Archives for the month of: September2015

23 Things To Do This Fall In And Around Las Vegas

Posted by New Home Resource on September 28, 2015 in

Just a few of the pumpkin carvings by Las Vegas local, Bryan Yeager of Killer Pumpkins. Catch his talents at the Summerlin Festival of the Arts, October 11-12 at Downtown Summerlin.

Autumn is upon us, and with it comes great weather and all the fun of getting back outdoors again in Las Vegas. From festivals and fairs, to pumpkin patches and plays – there’s probably a million things to do around Southern Nevada this fall.

Unfortunately, we can’t list ALL of them here. But we have cherry, er, pumpkin-picked some of the highlights below. So start penciling these into your schedule and go have some fun with the family! (Besides, it will start getting you ready for the upcoming holiday season, too.)

Sept. 18-Nov. 27 – Bellagio – Bellagio Botanical Gardens – All dressed up for fall, a must-see.

Sept. 22-Oct. 18 – The Smith Center – The Book of Mormon – Back by popular demand.

Thru Oct. 31 – Las Vegas – Gilcrease Orchard – Open Tues/Thurs/Sat/Sun. A Las Vegas family favorite.

Oct. 1-31 – Las Vegas – Pumpkin Patch at McKee Ranch – Farm fun, animals, hay rides, & pumpkins!

Oct. 1-4 – Downtown – Las Vegas BikeFest 2015 – It’s the 15th anniversary!

Oct. 3 – Las Vegas – Hallo-Wiener – 12th Annual -if you’re a wiener dog fan, this is the place!

Oct. 3-4 – Boulder City – Art in the Park – 53rd annual, it’s a Southern Nevada tradition!

Oct. 3-5 – Henderson – St. Francis of Assisi Parish Festival – Carnival, contests, foods, music, and the blessing of the animals ceremony (for all you pet-lovers!)

Oct. 8-31 – Red Rock Canyon – Bonnie Screams -Haunted house, Zombie hunts, Spook walks and more.

Oct. 9-11 – Sunset Park – The Renaissance Festival – The Age of Chivalry returns!

Oct. 10 – Lake Las Vegas – Rose Regatta Dragon Boat Festival – Paddle for a purpose!

Oct. 10 – Moapa River – Rise Festival – Help to fill the night sky above the Moapa River Indian Reservation with paper lanterns and send your message skyward.

Oct. 10-11 – Downtown Summerlin – Festival of Arts – Music, food, entertainment, vendors.

Oct. 16-31 – Las Vegas Farm – The Farm Festival – Fun, educational, and getting back to nature

Oct. 17 – Southern Highlands – Southern Highlands Fall Festival – Games, vendors, contests, crafts, raffles, and a free Pumpkin Patch!

Oct. 17 – Mountain’s Edge – Family Fur & Fun Festival – This one’s good for you AND your pets!

Oct. 17 – MGM – Jimmy Buffett – Who doesn’t love a great Parrothead?

Oct. 23-24 – Logandale – Logandale Fall Festival – Bluegrass music, bbq cookoff, vendors and more.

Nov. 6-8 – Cashman Center – The Craft Festival – Rated one of the top 20 craft fairs in the U.S.

Nov. 18-19 – Las Vegas – 27th Annual Festival of Trees and Lights – To Benefit DSOSM.

Dec. 3-12 – Thomas & Mack Center – National Finals Rodeo – If you’re lucky enough to get tickets!

Dec. 6 – Las Vegas – Nevada International Film Festival – Orleans Hotel.

Dec. 10-14 – Summerlin South – A Holiday To Remember – Entertainment, vendors, holiday fun.

If that list of events doesn’t get your fall fun calendar in order, then we’d have to say that you’re just not trying to get in the spirit. Now – go forth, and enjoy!

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly-built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

Home Ownership Isn’t Always About The Money

Posted by New Home Resource on September 21, 2015 in

We’ve written before about many of the financial reasons that owning a home makes good sense (especially right now – with interest rates so low and rents so high). And you’ve probably seen many other headlines and articles explaining the monetary benefits that you gain when you buy a home, too.

