Policy Updates to Be Aware of This Spring

Looking to improve your real estate career? I'm here to help you make a smart decision when it comes to growing your business, improving your bottom line, and choosing a place to work in real estate sales. If you'd like to learn more about working with DEEB Realty, contact me at (402) 491-0100 or email andy@godeeb.com  

Today I just wanted to discuss some important policy changes that came about during a meeting at the Omaha Area Board of Realtors. Some of these changes may affect your transaction, so I wanted you to be aware of them before they caused you a headache. 

• Uniform Purchase Agreement changes: A lot of people were very excited when the new uniform purchase agreement came out, but there were some revisions that needed to be made. At the end of January 2015 some revisions were made to this agreement, and they will be going into affect on February 1st. Hopefully people can take advantage of this new agreement, because we think it's very beneficial.
• No show - no auto emails: If you have a coming-soon listing or an off-market listing, you will need to sign an addendum of MLS benefits. This waiver has been updated, and it doesn't allow for automatic emails to be sent to clients when a home goes on the MLS. 
• Days on market: There was a discussion about how we can better track days on market to make it more accurate, and we're looking to come up with a more accurate solution in the near future. 
• "List Date" definition: We have redefined the 'List Date' for homes to the actual day where the first showing occurred. Sometimes list dates will begin but repairs and staging can take up to two weeks, and this results in your home being on the market for two weeks before a showing. This was damaging to sellers, so we've changed this policy.
• FHA reduced premium mortgage insurance: The FHA has reduced their PMI rates, so it is much more affordable to get a loan. Also, Fannie Mae and Freddie Mac have reduced their down payment requirement to only 3%, so buyers are finding themselves in a very affordable home buying market right now. Hopefully this can re-energize the market and bring more buyers out this spring.

Hopefully all of this information has been useful to you. If you ever need me to explain these updates to you in further detail, please don't hesitate to contact me or my team. 

We're always willing to help you with Omaha real estate!

New Nebraska Laws that Could Affect Your Real Estate Transaction

Looking to improve your real estate career? I'm here to help you make a smart decision when it comes to growing your business, improving your bottom line, and choosing a place to work in real estate sales. If you'd like to learn more about working with DEEB Realty, contact me at (402) 491-0100 or email andy@godeeb.com

We just got done with Legislative Days down in Lincoln. The Nebraska REALTORS® Association holds meetings down there to discuss bills that would affect real estate. You may have heard of RPAC, which is the REALTORS® Political Action Committee, and they fight for the rights of REALTORS®. This is why they need your donations to keep your best interests in the minds of politicians. 

We looked at 20 different bills, but I've got six here that I'd like to discuss.

• LB34 is going to require carbon monoxide detectors inside homes just like you have smoke alarms. This would obviously affect your purchase agreements in the future. 
• LB253 is a big one that has to do with Notary provisions, and the hearing is coming up in a few weeks, so we're hoping that will pass this time.
• LB 372 has to do with First-Time Buyer Savings Plan. This is a unique idea and it is similar to a college savings plan. Joni Craighead, the Senator introducing this bill, is also on the Omaha Board of REALTORS®. This is a great idea that's being acted out in Virginia, where you can put $50,000 towards the cost of a new house. 
• LB 375 has to deal with BPO's for tax assessments. This would allow REALTORS® to price homes for tax assessment purposes, which is currently prohibited under law.
• LB 397 is a $400,000 lead-based paint grant for the Omaha area.
• LB 406 will extend the Adverse Claim Possession from 10 to 20 years. 

There are several other bills that we discussed, and some of them are also very interesting. I do encourage you to get involved with RPAC, and if you'd like to learn more about these issues I would also encourage you to contact me or my team. We're always pleased to serve you.