This is a question I hear all the time.  Everybody wants the best deal they could possibly get.  Everybody wants the lowest interest rate, and the lowest price point on the home they want.  I understand completely, because I like good deals also.  There's nothing wrong with that.  The problem is you never know where the bottom is until it's too late.  By definition the bottom has been reached when things start rising again.  By the time we realize things are picking up, we've already missed the mark.Like I said, I am always looking for a good deal, but I also like to go for what I want.  I'm ok with getting a pretty good deal on something I can bring to fruition, rather then getting a smoking deal on something that I can't even get anyway.I educate my clients on this philosophy, because... 02/29/2008

Does this scenario sound familiar?Some clients I worked with recently on a purchase wanted to find their own home inspector.  I recommended they use somebody that has some credibility in our marketplace.  I even gave them a few names to check out.  Instead they went through the phonebook and found the cheapest guy in town.When it came time for the inspection walkthrough, it turns out I had met this particular inspector before, about 5 years ago.  I wasn't impressed back then, and I started to worry more than I already had been.  This guy had no professional appearance, a weak presentation and a paper-clipped inspection report.  You've got to be kidding me.  This guy hasn't learned a thing in the last 5 years.So we get the list of repairs, negotiate with the sellers, and come to an agree... 02/29/2008

There has been a lot of talk lately about virtual assistants.  A get a lot of feedback from people that don't understand why I would hire someone that lives out of state to do some of our day to day tasks.  The answer is simple:  The larger the pool of applicants is, there more likely it is to have higher quality of people available.  If I were to choose my new assistant from a pool of 10 people, I am less likely to find the right person then if I could choose from a pool of 1000 people.  Or 10,000 people.  My primary virtual assistant, Laura Monroe, works out of California, which is quite a ways from our market place in Omaha, NE.  She was recommended to us by a co-worker.  After reading her blog, and looking at other possible new hires, we decided to stick with her.  Since then we hav... 02/29/2008

The other day I heard that Jody Schott of CBSHome Real Estate died. Jody had been in the business a long time and was one of Omaha's top agents.  She was always friendly to work with and very professional. From what I heard she died of a brain embolism. She was just 41 years old. This is the second Realtor in Omaha to go before her time in the last few months (Tragic Shooting in Omaha takes Nine Lives including one Realtor). Trumm Team - Keller Williams, Omaha, NE Your Home Sold within 120 Days or I will Buy It! 02/28/2008

With 80% of buyer starting their home search on the Internet, it is one of the most important avenues to market homes. Point2Agent is one site that stands out above the others. It provides so much in terms of marketing that it is indispensable. Point2Agent provides Realtors with an easy to setup website. The reason it is so important to have a Point2Agent website is because of the power of its listing syndication. When you enter a listing on Point2Agent it automatically publishes the listing on dozens of major websites, such as Trulia, Zillow, and Yahoo. This is not only great marketing but a great way to leverage technology to save time. Entering a listing on each site individually would take many hours. Listing syndication allows an agent to enter it once and be done - or in my case a... 02/28/2008

In real estate it is not uncommon to counter offer back and forth verbally until an agreement between buyer and seller is reached. Often this is done to hasten the negotiations. A deal can come together hours or even days faster than if each agent has to meet with their client to get each counter offer in writing. Keep in mind that verbal counter offers are not binding. If both parties agree on the final terms, it is not a binding deal until the terms are put into writing and both parties sign it. Up to that point either party can change their mind without penalty. Trumm Team - Alliance Real Estate, Omaha, NE Your Home Sold within 120 Days or I will Buy It! 02/28/2008

Congratulations to Keller Williams of Greater Omaha and their phenomenal growth and expansion in the Omaha market.  Keller Williams has just announced a merger with Boyer Young making Keller Williams of Greater Omaha the 5th largest company in the Omaha market.  Keller Williams is a well known franchise in the world of real estate and they have just recently expanded into the Omaha market.  In the end, increased competition benefits both the agents and the consumer.  All of us at Alliance Real Estate would like to congratulate the folks at both Boyer Young and Keller Williams on their recent merger and their continued success.   Thanks, David Matney, CRS,GRIAlliance Real Estate 02/28/2008

I recently had the pleasure of attending the CRS Sellabration conference in Honolulu, HI.  Of course the venue was incredible; who wouldn't love spending a few days in Hawaii?  But aside from that, the classes were amazing.  The level of excitement was through the roof, and the camaraderie was genuine.  It was a nice change of pace to see everyone put their egos away and just work with people in good faith.  The only competition there was who could share the most powerful ideas.When I came back to Omaha, I was very excited to share and implement some of the new ideas I had come across.  The formula seemed simple enough:  These are proven methods of success that work for top producers around the world.  Who wouldn't jump all over that?  Apparently nobody.  It was like a slap in the face ... 02/25/2008

In Price Reductions we covered the importance of trying to price a home right from the beginning and how to know when a price reduction is needed. Now let's address why a price reduction will help a home sell and what to reduce the price to.Why will a price reduction help the home sell? The price is an invitation to buyers to see the house. At too high of a price your home will be competing against homes that are out of its league. While at the same time the buyers that should be looking at the house are not because the price is higher than what they are looking to pay. If there are similar homes on the market in the same area at a lower price, then why would buyers bother to look at yours?What should the price be reduced to? First a new market analysis needs to be done. Then the feedba... 02/24/2008

I have stressed before Importance of Pricing a Home Properly in Omaha and Dangers of Overpricing a Home. But what if you price the home as best as you can at the beginning but it doesn't sell? The solution: a price reduction.Every effort should be made to price a home right when it goes on the market. The price should be based on recent sales of similar properties in the area, current inventory for sale, and the seller's time frame for having the home sold. If after thirty or forty five days the home still has not sold and there is little interest in it, then what should be done. Simple, admit you were wrong and lower the price. I would rather admit I was wrong and tell the seller we need to lower the price, rather than insist that I am right and have the home not sell.When is a price r... 02/24/2008

