Depends on a few factors. For buyers who don't also have a home to sell and have financing worked out, We can spend anywhere between a week and a few months finding the right home. The search time largely depends on buyer motivation, but the recent market has been a little sparse on inventory in the Lincoln, Ne area. After an offer is written, it usually takes about 30-45 to close for a financed transaction (mortgage) and as little as 10 days for a cash deal.
So overall, Its likely We can work with a client for about 2-3 months on average before We hand them the keys to their new home. We hope this helps.... more
Is your question why would someone living in Lincoln wish to buy, or why would someone want to move to move to Lincoln to settle down?
Lincoln had a pretty good economy even in the economic downturn and since prices did not rise too much in the national price bubble, they did not fall too low in the burst. SO prices are likely to be stable and values seem to be rising. I know some people wanting ultra cheap houses that are actually unhappy about that, they want some of those values they hear about in Las Vegas, or they think they should get the same deal they saw in very small town Nebraska, but Lincoln prices are a good balance between affordable and growing value to their owners.
Also the main reason to own is just to be able to do what you want with the proeprty, to be able to remodel and have pets or whatever else, without a landlord to check in with, as well as the tax advantage of the mortgage interest deduction and the slowly increasing value of most houses.
As to why Lincoln, that's a totally personal thing. Some people may not care for Lincoln, but it is a pretty good mid-size town. Generally good and very balanced economy. Low cost of living, although I think average wages for all but the top jobs are sort of low too. A fair number of entertainment and shopping possibilties even if I wish there were more. Generally the city is growing and getting better, but does not have the problems many larger towns have.
That answer it, or do you need to hear more from one of those 2 streams?... more
Lincoln is a great 'big' city! With top name brands available in our malls, to the silicon prairie feel of our haymarket area, to the entertainment provided by the new Pinnacle Bank Arena. Lincoln, NE maintains a strong economy backed by wonderful and caring people! We couldn't imagine a better place to live!
Thanks Bill for reminding us how great Lincoln really is!... more
That truly depends on a little more information. Having an actual address to use as a radius or some stats of the home. A 2 bedroom move in ready type house will have different stats than a 5 bedroom fixer upper---etc etc.
I would love to get you real numbers and details if you want to contact me for further info!
Thank you!... more
With low interest rates and a real estate market that has seen appreciation in recent months, I would suggest buying a home for your stay in Lincoln. You can probably find something that would be cheaper than renting, all while accumulating equity for when you plan to sell down the road. Let me know if I can be of any help!
There is no guarantee that the seller had knowledge or had this happen to them. We have had some serious rain this spring, and it is possible this is what it took to flood the basement. The thing you need to make sure of is that the downspouts are clear, of sufficient size to accommodate a heavy rain, and that they move sufficiently away from the house. The grade around the foundation needs to move away from the house. If you have drain tile, you need to have a sump pump with a battery back up. If you have a pump, test it to make sure it works. Should you have all of these things, you are unlikely to have a water problem. Spend your money fixing the issue. It could cost you a fortune going the legal route and you may not win. Good luck to you!... more
I presume by "audit" you mean "asking them for feedback".
That should be done by your agent, as they will be able to elicit unbiased feedback, which agents often don't feel comfortable giving to the homeowners themselves.... more
If you are trying to "Sell Buy Owner", then claim your home on Trulia.com, Zillow.com, and post adds on craigslist. This will increase your exposure. Be sure to solicit your friends by facebook and email. Make a flyer with pictures and post it everywhere online.... more
Buying a home is serious business and one of the most important decisions you'll engage in during your lifetime. With this said, having access to and an understanding of the local real estate market cannot be understated.
The task in front of you is to become as informed about the real estate market as possible so that when the best opportunity presents itself, you will be able to identify it and respond in a manner that places you in the best buyer's position.
There is no such thing as starting too soon but there is a very real danger of being under informed. Begin NOW and work hard to become an expert. This can be facilitated greatly by working with an experienced local realtor...one that understands your plan and is willing to support it.
Since it sounds like you are planning on using financing, you'd want to first seek out a loan officer/mortgage broker/lender to work with, find out how much the payment is/money you'd need, the entire process from A-Z, etc. You can speak with & get pre-approved by many (do all of your "app"ing within 30 days for the sake of your credit score) but when it comes down to making your offer you want to have 1 particular loan officer in mind because you don't want to dilly daddle after your offer has been accepted. When you meet with each loan officer, you'll want to be prepared with information regarding your:
1. Credit (your credit scores, what is on your credit)
2. Income (gross income before taxes are taken out)
3. Source of income (a job? social security? lottery winnings?)
4. Monthly debt payments (car loan, student loan, credit cards, etc.)
5. Employment (are you W-2'd? 1099'd? Self-employed?)
6. Assets/Reserves (savings, checking, 401k, retirement, etc.)
7. Location (I suspect that'd be the Lincoln, NE area)
8. Property (house, condo, duplex?)
9. Purchase price range you are considering
How do you find that loan officer? That is tough, as I've read here at Trulia and everywhere else, a lot of people have problems qualifying for the loan after they've been pre-approved, or just are generally confused about the process, even at the closing table (real estate agents & loan officers at fault).
