an ongoing conversation place for everything real estate

World's Greatest Landlord!

If you polled a thousand landlords and asked them what the number one headache in owning rental property was, you would most likely get one of three answers… 

1) Getting the rent ON TIME

2) Property damage or unreported maintenance issues

3) Picking the right tenant

In a three part series, let’s talk about these items and some relatively easy steps to alleviate most of the headaches of both. Of course there is certainly not a ‘one size fits all’ solution but a couple of techniques that I’ve advised my investor clients about over the last twenty years have proven to work more often than not.

First let’s discuss the number one issue, collecting your rent on time. For example, let’s assume you have a rental house that you are going to rent for $1,000 per month. That’s an annual rent of $12,000 right?  What you do is increase your rent to $1,075 per month with the following clause in your lease:

 “If all rents are collected prior to the 5^th of each month, then your December rent is FREE”

For most tenants, having the chance to skip their largest bill in December; the month that always seems the tightest; is absolutely wonderful. Many of my investors get Christmas cards from their tenants thanking them for being able to provide the presents for their families without hurting the family budget.

Being the WORLD’S GREATEST LANDLORD, you will have a waiting list for their next available house compiled of referrals from past and present tenants. Imagine never again having to run an ad or keep a house vacant more than a few days for cleaning and prepping for the next tenant! That alone is worth the price of admission on my blog today! (Oh yeah, it’s free!)

As long as you are a good landlord in other respects (addressing maintenance issues quickly; not fixing items ‘the cheapest way possible’) your tenant retention will be significantly higher using my ‘December free’ program.

If you keep a tidy rental and everything is in good repair, you shouldn’t have much of a problem getting an extra 5-7% over ‘market’ with those conditions. The investors I’ve had using this technique over the last 20 years have absolutely loved it.

Let’s take a look at the numbers. $1,075 times 11 payments equals $11,825, just $175 short of what you WOULD have collected at $1,000 per month. Any landlord under the sun would gladly give up $175 to have all their rent payments on time. Whatever your numbers are, make it work for you. Just take your annual expected rent and divide by 11 to get your new rent, make it about 5-7% over what you would have charged and you’ll be fine. And remember, if they’re late, you pocket an extra months rent at year end.

This technique is certainly not for the part-time investor. Make sure you have enough set aside in December to make all your debt service payments should your tenants live up to their end of the bargain, and believe me, most of them will.

Obviously every situation is different. One of my investors found that if a tenant went past the deadline, then it seemed to be a recurring issue since the incentive was gone. What he did was allow one ‘late’ payment up until the 15^th and they could still qualify for ‘half rent’ in December. That has proven to work pretty well for him. You also need to figure out what to do for incentive based on when your lease starts. If it starts in July, maybe you offer a half month the first year and a full month every year after that.

Subscribe to my blog so you won’t miss future installments of “How to be the WORLD’S GREATEST LANDLORD”. We’ll be discussing “property damage and unreported maintenance issues” as well as “picking the right tenant”.  And oh yeah, Happy Landlording!

Bill Swanson is an agent with CBSHome Real Estate, with over 20 years of experience helping investors acquire and sell properties in the Omaha metro area. Contact Bill at Bill.Swanson@CBSHome.com

Tagged Under : Buying Houses, Choosing an agent, home ownership, Rent vs Buy

CBSHome Oakview Mall

OK, well maybe you won’t actually be purchasing a house on your next shopping excursion but if your travels take you to the Oak View Mall, you can stop in at the CBSHome office for any and all of your real estate needs. We want to be your convenient real estate location.

The office is open whenever  Oak View Mall is. There is always a helpful friendly agent available to answer any of your real estate questions. Wondering about the tax credit? Is there a house you have always been meaning to ask about but never got around to it? We can help.

If you are thinking of selling your property, ask us how your house can be displayed on the 52 inch monitors to the public. Oak View Mall is Nebraska’s highest traffic mall with over 14 Million visits per year.  Our sellers’ properties are constantly on display whenever the mall is open at the most visible spot on the food court level.

