Thursday, November 12, 2009

Homebuyer Tax Credit Extension & Provisions

It is official that the Homebuyer tax credit has now been extended... YIPEE!!! There also have been a few modifications to the tax credit. Here are the provisions of the current homebuyer's tax credit that just passed:

*The $8,000 first time homebuyer's tax credit has been extended and there is a new $6,500 tax credit for homeowners buying a new home by July 1, 2010.

*Homebuyers with contracts as of April 30, 2010 will qualify for the credit. However, they must close on their home by June 30, 2010.

* The credit is available for homebuyers with the following income: Up to $125,000 for a single return. Up to $225,000 for a joint return.

*The credit is not available for homes costing over $800,000

*Homebuyers who already own a home will qualify if their current home has been their principal residence for 5 consecutive years within the last 8 years.

*Individuals who have been deployed overseas for 90 days or more in either 2008 or 2009 have until April 30, 2011 to claim the tax credit.

For more information on the Homebuyer's Tax Credit expansion or any other real estate related question, please contact me at 402.310.0409 or

Jason Korn
The Korn Team
RE/MAX Real Estate Concepts

Tuesday, November 3, 2009

First Time Home Buyer Tax Credit Extension???

Undoubtedly the Lincoln, Nebraska real estate market has been the beneficiary, like many other markets, of the 2009 First Time Home Buyer $8,000 Tax Credit. However, as you may or many not be aware, this tax credit does expired as of November 30, 2009. There has been an outcry from different groups to extend this tax credit as well as make some revisions to it to allow even those who are not first time buyers the chance to claim the tax credit. Although there has been no official extension, word from Washington is that they are very close to passing an extension with the following changes:

1. Tax credit will be extended until June 30, 2010
2. The property must be under contract by April 30, 2010
3. Those who are not first time buyers may qualify for a $6,800 tax credit.

Again, this has not yet passed fully through Washington but, looks likely. I will of course update my blog with my information as it becomes available.

Monday, October 12, 2009

Lincoln, NE September Real Estate Market Update...

Well according to the Lincoln, NE MLS the following is your real estate market update for residential homes in Lincoln, NE from Sep 1,2009 - Sep 30, 2009:

Sold homes: 300
Avg Sale $ - $143,900
Avg Days on Market - 61 days

In comparing these numbers to last years sold number for the month of September, the number of sales are up by about 60 sales but the avg sale price is about $17,000 less in Sept 2009 compared to Sept 2008.

Why is this? I personally believe it is because of the $8,000 first time home buyer tax credit. The higher priced homes who are less likely to be purchsed by first time buyers are moving at slower rate while the homes under $160,000 are moving at a much higher rate. Which could be cause for the lower avg sales price yet increase in number of sales.

By the way, there is still time to get your $8,000!!! However to be safe, you should have a home under contract by the end of this week.

Call us at 402.436.3379 or email me at and a member of The Korn Team will help you find your dream home at a great price and just in time to get your $8,000!

Jason Korn
The Korn Team

Tuesday, September 29, 2009

How to Cut Your FHA Mortgage Payment Down

For those of you who have an FHA mortgage loan that is higher than today's current rates, you may be able to lower your monthly payment by using FHA's Streamline program. Even if you currently owe more on your home than it is worth, you still can qualify for this refinance that the government is now offering.

The Streamline program is also offering a no appraisal, no income verification refinance loan! This is a great option for those of you who currently have an FHA mortgage with higher rates and are struggling to make your monthly payment or for those who would just like to save a little money each month on the payment.

For more information on the FHA Streamline program and to see if you qualify, call The Korn Team (Lincoln, NE) and we will be happy to put you in contact with a specialist in FHA lending.

Jason Korn
The Korn Team
Lincoln, NE

Tuesday, September 15, 2009

Time is Running Out for $8,000 Tax Credit!!!

The Lincoln, NE real estate market has undoubtedly been affected by the First Time Home Buyer Tax Credit... in a good way! Not unlike other markets. In fact, in homes priced $160,000 and below, we have noticed a surge in the number of sales and a decline in the number of days on the market for those homes.

HOWEVER... time is running out!!! All first time buyers need to close by the 30th of November at midnight in order to qualify for the $8,000. That means that to be on the safe side of making that deadline, the home must be under contract by Oct 15th.

To get your dream home at a great price and in time to take advantage of the $8,000 tax credit, call us TODAY! 402.436.3379 or email us at

Jason Korn
The Korn Team

Monday, August 31, 2009


I am sure all of you have heard about the increasing amount of foreclosed homes entering the real estate market in Lincoln, NE. So what does this mean for all of here in Lincoln?

Well for buyers it means there are a lot of "great deals" to be had out there! Many of these foreclosed homes can be purchased a price far less than the fair market value. However beware... some of these homes do need a lot of T.L.C. to get back into shape. You may or may not want to get into that sort of situation. There are still some real gems out there though. If you are interested in finding one of those great deals, contact us today for our weekly foreclosure "best buy" list!

For those of you who are unfortunate enough to be facing foreclosure, don't lose hope. You do have options. There are several options in fact such as the making home affordable programs that the government has developed to help families facing foreclosure in these tough economic times. There are several other options as well which would best be explained by a real estate professional. So please contact me if you are in a similar situation so that we can help you avoid a foreclosure on your record.

