Schedule Ample Time for Your North Las Vegas Home Inspection

Congrats! Your offer has been accepted and you are officially in escrow. Now what?  Usually the first order of business is to arrange your North Las Vegas home inspection. When you were house hunting, you were weighing so many factors it was next to impossible to thoroughly examination of every nook and corner of every one of the serious contenders…in fact, it wasn’t necessary. But now that you’re moving forward to a purchase, you want to do more than kick the tires. It’s time to get under the hood!

Here is a taste of just some of the areas you and your inspector will be examining during your North Las Vegas home inspection:

Plumbing

You will be taking a close look at the tiles around the handles on the bath tub or shower. If they are a different color, it could indicate a plumbing problem. A look under the kitchen sink for stains beneath the pipes can also indicate leaks—something you’ll want to know more about from the seller.

Mold

HGTV’s home inspector Rick Yerger lists water as enemy #1. "Of the many homes I have inspected," he says, "water damage to the structure has been the most damaging and costly, causing foundation problems, rot and the dreaded mold."  He recommends close examination of exterior grade for sloping (or draining) back toward the home; stucco issues where they’re applicable, and roofing materials.

Inspect the Yard

If there is a yard on the property, take the time to do a thorough walkover. Look at the condition of the shrubs, grass and flowers. Check the irrigation, the lighting. You should also look closely at the fencing and gating: they can be expensive to repair.

Electricity

Exposed wires can result in a house fire or other devastating damage. Open splice wire (where wire is conjoined using only electrical tape and/or wire connectors) is a common do-it-yourself mistake often seen in attics, garages, and crawlspaces. Any issues found with the wiring should be corrected ASAP.

These are only a few of the many areas your North Las Vegas home inspection will cover, so when you are scheduling the day, don’t make other appointments that might rush the process. Of course you hope that everything will be found to be flawless, and if only minor problems are uncovered, the seller may simply volunteer to correct them. But if the home inspection reveals that a significant amount of work will have to be done to bring it up to an acceptable standard, you and your agent will probably be submitting additional terms reflecting the requirements. As always, if you’re looking for that agent—the one you will want by your side throughout the entire home-buying process—I hope you’ll give me the call!

 Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search

Foreclosures in North Las Vegas Still Available for Careful Buyers

Despite the winter’s chilling effect on all sorts of sales, February saw single family homes, condominiums and townhomes selling nationwide at a full 7% increase over a year earlier. The opposite is true of foreclosures—no surprise, since the health of the market means fewer serious borrower delinquencies, hence fewer foreclosures.

Even so, North Las Vegas foreclosures are still available, possibly because some of the fiercest competition may be tailing off. Real estate watcher RealtyTrac finds that the institutional investor buying spree appears to be losing steam—which could be very good news for individuals interested in purchasing foreclosures.

Typically, North Las Vegas foreclosures are listed on an as-is basis -- and that means exactly what it says. Whatever is wrong with the property will remain unfixed. Unlike a traditional home sale where you can negotiate with the seller to fix problems or provide credits to counterbalance the expense to have them fixed, when you buy a foreclosed home as-is, that option isn’t available.

When you are up against time pressure to submit an offer, you do have other strategies. One is to hire a qualified home inspector to go over the property, then make your offer contingent on the results of the report. That allows you to know what you are getting into before you commit. If it turns out that the repairs needed are minor, you can choose to go forward with your purchase. If there are too many costly problems, or if there are an overabundance of unknowns, it might be in your best interest to pass. A contingency like this gives you the freedom to weigh your options carefully before you make your decision.

One other issue to keep in mind is the insurability factor. If you believe your offer represents good value even though the property has significant maintenance issues, remember that in most cases you will need to have a home insurance policy in place before you can close. Ask your insurance agent to check the property to determine whether it can be insured. If the first answer is no, you can still check with other companies—but keep in mind that in the world of foreclosures, this can become an insurmountable obstacle.

