Archives for the month of: November2014

To close out our seven series blog session, it is important that buyers understand that Realtors® are on their side. With the knowledge, experience and connections that your Realtor® has, they can make your home buying process so much better. If you are falling into this series late, just click here for our first home buying myth busting article.

Myth #7: Buying real estate guarantees appreciation…

A buyer used to be able to purchase a home and plan to live there for 30 years and pay off their mortgage. This turned into a great investment for that buyer because the home appreciated. Today, buyers are shopping in a different world.

With all the access to information and the use of technology, people just don’t stay in one home as long as they used to. Also, people are waiting longer to settle down and get married, therefore owning one or two homes before staying in one spot.

If a buyer cannot commit a minimum of 5 years when buying a home, it may be more beneficial to rent until they are ready to settle down. It is important to remember that making this purchase is buying a home first and an investment second. Buying a home does not guarantee appreciation.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

In the real estate business we are competitive and sitting on the sidelines is not listed in our expert strategies. Much like myth number 6. If you still believe that a loan can’t compete with a cash buyer you are simply benching yourself.

Myth #6: A buyer with a loan can’t compete with a cash buyer…

Before making an offer on a house, a buyer should have their mortgage pre-approval and finances ready to go. This way, the buyer can offer a shorter window of approval and making an offer before a cash buyer has a chance.

Cash buyers have the upper hand when it comes to eliminating some of the risk of loan approval for the seller, but cash buyers are usually expecting a discount. In that case, a buyer with a loan could counter and offer to pay more. No, not over-pay; simply pay market price, which the cash buyer won’t often do, and therefore securing the property.

Most importantly, people do business with people. When a seller is faced with two similar offers, the buyer who really wants to make that house a home and have a clean solid offer could beat out an all-cash investor.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

As we all know, most things about traditional home buying have gone out the window. This includes what we all know as a down payment. Traditionally, homebuyers took a 30-year-fixed loan and put 20 percent down and that just is not the case anymore.

Myth #5: A buyer must put down 20 percent to get a loan…

This rule has become a myth over the years, it was originally true. Times have changed and with that, home values have increased and new loan products have been created. Today, instead of putting a full 20 percent down, the FHA loans allow as little as 3 percent down. These types of loans are somewhat more difficult to obtain but are available to borrowers with strong credit and income.

Of course, buyers should always double check that their rate and payment is manageable in the long run. If you ask your Realtor® they can refer you to a home loan expert to explore different loan options, such as Premier Mortgage Lending.

Premier Mortgage Lending is known as Nevada’s Local Low Price Leader in home loan financing offering no fees and low rates. As a private lender, Premier Mortgage Lending saves you thousands in closing costs and finds the loan program the best meets the buyer’s needs.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

When buying a home, it is a rollercoaster of emotions for the seller, buyer and real estate agents! One of the most difficult steps is agreeing on a price. Most buyers will try to “shake” down the sellers and more sellers will try to “strong arm” the buyers, leaving it up to the Realtor® to rightfully negotiate.

Myth #4: Always leave room for negotiation after inspections…

This myth pretty much explains that a buyer should leave room to negotiate after the property is inspected, right? Wrong! Doing this could ultimately NOT turn out in the buyers favor.

Many sellers in today’s market will better their home before actually listing the property. The leaky roof, the broken floorboards, etc. will usually be fixed before a buyer makes an offer. When a buyer plans to negotiate price after the inspection and it comes out flawless, the buyer is in trouble! A seller with a great home and clean inspection is not likely to negotiate again and will not take the buyer seriously.

Realtors® should advise buyers to be comfortable and happy with the price offered. In some cases, the inspection will have its faults and some credit might come back to the buyer, but that is not something to count on. It simply wastes time.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!