first-time homebuyers

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...

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...

The Sellers Real Property Disclosure (SRPDs) Forms And What You Need To Know

What Are The SRPD's And How Can It Impact My Deal? In Nevada we have a form called the Sellers Real Property Disclosure (click the link for your example). By law a home seller must provide this form to the Buyer to disclose any and all known conditions and aspects of the property which impact the value or use of the property in an adverse manner, such as faulty pipes or water damage. It’s a...

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...

Home Price Deceleration Doesn’t Mean Home Price Depreciation

To fight inflation the FED has raised the interest rate again. The hot sellers market could cool down which will decrease competition for buyers and impact rising home prices. Experts in the real estate industry use a number of terms when they talk about what’s happening with home prices. To help clarify what’s happening with home prices and where experts say they’re going, here’s a...

10 Things To Know If You’re Closing A Home Deal For The First Time

#1. Open an Escrow The first step to closing the deal and unlocking the front door of your own house is to open an escrow. An escrow is a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Escrow, on average, will last approximately one month....

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