We are open with hours that are convenient to you! Most of the real estate offices in Omaha are closed at 5 or 6 OClock at night.  The CBSHome Oak View Mall office is open from 10am until 9pm every day except Sunday (11-6). The phone number is (402) 330-0807. Give us a call, especially in the evenings if you have a question that can’t wait until the next day.

Free Book

Another convenient feature is our periodic seminars for the public. Our next seminar is scheduled for Tuesday, March 9th at 6:30 pm. We will be presenting the “Five Biggest Mistakes First Time Homebuyers Make“. We will also answer questions about the tax credits as well. Each person or couple in attendance will receive a free copy of  David Bach’s Book “The Automatic Millionaire Homeowner” Please RSVP via email to Bill.Swanson@CBSHome.com.

If you have any questions and can’t make it to the seminar, please stop in at the mall office anytime!

Tagged Under : 6500 tax credit, 8000 tax credit, Buying Houses, Choosing an agent, financing a home

What is your 'Walk Score'?

In our neverending quest to be the information destination for real estate in Omaha, now each and every listing on the CBSHome.com website has a tab to calculate a property’s ‘Walk Score’. What is a ‘Walk Score’? You ask? Well, read on…

Walk Score helps people find walkable places to live. Walk Score calculates the walkability of an address by locating nearby stores, restaurants, schools, parks, etc. Walk Score measures how easy it is to live a car-lite lifestyle—not how pretty the area is for walking.

Picture a walkable neighborhood. You lose weight each time you walk to the grocery store. You stumble home from last call without waiting for a cab. You spend less money on your car—or you don’t own a car. When you shop, you support your local economy. You talk to your neighbors.

What makes a neighborhood walkable?

· A center: Walkable neighborhoods have a discernable center, whether it’s a shopping district, a main street, or a public space.
· Density: The neighborhood is compact enough for local businesses to flourish and for public transportation to run frequently.
· Mixed income, mixed use: Housing is provided for everyone who works in the neighborhood: young and old, singles and families, rich and poor. Businesses and residences are located near each other.
· Parks and public space: There are plenty of public places to gather and play.
· Pedestrian-centric design: Buildings are placed close to the street to cater to foot traffic, with parking lots relegated to the back.
· Nearby schools and workplaces: Schools and workplaces are close enough that most residents can walk from their homes.

Want to know your walk score? Just go to www.WalkScore.com and type in any address in the U.S.

OK, I’ve typed in my address and gotten my ‘Walk Score’. What does my score mean?

Your Walk Score is a number between 0 and 100. Here are general guidelines for interpreting your score:
· 90–100 = Walkers’ Paradise: Most errands can be accomplished on foot and many people get by without owning a car.
· 70–89 = Very Walkable: It’s possible to get by without owning a car.
· 50–69 = Somewhat Walkable: Some stores and amenities are within walking distance, but many everyday trips still require a bike, public transportation, or car.
· 25–49 = Car-Dependent: Only a few destinations are within easy walking range. For most errands, driving or public transportation is a must.
· 0–24 = Car-Dependent (Driving Only): Virtually no neighborhood destinations within walking range. You can walk from your house to your car!

There you have it! Everything you ever wanted to know about Walk Scores!

Bill Swanson is an agent with over 20 years experience at CBSHome Real Estate, an affiliate of Berkshire Hathaway, in Omaha, Nebraska. For any and all of your real estate needs, email Bill at Bill.Swanson@cbshome.com or visit www.BillSwanson.com today.

Tagged Under : Buying Houses, Choosing an agent, Community News

Making the Monthly Mortgage Payment

What??? How can that be? Well, it’s all in the numbers. This is a headline similar to nearly all of the news stories we read throughout 2008/2009 regarding our mortgage crisis.

So how in the world can 40% of the nation’s homeowners NOT make an on-time mortgage payment last month? Well, it’s simple. What I haven’t mentioned yet is that according to the US Census Bureau’s American Housing Survey released in late 2008, approximately 34% of American Homeowners own their home “free and clear” with no mortgage payment due… Hmmm.

