Posts in category: Home Buying

You bought a home – yay! Oh wait, no – maybe a friend of yours bought a home. Or a family member just moved back to town. Heck – whoever is the one that just moved into a new home or a first home – the point is there are a lot of things they could use to help them take care of it.

So while a bottle of champagne or a houseplant might seem like a nice “Congratulations on your new digs!” gift – let’s get real. That champagne will probably sit in the refrigerator for six months while they wait for the perfect occasion to pop the cork, and the plant – well, okay, it might look nice for a while (unless the recipient suffers from “Black Thumb”).

What these people really need (or if anyone asks what they can get you for your new home) – is the basics. All those little things that you know you reach for as you’re unpacking boxes, only to discover that uh, you don’t have one of those (whatever it was you were looking for). Damn. Back in the box until later. More work. Less done. Not-as-happy-as-you-could-be Homeowner.

We’re here to help solve that. So in our very best Joan Crawford voice, we want you to hear us say this: “No. More. Useless. Housewarming. Gifts. !!!” (you’re probably creeped out just thinking about those hangers right now, but you’ll get over it.)

So here we go, with our “Authoritative Gift List O’ Things People With New Homes Probably Need Or Even If They Already Have It They Can’t Find Theirs Anyway So They’ll Love It Just The Same”:

Essentials

Showing up to visit “The Day Of” moving in? Then think smart. Stop by the grocery store and put together a care package of things they’ll want to kiss you for: Toilet paper, paper towels, hand soap, disposable plates and cutlery, WATER, sodas, coffee, snacks, frozen pizza, a corkscrew (not kidding!), fresh fruit (the kind you can eat with your hands), a loaf of bread, and thou. Well, you get the picture. Hey – they’re your friends; you should have a good idea of what they’d like to chow down on. The point is, when people are in the midst of a move – easy-to-grab-sustenance is one of the most appreciated things you can gift. Go crazy – get the Macadamia nuts and the dried cranberries, too. Oh – and most important, don’t forget the Chocolate!!

Tools

Maybe they have their own, and maybe they don’t. Maybe he’s a maintenance-master, or maybe he hires out his DIY jobs. Either way it doesn’t matter, because the odds are they’re going to be rummaging through boxes and stacking them one on top of the other to find that stupid jar of nails. Or that screwdriver that will let them put their dining table back together, so they can sit down and relax for cryin’ out loud! Want to show them just how thoughtful you are? Allen wrenches. They’ll probably name their next child after you for that. Even if you just head to the Dollar Store to pick up cheap versions of it all – a hammer, a multi-head screwdriver, a level, an extension cord, scissors, PLUMBER’S TAPE (seriously appreciated!) – then just toss them all into a $1 bucket – when you hand that over on your arrival (along with, again, W-A-T-E-R), not only will they never forget you, they’ll probably even pass on this helpful wisdom the next time THEY have to get someone else a housewarming gift. (And perhaps the cycle of crystal vases as move-in gifts will finally end, and move onto the wedding gift list where they belong.)

“You Know They’ll Get Used Eventually” Items

• New Return Address Labels. You can do this one at home. Buy a package of blank Avery labels and use an easy-to-read font – and they’ll bless you every time they have to mail out an envelope. (Or even fill out a form.)
• Eco-friendly collection of cleaning supplies. (We just like to encourage the eco-part whenever we can – but you can get the Clorox and the Tide, too.)
• Fire extinguisher. Sexy, no. Pretty damn useful when you need one? You bet. Something that should be in every home? Absolutely. (Also something that’s usually ‘expired’ by the time they pack up and leave their old home. Trust us, no one’s ever going to complain about having a fresh, new fire extinguisher.)
• Command Hooks, Tape, and Hangers. When you’re just moving in, you might think twice about putting a nail there – how do you know for sure where you’re going to want to put everything? No one doesn’t love Command products (and no, we’re not shilling for 3M, either). The luxury of knowing you’re not damaging a wall by hanging something on it can’t be overstated when you’re just settling in.
• Start Their Junk Drawer for Them. Sounds weird, huh? Well think about it – by the very nature of moving, theirs is history! So pull together some of the crazy things that you have in your own – glue, push pins, stapler, mini screwdriver, nail files, safety pins, batteries, scotch tape, Krazy Glue, duct tape, multi-plug adapter – let your brain go crazy. (Or just look in your junk drawer for ideas!) Come on, you know there’s a reason you kept that single bolt and washer. They may need one, too.

Actually, we could probably go on for pages with brilliant gift ideas, but we’re hoping you get the gist of it . . . which is: MOVING SUCKS. But that’s why we have friends…to make it easier on us all. So skip the crystal department at Macy’s and head to Home Depot and the grocery store instead!

