It’s not a secret that we’ve been battling a shortage of homes here in Southern Nevada for a number of years now and in typical “Sales 101” fashion the lack of supply has driven up home prices. With rental costs increasing and mortgage interest rates remaining near historic lows, more and more people are looking into buying a home. The problem that they’re finding is that the prices may have increased past their buying power.
A recent Las Vegas Review-Journal Article confirmed that from the beginning of 2017 to the end of 2017 the median house price has increased by 14% to $267,900. With the continued low inventory there does not seem to be an end in site.
If you’re considering Buying a home in 2018 contact us today at (702) 501-8726! Don’t let home prices go past your budget and miss out on the American Dream!
Recently I met with Mike Cornachio, Branch Manager and Loan Officer with local lender Castle & Cooke Mortgage, and discussed some tips in getting a home loan. We covered a variety of items (credit requirements, job requirements, timeline, etc.) and we decided to film a little Q & A segment to help Buyers out there with the process of applying for a home loan.
Mike has helped numerous clients of mine in the past and not only does he have access to some of the best interest rates around, his fees are some of the lowest offered!
We did our first facebook live Q & A where we answered 5 common questions we’ve received recently from Buyers & Sellers. We plan on doing this on a regular basis every couple of weeks. If you missed it, here is the link to watch! As always, you can contact us directly for help with Buying or Selling!
Don’t get me wrong, there are certainly scenarios when renting a home or an apartment might be best for your situation (bad credit, not planning on setting “roots” in Southern Nevada, etc.) but with the positives most likely outweighing the negatives….I have to ask, “Why are you still renting?”
My quick video above explains the numbers pretty clearly. Stop throwing your money away each and quit making your landlord rich! With interest rates remaining at record lows and rental prices rising, stop Renting! You can now have a mortgage payment at less than a monthly rent payment.
Take advantage of those record low interest rates, Mortgage Company lenient underwriting, Down Payment Assistant Programs, Tax Deductions and contact me today to get started!
It’s a new year so of course a new year full of resolutions and goals to set. While it’s not as common as the standard “go to the gym more” or “quit smoking”, real estate should absolutely be discussed as a goal for the next twelve months.
Homeownership is something quite attainable — especially here in Las Vegas and Henderson — and if you’re currently renting, chances are you could own for less than what you’re paying in rent… not to mention the tax advantages home ownership provides.
Maybe your family is outgrowing the home you’re in now. Not enough space to relax, long bathroom lines in the morning, or too small of a backyard could make it time to consider a move. Looking for a bigger space for the family in a preferred school zone might be a perfect 2016 resolution.
Perhaps you’ve now become an empty-nester… could 2016 be the year you decide to sell your home because you have too much space? Time to downsize?