The rest of the puzzle? According to the Mortgage Bankers Association, the percentage of mortgage payments that were ‘late’ in late 2009 was around 9.34% (which equates to about 6.36% of homeowners). So there you have it; 34% who made NO mortgage payment (thus the statement is true regarding NOT making an on-time mortgage payment… or ANY mortgage payment) plus the other 6% equals 40%.

Now please keep in mind that 44% of the nation’s foreclosures last year were concentrated in just FOUR states; California, Arizona, Nevada, and Florida. Here in Nebraska, the percentage of loans in foreclosure late last year was among the lowest in the nation, only 4.13%!

For years, according to Transunion, the delinquency rate on mortgages has been about 2%, it just recently increased to 9% in the third quarter of last year. What did we hear? We heard that the delinquency rate QUADRUPLED. We didn’t hear that 91% of mortgages are being paid on time. That wouldn’t make headlines!

We can all debate as to WHY the news gets reported the way it does, especially in the last two years. I guess it comes down to the old adage; “If it bleeds, it leads”. I firmly believe that the skewed reporting of exactly how ‘bad’ the news supposedly was in the last two years struck fear into all homeowners, and to the detriment of the nation’s real estate industry, all potential home buyers over the last two years. They reported, people reacted, they reported the reaction, people reacted again. Etc… I believe that the headline grabbing over-dramatic reporting of the ‘crisis’ elevated the ‘crisis’ tenfold.

It reminds me of a story I heard about an old Indian Chief and a local Weather Service office:

The Indian Chief thought that he’d better start preparing for winter so he sent all the braves out to collect wood. As he watched them return laden with timber from the forest he suddenly felt that he ought to check his forecast so he phoned the local weather office.”Tell me, is it going to be a bad winter?”"Yes” said the forecaster “It will be a bad one”

So the Chief told the braves that they didn’t have enough wood and sent them back into the forest again. They returned with more wood but once again the Chief had doubts and he called the forecaster to confirm.”It is going to be a really severe winter” replied the forecaster.

The Chief look at the wood supply, decided that more was required and the braves were dispatched back in to forest. The Chief called the forecaster.”Are you sure it’s going to be a really severe winter”"Look” said the forecaster “It’s definitely going to be the worst winter on record – the Indians are gathering wood like crazy!”"

Am I naïve enough to really think that if things were reported differently we’d all be holding hands singing Kumbaya? Of course not! I do beleive that the ‘crisis’ would have been a whole lot less severe had they reported the facts differently.

There is still a lot of Real Estate activity going on in Omaha Nebraska! It is an absolutely GREAT time to buy right now. There is plenty of incentive with the two TAX CREDITS that are available. There is also the fact that FHA is getting ready to change the rules AGAIN and make it more difficult for the first time buyers to get into a home. I would urge you to act now if you are an FHA buyer.

I still have some clients that are ‘waiting’ for the bottom of the market before they make their move. The fact of the matter is that I believe the bottom of the market is now passed us up. That’s the funny thing about the bottom of the market, you never know it was here until it’s gone. My advice is to get out there and buy your home this spring! You’ll be glad you did.

Bill Swanson is an agent with over 20 years experience helping buyers and sellers in the Omaha metro area. CBSHome Real Estate is an affiliate of Berkshire Hathaway. You can contact Bill at Bill.Swanson@CBSHome.com

Tagged Under : Buying Houses, home ownership, Omaha Market Update, tax credit

The "House-Flipper"

According to current FHA guidelines, if you want to utilize FHA Financing, you are prohibited from doing so if the property you are purchasing has not been in title for 90 days with the current seller.

In my opinion, if a property is sound, meets all inspections, and appraises at or above purchase price any FHA approved purchaser should be able to purchase that house, no matter how long the seller has held title.

If an investor/contractor takes the risk to purchase the house and the expense of preparing it for sale, they should not be restricted in the type of financing available to that property.

I guess FHA has decided that makes sense as well. In a somewhat surprising announcement, FHA has announced that it is waiving the property flipping rule for one year starting February 1, 2010, with regard to subsequent sales by purchasers.  Click here for the 5 pages of waiver conditions.

In the waiver, FHA said it was taking this action to address the foreclosure crisis.

