Archives for the month of: May2017

Earlier this year, the list of the 20 Top Selling Master Planned Communities for 2016 was released by research firm RCLCO, and to no one’s surprise, two extraordinary Las Vegas area master planned communities were included on that list – and you don’t even have to go past #7 to find them.

Clocking in at the #5 position is Summerlin, and at #7 is Inspirada. (Woo-hoo, Las Vegas and Henderson!) Plus, Mountain’s Edge, Providence, and Cadence also made the list of the Top 50 Master Planned Communities. That’s pretty solid proof that the real estate market in Las Vegas is recovering well from the Great Recession – (something we’ve known for some time). Considering the popularity of these areas, it occurred to us that if you’re just thinking about moving to the Las Vegas valley, perhaps a primer in a few of the successful master plans might come in helpful! Remember, this list is by no means exhaustively complete – because Las Vegas continues to grow and attract new residents from all over the country – but it can come in helpful to give you a sense of the ‘lay of the land’ to get your in-person home search under way soon.

Summerlin

Located along the western rim of the valley at the edge of Spring Mountain and Red Rock, Summerlin is the largest master planned community in Las Vegas – covering 22,500 acres. More than 100,000 people live there – which is about 5 percent of Clark County’s total population. Well-known for its thoughtful neighborhoods, beautifully landscaped avenues, and numerous parks, community centers, and hiking and biking trails – Summerlin lies at the higher end of the Las Vegas elevation with many homes offering picturesque views of both city skyline and nearby mountains – capped by the close proximity of Red Rock Canyon National Conservation Area. Many of Las Vegas’ finest homebuilders offer new communities in the various villages at Summerlin, where buyers can find both production and custom homes to choose from. Summerlin itself began selling homes in 1990, so the resale opportunities in this area are immense.

Inspirada

This 1,900-acre project is located in the heart of Henderson (which Bloomberg Businessweek ranked as one of America’s 50 Best Cities – and named America’s Second Safest City by Forbes Magazine in 2011). Situated on the southern edge of the valley, it’s among the top-selling master planned communities nationally, as we mentioned – with builders closing 564 new-home sales in Inspirada last year, up 45 percent from 2015. Nationally recognized homebuilders in this master plan include Beazer Homes, Century Communities, KB Homes, Pardee Homes, and Toll Brothers. Inspirada’s park system is one of the defining features here – with four already built and 85 acres of parks and trails planned. Community events are varied and inviting to residents of all ages, and homes range from approximately 1,500 to over 4,500 – priced from the $200s to the $400s.

Mountain’s Edge

Located in the southwest part of the valley, this 3,500-acre master planned community calls for 14,500 homes in more than 22 neighborhoods that will include multiple schools, stores, office space, and shopping centers. Builders include D.R. Horton, Woodside, Beazer, Pardee, Discover, Lennar, Toll Brothers, KB Homes and many others. Mountain’s Edge features hundreds of acres of land devoted to open spaces, parks, and trail systems. It was developed as the region’s first drought-tolerant community, estimated to save over 200 million gallons of water annually vs. traditional grass sod landscaping. Close to both the city and stunning mountainscapes and featuring an active community event calendar, Mountain’s Edge began in 2004 and was the #1 selling Las Vegas community from its opening through 2008. Both new and resale homes are available at Mountain’s Edge to explore.

Providence

Found in the northwest Las Vegas valley, Providence is a 1,200-acre master planned community that will ultimately include about 7,500 single and multifamily homes in 39 different neighborhoods. Located near schools, shopping, dining and the 215 Beltway/U.S. Highway 95 access. In addition to being in close proximity to both Nellis and Creech Air Force Bases, Providence attracted new-home builders KB Homes, Lennar, Pardee, Richmond American, Ryland, Warmington Residential, Woodside and Summit Homes. With acres of neighborhood parks and trail systems, a thriving community center and an active event calendar, Providence has previously ranked in the Top 10 master planned communities in the country. Winding avenues and numerous amenities have made Providence a lovely and peaceful addition to the Las Vegas landscape. Next stop: Mount Charleston!

