About Douglas County, NE

Cheeese......

See the camera

Say "Cheeese!"

See your Nana and smile

See your Papa and giggle.

Run little one, he's gonna tickle you

Hurry, get your books or your puzzles

Time to read and play

Nana and Papa take time to read all the words, giggle and tickle and play

Cheese snacks and chocolate milk

Swing high in the swing, slide down the slide too many times to count

Walk around the block with Papa or Nana holding your hand

Making memories and making two grown people experience pure joy.

MY 2 CENTS:

So the BAD First, Cuz I Know You Wanna Hear It:

We were having crazy times leading up to the first week in November because we were getting everybody in to see homes, to be able to get a contract written, negotiated, and escrow closed all by November 30, 2009. It was busy, bustling, and so fun with madness. My listings were being shown like crazy. I was scrambling all over town to get my buyers in so we could make this magic happen on this short deadline. I was thrilled. I love the madness of real estate. Soooooo, when the extension passed we were mid negotiation on 2 contracts on listings. All the sudden negotiations came to a screeching halt and both buyers took an extra day to think over the contract. Why? Because all the sudden had this huge pressure off to pick something and close. Now, hmmm, shall they keep window shopping? Shall we stroll around the block again? Shall we play a game of pitch, do some cart wheels, play our playlist on iTunes, and then put in an offer? They could play with our poor sellers emotions. Poor, sad sellers having to be subject to this drunk with power buyers.

I think it would have been better to have the credit expire on the 30th, so you squeeze out and have real statistics on how the first one went. The people who were buying would have bought because they wouldn't have known if it would be extended. Our sellers that didn't get sold would get more motivated to get in on the next wave OR ELSE... We would have had a solid cut off. A solid, intense, driven market. Clean cut bought. Clean cut sold...All due to the Tax Credit of 2009 chalk it up.

Then start the other one Jan. 1, 2010 so again you can gauge and get statistics on the effectiveness of expanding it to non-first home buyers and if people didn't just extend from 2009 into 2010 just because they could.

THE REAL BAD:

Those poor non first home buyers that bought this year with no incentive. They sold their home because the market was good to sell since buyers were out in the sunlight, exposed with the tax credit as their carrot on a stick. One couple I have in particular who got bit in the rear by this is so deserving, is so sweet and wonderful; they lived in their home for 30 YEARS?! And missed this $6500 by a couple of months. Depressing for them. My sweet, sweet clients. I am so sorry the government screwed you like that.

THE GOOD!

I am thrilled it was extended and expanded! Ah, the clouds were starting to rumble, we were beginning to get scared what the missing carrot on the stick for buyers might do to the market. And then, the clouds parted, the sun shone through and the heavens sang down their great news of a continued proverbial carrot dancing in front of not only first home buyers...Wait for it...Also to people that had owned their home for at least 5 years. Hallelujah, Hilayahiya, Hallelujah!

Learn about the Nuts and Bolts of the Tax Credit Expansion/ Extension Guidelines visit my last blog entry.

OR you can just call me or email me with your unique situation and I will help navigate you through this wonderful world of real estate and any questions you may have.

www.ColleenWoodward.com

Prudential www.UrbanOmaha.com

402.571.5887

I just re-read my own blog post about the impending doom and gloom of the tax credit expiring on November 30, 2009. And now look at this world: Extended AAAANNND Expanded. How lucky are we?!

The Low Down of the Tax Extension:

Anything that is in a fully executed contract by April 30, 2010 and closes within 60 days will get the blessed and wonderful $8000 tax credit. This is cash. Not a deduction as many first homebuyers may not understand the difference here. It is an actual credit. If your balance for your tax return is 0, no return, no pay, then you would get $8000 from Uncle Sam. It's so exciting and historic, it makes us real estaters giddy.

The Expansion of the Tax Credit:

Anyone who has owned their current residence for the past five years that they are selling to purchase a new property qualifies for a $6500 tax credit (think: money in hand)

The Stipulations AKA: Fine Print

Unless you have already claimed it, the credit can now only be claimed when filing next year's tax return (in 2010) by using Form 5405. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify), each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000 (up to April 30th 2010).

Tax Credit Exclusions: Homes that cost more than $800,000 aren't eligible for the credit and you must be over 18 years old to claim the credit. Those who sell their new home or stop using it as their main residence within three years would have to repay the credit. You cannot claim the credit if acquired your home by gift or inheritance OR if you acquired your home from a related person.

Income qualification limits: The home buyers' credit would be available to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the original rules. However the higher income limits are not retroactive, and are only applicable for home buyers who purchase a home after Nov. 6, 2009. The existing income (MAGI) limits still apply to purchases on or before Nov. 6, 2009.

Top Realtor Omaha NE Real Estate

Colleen Lang Woodward www.ColleenWoodward.com

Prudential Urban Omaha www.UrbanOmaha.com

402.571.5887

The following times and locations have been set for H1N1 Vaccine clinics in Douglas County, Omaha, Nebraska:

The clinics serve the target groups determined by the Centers for Disease Control. They are:

• Pregnant women
• Children from 6 months through 24 years of age
• People who live with, or care for, children younger than 6 months of age
• People between the ages of 25 years and 64 years with chronic health conditions
• Healthcare and emergency services personnel

THERE IS NOT A CHARGE ASSOCIATED WITH THE H1N1 VACCINE ADMINISTERED AT THE DOUGLAS COUNTY H1N1 VACCINATION CLINICS

Chronic health conditions include asthma, liver disease, cancer, and possibly others. Questions? Just call Douglas County Health Department H1N1 Information Line at 402-444-3400.

Omaha Existing Residential Real Estate Market for October, 2009

The number of existing homes sold in Omaha in October, 2009 was higher than in October, 2008. The prices were largely unchanged. A lot of this is due to the First Time Home Buyer Tax Credit which brought many new buyers into the market resulting in stabilized prices. I anticipate that Omaha home prices will remain stable until the end April, 2010. At that time without a signed contract buyer are ineligible for the credit. As a result unless something fundamentally changes then prices will drop.