The waiver is limited to sales meeting the following conditions:

• All transactions must arms-length; no identity of interest between buyer, seller or third parties
• Sales w/ 20% increase over seller’s acquisition cost have a few more conditions to meet regarding property condition

Please click here to view all of the guidelines associated with the waiver. All in all, it’s great news for the investors and great news for all potential homebuyers who find and would like to purchase a ‘flip-house’.

If you are interested in flipping houses, email Bill at Bill@BillSwanson.com to get on his ‘preferred investor’ list to get notified of all of the repossessions and foreclosures in your market.

Bill Swanson is an agent with CBSHome Real Estate with over 20 years of experience representing both owner occupants and investors.  CBSHome is an affiliate of the Berkshire Hathaway company.

Tagged Under : Mortgage

Many people look to their neighbors’ homes to see what they sold for when they estimate what value their home may appraise for. However, that is just one of the pieces of the appraisal puzzle.

Here are some of the factors that are considered when determining value:

· Incentives and concessions. Most of today’s buyers expect to pay the lowest possible price and still get some extras. Sellers and home builders are offering money toward closing costs, remodeling and decorating, upgrades, and association dues. The price set initially may not be the final price once concessions are factored out. Appraisers care about that final number.

· Closing date. Forget what comparable neighborhood houses sold for a few months back. Appraisers want prices from the most recently closed transactions. “If a sale was more than 45 days ago, even 35, the price may be irrelevant.

· Condition and curb appeal. Appraisers typically find several properties with similar interior and exterior features to determine value. When markets are healthy, blemishes matter less, but when markets soften, problems—a dated kitchen or barren lawn—can reduce prices and deter buyers. The difference in value is not just the repair costs but the time and hassle to make them. It’s better for sellers to do work in advance.

· Foreclosures. Appraisers technically shouldn’t consider neighborhood foreclosures when valuing a home, since foreclosures don’t meet the Appraisal Institute’s definition of a property reasonably exposed in a competitive market. But when several neighborhood homes are abandoned, it’s hard not to caution sellers that this is a troubling trend and may affect home values.

· Changing demographics. If a house is in an up-and-coming area, the value can be expected to rise. A location that’s perceived as safe also may help attract the increasing number of single female buyers.

· Economic clouds. If there’s an oversupply of comparable homes for sale, or if the local job market is suffering, buyers may be hesitant to invest.

· Chemistry. It’s hard to account for those times when buyers fall in love with a house, despite a high price, poor condition, or tough economy. Emotional attachment is a factor that can’t be predicted. It’s what makes it harder to appraise homes versus commercial buildings, where buyers care more about the bottom line.

For more information on the value of your home contact bill.swanson@cbshome.com, or visit www.billswanson.com for a free online home valuation.

Tagged Under : Home Selling Tips, Selling Houses

Do you have any neighbors  you think should have their home featured on this site?

Just E-mail your pictures to Santa today! Remember to include your location and any name you’d like to be credited  -
captions welcome!

This site is here to show those houses where the residents are likely celebrating a happy holiday, but have no sense of decency in how they choose to celebrate. They  show the garish, the ugly, the weird.

For your own sake, and the sake of your neighbors, do not try this at home.

Average life expectancy in years of a thermostat and a compactor, respectively the longest-lived and shortest-lived appliances in the American home, according to the

National Association of Home Builders/Bank of America Home Equity Study of Life Expectancy of Home Components.

One Day Camps at the Henry Doorly Zoo This Winter Break!

Hey kids! Kick-off your winter break with Omaha’s Zoo day camps, voted Best Day Camp in Omaha for the second year in a row by Nickelodeon’s Parents’ Picks! Explore WILD animals and their natural habitats, interact with zookeepers, study animal behaviors, conduct fun experiments and become the envy of your friends.

Secret Santa – Bring cheer to Zoo animals this year by making them holiday gifts. We’ll have a Zoo-rific time learning about animal antics and watching them enjoy special treats. 5-7 Mon, December 28 9 a.m. – 3:30 p.m. 8-12 Tues, December 29 9 a.m. – 3:30 p.m.

