Posts in category: Selling Tips

There is always more to things than meets the eye and that includes selling your home. Since the market fluctuates so often, it is important to know what kind of a process you will have to go through before you decide to sell your home. Here is a checklist of how the usual house selling process will be laid out…

New Home Resource is happy to walk you through this process whenever you are ready. Our agents work hard every day to make sure that we are doing our best to get you the very best. Whether you are looking to sell your house or looking for a new house, New Home Resource will make it happen! 

Spring is in the air, so before the summer heat hits Las Vegas, it’s time to host a garage sale! We want you to have the most successful garage sale possible so even though most people know the basics, here are just a few tips to kick off the season and maybe some new tricks you’ve never tried before! Happy Selling!

1. Be Prepared: organize, label and have your cash ready the night before. Most effective garage sales happen before 10am which doesn’t give you much time to prepare these things the day of your sale.

2. Make sure people know about your sale: put your address in the newspaper, put a notice on craigslist and be sure to have a sign (or multiple signs) around your neighborhood. Click Here to see some great examples.

3. Never leave your money out. Always keep your money on you or inside your house away from your garage sale. Also, it is a good idea to have at least twenty $1 bills and plenty of $5 bills in case people need change!

4. Create an inviting display: every driveway looks the same during garage sales so be sure to make yours stands out! Put the big items in view of people passing by and have items easily accessible. Lemonade and water are always nice additions as well!

5. Bargaining: be very flexible to bargaining, after all you are selling these items because you don’t use them anymore. Be sure to start your price at what you think it’s worth and have a minimum price you will be willing to accept.

6. Keep track of your sales: When you make a sale, write down the item and how much it sold for so you can keep track of the money you’re making and the items you are selling.

Most importantly, have fun! It can be stressful setting up your garage sale but once it is in motion, the more fun you are having, the more fun your customers will have. If items don’t end up selling, think about donating them to a charity or local church before you throw them out. Good Luck!

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There are many things that are obvious when you decide to host an open house: Make sure things are cleaned extremely well, clear out clutter and fix damages or to the house. Here are a couple other things to think about when you are ready to sell your home and host an open house:

Take advantage of Technology – Most people start their housing search online so it is crucial to have your home front and center!

Put a sign in the yard that says “open house”! It may seem “out of date” but people driving by are more intrigued to stop in or come back during the open house because you have made it easy and obvious to them.

Invite your neighbors. Even if they seem to be snooping, they’ll have good things to say about the location; schools, shopping, neighborhood, etc.

Create a neutral environment: You want buyers to feel at home but not like they are invading someone else’s home. Pictures and decorations are great but avoid drawings on the refrigerator or overflowing closets. Storage is important so they will be looking in the closets!

Since it is still your home it is ok to have some rules such as, bathrooms are just for showing, remove accessible medication, and just make sure valuables are out of sight. Everyone will be chaperoned but you should always be prepared.

The outside of your home should be just as well put together as the inside. Make sure the garage is cleaned out, the grass is trimmed, weeds are pulled and toys/objects are out of sight.

Your agent will take care of the actual open house. For the most successful events, the homeowner and pets should be absent!

An open house can be a lot of work but it can also be exciting and is very important for making a sale. Entrust in your agent to steer you in the right direction and you will have a smooth experience!

PLEASE Click Here to VOTE FOR ME as 2014 BEST OF SILVER STATE AWARDS/BEST REAL ESTATE AGENT! 

     Thinking of selling your home? Have you thought about making any improvements before you sell? Be careful what projects you complete and what projects you leave unfinished! Most buyers are attracted to a certain neighborhood because of the location and pricing of the homes. Making your home seem updated won’t necessarily set it apart from the other fairly new homes. If you are thinking about selling your home here are a few “quick fixes” that could help you.

Flooring –

Hardwood: If you have wood under your carpets get rid of the carpet and refinish the floors. Hardwood flooring is in high demand!

Carpeting: If you don’t want to strip your carpet, think about replacing it with a tan color. Neutral colors are much more inviting in a resale.

Ceramic Tiles: Over the years, grout between tiles can become very dirty, giving your floor a ‘checkerboard’ look. Believe it or not, this is a big turn-off to buyers. Professionally steam cleaning or even acid washing your tile floor can take it back to a new look. Be sure to replace any unsightly broken or cracked tiles.

Kitchens & Bathrooms –

Cabinets: If your cabinets are damaged or worn, you should consider refinishing them. The newest kitchen rehab projects are including the painting of cabinetry, and at very reasonable prices! If your cabinets are very worn, you can even embrace the rustic look by painting in a way that embraces the wear and tear, giving the room new personality. Replace the hardware with knobs and pulls that are more updated or relevant.

