2010 Prudential Marketing Award

We'd like to thank everyone for a great 2010 and for supporting our blog. Prudential recently recognized us with the 2010 Marketing Award and it wouldn't have been possible without all our friends, families and awesome clients. So thanks again and here are the tools we use to market homes.

Ever Wonder What Goes into a Successful Real Estate Listing?

Stick a “For Sale” sign in front of your house and it will automatically sell, right? Not exactly. Instead of relying on only one form of marketing for the home you have for sale, we use several proven ways to bring much better and quicker results than you might expect.

The 1-800 Number on the Sign

You can’t drive by one of the Elliott team’s “For Sale” signs without seeing the distinctive 1-800 number. There is a reason for that: it drives sales to your home. It’s an excellent way to tell the world that your home is for sale. We receive many calls just from this one marketing method.

Prudential Website

The Prudential name means something with consumers. It has a reputation for excellence in home sales and customer satisfaction. My Prudential affiliated website that potential homebuyers visit shows that we are a reputable real estate company. Many times that fact gets us in the door with potential customers and it allows us to show them your home.

The Team Elliott Website

When people visit our website, they can easily see we are no one man (or woman!) show. In fact, we have several agents diligently working to get your home sold.

Our website doesn’t contain a lot of fluff about how great we are at what we do. In fact, it shows where homes in the Omaha area are for sale. If you’re selling your home, it will show up on the Team Elliott website so potential buyers can see it. We give detailed information on the homes we have listed and, in some cases, we offer video tours. This gives potential buyers a glimpse into a home before they commit to a tour. This is a very valuable marketing tool.

The 4114Homes Website

A term commonly known among real estate agents is the “4114 website.” What does this somewhat generic sounding name mean? This is a powerful website that lists multiple home listings all over the US. That means if someone in Davenport, Iowa is contemplating a move to Omaha, NB they can go to the website and find your home.

These potential buyers don’t need to know anything about Team Elliott since they aren’t located in Omaha. They simply need to type in the Omaha zip code they are interested in buying in (an easy to use zip code finder is also located on the website) and the 4114 site will automatically pull up any homes for sale in that area. This is a powerful tool for getting your home noticed by many potential buyers, including those outside of Omaha.

Team Elliott Brochures

While the Internet has replaced many forms of print advertising, a simple brochure left in key locations can reach people who are away from their online search tools or, for some reason, don’t use the Internet. Often these simple pieces of paper can be key in simply introducing the Team Elliott name to a potential buyer.

If you are trying to sell a home with us, you can rest assured we are doing all that we can to help you. Through our wide array of unique marketing channels, we are sure you will be happy with the quick results we bring.

Remodeling Your Bedroom; More Than Just Repainting The Walls But Well Worth It

When most people consider remodeling their bedroom, they usually have a few things in mind; adding new bedding, changing the drapes and painting the walls a new color. But if you really want to grab the attention of potential buyers or ramp up the value of your home, it will take more than just a few cosmetic changes. Revamping a bedroom can involve a few major and several minor enhancements that, when done, will change the entire face of the space. We’ve put together some key areas that add a great deal of charm while influencing the likes of future buyers.

Flooring

One of the most significant changes you can make when remodeling any space, especially a bedroom, is the flooring. Depending on your goals and end use, decide whether installing a hardwood floor will enhance the space or if adding carpet will soften the room and make it more comfortable. Consider the following essentials: price, time and usage. If the room you are looking to remodel is a kids’ playroom, then installing hardwood flooring may be a smart decision. If you’re changing the master bedroom after years of having a hard surface floor maybe the idea of a soft, wool carpet is appealing. No matter what your choice, changing your flooring will have the single most impact on the new look of your room.

Lighting

Often overlooked, lighting plays a vital role in the design and décor of a space, especially one as personal and private as a bedroom. Some homeowners opt to install skylights during major remodeling efforts. Others choose to change the lighting fixtures themselves. Even if you are working with a tight budget, a simple maneuver like changing a lampshade and placing it in a different spot in the space can make all the difference.  If your bedroom has an attached bathroom, remember to keep any new lighting fixtures consistent throughout, including the bathroom.

Fixtures and Hardware

Lightings fixtures aren’t the only fixtures in a room that can have a noticeable impact on the look of a redesigned area. Simple things like door handles or knobs, furniture pulls on dressers, desks and tables, or the things like ceiling fans can dramatically change the décor and ambiance of your room. By remaining consistent in terms of finish (brushed nickel, brass, wood) and size – everything will pull together very nicely, ultimately enhancing the entire home.

