Posts in category: Home Buying

Finding A Neighborhood With Great Schools

If you have children, or even if you don’t yet but plan to in the future, schools are something you will need to take into consideration when you search for a new home.  In most areas, certain boundaries define which schools your children will go to, and switching to a different school can be complicated and expensive in many cases.

Fortunately, finding a great neighborhood with good quality schools is not difficult, thanks to the internet.  Online ratings and reviews of schools can help you to make the right call when it comes to finding a home that will offer your children a quality education.

Start With The District

The first thing you should look into is which school district you in which you are considering moving.  Find out if the schools in that district tend to be highly rated, and what kind of test scores are generally seen among students in the district schools.  All of this information is readily available online.

The school district Web site will be able to tell you which school your children would go to if you were to buy a particular house.  There is usually a boundary map you can check, or you can enter your address and search to find out which school is the right one.

Check The Reviews

The internet allows us to review everything from appliances to doctors, and schools are no exception.  Search for your school of choice online and you will find plenty of reviews from parents whose children have attended the school.  Getting an unbiased opinion of the school will help you to get an idea of what you can expect.

When You Love The Neighborhood, But Not The School

If you really want a particular house in a particular neighborhood, but aren’t too happy with the schools, you can look into your other options.  Most school districts have a system by which you can choose to send your child to a different school.  This usually involves either particular needs that can’t be met by the in-area school, or a fee or lottery system to allow your child to attend the school of your choice.  Find out what the rules are in your school district.

Your other option is to look into private schools.  This is, of course, the more expensive choice, but should you select a private school you will have the freedom to live wherever you like, without worrying about what school your child will be slotted to attend. You can find additional local schools and community information at http://www.hendersonrealtynow.com/mimarket/zip/89074/

Current inventory on the Las Vegas market is quite low today,  which has caused a home-buying frenzy unlike we’ve seen in years!

Any given property today will REGULARLY have multiple offers within days of listing, and often sell for MORE than the listed price!   

What’s a buyer to do?   First and most importantly,  get your loan prequalification.   Every offer today requires “proof” that you can buy the property so getting in order your financing is truly step #1 of this process.     I like to suggest Cheryll at Premier Mortgage Lending to our buyers because her lending knowledge and level of service is just flat-out amazing.    You can reach her at Cheryll@PremierMortgageLending.com.  

Then, get yourself a Realtor that specializes in buyers, like an agent from  New Home Resource!   We understand the market, have excellent relationships with many listing agents,  and utilize all of the necessary and cutting-edge programs to produce offers & get your signatures.  In this craziness, you can’t afford to have any delays – for any reason.   Acting quickly is the best plan!

   And last, but not least, make your strongest offer first.   Remember that there is much competition,  and you don’t want to lose the home of your dreams over a few thousand dollars.   Your New Home Resource agent can help you decide upon the most appropriate offer for the property.   

Don’t hesitate – with prices and interest rates at all-time lows, TODAY is the time to invest in a new home!!

Buying a home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating.  The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future.

Credit Blemishes

When life unexpectedly takes a turn for the worst, it’s not always possible to come out without a few bumps and bruises.  Every day, people are faced with late or missed credit card payments, mortgage foreclosures, bankruptcy proceedings, auto repossessions and even civil judgments that will affect their credit reports for years to come.  Whether it’s from a job loss, injury or just a simple case of temporary hardship, credit blemishes are often a part of life.  The good news is that they no longer have to prevent you from becoming a homeowner.

Give Yourself A Little Credit

After experiencing a credit problem, most lenders will want to see an attempt to rebuild your credit through a steady payment history with a new account.  This can be accomplished by applying for a credit card and maintaining a responsible use of the account.  If you aren’t approved for an unsecured card, you can always apply for a secured credit card.  Either will rebuild your credit over time and will help to show lenders that your past credit problems are just that – in the past.