Sinks: Make sure the sink is not stained and the faucets don’t leak. These are turnoffs that buyers won’t overlook and it is usually an easy fix.

Roofing & Exterior –

Roof: If the roof is torn or leaking, repair it. This takes a day or two but is not extremely expensive and is worth it. Be sure to save any receipts, for the new owner, from professional companies making repairs.

Landscaping: The first impression is always the most important so the outside of the house and the landscape should be clean and welcoming. Curb appeal is number 1!

Buyers want a home that is clean, convenient and ready to be occupied. The newer and cleaner your home looks, the more appealing it is to your buyer.

Thanksgiving comes late this year, which means a shorter-than-usual holiday shopping season. If you’re not the type to buy gifts throughout the year, getting an early start on holiday shopping can help ensure you have enough time to find gifts for everyone on your list, and perhaps, most importantly, save money.

Here are three things to do now to save money and time this holiday season:

Create a list (and budget) for everyone on your list

Greet the holiday season with cheer by keeping an organized list of names of everyone you need to shop for and an estimated budget for each. From family and friends to hair stylists and teachers, more names will likely appear on your list than you originally planned. Holiday shopping can be overwhelming, but if you approach it with an organized plan, you’re likely to avoid overspending and can better stick to your budget. Gift cards are a great option this year, since they are the top gift people want to give and receive, according to a recent shopping survey from Discover.

Savvy shopping tip: Look into your credit card rewards programs to see if you can cash in your accumulated rewards for gift cards, some of which are offered at a discount. Redeeming rewards for store gift cards is one of the easiest and most valuable ways to save cash, which means you won’t need to reach as deep into your pockets this season.

Do your research on sales and promotions

From gifts to groceries, holiday shopping includes a wide range of items, so it’s important to try to find the best prices on everything. According to the survey, Americans are most influenced by sales and promotions when it comes to their holiday spending plans. In fact, 70 percent of consumers are planning to take advantage of Black Friday and Cyber Monday deals. Whether you’re brave enough to face the crowds on Black Friday or prefer the convenience of Cyber Monday, shopping these big sales is a great way to stick to your budget and make a large dent in your holiday shopping list.

Doing your homework before making holiday purchases can also help you save even more. Price monitoring sites, like PriceGrabber, can compare and contrast prices for more than 1 million items, including electronics, appliances and clothing, and can be accessed right from your mobile device. If you’re shopping online, your credit card may offer extra rewards on online purchases this season that’ll help you save money on holiday gifts.

Savvy shopping tip: Mark your calendars with the dates of big sales and keep coupons in your wallet so you can use them at a moment’s notice. If you’re shopping online, do a quick search for coupon codes that provide extra discounts, as well as free shipping or gift wrap.

Use credit card benefits and rewards to save extra cash

Whether you prefer to shop in-store or online, credit cards can enhance your savings and provide added value to your shopping. Many credit card companies provide rebates, rewards and discounts on holiday essentials – at no added cost. Once the hustle and bustle of the season is over, you might find an item you want to return, but what happens if your purchase is no longer eligible? You won’t have to write it off as a loss if the purchase was made with a credit card that offers a return guarantee.

Savvy shopping tip: Use a credit card that provides added security and purchase protection including warranties and return guarantees that will help you save in the long run.

Taking a little extra time to shop smart and plan ahead will help you save and stay organized while shopping for holiday gifts and essentials. You may be surprised by how many resources are available to help stretch your budget further this holiday season.

If you’re shopping for a home this holiday season, contact a professional NEW HOME RESOURCE agent for all of your needs!  Let Broker Joanna Piette, Realtors Denise Moreno Thrasher, Evelyn “Beng” Kern, Jessica O’Brien, Lance Partin or Kathy Paterniti be your guide!

With over half of all homeowners planning to make some type of improvement to their home this year, the question is:  What exactly are they changing? Homeowners are choosing to wait until the high temperatures break and cooler weather hits to begin outdoor work, and home improvement companies are looking to unload new products to prepare for the new season, allowing homeowners to grab some great deals as autumn begins.

The most common fall home improvement projects include fencing, interior and exterior painting, window work, flooring, and roof repair, all of which are in preparation for the cold winter weather when home improvement projects are not at the top of your priority list. By getting these projects done before winter, you can put your home improvement projects to rest until spring without worrying about leaky roofs, cold air coming through cracks in the windows, and maintaining the value of your home with fencing and a fresh coat of paint.

