Las Vegas Real Estate News and Tips

How a Home Appraisal Works for SellersFor most sellers, a home appraisal could be an important part of the home selling process. If the buyer plans to obtain financing from a lender, they will typically require the appraisal amount to be equal to or greater than the sale price. The results establish a home value relative to the neighborhood and the sale of comparable homes in the area. Knowing what to expect from the process can help sellers understand how the appraisal could affect the home sale.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

How Do Appraisals Work?

Once the buyer and seller have agreed on the details of the purchase contract, the buyer's side (usually the lender) usually orders the

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How to Take Pictures for Your Home ListingThe photographs that home sellers use in their listing can help sell their home. The better the pictures, the more buyers the listing may attract. If you're selling your home soon, and whether you take the photos yourself, your agent takes them or a a professional photographer is used, here's what you need to know.

Throw Out the Fuzzy Ones

Poor quality pictures can detract from the beauty of the home, and may even stop buyers from coming to see your property. Sort through all pictures and delete or throw out pictures that are blurry.

Clean Up First

Before taking pictures, home sellers need to clean up inside and outside the home. This is also the time when the home seller should make any cosmetic changes they plan to make before selling

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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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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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