Summerlin

Earlier this year, the list of the 20 Top Selling Master Planned Communities for 2016 was released by research firm RCLCO, and to no one’s surprise, two extraordinary Las Vegas area master planned communities were included on that list – and you don’t even have to go past #7 to find them.

Clocking in at the #5 position is Summerlin, and at #7 is Inspirada. (Woo-hoo, Las Vegas and Henderson!) Plus, Mountain’s Edge, Providence, and Cadence also made the list of the Top 50 Master Planned Communities. That’s pretty solid proof that the real estate market in Las Vegas is recovering well from the Great Recession – (something we’ve known for some time). Considering the popularity of these areas, it occurred to us that if you’re just thinking about moving to the Las Vegas valley, perhaps a primer in a few of the successful master plans might come in helpful! Remember, this list is by no means exhaustively complete – because Las Vegas continues to grow and attract new residents from all over the country – but it can come in helpful to give you a sense of the ‘lay of the land’ to get your in-person home search under way soon.

Summerlin

Located along the western rim of the valley at the edge of Spring Mountain and Red Rock, Summerlin is the largest master planned community in Las Vegas – covering 22,500 acres. More than 100,000 people live there – which is about 5 percent of Clark County’s total population. Well-known for its thoughtful neighborhoods, beautifully landscaped avenues, and numerous parks, community centers, and hiking and biking trails – Summerlin lies at the higher end of the Las Vegas elevation with many homes offering picturesque views of both city skyline and nearby mountains – capped by the close proximity of Red Rock Canyon National Conservation Area. Many of Las Vegas’ finest homebuilders offer new communities in the various villages at Summerlin, where buyers can find both production and custom homes to choose from. Summerlin itself began selling homes in 1990, so the resale opportunities in this area are immense.

Inspirada

This 1,900-acre project is located in the heart of Henderson (which Bloomberg Businessweek ranked as one of America’s 50 Best Cities – and named America’s Second Safest City by Forbes Magazine in 2011). Situated on the southern edge of the valley, it’s among the top-selling master planned communities nationally, as we mentioned – with builders closing 564 new-home sales in Inspirada last year, up 45 percent from 2015. Nationally recognized homebuilders in this master plan include Beazer Homes, Century Communities, KB Homes, Pardee Homes, and Toll Brothers. Inspirada’s park system is one of the defining features here – with four already built and 85 acres of parks and trails planned. Community events are varied and inviting to residents of all ages, and homes range from approximately 1,500 to over 4,500 – priced from the $200s to the $400s.

Mountain’s Edge

Located in the southwest part of the valley, this 3,500-acre master planned community calls for 14,500 homes in more than 22 neighborhoods that will include multiple schools, stores, office space, and shopping centers. Builders include D.R. Horton, Woodside, Beazer, Pardee, Discover, Lennar, Toll Brothers, KB Homes and many others. Mountain’s Edge features hundreds of acres of land devoted to open spaces, parks, and trail systems. It was developed as the region’s first drought-tolerant community, estimated to save over 200 million gallons of water annually vs. traditional grass sod landscaping. Close to both the city and stunning mountainscapes and featuring an active community event calendar, Mountain’s Edge began in 2004 and was the #1 selling Las Vegas community from its opening through 2008. Both new and resale homes are available at Mountain’s Edge to explore.

Providence

Found in the northwest Las Vegas valley, Providence is a 1,200-acre master planned community that will ultimately include about 7,500 single and multifamily homes in 39 different neighborhoods. Located near schools, shopping, dining and the 215 Beltway/U.S. Highway 95 access. In addition to being in close proximity to both Nellis and Creech Air Force Bases, Providence attracted new-home builders KB Homes, Lennar, Pardee, Richmond American, Ryland, Warmington Residential, Woodside and Summit Homes. With acres of neighborhood parks and trail systems, a thriving community center and an active event calendar, Providence has previously ranked in the Top 10 master planned communities in the country. Winding avenues and numerous amenities have made Providence a lovely and peaceful addition to the Las Vegas landscape. Next stop: Mount Charleston!

