an ongoing conversation place for everything real estate

Now would be a fantastic time to take full advantage of shopping for your first home. The Goverment deadline for qualifying for your Federal Housing Tax Credit requires you to be under an accepted purchase agreement by April 30, 2010 and closed by June 30, 2010. FIRST TIME HOME BUYERS receive up to $8,000 in tax credit. These funds can be used for home inmprovements, repairs, paying off credit card debt, or just to save for an emergency cushion. Some stipulations apply, so please feel free to call me, Georgie Vint, and we can discuss the credit.

The Federal Housing Tax Credit has also been extended into a credit for EXISTING HOME OWNERS as well. If you have owned a home for 5 years and are ready to move into a larger home, or even downsize into a smaller one. This new $6,500 credit applies to you! Please call me, Georgie Vint, for details. This is an outstanding opportunity. But you need to act fast, time is running out on this Federally funded credit offer!

NOW IS THE TIME TO BUY A HOME! With the tax credits in place, home prices are outstanding and interest rates are still at an all time low! With these kind of incentives, your buying power is drastically increased! You won’t want to miss this opportunity to buy a home, at a great price, for a great interest rate and receive government money back! CALL GEORGIE VINT TODAY TO MAKE SURE YOU MAKE THE MOST OF YOUR MONEY, THE TIMING AND THE GOVERNMENT CREDITS! We are here to help you make smart choices and happy home purchases. It’s our business to help you.

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

Hey, Bill Black here! Whether you’re a home buyer or seller, safety should be one of your primary concerns when it comes to putting a property on the market or visiting such a property. Let me explain…

Let’s assume you’re a home seller and, of course, are going to have prospective buyers come to your property.

You want to make sure they have a pleasant and safe experience.

In the winter, that means you need to clear the ice and snow off the sidewalks and the driveway to prevent accidents. The last thing you need is an unhappy buyer with a broken arm or leg! You not only lose a possible sale but may end up with a lawsuit as well.

At any time of the year, make sure your property is well-lit, not only for the safety of potential buyers but for you and your family as well. That way, any hidden trip items (steps, toys, rakes, etc.) are removed. Plus, of course, burglars hate light!

Open houses can also be a safety issue, and that’s why I don’t do them for my sellers.

There’s always the potential for complete strangers to come tramping in and case your property so they can come back later for drugs, jewelry, firearms, or money. Why take the chance?

And, speaking of firearms, please put any unlocked weapons in a safety deposit box when you’re expecting an appointment with potential buyers! If they bring children with them, then you’re asking for disastrous trouble. Kids are naturally curious, and they’ll get into things you never expect them to.

The same goes for pets! Needless to say, any animal bite can be extremely serious and may leave you open to law suits if Fido bites the stranger in your house! Heck, I once had buyers in a house and discovered the owners had…snakes!

I’d recommend that you remove any potentially dangerous pet from the home while buyers are visiting.

Believe me, reptiles are not a good way to sell your home!

Now, if you’re a buyer, you can protect your safety and that of your family by asking ahead of time if there are any pets, firearms, etc. in the property you’re going to visit.

Lastly, I’d like to mention an issue that concerns everyone’s safety in a general sense – drinking and driving.

Now, I know that you’d never do this, particularly when it comes to buying or selling a home.However, last year, I had the awful experience of going to the funeral of a friend whose daughter had been killed by a drunk driver. No one should have the agonizing experience of burying their child.

So, I’d like to invite you to watch this video (Warning – graphic content and may not be suitable for children!).  This video has a powerful message on drinking and driving. And then, I’d like you to send that message to everyone you know and ask them to pass it on. One child’s death from a drunk driver is one too many!

Hey, I welcome your calls about any safety issues when it comes to buying or selling a home – or on any other real estate matter! Call me today at (402) 680-2500 or contact me right now at bill.black@cbshome.com.

Welcome to the newly redesigned Listing Detail Page on CBSHOME.com!

Here are just a few of the great new features available today:

• Overall a better design that creates a better user experience!
• You can view more photos per listing with five thumbnail photos displaying and quick links to virtual tours and guided tours.
• Easily Request Information, Schedule a Showing, Save that Property or View Your Saved Properties on each listing!
• Share a Property on Facebook or Twitter!

Plus, CBSHOME.com added new features to each listing!

• Each listing features a map that can be changed to an aerial view, bird’s eye view or road view.
• View Neighborhood Information, Mortgage Information and a full Map.
• Our newest feature is “Walk Score” which is a new widget that displays the nearest stores, coffee shops, etc to the property you are viewing!

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!

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.

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

THIS MIGHT BE THE VERY BEST TIME TO BUY OR SELL REAL ESTATE PROPERTY IN HISTORY!!

Why?

Significant government stimulus practices will be running out soon and could negatively affect interest rates, so time is quickly running out to get into the game!

By now you have heard the $8000 First Time Home Buyer and the $6500 Existing Home Owner Tax Credit incentives are scheduled to expire April 30, 2010. It is unlikely they will be extended again. Interest rates remain at record lows right now.

