Posts in category: Home Buying

To close out our seven series blog session, it is important that buyers understand that Realtors® are on their side. With the knowledge, experience and connections that your Realtor® has, they can make your home buying process so much better. If you are falling into this series late, just click here for our first home buying myth busting article.

Myth #7: Buying real estate guarantees appreciation…

A buyer used to be able to purchase a home and plan to live there for 30 years and pay off their mortgage. This turned into a great investment for that buyer because the home appreciated. Today, buyers are shopping in a different world.

With all the access to information and the use of technology, people just don’t stay in one home as long as they used to. Also, people are waiting longer to settle down and get married, therefore owning one or two homes before staying in one spot.

If a buyer cannot commit a minimum of 5 years when buying a home, it may be more beneficial to rent until they are ready to settle down. It is important to remember that making this purchase is buying a home first and an investment second. Buying a home does not guarantee appreciation.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

In the real estate business we are competitive and sitting on the sidelines is not listed in our expert strategies. Much like myth number 6. If you still believe that a loan can’t compete with a cash buyer you are simply benching yourself.

Myth #6: A buyer with a loan can’t compete with a cash buyer…

Before making an offer on a house, a buyer should have their mortgage pre-approval and finances ready to go. This way, the buyer can offer a shorter window of approval and making an offer before a cash buyer has a chance.

Cash buyers have the upper hand when it comes to eliminating some of the risk of loan approval for the seller, but cash buyers are usually expecting a discount. In that case, a buyer with a loan could counter and offer to pay more. No, not over-pay; simply pay market price, which the cash buyer won’t often do, and therefore securing the property.

Most importantly, people do business with people. When a seller is faced with two similar offers, the buyer who really wants to make that house a home and have a clean solid offer could beat out an all-cash investor.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

As we all know, most things about traditional home buying have gone out the window. This includes what we all know as a down payment. Traditionally, homebuyers took a 30-year-fixed loan and put 20 percent down and that just is not the case anymore.

Myth #5: A buyer must put down 20 percent to get a loan…

This rule has become a myth over the years, it was originally true. Times have changed and with that, home values have increased and new loan products have been created. Today, instead of putting a full 20 percent down, the FHA loans allow as little as 3 percent down. These types of loans are somewhat more difficult to obtain but are available to borrowers with strong credit and income.

Of course, buyers should always double check that their rate and payment is manageable in the long run. If you ask your Realtor® they can refer you to a home loan expert to explore different loan options, such as Premier Mortgage Lending.

Premier Mortgage Lending is known as Nevada’s Local Low Price Leader in home loan financing offering no fees and low rates. As a private lender, Premier Mortgage Lending saves you thousands in closing costs and finds the loan program the best meets the buyer’s needs.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

When buying a home, it is a rollercoaster of emotions for the seller, buyer and real estate agents! One of the most difficult steps is agreeing on a price. Most buyers will try to “shake” down the sellers and more sellers will try to “strong arm” the buyers, leaving it up to the Realtor® to rightfully negotiate.

Myth #4: Always leave room for negotiation after inspections…

This myth pretty much explains that a buyer should leave room to negotiate after the property is inspected, right? Wrong! Doing this could ultimately NOT turn out in the buyers favor.

Many sellers in today’s market will better their home before actually listing the property. The leaky roof, the broken floorboards, etc. will usually be fixed before a buyer makes an offer. When a buyer plans to negotiate price after the inspection and it comes out flawless, the buyer is in trouble! A seller with a great home and clean inspection is not likely to negotiate again and will not take the buyer seriously.

Realtors® should advise buyers to be comfortable and happy with the price offered. In some cases, the inspection will have its faults and some credit might come back to the buyer, but that is not something to count on. It simply wastes time.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

In the world we live in today, many things are unpredictable, especially when it comes to the housing market. It used to be said that there were good times to buy a home and bad times to buy a home. Now, with the excessive use of the Internet, buyers are shopping the housing market 24/7/. This brings us into our third week of Home Buying Myths.

Myth #3: The best time to buy a home is in the spring or fall…

For many years now, real estate has been said to revolve around the school schedule. Parents wanted to buy a home during the summer months so their children could be settled in before school was starting up. That is where the myth started, that spring was the best time to buy, summer was normally slow and fall brought around a new opportunity for buyers and sellers.

In reality, pulling away in the winter and summer seasons does not benefit buyers or sellers. Serious buyers are looking at the market all the time, especially when they are in demand for it, which could be during any season.

Shopping in the middle of winter or the heat of summer could bring amazing opportunities to those buyers determined enough to find their new home. In this day and age, an aggressive buyer can acquire a great home during any season, especially with less competition during summer and winter.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

Buying a home should be exciting and full of “This is a dream come true” moments. Sometimes, the unruly myths that get spread about the home buying experience cloud those special moments. The second myth in this series of seven is in a whole different area than myth #1 “Working directly with the listing agent will get the buyer a better deal…” but still ties into the importance of having an experienced Realtor®.