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 just the service you’re looking for. 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, and Kathy Paterniti are all here to help!

As Richard Florida notes in a recent CityLab article, “There are three big decisions we make in life: What we choose to do for a living, who we choose for a life partner, and where we choose to live.”

In all the rush and hurry of living our lives every day, it’s a bit compelling to read a statement like that, let it soak in, and suddenly realize well, yeah – those really are the three most important things (assuming children and pets are lumped in with the “life partner” choice, of course.) So why do we spend so much time worrying about a million-and-one other things – and often doing it at the expense of those three priorities that matter to us the most?

We agree with Florida’s assessment that the most important of those three items may very well be where we choose to live. Your home base is where all your energy, hopes, dreams, and ambitions come to rest every night. In addition, it only makes sense that you’re going to be working nearby and developing relationships with those who share your geographic location.

However, being happy where you live doesn’t simply depend on the house, neighborhood, city, or state you choose, as many people can attest. Many discover, after making multiple moves to places they thought they always wanted to live – that ‘happiness’ isn’t an enforceable clause in the mortgage documents.

Really, though – the ability to enjoy your environment can be affected more by your state of mind than the space you’re occupying. Now, don’t get us wrong – we’re not going all “woo-woo” on you here. (Not that there’s anything wrong with that – because we’ve been known to do it on occasion!) We’re not saying that all you have to do is “think” yourself happy. But we will say that even for those who feel they’re living in the wrong place and their true happiness lies in some distant locale, there are things we can all do to help ourselves invest emotionally in where we are right now.

Some people may call the ability to love where we live a form of “place attachment” – where an emotional bond is created between a person and a place. It’s a concept rooted in environmental psychology, and often displayed when a person chooses a certain city as a destination to live in, based on their personal experience and lifestyle preferences.

But life can lead us in unanticipated directions, as we all know. (John Lennon was right – “Life is what happens to you while you’re busy making other plans.”) So it’s not at all unusual that for many of us, where we’re living at the moment is not our first choice for this point in our life.

Rather than railing against the universe about it, though, it’s far better for us (both mentally and physically) to actively seek out some specific things that we can learn to love about our current place on the planet. By stepping outside your comfort zone (or in this case, your dis-comfort zone) – it’s entirely possible to create new experiences and memories that you consider as plusses or positive aspects and that you can look forward to repeating. (Some things stay pretty much the same from city to city, you know – like yoga, or exercising, or hobbies, etc.)

In doing so, whether those engagements are with individuals, like-minded groups, landscapes, or even spent in solitude – in many cases, by altering our behavior we, in turn, alter our perception of our environment. Or at least a little part of it. That alone can make a huge mental shift in our outlook. Coincidentally (and happily!) – that also makes it a whole lot easier to improve our attitude, our relationships, and even our health.

It’s a fact of human nature that most of us can find both good and bad in things, places, and situations. But it’s our frame of mind that often guides us more toward one direction than the other.

In the same CityLab article, the author of This Is Where You Belong, Melody Warnick concludes that, “My theory is that cities don’t make us happy. We make ourselves happy in our cities. The really good news is that place attachment doesn’t care if you live in the objectively best city on the planet. (Not that one even exists.) Contentment comes from being passionate about where you live, no matter what.”

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 just the service you’re looking for. 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, and Kathy Paterniti are all here to help!

How exciting! You’ve decided to start your search for a home of your own! You’ve looked around at neighborhoods and schools; you know pretty much which part of town you want to live in. You’ve interviewed with different Realtors™ to make sure you’ve found someone who is experienced, familiar with that area, and has a great reputation. You’ve even gotten in touch with a mortgage lender to find out what you can realistically afford – and scored bonus points for getting loan pre-approval!

Your Realtor™ is preparing a list of available homes for you to visit. So now is the time for you to stop and re-assess what, exactly, you’re going to look for.

That may sound silly. You’re probably thinking that certainly by now you’ve put a lot of thought into this and you know what you want in a home. But whether you’re searching to buy a new or used home, you should be aware that some sellers are experts at highlighting the good stuff – and minimizing some things that could be, er, “better.”

Our point is to be prepared by arming yourself with a little knowledge ahead of time. It might even be a good idea to put together a little checklist to refer to as you visit each home. Because you want to make sure you’re not just dazzled by what they want you to see – you want to look closely at the things you know are important to you, and will make your living in that home as comfortable for you as possible.

And you know us – we’re always here for you! So we thought we’d put together a little “cheat sheet” list of some of the things you may want to remind yourself while the ‘dazzling’ is going on. Some things matter more to certain people than others, of course – and certainly, this list is just a start. But we figure it will get you thinking in the right direction. So pick those that matter to you, add some others you have in mind, and then toss the rest.

