Omaha, NE Real Estate News

By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Home prices have appreciated considerably over the last five years. This has some concerned that we may be in for another dramatic correction. However, recent statistics suggest home values will not crash as they did a decade ago. Instead, this time they will come in for a soft landing. The previous housing market was fueled by an artificial demand created by mortgage standards that were far too lenient. When this demand was shut off, a flood of inventory came to market. This included heavily discounted distressed properties (foreclosures and short sales). Today’s market is totally different. Mortgage standards are tighter than they were prior to the last boom and bust. There is no fear that a rush of foreclosures will come to market. The Mortgage Bankers’ Association just announced th...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Every family has a list of important dates. We celebrate birthdays, anniversaries, pet adoptions…and the list goes on. For 64.4 percent of households in the United States, this list includes the day they became a homeowner for the first time! Why is this date important? Homeownership is not just a roof over your head! It represents shelter, stability, wealth, and pride! For decades, homeownership has been an important part of the American Dream! However, many question if the next generations see the same benefits of homeownership as their predecessors. In case we have forgotten, some of those benefits are: Non-Financial Benefits 1) Educational Achievement: Homeownership has a positive impact on academic achievement, including reading and math performance in children 3-12 years old. 2) ...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
The housing market has been hot for a while now. Homes have been flying off the shelves as fast as they have been listed. Buyers have been competing in bidding wars just to find a home to buy, let alone find their dream home. This ‘seller’s market’ has driven home prices to new heights. Home price appreciation averaged over 6% across the country. However, home price growth has recently started to cool down. The latest report from CoreLogic shows that home prices have only risen by 4.7% over the last 12 months. Many buyers and sellers planning to enter the housing market this year have started to wonder if we are headed towards another housing crash. Ralph McLaughlin, Deputy Chief Economist at CoreLogic, recently stated in an interview, “There’s no reason to panic right now, even if we ...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Many homeowners believe that rising interest rates and home prices have scared away buyers and therefore have not listed their houses for sale. However, the truth is that buyers who were unable to find a home last year are out in force, and there are even more coming! NerdWallet’s 2018 Home Buyer Report revealed that: “Approximately one-third (32%) of Americans plan to purchase a home in the next five years. Millennials are most likely to have such a purchase in their five-year plan (49%), versus 35% of Generation X and 17% of baby boomers.” As we can see, buyers are optimistic! According to the report, here are the top reasons Americans plan to buy: The most common reason Americans prioritize buying is that they believe it’s a good investment! If you’re a homeowner looking to sell, 20...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2018 at 54% of all buyers. It is no surprise that buying a home is more attainable with two incomes to save for down payments and contribute to monthly housing costs. However, many couples are also deciding to buy a home before spending what would be a down payment on a wedding. Last year, unmarried couples accounted for 16% of all first-time buyers. If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2018, while single men accounted for 10% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to want to own their home, rather than ...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
How To List Your Home for the Best Price If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018. The map below shows the results of the latest index by state. Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly. This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% appreciation, with the majority of the country gaining at least 4.0%! The prediction for the cou...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
One of the biggest challenges sellers face when listing their house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house. Those planning to sell soon are in luck! Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes. “The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
The largest obstacle renters face when planning to buy an Omaha home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses. In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment! According to the “Barriers to Accessing Homeownership” study commissioned in partnership between the Urban Institute, Down Payment Resource, and Freddie Mac, 39% of non-homeowners and 30% of those who already own a home believe they need more than a 20% down payment. The percentage of those who are aware of low down payment programs...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Recently, David Greene, co-host of the BiggerPockets podcast and a nationally renowned author and speaker, wrote an article in Forbes explaining how investing in real estate could help build wealth. Many of the points he made also apply to a family owning their own home. Here are a few:1. Appreciation “The rising of home prices over time, is how the majority of wealth is built in real estate. This is the ‘home run’ you hear of when people make a large windfall of money. While prices fluctuate, over the long run real estate values have always gone up, always, and there is no reason to think that is going to change. One thing to consider when it comes to real estate appreciation affecting your ROI is the fact that appreciation combined with leverage offers huge returns. If you buy a prope...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018: Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense. Bottom Line Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.  
