Posts in category: Selling Tips

image003Your home didn’t sell. Are those four of the most depressing words EVER? It certainly is to us, and we’re going to make a safe bet that that’s not something you want to hear, either.

The fact is, it happens more than real estate professionals like to admit. Or, rather, than their clients like to admit. An experienced Realtor® can most likely tell a seller exactly why their home didn’t sell – the problem is many buyers don’t want to hear – or believe – the reasons. That’s because it just might have less to do with the property – than it does with seller.

If you do an internet search, you’ll find a lot of lists that attempt to point out the reasons why a home might not have sold. But in reality, they all boil down to five things.


As we mentioned in a previous blog post, in our 24-hour-news-cycle age, it’s what is fresh and new that counts. It might seem that starting out with a listing price that’s, shall we say, “optimistic” (aka, high) isn’t a big deal. After all, if it doesn’t sell right away – that’s okay. You’ll just drop the price if you don’t get any bites, right?

Bad. Idea. Why? There are many factors that go into listing and marketing any property – but among the most important is perception. People love, Love, LOVE to be “the first,” to get the gem, claim the prize – and the only time your home is going to be able to be that particular brass ring they want to grab quickly – perhaps even attempting to outbid others to get it – is when it first comes on the market. Buyers and their agents know exactly how long a house has been for sale, whether the listing price has changed, if it’s fallen out of escrow, and many other details specific to your property. By dropping your initial listing price, it can signal to potential buyers that your expectations are unrealistic, which could make them think you’re unreasonable, or even difficult to work with. And this can all take place without even meeting them! Unfortunately, that’s the way our world works. Appearances count – and that applies to the seller as much as the property.

So when your agent explains their reasons for a suggested list price, remember that it’s based on their knowledge of the area and expertise. (That is, if you did your homework and listed with the right agent.) If you don’t agree with the price they recommend – ask them for an in-depth market analysis so you can see what homes like yours, and in your area, have sold for recently. Request a comparison showing how your home differs from the ones that have sold. As a seller, it’s crucial to take emotion out of your pricing decision. Your memories of your home may be priceless to you – but to a buyer, it’s just one of many houses they’re considering that they hope to make a home. And speaking of appearances . . .


It’s not that there’s necessarily anything wrong with your lifestyle – it’s that potential buyers just want to look at homes much like the perfectly-decorated, non-lived-in models that new home builders have on display. It may be unrealistic – but that’s really not the point. Beauty is in the eye of the beholder. So the goal is to make your home look as appealing as possible. In other words, MORE appealing than any other home currently being offered. Competition is stiff, and whatever you can do to gain an advantage in a buyer’s mind is worth any amount of trouble it takes you to get. (for the most part!)

But when it comes to evaluating the condition of a home, many owners simply don’t see the flaws that others may see. They have a hard time taking an objective look at their home’s condition to determine what needs to be done to prepare it for sale.

Once again, this is where a good agent is invaluable. They can help you identify those things should and must be corrected in order to make your home show well. You might even consider hiring a professional staging company to make recommendations; or at the very least, find some tips online that will be helpful. (And by the way, few things will turn off potential buyers more quickly than smoke or pet odors. Trust us when we tell you that taking the necessary steps to eliminate these problems will be vastly rewarded when all is said and done.)


This is an easy lesson: If the buyer can’t see your home – they are NOT going to buy it! Many times sellers underestimate the effect of not making their home available to show upon request by a buyer’s agent. How to solve this one? Simple: Allow a lock-box to be put on your house to give agents easy access. Through the years, the technology and security of lock-boxes has improved to the point that there are few, if any, reasons for a seller to have a concern about having one their home.

Second Rule: When your home is being viewed – Get Out. Take your family and leave ahead of time. Why? Because it allows the buyer and their agent to freely and comfortably walk through your home, look it over, and discuss it in depth. (By the way, if you have any pets, take them with you, too. Not everyone will think Fido is as wonderful as you do.)


If you did your homework in selecting a listing agent, this really shouldn’t have been a problem. But that’s a big “If.” Sellers need to be aware that not all Realtors® work the same. Reaching today’s home buyers may be much different than it was when you purchased your home. The internet has given us new ways to reach prospective buyers, and fully 94% surveyed indicate that they use the web for their new home search. But traditional marketing still counts. Your agent should know the benefits of each, as well as when and how to implement them. No two homes are exactly the same, and no marketing program is one-size-fits-all. Online, print, MLS, advertising, and often just hammering the phone to let other agents know your home is new to the market – these are all important factors in the exposure and the action that your listing receives.