Space Enhancements

Who doesn’t want or need extra closet space? When are the windows in our bedrooms large enough to bring in the perfect amount of light and small enough to block out unwanted attention? Usually, there is almost always room for improvement in these areas.

Closets

As families grow and more time is spent in a home, the need to increase the physical storage volume of a space skyrockets. Closet additions are one of the most sought-after remodeling projects undertaken by homeowners. Ranging from some mild demolition and the rebuilding of a new, bigger and better closet – to adding a foot of depth or new doors, updating your closet will not only enhance the quality of your life but it will also make your home more appealing to potential buyers.

Windows

Chances are that unless you built your home in the first place, you had little or no choice in the matter as to how the existing windows were. If your heart was set on bay windows but the house you were buying only had the casement style, the windows were probably not what tipped the scales toward your buying another home. So when it comes to remodeling your bedroom, here’s your opportunity. While it can be an expensive undertaking, new and improved windows are one of the most attractive aspects of a home to potential buyers. They are also one of the easiest ways to transform a space into an entirely new look.

Color

Color does matter. Considering the overall color scheme of your remodeled bedroom, keep in mind that the walls will be semi-permanent. Opt for shades that work well with your furniture, appeal to the rest of your house’s décor and generally make happy the person who will be using the space the most.

Aesthetics

The finishing touches are, for most people, the most fun part of the entire process. Investing in a few new accessories, treating yourself to new and luxurious bedding, laying a fresh rug and making small changes – all are things that will perfect your new design.

When you factor in the benefits one reaps after a remodel job, especially for a bedroom – it becomes crystal clear that whatever the investment, it is well worth it in the long run. Whether or not your goal is to sell the property, offer it for rent or to enjoy lasting use of your home – remodeling the bedroom will enhance the experience. Since a crucial aspect of home ownership is to keep your home maintained and up-to-date, doing so will undoubtedly be useful no matter what the goal.

Up and Coming Trends for 2011 – Business As Usual for Most of Us!

Everyone wants to know what to do next. Should they sell? Is it the right time to finally buy? Hold off on all things till the real estate sun shines brighter? One thing that will help you decide whether or not to buy that dream house with the kidney-shaped, mosaic pool is to know what to expect in the New Year. We’ve put together some projected trends for your benefit, based on how things progressed from last year to now.

2009 vs 2010

Looking at property sales figures and comparing them from 2009 to 2010, there is an obvious increase. As much as ten percent or more higher in 2010, what’s promising is that this is a very normal tendency in a stable market. In 2010 in most typical markets there was an average of 11,000 properties sold as opposed to 2009’s 10,000, which means that the relatively normal movement indicates a positive, upward curve.

Higher Median Price Range

Our median prices have gone up about 25% up from what it was in 2009. Contrary to a common misconception, an increase in median price range does not mean that the prices have gone up. In fact, what it really means is that there is a significantly more activity in the higher priced properties; all very promising signs for us.

Fewer Days on Market

The average number of days on market (DOM) for many properties has significantly reduced – as much 40%! Another way of looking at this is that there is an average 40% decrease in time it takes for the usual property to sell. In other words, things are looking up!

Lower Interest Rates Stay Low

We all know they’ve been low for some time, but no one really knows how long they will stay that way. Experts are predicting that they will continue to remain low for at least the next six months, to as long as 24 months, which is great if you’re in the market for a new home. With this promising to carry into 2011, this is also a very good time to get that refinancing done, if you haven’t done so already, and lock in those great rates!

A Few Not-So-Fantastic Trends

Of course, it’s not always a bed of roses and this year’s expected hurdles are mainly centered on a slow (although definitively steady) pace of improvement, slow job growth, and an inclination toward short sales and foreclosures in the more expensive properties ranging from $1.5 million and up.

The bottom line of what to expect for 2011 is a scene of varying markets; each unique to the next, which is why you will benefit from an individual consultation with your real estate agent – to examine the trends in YOUR area.

Generally, based on 2009 versus 2011, we will see “business as usual” but with the advantage of a relatively flat range of prices and the disadvantage of slower than usual job growth. Holding on to the hope that with small incremental growth and little bits of improvement, we expect another year or two to go by as they have been and then things should eventually start smoothing over and working out.

Replace Your Space and Add Pizzazz with a Fresh Splash of Color!