Clean Up Your Credit Report

Before applying for a home loan, make sure that you check your credit report from each of the three major credit reporting agencies.  Every 12 months, consumers can request a free copy of their credit report from Experian, Equifax and TransUnion.  If anything is incorrect or found to be inaccurate, filing a dispute with the credit reporting agency can help to get the information corrected before speaking with a lender.

When you apply for a home loan, the lender will access your credit report for the purpose of determining your creditworthiness.  In an effort to ensure that you have the best possible chance at being approved for the loan at the best possible interest rates, making sure that your credit report is accurate is a must.

Save Up For A Down Payment

Some homebuyers often qualify for a mortgage with down payments as low as five percent (three percent for FHA loans), but those with past credit problems may be required to shell out up to 35 percent or more for a down payment on their new home.  A buyer who pays a larger down payment obviously has more vested interest in the home and may, thereby, be less likely to default on a loan.  If you have past credit problems, check with your lender about specific down payment requirements and start saving!

Creative Financing Options

If you’ve exhausted all of your conventional efforts and are still turning up empty, don’t give up just yet.  Alternative financing is an option that many homebuyers use to purchase a home.  Your REALTOR® can provide you with details regarding any lease purchase and/or owner financing properties, which may require no credit check, no bank qualifying, a low down payment and competitive interest rate options.

A new home purchase is one of the largest investments a person will ever make.

A Home Warranty is simply a service contract.  It helps to safeguard homeowners against the high cost of repairs or replacements to the major mechanical systems and appliances that fail due to normal wear and tear.    A home warranty offers the convenience of one source for most repairs,  so that you can avoid the hassle of finding a service contractor in your area.     When a covered system or appliance breaks down, all you need to do is contact the warranty company to report the problem!      A qualified, pre-screened service technician will contact you to schedule an appointment that works for you.  You can request service 24 hours a day, 7 days a week.  It’s that simple.

On average, homeowners/contract holders will have 2 service calls per year, saving them hundreds to thousands of dollars on repair/replacement costs.  See below:

Have your agent help you arrange for a home warranty at closing.       Sometimes even the seller will pay toward the warranty cost!!

This information comes to us, courtesy of HSA Home Warranty Company 🙂

Whenever I make a purchase from eBay, I always read through the seller’s “Feedback” before committing to buy.   I need to know if this seller is slow to ship, regularly does a terrible job in describing his product, or is a flat-out thief.   My purchase of that item is going to be heavily-weighted based on what I read.    Frankly, the feedback may determine if I even bid on that product,  or move onto the next guy’s listing.     I’ll even pay MORE money for the same product with an eBay seller whose feedback is stellar.   Ever done that?

When I visit Amazon or Zappos (oooh, my favorite!), I always look at the product reviews.   Does this item run small?    Color not quite as pictured?   Knobs have a tendency to break off within days of the purchase?    Again, my decision to buy that item is going to be heavily-weighted by others’ experience.   I have so much more confidence going into the purchase if by reading others reviews,  maybe I can predict the outcome to some degree.

The same should be true of your real estate agent!   This person is going to be super-instrumental in assisting you with one of the largest commitments of your life!    Whether you’re in investor buying a small  condo, a first-time buyer falling in love with your first home,  or making a multi-million dollar purchase of property, land or even commercial space, you want and need to know if your real estate agent is worthy of your business!!

Google your agent!  Does this person have an internet presence?    Are they unknown?     What do others have to say about their service?    Remember that nothing and no one is ever perfect (how many shades of orange can there BE in a handbag??), but hearing what others have to say BEFORE jumping in surely gives you the confidence you’re making the right choice. 

We LOVE your reviews – keep ’em coming!

Never before today in my real estate career have I encountered so many folks who are buying property, sight unseen. 

In today’s busy, busy world of real estate purchases, more and more out of state and foreign buyers are wanting to invest in the Las Vegas housing market.  I personally think NOW NOW NOW is the time to buy!  I could be wrong, but just live daily around these incredible prices,  and I can’t help but  think we should all be gobbling It up like candy.     

