This just in...news and views

 What's happening on the local scene

Kiplinger Magazine named Omaha as the #3 Best Cities to Live in the nation.  With a current metro population of approx. 821,356, a 15% income growth since 2000, a median household income of $51,627, low cost of living and great school systems! 

MSN online named Omaha #29 as the 66 cities in America where buying a home makes more sense than renting! 

MSNBC also ranks Omaha among the "Top 20 Best Places to Raise a Family."

Forbes puts Omaha at #8 for best cities for jobs in their most recent survey.

Money magazine says Omaha is #7 on their top 10 Best Big Cities in their 2006 edition.

Expansion Management puts Omaha at 11th in the nation for the "Best Public Schools."

On salary.com, Omaha ranked 3rd among the "Best Cities to Build Personal Wealth"

Omaha is believed to be "one of the best places in the world to raise your children," according to Parents Magazine, mentioned in an NBC news segment on "great deals on homes for $250K or less."  Barbara Corcoran, NBC's real estate contributor added, "Omaha has some of the friendliest neighbors you'll find anywhere in America."

Our city and state continues to get a lot of positive attention, and there'll be more.

While our homes have dropped somewhat in value locally, you can also make the case that our homes are undervalued, at least when compared to many other parts of the country.  Take a look for yourself.  Our homes are bargains!

Will local companies do any laying off?  Some have already laid off employees.  Others may follow.  On the other hand, Yahoo is coming to Omaha, and will hire a few hundred workers for their data and customer centers.  Ameritrade is relocating to the Old Mill area, and plans to hire another 150-200 employees.


Bottom line:

I'll tell you where it leaves the housing industry-in a very strong buyer's market!  This is still the best time to purchase a home in 19 years.

Get your credit in order.  Lenders have indeed tightened their purse strings for those of you brave enough to make that buy.  I've spoken with lenders, who say your FICO credit score of 650 two years ago would have to be more like 740 to get that loan you wanted. 

FHA now requires a credit score of 600, and may be increased to 620.

You can get a mortgage loan with a score below 700, but expect to put down a significant down payment, as much as 20%.


Who should buy, or at least try?  It's simple: first time buyers should make the leap and enjoy the American dream.  Those looking to move up-you will likely take a hit on your home, but easily make up for it when you buy.