Jason Korn
The Korn Team
Your Real Estate Consultants... for LIFE!

Friday, August 28, 2009

Lincoln, NE Real Estate Update

Well, it's time for another Lincoln, NE real estate market update from The Korn Team! According to the Lincoln Multiple Listing Service here are the current numbers of homes sold to date as well as homes currently listed:

Currently listed residential homes in Lincoln, NE: 1,424
Sold residential homes in to date in Lincoln, NE: 2,106

What we've noticed this year is that the time homes are setting on the market has been much shorter (in most price ranges) than this time last year. Which is great news for Lincoln! Particularly homes $250,000 and below are moving quicker. Unfortunately, homes over $250,000 are actually sitting on the market longer than this time last year.

Point is, the market is definitely making a come back in Lincoln, NE and we are all glad to see that!

For more information about the Lincoln, NE real estate market or how you can get the home of your dreams for a great price, contact me at 402.436.3379 or

Jason Korn
The Korn Team

Thursday, August 27, 2009

Lincoln is Ranked #2 on Forbes list...

Lincoln, NE was ranked #2 recently by Forbes Magazine in regardst to U.S. cities who have recovered the most from from the real estate decline. True, we did not take the hit that many cities did but, nonetheless, what a great piece of positive news! This is largely due in part to the resurgance of home sales in the $160,000 and below price range.


You guessed it... the $8,000 first time home buyer tax-credit! Anyone who is thinking about selling their home (in this price range) contact me RIGHT AWAY! This is your golden opportunity to get your home sold quickly & for top dollar with the right mix of aggressive marketing and competitive pricing!

Time is running out for first time home buyers in Lincoln, NE to take advantage of the $8,0000 tax-credit so call me today for a FREE market analysis of your home!

Jason Korn
The Korn Team

Friday, March 27, 2009

Aggressive Marketing is our Fortay!

So what do I mean when I say that The Korn Team aggressively markets homes in Lincoln, NE?

Well, I mean a lot of things and I could go into all of them but, this blog would get entirely too long. Over time I will discuss our aggressive marketing plan. For now I would like to focus on one activity that I did today for all of my home sellers... REVERSE PROSPECTING!

What is reverse prospecting?

I take all of our current listings and pull up any saved buyer searches (that other agents have set up for their clients) in our MLS that match our listing. Then I simply email each of those agents to let them know that we a listing that matches their buyer's needs. I then ask them to take their buyers through out listing and let us know what they think.

Its simple. Its easy. Best of all, it IS aggressive marketing!

For more information on how The Korn Team can get your home sold in the shortest amount of time and for top dollar, you can contact us at or (402) 436-3379 or

Jason Korn
The Korn Team
Lincoln, Ne

Friday, March 13, 2009

We're in a Price War and Beauty Pagent!

"We're in a Price War and Beauty Pagent!"

Have you ever heard that saying? Well it couldn't be more true right now in the Lincoln, Nebraska real estate market! Basically, it means that your home MUST be priced right and look pleasing to the eye both internally and externally. I cannot stress how important these two elements are in getting your home sold quickly and for top dollar. Yes, this is true in any market but it is even more true in our current market. These two elements along with an aggressive marketing plan like The Korn Team offers will ensure that your home gets sold!

If you would like to know more about the current real estate market in Lincoln, Nebraska or you would like to know more about getting your home ready to sell, please contact The Korn Team (402)436-3379 or visit our website

Jason Korn
The Korn Team
Lincoln, Nebraska

Wednesday, March 11, 2009

Shouldn't I list my home for $10,000 more than what it will sell for so that I have negotiating room?

I was in a listing consultation the other day and the seller asked me a questions that I commonly hear from home sellers...

"Well shouldn't I list my home for $10,000 more that what it should sell for so that I have room to negotiate with buyers?"

Doesn't that seem like logical thinking? I mean no one ever offers you full price for your home, right? WRONG!!! In fact, pricing your home above the market, especially in a flat real estate market that we are experiencing right now in Lincoln, Nebraska, can actually cost you more money in the long run.

You see, if your home should sell around $100,000 and you price it at $110,000 then the buyers for your home will never even see your home. Why? Becuase you have priced it out of their reach. They are not even looking at homes up to that price point. Secondly, the people who are looking in the price range will recognize that your home is not worth the amount you are asking. Therefore, they will not be willing to even make you an offer! This not only causes your home to stay on the market longer than if it were priced correctly, it also means that you must play catch up with the market. What do I mean by playing catch up? Many buyers will assume that since your home has been on the market longer than the average, that there "must" be something wrong with your home. Being on the market longer also means that you will in all probability end up selling your home for lessor value than you would have had it been priced to sell from the get go.

In other words, in order to receive top dollar for your home in the shortest amount of time (in any real estate market) you must price your home to sell! Give the buyers that "fear of loss" which will make them feel like they MUST put in an offer on your home or they will end up losing out.

There are a lot of things that go into being successful at selling a home but pricing is a major factor. If you want to learn more about what it takes to get top dollar for your home in the shortest amount of time in our current real estate market in Lincoln, Nebraska, Contact The Korn Team. (402) 436-3379 0r go to our website

Jason Korn
The Korn Team