However, you may not have heard the Fed is concluding its program of purchasing mortgage-backed securities by the end of March, 2010. This less advertised “stimulus program” has effectively kept mortgage interest rates at record lows. But chances are, when this government stimulus program stops, interest rates could and probably will increase.  It is unclear right now how fast or how much rates will increase.

So if you are in the market for a new home, or want to move up, down, or out. . . give your friendly real estate agent a call. . . .  DON’T WAIT ANY LONGER. . .DO IT NOW!

Many short sale and foreclosure clients believe that their ordeal is over after the sale, until the day they get the letter or phone call asking for the debt to be repaid. Sometimes a deficiency judgment will surface against a borrower whose sale did not produce sufficient funds to pay the mortgage in full. For instance, after a deed of trust sale in Nebraska a creditor has a certain period of time to file a lawsuit for a deficiency.  In a foreclosure, judgment against a debtor may be only partially satisfied by the sale. With a short sale, some lenders may sell the remaining value on promissory note or promise to pay (which was secured by the mortgage) to investors who then attempt to collect the remaining money owed. If you are in a short sale situation, make sure that the short sale approval documentation addresses any deficiency debt (how much or whether it is forgiven) and that you understand whether you may be held liable for any remaining debt above the sale proceeds.  Make sure you seek competent legal and tax advice so you fully understand the issues and dangers involved.

Buying a Foreclosure House

In adversity there is opportunity. As some borrowers find themselves overextended, hit by bad luck, or out of work, they are walking away from their homes and leaving their lender to deal with the property. A careful buyer can profit from these bank owned assets. Thanks to an abundance of these properties, and information sharing, these properties can be easy to find.

REO (Real Estate Owned) is the term used to describe a property that is owned by a lender. Typically, a homeowner in default loses his property in a foreclosure sale, where the lender (bank) will bid the amount of the loan at a public auction. The bank takes legal possession of the property, and prepares to sell it. In our area, there are REO houses in every price range and every condition- from “tear down” to brand new.

Before a foreclosure is placed on the market, several things will happen. In most cases, the lender will work with a Real Estate Broker that handles the REOs in a particular market. That Broker is contacted, and instructed to prepare the property for sale. The Broker’s preparation includes:

• Check for occupancy. It’s not unusual to find someone living in the foreclosed house. Though the bank has ownership, it may require an eviction to convince the occupant to move. Rental properties are subject to tenant rights, and the tenant may have a valid lease.
• Trashout and cleaning. The property will need to be cleared of personal property and trash.
• BPO- Broker Price Opinion. The listing agent and one or more other agents give an opinion of the market value of the property, including scenarios for improvement and varying market times.
• Utilities, lock changes, liens, title issues, neighborhood association dues, all have to be dealt with before the property is listed.

After this preparation is done, the property is listed for sale.

Most asked questions:

Q: If I make an offer on a property, how soon will I have an answer?

A: It depends. Some banks will respond the next business day, and there is little chance you’ll get a response on a weekend. Plan on at least 7 days before you’ll know if the offer is accepted.

Q: Can I get a better price on foreclosed property?

A: Maybe. If a property needs repairs, and is to be sold “as is”, a discounted price may take into account the unknown conditions and cost of repairs. Your agent should be able to provide you with comparable sales information. The lender has no interest in keeping the property, and the price should be reduced periodically until it is sold.

Q: How long does it take to close?

A: Bank owned properties are not much different when it comes to closing. Once the offer is accepted, expect about 6 weeks to close, if there is “clear title”.

Q: Can I have an inspection done?

A: Yes. A purchase agreement should include a contingency for satisfactory inspection.

Q: Is there a warranty?

A: Maybe. Some sellers provide a warranty, if you just ask for it. A homeowner’s warranty can be written into the purchase agreement.

Q: Are there special purchase agreements for foreclosure properties?

A: Sometimes. Ask your agent for a preview of the “standard counter offer”, or the lender’s version of the purchase offer before submitting your offer. If title insurance is provided by the seller, ask to preview this also. You will be required to provide loan prequalification or proof of funds before an offer may be accepted.

More questions? Call your agent, or call Lloyd Freyer at (402) 677-0017.

Here we are in February already! Where did January go?  Many buyers out there that qualify for the extended and new existing home buyer tax credit are probably thinking they have plenty of time to shop for and purchase a home before the deadline hits.  But home buying is a process that involves a lot more than just picking out a home.  On average it takes a buyer 4.1 months to be in the “active buying” stage of purchasing a home. That means going on showings with an agent and writing a purchase contract. Buyers spend an average of 16.7 months just getting to that active buying stage!! That includes shopping online, discovering their buying power (how much can I afford?) in today’s market and selecting an agent! Considering we have just 84 days until the required deadline for for having a home under contract to receive the tax credit, I would say it is time to start shopping!!! The CBSHOME.com website is a great place to start!