If you had one or more offers on your house while it was listed but could not come to an agreement with the buyer, then it’s probably worth reviewing the deals to try to discover what kept you from reaching one. Most sellers are, understandably, attached to their homes – and many times this can cause some emotional, and even irrational, reactions to offers from buyers that impede their ability to come to mutual terms.

Don’t take it personally. Try to look at all offers without emotion, and even if it seems you’re too far apart, don’t just give up on the deal. And don’t get hung up on “but it’s the principal of the thing.” Too many times, a potential sale will fall apart not because of anything to do with the price, but because feathers got ruffled on one side or the other. One example: a seller refusing to correct a defect in their home – not because of the cost, but because they didn’t feel it needed correcting.

You may find many more potential reasons to explain why your home didn’t sell the first time around, but when you boil them down, they’ll more than likely fit into one of these five categories. We’re not saying if your home didn’t sell during your listing period, you’re out of luck. What we ARE saying is this: Be realistic, make any necessary changes, and forge ahead! This time, it will happen – because you’re armed with the knowledge you need for success.

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 Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!


If you’ve ever sold your home or an investment property before, at some point you’ve probably asked yourself: “Why shouldn’t I just sell it myself and save the commission?” That’s a great question. And although we touched on this topic in our last article, we thought it might be a good idea to delve a little further into the details.

In fact, we’re going to champion that idea for you and help you prepare for the task! So grab your pencils and highlighters, because we’re about to give you a Crash Course in For Sale By Owner techniques.

1) Remember, anyone – including you – can sell your home. All you have to do is underprice it. That’s been proven by studies showing that “for sale by owner” properties lose between 14%-20% on the price they could have gotten by using an agent. (So saving that 3% Selling Agent commission will come in handy.)

2) Great news! You get to keep your schedule wide open! At least, that’s if you want to make sure you don’t miss any prospective buyers. Because without an agent, you need to be on-call 7 days a week to show your property. If you’re not, of course, that means fewer offers and even less possibility of receiving a full-priced offer. (Then again, you might want to put a value on your time as you’ll be losing income for taking off work.)

3) That also includes taking time to market your property – whether with flyers, or online ads, or signage, or any other non-MLS methods you can think of. You’ll be paying for the cost of all this marketing, along with putting in hours of your time to let the public know your home is available for sale. Of course, without the instant and mass exposure of an MLS listing, you won’t have as many places to market your property as a real estate professional. That will mean less showings, fewer offers, and a lower sales price.

4) Tell yourself: “I can always list it later if it doesn’t sell.” If you first attempt a “for sale by owner” without success – and later decide to list with an agent – you may have already eliminated many potential buyers who saw or knew of your home in the first place. One of the reasons is this: In real estate, the first week your home is on the market is considered its “Golden Time.” That’s typically when you will get the most interest and the most money for your home. And the longer it’s on the market, the less money people are willing to offer.

5) Put on your “negotiating” hat. Because you’ll be the one to field all the phone calls, emails, and inquiries that come in about your property – and you’ll need to know the right things to say – such as how to ask pre-qualifying questions to determine if a buyer is financially able to buy your home. (No sense taking the time to show it if they aren’t.) That’s all before you find a buyer, of course. Once an offer comes in, keep in mind all it takes is one missed call to potentially kill a deal. But if you do get a contract – then you’ll need to make sure to meet with the appraiser and home inspectors, too – so be sure to schedule your time accordingly. (Oh, and know that “More than one in three appraisals contain inconsistent property ratings.” So you need to brush up on how appraisals are done, too.)

6) Put your attorney on stand-by. Because the odds are you probably don’t understand the contract process well enough to avoid legal problems, or how to explain to a buyers’ agent how you want things drawn up. You’ll also need to have the right forms and real estate disclosures on-hand to comply with the real estate laws in your state. Without an attorney (and they’re cheap, right?) – you won’t have any protection between you and potential buyers. And by the way, with the new TRID regulations that have recently gone into effect, buyers have even more protections than ever before.

