This report includes the outlook from both an economist and business leader viewpoint. Of note in the report for housing... when compared to national numbers, Omaha maintains a low unemployment rate, high household income and high home ownership rates along with continued population growth.
The S&P/Case-Shiller Home Price Index is a popular measure of domestic home prices, released monthly. The index reports on the largest 20 U.S. markets, painting a broad picture of real estate values nationwide.
The news media often uses the S&P/Case-Shiller Housing Price Index as the source for stories highlighting dramatic housing price declines. This index publishes two primary reports, one of which uses home values from 10 U.S. cities and the other from 20 U.S. cities. This chart compares historic home price appreciation in Omaha against the S&P/Case-Shiller Housing Price Index.
Despite the Case-Shiller Index's two obvious flaws -- (1) it only counts repeat sales on single-family residences, and (2) it only includes 20 major housing markets -- the model is helpful in identifying broader real estate trends in our nation's largest cities.
But data is just data. Sometimes, it takes a good picture to bring it all home. The New York Times posted an interactive Case-Shiller graphic on its website recently. For each of the 20 cities studied, users can compare how home values rose versus the national composite throughout the early part of the decade, and how values have fallen since. Not surprisingly, of the 20 cities that showed stable growth pre-2006, nearly all are outperforming in the current real estate climate.
On November 7, the Federal Housing Finance Agency (FHFA) announced that the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009 will remain unchanged at $417,000 for most areas in the US. Read the press release. The conforming loan limit has been at $417,000 since 2006. Since 1980, there has only been one period of time (1993-1995) that the loan limits were not changed. The only year since 1980 there was a decrease in the conforming loan limit was in 1990 when the limit was reduced from $187,600 to $187,450. View historical loan limits.
Jumbo mortgages rates have increased dramatically since the Fall of 2007. During this same period, conforming mortgage rates have remained relatively flat. This report provides further insight into the jumbo mortgage market and shows home owners how to avoid these high rates.
Google Street View is a feature of Google Maps that provides 360° panoramic street-level views and allows users to view parts of Omaha neighborhoods at ground level.
Imagine "driving" a buyer up and down the streets surrounding a listing they want to preview without leaving your computer. Learn how to use Google Street View here.
Mortgage rates change daily and often mutiiple times per day. How do buyers get a great mortgage? There are four questions a lender must be able to answer. Give these four questionsto your buyers to help them learn how to properly shop for a mortgage loan.
On July 30, 2008, President Bush signed into the law the most sweeping housing bill in decades. The bill will assist at-risk homeowners and communities harmed by the recent rise in foreclosures. The Housing and Economic Recovery Act of 2008 includes lengthy and very broad. This quick summary of the housing bill highlights those portions of the bill that have the most immediate impact on the home purchase market.