But let’s set the money aside for a bit, and talk about the psychological aspect of being a homeowner. Because while saving money each month and building long-term equity in a property is certainly important for your future, there are few of us that get that “warm and fuzzy” feeling from our financial statements.

Ahhh…..but memories, that’s another story, isn’t it? Everyone has those – whether they’re happy or sad, they’re the things we cherish, or that spur us to achieve. In essence, they’ve made us what we are today – it’s just human nature. Those memories are formed by the people in our lives, things that have happened to us, and how we shaped our environment. And those three things are precisely what we’re referring to.

Relationships

There is a great sense of belonging to a community once you own a home. You feel more attached to the city and its people, and often even get involved with neighborhood and community events. When you’re a homeowner, you’ve put down roots – and you’ve done it in the midst of many other people with the same mindset. Your neighbors become your friends, sometimes even your family (or at least they seem that close). You form relationships that can last for years – even a lifetime. And as true as that is for adults, it’s even more important for children.

In a home of their own, kids have the security of knowing that “home” means just that. It belongs to them, and they don’t have to worry about suddenly having to change schools and reestablish their friends and lives at the whim of a landlord. They’re able to develop long-term friendships – indeed, they wouldn’t even need to think about them any differently. They get to know your neighbors, who will often watch out for their welfare, too. Studies also indicate better school performance and youth behaviors in children who live in a home of their own – in addition to greater self-esteem.

Research has long proven that people who have healthy relationships with others are happier and less stressed. Owning a home is one of the best ways to give yourself and your family the gift of building those friendships.

Freedom

One of the most overlooked reasons for owning a home is the freedom you get once you’ve achieved this major life goal. Many homebuyers discover that once they buy a home, other aspects of their personal life seem to just fall into place. It’s a huge accomplishment, and because of that, it gives people more confidence in themselves and allows them to pursue other goals in life.

On top of that, there are some incredible perks that come with the term “homeowner.” Just think about it: Your space is yours to do what you please. Indulge your passions with renovations (no reason you can’t have the greatest kitchen in the neighborhood!), paint, plant, and decorate to your heart’s desire. You can choose to make your home the gathering place for your friends and family by installing a pool and landscaping a back yard to die for – or put up holiday decorations that rival the White House display.

No more white walls and beige carpet (not to mention really ugly vinyl!). And no one but yourself to grant permission to enhance your environment (except maybe an HOA). This is your space. Make it beautiful, make it useful, make it playful – it’s all up to you.

Security

Owning a home is like a touchstone, it’s a way of anchoring your life to firm ground. It creates a solid base from which you can go forth in the world to accomplish many things, whether that includes raising a family or starting a business – or following a dream.

Other proven benefits of the positive impact of ownership is that it allows access to neighborhoods with better schools, and to better physical and social conditions. Single-family homes also tend to be maintained at a higher quality, have lower crime rates, and homeowners enjoy a heightened sense of personal accomplishment and social status. All of these elements together combine to lead to greater life satisfaction, resulting in better physical and psychological health.

Given these reasons alone, it’s no wonder that owning a home has always been “The American Dream.” When you combine them with the financial security home ownership offers, too – there’s no reason that dream needs to change, if you ask us.

HONESTY IS CRITICAL ON SELLERS REAL PROPERTY DISCLOSURE (SRPD) FORM

Posted by New Home Resource on September 14, 2015 in

Remember how you used to cringe for those people you’d see on television – as you watched Mike Wallace walk up to them with a cameraman in tow? It was everyone’s worst nightmare, because it meant some piece of information that they’d rather had stayed long buried was now front page news.

That’s pretty much the way sellers feel when their buyers discover that perhaps they weren’t completely forthcoming in the information provided on the Sellers Real Property Disclosure (SRPD). Because that’s usually about the time the buyer files a lawsuit against the seller, too. (Enter: Mike Wallace-like sinking feeling.)