7) You may still need to pay a Buyer’s agent commission. Most serious buyers are already working with an agent, so some of those phone calls will be to see if you will “cooperate” with them. If you don’t, they won’t even bother to show your home to their client. If you do, you’ll be paying them the standard commission at closing (generally 3%). That means you’re putting in all your time and money into saving only half of the full commission (3%). You might want to make sure that pencils out.

8) Be prepared to do it all more than once. Not every real estate transaction gets through to the end, for many reasons. Some can be avoided (with the help of an experienced professional), and some can’t – but estimates of real estate sales that fall through range from 10-20%. If yours is among them, you’ll need to take the time, effort, and money to start over again (more marketing, calls, showings, inspections, paperwork, contracts, fees, etc.). Of course, you’ve lost your “Golden Time” opportunity – so it will probably take longer, and you’ll get fewer and lower offers – but you’ll never be bored!

Okay, we do have to admit to a little bit of tongue-in-cheek with the foregoing information – but the point is, all of it is true. And while some sellers may be up to the task, potential FSBO sellers should be aware of these facts:

• Only half of home sellers who try “for sale by owner” actually sell their home on their own.

• In 2013, the typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales. (That’s a difference of 20%.)

• FSBO sellers list the following difficulties with selling on their own:

o Understanding and performing paperwork

o Getting the price right

o Preparing/fixing up home for sale

o Helping buyer obtain financing

o Attracting potential buyers

o Selling within the planned length of time

o Having enough time to devote to all aspects of the sale

All of that is contrasted with these most recent statistics:

• 88% of sellers were assisted by a real estate agent when selling their home.

• Recent sellers typically sold their homes for 97% of the listing price.

• The typical home sold was on the market for 5 weeks.

Perhaps the biggest mistake made by most FSBO sellers is this: Placing too little value on their own time. In truth, working with a professional real estate agent will more often than not net you better results.

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 Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

(Or: How To Lose Money By Not Hiring One to Sell Your Home)


Everyone loves “a deal.” In fact, if you’re like most people, finding a great deal on a product or service doesn’t only save money, it just plain makes you feel good. You were smart enough to know where to look, you put in the time to do the research – so you should feel good, because these days we all need to spend our money wisely.

Which means it’s only natural that for any big-ticket expenses, people are going to look around for the best price. But unlike a discount on a new appliance or a smokin’ price on an airline ticket, when it comes to real estate there’s more to take into consideration than simply the commission rate you pay an agent. Or for that matter, you may even wonder if you need to hire an agent at all.

We hear that a lot, actually. And to be truthful, we completely understand the motivation. The mere fact that you are about to sell your home means you’re dealing with big numbers. So it only makes sense to ask questions about the value you’re receiving for those fees.

If you’re like most homeowners, you’ve probably got more than a few more questions on your mind about the benefits of hiring an agent vs. doing it yourself. But whether you decide to work with a Realtor or not, it’s only smart to have all the information in order to make an informed decision. In our experience, many sellers don’t stop to consider some of the following points – and as a result, it can end up costing them money.

1. “Why should I pay an agent’s commission at all?

Naturally, this is a common question. So common, in fact, that studies have been done to see how transactions fare when handled with and without a real estate professional. The results show that when an agent is not used – transactions typically net the seller between 10-20% less cash when it’s all said and done. What does that mean? That working with an agent to list your home will generally pay for itself – and then some.


Part of why that happens is explained below. But it’s not only a matter of counting the actual net proceeds at closing. There are many other ‘intangibles’ that sellers need to consider if they’re going to forge ahead on their own.

2. “What, really, does an agent do for me – that I can’t do myself?”

Great question! Without an agent , here’s what happens:

Sellers need to determine the value of their home in the current marketplace and neighborhood. Contrary to what people think, it isn’t simply a matter of getting a “Zestimate” on Zillow. For one thing, the estimates calculated by Zillow are created by mathematical formula. That means they don’t take into account the specifics of your property – such as upgraded items, water features, cul-de-sacs, and other potentially desirable features that set your home apart from the competition. Independent research has shown that Zillow estimates can range from 8-20% off actual market pricing. For a $200,000 home, that can mean an incorrect valuation between $16,000-$40,000. (Can you see that money leaving your net profit already?)

On the other hand, not only does a real estate professional have access to Multiple Listing Service (MLS) historical data and proprietary information gathering systems – they also know the area, and in many cases, are even familiar with the specific homes that you will be competing with for a buyer. Providing a detailed analysis of what has sold and is for sale in your specific area is part of an agent’s service – and allows you to ensure your property is priced right, seen often, and gets the best results.