1. Rooms and alternative spaces. Do you really need 5 bedrooms? Or would 4 bedrooms plus a loft for your home office work? Today’s floorplans are often flexible and multi-purpose in many areas, so view with an open mind, but specific to your needs.

2. Downstairs bed and bath. Is this something you need for frequent guests, or perhaps an elderly relative? Or would you rather discourage the frequent out-of-town guest who uses your home as a free hotel? (Yeah – we’ve all been there. This is Vegas, baby.)

3. Closet space. If your heart is set on having room for your currently overflowing closet, this matters!

4. Low maintenance landscaping. If gardening isn’t your passion, this will make a big difference in how you spend your weekends!

5. The Kitchen. Hardly used? Or your Dream Room? Walk-in pantry? Work island? Counter seating? Picture yourself in this ‘heart of the home’ night after night and make sure it will meet your lifestyle.

6. Electrical Outlets and Wiring. Today’s buyers are wired, wireless, and connected to many different devices. While this might not be a deal-killer, you want to be aware of what’s available to you before you move in so that any changes needed can be budgeted for ahead of time.

7. Yard and fencing. Some people put their pets high on the list of features wanted in a home, and some things are simply non-negotiable. (If you’re one of them, we don’t even need to remind you of this!)

8. Parking. Two or more cars? How does that work with the size of your garage? What about street parking? Do you need to use part of your garage for a workshop? Without considering these things ahead of time, you might end up with a hornet’s nest of a (neighbor) problem after moving in.

9. Insulation. Not just for energy-saving purposes, but can you hear people speaking in the next room? Ooooh. That could get uncomfortable quickly!

10. Water Pressure. For some, this is huge. For others, no biggie. But definitely something to know ahead of time.

11. Neighbors and Traffic Areas. Make sure you take a good look at the surrounding homes, and pay attention to the amount of traffic that the street gets. Best to look at different times of day – daytime, after work, and at night – to make sure you get an accurate image of the total environment.

That’s a start, at least. And your Realtor™ should also be asking important things about whether there currently are any offers, have there been any major repairs (which will be on the Seller’s Disclosure, too), cost of utilities, the Seller’s timeline, etc. Actually, there’s a lot more your agent will be doing on your behalf – but keep in mind, you’re the one who will be living in the home, not your Realtor™. So you know best what you can live with, or not.

For us, the important thing is that you keep your eye on the prize, so when the choice is made and you’re handed the keys, you don’t have any reason to kick yourself because you fell for the “show” they put on while the home was on display. Of course, trading out extra linen space for a fantastic view or a killer back yard is always going to be smart – and your Realtor™ will help you determine the relative value (both emotionally and financially) in a situation like that. We just want you to make sure you’re starting from a point that includes all your “wants” so you’re making that decision yourself (instead of letting them make it for you – when you weren’t paying attention!).

Ready to go shopping now? Let’s get together and Do It!

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, and Kathy Paterniti are all here to help!

When it’s a seller’s market, competition among buyers is just a(n unfortunate) given. It’s great for the owner, of course – but frustrating when one home after another escapes your grasp because another buyer’s offer is accepted over yours.

Maybe that’s why just sometimes, a little out-of-the-box thinking can come in handy. Sure, money talks – but it’s not the only language a seller speaks. And if a buyer can be creative enough, they might just find a way to turn the tide in their favor. Don’t believe us? Here’s a few examples where going off the beaten path made all the difference for these buyers and sellers.

Pizza, Anyone?

As most people know, the real estate market in Portland, Oregon has been hot for a while now. So when Donna DeNicola found the home she wanted to buy last summer, she wasn’t surprised there were four other offers on the table ahead of her. In order to catch a break, her offer was above the asking price, she threw in free rent for the owners, and added one unusual clause: She would provide the seller with a free pizza every month for life. (By the way, Donna just happens to own an Italian Restaurant in Portland.) It ended up being just enough to make the difference for the sellers, because her offer was accepted over all the others.

How Much Is That Doggie In The Window?

Emily Reuter and Kyle Skellchock had spent months searching for a home in Washington, D.C. – and perhaps it was serendipity that led them to fall in love with a home that would bring a happy (and furry) ending to their search, and tremendous peace of mind to their sellers. The owners were selling their D.C. home to move to Florida, and weren’t able to take their dog, Buddy, with them. But as it turns out, Emily and Kyle fell in love with both the home AND Buddy, and when they discovered the seller’s predicament, were more than happy to offer Buddy continued permanent residence in his current home . . . as their new pet. The offer they made for the home was nearly identical to another potential buyer’s – but their willingness to take in Buddy made the difference to the seller. End result: They got the home, and the wagging tail, too.