The bottom line is that if you aren’t in the market for a new home anytime soon, you just have to learn to “live” with the one you already have. Not that your four walls are anything less than to be desired – but the simple fact is that after 5, 10, especially 20 years later – you NEED change. We’ve put together some trendy ideas that will at least make you feel as if you’ve moved on to a bigger and better place. So enjoy the best of both worlds while you are in the comfort of your familiar domain yet surrounded by a new look!

Add Tangible Texture

By simply incorporating a few textured walls in your design scheme, you will enhance the look of your home or office significantly. The updated look will almost instantly increase the perceived value of your domain. The modern, stylish trend has been around largely since the 70s but today’s newer patterns, large variety of painting accessories and exciting paint finishes, make the end result seem as if you had your place decorated by a professional. Whether you opt for an extra-wide tree bark texture finish or go for an exaggerated striped wall making a mixed pattern of some glossy paint finish stripes and others matte – the choice (and look) is yours. Break away from the boring and routine. Embrace the pizzazz your place will instantly command attention to – after all you are going to be around for a while, right?

Make it Monochrome

For rooms that should be larger than they really are (like your family room, for instance) one way to add some zing to it is to play around with all shades of one color. So while it’s technically ‘monochromatic’ the varying shades add interest and dimension to the room. The first step: choose your color. It would be a good idea to consider the number of furniture pieces you have in the space, your liking or disliking of a particular color, and also just how much you want to ‘go crazy’ with this color. Once you decide, visit a color specialist at a leading home improvement store and go up one shade and down one shade, select the spectrum you want to decorate with. From that point on, pick and choose select pieces in the room, being careful not to overdo large pieces with heavy colors, therefore throwing off the balance of the room.

Hang it all Up

In case your goal is to feel as if you’ve moved into that extra large house with the spacious closets and HUGE living room, there is a solution for you! Once you’ve fixed up the place with a textured and (maybe) monochrome look, by strategically installing large mirrors in key areas, you can expand the look and feel of the space. Not only that, the flow of light will increase hugely, which can lend an entirely different personality to your home or office. When you install mirrors, use the beveled-edge variety for a more polished look. The larger the wall, the larger the mirror – and the more perceived space in the room.

Whoever said “a little bit goes a long way” really knew what they were talking about. It doesn’t have to break your bank to replace your space, but as long as you are willing to give it some time and energy, in no time – and especially until you are ready to move on to that dream home – you can have a home that looks and feels brand new!

Instead of Burning All That Cash, SAVE It With These Great Energy Conservation Tips!

When your home is poorly insulated, running on faulty ground or operating on less-than-efficient standards, rest assured, you WILL at some point have to empty those pockets and suffer some serious damages. It’s not just a matter of being ‘green’, though that is always a great way to live, it’s actually more a matter of finding the best and most efficient ways to live in your home so that you and your family aren’t losing out. It doesn’t have to be this way forever. By following just a few straightforward adjustments you can conserve energy and live comfortably. Here’s how:

Close the Gaps

The biggest lost opportunity to save energy is when people don’t make sure all seals are properly closed. This holds true for all areas that lead from one environment to the next – even indoor climate changes apply here. So if you don’t heat your basement in the wintertime by placing a draft roll at the base of the door that leads from the basement to the heated area, you are doing yourself a huge financial favor. A lot of times, homeowners are simply not aware of how much energy is lost through these gaps. You can save several hundred dollars per year if you make sure there are no drafts coming through your windows, doors and other similar closures. Making sure there are no gaps left unclosed will also keep the heat out or cool in depending on the season.

If it’s Broken, Fix It

Few people actually realize just how much a broken or inefficiently running appliance can become an energy-monger. Take a dishwasher, for instance. When a dishwasher is run at a less-than optimal level, it uses up more electricity, tends to run in a way that requires more than the usual cycles because the dishes don’t end up as clean as they should be. If the electrical systems are not working properly, for example, the appliance will run on a lower voltage, for a longer period. All these things are examples of things that go wrong when a machine is not working 100% properly. The same philosophy applies to heating/cooling systems, bathroom fixtures (imagine how much water wastage occurs with leaking faucets or toilets!), faulty security devices or even bad window and doors installation.