I suggest explore at least 3 options, and preferably at least 1 mortgage broker, 1 mortgage loan officer who works for a bank, and also one that would work at a smaller direct mortgage lender (not a broker, and not a bank, just a mortgage lender who arranges loans and sells them afterwards - usually to the banks)... it wouldn't be a bad idea if you had the time to interview up to 6. That way you can get a feel for how each does business, because not every mortgage broker is the same as another mortgage broker, etc.
You'll want to ask what the pre-approval process entails and how long it takes. Will the underwriter who will be allowing your loan to close be the person reviewing your file as part of that process? Will it just be the loan officer reviewing your information? Will they even ask you for documentation?
You'll also want to ask what types of programs they offer, and once your documentation has been thoroughly examined you'd want to get what options would then apply to you, as well as ask what your loan officer thinks would be the best loan program for your situation. Ask about the other program that would be 2nd best (as if the first one didn't exist), so you can realize why the loan you are being suggested would be the best.
You'll want to ask what type of fees & costs you could expect to incur along the way (credit report, earnest money deposit, home inspection, appraisal fee, lender & 3rd party closing costs, etc.), how much those costs are estimated to be, and when they are expected to be paid (at the time the service is performed, at closing, etc). You'll want to ask how much of a down payment you'll need, and if you have to provide it or if a family member or relative can gift it to you. You'll want to know how much extra money you would need to have beyond those costs & down payment, which are called "reserves" (ie. 2 months of reserves = 2 times your proposed housing payment), some programs don't need them but a lot do. You should also consider yourself how much you want to have on hand after you close on the home, it will vary depending on your comfort level but personally I feel at least 6 times the proposed housing payment is a safe plan.
You'll also want to ask what type of loan terms can they offer you if you were to lock in your interest rate today (you should ask all lenders you are considering this question on the same day so you can have an exact comparison, as interest rates fluctuate day-to-date and even can be intraday).
You should also ask when & how they will be available - are you someone who likes to discuss things after the normal work hours on the phone? In person on a Saturday? Through email? Someone where or not where you live?
There are more variables to think of, some will have greater importance to you and others will not, however I truly believe that you will have a feeling of pure comfort inside of you when you have found the loan officer who will be the perfect fit. You will leave the conversation having a full understanding of the road ahead and what is expected of you, as well as you'll feel the loan officer has left no stone unturned when going over your situation, listening to and addressing your needs.... more
There are many real estate scams. Be careful when you sign anything.Have an attorney help you to understand the contract. If the reason you want to rent now is because of bad credit, sit down with a lender and see what needs to be done to improve chances of getting mortgage next year. They are getting stricter with lending. There may be some good companies but 'if it seems too good to be true, it probably is.'... more
Usually the square footage listed does not include the basement particularly if it is not finished. However; sometimes if the basement is finished then the listing agents do include it and are supposed to disclose that the basement is included in the total square footage.
Hope that clarifies.
Prudential Connecticut Realty... more
I've never helped someone buy in Lincoln, but a few years ago in Grand Island, NE on a $235k sales price, 2,300 sq ft home, the annual premium was $612.
With each insurance company you may have the option of paying on a monthly basis (sometimes a discount, sometimes not) or paying annually (each insurance company may have different options). If you are escrowing your insurance with a mortgage payment, you split up the insurance into 12 monthly installments that is added on to the principal & interest portion of your mortgage payment, and then the mortgage payment will pay your insurance company annually on the policy renewal date.... more
There is a lot of incontinuity in the neighborhoods of Lincoln, NE. Depeding on which neighborhood you are looking in, you will find homes that range from $200k-$300k, surrounded by townhomes and an aparment complex. To find the avg price per sqft of what you are looking from is going to require that you find which area of Lincoln you wish to live. Then you will be able to find a more valid price per sqft, as oposed to trying to get an overall avg.
Having said that, in a nice neighborhood with good continuity I would say you will find the avg price per sqft in a range of $110-$150 per sqft.
If you ever need to call on my professional assistance to answer any of your questions, feel free to contact me directly through this site, or email me at email@example.com... more