The point, as we mentioned above, is that it’s not always about the money. As emotional as a home purchase is for the buyers, in many cases it’s even more so for the sellers. They’ve lovingly cared for it through the years and enjoyed many happy and loving memories there. And it’s not that uncommon for a seller to choose an offer (even if it’s the lowest) because they felt a kinship with the new owners-to-be.

We don’t deny that sometimes a little craziness can help convince a seller you’re the best choice. But when you’re starting out on your search for a home, be sure to get all of these ducks in a row first. They’re easy to do, and they give you just that much more of an edge when you might need it the most:

• Use a great Realtor™ and a lender who both have excellent reputations.

• Get your financing in place with a formal pre-approval letter in hand.

• Be prepared to put down a large earnest money deposit.

And when you do find the home you love, it won’t hurt to write a compelling letter to the sellers. Explain what you love about their home, why you want to live there, and perhaps share a bit about yourself. (And then maybe think about throwing a few pizzas into the deal, too!)

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!

Everyone LOVES to get a deal. Maybe it’s just the way we’re wired. (Or maybe it’s the result of a couple hundred years of advertising.) Whatever the reason, there’s a certain thrill when we know we’ve managed to score a hot deal on a plane ticket, or a designer handbag – and goodness knows we’re downright proud of ourselves when we save money on a big-ticket item like an appliance or a car.

So it’s not unusual that when people are shopping around for a new home – which in many cases is the largest investment they’ll ever make – the thought of getting a screaming deal just can’t be beat!

Or can it?

The fact is, if you’re just starting out in life or finally decided to get into the first home of your own – it’s probably going to be “the basics” that matter most. Square footage, location, price – and if you also happen to love it at the same time, then you’re one of the lucky ones! That’s because for most first-time buyers, there’s a trade-off to be made – but as they say in life – “three out of four ain’t bad!”

Then there are those looking to upgrade to a larger and/or more expensive home – or perhaps downgrading now that the kids are gone and they don’t need as much space. These are the homebuyers who have something very important up their sleeves: Experience. The fact is, when it comes to knowing what you like, dislike, love, hate, need, want, must-have, or won’t-ever-deal-with again in a home – nothing beats having “been-there-done-that” (are we right?).

Buying a home is complicated. It’s easy to get overwhelmed and frustrated AND enticed and emotional – during the whole process. That’s one more reason it’s so critical to make sure you choose the right Realtor® to work with.

It begins with the groundwork, of course: Discovering your preferences, determining your purchase and credit abilities, and researching everything on the market that fits into those parameters so you can start your search. But the right Realtor® will also be able to help you look past the barriers that will arise so you can stay focused on finding the home that’s truly going to make you happy.

Let’s just be honest: Shopping for a home is going to take you through the entire range of human emotions. You’ll experience excitement, confusion, fear, anxiousness, anticipation, annoyance, exhaustion – yep, it’s all right there in your journey.

But the goal is to end up as excited with your final selection as you were in the very beginning, because buying a home is a truly awesome experience! And that’s what every New Home Resource agent is committed to – working together with you to find the home that you adore . . . and can’t wait to move into.

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!

In Las Vegas, it’s often a given that the home you buy in a new or established neighborhood is going to include a Home Owners Association (HOA). Yay! Or….not so much? You might have an opinion on that.

One thing that we’ve noticed you rarely see in the headlines, though, are things like “HOA Adds Value to Our Homes” – or “No Trash On Our Streets, Thanks to the HOA!” Nah – most of the reason that an HOA gets into the news is due to complaints, because it’s rare for people to take the time to deliver compliments.

Now, we’re not going to lie and say that we haven’t heard a number of HOA Horror Stories, because we have. But because we deal with the entire Las Vegas real estate market, we also know that their existence is, for the most part, a good thing. Often the reason that HOA’s run into trouble is when reasonable neighborhood residents fail to take an interest in playing a role on the board – and they leave it all to someone else, just assuming that it doesn’t really require their attention because “doesn’t everyone think like me?” Sometimes, that doesn’t work out so well.

Whether you like or hate the rules that come with life in a community association, once you buy that property – you’ve signed on. But those rules are designed to protect property values, and studies show that 70% of people believe they do.

(HUGE DISCLAIMER: Read your HOA documents before you close escrow. Know the rules before you move in – because by moving in, you’ve accepted them all.)

But it’s important to realize that communities with HOA’s are dependent upon the skills and personalities that residents and board members bring to the table. Good communication and transparency are crucial elements of a harmonious relationship between the HOA and its residents. Clarifying where the money goes, sharing information about how decisions are made, and encouraging homeowner participation in rules and expenditures are all part of the responsibilities that the board should take seriously. Think of it as a non-stop process of building and maintaining trust – with a big helping of give-and-take (sort of like having to deal with your extended family at Thanksgiving dinner!).