Below is an invitation our next wine and cheese event at 80 Dodge Wednesday, the 27th from 5pm to 8pm. Join us for wine cheese and casual conversation as well as be one of the first to view the new renderings of our indoor pool, pool deck terrace and the new look of the Beverly Hills Plaza. 02/23/2008

If you read Real Estate Lockboxes, then you understand the importance of using an electronic lockbox as opposed to a combination lockbox. As I mentioned the in the previous blog electronic lockboxes are accessed using an eKey. If you are wondering exactly what a eKey is, this is the blog for you. First let me explain who can get an eKey. In order to obtain an eKey you must be a member or affiliate member of Omaha Area Board of Realtors. Realtors are members of the board. Affiliate members consist of home inspectors, termite inspectors, home warranty technicians - basically non-Realtors that are also in the real estate business in some way. The eKey itself is a small device with a numeric keypad and an infrared port. To use it the user points the eKey at a lockbox (in Omaha we use GE Sup... 02/22/2008

A Bill of Sale can be used to sell personal property, which is any property other than real estate and the improvements upon it. Generally personal property is just included in the purchase agreement for the real estate being purchased. The most common case for the use of a bill of sale is to include personal property in the sale without the buyer's lender seeing it. Since a bill of sale is a completely separate document it is not sent to the lender for the underwriting of the loan. If the lender were to see that personal property was being included they might think that the purchase price was inflated in order to pay for the added property. An example is the sale of a property I sold in Springfield, NE (just outside Omaha). The house sat on nearly two acres of land. Since the seller wa... 02/21/2008

Personal property can become a major issue in the sale of real estate. In the eyes of the law there are two types of property. Chattel, which is just a fancy word for any property other than real estate, and Real Property, which of course means real estate and the permanent improvements upon it (buildings, etc). Before selling a house it should be determined what personal property is going to be sold with the house. Things to consider are appliances, window coverings, swing sets, remote controls to the garage door openers, yard decorations, or any other item that you as a seller want to leave with the house. Just as importantly is to make clear what items are not staying with the house. For example you might have a portable kitchen island in the kitchen. When buyers see it they may not ... 02/21/2008

Today Deb Berry, Branch Manager at Paramount Mortgage Funding, was kind enough to meet with the agents at Alliance Real Estate to provide information on mortgage products and changes in the lending industry. Points of interest included FHA's new role in assisting buyers that would have needed a sub-prime mortgage. Of course the collapse of sub-prime lending has left a void and FHA has stepped in to fill it.  Also covered was the process of getting a buyer without a credit history approved for a loan by using various sources to document creditworthiness instead of using the standard desktop underwriting (DU) process. Legislation is being proposed in Nebraska to require licensing of mortgage lenders. Private Mortgage Insurance (PMI) rates and how those rates are affected by a borrower's c... 02/21/2008

In case you didn't know, in Nebraska we have termites and with termites come Termite Damage. Termites feed on wood and cause more property damage than any other natural cause.  Because of this, lenders will require a termite inspection on the purchase of a home in Omaha. The standard Omaha Area Board of Realtors purchase agreement states that if termites are found and if the cost of a termite treatment and repairing the termite damage exceeds 2% of the purchase price then either party can cancel the transaction (If either party should back out, then the earnest deposit is returned to the buyer). If the cost is less than 2% then the seller needs to have a termite treatment done on the property and make necessary repairs. A termite treatment would consist of treating the perimeter of the ... 02/20/2008

Omaha appraisal company, Mitchell & Associates has recently released two reports on the Omaha real estate market. The Midtown and West Omaha reports cover both the eastern and western sections of Douglas County. Whether you are buying, selling or just curious about the Omaha real estate climate you should access the full reports at: http://www.mitchellassociates.com/news/relnk/ 02/20/2008

An earnest deposit is an amount of money that a buyer puts into escrow as good faith to show that they will complete the purchase of a property. The amount of money is an indication of how serious they are and of their confidence in their ability to close the sale. If the buyer does not complete the sale then the earnest deposit goes to the seller, right? Not so fast. It depends. There are several reasons why a buyer may not complete a sale but would not forfeit their earnest money. First is a home inspection contingency. If the buyer is not satisfied with the results of the inspection or if the seller is unwilling to do the requested repairs, then the buyer would receive the earnest deposit back. Another reason for the deposit being returned to the buyer is that their financing fell th... 02/19/2008

In order for an agent to show a house to a buyer, the agent must have access to the property. The simplest solution is to have a lockbox on the front door with a key. There are two basic types of lockboxes.The first is the combination lockbox. In order to open it, one must have the combination. The first problem with these is that frequently when an agent schedules a showing, they are not told what the combination is. As a result when they get to the property they have no way of getting in. Another problem is that the code could easily fall into the wrong hands - maybe the buyer was watching over the agent's should as he opened it, maybe someone overheard the code being given over the phone, maybe an agent wrote the code down on a piece of paper with the address and lost the paper. Yet ... 02/18/2008

 The biggest complaint I hear in real estate today is that clients never hear from their agents.  I believe this is just one of many consequenses resulting from a deeper issue:  There is a lack of professionalism in our industry.  In my opinion, too many companies are lax on this issue.  As real estate agents we have a fiduciary responsibility to our clients.  Along with well known items like not putting your interests in front of your clients and not revealing confidential information, there are other lesser known responsibilities that are just as important.Some of these include disclosing material defects (including financial ability) and maintaining contact with your clients.  One of the biggest points I make about this when training my agents is to put it all out on the table.  Too ... 02/18/2008