IPad....More than just for playing games;)

This Christmas I was fortunate enough to get an IPad as one of my gifts. I had heard all these great things about it and had wanted one so I was super psyched to get it. For all the reason's that I had to get it the biggest one is the one no one wants to admit when they get/buy something expensive, it's cool!

I read article after article about the usefulness for real estate agents when doing presentations and getting information on the go. I have enjoyed making use of my IPad for these reasons and have now found others as well.

It's extremely common for me to be in a hurry and not have been able to do the proper preparation when showing homes to clients (surprise, surprise!). So as I try and frantically gather information to print off but instead I was able to use the Internet on my IPad and saved information sheets, photos, get directions, etc. to use in a very short amount of time. I was able to get PDF's on my IPad, JPEG's and others using the DropBox app which syncs up to 2 GB of whatever from your computer to your IPad wirelessly for free! You can do more for a fee but lets face it, who wants to pay for anything!!!

I've enjoyed very much this new digital tool for me to use as a real estate practitioner and I know that there are so many uses for the same kind of people like me but in different professions as well.

Happy "App"ing!

Feeling like a Real Estate........ Mogul?

Greetings one and all!

Now that Christmas is over and the New Year is no longer new, I have struggled to get back in the mix of things. Real Estate in the Lincoln area has seen a temporary slow down mainly because of the constant snow that we seem to be getting. November and December were great months for the local real estate market however as Lincoln enjoyed a large boost in home sales. In my quest to continue riding that boost I have found myself wanting more......

I have always tried to think of different areas of real estate that I would like to take advantage of in this economic climate. Rentals? Land Development? New Construction? I see great potential in each different area but also potential for great loss as well. So I pose the question to you out there.......What do you think? What, if any of these areas, have you tried out? What was your experience? I have had some hands on experience in each of these but haven't really gone...."full steam ahead" with any either. SO......let me know what you think......what your rich Uncle thinks......

.........but could there be more?

Home buyers are constantly asking themselves this question. No matter what economic environment we are in, no matter what the house is like you are in, no matter what, the biggest obstacle for people to make one of the biggest purchases in their lives is that they might be missing out on something else. Today the problem for home buyers, especially first time home buyers is, "what if there is an even bigger home buyer stimulus next year"? As I have bought and sold homes for myself I have come to realize the basic principle that applies to so many aspects of life, the time is NOW!!!

There is no better illustration than that of Warren Buffet. In 2008, finance giants Lehman Brothers, Bear Sterns, Bank of America and many others fell harder than Shaquille O'Neal in the 2000's. People employed, associated and invested in these companies lost all and/or a majority of their income. So Buffet took that as a time to act and invested $10 billion dollars in one of the worst, Lehman Brothers. From that point on people began to doubt and question how truly "savvy" one of the world's richest men was/is. One year later he has received a $3 billion dollar return on his investment!!! Why? Because he ACTED!!!!

Don't be left on the sideline of homebuyers who keep wondering, "is the time right, is it,is it, is it...AHHHH!!!!" Don't overthink what you know to be a good idea. If you are in decent position to buy a home or even sell your current home, don't hesitate! NOW!!!

Free Money from the government! RUN!!! don't walk

Well things sure do change in a short amount of time. We have a new president with a new attitude which includes a nice boost to the housing market. One part of the Economic Stimulus package that is especially important is that of the $8000 tax credit to first time home buyers. This time when they say "credit" they absolutely mean it! The basics of it are that anybody who hasn't owned a home in the past 3 years, depending upon your state, that buys a home between January 1, 2009 and December 31, 2009 will receive a credit on their income taxes of 10% of the purchase price of the home or $8,000, whichever is less.

Originally the powers that be had agreed upon an up to $15,000 tax credit to all home buyers of 2009, except for investment properties. However, as soon as the House of Representatives got a hold of it they cut it way down. With this new incentive homes that are more ideal for first time home buyers have been "flying of the shelf", especially now that if you buy your home before Tax Day (April 15th) you can even receive your credit this year!!

So I am encouraged to say the least about the strides that are being made to help the housing market all across the country, even if the small minority of bureaucrats on capitol hill are more interested in making the other party fail than help the country that pays their salary.

So in short if you or someone else you know doesn't currently own a home and hasn't for that past 3 years or so......RUN!!!! don't walk to buy a new house, the government is paying you to do it!!