Shark Bait – Get up close and personal with the top predator in the sea. Explore amazing adaptations and separate shark facts from fiction. You’ll also get to experience a shark feeding at the Zoo. 5-7 Wed, December 30 9 a.m. – 3:30 p.m. 8-12 Wed, December 30 9 a.m. – 3:30 p.m.

Give a Gift to Nature – This holiday season give a gift to nature while spending time with your family. Explore the natural world and create a special project together to benefit the wildlife in your own backyard. Sat, January 2 9 a.m. – 12 p.m.

To register or for more information, please click here.

If you’re tired of shoveling snow off your stairs or slipping on ice that blankets them in the mornings, then here’s a gadget to make life a little easier:
Outdoor heated stair mats.
Install these guys on your stairs, and they’ll melt up to 2″ of snow per hour and keep ice from

forming and making footing treacherous.
The stair mats are powered by electricity, so they will need to be plugged into an outlet, but they eliminate the need to shovel snow or spread chemicals to de-ice the area, so it’s not a bad trade off. They plug into a standard 120V outlet, so you don’t need anything fancy to hook them up. The mats are supposed to be durable enough that you can leave them outside all winter.

Frontgate sells 3-mat sets for $250, and you can also buy additional mats one at a time. There’s a heated doormat too (hey, you want the complete collection, right?).

For housing information in your neighborhood feel free to contact bill.swanson@cbshome.com.

With the economy slowing and holidays just around the corner, many consumers may be looking to credit cards to help them get through the heavy shopping season. While that may be a good short-term solution, you want to make sure you don’t overlook the long-term impact on your credit rating. After all, the actions you take today could hang over your head for years to come–and may make it tough for you to get the home loan or car loan you want in the future.
To help you make sure you manage your credit cards–and your credit score–during the upcoming holiday spending season, follow these steps:
Double-check your card limits. Many credit card companies today have started lowering credit limits. That means you have less credit available, but it also may mean that your credit score is about to take a hit. That’s because approximately 30% of your credit score is based on the amount you owe in relation to your available credit. So, if a credit card company cuts back your limit, you may find that you’re suddenly almost maxed out. That’s not a good sign for your long-term credit score rating.
Ask, pay down, or move around. If some of your credit limits have changed or are nearly maxed out, you can take a few steps to help alleviate the problem. First, consider simply asking for a higher limit to your card…not necessarily to use up with spending, but to allow more unused credit line to be available and therefore boost your credit score. You can also pay more money to the cards that are near the credit limit, if you can. Or, if you have cards with little to no remaining credit line, transfer some of the larger balances onto the cards with lower balances. That’ll give you a more… well… balanced financial picture.
Leave home without it. One of the best tips for the holiday season is to: make a budget, identify specific items, and then leave home without your credit card. Instead, bring just enough cash to purchase the items on your list. That will help you resist the urge to impulse buy, and keep your credit card balances lower.
Pick a card… not just any card. If you can’t bring cash, make a credit card plan. Identify specific items that you’ll pay for on specific cards. By making a plan and spreading your purchases to different cards, you won’t overspend and you won’t risk running up one or two cards that are near the credit limit, which will hurt your credit rating.
Resist card offers at the counter. Retailers are famous for offering “savings” when you open a credit card. But those savings often don’t outweigh the long- and short-term negatives. For one thing, opening a new account–or multiple accounts in a short period of time–can negatively impact your credit score. In addition, consumers often spend more than planned when a new card is suddenly available. So this holiday season, resist the temptation.
Stay active. If you have older cards that you don’t use, make sure you keep them active. For one thing, some of those older cards help establish a longer history of positive credit. For another, the available credit on those older cards can help keep your credit score higher because it improves your overall debt-to-credit ratio. To keep those cards active, make sure you charge one or two items on them throughout the year… like, say, when you go shopping for the holidays. Then, pay them off when the bill comes in.
Always pay on time. Your payment record is a very large part of your credit score, so it’s crucial that you have an idea how your holiday shopping will impact your credit card bills and that you make a plan to pay those bills on time. If you have trouble for any reason, contact your card companies right away to work out a plan that helps you pay down your debt… and save your credit rating from a huge hit.

