Las Vegas Real Estate News and Tips

Start to a Home-buying BudgetIt pays to not get more home than can be reasonably afforded. A home-buying budget can help create a financial cushion when first purchasing a home, making it easier to make regular mortgage payments and upgrades to a home. Know how to get started on a realistic home-buying budget today.

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

Review Current Expenses

When buying a home, the amount of debt to an applicant's income will be of interest to lenders. Before looking for a mortgage lender, review your credit history, credit card and banking statements over the last three months. Assess how much money generally goes towards expenses like:

  • Car or
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Las Vegas Housing Market Update - June 2019

As of today we have 7877 single family homes listed for sale in the Greater Las Vegas/Henderson area.  Condos and town homes offer 2555 additional choices.  Total homes for sale today is 10432.  That’s only a hundred more than last month.  It’s a 45% jump from the 5670 homes for sale in July 2018.  

We sold 2904 single family homes plus 767 condos and town homes.  Total homes sold in June was 3671.  That’s an 8.1% drop from May and a 12% drop from June 1028.

The median home price was flat for the past three months.  It finally edged up slightly in June to $304K.  That’s 1.3% higher than the $300K where it hovered for March, April and May.  It’s 4.8% higher than June 2018. 

Over the past year we’ve

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Las Vegas High Rise News - June 2019

We currently have 416 luxury condos for sale in our top buildings.  Down from 462 last month but up from the low of 311 in July 2018.   

We saw a dip in sales for the month.  Only 37 condos changed hands in our top buildings.  Down from 61 last month and the 85 we sold in June 2018.

Top Sellers in June - ONE Las Vegas was the most active community.  They closed escrow on six condos.  All six were “developer” units.  Second/Third place was a three way tie between Turnberry Place, The Martin and MGM Signature.  Each of those communities sold 4 condos in June.

Highest Prices in June - We sold four condos for more than $1 Million, two of those were just under $3M.  

Top price was Waldorf Astoria #4607. 

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Accepting a Cash OfferWhen a homeowner is looking to sell their home, especially in a sellers market, they may get multiple offers, including those involving cash offers. While many buyers are financing their home with a conventional loan, a few may be able to make an offer in cash. What does this mean for the seller? Is a cash offer a better route than working with buyers financing with a lender? These are only a few questions that pop up when getting such an offer for the first time. Understand more about what happens when accepting a cash offer on a home.

What Is a Cash Offer?

A cash offer is an attractive option for many sellers. In fact some will accept a lower cash offer over a higher offer made with financing. An all-cash offer is one in which a buyer does not

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Seller Financing GuideNot every seller is in the position to offer seller financing, but those that do can benefit from a sizeable return and may be able to close on a home faster. This can be a useful option for those wanting to sell in a market with stringent credit requirements for buyers. It is important for a homeowner to consider whether seller financing can be a practical alternative and if it is possible to take on the responsibility of financier. Understand more about seller financing and when it is a useful choice to sell a home.

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

What Does Seller Financing Mean to the Homeowner?

Not everyone can assume a lender's

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4 Things You Need To Know About Historic HomesMany people dream of owning a slice of history, and that can be done fairly easily through buying a historic Tuscany home in Henderson NV. A historic home is defined as a home that is associated with a significant historical event or was significant to a historical figure’s past, is distinctive in its construction, and gives insight to the time period that it was built in. Buying a historical home can seem amazing on the surface, but there’s a lot more to it than just signing on the dotted line. Here are some of the most important things buyers need to know about historical homes before making an offer so they can decide if it’s truly for them.

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

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Age-restricted Community BasicsActive adults that have more home than they need may be looking to buy a new home to meet their current lifestyle. It can be useful to find a home that will provide the support and community needed in the next stage of life. The age-restricted community is a great idea for some who are looking to make a change.

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

Gain Access to More Amenities

An age-restricted community can provide residents amenities such as game night, community pools and a private golf course. Much depends on the type of community and how is it run by the HOA. This can be a nice alternative for social adults that want to stay active.

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4 Common Mortgage Mistakes Buyers MakeVery few people have the means to buy a home with cash only, and that means in order to buy a home, most people are going to need a loan. Because loans are so important to buying homes, it’s important that buyers make sure they don’t make any mistakes when applying for and using them. However, it can be easy to make mistakes, especially for first-time home buyers who haven’t dealt with mortgages before. Here are some common mistakes buyers make regarding mortgages and how to avoid them.

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

1. Going With the First Lender

There are many, many different lenders out there, and each of them offers different rates

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Buying a Home? What You Need to Know About Pre-Approval and Pre-QualificationPre-qualification and pre-approval are both a part of the mortgage application process. All home buyers who apply for a mortgage must go through these processes. To show they are able to qualify for a mortgage, most buyers will start the mortgage application process before making an offer on a home.

If you're thinking about buying a home, it's important to know the difference between pre-qualification and pre-approval. Knowing the difference can help you decide what you need to do in order to make a competitive and attractive offer when you find a home you wish to buy.

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

What Is Mortgage

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How to Pick a Kitchen Countertop Material That's Right for YouThe kitchen counters are a major feature in the room, making it important for homeowners to consider a few types of materials before settling on one. Before deciding, they need to consider how much time they spend in the kitchen, what types of meals they prepare, and how long they plan to own the home before selling. For those getting ready to start a DIY project or hire a professional to add or redo countertops, keep the following in mind about the many colors, patterns, and textures available on the market.

Granite

Granite is a smart choice for homeowners who want to increase their home's resale value. The elegance and luxury of granite are instantly apparent to potential homebuyers, even if they don't consider themselves to be serious

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