Cadence

Located near the intersection of Lake Mead Parkway and Boulder Highway in Henderson, Nevada, Cadence is a 2,200-acre master planned community calling for 13,250 homes, over one million square feet of commercial property, 30 acres of trails, six schools, and a casino resort. Homebuilders include Richmond American, Lennar, Ryland, Woodside, and more. Schools, shops and restaurants are right inside this community – along with parks, pools, and trails – with the 50-acre Central Park a main draw (amphitheater, pickleball, and free wifi anyone?). Add in a bike-share program, and close proximity to Lake Las Vegas and Cowabunga Water Park – and you’ve got the makings for Las Vegas fun any time of year.

Keep in mind that both new and resale homes are available for purchase in all these areas, too. And whichever route you choose for your Las Vegas home, you can rely on the experienced services of the New Home Resource Team to look after your interests and ensure a smooth and seamless transaction.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or visit www.newhomeresource.com. Broker Joanna Piette, and agents Denise Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

There are a lot of landlords in Las Vegas these days. In fact, ever since the Great Recession when investors took advantage of great opportunities in our city, the number of rental properties in Las Vegas has risen rapidly.

What hasn’t risen as rapidly is the number of quality property management companies. Notice our use of the word “quality.” Because as you know, when any new need in the market is filled – there are usually choices of great, good, so-so, and ‘stay-away-from-these-guys’ options for that service.

That’s why we would like to remind our Las Vegas clients and friends that New Home Resource Property Management is among one of the best choices that Las Vegas property owners can make – that is, if they want their rental homes to be managed professionally and cost-efficiently. And, all that while building a reputation that makes their homes the first choice of qualified renters.

Why hire New Home Resource as your Property Managers?

If any of the following reasons sound familiar, then we should talk:

• You have multiple rental properties.
• You don’t live near your rental property.
• Your time is limited.
• Hands-on management is not your preference.
• You’re inundated with too many tenant issues.
• You don’t want to hire “employees”, thus an independent contractor is your preferred option.

We’re in it for the long-term on your behalf, and we make it possible for you to rest easy knowing that virtually every detail of managing your rental home is being handled by experts. Even better, we provide a personal touch with dedicated software to stay on top of the details and allows you to be in the loop at all times.

That’s why you can rely on us to take care of it all – from marketing to finding and properly vetting new tenants, checking references, collecting rents, handling repairs, taking care of tenant complaints – even pursuing evictions, if necessary. We have the resources and the expertise to make sure it all happens smoothly, without a hitch.

The only thing you need to ask yourself is this: “How valuable is my time?” Let New Home Resource Property Management take the ‘tasks’ off your To-Do list and put them on ours.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

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

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

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

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

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

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

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

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

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

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

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

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

Or is it?

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

First thing to remember: Sellers are people, too.

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

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

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

Get Your Mortgage Loan Pre-Approved

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

(a) You can afford to buy this home;

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

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

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

Be On Time

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

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

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

Show Courtesy for Their Home and Space

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

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

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

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

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

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

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

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

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

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

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

So let’s start out with the simplest explanation:

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

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

What is it?

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

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

How does it work?

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

Why is Title Insurance important?

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

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

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

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

Who issues the Title Insurance Policy?

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

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

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

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

What does it cost?

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

How is it paid?

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

Who should buy Title Insurance?

• In our opinion – everyone.

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

• It is optional for Owners.