Sellers need to market their home themselves. Without the mainstream access of the MLS, sellers must spend time and money on advertising and getting the word out that their home is for sale at all. Whether it’s through newspapers, online ads, flyers, direct mail to Realtors – it takes a lot of effort to make your single home noticed in a busy real estate environment. Taking photos, putting up signage – it’s a lot of work; and worse, without a network it might net you only minor results. At best, sellers are able to make a small local part of the market know their home is for sale. At worst, it means that having a much smaller pool of potential buyers limits the offers and opportunities for a speedy sale at the best possible price.

Of course, this is all in addition to the time it takes you, as the seller, to maintain your property in ‘show-ready’ condition at all times. There may be repairs to be made, or even just the day-to-day maintenance of living in a home and trying to make it as welcoming as possible to potential buyers by keeping it clean and clutter-free. (Many sellers consider that a full-time job in itself!)

On the other hand, a professional agent not only has an internal network of support and services that takes care of creating both an online and print identity for your listing – but your home gets marketed to all the other agents in the area. You know – the ones who are representing real, pre-qualified buyers. The combined reach of the MLS and the broker’s own marketing programs mean that once your home is listed, the word is OUT.

Sellers need to handle the paperwork, contracts, and documentation on their own. That can be a scary proposition if you’re not familiar with the laws concerning real estate transactions. Failure to provide information or contractually cover all your bases can not only result in failing to close the deal – but can involve potential legal ramifications via lawsuits and costly settlements – both now or even years down the road. And all for an oversight you simply weren’t aware of.

On the other hand, real estate agents know the law. And a good one not only knows what is required to meet its demanding specifications, but also knows how to anticipate and head off potential problems – simply by the scale of their experience.

Sellers may still be working with a buyer’s agent, even if they’re going the “For Sale By Owner” route. If you think about it, here’s what that means: You’re going to pay the buyer’s agent to protect the buyer’s interests – but you’re not willing to pay a seller’s agent to protect yours. Ouch.

On the other hand, having an experienced agent on your side, who knows the market, often knows the other agents, knows the business, and follows-through – can give you a considerable leg up in negotiating a deal more beneficial to you.

But even if you’re not going to agree to a buyer’s agent fee, there’s another drawback. (And just so you’re aware – that’s how most FSBO listings start, by saying “No real estate commissions paid!” But due to lack of activity, it doesn’t take long for sellers to agree to pay the buyer’s agent commission just to get people to see the property).

The drawback we’re talking about? You need to screen potential buyers. Are they financially capable of completing the purchase? Are there any mortgage lender requirements they cannot overcome? You’ll have to do the footwork, make the phone calls, and ask the ‘uncomfortable’ questions about their personal situation so that you can protect your own position. Believe it or not, people will make an offer, you’ll take the property off the market, and only discover weeks or even months later that they may have to sell their own home first, or they don’t have the ability to get a mortgage loan at all. So the closing never happens. And in the meantime, you’ve lost the chance to sell to a truly qualified buyer.

On the other hand, (are you sensing a pattern here?) your agent knows the dance. They set the conditions, they follow up to make sure they’re met, they talk with the escrow and mortgage companies to keep on top of every single requirement the buyer has agreed to. That means problems are discovered and dealt with quickly – and all on your behalf, because your agent is working for you.

Buying a home is an emotional investment, not only a financial decision. And for that reason alone, it is critical that every step in the process is properly handled – the first time around.

Why is that so important? Because perception matters when it comes to real estate. The length of time a home has been on the market, whether the listing price has changed and why, if it has gone into and then fallen out of escrow – all these facts and many others will collectively play a role in the success of your sales efforts.

If it’s all done right, the property is considered “hot” and “in demand.” If not – as in the case of a failed FSBO effort that is ultimately then listed with an agent for sale – it can give potential buyers the perception that there’s something wrong with your home. And quite frankly – with all the other homes available for sale – it’s not worth the risk to them of finding out.

Much like people – a home doesn’t get a second chance to make a great first impression. If your goal is to sell at the right price in a reasonable time frame, a decision not to hire a real estate professional can be a very costly one, indeed.

