The Omaha Area Board of Realtors is sponsoring a seminar to explain how the recent financial bailout is going to affect real estate financing... or should I say how the bailout is suppose to affect real estate financing. I have my doubts that government intervention in free markets can produce a positive result. It is scheduled for Monday, December 1st. I plan on attending and I will be sure to post a summary. Troy Trumm, Trumm Team - Omaha, NE Omaha Homes For Sale Omaha Real Estate 11/18/2008

As we saw in Average Sales Price of Omaha Homes the average sale price of Omaha homes is declining. This is a result of having more homes for sale than there are buyers in the market; basically we are in a buyer's market. Another result of the buyer's market is that fewer homes for sale in Omaha are actually selling. Here are the percent of homes that were for sale in Omaha that actually sold over the last ten years.   Currently just 43% of Omaha homes for sale are selling. If we look back to 2005, when home values in Omaha peaked, we see that 64% of homes sold.   It's not hard to see that the Omaha market has changed rapidly over the last three years. Troy Trumm, Trumm Team - Omaha, NE Omaha Homes For Sale Omaha Real Estate   Information was gathered from the Omaha Area Board of Realtors. 11/17/2008

The Omaha Area Board of Realtors' MLS only allows for 500 characters in the public remarks and this includes spaces. As a result you often find agents creating abbreviations in order to fit within this limit. What is really perplexing to me is that many agents use obscure abbreviations when they are only using a fraction of the 500 characters allowed. Here are some of the common abbreviations that most people can figure out: mbr - master bedroom mba - master bath wo bsmt - walkout basement Here are some that people outside of real estate might have trouble with: ama - all measurements approximate reo - real estate owned. Meaning that the property is owned by a bank, likely as a result of foreclosure. nsf - non-standard form. Meaning that this could be an estate sale, a short sale, or an... 11/17/2008

Attention Omaha Agents, Come join the fun next Tuesday, November 18th, from 11:00 to 1:00 for an agent tour of homes in Somerset. There will be food and three chances to win $25 gas cards. The homes on the tour include: 8345 Hanover St. represented by Anne Houllihan - Century 21 8339 Wyoming St. represented by Gena Schriver - NP Dodge 8402 Hanover St. represented by Troy Trumm - Alliance Real Estate Directions: From 90th & Fort head North, 90th turns in to Sorenson Pkwy, Turn left on Wenninghoff Rd, Turn right on Read St. into Somerset subdivision, Left on 85th St. Wyoming St. is two blocks ahead on the left and Hanover St.  is two blocks further also on the left. I hope to see you there.   11/16/2008

 Below is a summary of the Omaha new construction and existing residential real estate market. New Residential Construction Closed: Oct 08 Oct 07  Oct 08 YTD Oct 07 YTD Total New Construction Sales 65 121 886 1302 Avg. List $ $320,728 $281,694 $285,452 $268,106 Avg. Sold $ $317,917 $284,330 $285,425 $269,921 Existing Residential Properties Closed: Oct 08 Oct 07  Oct 08 YTD Oct 07 YTD Total Existing Construction Sales 633 673 6991 7859 Avg. List $ $160,205 $162,362 $159,877 $161,264 Avg. Sold $ $153,679 $156,165 $154,152 $156,368   Troy Trumm - Trumm Team Omaha Homes For Sale Omaha Real Estate 11/16/2008

Below is a summary of the Omaha residential real estate market. Residential Properties Only: Oct 08 Oct 07  Oct 08 YTD Oct 07 YTD Total Number of Residential Listings Listed 1,339 1,793 17,762 19,912 Total Active Residential Listings 5,560 6,256 N/A N/A Avg. List $ of Residential Listings Listed $217,385 $257,005 $216,953 $234,393  Total Residential Listings Closed 698 794 7877 9329  Avg. List $ of Residential Listings Closed $175,153 $180,547 $174,002 $176,248  Avg. Sold $ of Residential Listings Closed $168,973 $175,697 $168,917 $172,277    Troy Trumm - Trumm Team Omaha Homes For Sale Omaha Real Estate 11/16/2008