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

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

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

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

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

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

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

Not Letting Your REALTOR® Do Their Job

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

Decide What You’re Looking For In Your New Home

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

Stay In Your Budget

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

Get Pre-Approved For Your Mortgage Loan

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

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

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

Choosing The Right Lender

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

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

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

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

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

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

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

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

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

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

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

• Failing To Plan Ahead

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

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

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

• Expecting “Instant” Communication – At Every Hour

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

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

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at www.newhomeresource.com. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

There’s definitely a formula for success in selling a home. And when it’s time for you to think about selling yours, if you’re working with an experienced and knowledgeable Realtor™, they’re going to let you know what it is. The formula will change depending on the home, the community, the city, and the surrounding area – but there are a few ‘universal’ concepts that you should be aware of. That way, when it’s time for you to plant that “For Sale” sign in your yard, you’ll be a few baby steps ahead – and sometimes, that’s just enough of a leg-up to get to a happy finish line sooner.

1. Buyers Know Within Seconds If They Want To Buy Your Home.

Yep – buying a home is a huge investment, so you would imagine people want to weigh all the pros and cons, maybe even make some spreadsheets to compare features, costs, and benefits.

You would be wrong.

Why? Because the mind processes far more information in less time than previously thought; one recent study shows that 80% of prospective buyers know if a home is right for them within seconds of stepping inside. That’s a daunting thought, isn’t it? But all the more reason that we drive home this fact: No detail is too small for the Seller to consider. Sweep the front sidewalk, clean up the leaves; tidy up the entryway, unclutter every horizontal surface. And of course, we’ve never heard of a Buyer complaining that a house is “too clean.” That’s worth remembering, too.

2. Pricing Makes A Difference – But Not For The Reasons You Think

First off, we’ll say this: Your home needs to be priced right to take advantage of every sales opportunity. We addressed that at some length in a previous article – “5 Reasons Why Your Home Didn’t Sell” – check it out here. But there’s a bit more to it than that.

It’s one thing to think you’re getting a great deal at Nordstrom’s Rack when you see that $14.99-price tag. It’s another thing to be shopping for a home with a price like “$299,999.” (You just felt a little “thunk” didn’t you?) There’s a certain sense of ‘bargain-hunting’ that is out of place with all those 9’s in a home’s sales price. Even without setting a foot on the property yet, it’s enough to turn off many buyers because it feels dishonest and “cheap.” Just don’t go there.

On the other hand, while those last two numbers should always end in “00” – you don’t necessarily want tooooo many of them showing up in the rest of the price, either. You know that feeling you get when you’re at the grocery store and your total comes out to EXACTLY $20.00? Yeah. That almost never happens – and when it does, it’s pretty memorable. If your Realtor™ has performed an accurate price evaluation of your property, the odds of it coming in to show five 0’s in a row are just about as common.

The fact is, a sales price of $200,000 seems arbitrary – like you just plucked that figure out of thin air – and that makes your valuation suspect, to say the least. Stick with the facts, and base your final listing price on firm data.

3. There’s A Reason Why There’s A Home-Staging Industry

Buyers. Love. Staged. Homes. How do we know that? Those homes sell faster. Often by 50-70% faster. How’s that for an eye-opening thought? You don’t necessarily need to shell out the money to hire a professional stager – because these days, you can find a myriad of helpful tips online about how to do much of it yourself. But it does boil down to two things:

1. If you’re still living in the home during the listing period – consider renting storage space to streamline what furniture and belongings are on display. After all, you are moving, right? May as well take this opportunity to start packing and simplify the look of the house. It takes a good eye and a commitment to a bit of heavy lifting – but more often than not, it will pay off with a quicker sale.

2. If you’ve already moved out of the home – think about adding some furniture and accessories back into it, even if it’s only to stage the main living areas. For a potential Buyer, viewing an empty home is a little like making whoopie with the lights on (ack!) — i.e., every flaw is visible. (Unless you’re J.Lo.) PLUS, most people aren’t capable of fully visualizing the potential of space in a home when it’s completely empty. Help their imagination see your home for what it really is: The. Awesome. Place. They. Want. To. Live.

As we referenced above, your specific home has unique attributes that a professional Realtor™ will help you recognize and capitalize on to help you get to that fabulous trifecta of “Offer-Escrow-Closing.” But knowing these handy tips can help, too. If you’re planning to sell your home soon – we’ve got a lot more of them we can share with you. All you’ve got to do is ask us!