Cadence

Located near the intersection of Lake Mead Parkway and Boulder Highway in Henderson, Nevada, Cadence is a 2,200-acre master planned community calling for 13,250 homes, over one million square feet of commercial property, 30 acres of trails, six schools, and a casino resort. Homebuilders include Richmond American, Lennar, Ryland, Woodside, and more. Schools, shops and restaurants are right inside this community – along with parks, pools, and trails – with the 50-acre Central Park a main draw (amphitheater, pickleball, and free wifi anyone?). Add in a bike-share program, and close proximity to Lake Las Vegas and Cowabunga Water Park – and you’ve got the makings for Las Vegas fun any time of year.

Keep in mind that both new and resale homes are available for purchase in all these areas, too. And whichever route you choose for your Las Vegas home, you can rely on the experienced services of the New Home Resource Team to look after your interests and ensure a smooth and seamless transaction.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, 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 provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

realtor

“How hard can it be to hire a realtor?” That’s a good question, but often people don’t give a lot of thought to the answer. And to be honest, it’s not hard to ‘hire’ one – but hiring one who is going to do what is needed to either find or sell a property for you – that’s another story.

Because when it’s all said and done, working with real estate is a business transaction. You may know real estate professionals from your family or social circle, and it seems like they would be the easiest choice to make, right? But unless you know how they operate in business and are comfortable with all their methods, you may want to cast your net a little farther afield. (If only to retain those personal relationships, because nothing will damage a friendship or familial tie faster than a financial transaction gone wrong – in either direction.) Actually – when you think about it – friends are a lot harder to come by than Realtors®. So perhaps keeping business and personal separate is generally a good idea.

It’s Business, Not Personal.

When the time comes to choose a Realtor®, the most important thing to do is make sure you pick someone that you can have a serious, straight-talk business conversation. At some point, this person is going to become very familiar with your entire financial picture – something that can skew a personal relationship uncomfortably. You may agree or disagree on decisions about properties, lender choice, or any number of things in the process; and let’s face it: not every real estate transaction turns out perfectly. If there’s any chance of personal feelings getting in the way of getting the best outcome, you’re probably going to be much happier with a straight business relationship – handled by a professional that has no emotional stake in the final outcome. (Can you hear it? “But if you buy this house, we’ll live on the same street!” Yikes!)

Obviously, you want to choose the most qualified person for your needs (a specialist in your area, a Seller’s or a Buyer’s agent, a relocation specialist, etc.) – and one that you feel will work well with you. So in the big picture, the bottom line is to find an experienced professional who knows your market, acts in an ethical manner, answers all of your questions, addresses your concerns, and listens to you – acting as your teammate – throughout the entire process.

Knowing all that, there are still a few questions that will be helpful for you to ask any potential Realtor® with whom you’re considering working. And the answers to those questions will help you determine if they are the right fit for your needs. Any reputable Realtor® – even those with a long-term business presence and sterling reputation – will understand that working with an informed client is to their benefit, as well. (Meaning, if a real estate agent ‘doesn’t want to be bothered’ with a brief interview, they’re probably not the best choice for you.)

Nine Questions to Ask a Potential Realtor®

Just to get the ball rolling for you, we’d like to provide a brief list of questions you should inquire of a potential Realtor®. Many of these inquiries will lead to other questions that will ultimately help inform your final decision. But in our experience, these are a great place to start!

1. What are the top three things that separate you from your competition?
2. How many years of education and experience do you have as an agent or broker? What percentage of your clients are buyers (vs. sellers)?
3. In which neighborhoods do you primarily work?
4. How many homes have you closed in my chosen area or neighborhood?
5. Will I be working with you directly or handed-off to anyone else other than you? In other words, will you handle all aspects of my transaction or will you delegate some tasks to a sales associate or administrative assistant? (A knowledgeable assistant can be invaluable, but you want to make sure you can connect with your agent regularly.)
6. How many other buyers are you representing now? How many sellers? Hint: the busiest agents often are the most efficient.
7. What would be your marketing plan/strategy for my needs?
8. Will you help me find other professionals? (lenders, appraisers, etc.)
9. What haven’t I asked you that I need to know about you?

