Posts in category: Housing Market

To overstate the obvious, purchasing a new home is a big deal. No one should rush into a deal without thoroughly thinking it through first. For most people, a house will be the biggest asset they have. That being said, many potential homeowners have a nasty habit of waiting too long to make a decision. This caution could have the unintended consequence of letting a once-in-a-lifetime opportunity slip vanish. Consider the following tips to avoid getting “decision fatigue” when you’re trying to decide whether or not to buy a home.

Understand the consequences: Why is waiting such a bad decision? Simply put, it’s a buyer’s market out there. Say, you’ve found the home of your dreams but you hesitate to pull the trigger on the deal. Perhaps you want to get the price down just a little more. Well, chances are that there’s someone out there willing to make that deal right away.

Leave emotion out of the process: Sure this is easier said than done, but you can’t let stress consume you when you’re considering a new home. Take a deep breath and talk with your significant other about the options. Ask friends or family for their opinions, but be careful not get overwhelmed with everyone’s point of view. The decision comes down to you.

Stick to the plan: Hopefully you did some preparation before beginning your search for a new home. This could include a specific price range, location, property size, etc. If the house in question falls within your parameters, then make the deal. Having a wonderful new home will be much better than wondering about what could have been.

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

Myth #7: Buying real estate guarantees appreciation…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

In the world we live in today, many things are unpredictable, especially when it comes to the housing market. It used to be said that there were good times to buy a home and bad times to buy a home. Now, with the excessive use of the Internet, buyers are shopping the housing market 24/7/. This brings us into our third week of Home Buying Myths.

Myth #3: The best time to buy a home is in the spring or fall…

For many years now, real estate has been said to revolve around the school schedule. Parents wanted to buy a home during the summer months so their children could be settled in before school was starting up. That is where the myth started, that spring was the best time to buy, summer was normally slow and fall brought around a new opportunity for buyers and sellers.

In reality, pulling away in the winter and summer seasons does not benefit buyers or sellers. Serious buyers are looking at the market all the time, especially when they are in demand for it, which could be during any season.

Shopping in the middle of winter or the heat of summer could bring amazing opportunities to those buyers determined enough to find their new home. In this day and age, an aggressive buyer can acquire a great home during any season, especially with less competition during summer and winter.

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

A buyer’s home search these days is usually started online. They want to get a feel for what is out there, put a visual to their ideal homes and to check prices. Then the serious buyers with get in touch with a Realtor®. By this time the buyer usually has an idea of what they want, price they can afford and way too much Internet knowledge about the housing market! Some buyers will have a certain standard but they will all most likely be concerned about the following amenities:

Location is a given…

There is a reason everyone knows the saying “Location, Location, Location”! It matters on so many different levels, where your home is located for selling, renovating, expanding, etc. in the future. If a home is in a “can’t beat it” area, it will not take long to sell. Even some of the least attractive homes tend to be scooped up, as a “fixer-upper” or a work in progress, just for the location alone.

Where can we walk to?

Is there a Walgreens on your corner? How close is the nearest Target or Walmart? Everyone will want to know where the closest grocery store is located and how far you are from the main street, highway or interstate. Is there a dog park nearby? How about a workout facility? If you anticipate these questions, as a Realtor®, your buyers will be at ease, confident and satisfied!

The School District…

The school district is by far one of the most important attributes to buyers, whether they already have children or if they eventually plan to. It is not out of the ordinary for a buyer to start searching for a home strictly based around different school districts.

Fees and Taxes…

Monthly fees are often overlooked for buyers when they are searching for a home. Since the price of the home is a main concern sometimes other costs are not top of mind. As a Realtor®, be open about fees and other charges they may encounter living in different areas. If you are up front with your clients and truly interested in providing them with the best service, they will greatly appreciate it.

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

Being a Las Vegas Local can get a little old after a while. While people travel to our city for vacation, we tend to travel away from it. With work, school, responsibilities, etc., it is hard to travel very far but we are lucky enough to be surrounded by amazing places. Below is a list of short trips to take in a day or even spend a weekend without “breaking the bank”.

