Business

My Favorite 2022 Real Estate Highlights

It wasn’t a great record breaking sales year for many Las Vegas realtors. Inventory is up 463% from last year with 4.8 months of availability per LVR data from November 2022. Home prices have been declining about 2% monthly for the last couple months as interest rates have risen to fight inflation. I personally had a great year for getting good reviews but I did not break any sales records. The...

Understanding the CC&Rs When Buying a Home in a HOA Community

The Details You Should Know If you’re buying a home in a HOA community there are a lot of rules and regulations along with rewards and responsibilities. When I say there are a lot of terms and abbreviations we use in the Real Estate industry, this is why. The HOA has CC&R’s in the CIC... An HOA is a homeowners association and the CC&Rs are the condition, covenants and restrictions. and is...

Market Value vs Assessed Value of Your Home

Why it's Important for Home Sellers to Know the Difference If you're wondering what your current home value is than make sure not to confuse it with your assessed value. The main difference between the Market value vs Assessed value has to deal with taxes. The market value is the agreed upon value that an informed buyer and seller agree upon. The assessed value is dollar amount a tax assessor assigns...

What is EMD? How much is it and how you can protect it.

Another Las Vegas guide for protecting your money or losing it all. EMD is short for Earnest Money Deposit also known as the good faith deposit but it doesn't have to be something you gamble. The Nevada Law and Reference Guide says “Earnest money is not consideration - it is an inducement to negotiate. Earnest money is presented with an offer to indicate the genuineness of the offer.” So what this...

Buy Down Programs Helping Homebuyers Lower Their Home Payment

A Home Buying Strategy For High Interest Rate Markets It’s no secret the F.E.D. (Federal Reserve) is raising interest rates to slow inflation and buyers in the real estate market are feeling the squeeze in the 3rd and 4th quarter of 2022. The same $400,000 home now comes with a $2800 dollar payment instead of a $2000 payment and in some instances its causing many first time homebuyers to consider...

Closing Costs And What You Need To Know

A break down for the proactive buyer and seller Closing costs are the costs associated with buying or selling a home. They will be different depending on if you are a buyer or seller. Typically buyers will need to save 2–3% of the purchase price to properly plan for their closing if they are not negotiating any seller concessions. Which means the seller will also pay for the buyers closing costs...

How Do We Know If We Are In A Buyers Market, Sellers Market or a Balanced Market?

In a balanced real estate market demand matches the supply of for-sale homes in the marketplace and is usually between 3-6 months of inventory, a buyers market is usually more than 6 months of inventory and a sellers market is less than 3 months of inventory. Since 2020 we've had an average of a .5 inventory, so we've been in a historically high sellers market, but the market is cyclical, so for Las Vegas...

Reviewing The Preliminary Title Report For Your Home Sale

What is the Title Report? A title report is a document that outlines the legal status of a property and related information on its ownership. Key components in a title report include paperwork on the chain of ownership, unreleased or open mortgages, liens or judgment dockets against prior or current owners, and information on the county, zoning laws, property value, and current tax...

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