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!

Oh what a thrill! You sold your home! Now there are Big Plans to follow through, decisions to make, people to notify, boxes to pack, addresses to change……..oh, wait just a minute. What was that the appraiser told your Realtor®? Your home didn’t appraise for the full sales price?

Gaaaahhhhhh!

Okay. Now that you’ve had a chance to sit down and get over the initial shock of that news, let’s take a look at how to deal with it – and more importantly, some ways you can avoid it happening in the first place.

#1 – Heeding Advice.

You’re probably not going to like this part, but think back . . . when it was time to set the sales price for your home, did you insist on a figure that your Realtor® felt was too high? We’re not trying to say we told you so – but rather, provide some helpful advice for those who are planning to sell a home soon.

Your real estate professional knows the market, has pulled the comparable sales, and is aware of other homes that are currently listed. In other words, they’re providing their recommendation for a listing price based on facts – the same information that the appraiser will use to set the value. Most of the time, a homeowner is basing their opinion of the value of their home on how much they paid for it, how much work and money they’ve put into it, how much money they “want or need to get out of it”, and many other reasons that can’t really be calculated. The takeaway: Trust your real estate professional’s opinion on this matter. After all, you hired them specifically because of their skills. This is one of them.

#2: Frustration. (aka, “But the buyer is willing to PAY that price – so that makes it WORTH that amount!”)

If only. On one hand, it makes perfect sense, doesn’t it? We’ve all heard the term: “The Buyer sets the market.” But when it comes to real estate, that’s not necessarily the case. Homes, after all, are not Cabbage Patch Dolls. There are many more factors involved in real estate transactions that have to be taken into account – not the least of which is the amount of the mortgage loan. Lenders have a fiduciary responsibility to secure their real property loans, and that means we head straight back to (you guessed it) – the actual value of a home based on the market and comparable sales. The takeaway: The market sets the sales price when it comes to real estate.

#3: A Hot (or Cold) Market

Your market may be very active. In a rising market, low valuations are fairly common because appraisals are based upon sales that closed when prices were lower – and the reverse is true in a declining market. In other words: Sometimes appraisals can’t keep up with how quickly homes are selling in a hot market, so you’re bound to see lower-than-expected values placed on homes.

#4: Can You Do Anything to Avoid This Problem?

There are some steps you can take after the fact – but first we’d like to address a few things that you should do before the appraisal (and your Realtor® can help you with these).

• Get your paperwork in order.

o Before the appraisal takes place, gather all the information you have about your home and send it to your Realtor®.

o List all the major improvements you’ve made – along with details about the age and condition of the major systems – roof, HVAC, appliances, plumbing, etc.

o Provide the original permits for any do-it-yourself projects you did for the home.

o The takeaway: Hand every bit of helpful information you can to the appraiser ahead of time to ensure they have all the facts in their possession from the start.

• Prepare your home for company. Okay – that might sound a bit over-the-top, but we’ve said it before and we’ll keep on saying it: Your home never gets a second chance to make a good first impression.

o Think about it like this: A good appraiser isn’t going to devalue your home because it’s messy – but you know what? They’re human, too! A clean, tidy, dust-free environment is one extra way you can impress them with the (even if it’s subconscious) message that “this home has been taken care of and is in great shape.”

o The takeaway: It. Can’t. Hurt. Can we say this again? It. Can’t. Hurt.

#5: Is There Anything You Can Do After The Appraisal To Fix It?

After the appraisal has come back too low, discuss all the possibilities with your Realtor®. These can include (but aren’t necessarily limited to) the following – because every transaction has different details (and possibilities):

• Appeal the appraisal (referred to as a “Rebuttal of Value”). This is when the homeowner, the loan officer, and often the real estate agent work together to find better comparable market data to justify a higher valuation. Everyone gets to work looking for anything that helps the claim for higher valuation. It’s possible that perhaps the appraiser overlooked some comps that support your purchase value. The takeaway: It’s a hard fight – and if there is any way to avoid having to make it (like the steps listed above before the appraisal occurs) – do it.