I’m apparently not the only person who feels this way about Las Vegas real estate 🙂

However, this concept becomes an issue for buyers not living in Vegas – how can they jump on the “purchase today” bandwagon  when they aren’t here to physically visit the home and consummate the purchase?    

Hire a stellar Realtor, that’s how!!  

You need to work with a Real Estate Agent and agency you trust to provide you with all the information available about the property.    One who directs you to websites where you can learn about the area schools, the amenities,  and the crime statistics/rates.  One who responds to your emails and phone calls.    Develop a trust and rapport with your Realtor and together, you’ll put together the deal that works best for you. 

Buying real estate isn’t a simple task, whether or not you live in Las Vegas or Timbucktoo.    Enlist the help of a New Home Resource agent and you won’t go wrong !

As Realtors, one of the first things we do is make sure the buyer in our car has the ‘ability’ to buy:  either they have cash funds to purchase, or they need financing.   Buyers who’ve had a short sale or a foreclosure often think it’s the end of the road for them…. that due to their impaired credit,  they’ll not be able to buy a home for several years.     Well, look no further!      

Las Vegas-based company Premier Mortgage Lending is able to help homeowners who’ve had a recent short sale or foreclosure, and get them into a home – – at today’s incredibly low prices!      The buyer must qualify with at least 20% down and a stable job, regular income and debt ratios that work with traditional loan types, but credit may be overlooked.      Premier Mortgage offers a free prequalification service – – if you or anyone you know has impaired credit, but does have a stable job, regular income and at least 20% down, please urge them to call Premier Mortgage Lending today at 702-485-6600.

Wow!    What a time to buy a house!   Do you realize that today’s interest rates are below 5%?   This is an incredible time to buy!      If you’re renting for $1,000 per month, at today’s rates,  you could spend that same $1,000 on OWNING a $200,000 home.    Call New Home Resource today and let us help you BUY your dream home!!

Above is based on:

$200,000 sales price

$40,000.00 down payment

$160,000.00  loan amount

 $998.00  PITI/assuming taxes at 166.00 and insurance at 40.00

4.25% interest rate/4.306 APR

As agents, we are seeing much more success with gaining approvals on short sales.    And, in fact, the approvals have been  coming much faster than in the past.  

There once was a day when we’d cringe when a buyer would ask to see a short sale listing.   With a success rate of only 15% after a 9 month wait, it was no secret that short sales were ones to avoid.   But today, the success/approval ratio is much higher – and wait times much shorter!!

At new Home Resource, we can help you a buy  a short sale.        As a “Certified Distressed Property Expert”, I can help you list and sell your property.   Contact us today at 702-365-1000 or Info@NewHomeResource.com.

         NOW is the time to take advantage of the Foreclosure market!!

 As most of us are very much aware, property foreclosures are on the rise across the nation, presenting significant financial opportunities for investors real estate, first time home buyers, and those looking to move up within the real estate market.

A foreclosed property refers to a piece of land or real estate that has been repossessed by the mortgage company or financial lender. During the foreclosure process, the financial institution searches for interested buyers.  In the event that an interested buyer does not wish to invest in the property during the initial stages of property foreclosure, the property will go to auction where it will be sold to the highest bidder.

So, how can you benefit from the current foreclosure market?

Foreclosed properties are often offered at prices significantly lower than fair market value, offering strong financial opportunities to individuals and investors.  Investors can purchase foreclosed properties to resell or rent for an immediate income.  First time home buyers can often purchase a larger or nicer property.   And individuals who are looking to move up within the real estate market can often find a larger property at competitive prices, allowing them to purchase a larger property than they originally anticipated or to buy their dream property at a reduced price.

Whether you are a real estate investor looking to flip properties for a profit, or an individual searching for their first piece of real estate, or looking to move up in the real estate market, foreclosed properties present an ideal buying situation.

New Home Resource, with our years of experience and knowledge of local markets, has the expertise required to help you navigate through the foreclosure market, explaining each nuance along the way.

We look forward to the opportunity to work with you on purchasing a foreclosed

property. Give us a call today.

Penny A. Womack,

Realtor, SFR, ABR