Omaha Real Estate Video Blog with Adam Briley

Financial Planning to Help Pay off Your Mortgage

The Omaha area has an excellent variety of homes within a vibrant market of both buyers and sellers. If you're considering purchasing property in Omaha, GO HERE to perform a Full Home Search, or if you're thinking about selling your property, CLICK HERE for a Free Home Value Report. For any other questions you have regarding current market trends or your own home's value, please don't hesitate to call me at (402) 614-6922, or email me at adam@brileyhomes.com.

Today, I wanted to talk to you about when to aggressively start paying off your mortgage. There are a few things you'll need to take care of first:

Pay off all your cards with high interest rates. Your mortgage interest rate is probably substantially lower than your credit card interest rate, so this is an important step.
Build up an emergency fund. There are a few different rules of thumb for the emergency fund, but generally, you'll want six months in reserve.
Build up for retirement. It's never too soon to start planning for retirement. We are a great resource for you if you need a financial advisor.
Start a college fund. Whether you have kids already, or if you plan on having kids, this is a big one. College is expensive, so you'll want to put some money away for that.
Put money away for long-term health care. Again, planning ahead for this is extremely important.

Once these five things have been taken care of, you can take a look at your mortgage and make a plan for paying it down.

If you have any questions on today's video, give me a call or send me an email. I look forward to hearing from you!

What Should You Avoid When Buying a New Construction Property?

Many buyers are unsure of what they're getting themselves into when buying a new construction home. Today, I share some of the most common mistakes new construction buyers make so you can take the steps to avoid them.

One of the biggest mistakes that can be made when looking at new construction properties is failing to hire an agent to represent you. An agent who works for you will do the necessary research and talk you through the process. They'll help you figure out what kind of home you want and what builder you want to use.

An agent is also going to help you read the fine print in the new construction process. You'll have a better understanding of the warranties included and whether the building is going to be there for you if something goes wrong. They will also ensure that the quality of the home is up to snuff. There may be certain problems that aren't clear on the surface, and an agent will be able to help with that.

An agent will also help you to get a list of references who have worked with the builder in the past. Giving some of them a call and asking them some questions will give you a good idea of what to expect from a builder. Most builders have no problem giving you past references and success stories. This is a great way to set expectations and find the builder who is right for you!

If you have questions about this or any other real estate topic, please don't hesitate to reach out to me. I'm always available to help!

Winning Strategies for Omaha Bidding Wars

Although we're not seeing as many multiple offer situations as we were a couple months ago, they are still fairly common. So today, I want to discuss how to make your offer more attractive.

First of all, always make sure you have your pre-approval letter. We have great contacts with loan officers, and we can certainly get you in touch with them.

Cash is always king, but if you can't pay cash, a conventional offer is the second most desirable in the seller's eyes, especially when you're putting 20% down.

A lot of buyers want to start with a low offer and negotiate their way up, but you really can't do that in a bidding war. Skip the lowball offers, and put your best foot forward.

Finally, keep contingencies to a minimum. Some things, like home inspections, are common, and you can keep that sort of contingency. However, if you're in a bidding war, consider skipping the radon inspection. That's something you can do later on your own time, and it will make your offer look cleaner.

If you have any questions, give me a call or send me an email. Each multiple offer situation is different, and we'd be happy to find the strategy that works best for you.

How to Organize Your Home Before a Showing

I recently found a good video on HGTV that I thought would be helpful to you if you're preparing to sell your home. It's essential that when you show your home to buyers, it's clean, organized, and decluttered. You'll want to empty out your closets, or at the very least, get them organized.

One thing you can do to get organized is put up shoe hangers in your doors, and store everyday items inside them such as cleaning supplies, utensils, or anything else that you can fit in them.

Another way to cut down on clutter is to use labels, or pick up storage bins to keep items like cords or wires in.

A tip for organizing your closet is to divide your clothes into four different sections: hang, sell, donate, keep, and fold. Once you have something marked out for every category, you can then organize your closet in any way you see fit. Here's an extra tip: you can use belt hangers to hang your necklaces and other jewelry.

I just thought this video would be useful for organizing your home, whether you're selling or if you just want to tidy up a bit.