Light Up With Sky Lights

In the dark ages it was literally dark. Ok, so maybe not all the time but the basic concept of daylight and twilight remained, leaving activities that required light to be done after dawn. Since the advent of electricity, however, all that has changed. But it doesn’t mean that just because we can have ‘daylight’ around the clock, that we should. By seizing the energy opportunities availed to us by the sun, you can save a lot of money on unused (and unnecessary) wasted electricity. A skylight is an excellent solution because depending on the design, not only does it light up a large area of space in your home, it is also stylish, modern and green. Skylights were around long before everyone starting ‘going green’ but they have significantly evolved and they are definitely here to stay.

Plant Roots on the Roof

Plants are a surprisingly good insulator against the elements – and they look great too! Most people think of plants as an aesthetic addition to their home, to liven it up and add that greenery that is loved so much. But did you know that plants are also a great way to naturally clean the air and block irritants like dust and insects by acting as barriers if placed strategically in your home? The most unknown benefit of greenery from an energy conservation standpoint, however, is the insulation effect it offers when used on rooftops. The phenomenon of rooftop gardening for this purpose is very prevalent in Europe and other parts of the world and extends beyond household real estate to commercial real estate as well. As an excellent way to seal in the cool (or warmth) inside a space and of course ideal for flat rooftops, if yours is an outside space that you can cover with greenery, you will start seeing the savings pile up with less energy costs.

Use the Sun

Install solar energy panels wherever possible so you can generate electricity using the natural power of our sun, rather than the energy company with constantly rising costs. With so many options, sizes and styles of solar panels, you can even go one step further and purchase things like solar-powered outdoor lamps, heating and cooling and air conditioning too. The choices and price ranges are limitless.

Whether you decide to go on a maintenance spree, invite the sun right inside your home or go green on your roof, you are sure to save enough to return any investments made to conserve the energy in the first place. It doesn’t take much but if you and your family are consciously aware of making these few changes to your home and lifestyle, before you know it, you will be able to take a vacation with all that money you save!

Maximize Your Space; Putting All That Stuff in Its Place!

Everyone loves a ton of space. Whether in your closet, garage or anyplace else in your home, there always seems to be the need for more room. So what happens with all that stuff we’ve accumulated over the years? It keeps getting piled up, adding clutter and making our space much more uninhabitable than it really needs to be. The easiest way to circumvent the problem of very tight spaces is to open it up. How, you ask? Simple. Play around with creative storage solutions, use any and all unused space around you – and things will start falling into place, literally.

Imagine yourself walking into your home office, only to be greeted by stacks of paper, unruly computer and technology equipment and wires, storage boxes, books and more. It’s not that your obsessive-compulsive next door neighbor with the perfect home office has less stuff. It’s just that he knows how to work with the space he has to utilize it to the best of his needs. With these few simple steps, you can be on the road to being able to focus on the things that really matter, leaving those that don’t to be sitting somewhere safe where it belongs.

Double-Decking and Triple Stacking

Closets

The most obvious place we see a ton of wasted opportunity is the closet. On the one hand, a closet is designed to store and maintain our most personal of possessions. But if you take a closer look, nine times out of ten, the closet space just isn’t very functional. Yes, there is some hanging space. Yes, some shoes can be stored on the floor and for most people there is at least one shelf above all this, to put items like folded sweaters and handbags on. Unless you’re one of the very lucky people who have a walk-in closet the size of most homeowners’ master bedroom, chances are you are lacking in sufficient closet space.

By installing simple and easily affordable stacked storage units, the dead space that is typically from the top of your shelf to the ceiling, and also that which is from the floor to hanging clothes – can be utilized. Set up your hanging areas in a way that double-deck your pants storage and other shorter items. The shelf space overhead is a great place to keep seasonal items that rarely need to be accessed.

Stairs and Landings

There is always room under or over staircases. Whether it’s your basement stairs that leave a wide-open opportunity to keep things under wraps or the gaping section overhead where there is a staircase and foyer area – the prospects are limitless. Consider using the basement gaps to house your washer and dryer units. Large, cumbersome appliances are never aesthetically pleasing. So to be able to keep them semi-hidden and devote that extra room to recreation or an entertainment space is very useful to homeowners.

Kitchens

If you’re not careful, over the years the amount of kitchen that can be accumulated is tremendous. One method used to keep homes within reason in terms of stuff is to purge and purchase. Many people employ a policy of donating or selling old items before bringing in the new; a great way to maintain balance. But for the rest of us, that is just not practical. One great way to use extra space in the kitchen is to hang a pot rack. Not only does it add character to your kitchen, it also frees up a ton of kitchen cabinet area.