Buying or selling a home is a big deal – no matter what anyone tells you. Because it affects so many important areas of your life (where you’ll live, schools your kids will attend, financial well-being, creditworthiness, and much more) – even though real estate transactions happen every day, you can’t take for granted that everyone who hangs out a shingle knows how to do it right. (There’s a reason that some lawyers specialize in Real Estate, you know.) Make sure you take a little extra time up front to find the right, experienced, and knowledgeable agent to help you get it all done. It’s worth it. Trust us.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, 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 provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

homebuyers sold

See that headline? We hear that a lot from homebuyers – and unfortunately, it happens all the time. Especially here in Las Vegas, or in any popular real estate market, really.

Potential homebuyers are out shopping for their next home. They see several in a short span of time, and then that little quirk of human nature kicks in, and they think “I want to see them all before I decide.” Actually, there’s nothing wrong with that attitude. It’s pretty natural. But when you’re spending days, weeks, or months touring homes with your Realtor® – only to discover that the ones you just saw are often sold by the end of the same day – well, that just sort of sucks.

Because while you’re seeing it for the first time – the truth is, the house you looked at today and wanted to think about until tomorrow, is often the house that another homebuyer looked at yesterday and is making an offer on today.

We’ve been there. We see it happen all the time. And while we do our best to help our clients find the home they’re going to love and then be successful in acquiring it…. when demand exceeds supply, it’s just not always possible to take the “see everything and then decide” approach.

The right Realtor®, however, will know this about their market. And if yours hasn’t explained to you how quickly (or slowly) the homes in the area are selling, then you’re not receiving the service you deserve. Staying on top of the facts, figures, and statistics about these things (and a lot more) is part of their job.

Other things your Realtor® should be knowledgeable about include which homes in your preferred area and price range have sold and for how much; if multiple offers were received for them, or they sold for more or less than list price; and homes that may have a chance of being available again if a homebuyer can’t complete the transaction. Of course, much of this information is only going to be available through a Realtor’s® network of agents and other industry professionals – which makes it that much more important for you to make sure you choose the right agent to begin with.

But getting back to the fact that sometimes, homebuyers just can’t take the time they would like to decide on a home – there are ways that you can hedge your bets a little.

For example, you can make a list ahead of time of all the things you would want to know about the area in order to make your decision – like the neighborhood, schools, shopping, parks, etc. That way, when you visit the home, you’ll already know if it makes the ‘short list’ of your most important wants and needs. And if the house itself works (or doesn’t) for you – then you’ll be more comfortable making a rapid decision if it’s necessary.

Also, let your Realtor® know exactly what are your priorities for your new home – so that he/she can keep their eyes (and ears) on alert for the right properties. Is it the size? Age of the home? Number of bedrooms? The area? A certain school district? Everyone has different things that matter the most to them – so don’t expect your Realtor® to be a mind-reader. If there’s anything they didn’t ask about that really matters to you, be sure to bring it up.

The key to being a smart – and successful – homebuyer is to be as informed as possible before you enter the market – and to have the right Realtor® working hard on your behalf. The fact is, you may actually need to make an offer while sitting in the kitchen of the home you just toured, without having a lot of time to think it over. Don’t leave it all up to chance – be prepared, define exactly what you want, have the best agent by your side – and that will increase your odds immensely for making the right choice at the right time.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, 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 provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

owning income property

Do you know the difference between owning income property and being a homeowner? In many cases, the only thing that separates the two is your mindset. That may sound odd, but often it’s simply shifting your outlook from an “I can’t do that” to a “Why not?” frame of mind.

Here in Las Vegas, a lot of people have discovered that owning income property is a possibility, and it’s actually a lot easier to start creating a real estate portfolio than they realized. Often, it begins with making plans to move from their existing home into a new one – and deciding to keep (rather than sell) their current home and rent it out.

Many people may read that last paragraph and reply with “I need the money out of my current home to buy the new one!” In some cases, that may be true. But the truth is, most people automatically make that assumption – without sitting down with a professional to crunch the numbers. Surprisingly to many people, it’s entirely possible that it may actually make more financial sense – for tax or investment reasons – to own income property than to sell that home.

For the most part, we find that many homeowners choose to convert their primary residences into investment properties for one of two reasons.

First, if the housing market is struggling and you’re concerned the home’s value has dropped, you can postpone selling the property, rent it out to pay for the monthly mortgage payments, and then sell it when the value has risen. This was a common occurrence during the financial crisis of 2008 – as many homeowners went this route to stay afloat while the economy got back on its feet.

