Las Vegas Real Estate News and Tips

Common Real Estate Terms to Know Before Home ShoppingShopping for a new abode is exciting, but potential Green Valley buyers need to know what they are delving into by knowing a few basic terms before even looking. This ensures that what is being looked at is understood, as are the processes that one will undergo to seal the deal after finding the home they've always wanted. Here are some key terms home shoppers need to familiarize themselves with.

Common Terminology When Shopping and Negotiating for Homes

While this is just the tip of the iceberg, here are some terms to understand when looking at homes and trying to negotiate offers.

Listing Abbreviations—As you search through home listings, there are some basic terms and abbreviations you'll want to know.

  • SQ FT: Square footage of the
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5 Things to Know About Late Mortgage PaymentsMaking a late payment could happen to almost anyone. However, late mortgage payments can have serious consequences to a person's credit score and finances. Homeowners have a few options to handle a late payment, depending on the cause. People should know what constitutes a late payment, and how it may affect their credit or their ability to repay the loan. With the answers to these questions, homeowners will be able to identify problems related to late mortgage payments, as well as how they can address them.

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

1. What Is a Mortgage Grace Period?

Most mortgages include a grace period in which borrowers can make

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Everything You Need to Know About Choosing a Home TypePeople live in all different types of homes. Some people prefer to live close to their neighbors, in small, efficient condos. Other people prefer townhouse life, where they can have an upstairs and downstairs on a shared property with others. Knowing the difference between each type of residence can help home buyers decide which type of home is right for them. If you're a property buyer, here's what you need to know.

Differences by Type

Before home buyers can decide what kind of homes are right for them, they must first understand the various options. Below are the different homes by type.

Single-Family Homes

Single-family homes are standalone structures, often with a yard and a garage or car port. Single-family homes sometimes have

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Difference Between Wood and Brick HomesWhen the time comes to select a home to buy, especially for those on a home buying budget, many buyers look for what is available in their area, rather than looking for a home made from a specific type of material. However, in markets where many homes are available, buyers may have their choice of stick or masonry homes. Before a decision can be made, homeowners must consider the pros and cons of each type of house.

Stick Home, Pros and Cons

"Stick" is the word that people use to describe homes made of wood. Stick homes are common in all areas of the country, as wood is a relatively inexpensive and easy-to-use material. There are many pros and cons of stick homes.

Pros:

  • Budget-friendly. Stick homes are often preferred by people who have
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How to Keep Your Fireplace as Efficient as PossibleA fireplace can be a major benefit for any home, especially for those homes that might be for sale. However, a fireplace can also be a potential hazard that can end up causing headaches or even a rapid-spreading disaster. To keep the fireplace functioning the way it was intended, homeowners will need to commit to regular maintenance and safety guidelines.

Limit the Smoke

A fireplace may have been the home's primary source of heat at one time, but homeowners should not be treating it as their furnace anymore. Experts recommend no more than five hours of continuous burning. Homeowners can also limit the amount of smoke by cracking the window. Even in cold weather, the majority of the air from the window should travel up the chimney rather than

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Does Your Home Need Professional Gutter Cleaning? How To TellGutter care is an important part of home maintenance - they are not something that you should defer cleaning. If you're a new homeowner, here's what you'll need to know about taking care of your home's gutters.

Why It's Important to Clean Gutters

Gutters are designed to carry water away from the home. Without a proper drainage system, water can saturate the ground around the home, or may seep into the home's roof and walls. If water saturates the ground surrounding a home's foundation, the earth around the home may heave during freeze/thaw cycles, causing costly foundation damage.

If water leaks into the walls or attic of a home, this could lead to mold, wood rot, pest infestation and other problems. Cleaning the gutters can ensure that water

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How to Find the Right Price for Your PropertyWhen the time comes to sell your home, it's important to price the home right. If the home is badly priced, either too expensive or too inexpensive, you may lose money and take a long time to sell. Understanding the dangers of incorrect pricing, and working with a real estate professional to price your home correctly, can help you have a successful home-selling experience.

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

Dangers of Over Pricing

Buyers tend to look for homes within a certain price range. They avoid going too far above or below their price range, because budget is important to them. When buyers look at homes in a price range, they compare

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Explore the Home Closing ProcessFirst time homebuyers may not know much when it comes to closing on a home. Time can easily get away from buyers busy with arranging a move and getting everything in order. Knowing more about the closing process can help mitigate challenges and allow a buyer to get everything in place for this last part of the home buying process.

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

Home Closing: The Final Hurdle

A buyer is now getting close to the end of the home buying process at this point. In the majority of cases, buyers are financing their purchase, necessitating the involvement of a lender. Home closings are generally faster and with few, if any,

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What To Put On Your Home Wish ListWhen getting ready to look for a brand new home to buy, most buyers already have an idea of what sort of features they want, and it could be anything from hardwood floors to a big yard with a patio. Before buyers go to home showings, they should put together a home wish list to organize everything they want and have an answer for all the questions their agent will ask when trying to find them the prefect home. Here are some things to consider when making a wish list.

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

Wants and Needs: How to Differentiate Between Them

Many people are familiar with the term “wants versus needs” and how it’s used to organize

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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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