“The cooler autumn temperatures make for the perfect time to focus more on the home and any remodeling projects,” says Jeremy Floyd of Fence Center. “Such projects like adding in bamboo or aluminum fencing, not only increases your family’s security, but the value of your home. Now that autumn is officially here, people are likely beginning to get these home improvement projects rolling.”    According to Floyd:

• Projects such as flooring, such as wood, can only be done during certain months of the year because certain types of flooring employ adhesives that need temperatures inside the home to be within a certain range, usually between 70 and 80 degrees. Attempting to employ these types of flooring in the winter can make it difficult for the flooring to dry and bond, which will prove problematic down the road.
• Fall offers the perfect time to increase the security of your home, particularly for fencing, as the ground is not too hard to work with.
• Painting provides a pungent scent and sometimes toxic fumes, making fall the perfect time for painting. Without the humidity, paint can dry quickly, keeping the aromas of the paint to a minimum.

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!

Reprinted with permission from RISMedia. ©2013. All rights reserved.

If there’s one common mistake people make when putting their home on the market, it’s not preparing the house first. There are a number of small things you can do to not only prepare your house for the market but also ensure you get the best price possible.

We at New Home Resource thought we would give you the run down of what you can do to prepare your home for the real estate market.

1) Curb Appeal: First impressions mean everything in real estate. In fact many people won’t even step through the front door if they don’t like what they see from the outside. Spruce up the house with a fresh coat of paint, trim those hedges and jet wash the path.

2) Value vs Cost: Walk around the exterior and check for cracks, holes and crumbling. Repair and replace as necessary. The cost of repair will often be inexpensive in comparison to how much value will be added to your home with the repairs made. 

3) The Colors Of The Rainbow: The last thing a buyer wants to see when they walk into a prospective home is a rainbow of colors throughout the house. Keep the house painted in neutral colors and use accessories and furniture to add color to each room.

4) Show Home: One thing we all want to do when buying a new home is put our own personal touch on it. While you might have the vision of an interior designer, most people cannot see beyond existing furniture and personal touches. So take down those family pictures and posters of your favorite sports team and replace them with neutral paintings and wall coverings.

5) Minimalistic Future: We are all guilty of having too much of something, but your prospective buyers don’t need to know what. So rent a storage unit and de-clutter your home. Remove all additional pieces of furniture and appliances leaving clear counter tops to create a cleaner, bigger and sleeker look in every room. Now would be the perfect time to hold a garage sale to get rid of some of your unwanted possessions.

6) What’s Mine Is Yours. If there are fixtures and appliances that you want to take with you, replace them now. When buying a house, people take into consideration all the fittings and fixtures. If they love that chandelier hanging in the living room that you’re not willing to part with, then you may find yourself losing out on a sale. So save yourself any issues by removing all fittings and fixtures that you will be taking with you and replacing them with neutral fixtures.

7) Fix It: The last thing you want to do is put off a buyer because of a leaky faucet that would have taken you minutes to fix. So get out the toolbox and fix all the minor problems throughout the house. Even oiling hinges to stop squeaking can make a difference.

8) As Clean As A Whistle: Invest in using a professional cleaning company to give your home the spring cleaning it needs. Shampooing carpets and washing windows can make such a difference to the overall appearance of the home. If it looks immaculate then the buyer will believe you have taken good care of the home.

9) Flower Power: Adding flower pots to the patio and front door can make such a difference in making a house look like a home. Educate yourself on the power of color psychology to ensure you are giving off the right moods and energy. For example, yellow has the power of evoking a buying emotion.

10) Love It: Finally, forget all of your personal issues with the house and view it from a new perspective. Learn to love the house and all of its features. When a buyer comes to view the house tell them why you LOVE the house and what you will miss. The power of positive word of mouth is priceless. 

And we don’t know about you but nothing beats the smell of freshly baked cookies when you walk into a home.

The lack of resale housing available in Las Vegas has caused all out-frenzy to buy, perpetuating a steady increase in pricing over the past year.

The GLVAR (Greater Las Vegas Association of Realtors) reported earlier this month that the median price of single-family homes is up almost 14% since September 2011, and some sources that believe prices have increased as much as 20% from one year ago!    GLVAR reports that condominium prices are up 24% from this time last year.

Almost half of the Las Vegas market is comprised of short sales; foreclosure activity has slowed to barely a crawl since the inception of AB284, whose effects are still be greatly felt throughout the state.   This tight supply of homes is responsible for pushing up pricing from all types of home-sellers, who are taking advantage of the lack of inventory.

