About the Omaha, Nebraska Area Location
Omaha, Nebraska's largest population center, is located on the western bank of the Missouri River, which serves as the Nebraska-Iowa boundary. History
The city of Omaha was established in 1854. The name "Omaha", according to Indian legend, literally means "above all others upon a stream". The new city grew rapidly after 1863 when President Lincoln located the eastern terminus of the first transcontinental railroad in Omaha. Climate
Omaha has a typically continental climate with relatively warm summers and cold dry winters. Most precipitation occurs from April through September in the form of showers or thunderstorms in the evening hours. | • | Average Annual Rainfall - 29.9 inches
| | • | Average Annual Snowfall - 29.9 inches
| | • | Elevation - 977 feet above sea level |
Population
Metro Omaha encompasses five counties - Cass, Douglas, Sarpy and Washington Counties in Nebraska and Pottawattamie County in Iowa. The metro Omaha area comprises 2,467 square miles. The five-county metro Omaha area has a population of 693,900. The Omaha metro area is the 61st largest metropolitan statistical area (MSA) in the country. The city of Omaha, located in Douglas County, has a population of 367,379 and ranks as the nation's 45th largest city. Over one million people live within a 50-mile radius of Omaha.  |  | | Old Market District | |
Economy
The number of jobs in the metro Omaha area averaged over 415,000 in 1999. From 1990 through 1999, the Omaha metro area added over 84,900 jobs, an increase of over 25%. A well-diversified economy has kept the area's annual unemployment rate well under the nation's throughout the past decade. Transportation
Omaha's Eppley Airfield is served by twelve major and three regional air carriers. These carriers provide over 180 flights daily. Taxes
No sales tax on food sold in grocery stores or on prescription drugs. No state property tax. Local real estate taxes are based on 100 percent of valuation with levels ranging from $1.36606 to $2.18456 per $100 of assessed value, depending on the location of the property. Automobiles, campers, trailers and boats are subject to personal property tax in Nebraska. 
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 Cost of Living
Omaha's cost of living is approximately 6% below the U.S. average. The median cost of housing in Omaha is $110,000 compared to the U.S. median of $141,000. Culture
Omaha is home to the nation's third largest children's theater - the Omaha Theater Company for Young People. The Omaha Community Playhouse is the largest community theater in the nation.
 | | | The Henry Doorly Zoo | |
Recreation and Sports The Henry Doorly Zoo is home to a world-class aquarium, an enclosed rain forest and IMAX theater. The Lied Jungle has been ranked as the best U.S. zoo exhibit in "The Zoo Book". The zoo's new Wildlife Safari Park near Ashland opened in 1998. The City of Omaha has 8,000 acres of parkland in 247 parks. A total of 45 public and private golf courses. Eight state parks within 50-mile radius of Omaha.
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Financing Your Home >Owner Financing
If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.
Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.
Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.
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| Q |
Which house over 100 years old still holds the title as the largest house in the U.S.?
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| A |
The 250-room Biltmore House in Asheville, NC, built 1890-1895 at a cost of $4.4 million, is the largest house in the US. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERT™ 