Want more information? Contact bill.swanson@cbshome.com today!

Murder at the Office this Weekend!

December 11, 2009 – December 12, 2009

The Florentine Players have a great show planned and it will be sure to surprise and entertain.  This Office “Party” is a totally interactive blast – it will just kill you … or at least someone!

• Location: Florence City Hall

• Address: 28th & State St
• Times: Doors open at 6pm; show starts at 7pm
• Admission: $10/at the door

Admission includes food & gifts for all.  Drinks are also available.

I look forward to seeing you there!

11. By selling now, you may have an opportunity to be a non-contingent buyer
during the spring, when many more houses are on the market for less money!

10. You can sell now for more money and we will provide for a delayed closing or
extended occupancy until early next year!

9. Even though your house will be on the market, you still have the option to restrict
showings during the six or seven days around the Holidays!

8. January is traditionally the month for employees to begin new jobs. Since
transferees cannot wait until spring to buy, you need to be on the market during
the Holidays to capture the market!

7. Some people must buy before the end of the year for tax reasons!

6. Buyers have more time to look for a home during the Holidays than they do
during a working week!

5. Buyers are more emotional during the Holidays, so they are more likely to
pay your price!

4. Houses show better when decorated for the Holidays!

3. Since the supply of listings will dramatically increase in January, there will be less
demand for your particular home! Less demand means less money for you!

2. Serious buyers have fewer houses to choose from during the Holidays and less
competition means more money for you!

And the number ONE reason why your Seller should list during the Holidays…

1. People who look for homes during the Holidays are more serious buyers!
Want more information regarding your home value and the selling process? Contact Bill.swanson@cbshome.com.

Tagged Under : Selling Houses

Top 5 Best Bang For The Buck Cities

1. Omaha-Council Bluffs, NE-IA Metro Area

2. Little Rock-North Little Rock-Conway, AR Metro Area

3. Jackson, MS Metro Area

4. Des Moines-West Des Moines, IA Metro Area

5. Augusta-Richmond County, GA-SC Metro Area

To find the cities that offer the most bang for the buck, Forbes looked at the country’s 100 largest Metropolitan Statistical Areas–geographic entities defined by the U.S. Office of Management and Budget, for use in collecting statistics– across these measures: foreclosures as a percentage of home prices; vacancies; unemployment rates; a three-year job-growth forecast; a three-year home-price forecast; housing affordability; median real estate taxes; and median travel time to work.

Omaha, was  No. 1 bang-for-the-buck city and was also rated the city best surviving the recession.  It joins a number of Great Plains metros near the top of our list. These include Wichita, Kan. (No. 6) and Tulsa, Okla. (No. 19). This swath of prairie in the center of the country was somewhat buffered from the disastrous effect on coastal markets of the housing crisis, enabling it to emerge solidly from the recession. Housing sales here kept a steady, if slow, pace during the boom.

Click here to see the full list on Forbes.

Would you like more information on your housing options in Omaha?  Email bill.swanson@cbshome.com today!

Tagged Under : active living, Buying Houses, Omaha Market Update, relocating to omaha

Australia has overtaken the United States, the heartland of the McMansion, to boast the world’s largest homes, according to a report by the Commonwealth Bank of Australia.

Research shows the Australian house has grown on average by 10 percent in the past decade to 2,310 sq ft — nearly three times the size of the average British house.

By contrast, the average size of new homes started in the United States in the September quarter was 2,169 sq ft, down from 2,282 sq ft, with the average U.S. home shrinking for the first time in a decade due to the recession.

In Europe, Denmark has the biggest homes, which takes into account houses and flats, with an average floor area of 1,475 square feet, followed by Greece at 1358 square feet, and the Netherlands at 1,238 square feet.

Homes in Britain are the smallest in Europe at 8 square meter. But according to data from the Australian Bureau of Statistic, while Australian houses are getting bigger, so are the families. More adult kids are staying home with the parents.

Want to know what the average size of the Omaha home is?  Email Bill today at bill.swanson@cbshome.com for this information as well as what size house you can get for your money.  Bill works with customers in all neighborhoods and price ranges in the Omaha Metro Area and would be happy to help you and your family find the right home for you!