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 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 two real estate transactions are ever going to have the exact same set of circumstances. But there are things that are rule of thumb for both buyers and sellers, and your Realtor has experience with what those things are. Without them, the odds are that getting to the finish line will be tougher for you, no matter which side of the transaction you’re on. These are some tips that can make the difference.

A List of “Do’s” for Sellers

You love your home and you just assume that everyone else will see what you do and love it, too. Maybe they will – maybe they won’t. But if you don’t make an effort to focus on the positive aspects of it, how do you expect a prospective buyer to see in the few minutes they have to view your property (and compare it to all the others they see)? Here’s a list some of the most important “Do’s” to make your property the one they want to buy:

1) Yes, staging your home by getting rid of clutter and bringing in furniture or accessories can help it sell. (And that includes the garage.) Also, buyers love to see lots of wide-open counter space – so be sure to clear off countertops in the kitchen and the bathrooms.

2) “Does it really matter if we have the carpets cleaned or take the family photos off the wall?” Yes! A buyer needs to walk in and have it look good, feel good and smell good. Put yourself in the shoes of the prospective buyers as if seeing it for the first time. Perhaps unmade beds or laundry on the floor shouldn’t make a difference – but a mess leaves an impression that’s hard for a buyer to overcome. And whether or not it actually matters to them, you should take advantage of every opportunity to make your home as appealing and showroom-ready as possible.

3) At a minimum, you should follow these steps for every prospective buyer:

a) Have your home clean and smelling good. (By the way, keep in mind that not everyone is a fan of plug-in air fresheners or scents. In fact, some people are quite physically sensitive to them, and an adverse reaction may mean they have to leave your home before they were able to fall in love with it.)

b) A comfortable temperature – whether heated or cool depending on the season.

c) Turn on the lights – it’s welcoming and inviting – and makes it clear there’s nothing about your home to hide.

d) Consider their comfort – set out some snacks or even just bottled water. If nothing else, it will cause them to remember your house out of the sea of competitors they visited that day.

4) The takeaway from all the above? The longer a house is on the market, the less likely you are to get fair value. So you really want to position yourself to be the one that sells, not the one that languishes on the MLS listings.

And a List of “Don’ts” For Buyers

You found “The House.” The one you want to live happily-ever-after in. It’s great to be excited and enthusiastic; to plan for the future and begin creating the home you’ve always dreamed of. But buyers need to remember to do first things first:

1) For many buyers, the minute they get preapproved for a mortgage – they start planning. Not for how to get to the closing date – but for how they’re going to decorate, furnish, and get all the things they’ll need once they move in. So they start running up the cards and opening new lines of credit to buy things for their home-to-be. But that preapproval letter is just one of the first stops in the home buying process — it’s not the end-point.

2) Many (especially first-time) buyers don’t realize that just before closing, a lender will re-examine a prospective buyer’s financial situation — complete with a recent copy of the credit history and other financial re-verifications. If those numbers have changed for the worse (salary decrease, higher card balances, new lines of credit), then it could mean the terms of the loan have changed. You may be charged a higher interest rate, or even lose loan approval entirely – because the changes to your credit and financial circumstances have changed your debt ratios. In fact, the number of buyers who get denied as a result of these reasons is significant. Don’t be one of them.

3) The hard lesson that you don’t want to learn by personal experience? Never get new loans or start using credit cards more heavily until after you’ve actually closed escrow on the home.

Since the first order of business is to complete either your purchase or sale transaction, these are important facts to keep in mind so you can go on to enjoy all the benefits of ‘life-after-close-of-escrow’ – whatever your plans may be.

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 Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

lawsuit-1Remember how you used to cringe for those people you’d see on television – as you watched Mike Wallace walk up to them with a cameraman in tow? It was everyone’s worst nightmare, because it meant some piece of information that they’d rather had stayed long buried was now front page news.

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

Anyone Have A Pen?

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

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

What Is A Sellers Real Property Disclosure?

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

What Potential Buyers Will Look For

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

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

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

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

What Happens If A Seller Fails To Disclose?

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

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

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

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

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

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 Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

busting-myths-resized-600-250x188“I have a friend who’s a real estate agent, and they told me you should ALWAYS _______. ” Go ahead. Fill in the blank. We’ve all heard plenty of ‘facts’ about what to do, or not do, when it comes to buying and selling real estate. Some are very true, some not so much – and some not at all. In fact, there’s really a pretty lengthy list of things we’d like to help set the record straight about. But for this week, we’re going to share our top 3 topics. We’ll follow-up soon with more in future blogs.

