Home Insurance in Las Vegas, NV
DO I REALLY NEED HOMEOWNER”S INSURANCE? Yes. A paid homeowner”s insurance policy (or a paid receipt for one) is required at closing, so arrangements will have to be made prior to that day. Plus, involving the insurance agent early in the home buying process can save you money. Insurance agents are a great resource for […]
Mortgage Alternatives in Las Vegas, NV
WHAT TYPES OF LOANS ARE AVAILABLE AND WHAT ARE THE ADVANTAGES OF EACH? Fixed Rate Mortgages: Payments remain the same for the the life of the loan Types 15-year 30-year Advantages Predictable Housing cost remains unaffected by interest rate changes and inflation. Adjustable Rate Mortgages (ARMS): Payments increase or decrease on a regular schedule with […]
Closing Costs in Las Vegas, NV
HOW DOES THE LENDER DECIDE THE MAXIMUM LOAN AMOUNT THAT CAN AFFORD? The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA,monthly mortgage payments should […]
Loan Closing Advice in Las Vegas, NV
WHAT MAKES UP CLOSING COST? There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following: Attorney”s or escrow fees (Yours and your lender”s if applicable) Property taxes (to cover tax period to date) Interest (paid from date of closing to 30 days before […]
Housing Market Info in Las Vegas, NV
Homeowners have a seemingly insatiable appetite for information about the housing markets. “Are prices going up? How”s the market? Is now a good time to sell?” they ask. Research reports and newspaper articles provide useful answers, but the information is usually buried in economic jargon. What is a “median price” anyway? What does “seasonally adjusted” […]
Multiple Offers in Las Vegas, NV
A “seller”s market,” in one in which competition for houses gives a seller the advantage! It is the result of all kinds of things we do not have control over, from the economy to the sudden and amazing popularity of any given city or neighborhood. When this happens, home prices tend to rise with the […]
Pick An Offer in Las Vegas, NV
In many of today”s strong real estate markets, home sellers can expect to receive multiple offers for their home. Multiple offers are a classic example of economic realities because they appear when the supply of homes for sale is limited and the demand for good-condition homes is strong. Sellers love multiple offers because they push […]
Sell Your Home Fast in Las Vegas, NV
Don”t waste time. The longer a house sits on the market, the less likely you are to get the best price. Put your house on the market during the spring or fall, when the most buyers are looking; avoid the seasonal slow periods of mid-summer and mid-winter. Remember, you’re paying property tax, insurance, and other […]
Negotiating a Contract in Las Vegas, NV
When writing a purchase contract, avoid expensive terminology such as paying a buyer”s closing costs, and of course you should watch out for all the contingencies that could cost you time with your home off the market. If the buyer wants to close on the sale contingent with the selling of his or her house, […]
Credit Info in Las Vegas, NV
Did you know that 75% of all mortgage lenders use a three-digit credit score to determine your loan eligibility?? This score is based on the information contained in your credit report. And the interest rate you will be charged is based on your credit score, so raising your credit score as little as 15 points […]