Buying foreclosures in North Las Vegas needn’t be overly risky when your approach includes careful evaluation of the target property. North Las Vegas foreclosures are still out there, and with care and patience, you should be able to find one that is right for you. Interested in discussing further? Contact me today!

Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search



It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.

Keeping North Las Vegas Real Estate Sales on Track

The slick, entertaining formats of HGTV’s many buying and selling programs makes for great entertainment – but, as anyone who has ever actually bought or sold a house knows, they tend to leave some key information on the cutting room floor. Sure, real estate sales in North Las Vegas can in fact involve elements of creativity, presentation, personality, all of which make for interesting television viewing. But in real reality, successful real estate sales are largely based on contracts, disclosures, inspections, contingencies, and time. They may be less telegenic, but can be dramatic, especially when you’ve done everything in your power to make sure that a deal works out smoothly, only to be faced with last minute surprises that threaten to prevent you from closing (or cost you a bundle!).

Here are some of the major issues that can impede North Las Vegas real estate sales—and how to prevent them from happening:

Not Weighing the Comps

When you are in the process of making a major decision, it’s natural to seek the opinions of the people who are closest to you. When it comes to real estate sales, however, personal opinions from well-intentioned non-professionals can create distractions that wind up doing more harm than good. In the realm of contracts and negotiations, it’s important to give weight to the opinions of experienced real estate pros. They know how to provide unbiased guidance based on comps and statistics rather than emotion.

Verbal Agreements

Whether you are selling or buying, it’s essential to get any agreements about repairs or updates in writing. Parties will often discuss repairs or credits and assume that a verbal agreement will suffice. Not true. Not only can a repair come back to haunt you later, but certain repairs left uncompleted can delay the close of escrow.

Last Minute Changes

Whether it’s taking out a loan on a new car or holding one final goodbye party at the house, last minute actions by buyers and sellers have an uncanny ability to hold up a deal. When you are in contract for a property, keep your eye on the prize: if you’re the seller, don’t do anything that increases the risk of damage to the house. If you’re the buyer, don’t make sudden changes in your financial life until you are the legal owner of that property.

Buying and selling property is more intricate than a 30-minute TV show, but the end of the episode should feature the same broad smiles and satisfied handshakes—particularly if you don’t let an innocent move derail the purchase. Real estate sales in North Las Vegas are my business; call me anytime!
Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search

 

It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.

Ins and Outs of North Las Vegas Piggyback Loans

It’s another aftereffect of the rise in housing prices: piggyback loans in North Las Vegas are making a comeback. According to a recent American Bankers Associations Report, the number of piggyback loans originated across the nation more than doubled within the past year.  

A piggyback loan involves taking out two mortgages simultaneously, with a home equity loan (aka “second mortgage”) ‘piggybacking’ on a first mortgage. In North Las Vegas home purchases, piggyback loans typically come into play when the buyer is unable to provide a full 20% deposit. Normally this would necessitate the buyer having to take out private mortgage insurance (PMI), which can be pricey. By going with the piggyback loan alternative, the Loan to Value (LTV) ratio can be reduced to less than 80%, the threshold below which PMI requirements vanish.

A standard piggy back loan is structured as a “80-10-10”—meaning that 80% of the purchase price comes from the first mortgage, the next 10% from the second loan, and the final 10%, the deposit.

One major downside to piggybacking is cost. The interest rates charged on piggyback loans are significantly higher than those for first mortgages, so it may prove less expensive to pay for PMI for a short period of time. This is more likely in a rising market, since the Loan to Value can shrink below 80% before long. Another problem can crop up when it comes time to refinance. In order to refinance, the second mortgage lender has to agree to remain in a subordinate position. This agreement (known as re-subordination) may, in some cases, be hard to reach.  Lastly, homeowners with a piggyback loan are unlikely to be able to take out a third loan should they want to access their home equity. Nowadays, thirds are rarely granted.