Refer to previous posts for steps 1-4

The fixer house- making the offer. Where is the money made in real estate? In the renovation, in the marketing, in the sale of the property? These things are all important, these things are all a little beyond your control, the one thing you can control is the purchase price. When you are making an offer- and other agents may not want to hear this- you might have to stir things up a bit. If you have the time, and there are not competing offers, don’t be afraid to hold out for a few hundred dollars. You know what the property is worth, you know what your profit will be, you can calculate what a few extra hours of negotiation will bring. A $500 price reduction for 5 hours of work is pretty good pay for most of us. This is real money in your pocket when it’s time to sell.

One strategy is to ask for a dozen things from the seller. Only one of these things may be important to you. The seller will reject the offer, but seeds of doubt are planted. You then make a similar offer without those contingencies, but leave in the important item, such as the price or closing date. You have “softened up” the seller, and they may be more willing to look at the offer.

Once you have an agreed on price, don’t beat on the deal, you’ll want the seller and the agents working with you.  If your purchase is contingent on inspections, be clear about what will make or break the deal. A purchase agreement should allow for a buyer to back out in case of “substantial defects”. Define your “substantial defect”- is it a safety issue that makes a house uninhabitable, or an issue that will cost more than, say, $500 to repair. The seller may be unaware of a substantial defect such as a chimney obstruction, and may be willing to repair it.

Did you know that members of the military and certain other federal employees have additional tax credit benefits?

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principle residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after December 31, 2008, and ending before May 1, 2010.

 In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer’s principal residence after December 31, 2008, in connection with government orders received by the individual (or the individual’s spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer’s principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.

Congress made it clear that this is the LAST home buyer stimulus. We believe this to be true by all indicators. Don’t miss out on the opportunity provided by this tax credit and today’s low interest rates.

Visit our website or talk to your CBSHOME Sales Associate today to learn more!

Visit IRS.gov for additional details regarding military benefits for the current tax credit and additional tax information for members of the U.S. Armed Forces.

CBSHOME Real Estate has partnered with David Knox, a top sales trainer and keynote real estate speaker, to bring you more information regarding the Extended Home Buyer Tax Credit(s) that are currently available.

Please enjoy this video and contact a CBSHOME Real Estate sales associate to begin your home search today!

Don’t Let Opportunities Slip By…

If your current home no longer suits your lifestyle, there are two reasons why this may be a great time to make a move.

As Obama’s Administration tries to grasp the economic and housing problems, there is a new player in the game of short sales.  The US Treasury is acting like a referee in a game where the offense (sellers) and the defense (lenders) are not even on the same playing field.  The Treasury announced new guidelines for short sales on November 30th in an attempt to simply the process and improve closing conversions.  A few key factors in the guidelines are:

1)  Mortgage servicers have 10 days to approve or disapprove a short sales request

2)  When the short sale is finalized, the mortgage provider must fully release the borrower from the debt

3) It prohibits mortgage servicing companies from reducing real estate commissions

4)  It caps the aggregate proceeds to subordinate lien holders to $3,000

You can read more about the guidance, but please note it is not a law, in the Reuters article, Treasury Sets Guidance to simplify “short sales.” 

Will this guidance help streamline the process or continue to mask the solution for homeowners who wish to sell their homes and avoid foreclosure?    As noted in the article, “Second lien holders may proceed with a short sale outside of the Treasury program.”  The dismal success of the Home Affordable Modification Program may be a precursor for this guidance and leave us asking, “where is the real solution?” 

What are your thoughts?  What can we do to tackle this growing problem?

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!

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!

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.

A short sale is simply a method for a distressed homeowner to sell their home, avoid foreclosure and thereby potentially limit their credit score damage. If you are a homeowner facing the possibility of foreclosure then you should look into a short sale listing to avoid it. If you decide on a short sale it is important that the individual “quarterbacking” the process for you is knowledgeable in all aspects of this highly specialized field.

As a seller, in order to qualify to sell your home “short” you must meet the following three criteria.

1. You must be behind on your mortgage payments.

2. You must owe the bank(s) more than your home is worth (based on fair market value).

3. You must be experiencing some sort of verifiable hardship. Examples could be job loss, divorce, medical hardship, death in the family etc.

From the lender’s perspective, they are agreeing to allow a pre-determined sale price that is less than the actual amount owed to be considered as payment in full of the mortgage(s). This has the valuable benefit of preventing a foreclosure and is a much better situation for the seller relative to their future credit-score rating.

From a buyer’s perspective (someone who is considering making an offer on a short sale property), an in-depth understanding of the process is critical both in determining if a short sale property is the right one for you and, if so, how to structure an offer that it has the best chance of being approved by the LENDER. It is possible to get a good deal on a property listed as a short sale but your agent must have the special knowledge necessary to navigate this relatively complicated process.

As the only real estate agent in Nebraska with a CDRS (Certified Default Resolution Specialist) designation, I have the special tools necessary to give sellers the best chance of a successful short sale and to give buyers the best chance of actually closing a short sale transaction. For a FREE consultation please give me a call at 402-964-4937 or send me an email at jim.dobey@CBSHome.com