Free money from the Government... Not so fast!!

So I woke up this morning and it was almost October already!! It has been a while since you have heard from me last and there has been lots of things happening in the world and more specifically our naitonal economy.

Hopefully by now most of you have gotten your rebate checks in the mail and have all gone out and bought new IPods!.... or if you were like me you put in your bank account, even better! Apparently all the stimulus checks in the world couldn't save our nation's banks from going under. Now what about the $7500 the government is giving to homebuyers?

This is the main reason I wanted to make some short remarks today. A few months ago the federal government passed into law a plan that would supposedly reward home buyers for buying homes, AWESOME!! WAIT A SECOND...... whenever free money and government are mentioned in the same sentence make sure and get the details before you jump to any conclusions. The program in essence is a sort of loan program for first time home buyers. If you bought your first home between April 2008 and June 2009, then you are eligible to receive a $7500 credit on your next year's income tax return. But, if you make more than $95,000 as an individual or $170,000 with your spouse then won't qualify. Now lets say that you meet all of these requirements and you do claim the full $7500 credit. You will then notice that each year after that on your income tax return there will be a debit (charge) of about $50 until the $7500 is paid back.

So in conclusion, is the $7500 program good or bad? You be the judge. But its not as though you will get a check for $7500 upon the closing of your new home.

Buyers Market

Greetings one and all! Today I wish to advise you on the concept of a buyers market.

Probably the only good thing that you hear about housing in the USA is that it's a good market for buyers. I am afraid that on this occasion and this one occasion only I am going to agree with the national media. Homes right now are at an all time high when talking about supply of homes. There are many homes out their for sale right now which means sellers are much more motivated when it comes to selling their home. They are lowering the price of their homes, sometimes in large amounts. They are making huge upgrades to their homes, new top of the line appliances, new furnaces, new central a/c, new roofs, new carpet, new ceramic tile and the list goes on. It is a good time to buy coupled with low interest rates!

HOWEVER.....

Do not.... I repeat..... DO NOT.... go into a housing search expecting every seller to bend over backwards to sell their home to you. There is a very good chance that the home you fall in love with is one that the sellers aren't all that motivated, so be ready to still make some sacrifices and compromises.

Also, because you are moving from a place like Miami, FL to Iowa City, IA don't expect motivated sellers to negotiate $10's of thousands of dollars below the asking price. No matter what, real estate is still extremely localized and although Modesto, CA has experienced a decrease of 20% in home values, Boise, ID home values have increased by 5%.

So...... be on the look out for those great deals but if you don't find them, don't be shocked to the core! Happy Housing!

Appraised vs. Assessed

Many people as they begin to look at homes at think of their future in a home the question of value begins to creep into the equation. Of course, nobody wants to buy a home that is isn't worth what they are going to pay for it! But who determines how much a home is worth? The homeowner? The Realtor? The bank? The government? WHO???

In the USA long ago our founding fathers wanted to create a school system by which all would have the opportunity for education. The way by which this is accomplished is mainly by property taxes. Property taxes are individually calculated based on what the local county government determines the property to be worth called an "assessed value". This value will change when there are improvements to a property and periodically when the local government decides to "re-assess" properties located within their municipality.

Now we arrive to the difference between an appraised value and the assessed value of a property. The appraised value of a property is come to using various different mathematical and market based methods, which are weighed and used according to the knowledge of a licensed appraiser. An appraised value of a home is based upon several different factors including but not limited to: location, age, square footage, condition of home and comparable sales prices. As was just said, the assessed value is changed either periodically or when major improvements are made. However, your property's appraised value is constantly changing! The current housing market we are currently in is a prime example of this. Especially on the coast's of our country, homes that were purchased for $800K or $900K a matter of 2-5 years ago are now selling for much, much less, even $500K or $600K is some instances. However, there was no major improvement or "destruction" of the property done.

The reliability of an assessed value is very shaky as properties do not simply increase and/or decrease in value every few years. Also, what if a major improvement was in fact performed on a property without the local government knowing about? Does your property retain the same value as before the improvement? Keep in mind that as your local government (assessor) determines the "assessed value" of your home they usually do not enter the property to assess the interior condition of the home which plays a very large role in determining the real value.