Posts in category 'Uncategorized'

The recent National Association of Realtors (NAR) lawsuits have been top of mind in the real estate world lately. Below is a brief overview from the Nebraska Realtors Association of what's been happening. 

Burnett Overview 

• The Burnett case is a class-action lawsuit that was filed in Missouri federal court by a group of Missouri home sellers. The National Association of Realtors (NAR) was named as a defendant in the case along with several corporate defendants.

• The plaintiffs argued that NAR's cooperative compensation rule amounted to a conspiracy to fix commissions paid by home sellers to buyer brokers. The rule, which is applicable to certain Multiple Listing Services (MLSs), requires listing brokers to specify the compensation being offered to b...

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The new year is right around the corner and the housing market forecast is looking pretty good. Let's take a look at prices and number of sales.

Experts Forecast Ongoing Home Price Appreciation

Experts from Fannie Mae, the Mortgage Brokers Association and the National Association of Realtors, have all weighed in on their housing market forecasts for next year. On average, they forecast prices will end this year up about 2.8% overall, with Omaha likely being even higher than that. And they forecast an increase by another 1.5% by the end of 2024. That's big news, considering so many people thought prices would crash this year. The truth is, prices didn't come tumbling way down in 2023, and that's because there just weren't enough homes for sale compared to the number of people who wanted or needed to buy them, and that...

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When it comes to selling your house, you're probably trying to juggle the Omaha real estate market conditions and your own needs as you plan your move.

One thing that may be working in your favor is how few homes there are for sale right now. Here's what you need to know about the current inventory situation and what it means for you.

The Supply of Homes for Sale is Still Far Below the Norm

When you're selling something, it helps if what you're selling is in demand, but is also in low supply. That makes it even more desirable since there's not enough to go around. That's exactly what's happening in the housing market today. There are more buyers looking to buy than there are homes for sale.

To tell the story of just how low inventory is, here's the latest information on existing homes available for sa...

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The U.S. News and World Report recently published a report about the most undervalued markets to rent a home. Five cities in the Midwest topped the list with Omaha taking the number one spot.

According to the Department of Housing and Urban Development, households spending more than 30 percent of their gross monthly incomes on a place to live are "cost burdened," since that leaves less room for spending on other necessities of life. Nationally, some renters are paying well over half of local per-capita incomes for rent.

However, at the other end of the spectrum, in the most undervalued markets, some renters are paying below 24 percent of median per-capita incomes for rent. As a result, with many renters paying well below the U.S. medians for these ratios, a number of cities are likely undervalued based on local earnings. 

Th...

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Douglas County Existing Homes

There were about 543 existing homes that went under contract in September, down10 percent compared to August, and down only about 4 percent compared to the samemonth last year. The median sale pricein September was $280,000, up from $270,000 compared to the same month last year.

Worth noting, the number of existing homes for sale at the end of September increased by over 25 percent compared to August. This represents the most existing homes for sale in Douglas County in over 3 years.

Douglas County New Construction

About 62 new construction homes went under contract in September, roughly the same as the previous month, and almost double the number from the same month last year. The median sale price in September was about $400,000, down about 7 percent compared to the same mo...

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