie and the Nooners, Ditchin Kathy, Impulsive and Grand Theft Girlfriend. Over seventy competitors will be in the barbecue competition. Do you love some good barbecue? Then this is the place to be this weekend.

But Wait, There’s More!

Other activities include:

• An Iron Chef competition.
• Kids’ BBQ Contest.
• Car show.
• Beer garden.
• The Pancake Man. Who doesn’t love pancakes and watching him work his magic?
• KidZone.

Where Can I Find More Information?

You can find a complete schedule of events here.

Omaha Market Report for June 2012

Market Report for Omaha for June 2012

The numbers are in for June and things continue their upward trend. The total number of homes listed for sale in June was 4,733. 1,066 of those were placed under contract.

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 down slightly. The absorption rate for last month was 4.1, which means it would take 4.1 months to sell all the houses available at the current rate. That's slightly looser than in May, where it was 4 months.

While the number of houses that have gone under contract have gone down over last month, they have increased over this time last year. What this chart doesn't show is that while the average home price has hovered at around $210,000 for the last three months, the average selling price has increased from $162,000 to $183,000. The days on market has gone down from 71 days on market to 62 over those same three months.

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

Eh, What's Up Doc?

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Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®