Everyone knows by now that we are in a buyers market which means that there are fewer buyers than sellers. As a result of this prices are pushed lower. It's simple supply and demand. So how much have prices dropped? A picture is worth a thousand words so let's take a look at the average sale price of Omaha homes over the last ten years. Average home values in Omaha peaked in 2005 at $177,526 and have dropped steadily since. As of October, 2008 the average sales price is down to $169,051. A drop of 4.77%. Nationally the last time home values peaked was in 1988. After that peak it wasn't until the year 2000 that home values recovered to where they were in 1988. If history is any indication, we may have to wait until 2017 for home values to return to where they were in 2005. Information wa... 11/15/2008

Tracie Weaver | Prudential Ambassador Real Estate | 402-812-2626 1220 PIERCE ST, Omaha, NE Wow! Contemporary style home just blocks from the Old Market! The look and feel of a Downtown Condo without the price and association fees. Profess 2BR/2BA Single Family House offered at $189,900 Year Built 1988 Sq Footage 1,800 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 2 Parking 1 Car garage Lot Size Unspecified HOA/Maint $0 per month see additional photos below PROPERTY FEATURES Central A/C Fireplace High/Vaulted ceiling Hardwood floor Tile floor Family room Living room Dining room Dishwasher Refrigerator Stove/Oven Microwave Stainless steel appliances Attic Basement Washer Dryer Laundry area - inside Balcony, Deck, or Patio Yard Jacuzzi/Whirlpool COMMUNITY FEATURES Garage parking Storage s... 11/12/2008

Omaha Real Estate Market Update Thank you for checking out my September Real Estate market report for Omaha NE including Downtown Omaha Condos, Midtown - Dundee, UNMC, North Omaha - Benson, Northwest Omaha, West Omaha Homes, Elkhorn, Ralston and Millard homes that are for sale on the Omaha MLS. . Active Listings, as of November 6, 2008 and Sold Data from October 1, 2008 to October 31, 2008.  Months supply is the number of active listings divided by the number of sold listings for the month. Douglas County had 446 attached and detached homes sold in October 2008 compared with 510 in 2007, which is down 13%. As of November 6, 2008, there were 3,613 active homes for sale, which is 8.1 months supply of homes.  Active as of November 6, 2008, Solds 10-1-08 to 10-31-08Douglas CountyActive list... 11/07/2008

September Market MLS Stats for Omaha Nebraska September Market MLS Stats for Omaha Nebraska   Sept 08 Sept 07 Oct 08 Oct 07 YTD Total # of Listings Listed 19,377 20,700 21,083 22,744 YTD Total # of Listings Closed 7,421 8,966 8,242 9,807           Residential Properties         Total Active Residential Listings 5,794 6,278 5,560 6,256 Avg List $ of Residential Listings Listed $176,431 $184,659 $217,385 $257,005 Avg DOM of Residential Listings Listed 18 104 19 111 Total Residential Listings Closed 679 789 698 794           CLOSED RESIDENTIAL         Avg List $ of Listings $174,536 $171,755 $175,153 $180,547 Avg Sold $ of Listings $168,940 $167,155 $168,973 $175,697 Avg DOM of Listings 73 62 68 64 Avg Sold $ to Avg List $ of Listings 97% 97% 96% 97% 11/05/2008

Once you have accepted an offer on your house it is time to start planning your move. Some points to remember:  The house needs to be vacant, empty, and clean prior to closing. Be sure to leave the keys, garage door openers, garage keypad code, and security system code, if applicable. Utilities will need to be left on until the end of the closing date. You will need to keep your homeowner's insurance in place until the closing is complete. Forward your mail to your new address. You can do this at the post office or at www.usps.com.   Trumm Team - Omaha, NE Omaha Real Estate & Omaha Homes for Sale 11/04/2008

Today I received an email from a buyer who previously lived in Omaha. She is planning on moving back and buying a house. Her dilemma was that she was trying to locate the agent that had helped her sell her last home in Omaha. While she wasn't able to find her agent by doing a Google search, she did find a blog of mine in which I congratulated this agent for winning a giveaway of mine. This buyer wanted to know if I knew how to get in touch with her long lost agent. Being the nice guy I am I helped reconnect the two. I could have tried something underhanded in order to win over this lady's business but that is not how I operate. If I am going to win someone's business it is going to be through hard work and outstanding service. Both the agent and her newly-found old client were grateful ... 11/03/2008

Lisa Czerwinski at NP Dodge real estate won a $20 gift certificate to Chili's just for being kind enough to send me feedback after showing 18653 Borman St.( 18653 Borman St in the Coyote Run subdivision of Omaha). In my feedback requests I ask agents to include a guess at the final sales price and whoever guesses closest wins. Lisa, thank you for the feedback and enjoy lunch on me.   Trumm Team - Alliance Real Estate, Omaha, NE Omaha Homes for Sale 11/03/2008