Myth #1: Rental Property Will Always Make You Money.

The truth is, if you know the market and purchase wisely, you can more than likely come out in the black on your real estate rental investment. While people tend to think big number returns (10-14%), when you factor in local conditions that affect tenant turnover, rental down time, and maintenance or improvements required, a more likely figure is a 6-7% return on your initial investment. Pay close attention to that first sentence, though. Research values, economic conditions, and market trends before you buy. Or you could be unpleasantly surprised at year-end.

Myth #2: Adjustable Rate Loans Are Always A Bad Choice.

In fact, not so much. The devil, however, is in the details – so you want to make sure you read all the fine print and fully understand how the loan will work: When it will adjust, by how much and how often, what the rates are based on, early payoff penalties, etc. For some people, it’s actually an expedient solution. Getting a mortgage based on a lower front-end interest rate can be a good thing, especially if you don’t plan to be in the home when the rate adjusts upward.

Myth #3: My Real Estate Agent Is Making Too Much Money Off of My Home.

In our experience, there are 2 kinds of people in the world: Those who realize how hard a Realtor works on their behalf, and those who don’t. However, it’s not simply a matter of effort, which can be considerable. (They don’t just put up an MLS listing and forget about it. It takes marketing and networking, communicating with Realtors and their buyers, and much more.)

But it’s also about how commissions are split, and often split again before ever reaching your agent’s wallet. While buyers easily calculate in their heads lump sums in 6% increments, consider how far that money has to travel before reaching your agent. Half of it goes to the selling office, and half to the buying office. Then each agent usually has a 30-50% split with their broker, whittling their paycheck further. When you add expenses incurred to sell a property (advertising, fuel, licensing fees), then subtract taxes paid on that commission – what’s left is a considerable amount less than you imagine.

Yet even with all that, your Realtor is the one person you can count on to be on your side, legally and ethically required to protect your interests in the purchase or sale of real estate. In reality, it’s a great value for all the work they do to get you the best price for your home – whether you’re buying or selling.

New Home Resource helps current and future homeowners with their Las Vegas real estate needs. Please contact a New Home Resource Realtor® today at 702-365-1000 or at 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 it comes to selling your home, there are certain rules that are pretty hard and fast, regardless of the state of the real estate market you’re selling in. In a difficult market, even more creativity may be necessary so that your home stands out from the crowd and has a better-than-even shot at finding a buyer. But before you get to those bells and whistles, make sure this vital checklist of items is marked as “Done!”

1. That “For Sale By Owner” (FSBO) Sign is Not Your Friend.

Numbers don’t lie. Those who sell homes without the aid of a real estate professional find their homes on the market longer, and get a lower price – than those who have representation. From digital and print exposure to signage and industry networking, most FSBO sellers don’t have access to even a small percentage of these tools. They make a difference in your bottom line.

2. Set the Right Price.

And by this, we mean don’t overprice, and don’t underprice, either. A professional understands the market and can gather information of what comparable homes are selling for. You want everything you can get for your home, right?

3. Repairs.

Some might think waiting to do repairs ‘until the buyer’s walk-through’ is the smart way to go. Maybe they think they’ll save a few dollars if certain things aren’t ‘noticed.’ Wrong. Prospective buyers who view your home see it all . . . and often even more than you do. When they’re comparing your home to the many others they are considering, that puts you at the bottom of the list. Unless someone is looking for a fixer-upper (and for that, they’ll expect a discount on your price) – make those repairs BEFORE you start showing. You know the saying, you never get a second chance to make a good first impression.

4. Straighten Up!

Buyers also look at lots of new home models before they purchase – whether they’re considering buying there, or simply want decorating tips for the home they do buy. They’re used to seeing homes in clean, uncluttered condition, nicely presented and not crowded with “stuff.” Even if you need to rent a storage space to place extra furniture or boxed belongings, it will be worth it when you reap the reward of the best sales price.

5. Vacant Homes – Big Mistake.

Your job may have called you away sooner than you planned and you had to move out before you could sell. But when buyers view vacant homes, its emptiness gives the impression of ‘abandonment’ – and all the bad images that conjures up in maintenance neglect and more. A small investment to use a local staging company (that dresses up your home with furniture and accessories) will pay for itself in a faster sale.