Lake Havasu
Just 2.5 hours south of Las Vegas, straddling the Arizona-California border is the large reservoir of Lake Havasu. With fishing tournaments and festivals, travelers get more out of their experience here than just the fantastic water activities.

Laughlin
Spend the weekend jet skiing on the river or enjoying a concert on the Laughlin Strip! There are plenty of special events and nightlife to keep people coming back. Canoe, fish and river tours are just a few of the water attractions offered in Laughlin, NV.

Mt Charleston
Travel to the mountains for cooler weather! Mt. Charleston is about 20 degrees cooler than Las Vegas and can be a nice change. There are many recreational areas and hiking trails. Here is a list of tips to remember if you decide to take this climb!

Zion National Park
Just 2.5 hours from Las Vegas in Springdale, Utah, is the beautiful scenery and hikes of Zion National Park. The park is known for its variety of color with red, white and pink rock formations with gorgeous greenery out of the norm for most.

Grand Canyon
The famous Grand Canyon is only a 5-hour drive from Las Vegas. There are also many helicopter tours available giving you sights you would not be able to witness visiting by car! Take a guided tour, hike some trails or make a campground reservation and stay over a weekend. 

Valley of Fire
This is the oldest and largest state park in Nevada and only about an hour northeast of Las Vegas. This park open year round is known for its camping, hiking, picnicking and photography.

Willow Beach
Camp, fish, ski and more! There isn’t much you can’t do at Willow Beach near Boulder City, Nevada. Located on Lake Mohave, spend your day enjoying the multicolored rocks and sandy beaches. Later take a hike, raft down the river or take a break to do some fishing!

Hoover Dam
Attracting more than a million visitors a year and located just outside of Las Vegas, the Hoover Dam is one of the Top 10 Construction Achievements of the 20^th century. Tour the power plant or take a tour of the observation deck with panoramic views of the entire dam. There is also an option for a Dam Tour. Read more here for details!

Where will you travel to next?

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

The Las Vegas housing market is continuing to climb while the percentage of buyers who are willing to pay cash hits its lowest point in 4 years.

“Greater Las Vegas Association of Realtors (GLVAR) reported the median price of existing single-family homes sold in Southern Nevada during June was $199,900, up 2.5 percent from $195,000 in May and up 14.2 percent from June of 2013. That’s the highest median home price GLVAR has reported since September of 2008. The median price of existing condominiums and townhomes sold in June was $109,000, up 6.9 percent from $102,000 in May and up 26.7 percent from one year ago.”

Read more about the Las Vegas local home buyers and the ever so entertaining housing market…

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

Summerlin is a master planned community made up of 22,500 acres on the western rim of the Las Vegas Valley. Summerlin was built on the idea that your home lies not in its foundation but rather in the foundation of the community it is surrounded by. Just miles from Red Rock Canyon National Conservation Area, every detail of Summerlin was carefully constructed to provide residents with a place to call home, now and forever.

Summerlin is one of the most desired destinations in the Las Vegas Valley with award winning trail systems connecting more than 150 neighborhood parks including Cottonwood Canyon Park, Mesa Park, Ridgebrook Park and The Hills Park! Summerlin is also home to 9 of the finest golf courses and allows access to a world of lifestyle opportunities and amenities to create your ideal quality of life. If you are a golf enthusiast, you may have played on one or two of the Tournament Players Club courses or the Bear’s Best Las Vegas course in the Summerlin area.

Home to 10 nationally recognized private and public schools, such as Faith Lutheran Academy and Bishop Gorman High School and 12 public schools along with higher education facilities and learning opportunities for all ages, Summerlin is the best address for education. For information regarding public schools in this area simply call the Clark County School District at 702-799-5000. You can also download the reference sheet for schools in the area by clicking here.

Summerlin is more than a place to live. It is a way of life. Visit Summerlink to learn about resident services, community information and events like the 20th annual Patriotic Parade and Firecracker 5k walk/run coming up for the 4th of July. There is also a Pumpkin Festival in the fall and a Hometown Holidays event in December! Welcome to Summerlin, a deeply rooted community master planned to perfection. Where neighbors become friends and friends become family.

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