How would you like to be notified of available Omaha Homes for sale BEFORE they come on the market?  Would you also like to find out about new properties when they come on the market?    When you're ready to search for your Omaha home for sale and are looking for a GOOD DEAL, give me a call.  We make looking for an Omaha home for sale smooth, simple and enjoyable. Are you receiving our FORECLOSURE & Short Sale lists?  Let us help you save THOUSANDS on your next home purchase.   Connie WattsThe Burkle TeamPrudential AmbassadorReal Estate402-880-9027cjwatts@cox.netwww.Omaha-NE-Property.com   Featured Listings     Search the Omaha MLS     What's Your Home Worth?     Listing AlertsChecklist for Buying Foreclosures   Tax Consequences of Flipping Real EstateOnline Seller Advantage     5 Thing... 11/01/2008

"Why hasn't my home sold?" a question many agents are asked by their seller clients. Often followed up with "Let's make an extra effort to get it sold." or "What else do you think we should be doing." Or my favorite "Maybe we need an open house."  Sellers, the reason your home hasn't sold is staring back at you from the mirror. YOU are the reason it isn't selling. You decide how long your home will be on the market based on the price you select. Price it right and it will sell. Priced slightly too high, it will take longer. Priced much too high and it won't sell at all. It's that simple. The next time you are going to ask your agent "Why hasn't my home sold?" follow it up with "Do you think we need to lower the price?" Trumm Team - Alliance Real Estate, Omaha, NE Omaha Real Estate & Oma... 11/01/2008

It's the first of November which means that October is history. So let's look at the historical data that October gave us on Omaha homes sales and the number of Omaha homes for sale. Here is the data. Total Number For Sale 5875 Total Number of Accepted Offers 485 Total Number of Closed Sales 817     % of sellers that accepted an offer 8.26% Absorption rate in months 12.11     The number of Omaha homes for sale dropped by 203 from the first of September to the first of October.  The number of sales of Omaha homes also dropped, but by only 45. There is a 12.11 month supply of homes for sale. Quite an increase from last month's numbers when there was an 8.6 month supply of homes in Omaha. Check out last month's numbers at * These numbers encompass all residential listings in the Omaha Area... 11/01/2008

Many of the readers of my blog have said that it is sometimes tough to keep up with everything I post. So in an effort to make sure that no one misses anything, at the end of each month I will do a review of the blog posts for the month. Of the blog articles I posted here are the ones that I feel are most significant to my Omaha subscribers. Is your Agent going to Answer your Call?: The number one complaint about real estate agents is poor communication. Closing Delays: Know what can cause a delay in the closing on your home. How do Realtors Sell Their own Properties?: This details what I did to sell a house I was flipping here in Omaha. What does a point taste like?: A light-hearted look at my Active Rain point addiction.   If you are looking for homes for sale in Omaha, check out the ... 10/31/2008

Fill out my Wufoo form! 10/29/2008

In my blog Is your Agent going to Answer your Call? I exposed a few of the habits that some agents use to avoid your phone calls. Now let's talk about your calls. Is there a reason that Realtors would want to avoid your call? Here are a few ground rules about calling your Realtor. First don't assume that your agent is sitting by the phone 24 hours a day waiting for your call. Unless it is an emergency - and I have a hard time thinking of a real estate emergency - try to make your calls during normal business hours. Chances are your agent has a family, a life, and interests outside of real estate. If what you are going to call about is not important consider sending an email. Next keep the frequency of your calls reasonable. It is not necessary to call your agent everyday to check on the... 10/29/2008

  The EPA is proposing spending an additional $255 million to clean up approximately 10,000 yards in the next ten years.  The boundaries for the lead cleanup are being considered for expansions, too.  If the new boundaries are approved, they would not be expanded further. Public comments are scheduled for November 18th.     For more information      Connie WattsThe Burkle TeamPrudential AmbassadorReal Estate402-880-9027cjwatts@cox.netwww.Omaha-NE-Property.com     Featured Listings     Search the Omaha MLS     What's Your Home Worth?     Listing AlertsChecklist for Buying Foreclosures   Tax Consequences of Flipping Real EstateOnline Seller Advantage     5 Things YOU Need to Know Before Buying Your 1st Home 10/28/2008