If you need any assistance with staging, decluttering, or selling, please don't hesitate to contact me!

Staging Doesn't Have to be Expensive and Complex

If you are looking to sell your home, your goal is to get the most money possible in the shortest amount of time. One of the best ways to add value and appeal to your home is through home staging. You have a lot of options for how you want to go about it. You could hire a professional staging company, but that comes with a hefty price tag. Most of the time, a few simple fixes is all it takes to transform a living room.

Today we are going to go through some of our most favorite, inexpensive home staging tips or you. We hope these will help you save both time and money when it comes time to sell your home.

A fresh coat of paint is always a good idea. Neutral, warm colors work best for highlighting the natural light in your home. This will make it easier to punch up the room with some colorful accessories and pull everything together.

A common design problem facing many homeowners is that they have no real entry way, as their front door opens up to the living room. To fix this, you can add a table, some lighting, and a rug to "fake a foyer" and make it feel like the living room and entryway are two different spaces.

A patterned rug, some pillows, or bright curtains add a ton of texture and an eclectic layer to the space, which is essential to a well-designed room.

In some cases, a "make-under" is just what you need. In the case of most fireplaces, taking some accessories and clutter away enhances the look and feel of the room greatly.

You could spend well over a few thousand dollars with a staging company, or you could do these fixes yourself for around $500. That's a small investment considering the value that you add to your home by adding those pieces.

If you have any questions for us about staging your home or anything else real estate related, give us a call or send over a quick email. We are always here to help, and would love to hear from you!

What's Happening in Omaha Real Estate?

Today I want to talk with you about what's going on in the market, and what you can expect as we head into the summer.

Right now, we are seeing a lot of multiple offer situations, and that means it's a great time to consider selling. There is a high demand for homes, and when you combine that with our low inventory, you see that every well-priced home gets multiple offers. When this happens, the sales price for your home gets driven up, netting you more profit. If you're considering selling, reach out to us. We can give you an idea of what your property may actually sell for on the market.

As a buyer, it can be tough to deal with multiple offers. Here are some things to remember before entering a market like this:

1. Get that pre-approval letter, before you even start looking at properties.
2. With multiple offer situations, homes may be selling just over asking price, so that's not a bad place to begin your offer.
3. Before you sign a contract, make sure the terms are favorable to both parties. We are experts in this and can help.

If you have any other questions, be sure to give us a call or send us an email. We look forward to hearing from you!

Have You Heard About Rent-A-Box?

When it comes to moving into a new home, there is a lot of stress and worry involved. One thing that can drive you mad is not having enough boxes to move all of your things in. Today we would like to introduce you to a company that can greatly assist you with your move, while reducing your stress in the process.

Rent-A-Box is a company with a very simple concept. What they do is take big, sturdy, composite boxes with built-in lids, and deliver them to you for your next move. When everything has been loaded, moved, and removed from the boxes, they will come back and pick up the boxes for you.

The prices are affordable, the service is great, and most importantly, the boxes are sturdy. No more brown paper or cardboard boxes, these sturdy, plastic boxes make sure your valuables won't fall through the bottom.

This is a great service for people who are moving. Not having to worry about locating, moving, and recycling cardboard boxes is a gift in itself. If you would like to learn more about Rent-A-Box and the services they offer, visit their website at http://rentaboxomaha.com/.

If you have any questions for us, be sure to give us a call or send us an email. We would love to assist you with any questions you may have!

Is Starbucks Affecting Your Omaha Home's Value?

Hey everyone, today I want to talk about the Starbucks effect. I should probably explain what it is first. What we refer to as "The Starbucks Effect" is a recent trend that has started to occur in real estate where homes that are within a quarter mile of a Starbucks appreciate at a much higher rate than homes that are further away.

No, it's not the fact that they live near a Starbucks that is raising the value of their homes, but one thing Starbucks is really good at is targeting up and coming neighborhoods. So, by default, that area will appreciate more than other parts of town. Dunkin Donuts has had a similar effect. This study was conducted by Zillow.

I thought this was an interesting piece of information you should know about. If you have any questions, feel free to give me a call or send me an email. Talk to you soon!