Between 2000 and 2006, it made a lot of sense to take out a piggyback loan. The interest on piggyback loans was tax-deductible, while mortgage insurance premiums were not. When property prices were rising as sharply as they were between 2000 and 2006, lenders also considered piggyback loans a good bet because the growth provided ample equity ‘cushion.’ But when real estate prices dropped in 2007, piggyback loans fell out of favor. By 2010, the percentage of piggyback loans fell to just 1.7%.

Today, with house prices on the rise, lenders are again growing more comfortable granting North Las Vegas piggyback loans—but with a bit more caution. Lenders usually ask for a FICO score of at least 700 and a debt-to-income ratio that’s below 43%. Increasingly, they want to see that a borrower has cash reserves in case of unforeseen circumstances.

If you are considering a piggyback loan in North Las Vegas this spring, you will want to run the numbers to see if it’s the solution that makes the most sense. In some circumstances, it can be the best way to get into a home you can afford even though you can’t furnish a full 20% deposit. Call me today to discuss how today’s market meshes with your needs!

Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search



It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.

Las Vegas Real Estate Listing|3155 East Rochelle Ave|3 bedroom For Sale in 89122

Las Vegas Real Estate Listing|3155 East Rochelle Ave|3 bedroom For Sale in 89122
by Andrea Gonzalez at http://www.vipdreamhomes.com

	Listing Information: Address: 3155 ROCHELLE AV City: Las Vegas State: NV Zip: 89121 Area: 302 - South County: Clark County     Price: $249,900      Listing #: 1435648              Property Type: Single Family Listing Type: Resale/New Subdivision: VANBUSKIRK EST Status: Active Listing School Information: Jr. / Mid: Woodbury C. W.      Elementary: Rowe Lewis*      Sr. / High: Del Sol HS Click here to view more photos and details Thinking of buying or selling soon? Call me today to put a plan in motion! Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group 5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas Direct: 702.485.7887Search For A Home: Las Vegas Online Search   It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.

The Wetlands Park Trail in Las Vegas, Nevada

This weekend I walked on The Wetlands Park Trail.  The weather was awesome with the exception of high winds. While walking you can hear the birds, bug sounds and oh yeah, rushing water.  As I stood on the bridge, and watch a graceful heron standing; as though in meditation at the bank of the softly churning, mist-wrapped wash as the morning sunlight veils the scene in shimmer and glint, my mind goes haywire with cliché.  When exploring certain parts of Las Vegas, I usually say to myself "gee I can’t believe this is Las Vegas!" What a marvel, this oasis in the dessert!  I feel like I’m a million miles away from the city! 

Although you could easily while away a family day at The Wetlands Park, gorging your soul on the visitors’ center exhibits, interpretive signs and targeted strolling, it’s also convenient enough for an early-morning jaunt for east-siders and Hendersonians. 

There are myriad trails and themed walks, but my advice is to park at the Nature Center and unleash yourself upon a restorative, aimless walkabout-and take your camera for the ducks, cormorants, storks and hawks doing their National Geographic thing. 

Look out for: Just pause and train your eye on the green reeds just west of the bridge, where startlingly white egrets hand in their own private ultra-lounge. 

Beware of: Rattle snakes, “just kidding”- The Wetlands Park is safe and scrupulously maintained.

Ideal for: Harried cityfolk who need a quick dose of Mother Nature: instagram shutterbugs; and avid birdwatchers.

If your visiting or live in Las Vegas, I would suggest visiting the The Wetlands Park- you won’t regret it. 

View Homes near The Wetlands Park Trail

Looking to Sell your Home Near Wetlands Park Trail

Andrea Gonzalez, Realtor® "Your Dedicated Realtor for Life"Realty One Group
5550 Painted Mirage Rd, Las Vegas, Nevada 89149Serving: Summerlin, Las Vegas and North Las Vegas
Direct: 702.485.7887Search For A Home: Las Vegas Online Search



It is always an honor to assist Home Buyers and Sellers with their Las Vegas Real Estate needs. If you are searching for Las Vegas Real Estate Listings, then I urge you to utilize the valuable tools on my VERY USER FRIENDLY WEBSITE. Most important, Write, Phone or Text Me with any questions.