Las Vegas Real Estate News and Tips

Reverse Mortgage Information for HomeownersThere are many types of home loans available to homeowners who have equity in their home, and a reverse mortgage is one of these loans. Understanding reverse mortgages and how they work can help homeowners who qualify to decide whether or not a reverse mortgage is for them. If you're a homeowner seeking a funding source or extra money to live on, here's what you need to know about reverse mortgages.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What Is a Reverse Mortgage?

A reverse mortgage is a type of loan available to homeowners who are at least 62 years old or older. In order to be eligible, the senior must own their own single family or

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Las Vegas Housing Market Update - December 2018

The Las Vegas MLS offers 6688 single family homes for sale today. Condos, high rise properties and town homes add another 2025 options. Buyers can choose from 8713 homes in the Greater Las Vegas Real Estate Market. It’s a slight drop compared to 8831 homes for sale in November. It’s a big increase compared to the 4929 homes for sale a year ago. It’s a 73% increase year over year.   We sold 2147 single family homes in December. We sold 573 condos and town homes. Total homes sold in December was 2720. In spite of the increased number of homes for sale, we sold less than the same month last year. There was an 18.2% drop in the homes sold December 2018 vs December…
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Las Vegas High Rise News - December 2018

Buyers have 357 high rise condos available this month. Basically unchanged from 359 available last month. Higher than the low 300s we dropped to before October. It’s similar to the 354 high rise condos we had available in December 2017.   We sold 45 high rise condos in December. That’s a drop from 52 in November and 70 in October. It’s a big drop from the 77 we sold in December 2017. Hopefully, the sales volume in the high rise market will pick up as we get in to our busiest convention season.   Top Sellers in December - MGM Signature was first place with 7 condos sold. Second place was a tie between Juhl, The Ogden and Trump with 5 condos sold in each community. Allure
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4 Ways to Evaluate a Purchase OfferOnce a home has been listed for sale, sellers should be ready to look at any purchase offer they receive from a potential buyer. Buyers often include a variety of details in the offer that could be beneficial to the buyer or the seller. People who get several offers at the same time may need to evaluate them quickly and make a decision. This guide identifies common features of purchase offers that sellers should look for, and what they mean for the transaction.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

1. Price

One of the first things sellers look for is the price of the offer. Although this may be the most important aspect of the contract,

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Tips for Writing a More Competitive Purchase OfferThe home purchase offer is generally the first official communication between the buyer and seller, making it a document that buyers should take seriously. Now is the time to think through both the terms and contingencies if the home buyer ever hopes to make it to the next step. With your real estate agents assistance in creating a home purchase offer, most buyers will go make more than one offer, meaning they have a little leeway to experiment with trial and error. However, it's still important to understand how to write a solid offer in case the buyer spots their dream property early on in their journey.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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All About Fixed Rate MortgagesWhen the time comes to get a mortgage, many home buyers are faced with the question of whether they should get a fixed rate mortgage or an adjustable rate mortgage. Knowing the difference between these two mortgages can help the home owner determine which type of mortgage is right for them.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

What's a Fixed Rate Mortgage?

A fixed rate mortgage is a standard mortgage with a fixed interest rate. The interest rate does not change over the life of the loan. Whether the mortgage lasts for 15 or 30 years, the homeowner will always make the same monthly payment until the loan has been paid off.

What are the

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Red Flags When Home SellingSelling a home can be stressful, especially if the buyer is difficult, demanding or unprepared to purchase a home. Homeowners who want to have a positive experience selling their home must be aware of the warning signs that a buyer might potentially be a problem. Once the seller is locked into a contract with a buyer, backing out of the deal can be difficult or impossible. Here's what you need to know.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Excessive Contingencies

Contingencies are conditions that enable the buyer to back out of the contract without losing earnest money. There are three types of contingencies that are typically included

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4 Red Flags All Home Buyers Should KnowBuying a new home is a big decision in anyone’s life, and all home buyers want to make the process run as smoothly as possible without any hiccups or setbacks. One way buyers can help ensure everything goes as intended is by keeping an eye out for red flags. But just what are the red flags home buyers need to know? Here are some of the different red flags buyers may encounter when looking for their next home and what they mean.

1. The Listing Has No Photos

Online listings are extremely important when trying to sell a home. These listings are going to be most buyers’ first impressions, so it’s essential to make sure they put the home’s best foot forward by posting plenty of photos and information. This is why if a listing doesn’t have any

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How to Choose Between 15-Year and 30-Year MortgagesWhen potential home buyers begin to research mortgages for buying a home, they are confronted with a lot of different and possibly confusing words or contract terms. One of those terms is the length of the mortgage. The length of the loan is an important decision to make. Although there are mortgages with a variety of term lengths, 15 and 30 years are the most common. Home buyers should understand the differences between these loans, how they can affect the monthly payment and the way the loan is paid off. This comparison will help buyers make a more informed decision about their mortgage options.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Monthly

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Buying a Home: Understanding Mortgage Interest RatesPeople in the market to buy a home may notice changing interest rates in the news - especially in todays rising interest rates environment. Since interest rates tend to rise or fall slowly over many months or years, home buyers may have difficulty understanding why experts concern themselves so much with the issue. In fact, interest rates can often dictate part of the housing market's health, including home prices and what a homeowner may have to pay for a mortgage each month. Because of this, home buyers should understand various aspects of mortgage interest rates, and how they can affect the mortgages people can get to buy a home.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any

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