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Whether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What is actually happening with mortgage rates? Are home values dropping or are they just rising at a slower pace? What impact will the economy have on the housing market?If you are either a buyer or seller (or both), you need to know what it will mean to your family if you go ahead with the move. You need to understand three things:1. What is happening in the housing market right now?Consumers must get past those fear-mongering headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want to make an educa...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
In today’s fast-paced world, where answers are a Google search away, there are some who may wonder what the benefits of hiring an Omaha real estate professional to help them in their home search are. The truth is, with the addition of more information, comes more confusion. Shows like Property Brothers, Fixer Upper and the dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home. Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in the way of achieving them. Buying and/or selling a home is definitely not something you want to DIY (Do It Yourself)! Here are just some of the reasons you need a real estate professional in your corner: There’s more to real estate than finding a house y...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price. In today’s shifting Omaha real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year. They will have to employ the same strategy: be the closest without going over! As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search! Over the last six months, more inventory has come to market while the mon...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Homeowners who purchase their homes before the age of 35 are better prepared for retirement at age 60, according to a new Urban Institute study. The organization surveyed adults who turned 60 or 61 between 2003 and 2015 for their data set. “Today’s older adults became homeowners at a younger age than today’s young adults. Half the older adults in our sample bought their first house when they were between 25 and 34 years old, and 27 percent bought their first home before age 25.” The full breakdown is in the chart below: The study goes on to show the impact of purchasing a home at an early age. Those who purchased their first homes when they were younger than 25 had an average of $10,000 left on their mortgage at age 60. The 50% of buyers who purchased in their mid-twenties and early-30...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
You may have heard that the housing market is softening. There is no doubt that buyer traffic has decreased. There are fewer purchasers in the market than there were last month and at this time last year. What you may not have heard, however, is that there is still a severe shortage of listing inventory in many regions of the country.In a recent interview discussing the housing market, First American’s Chief Economist Mark Fleming put it simply:“The biggest challenge is really the availability of supply.”When we look at available inventory numbers released by the National Association of Realtors (NAR), we see that the actual number of homes for sale has decreased in each of the last five months. What does this mean to you as a seller?The best time to sell is when there is less competiti...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate. For those homeowners staying at their first residence, AccuWeather warns: “The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.” Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home! According to the Investment & Vacation Home Buyers 2018 Report by NAR: “72% of vacation property owners and 71% of investment property owners believe now is a good time ...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
Following last year’s real estate market was like riding a rollercoaster. The market started off strong in 2018 and then softened before finishing with a mild flurry. However, one thing that did not waiver was America’s belief that owning a home makes sense from a financial standpoint. An end-of-the-year survey by the Federal Reserve Bank’s Center for Microeconomic Data revealed that: “The majority of households continue to view housing as a good financial investment.” And that percentage has increased over the last three years.   Bottom Line Though there is some uncertainty as to how the real estate market will perform over the next twelve months, one thing remains very certain: America’s belief in homeownership.  
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory. Interest Rates Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% for a 30-year fixed rate mortgage last week. Despite the recent drop, interest rates are projected to reach 5% in 2019. The interest rate you secure when buying a home not only great...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
This year started strong for real estate, but then the market began to soften. Home inventory in the starter and move-up categories dwindled to almost nothing, mortgage rates were projected to rise, and home sales had decreased for several months in a row.To many, the outlook heading into 2019 appeared dim… at best.Then, in a 24-hour window last week, things seemed to change. On Wednesday, the National Association of Realtors’ (NAR) revealed in their Existing Homes Sales Report that home sales had INCREASED for the second consecutive month. The next day, NAR’s economic research team announced that the percentage of first-time buyers in the market was higher than last month and even higher than a year ago.What happened to turn around the downward momentum in the market? You only needed t...
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By The Trumm Team Omaha Homes for Sale, Real Estate
(Keller Williams Greater Omaha)
One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan. Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will pay over the life of your loan and can also help to shave years off the loan as well. When you make ‘extra’ payments toward your loan, the key is to let your lender/bank know that you want the extra funds to go toward your principal balance as they will not automatically do this for you. You don’t have to double your mortgage payment to make a big differ...
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