Are Interest Rates More Affordable Today?

Since the new year has begun, we've heard a lot of talk about interest rates. People have been constantly asking us where they are now and where they are headed, so we thought it was a good idea to update you on the latest facts and statistics in the mortgage world.

You can usually get a good picture of the status of interest rates by looking at the numbers for 30-year fixed mortgages. Back in 2013, we saw rates down to 3.875%, but by 2014, they had risen to nearly 4.5%.

These rates won't last, though. Most economists are predicting rates to rise in the next year, and we very well may be near 5% by the end of the year. Locking in a rate now is going to save you hundreds of dollars a month in your mortgage payment, not to mention tens of thousands of dollars over the life of the loan.

If you have been thinking about buying in the past few years, now represents your best opportunity to get an affordable home with an even more affordable interest rate. If you have any questions, or would like to discuss this topic further, give us a call or send us an email. We look forward to hearing from you soon!

What Can You Expect for Omaha Real Estate in 2015?

Today we want to give you 5 key points about the 2015 real estate market that are being made by chief economists and forecasters across the country. These tips will give you a better picture of what will happen in the market this year, and help you navigate it better, whether you are a buyer, seller, or both.

1. Interest rates
They are probably going to rise this year. They have been kept down artificially in the past, but are going to rise as the economy continues to recover.

2. Millennials
Millennials, or people between the ages of 25-34, are going to make up 60% of home buyers this year. These first-time home buyers and those looking to move up will have the biggest impact on our market in 2015.

3. New construction
Another theme of 2015 will be the rise in new construction. We are seeing a ton of new construction right now in places like Elkhorn, Gretna, and Papillion. This will be another huge part of our market this year.

4. Credit
Credit is still going to be a huge factor in real estate. There are strict requirements on credit scores for buyers, but we can help. We have some great lenders who can help guide you and advise you on what your next step should be.

5. Foreclosures are gone
Those bargain, bank-owned properties we saw after the housing market bubble in 2008 are nearly all gone. If you are waiting for a steal, you will be disappointed. Don't miss the boat on low interest rates by being set on buying a foreclosed home.

If you have any questions for us, we would love to be of assistance. Just give us a call or send us an email and we will get right back to you.

What I am Thankful For

There are a variety of opportunities in the Omaha real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today I just wanted to make a quick video to talk about the 5 things I am most thankful for. Thanksgiving is right around the corner, so what better a time to talk about what I am thankful for every day. Here is my top 5:

1. My Family
I love my wife and my children, and wouldn't be where I am without them.

2. My Team
I have an amazing team and without our team, we wouldn't be able to do everything that we do for our clients, which brings me to number 3.

3. Our Clients
Our current, past, and future clients, you are what keeps us going and always wanting to improve and get better.

4. My Health
I am extremely grateful for my health, and the health of my family.

5. My Mentors
I am very lucky to have people in my life that are helping me learn, grow, and constantly get better. I am always thankful for people making me better so I in turn can help our clients and make their lives better.

Thanks for taking the time to check out our post. If you have any questions, or want to let us know what you are thankful for, give us a call or send us an email.

5 Things About our Guarantee Program

Hey guys, thanks for coming back to our blog. Today we just wanted to explain, a little more in-depth, our guarantee program. We have come up with 5 quick statements about our program that will hopefully be able to help you understand it better, because we know it is confusing at times.

1. This is a trade-up program

To qualify for our guarantee, the client must be moving up and buying directly through a Briley Team listing. We can still offer you the guarantee if you don't, but we won't be able to offer as much.

2. The Briley Team will buy your home for market price minus our 10% program fee

This figure is determined by both parties involved, based off comparable sales in the area.

3. The commission then comes off of that net price

4. The Briley Team will offer the guarantee on homes up to $250,000

The average price for a home in Omaha is $200,000.

5. The client agrees to accept any offer that results in a net price equal or higher than the guarantee price.

If an offer hasn't been received within 180 days, The Briley Team will purchase the home for the guarantee price and close the sale within 45 days.