This increase in pricing is being felt in the appraisal arena (see my blog from 9-25-12) because comparable sales can’t keep up with the fast-rising pace of the newly listed properties.    Even new construction homes are suffering with low appraisals.

Some reports are showing sales volume is actually down from a year ago.   One must wonder if this surge in pricing isn’t keeping many buyers out of the arena.

When this will end is anyone’s guess.    For home sellers, NOW is a great time to sell your home for top dollar!!   For buyers, you need a professional agent who knows how to work well within this unique market.   Contact Denise Moreno, Heather Brockhurst or Joanna Piette with New Home Resource today at 702-365-1000!

What is going on with today’s home values??!!       Whether you’re a buyer or seller in today’s market, it’s probable you’ll encounter appraisal issues!

Low inventory, likely due to AB284, has caused an all-out bidding frenzy for the few homes on the market today.   Prices are regularly being bid higher by anxious buyers, and prices set by sellers are often thousands of dollars above the recent comparable sales.    And when multiple bids drive a house price thousands of dollars above the listed price, appraisers are still coming in with values below the agreed-upon price.

Considering most comparable sales in the Las Vegas market are of ‘distressed’ properties that have been neglected and/or not maintained, in need of repairs, carpet, paint and landscape, we can see how a property in ‘good’ condition would appraise for less – strictly because the comps are lower.   And unfortunately, appraisers are not giving credit for the improvements and better condition of the non-distressed properties.

Appraiser reluctance to report local appreciation is becoming a significant obstacle.  Many appraisers are reluctant to make justified upward adjustments for superior property condition or upgrades, because they fear criticism that they are potentially overvaluing the property. Many Realtors® and loan officers feel that appraisers will go with a lower valuation so as not to upset overly-cautious reviewers at the appraisal management companies.

As Realtors®, we are increasingly seeing buyers who want a home that is move-in ready, and as their agents, we must prepare them to consider paying the difference between the appraised value and the agreed-upon purchase price.   The bottom-line is simple:    Buy a distressed property and immediately put $20,000+ into it, or, pay $10,000-$20,000 in appraisal difference to get the beautiful home that is move-in ready.

Lenders who finance the property use the ‘lower’ figure as the base for lending.  So, if the appraisal comes in $10,000 less than the agreed-upon price, that $10,000 is money you’d pay in addition to your regular down payment and closing costs.   In days past, sellers usually came down on their price to keep the deal together – – but today that is not the case.  Sellers are regularly standing their ground on the agreed-upon price because they know ‘someone’ will pay it.

Until our inventory issues are worked-out, we don’t see a quick end in sight to these issues.    If you’re a buyer in today’s market, prepare to pay a little extra $$ above appraisal to get a great house.      You need professional help:  Call a New Home Resource Realtor® today!    You can reach Joanna Piette, Denise Moreno, or Heather Brockhurst today at 702-365-1000 !!   Don’t waste another minute!

The Mortgage Debt Relief Act is soon to expire!   And Congress has not mentioned a word about extending it…..     NOW is the time to get your short sale completed!

 Let me first remind everyone that we’re not attorneys,  and do not profess to understand this Act nor the law it its entirety.     Seek professional legal and tax advice for any and all of your questions or concerns!

 In a short sale, debt “forgiven” by the lender is subject to income tax,  because it is treated by the IRS as regular income.   With Las Vegas prices as they were during the “Boom Years” of 2004-2007, this figure is astronomical for most homeowners;  hundreds of thousands of dollars in forgiven debt could be considered taxable income.    

 The Act relieves qualifying homeowners from the obligation of paying taxes on mortgage debt forgiven from a short sale or foreclosure.     

 First enacted in 2007, the MDRA was extended once in 2009, but is set to expire this year on 12-31-12.    This means your short sale must be CLOSED by then, or any forgiven debt could be taxed as regular income.    There is qualifying criteria associated with the Debt Relief Forgiveness Act, so please seek professional legal and tax advice to see if you qualify.   

 Potentially millions of people could find themselves liable for a huge tax bill if the government doesn’t renew the MDRA by the end of 2012.    This bill may expire!     Since many short sales take an average of six months to complete, homeowners are simply running out of time.       Those  considering a short sale of their home need to act QUICKLY (like today!) in order to take advantage of a potential tax break. 

 Real Estate Brokers who are “Certified Distressed Property Experts” (CDPE) have undergone additional training specific to short sales.       The Broker at New Home Resource, Joanna Piette,  is a Certified Distressed  Property Expert / CDPE, and she can help. 

 Contact a professional Realtor® at New Home Resource today at 702-365-1000.     We will help you get through this!!