Anyone Have A Pen?

Anyone who has bought or sold a home before knows that if this is going to become a digital world, it hasn’t happened yet. Piles of papers require signatures from both buyers and sellers – from contracts and disclosures to releases and quitclaims. It’s not uncommon for each party to have hundreds of pages of documents to read, complete, acknowledge, or sign.

But in that crush of documents, there’s one in particular that requires specific information that is often available from only one party: The Seller. And that is the Sellers Real Property Disclosure. It’s perhaps one of the most informative and relied-upon documents out of the bunch – because real estate agents and potential buyers will be reviewing it carefully as part of the offer process.

What Is A Sellers Real Property Disclosure?

Simply put, this is the seller’s chance to lay out anything that can negatively affect the value, usefulness or enjoyment of the property. The latest version of your state’s SRPD form is normally provided by your real estate professional, and typically requires you to answer a set of specific questions – in detail – about the condition of the home and its components. It’s the seller’s obligation to disclose these kinds of issues, and the buyer’s responsibility to be completely aware of past problems. While the types of disclosures required will vary from state to state with regard to the information that must be shared with a buyer, they can also perform another very critical function: SRPD’s can protect the sellers from future legal action.

What Potential Buyers Will Look For

As an example: It’s standard practice in real estate to give a home a fresh coat of paint before putting it on the market. Nine out of 10 times, the intention is to show the property at its best. But every so often, the seller paints the house in hopes of covering something up – such as a water leak. In reality, anything from a leaky window to loose siding, or remodeling to pets living in the home – all these things and more need to be honestly and thoroughly answered in full on the SRPD form.

Fortunately, having the latest version of these forms available to complete will help jog your memory, because the questions asked are quite specific and will cover any mechanical or cosmetic issues that have proven to be a legal problem for other transactions (generally discovered by previous lawsuits).

Unfortunately, in some cases sellers will breeze through the SRPD quickly and without giving it much thought (remember that pile ‘o paperwork we mentioned?) – and perhaps unintentionally forget to note that the air conditioning required repairs 6 months ago, or that some roof tiles were replaced after a storm a few years back. After all – there was a problem, it was fixed, so not it’s not a problem anymore, right?

Wrong. While in theory that concept may work, if a problem should occur again with any such items after a new buyer takes occupancy, there is the potential for liability on the seller’s part because they failed to make full disclosure to the buyer about its history.

What Happens If A Seller Fails To Disclose?

Remember what we said about Mike Wallace? It’s sort of like that. Because once an issue arises and the buyer discovers that they weren’t given full disclosure – the party begins. The problem is that the only ones invited to this party are buyers, sellers, real estate agents, inspectors, attorneys, mediators, and judges. And everyone discovers that no one seems to like each other very much.

Plus – it costs money. A LOT of money. All those professionals getting involved and all the repairs and inspections necessary – they’re not free. At the end of it all, if a judge determines that the seller was at fault for failing to provide information to a buyer about a pre-existing condition, it’s more than likely all going to come out of the seller’s pocket. From court costs and expenses, to repairs and even punitive damages – and it can amount to a very pretty penny.

In some cases, sellers do decide to deliberately omit information from an SRPD (completely against the advice of their real estate professional, by the way) – perhaps thinking that it’s been resolved, it won’t be discovered, or it can potentially be blamed on another source by the time it is found.

For those sellers who might be thinking along these lines, we have just one word for you: Neighbors. The same ones who may have helped or commiserated with you over a costly repair or problem . . . are now going to be living right there with your new buyers on the same street. Let’s just say – it’s a gamble that’s not worth taking.

In short, full disclosure up front is the only way go to. In some ways, it can actually help a seller, in fact. It shows that the seller is thorough and upfront, and that goes a long way toward giving potential buyers peace of mind.

Buy or Rent? And How Should You Decide?

