Tag Archives: Buyers

Buyer’s Surviving in a Seller’s Market

My real estate business has always been an even mix of buyers and sellers… So I represent approx. 40-50 buyers every year and right now in Las Vegas if you are looking to purchase a home in the $150-$300k range you are no doubt about to start pulling your hair out!! Why you may ask…. Simple… There is an inventory shortage in that price range and a HUGE demand fueled by low interest rates… So no matter what you are selling (watches, TV’s, homes, etc…) that has a shortage of inventory and huge demand you are always going to have rising prices and battles between buyers trying to attain those items… If a home lists in this price range and is somewhat turn key move-in ready we will see multiple offers within the first 12-24 hours… There is NO stealing or asking for the world from these sellers… You MUST go in with your highest & best offer right off the bat…

I have listed a few tricks buyers can use to get their offers looked at and hopefully accepted… You always have to remember that sellers would rather work with an all cash buyer #1… Reason being is all cash offers have no appraisal and can close quickly! No banks to deal with! Second would be conventional loan types where the buyer are putting 10-20% down… These buyers tend to be a little stronger than VA or FHA loan types… But NOT always I might add!! This is just the way most sellers think or that their agents inform them… It should be noted that there are plenty of VA/FHA buyers that are much stronger than conventional buyers so this rule of thumb has some flaws…

Trick #1  If you are a VA/FHA buyer ask for the least possible dollar amount from the seller in closing costs… Asking for the seller to pay your closing costs makes your offer weak! Asking for $0 would be best!!

Trick #2  If the comps will support a higher than list purchase price and you need the help from the seller on your closing costs than offer above list equal to the amount you need help with… So if the list price is $200k and you need $6000 in closing costs than offer $206k… ONLY if the home will appraise otherwise it is a waste of time… The more the seller will NET is the name of the game!!

Trick #3  If you are up against multiple offers do NOT ask for the seller to pay for your home warranty & agree to take the home “as is” meaning you will agree to NOT ask the seller for any repairs… It is important to keep in mind that agreeing to take the home “as is” does NOT mean you can’t ask for repairs once you get the home inspection report back! If you end up finding some major issues you can still ask for the seller to repair, give a credit or you can cancel… You are NOT waiving your right to ask for repairs… This only happens when you waive your due diligence period… DO NOT do that!!

Trick #4  If you have the cash on hand offer above list price and agree to waive your appraisal contingency… This is where you will need an agent who really knows their stuff and can tell you what the home is expected to appraise for… This is the BEST way to compete against all cash offers… If a home is listed at $200k and would only appraise for $200k and you offer $215k trying to steal the home from the all cash buyers, you will need to pay the $15k out of pocket as the bank will only lend on appraised value…

Hopefully these tricks will help you out there in the field… If you find yourself needing help call me anytime 702-218-4585 I would love to help you…. DH

 

 

Moving to Las Vegas with Little Ones?

So the time has come for you to uproot your family and move to a new city. When it comes to moving, there are several things that can be nerve racking. Moving with kids makes it even more difficult. What school district will my kids be in? Where is the closest school? Where are the best schools?

Good thing you came across this blog because I am here to help! Clark County School District is the fifth largest district in the United States. It serves all cities including: Las Vegas, North Las Vegas, Henderson, Boulder City, and Mesquite as well as census-designated places like Laughlin, Blue Diamond and many more smaller Nevada towns.

Moving to Las Vegas and surrounding areas and searching for a school can be overwhelming as there are  over 550 schools in the district!!! So… Where are the best schools?


Green Valley

Green Valley is a small community located in the northwest corner of Henderson, NV – an outskirt city of Las Vegas.  Green Valley is home to five elementary schools, with the highest rating being Nate Mack Elementary School coming in at number 71/331 in the state. The four remaining elementary schools range between 107 and 229.

Junior High and High School ratings get better for this community. Green Valley is the home to 2 out of 118 junior highs and 1 out of 108 high schools. #13 Greenspun Junior High and #38 Thurman White Junior High while Green Valley High is ranked number 26 in the state.


Summerlin

On the complete opposite side of town, Summerlin is located on the far west side of Las Vegas. It is home to seven elementary schools with the rankings ranging from #8 Linda R. Givens Elementary, down to #58, Richard H. Bryan Elementary.

Summerlin is home to four middle schools and two high schools. Schools include #1 Rogich Middle School down to number #53 Discovery Charter School (K-8). #5 West Career and Technical Academy is a magnet high school that offers nine programs to prepare students for a career in the  field selected. Palo Verde High School falls slightly behind ranked at 34/108.


Private Schools

Public school not for you? Clark County is home to over 112 private schools. Summerlin hosts over 10 private schools including Bishop Gorman High School and The Meadows School while Green Valley is home to four, including Green Valley Christian School.


Are you relocating to Las Vegas and still unsure of where you want to be? Contact me NOW 702-218-4585 darylhanna@gmail.com and I will be more than happy to help you with your home search!

DH

It’s a Seller’s Market, Why is it a Good Time to Buy?

 

IT’S THE BEST OF BOTH WORLDS!!

 

Las Vegas is in the middle of a seller’s market fueled by the lowering of the interest rates a few weeks ago, and the continuing inventory issue… No matter if you are selling light bulbs or real estate, whenever you have high demand and low inventory you will see rising prices.

Most logical buyers would say that this is the worst time to buy a home. Normally I would agree BUT right now in Vegas we have 2 factors that make this the perfect time to buy…. Let me explain!!

I have always said that it is more important to get a good rate than a good price when buying a home! SO… Although prices are going up, taking advantage of the historically low rate will work out much better for you in the end!!

Do not be blinded by rising home values when borrowing money is almost FREE!!

The word FREE brings me to my 2nd reason why it’s an amazing time to buy a home… The State of NV is offering up to 5% towards the purchase of your new home that NEVER has to be paid back…. Yes you heard me right!! FREE MONEY!! And there are NO strings attached!! Add on top of that the 3% I almost always try to get from the seller could mean up to 8% towards the purchase of your new home… On a $250,000 home that would be $20,000 FREE MONEY!!!

If you want to learn more about what is happening in the market and would like to either buy or sell a home call me 702-218-4585

DH