So we’d just like to remind homeowners that there are reasons you bought your home in that neighborhood – and some of those reasons may not even exist without the covenants and bylaws of the Home Owners Association that govern that community.

If you want to make sure that the HOA you live under is run properly and fairly – then exercise your voice, attend meetings, read the newsletters, stay informed, take advantage of your right to vote and even run for office. Because the only way to keep the bad eggs off the board is to make sure that it’s filled up with good eggs instead!

(One last reminder: HOAs now have the power to report to credit agencies – so even if you have a dispute with yours, stay current on your dues, or your credit may take an unnecessary hit!)

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!

The supply and demand for real estate has been doing some odd things for a while now. The effect of the Great Recession has created a somewhat unusual flow of homes coming onto the market for sale largely based on the actions of large banks intermittently releasing parts of their inventories of foreclosures on their books.

Whether their actions are good or bad for the market isn’t the topic here, though. What we’d like to do is help buyers understand what, exactly, they may be up against as they go shopping for their next home in Southern Nevada. Because one thing we see often is the seller having a choice of which offer they want to accept. And when you have just fallen head-over-heels for a home, it’s scary to think that the final decision of who gets it is completely out of your hands.

Or is it?

While there may be some things that can’t be overcome (for example, when a buyer makes a financial offer much higher than you can afford to pay) – for the most part, people tend to start out on a relatively equal footing. Most people will work with realistic appraisal estimates, most will need to obtain mortgage financing, etc. But there are a few things you can do that might help tip the scales in your favor.

First thing to remember: Sellers are people, too.

Okay, okay – we know that sounds obvious. But what we want to convey is that in being ‘human’ – their opinions and feelings can often be swayed with the smallest of issues; and if all things are equal financially in the multiple offers they received, then what will they base their final decision on?

We like to think that the numerous tips we’re about to give you all fall under one basic umbrella: Respect.

When you have gone out of your way to show a seller respect – for their time, their hospitality, their consideration, and their privacy – those are awfully easy (and free) things you can do in your interactions with that seller to build a bond of sorts that could just get you that purchase contract you’re longing for. Let’s get started, shall we?

Get Your Mortgage Loan Pre-Approved

We tend to harp on this topic in many of our posts – but that’s because it is such an important thing to do for so many reasons. In this particular context – when you’re trying to convince a seller that you are their best choice among many offers – you want to be able to clearly demonstrate these three things:

(a) You can afford to buy this home;

(b) Your financing has already been reviewed and approved by a reputable mortgage lender; and

(c) You are ready, willing, and able to get to closing

Having that ace up your sleeve – especially when many other buyers haven’t taken the same steps already – can easily move your name to the top of that “Consideration” list.

Be On Time

And if you can’t be on time, let everyone know that as quickly as possible.

Acknowledge the fact that selling a home can be a real time-suck. Sellers need to keep things neat, clean, and tidy at all times, rearrange their schedules to meet with Realtors™ and potential buyers, perhaps they’re meeting workmen to get minor repairs done – there’s a lot of work involved for the seller, alone.

So if you’ve made an appointment to view a home, be punctual. Running late? Call ahead and ask if they would prefer to reschedule – and definitely don’t let that happen more than once. Late appointments or no-call/no-shows until after one was scheduled can leave a bad taste in a seller’s mouth – about you. (insert demerit point for that!)

Show Courtesy for Their Home and Space

This is far from being an exhaustive list, since every home and seller will have its own special circumstances. But start with these items as your rule of thumb – and remember, it is simply not possible to be TOO courteous. So when in doubt, impress them with your consideration.

• Be respectful of parking. Don’t inconvenience the neighbors, and don’t block the seller’s cars in the driveway. If you need to walk from down the street a few houses, that’s a small price to pay to avoid making a poorly-timed bad impression.

• Remove your shoes. This may not make a difference to all sellers – but it may make a huge difference to YOUR seller. Stay on the safe side. In many cultures, it is a huge faux pas to wear shoes inside at all. It’s a whole lot easier just to not risk it at all.

• Don’t overwhelm them with a huge group of people to view their home. Try to minimize to just the heads of the household – at least for the initial visit. Forego the parents and best friends accompanying you; and on the first visit, it’s wise to skip bringing the kids. There is a liability that the seller assumes having people in their home – and think about it from their point of view. It’s uncomfortable to have people wander off from the group and then having to wonder/worry what someone is doing in the bedroom when you’re all in the kitchen, etc. If you decide this is the home for you – schedule a time to bring the rest of the household with you to view it at a later date.