Posted by New Home Resource on September 9, 2015 in

It’s the rare individual who gets to leave their parents’ home and head straight into buying a place of their own. Most of the time, we’re in a hurry to declare our independence – and we see the biggest part of that as having a space to call our own (even if it is rented).

In a way, that’s a good thing. Because it gives us the opportunity to fully experience one end of the spectrum (renting). But on the other hand, it means that we don’t necessarily know much about the pros and cons of owning our own home. So we’d like to help lay out some of the more important reasons why you might – and might not – want to jump into homeownership with both feet.

Rent vs. Buy

Why to Buy? Here in Las Vegas, it’s been shown that renting can actually cost twice as much as owning. Got that? Twice as much. Ouch. So whether your budget is stretched by your current costs of renting or you want to get more square foot for your dollar, those who qualify for a mortgage loan (and there are more of you than you might think!) – should give some serious thought to making that investment in themselves and starting to build equity in a property, rather than contributing to their landlord’s coffers.

Why to Rent? If you’re not sure about where you’re going to be for the next five years (as a general rule of thumb) – then renting may be your smarter option. Those who may relocate for work or other purposes may not fare as well financially when you consider the costs involved with home and mortgage loan acquisitions, moving expenses, repairs that may be needed, etc. Having the freedom to move quickly for an important job opportunity can also play a deciding factor in the trajectory of your career. So if that’s a possibility – and you can’t afford to maintain two households for a short period of time while your current home sells – that’s another mark in the “reason to rent” column.

Financial Benefits

Why to Buy? In addition to paying less out of pocket per month for your monthly payment on a mortgage, you also have the assurance of knowing that your monthly mortgage payment stays the same – unlike rent payments that can climb regularly. (Unless you’ve opted for an Adjustable Rate Mortgage). There are also the benefits of tax write-offs. Your mortgage loan expense is deductible, and certain repairs or upgrades may carry tax benefits for saving energy resources.

Why to Rent? More flexibility, less responsibility. If you’re a renter and experience a life-changing circumstance – you’re able to adapt more quickly and relocate to fit your financial situation (as opposed to waiting to sell your home). When something goes wrong with the plumbing or the air conditioning, there’s no landlord to call and that (usually unexpected) expense is your burden. And if you’re focused on another financial goal entirely – starting your own business? planning to travel? or one of a million other reasons – then sinking money into a property may be pretty far down on your list of things to do.

The Psychological Aspect

Why to Buy? There is something reassuring about knowing you will always have a place to call “home.” The psychological impact of knowing when you lay your head down at night you’re in a place that belongs to you simply cannot be overstated. There’s no uncertainty of wondering if your landlord is going to sell, renew your lease, or raise the rent. For many – having the ability to paint, decorate, remodel, and make additions or improvements the way you want them is key. For some, it could be as simple as having your own garage or driveway to park your car. And if you’re a pet-lover – well, you know that owning has it all over renting in that department!

Why to Rent? Many people feel that those same reasons to buy are more of a commitment than they want to make. So if that worries you financially (or any other way), there’s definitely something to be said for renting and letting others carry the burden for you (aka, your landlord). If you’re still exploring career options or don’t know where you want to settle down yet, those are more reasons to delay buying a home of your own. “Freedom” is a powerful word, and everyone has their own definition of what it means.

Of course, these are just the tip of the iceberg, and there are generally as many reasons to buy – or not buy – as there are individuals exploring their options. The good thing is that for those who choose the security of a place to call a home of their own, the local real estate market is stable, interest rates are still low, and obtaining a mortgage has become easier and far more understandable than ever before.

Premier Mortgage Lending is one local Las Vegas mortgage broker that offers a variety of products – from true “No Fee” traditional loans, to second-chance financing (AnotherChanceNevada.com) that can help buyers get back into their own home as early as one day after a short sale or foreclosure. Plus, they make it easy to get started and see if you qualify with their secure online application process.

Still not sure where your chips fall on the “Buy or Own?” question? We’ll be happy to help you explore your options further. Just give us a call!