Real estate Market

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!

This year, Las Vegas has been reaping the results of the long-term recovery in the real estate market with many economic indicators headed in the right direction – Up. A drop in unemployment, more new homes starts, an increase in the sale of resale homes – overall, we’ve seen a consistent improvement each month across the board. And that’s a welcome change for home owners / sellers, buyers, and the real estate industry as a whole.

And the good news continues: New home builders are seeing more first-time buyers entering the market, and as the job market improves, Millennials are beginning to transition from renting to owning. Single-family home sales have hit a 9-year high nationwide – and here in Las Vegas, the median price of homes has increased by 10% compared to June 2014.

Granted, for several years, it seems there’s been nowhere for the market to go except up. Due to the uncertainty in the job and housing markets over the past seven years, 7.4 million home sales have been lost. And while many of those sales may never be recovered, the housing demand is now being driven by population growth, higher employment, and improved incomes. It’s all great news – with industry analysts predicting that the U.S. housing market should continue to improve into 2016.

Adding to this resounding recovery is the fact that more buyers are once again able to become owners. Those who were hit hard by the recession have spent the interim years rebuilding their credit and recovering financially. And many who experienced short sales or foreclosures have moved past the mandatory imposed waiting periods imposed before they could obtain a new government mortgage loan. (Although thanks to a special financing program from one local Las Vegas lender – Premier Mortgage Lending – buyers are also eligible to get non-traditional financing as early as one day after a foreclosure or short sale is completed. Visit AnotherChanceNevada.com for more information.)

When you combine all these excellent reports from all sectors of the U.S. economy – and add in that mortgage interest rates are still at long-time historic lows – more and more buyers are able to pick the home they love and receive that “Loan Approved” phone call we all hope for.

But to find out if you’re able to get that good news, you have to ask! Discover if you can get back into home ownership by contacting a real estate professional or mortgage lender today. Here at New Home Resource, we’re making it possible for Las Vegas residents to do it every single day. You could be among them.

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!

It’s no secret that the real estate market has had a tough go of it these past few years here in Southern Nevada. But now, all the data and statistics are gathering to indicate that the housing marketing in Las Vegas is back in action. If you’re wondering what the local perspectives are as to what’s in store for both new and resale homes in the valley, here are some of the notable highlights:

Las Vegas Home Prices Are Up 8% Over Last Year

The Greater Las Vegas Association of Realtors (GLVAR) reports that local home prices and sales stabilized in May 2015 – with the median price of homes sold through MLS rising from last year’s $195,000 to the current median of $211,250. According to GLVAR President Keith Lynam, “Overall, home prices have been stable this year, and demand is steady in our housing market.”

New Home Prices, Sales, and Permits Up This Year In Southern Nevada

As reported by Vegas, Inc. recently:

• New home sales have risen over last year by 8.9%.
• Builders pulled 680 new home permits in May – for a total of 3,289 year-to-date – a jump of 23.3%.

Clark County Unemployment At Its Lowest Level Since 2008

Few things will drive down a housing marketing like unemployment. If people don’t have jobs, they can’t buy. That’s now changing in Southern Nevada, as recent statistics show that area unemployment rates fell to 6.6% – and that’s music to everyone’s ears.

Available Home Inventory Is the Current Challenge

While new home builders are racing to meet demand, it’s clear that one thing needed to balance the market is additional inventory. It wasn’t too long ago that such a statement would have been considered wildly optimistic for Las Vegas. But in a move to address the issue, banks are finally beginning to take action on eliminating one of the last dark clouds on the Southern Nevada horizon – cleaning up the books on foreclosures. In doing so, yet another obstacle to the housing market will be eliminated – and it’s a step in the right direction for the Las Vegas economy.

Indeed, even as prices are stabilized and beginning to climb, consumers are seeing the value in returning to homeownership. With mortgage loans becoming more readily available and low interest rates playing a key role, it’s clear that the housing crisis now in the rear-view mirror and the Las Vegas valley’s economy is once more on the rise.

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!

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.

In a world with soaring energy costs and warmer temperatures, more and more people are looking to make their homes more energy efficient and therefore ‘green’.

Many people don’t know where to start or are overwhelmed with what needs to be done.

What are the benefits of making your home energy efficient?

1. You are doing your part in making the world a greener place.
2. Reducing your energy expenditure for space heating and cooling.
3. Higher resale and/or leasing values & marketability.
4. Enhanced environmental quality & decreased pollution.
5. Energy efficiency can also boost the local economy and create downward pressure on natural gas prices and volatility.

Here are several ways that you can make your home energy efficient:

1. Insulate walls and attic. By insulating all the walls and attic in the house you are stopping heat from escaping during the winter or flow into the house during the summer. This will reduce both the cost and the need to heat and cool the house during the respective months.
2. Caulk the exterior. Take a caulk gun and fill in any gaps around the exterior. Key places to caulk would be anywhere there are pipes running into the house, around doors and window frames and any cracks in the exterior wall. This will reduce air flow into the house and help the house to retain it’s heat.
3. Plant shade trees and shrubs. By planting shade trees and shrubs around the house, you are creating an extra layer of protection from the sun’s radiation throughout the summer and an extra source of heat during the winter. And, of course, the yard will look beautiful.
4. Replace existing light-bulbs with CFLs. Replacing the existing light-bulbs in the house with compact fluorescent lamps (CFLs), will reduce energy use by 3/4 compared to incandescent light-bulbs.
5. Improve efficiency of your water heater system. There are 3 things you can do aside from buying a new water heater. 1) Turn your water heater down to the warm setting. 2) Insulate the hot water pipes. This will prevent the water from cooling down as quickly in between uses. 3) Use low-flow fixtures for the showers and baths.
6. Upgrade or replace windows. Replacing windows, especially single-glazed windows, with Energy Star-rated replacements will improve your energy usage by 7-24 percent.
7. Change your air filter. Check your air filter regularly. If it is dirty then replace it. This should be done at least every 3 months. A dirty filter will block the air flow and make the system work harder to heat or cool the house.
8. Use solar film or solar shades on windows. Reflect heat, and therefore lower cooling costs, by shielding exterior windows with solar film or solar shades.
   
9. Replace your refrigerator. This essential appliance is also the most energy-guzzling appliance. Replacing your refrigerator with a new Energy Star-rated refrigerator will see a 20-40% difference in energy use and cost.