• Don’t take photos without asking permission. Especially in this day and age – with the potential for an image to go literally from non-existent to a media sensation in mere moments. Many people go to great lengths to protect their privacy specifically from this possibility. If you’d like some images to help you plan and remember specific things – ask the owner if they would mind if you take a photo, and frame the image it in a way that they will be comfortable with.

Certainly there are many other thoughtful considerations you can put into play during your interactions with a seller – but remember this: You don’t know until you see a home if it may be “The One” that you simply must own. That means you want to practice these particular etiquettes – and perhaps others that your Realtor™ will recommend – with every home you visit in your search. Do that, and you’re going to be miles ahead of your potential competition to be the new owner!

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!

When you work in the real estate industry, it’s easy to get so used to the “lingo” that you forget sometimes the words and terms you’re using aren’t necessarily mainstream knowledge.

That got us thinking that it’s worth taking the time to explain a few of the most common real estate terms that we industry professionals just fling around carelessly – assuming everyone knows what we’re talking about. And since there are about a gajillion different phrases used in any given real estate transaction, we’d like to help explain one of the most common – but perhaps least understood – real estate terms that will affect virtually all buyers – namely: Title Insurance Policies.

A standard inclusion in pretty much any real estate purchase or sale, it’s one of those things that any REALTOR™ will just take for granted needs no explanation. Surely everyone knows what it is, right? (What? You mean you didn’t read the latest Nevada Revised Real Estate Statutes and Regulations when you were on vacation?)

Wrong. In fact, we have friends who have bought and sold many different homes through the years who finally ‘fessed up around their 5th escrow transaction that they had no idea what that charge is on their closing documents for “Title Insurance Policy Premium.”

So let’s start out with the simplest explanation:

The primary purpose of Title Insurance is to eliminate risks and prevent losses caused by defects in title arising out of events that have happened in the past.

Oh gee. Now that we see it in writing, that doesn’t really help much, does it? Okay – then let’s break it down further with a few Q&As.

What is it?

• Title insurance is a policy that protects you from unanticipated claims that could cause you to lose your home.

• It’s protection against historical mistakes and fraud committed with respect to your home.

How does it work?

• Unlike other insurance policies (such as life, health, or auto) – which protect against potential future events – a Title Insurance Policy insures against events that occurred in the property’s past.

Why is Title Insurance important?

• Mistakes happen. While your seller is obligated to sell you the home with a “clear title” (in other words, no liens, encumbrances, or claims that you didn’t agree to) – they may not always disclose title defects they know of; or even be aware of things that occurred prior to their purchase of the home.

• Imagine one scenario: You have to leave your home because county records show that the seller who sold you the home never really owned it. (It happens!)

• Or, the seller had work done on the home previously, but failed to pay the workers in full. The workers or subcontractor may have filed a lien against the property, and if it’s not paid – you could be the one held financially responsible to pay the liens in order to eliminate them from the title to your property.

• Title insurance protects against situations like this. When a claim is made, your title insurer will research the claim on your behalf and, if necessary, will make you whole for any loss incurred (which may even include paying your remaining mortgage balance in full, as well as related expenses.)

Who issues the Title Insurance Policy?

• Your escrow officer (or lender) will open an order, and the title agent will begin a title search.

• During escrow, a Preliminary Title Report is issued to the customer for review and approval.

• After closing and recording of all the purchase and loan documents, the escrow officer will disburse funds to pay the title company for the policy.

• Then the policy is created and issued to the owner or lender (depending on which policy is purchased).

What does it cost?

• It is a one-time premium paid at the close of escrow. The cost will differ based on the sales price of the home and/or the rates of the title company issuing the policy. (Estimate between .4%-.75% of your loan amount.)

How is it paid?

• It will show up on your escrow closing statement as an “Owner’s (or Lender’s) Title Insurance.”

Who should buy Title Insurance?

• In our opinion – everyone.

• There are two types of policies: Owner’s Title Insurance and Lender’s Title Insurance.

• It is optional for Owners.

• But nearly every mortgage lender will require that a borrower purchase a Lender’s Title Insurance policy.

Whew! That’s quite a bit of information! And to think, before we wrote this all down we just expected our clients to know (apparently by osmosis!) all that the phrase “Title Insurance” entailed. But hopefully, this helps to make it a little bit easier to understand in any future real estate purchase you make. (And if you have any other questions about this topic, feel free to contact us and we’ll help to clear them up.)

The bottom line is this: Yes, you want to purchase Title Insurance on your home. Considering the relatively minor cost – in relation to your overall financial investment in buying a home – it is money well spent. You may never need it, but if you do – you’ll be awfully, awfully glad it’s there.

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!

Made the decision to go find yourself another home, did ya? Wow. Now THAT’S exciting! Congratulations!

