Preparing for Multiple Offers on North Las Vegas Properties

Part of the recovery in our North Las Vegas real estate scene is the increasing likelihood of multiple offers on a listed property. This is every seller’s dream— but if you are one of the bidders, it’s important that you don’t allow it to become your nightmare.

There is one way— the only sure way—to keep the specter of competing North Las Vegas multiple offers from upsetting your home buying prospects. Summed up in one word, it’s “preparation.”

Preparation starts with assembling a strong financial package. If your target property attracts multiple offers, you want yours to stand out. By the time you learn that other offers are at hand, it’s probably already too late to begin putting together documents—they should be in hand before you even identify a property. Getting pre-approval for your loan, having a letter that says so, and being able to show you have funds available can be persuasive.

When it comes to making the offer itself, although including “Subject to” clauses will protect you from unforeseen problems with the property, when multiple offers are on the table, the fewer contingencies the better. Again, only preparation will make this reasonable. If you’ve had an advance home inspection, and also made sure that there aren’t any right-of-way or easement issues, your offer can be significantly more attractive.

Personal preparation can be another positive. Visiting the property on several occasions at different times of the day should give you added confidence for what the home is truly worth to you…and when the listing agent and owner can put a face to your offer, it tends to strengthen its validity.

When multiple offers on a North Las Vegas property occur, it’s possible that someone is going to bid more than the home is really worth. If you’ve done thorough research and know precisely what its value is in today’s market, that won’t be you. Having your bottom line number unshakably in mind means that in any bidding war, you’ll be able to sweeten your offer without hesitation. You can be creative, perhaps by offering to reduce the seller’s costs by picking up escrow fees, transfer fees or title policies; perhaps by offering the seller a few additional days to move without seeking financial compensation in return; perhaps by increasing the down payment or earnest money. When you know your bottom line, the arithmetic is uncomplicated (and your less-prepared competitors are more likely to throw up their hands!)

And then…should the bidding go over what you know it’s worth, you’ll be ready to walk away. There will be other properties to bid for – and I’m always here to help keep all your options open!   

Andrea Gonzalez-Buyers Agent Specialist with Realty One Group 702.485.7887|www.vipdreamhomes.com

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Toward an On-Target Aliante Real Estate Listing Price

 

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There is less guesswork than you might think about establishing an on-target Aliante real estate listing price. There is really very little mystery:

Comps and CMAs

When you hear your Realtor^™ refer to ‘the comps,’ you probably think of them as the printouts of the Aliante real estate listings which are comparable to your own property. More comprehensively, a CMA, or Comparative Market Analysis, also includes a broad look at pending and completed sales, as well as withdrawn listings. That analysis will also include and account for differentiating factors, such as upgrades you have made to the home, location, and other features that make your home unique.

Market Conditions

Market conditions will also play a strong role in developing a real estate listing price that’s likely to attract serious buyers. If conditions indicate a seller’s market, it means that there aren’t many homes available for sale. Contrarily, if it is a buyer’s market, recent trends show that numerous homes are available for sale, but buyers are in short supply. Other factors can come into play. If an area has become economically depressed, for instance, pricing a home on the higher end of the standard is more likely to result in a higher DOM (days on market).

Appraisals

Getting an Aliante Home appraisal is helpful in nailing down an acceptable real estate listing price. The extra expense provides a highly educated estimate for what today’s market will bear (and also valuable preparation for you are likely to hear when you enter into serious negotiations). It’s also important to remember that the bank’s loan approval will hinge on whether or not the selling price is in excess of the appraised value of the home.

One of the major benefits of working with a Aliante Realtor^™ when developing the real estate listing price for your home is the degree of expertise we bring to the process of setting an advantageous listing price. My own years of experience and knowledge of the Aliante, NV market is invaluable when it comes to setting a fair price that spurs buyers to act quickly.  Looking to sell?  Call me today!  Andrea Gonzalez-VIP Realty Group| North Las Vegas & Aliante, NV Homes Expert| 702.485.7887

Website: http://www.vipdreamhomes.com

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Aliante Home Staging: Organization Works Wonders

 

 

Staging your Aliante home for showings will always be a time-eater. The word itself is indicative: “staging” means transforming your busy household into a theatrical set. In addition to thoroughly cleaning every nook and cranny, it usually means spending on paint and a variety of minor supplies to tweak the production. Then comes the actual visits by potential home buyers, sometimes interrupting your schedule (sometimes with very little notice).

If you have kids, keeping the staging in pristine condition must clear an extra hurdle. When the kids spill food on the floor (or leave toys underfoot for potential home buyers to trip over), selling your home can turn into a hand-wringing ordeal. It needn’t be. Here are a few sanity-preserving pointers:

Designate one room for the kids

While it may be impossible to totally prevent kids from being messy, we can keep the youthful chaos quarantined to one room. Designate the place in the house that will be the “kid’s area” so that the cleanup in advance of a showing becomes more manageable.