Our guarantee program benefits both buyers and sellers. Buyers have the benefit of being able to sell their homes no matter what. Sellers benefit by knowing that our buyers will have no strings attached when it comes to purchasing a home if they are in our guarantee program.

If you have any questions, feel free to give us a call. We would be glad to help.

A Beginner's Guide to Escrow

There are a variety of opportunities in the Omaha real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

The word "escrow" is thrown around a lot in real estate, but it doesn't always refer to the same thing. Today, we want to give you different examples of where this word is used so you can be better informed.

The 1st time you hear the word escrow is probably when you are a buyer. When you write a purchase agreement, you are going to also write an earnest deposit, which shows your good faith in purchasing the home. The deposit is then put into an escrow account, a 3rd party that's going to hold the money until the day of closing.

The 2nd time you will probably hear the word escrow is when working with your loan officer. You will have to "escrow" about 7 months of property taxes and 1 year of homeowner's insurance. This money will be held in your mortgage company's escrow account.

The last time you will hear it is with the title company and "closing of the escrow". This is where the title company transfers ownership from the old seller to the new buyer.

If you have any questions about escrow, or about real estate in general, give us a call. We'd love to answer them for you.

How Can You Know What Mortgage is Right for You?

There are a variety of opportunities in the Omaha real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

With so many different mortgages out there it can be difficult to know which kind might be right for you. Because staying informed is one of the best ways to ensure you make smart real estate decisions, we have put together a list of 4 types of mortgages you need to be aware of to be a smart home buyer:

Fixed-rate: These mortgages charge you the same rate for the agreed upon term - either a 15-, 20-, or 30-year period. While it's great to know exactly what to expect, the downside is when rates go down, your payments will not.
Adjustable-rate: This mortgage is a bit more of a risk. There is no long-term rate - rather, the period is usually 3 to 5 years. The upside is you initially lock in a lower rate; the downside is your payments vary and will go up when rates go up.
FHA: These are often used by first-time home buyers. With an FHA loan you can get into your home with as little as 3.5% down. The downside is that there is a cap on how much they can loan you.
VA: Both active and former U.S. service members are eligible for this loan. You can get into a home with no money down, but there is a cap on how much you can borrow.

Knowing the difference between the many loans out there is an important step in being an educated home buyer. If you have further questions about borrowing, don't hesitate to give us a call or shoot us an email. We would love to help you make the best possible real estate decisions.

How Mortgage Lenders Determine your Loan

When you are purchasing a home, you will probably need to apply for a mortgage. Lenders will then take many factors into account to determine how much of a loan you qualify for. What exactly are those factors? We are here to let you know so you can be prepared before you go meet with a lender. Here are the 3 main things that lenders look for:

1. Credit Score

The first thing that lenders will look at is your credit score. There are 3 scores from 3 different bureaus. They range in value from 300-800 and the higher the score, the better.

2. Debt-to-Income Ratio

The 2nd thing lenders will look at is how much money you have coming in vs. how much money you are spending. If you are married, they will look at both you and your spouse's ratios.

3. Down Payment

The last thing they will look at is how much you are going to put down for a down payment. There are a lot of different loan programs out there, from FHA loans where you can put 3.5% down, or conventional programs where you can put anywhere from 5%- 20% or more down.

If you have any questions about financing or about real estate in general, be sure to give us a call. We'd love to help out with anything you need.

How Your Credit Score Can Hurt Your Chances of Buying a Home

There are a variety of opportunities in the Omaha real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Your credit score is complex combination of multiple factors that greatly affect your eligibility to take out a loan. Three companies - Equifax, Transunion, and Experian - provide information that your lender will use to determine whether or not a loan will be approved. These companies track where you spend money, what kind of debt you have, medical expenses, car payments, and credit card expenditures, among other things, to determine your score.

The range is between 300-800 and the baseline for eligibility depends on your particular situation and lender. To make sure you don't run into any problems, you need to err on the side of caution and work to build as good a credit score as possible. To do this, we recommend you check your score on a yearly basis, either through the IRS website or the many free credit score websites. This way you know what to expect before meeting with a lender.

