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.

Staging Approaches to Boost any North Las Vegas Home Sale

With spring already upon us, we stand at the threshold of our North Las Vegas first major selling season of 2014. If you are preparing to add your own property to the North Las Vegas home listings, the International Association of Home Staging Professionals would like to draw your attention to some statistics that bolster their members’ proposition. None is more compelling than this one: non-staged homes remain 79 days longer on market than their professionally-staged neighbors.

Still, since not everyone hires a professional staging company to work their magic, you’d think there would be a few DIY alternatives that would well worth doing. Of course, there are: and some go beyond the most well-known staging rules that are basic to any home sale:

 
1. De-clutter (then de-clutter again). The stagers’ single most important line item remains this: de-clutter. There is little cost to de-cluttering a home (usually no more than a storage unit’s rental). The professional insight is that once you have done it, go back through the house and do it again! That second round might only involve boxing up a few remaining personal knick-knacks, but it can also suddenly reveal items that clash with a room’s overall color palette.

 
2. Light(en) it up: Neutral colors are the rule for staging a home, but good light can be equally important. Make sure every room is well-lit, with clean windows, bright light bulbs (some do dim over time), and plenty of lamps or fixtures. If possible, disperse the height of lighting sources by mixing floor and table lamps, windows and overhead fixtures.

 
3. Find the focal points: The largest item in the room does not always have to be the focal item. If you have an antique chest or a captivating painting, see if you can arrange the room so that it’s the first thing your eye picks up as you enter the room. A strong focal point gives a sense of character to a room. It works to your advantage, since the focal point naturally emphasizes the strongest feature of the room.

These are approaches that do take some time and effort—but imaginative staging really does make an impact on perceived value, and, as a result, time-on-market. For more North Las Vegas home selling insights, give me a call anytime to discuss your own real estate plans!

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.

Being Your Own Boss and Getting a Loan For Your North Las Vegas Home

You don’t have to tell anyone who is self-employed that there are extra costs that go with the benefits. In addition to the long hours and weight of responsibility that come with the job description, getting a home loan has always added special challenges. Now that we are into the new Dodd-Frank era of federal oversight, some of the changes warrant an early heads-up. The 2010 legislation that went into effect on January 10 created the Consumer Financial Protection Bureau, with the function of tightening the rules lenders follow in order to discourage the issuing of mortgages that borrowers can’t be reasonably expected to be able to repay. To deliver on that worthy purpose, more proof and more paperwork will be required to support the income claimed on loan applications (here you might well be hearing an imaginary smacking sound from self-employed persons reading this and whacking their foreheads—paperwork is the bane of the self-employed). If you are your own boss and getting a loan in North Las Vegas is on your horizon, take heart! Just because it may be more difficult to apply for home loan doesn’t mean it’s impossible. The new lending rules describe eight specific factors lenders should verify and document before advancing home loans. They include the borrower’s assets, credit history, employment status and other debt obligations. The penalty for lenders who fail to do so adequately is that they may be legally liable if a borrower proves unable to repay. For the self-employed, the extra burden can come with the requirement that borrowers be able to show consistent income (hear that forehead-smacking sound again?) The general rule is that borrowers be able to provide at least two years’ worth of personal tax returns. Since self-employed people getting a loan in North Las Vegas often have perfectly valid reasons for fluctuating annual incomes, it’s vital to talk with a broker and lender as early as possible to establish the taxable income level needed to qualify for a loan. That talk should cover other areas. For instance, self-employed people have greater flexibility than most when it comes to reporting deductible expenses on their income tax forms. Since those same deductions result in lower net incomes, that can be problematical when it comes to getting a loan. One way to counter that problem is to demonstrate that the expenses incurred were used to buy things that will improve their business in the long term. Another approach is demonstrate that similar expenses are not likely to re-occur (particularly apt when a business is just starting up). If you are among the self-employed—and plan on getting a loan—planning is key.  Get your ducks in a row now so the loan process doesn’t derail you later. It’s never too early to call me as an early resource before we get to move on to the fun stuff—your home search!

Being Your Own Boss and Getting a Loan For Your North Las Vegas Home

Search All Homes For Sale Homes Close to Where You Work Avoid Foreclosure What is Your Home Worth? Andrea Gonzalez Realty One Group 702-485-7887 andreag714@gmail.com