Tagged Under : Buying Houses, Choosing an agent, relocating to omaha

Did you know that there is an entire website devoted to diners and diner
culture? Yes, apparently there is such a thing! The coolest
part of the page was a list of ‘diner slang.’

Diner slang was popular in diners, luncheonettes and lunchrooms from the 1920s until the 1970s. Although many of the
terms were created for fun and to lighten the stress of the restaurant environment, having distinct names for menu
items helped the short order.

You’ve probably heard some of this in old movies but now let’s see if you’d make a good Soup jockey.

Identify the following…

Paint it red
Java, Joe or a cup of mud
A blonde with sand
Shake one in the hay
Cackle fruit
Wreck ‘em
Adam & Eve on a raft
On the hoof
Bloodhound in the Hay
Whistleberries
Frog sticks
Paint a bow-wow red
Irish turkey
Zeppelins in a fog
Burn one
Pin a rose on it
Burn one; drag it through the garden and pin a rose on it.
*————— Answers – NO PEAKING —————*

Paint it red                             Put ketchup on an item
Java, Joe or a cup of mud       Coffee
A blonde with sand                Coffee with cream and sugar
Shake one in the hay               Strawberry milkshake
Cackle fruit                             Eggs
Wreck ‘em                               Scrambled eggs
Adam & Eve on a raft            Two poached eggs on toast
On the hoof                             Any kind of meat cooked rare
Bloodhound in the Hay          Hot dog and Sauerkraut
Whistleberries                         Baked beans
Frog sticks                               French fries
Paint a bow-wow red              Gimme a hot dog with ketchup
Irish turkey                              Corned beef and cabbage
Zeppelins in a fog                   Sausages and mashed potatoes
Burn one                                             Put a hamburger on the grill
Pin a rose on it                        Add onion to an order
Burn one; drag it through       Hamburger with lettuce, tomato
the garden and pin a rose        and onion
on it.

What Exactly is an APR?

Annual Percentage Rate (APR) is a way to compare the costs of a loan. Although it’s not perfect, it gives you a nice standard for comparing the percentage costs on different loans. This page covers the basics of APR, and how you can calculate it.

Why Use APR?

Loans can be confusing. Slick lenders can quote a lot of different numbers that mean different things. In an order to reduce confusion, the US Government passed the Truth in Lending Act. One of the provisions of this act is that lenders quote APR to potential borrowers.

What is APR?

APR allows you to evaluate the cost of the loan in terms of a percentage. If your loan has a 10% rate, you’ll pay $10 per $100 you borrow annually. All other things being equal, you simply want the loan with the lowest APR.

APR Limitations

Unfortunately, all other things are not equal. APR can include more than just the interest cost of a loan. On a mortgage, APR might include Private Mortgage Insurance, processing fees, and discount points. There are other fees and charges that may or may not be included in a given APR quote. Therefore, you need to look closely at each and every APR.

You can’t simply rely on an APR quote to evaluate a loan. You need to look at each and every charge and expense related to your prospective loan in order to judge whether or not you’re getting a good deal. In addition, look at the bigger picture – you need to know how long you’ll be using a loan to make the best decision. For example, one-time charges up front may drive up your actual cost on a loan – even though an APR calculation might assume those charges are spread out over a longer lifetime (and therefore the APR would look lower).

APR Example

APR seems really easy, but it’s amazing to watch the numbers (and your costs!) change with different scenarios.

Assume you will borrow $100,000, and the lender tells you you’ve got a 7% interest rate. You also have $1,000 in closing costs. The APR on a 30 year fixed rate mortgage would be 7.10%.

For more information about getting approved for a mortgage, taking advantage of the Homebuyers Tax Credit and finding the right home for your family email bill.swanson@cbshome.com.

Bill Swanson is an agent with over 20 years experience with CBSHome Real Estate.  CBSHOME, a subsidiary of HomeServices of America, a Berkshire Hathaway affiliate. For a no-obligation market analysis of your home, even a quick and easy online evaluation, along with other aspects of Bill’s marketing plan, call or email Bill today!