Myth #2: Buyers should never offer full price…Every real estate market is different, as is every sellers approach to pricing. It is nearly impossible to have a strategy for pricing and negotiating with this ever-changing market. Many times, when sellers put their property on the market they will price their home right at or just below the market value. This is a great way to get many buyers interested. When buyers ask too far under the market value, sellers will not budge. In this circumstance, the seller will probably have accepted an offer before that lowballing buyer finds a new home.

In some markets a seller may price their home over the market value and wait. In this scenario a buyer might overpay for the home. This is a great reason why your experienced Realtor® should be involved in the pricing and negotiating process.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

There are many myths that have been around for generations when it comes to buying a home and it is unfair to the buyer and the Realtor® during the process. This will be the first blog in a series of seven in order to educate and explain the “truths” behind these home-buying myths.

Myth #1: Working directly with the listing agent will get the buyer a better deal…

As a buyer, it is to your benefit to research homes in your area for sale, what exactly you are and are not looking for, your price range and many other aspects into your home buying process. This research, however, is not enough access to fully know what is available. By going directly to the listing agent and cutting out the buyer agent, the buyer is only hurting themselves. A good real estate agent is there to track the process, be an extra set of eyes, and uncover unknown knowledge in the buyer market.

Another downfall to buying straight from the listing agent is that “Buyers don’t know what they don’t know”. Realtors® know what to ask, they know different values to look for and they have access to so many helpful things. Buyers, in the end, save little to no money by NOT using a Realtor®. The Listing agent would simply make double the commission.

When working with their own Realtor®, the buyer gets an advocate, an inside look at the market and a trusted advisor to represent their best interests for no extra cost.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

Your real estate agent is your best asset when looking for a new home. Just by talking with you and discussing likes, dislikes and “must haves” they know what areas and types of homes you are probably looking for. That being said, we are all human. If the first house you look at is not what you want, say something. If the area suggested is not where you want your family growing up, say something.

There are many common courtesies that get lost in the home buying process. The first and foremost is punctuality. Realtors® work to accommodate buyers because their jobs are completely centered on satisfaction. If you are going to be late, have prior engagements or no longer wish to work with the suggested Realtor, all you have to do is call. Respect is key in such a relationship-oriented business.

Don’t think your home needs to have a “love at first sight” affect. Sometimes the curb appeal can throw you off, leaving a bad taste for what the layout and floor plan will look like. Try not to “judge a book by its cover” when looking at houses and have an open mind. What might look rough on the outside could be exactly what you’ve been dreaming of on the inside!

Don’t get discouraged when the homes you find online have already been sold or are higher than the listed price. If you have an open relationship with your Realtor®, he/she will to their best to get you the best home you can find! Remember real estate agents work for you and it is their job to help, support and meet your needs. If there is respect between all parties, the home buying experience will not only be successful but exciting as well!

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

Is it time to sell your home? Do you already have a price in mind? It really does not matter what you or your listing agent thinks the house is worth. Did you know that the buyer actually determines its value and eventual price? Pricing a home is more than just estimating, it is comparing similar homes for sale, tracking the market and documenting present inventory.

The problem with pricing your home too high is that it won’t sell. When it doesn’t sell people tend to switch listing agents and the home is priced lower. At this point the price is still too high and your home has been on the market longer than expected. Bringing in a third agent, who does research, compares and analyzes the market and home prices in the area, your home now even lower, and it finally sells. Because it was on the market for so long, the selling price is lower than what you originally could have gotten for it. This is where the importance of the advice of your listing agent comes into play!

Don’t always go with the agent who suggests the highest listing price. Good listing agents want you to get the most money possible out of your home sale and know that there are many factors that go into determining a price. The range of pricing will be determined by location, temperature of the market and improvement needed to the house. If you are determining which agent to use and can’t decide between a few, ask for a track record. Most likely, the agent with the lower fees will show more price reductions and a longer time on the market!

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

1. One of the most common “sayings” that continues to pop up is Shop Around. Get multiple quotes for homeowners insurance before deciding. You want to make sure that you are getting the best savings. We suggest getting at least 2 different quotes before committing to one.

2. Your house and its contents are all that is covered in a burglary, fire or (natural) disaster, not the land. Insure only the value of your home if you are looking to safe money and still stay safe.

3. Contact your associations or places that you have memberships. Many groups are affiliated with insurance companies offering discounts on your premium. It never hurts to ask!

4. House fires occur more often when smokers are residents. If you stop smoking, be sure to contact your insurance provider about a lower rate! Things like smoke detectors, security gates and alarm systems also reduce insurance costs, make sure your agent knows!

5. Any items that could cause injury can also increase the amount of your homeowners insurance. If you have a trampoline or a swimming pool, contact your provider for safety features that will reduce the risk of an accident.

If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!