The second reason is that many choose to take advantage of excellent financing now available at the current low interest rates to purchase their next home, leaving them with the option to turn the original home into a rental and increase their income. This can turn out to be a great opportunity, often with a better return on investment than the stock market. Additionally, if the home was originally purchased as a primary residence, it likely had a low interest rate – and when you transition your home to an investment property, you’ll be able to keep this perk.

Whichever route you choose to start the first of your (hopefully) many rental properties that will bring you additional income over time – be sure to make yourself aware of the responsibilities you bear as a landlord to ensure all the legal requirements are met. And of course, having the assistance of an expert in this area is invaluable – from knowing the state of the current local rental market to the financial obligations and details that must be attended to.

The best way to start off on the right foot in owning income property is to find the right Property Manager to help you be assured that you’re doing it all “right” from the start.

Recently, New Home Resource posted a 4-part series of articles that explain in detail “How a Property Manager Takes Care of Business.” In this series, you’ll find out pretty much everything you need to know about taking care of your rental home – as well as why it’s a good idea to work with an experienced Property Manager; including ways to protect your investment, locating and taking care of tenants, and much more.

So, before you just decide to list that home for sale and move to the next one, give some thought to the fact that this may be your chance to start building a real estate ‘empire’ of your own. One that can not only bring you and your family additional income, but help to improve your financial bottom line for the future, as well. And always remember that the professionals at New Home Resource Property Management are here to help you find your best options to make it happen.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, 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 provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

House Offer Accepted

It’s like winning the lottery, right? You’ve searched and searched, and finally found the house you love. You put in an offer, you hope it’s good enough, you prayed that the seller liked you best . . . and just like that, all your worries disappear! The seller accepted your offer and you’re thrilled! Woo-hoo! And then you think, “So, what do I do now?”

To be honest, you have a gajillion things to do. Okay, maybe not quite a gajillion, but between getting all the steps done to finish your home purchase – and having to pack and move – it may seem like that.

But the good news is, you went into this with an experienced Realtor®, and you have the comfort of knowing this very important thing: Your Realtor™ has your back for everything that comes next. After all, they are the ones who got your offer submitted and accepted!

Just to make sure you have a good idea of the next steps in your journey to becoming the new owner of this perfect home, we’ve got a quick checklist to get you prepared. (Keep in mind, though, that your specific transaction may have additional steps because every home purchase is different.) Many of these things will be automatically handled either by your Realtor™ or your mortgage lender – but it’s wise to be aware of the status of each item during this process. So always feel free to ask questions!

  1. If you haven’t already, shop for your mortgage lender and choose which one you’ll be working with. (Although an experienced Realtor® should have made sure you did this before submitting your offer – just FYI.)
  2. Ensure all the necessary “earnest money deposit” funds are paid into escrow.
  3. Order the home inspection.
  4. Ensure you know which documents and information your mortgage lender needs – and get that to them in a timely manner.
  5. Review the home inspection report with your Realtor™ to discuss the findings and any repairs needed (as well any costs).
  6. The lender will order the appraisal.
  7. Get your closing funds ready, according to the instructions from your lender.
  8. Select your home insurance company.
  9. Schedule your walk-through.
  10. Close escrow at the title company and get your keys!

Of course, in-between all of these steps, you also need to find time to notify your landlord that you’ll be moving, pack, schedule utilities to be turned off and then on again at your new home, change your mailing address and online account addresses – and make sure that someone is going to plan you a nice, big housewarming party! (Okay, that last part is optional, but it sure would be nice, huh?)

During this time of busy transition, you may get a little anxious, perhaps a little stressed, have a lot of questions, or need help finding solutions for some things. That’s part of the process and it happens to everyone. But always remember that your Realtor™ is there to help you and hold your hand through it all.

In fact, we know that’s actually a huge part of our job. Of course, it’s important that you have someone you can rely on that knows all the proper steps to take and the legalities involved – plus make sure that your interests are being looked out for.

Choosing the right Realtor® ensures you’ll have someone on your side who wants you to understand every step of the process, and makes sure that at the finish line, you’re happy with your purchase and with the service they provided to you, too.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, 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 provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!