As we all know by now, buying a home is a pretty emotional experience. You’re excited, you’re amped up, you’re viewing listing photos via online sites several times a day, and you’re rarin’ to get out there and find the one that’s just perfect for you. Yep – that’s how it’s supposed to be.

Knowing what to do when you start home-shopping is important . . . in fact, it’s almost as important as knowing what NOT to do. The job of an experienced REALTOR® is to guide you down the right path for both of those fronts. But we figured it wouldn’t hurt to give you a little ‘heads-up’ about some of the larger pitfalls you’ll really want to avoid in the process. So read on, dear house hunter!

Not Letting Your REALTOR® Do Their Job

Funny thing – sometimes people complain about having to pay a REALTOR® at all – and then they fail to actually let them do the job they were hired for. We know part of that is the excitement and enthusiasm that comes with searching for a home, but it’s easy for buyers to jump the gun about certain things – which might ultimately end up costing them money, or even to have regrets about “the one that got away.” So – let your REALTOR® do their job. If you drive by an interesting property they haven’t mentioned to you, call them with the property address and phone number from the sign, and let them research the asking price and property details. (You’ll probably discover that 9 times out of 10, they didn’t mention it because it doesn’t meet your search criteria.)

Decide What You’re Looking For In Your New Home

This actually covers a range of topics, and it will be wildly different for every family. Do you have kids? Then the schools will be an important issue. How many bedrooms and bathrooms; what square footage; 3-car garage; a big back yard to play in, or a low-maintenance patio home; one- or two-stories; a specific neighborhood; close to your work; a multi-generational suite; a gourmet kitchen; new; used . . . as you can see, the list can go on and on. Your REALTOR® will help you nail down the specifics based on your needs and your budget. And then they’ll get to work on your behalf.

Stay In Your Budget

As critical as knowing what you’re looking for in a home (or perhaps even more critical) – is determining what your budget is. It’s not simply a matter of “How much of a mortgage loan can I get?” – because often, people will be able to qualify for a larger loan than they may truly be comfortable with. That’s not to say the lender is over-selling you – what it means is that you may have the income, but want to apply it to other priorities – and perhaps not all of it to your home mortgage payment. If you’re planning to start a business, have more children, saving for college tuition – these are all reasons (and many more) to take into consideration when deciding how much of a loan to get. And that – combined with your down payment needs – will help you determine the price range of the home you should be searching for. Few things are worse than shopping outside that range, falling madly in love with a home, and making the (incredibly long-term) decision to overextend yourself, or have to give up on your future plans because of an impulsive past decision. Just avoid that problem entirely – and stick with your planned budget.

Get Pre-Approved For Your Mortgage Loan

The old-school mindset used to be: Shop for home, Find home, Make offer, Get mortgage loan. Yeah – not so much anymore. There’s a new first step that any reputable REALTOR® is going to strongly recommend – or in fact, may even require before they’ll begin working with you: Getting pre-approval for a mortgage loan. And there’s a very good reason for that – in fact, more than one.

First, you don’t want to be wasting your time, going out and looking at homes that you can’t buy. It’s frustrating (and potentially heartbreaking) for you, and trust us – your REALTOR® certainly doesn’t have extra time lying around to waste, either. Getting a pre-approval for your loan removes the “wish” factor and gives you more confidence to shop wisely for the home of your dreams.

Second, while the market is always changing – it’s not all that uncommon any more for a seller to get multiple offers to buy their home. So put yourself in their shoes: You’re the seller, and you’re looking at offers from three different buyers. All things being equal (assuming they all offered the same price and the same general terms) – you’re going to be far more interested in choosing the buyers who have their loan pre-approval letter in hand, which proves they have the financial wherewithal to actually close escrow successfully. And since you were smart enough to get that pre-approval – you’ve got a good chance of beating those other two buyers to become the new owner.

Choosing The Right Lender

Let us just say this: All mortgage lenders are not the same. Actually, it wasn’t all that long ago that they were all more alike in how they made, processed, and charged borrowers for their mortgage loan. But those days are gone. (A little thing called The Great Recession made that necessary.) Now, many home buyers don’t realize that simply by not doing their due diligence – and shopping their loan around to multiple lenders – they can end up paying thousands of dollars more for their loan than they should. You read that right: Thousands.