Keep the show towels separate from the real towels

A successful Aliante home staging routine pays special attention to focal points in the kitchen and bathrooms. Both should come as close as possible to a model home’s—which makes it crucial to keep a separate set of unused towels and floor mats to switch in whenever the home is going to be viewed. (There should be no secrets within a family, except maybe for this one: make sure the kids don’t know where you hide the show towels!)

Clear the “stage”

There are many items we keep handy that aren’t essential for day-to-day living. Whether it is unnecessary pieces of furniture or extra boxes full of toys for the children, these things combine to contribute to a sense of cluttered spaces. Stashing as much clutter as possible in a temporary storage unit will make your staging cleanup jobs much easier. It will also contribute to the clean uncluttered appearance home buyers find appealing.

Thinking of selling your home in Aliante this winter?  I have a marketing plan for this season’s market ready to go – call me today!

Andrea Gonzalez- VIP Realty Group| North Las Vegas & Aliante, NV Specialist| call or text: 702.485-7887. 

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Will North Las Vegas Real Estate Values Extend Rises in 2014?

     If there is one question that homeowners and prospective shoppers have in common as we enter the New Year, it’s about the direction of North Las Vegas real estate values in 2014. Small wonder: the financial market meltdown of the last decade had such a profound impact on all forms of real estate that it still has many people looking nervously over their shoulders. How likely is another tumble in the coming 12 months? Will real estate values in North Las Vegas continue to rise? Knowing the answer could make a big difference to anyone planning to buy or sell a home in North Las Vegas this year.

Of course, absolute certainty on that score is not possible for anyone without a time machine in their basement. But, as we look back over last year, we might gain a little bit more confidence by hearing from the experts who got it right in 2013.

Foremost among them was Dr. Lawrence Yun, the chief economist of the National Association of Realtors^®. Last year, he was dead-on. 

Dr. Yun is calling for a continued rise in prices—pretty much in line with the past year’s gains. To compensate for expected mortgage interest rate gains—the likely effect of the Federal Reserve’s easing of policies that fueled 2013’s financial markets—he suspects that lending institutions will ease borrowing strictures. That’s something we can all applaud!

Overall, if North Las Vegas real estate values in 2014 follow the NAR’s national prognostications, we would expect real estate value increases either like the Wall Street Journal’s quoted prediction of 6%, or of Dr. Yun’s 5%. Either would not be surprising, given last year’s North Las Vegas real estate values numbers. What the NAR experts and the Journal also agree upon is a flattening of residential housing sales volume in line with 2013 levels.

How much credence can we give to what the seers predict? Perhaps a little more than usual. “The NAR forecast could be viewed as restrained in light of the housing market’s gains in the past two years,” says the Journal; and “…other 2014 forecasts are fairly close to Mr. Yun’s predictions.”   

So, if you looking to buy in North Las Vegas allow me to assist you with locating your dream home!  Andrea Gonzalez- VIP Realty Group| 702.485.7887| vipdreamhomes.com| website: http://vipdreamhomes.com  

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First-Time Buyers Should Check Credit Scores Early

 

It can take years for North Las Vegas first-time buyers to save up for their first home’s down payment, but even after that hurdle has been cleared, it can take even more time to secure a mortgage -- if they have neglected the other part of the equation. Their credit rating.

Before first-time buyers in North Las Vegas will be able to move forward with that initial home purchase, they need to ensure that their credit score does not raise the kind of questions that sometimes derails an otherwise well-qualified home loan applicant. This has always been true, but may become even more likely as lending limitations grow increasingly strict.  

But it’s the occasional recording error or misstatement that is most easily preventable. Ironically, those often affect perfectly well-qualified buyers—precisely because they have no reason to suspect that a problem could crop up.

The upshot: North Las Vegas first time buyers should start reviewing their credit history one year to six months before they intend to buy a home. Since the credit agencies provide upon request free copies of every individual’s report once each year, the only hassle is having to check the details line-by-line (a single reporting error can have a big impact on an overall score). And since it’s not unusual to take 90 days or more to cure a disputed entry, the earlier a first-time buyer begins the process, the better. Individuals can file a dispute online with the credit bureaus, or can hire a credit repair company to assist with disputes. In all cases, claims should be documented and correct information provided immediately.   

Once a North Las Vegas first-time buyer is certain that his or her reports are accurate, is it time to relax? Hardly. It’s important to continue to monitor those scores to ensure against accidental surprises. Especially recently, after wholesale credit card thefts sowed confusion and disruption throughout the system, it’s probably wise to assume nothing. Several online services offer credit monitoring (and it’s possible that your bank might provide free monitoring).

From first-time buyers to seasoned investors, I’m here to help my clients every step of the way. Call me today! 

Andrea Gonzalez-Buyers Agent Specialist with VIP Realty Group|702.485.7887|www.vipdreamhomes.com

Want to sell your North Las Vegas Home- Click Here for a Free Home Evaluation