Tagged Under : financing a home, loans, Mortgage

Omaha’s Holiday Lights Festival kicks off with the illumination of over one million twinkling lights on Thanksgiving night. As the centerpiece attraction of the Holiday Lights Festival, over 40 blocks of lights paint an impressive picture in downtown Omaha. Thanks to the support of generous community sponsors, Omaha’s Holiday Lights Festival is more than just lights.

There are many affordable events that Omaha families have enjoyed since the Festival began in 2000. Tour downtown condos, bring the kids to the Family Festival, ice skate in the Old Market, enjoy live music, and view the New Year’s Eve Fireworks at the Gene Leahy Mall. Mark your calendars now to enjoy all of the sights and festivities that the Holiday Lights Festival has to offer November 26 – January 10!

Whether you’re an Omaha resident or a visitor from out of town, there’s plenty to see and do at Omaha’s Holiday Lights Festival.  For a full schedule of fun, family friendly events, visit www.holidaylightsfestival.org.

We’ll see you at Omaha’s Holiday Lights Festival!

Tagged Under : Omaha Events

In the pre-Thanksgiving rush, we have received an early weather report from our in-house weather reporters. This is one, you should be sure to email your Mom.

Turkeys will thaw in the morning, then warm in the oven to an afternoon high near 190F. The kitchen will turn hot and humid, and if you bother the cook, be ready for a severe
squall or cold shoulder.

During the late afternoon and evening, the cold front of a knife will slice through the turkey, causing an accumulation of one to two inches on plates. Mashed potatoes will drift across one side while cranberry sauce creates slippery spots on the other. Please pass the gravy.

A weight watch and indigestion warning have been issued for the entire area, with increased stuffiness around the beltway. During the evening, the turkey will diminish and taper off to leftovers, dropping to a low of 34F in the refrigerator.

Looking ahead to Friday and Saturday, high pressure to eat sandwiches will be established. Flurries of leftovers can be expected both days with a 50 percent chance of scattered soup late in the day. We expect a warming trend where soup develops. By early next week, eating pressure will be low as the only wish left will be the bone.

Want to test your knowledge of this great holiday?  Have your family and friends take this turkey trivia quiz and see how much you really know about Thanksgiving!  Go to:   http://home.aristotle.net/Thanksgiving/trivia.asp

HAPPY THANKSGIVING TO YOU AND YOUR FAMILY!

Omaha Wooded Retreat on TODAY Show!

If you watched the TODAY show last Friday morning you may have been surprised to see a home here in Omaha was chosen as one of just a handful of properties shown on the recurring segment by Barbara Corcoran, “What Can You Buy for Under $500k”? In case you missed it, click the previous link to view.

This awesome wooded retreat is one of my listings and I am pleased to announce that the home is now Pending! The soon-to-be owners are thrilled with the exposure and have sent the link across the country to all of their out of town friends and family to see their new home on National TV!

Marketing a home in today’s market is vastly different than when I first got into the business many years ago. Our marketing used to consist of ‘putting a sign in the yard and an ad in the paper’. Then just hope for the best! In today’s marketplace, it takes a lot more than that to properly market a home.

My marketing plan consists of attacking all possible avenues to expose your home (properly) to anyone and everyone who may be interested in it. The TODAY show segment was about six weeks of work but definitely worth it!

While I certainly can’t guarantee national TV exposure, I can tell you that we can no longer just ‘put a house on the market’ and expect results. Contact Bill Swanson today if you are thinking of making a move in the near future for a no-cost analysis of your home!  Or feel free to answer a few brief questions and get an online market analysis too!

Don’t forget the changes and enhancements to the tax credit! Repeat Homeowners may be able to qualify for a $6,500 tax credit instead of only qualifying first time homebuyers who are still eligible for up to an $8,000 tax credit.

Bill Swanson is an agent with over 20 years of experience with CBSHome Real Estate, an affiliate of Berkshire Hathaway.

Tagged Under : agents, Buying Houses, Community News, Listings, omaha, Real Estate, Real Estate Marketing