If you are worried that your credit score is too low to qualify for a loan, feel free to reach out to us. We will put you in touch with experts in the field that can help you build your score to acceptable levels. We are also available to answer any of your questions about real estate in the Omaha area, so don't hesitate to give us a call. We would love to hear from you.

How to Get the Best Value for Your Home

Pricing your home right is one of the most crucial things you can do if you want to sell it quickly in the Omaha area. How do you price your home correctly?

The media spends a lot of time talking about rising home prices, but that doesn't mean you can raise the price of your home substantially. If you put it on the market for too much, it's going to sit there for a long time. You'll have buyers come through to look, but getting a solid offer will be difficult.

If you want your home to sell quickly, you need to make sure it's put at a fair market price. This will lure more buyers, increasing the chance you'll get a favorable offer. It's important to remember that a good offer is not just about the price, but the terms of the deal as well. We've seen a lot of multiple offer situations lately when homes are priced right, which is good news if your looking to sell your house.

If you have further questions about pricing strategies or about the Omaha market, give us a call or shoot us an email. We'd love to talk to you!

Get the Most Accurate Listing With our Help

There are a variety of opportunities in the Omaha real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Both Zillow and Trulia are amazing websites. We advertise with them a lot and they are very helpful in getting good exposure on homes for both buyers and sellers. However, due to their lack of access to a true MLS like the one we use at The Briley Team, their estimates on homes can be a bit off.

You may wonder how these sites are getting an accurate estimate on what your home is worth, but the truth is they really aren't. They are pulling data from a mixture of county assessors, newspapers, and other listing services that take into account homes in the area, but not your specific home. Each home is unique and it's very common that these online estimates are as much as $100,000 off the actual worth of the home according to the MLS database. This could cause you to pursue a home you can't afford or to not pursue a home you should be.

It is really important that whether you are looking to buy or sell, you are talking to actual real estate professionals like ourselves. We know what these homes are really worth and we can talk you through the best strategies on pricing your home or putting an offer in on a new home. Our listings are the most accurate and if you would like to access them, you can do so right on this page! If you have any questions at all please feel free to contact us at (402) 680-5733 or at adam@brileyhomes.com.

Omaha Real Estate Market Update for Spring 2014

Today I just wanted to provide you with an Omaha real estate market update to help you make more informed decisions when you enter the real estate market.

The biggest thing that we're seeing in the Omaha market right now is a low amount of housing inventory. In comparison to the last 5-7 years, we are seeing a significantly lower amount of homes to sell.
This is a very opportune time to sell if you are considering putting your property on the market. Demand is high and you will likely get a great price on your home. Be sure to do this sooner rather than later because the market will become much more busy as we head into the summer.
If you're a buyer you need to remember that interest rates are still very low. There are still good homes out there to choose from, but you will be facing competition and so you will need to be prepared to buy. Get your finances in order and get Pre-approved, and be ready to make a decision when you see a property that you like.

Multiple offer situations are not uncommon, so be willing to fight for a home that you really like. We can help you to make an attractive contract that will increase your chances of getting the home that you desire.

The real estate market in Omaha this spring and summer will be moving quickly, so whether you are buying or selling you need to be prepared to act. My team can assist you in making smarter decisions so that you get the maximum benefit out of your real estate transaction.

If you need any assistance in finding real estate to buy or sell in Omaha, please do not hesitate to contact me. I am always willing to sit down and discuss your situation.

Thanks for tuning in!

Why you should choose Briley Homes to buy or sell your next Omaha home

Briley Homes is an Omaha Metro Area real estate team offering cutting edge services to buyers and sellers moving into and out of the Omaha area. Briley Homes has over 50 years combined experience helping area home sellers and home buyers purchase, sell, and finance their dream. We have built our reputation on providing unparalleled service to all of our clients. We are a relationship-focused group. We care more about your complete satisfaction than making just one sale. Our ultimate goal is to make you a raving fan so that you want to do business with us again and feel compelled to refer us to your friends.

Adam Briley
Briley Homes
Berkshire Hathaway HomeServices
Ambassador Real Estate
13340 California Street, Omaha, NE 68154
(402) 614-6922
adam@brileyhomes.com

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Omaha Real Estate Market Update for Spring 2014