Why? Because different regulations apply to different types of lenders. Mortgage Brokers (like Las Vegas’ locally-owned Premier Mortgage Lending) are regulated in how much they can charge for a mortgage loan – and they must fully disclose all charges to the borrower. Banks and Mortgage Bankers do not have the same restrictions; they can earn more from the borrower and not even have to disclose that information (so basically, they’re spending your money without even telling you about it). And you know what else? That extra few thousand dollars you’ll save by shopping around is money that can help you qualify for a larger loan, a different home, buy new furniture, or just put in your pocket. (Which all sounds a lot more fun to us than just handing it over to a bank – but that could just be us. ;-))

Actually, those five steps are just the beginning – because there are many other house hunting pitfalls that buyers can easily avoid, as long as they’re aware of them. We’ll help out with some more of those in a future post. But for now – remember these as you set out on your home-buying adventure, and you’re more likely to get the perfect home at the perfect price! Woo-hoo!

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!

No lie – there are times when it’s great to be thought of as SuperRealtor! And then there are times, when … well, notsomuch. Helping a client buy their dream home (or sell their existing home to get there) – is a wonderful feeling. Pulling all the details together and helping everyone to reach the finish line is so incredibly satisfying to a Realtor™, both professionally and personally.

BUT…. (you had to see that coming, didn’t you?) Even Clark Kent had a day job.

And by that, we mean at any given time, we have a lot of balls in the air – it’s just the nature of our job. So while we do our best to “be there” whenever a client needs us, there are times we simply aren’t at liberty to drop everything and rush out the door. (Emergencies are, of course, another story. And yes – there are real estate emergencies to deal with at times.)

After all, if you were the client with whom we had scheduled an appointment in advance to view homes, or to take care of paperwork, inspections, etc. on your home purchase or sale – you wouldn’t be too thrilled at the idea of being ‘ditched’ because of someone else’s poor planning – right? And (it’s always amazing to us that people don’t think about this until we point it out) ….we’re Real People, too! That means we have a work life and a home life (okay, sometimes). There are hours we’re awake – and hours when we sleep. (Aaaaack! What a concept!)

We’re the first to admit that with the 24/7 nature of Las Vegas, sometimes people forget those little details. So we’d just like to point out three little courtesies that will help you and your Realtor™ get along even more swimmingly.

• Respect Your Realtor’s Time – As Much As You Do Your Own

Do you have an appointment scheduled with your Realtor™? We’d really love it if you’re on time. But we also know that ‘things happen’ and get in the way of even the best-laid plans. Just keep in mind – it takes us time to drive to that appointment, too. So if you know (or even think) you may be late for a scheduled appointment, please give us a call as soon as possible. Often, even a 15-30 minute hitch in our schedule can inconvenience many other clients, the other agent, the sellers, and staff that we work with. It can be the difference between having a productive day or seeing our schedule thrown into complete havoc (and having to play the “I apologize/Catch-Up” game the rest of the day). So those clients who appreciate that we have a schedule, too, well – we appreciate they recognize that fact more than they know.

• Failing To Plan Ahead

Ideally, buyers and sellers choose a Realtor™ to work with because they believe we’re good at what we do. Most people will ask friends or associates for a referral to a good agent because hey! – we live in a “social” world anymore. There is simply more trust placed in a business or a professional because someone you trust has had a good experience with them.

The news flash that goes along with that? It means we work hard. And that our schedules are busy – just like yours. Let’s face it – would you want to hire the Realtor™ who has nothing but “free time”? Nope. You value us because we’re dedicated to doing a great job for every single client. All that, while practicing the delicate balancing act of maintaining a personal and family life, too. (And yes – we know that’s not a problem exclusive to Realtors™. All the more reason to empathize…because we know everyone deals with that.)

That said, it’s a pretty safe bet that most people have a sense of when they plan time in their schedule to view homes. Talk with your Realtor™ about a mutually beneficial schedule – and then you’ll both be on the same page to find a day and time that works for you both. Because it all falls back on that “respect for time” we mentioned above.

• Expecting “Instant” Communication – At Every Hour

Vegas is a tourist town – we get it. And we love it! However, just because you’ve come to town shop for a home and chose to utilize this trip to catch up on your casino recreation at 3am, it doesn’t really follow that we’re sitting at home waiting for your text to come through about that time. Sometimes, there are reasons we must be available by phone, just as you have had such situations occur. But we also have the hope that our clients will respect our off-hours and not shoot us messages at any hour of the day or night, asking to go look at homes in 3 hours! Ahhhhh……yes, it all boils down to – once again – respect of time.

But that respect is absolutely a two-way street. A professional Realtor™ is completely dedicated to giving each client the time and attention needed (and then some!) to make sure their real estate needs are met – – and exceeded. We work hard, during long hours to know our market, to know the always-changing laws and regulations, to get our clients exactly what they’re in search of, and still manage to get it all right. And we love doing it, too! We just also happen to love it when our clients realize we’re just like them . . . we need to play, rest, and take care of our personal lives, too. We promise, if you’ll keep that in mind, you’ll get the very best of every service we have to offer!

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!