Staying Together in Groups

Families know only all too well the need for space, space and more space. The larger the family, the more stuff keeps coming in – and there’s a good chance these people are not among those who purge and purchase. So what is the solution opportunity here? Organize, stack, store and keep together items that are similar. If your six-year-old insists on owning every single Matchbox car that ever was, you will need to find a viable and practical solution to store his collection. Keeping all his cars in one large bin is a great way to maintain his room, yet provide him the much-needed accessibility to his possessions. This basic rule of thumb applies to all areas around the house. Grouping kitchen utensils, stationery or a million little hair doodads owned by your very particular, up and coming teenager is the way to maintain available space and use up the dead variety.

Deep Down Under

EVERYONE knows that monsters live under the bed. Ok, well maybe not. But if you install a couple of under bed storage drawers and make that the place where all art supplies are stored, you will be doing your child a huge favor. Not only will it free up her desk but it will also keep her room neat and provide more area for her to hang out.

It’s NOT Always What’s on the Inside

The garage is the single best opportunity to maximize wasted space. You can hang peg board on the walls, put up tools, small bins and other clever storage knick-knacks. Avid cyclists often hang their bicycles overhead in the garage. Floor-to-ceiling garage cabinetry is another way to replace clutter for the cars in your space.

Who says you have to move into a five-thousand square foot expanse? With just a little bit of creativity, an open-minded attitude, some innovative methods and the will to implement, you CAN change the entire look of your smaller home – almost “doubling” it in appearance and tastefully maximize every last bit of space available. The only thing you may find challenging is knowing about and finding all that “hidden” dead space in your home so you can work at making it useful!

Happy Holidays from Team Elliott!

We would like to wish you and your family a happy holidays! Thank you for all your past business and the referrals you have sent us as well as supporting our video blog. Remember us for any of your real estate needs and have a great and safe new year. See you in 2011! Now please enjoy this article about bi-weekly mortgages.

Are Bi-Weekly Mortgage Payments Worth the Time and Effort?

In most cases, yes! It’s essentially a process by which you make extra payments on your mortgage. That way, you save interest costs and pay off the loan faster.

How Does It Work?

You make a payment to your lender every two weeks instead of once a month. This means that each payment is equal to half of the monthly amount due. The result – you’re paying the equivalent of 13 full payments rather than the usual 12.

It gets even better! The full amount of the extra payment is applied toward the principal. And because the principal balance is the amount on which interest is calculated, paying down principal results in a reduction in accrued interest!

Let’s look a traditional payment monthly schedule vs. a bi-weekly schedule so you can see exactly how it works.

Example 1: Traditional monthly payments

Let’s assume you have a loan balance of $250,000 with a 6 percent interest rate and a 30-year loan term. In this example, your monthly payments are $1,498.88. So, over the life of the loan, you’d pay a total interest of about $289,595.

Example 2: Bi-weekly payments

Using the same loan balance and terms described above, the difference would be the following:

• $749.44 paid every two weeks

• About $225,490 paid in total interest

• This results in a savings of more than $64,000 in interest!

• In addition, the loan is paid off in 24 rather than 30 years

Bi-monthly payments are still a good strategy if you’re an individual who doesn’t plan to keep your house for 24 or 30 years. Why? Because bi-weekly payments still reduce principle, even over a short period of time.

For example, in the first year, the principle is reduced by nearly $1,600. And, at the end of the fifth year, the principle amount has been reduced by about $9,000!

How Do I Arrange Bi-Weekly Payments?

The first task is to contact lenders to find out if they do offer a bi-weekly payment schedule.

If they offer one, ask what the participation requirements are. In typical situations, lenders require you to have payments automatically withdrawn from your bank account since they dislike processing checks every two weeks.

Often, it’s the case that a one-time fee is charged for this service. The fee can be minimal or be in the several-hundred-dollar range, depending on the lender.

So, after all these benefits, how can there possibly be disadvantages to bi-weekly mortgage payments?

Well, the first disadvantage relates to a situation I mentioned above - the lender’s fee is very expensive for the service provided. In such a case, the costs may outweigh or cut down your overall savings.

A second disadvantage occurs when paying bi-weekly is too hard on your budget. Upfront, you need to make sure that you have the money available for the increased payments.

The final potential disadvantage relates to the length of time you plan to stay in your home. That can affect your overall savings on interest.

I recommend that you weigh the pros and cons of bi-weekly mortgage payments by using one of the many online calculators. Just enter your numbers and the calculator will give you a comparison.

If you’d like the assistance of an expert on the subject, contact us immediately!