6. It’s Not Personal – It’s Just Business.

Another excellent reason to have a real estate professional manage your transaction. Your home is personal to you (as it should be) – and it’s easy to let ego get in the way of a win-win transaction for both parties.

7. Disclose, Disclose, Disclose.

It’s a simple document (Real Estate Disclosure) that asks all the right questions – so that you can answer honestly about the condition and your knowledge of the workings in your home. Don’t give your potential buyers any reason to question your integrity, or worse yet, discover imperfections after they purchase. (Lawsuit, anyone?)

8. Timing.

When it comes to real estate, timing really CAN be everything. Your personal financial situation may require closing escrow by a certain date to save yourself thousands in extra taxes. Make sure you know where you stand by speaking with your accountant beforehand, and build those deadlines into your sales contract.

9. Know the Costs.

This one is simple – if you just read your documentation and ask your real estate agent questions about any numbers you don’t understand. Request a copy of your closing costs statement prior to escrow recording so there’s no financial surprises at the last minute.

10. Photos Can Make Your Home.

More than 90% of all homebuyers begin their search online – so that’s the very first place your home will be seen. Amateur photos taken with a smartphone or digital pad aren’t going to show off your home’s best side. Your real estate agent will make sure that top-quality images are taken and used to market your home in all their coordinated online sales efforts.

New Home Resource helps current and future homeowners with their Las Vegas real estate needs. Please contact a New Home Resource Realtor® today at 702-365-1000 or at 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!

Before you start fixing all of the expensive problems in your home that made you want to sell it in the first place, think about what needs to be done. Don’t try to upgrade or get the most expensive replacements. Just because you spent money to make your home look nice, does not mean the buyer will consider that in the price of the home. To make your home more valuable there are a few tips and tricks that you may want to consider.

The kitchen is known as the “heart of the house” and to most buyers, if the kitchen is small, cramped or outdated it is a no brainer on the home. Appeal to the emotions of a buyer. You want them to feel like they have to have that kitchen. Match your appliances, decorate with warmth, clear the counters for more space and do a little research to “open up a room” or refer back to New Home Resource’s Design Ideas for Small Spaces blog article.

Homebuyers appreciate beautiful landscaping and curb appeal but they will also appreciate an easily managed exterior. If cleaning up the outside of their house is quick, easy and minimal, buyers will be more inclined to stick with your house. In Las Vegas especially, if you have rock in your yards and minimal grass and plants to water, your home is more appealing than home sites with grass needing to be maintained. Outdoor living has become very popular among buyers so try to also embrace any patio areas and outside entertaining options. Spruce up the exterior with furniture, decorations, etc.

Flooring can be a big deal to buyers. It is not suggested that you boast about your wall-to-wall carpet. Carpet is expensive and hard to keep clean (especially with children). If you do have carpet that is not appealing to the eye, think about adding a rug or ripping up the carpet and doing a little DIY project. Here are a few ways to make your floors more appealing.

It’s hard to think about spending money and time on fixing a house you are trying to sell, but it will be worth it. The value of your home can significantly change when minor fixes and decoration changes are a big factor in your buyer’s eyes. There is no way to tell which efforts will attract the most buyers, but some research or advice form your qualified real estate agent could really get you going in the right direction!

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!

Every year home designs change in size, style and price. Listed here are a few “hot” trends that have become more common in the buyer’s eye… 


1. Automated Controls: With automation becoming the way weorganize things why not include it in the home? Buyers are now more and more interested in automating their home. With just one system, from a phone, computer, etc., they want to be able to control the lights, fans, air conditioning, alarm system and more.

2. Outdoor Living Area: This trend has been around for a while but still makes the list. Having an outdoor living space is just as comfortable as indoor with furnishings, curtains, televisions and the addition of fire pits.

3. Energy and Water Efficiency: Appliances, lighting and furnaces that are energy efficient are very important to some buyers. Sometimes the amount of energy a home can conserve could make or break the buy.

4. Going Green: Interests in sustainable products and materials is always attracting attention. Now companies offer at least one item or line that fits the “going green” movement.

5. Kitchen and Bathroom Styles: Usually buyers have a kitchen and bathroom style in mind before they actually look at homes to buy. Trending now are the more “transitional’ looks – middle ground between traditional and contemporary styles.


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!