• Order a second appraisal. But it will cost you. You’re not only paying for the first appraisal (in your closing costs), but you’ll pony up for any additional appraisals as well. They can range between a few hundred dollars and $1,000 depending on the area. If you find evidence supporting a different valuation and the original appraiser won’t consider it, this may be your next best option. The takeaway: It can be worth it – especially if the difference in valuation is considerable. Spending $1,000 to gain $10,000 is a good investment – but have your ducks in a row to ensure your chances.

• Negotiate. Sometimes, all it takes is a little bit of budging on both sides. If you’re lucky, that solves the problem. Your Realtor® may be able to arrange splitting the difference between both parties, or it may be necessary to renegotiate the agreement completely. The takeaway: Cooperation is key – and if there were negotiation issues where you gained up-front, consider revisiting those as persuading factors now.

• Let them walk away. It can hurt – but there are times that no meeting of the minds is possible. The takeaway: Again, make sure you’ve explored all the options with your Realtor®, and let their instincts guide you on this decision. It’s not personal, it’s business. One thing to keep in mind is that appraisals remain valid for 6+ months on certain loan types, so if you should get a new buyer using the same type of financing… you got it – – the previous appraisal amount prevails. This in itself should be a compelling factor to negotiate the deal you’ve got.

Just keep in mind; most appraisal companies offer a step-by-step procedure to follow if anyone involved in the deal thinks the valuation is off base. But this is one situation where following the Boy Scout motto to “Be Prepared” can help you head off a lot of frustration and disappointment after the fact.

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!

By Jennifer Riner, Trulia

Suffering through a long morning and evening commute is intrusive and can consume hours of your life every year. Unfortunately, work-related travel rose to 27.2 minutes in 2014 from 26.4 minutes in 2009 in the largest U.S. metro areas. Many Americans have taken the necessary steps to shorten their commute times, opting for apartments closer to work and placing low commute times at the top of their must-have lists, according to a Trulia study.

Renters have shorter commute times compared to homeowners in 43 out of 50 major metros, which adds up to one-and-half minutes per day, or 8.7 hours annually.

Cities with the Best Commute Times

Note: Census’ 2014 American Community Survey

While in some cities, renters fare better when it comes to getting to work efficiently, both renters and homeowners in Las Vegas benefit from low commute times. The average commute time for all Las Vegas residents is just 22.5 minutes, the fifth best out of all U.S. cities.

Las Vegas lessees have an average commute of 23 minutes, which is equivalent to Las Vegas homeowners’ commutes. If you’re searching for a home in Las Vegas, you’re likely to receive the same rapid work-related travel apartment dwellers get, as long as you choose a well-positioned neighborhood that’s not overly far from your place of employment.

How important are commute times to Americans?

According to Trulia’s analysis of Census data contrasted with an online survey by Harris Poll, Americans rank short commute times to work and access to public transportation second on their must-have lists – whether they opt for buying or renting in Las Vegas and beyond.

Millennial Americans are more inclined to search for apartments closer to work and worry about low crime rates after the fact. In the study, 22 percent of 18 to 34 year olds remarked that “shorter commutes to work” or “nearby public transportation” were more important than living in a neighborhood with low crime rates, while 14 percent opted for the latter as more pressing.

In Las Vegas, 95 percent of residents commute by car, while just 4 percent opt for public transportation. However, the Regional Transportation Commission of Southern Nevada (RTC) offers 38 routes and carried over 60 million passengers in 2015 alone. So if you don’t have a car in Las Vegas, you can still benefit from a low commute by taking advantage of public transportation options. Opt for apartments within close proximity of bus stops to make your morning and evening schedule a little less stressful each day.