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Your Home Sold Guaranteed Realty Blog

Tuesday, April 2, 2019   /   by Michael Picciuto

Mortgage lenders, expect your closing rate to decline over the next year.

Closings have reached a record high, but Capital Economics warns a backslide is coming.
The closing rate for purchase mortgages recently hit a record high, but analysts at Capital Economics warn lenders that this trend is unlikely to continue.
Why?
Blame a slowing economy.
Most often, mortgage applications are rejected because the borrower’s credit score is too low, their debt-to-income ratio is too high, or the lender does not think the house supports the purchase price.
Capital Economics said the high closing rate as of late is likely related to the fact that borrower credit scores have improved and DTIs have lowered, which would make sense given the strong economy and labor market.
But this is excepted to change as a number of key signs point to a coming economic slowdown in the months ahead, and mortgage lenders are likely to feel the effects.
“A slowing economy suggests that borrower quality will not see further improvements, and could turn ...

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Tuesday, April 2, 2019   /   by Michael Picciuto

Want to sell your house?

The first week in April is the best time to list your house in 2019, according to Realtor.com.
Why?
There is a confluence of factors that reach a fever pitch during this specific week to make it ideal for home sellers. Namely, high buyer demand, limited competition, quick sales and strong prices.
According to Realtor.com, the market is lively with buyers at this time of year, but not everyone has listed their properties just yet, meaning there is more demand for the listings out there.
In fact, the advantage is calculable.
Realtor.com reveals that homes listed in the first week of April see an average of 14% more views and experience 5% less competition compared with the standard weekly average, translating to a sale 6 days faster.
And, sellers could also pocket more money.
The average home on the market during this week is priced almost 6% higher than average home prices in the beginning of the year, according to Realtor.com. This could mean that, for a typical listing ...

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Tuesday, April 2, 2019   /   by Michael Picciuto

Freddie Mac: Housing market will regain momentum this spring

Rising sales demand and more inventory will spark action

Lower than expected mortgage rates and moderating home prices are projected to heat up the spring home-buying season, according to Freddie Mac’s March Forecast.
However, the government sponsored enterprise has a less optimistic outlook when it comes to the annual GDP growth rate.
Freddie now predicts GDP growth will reach 1.2% in the first quarter of 2019, rising to 2.0% for the remainder of the year. Unfortunately, the entity expects the rate to eventually edge down to 1.8% by 2020.
And when it comes to the U.S. labor market, the forecast indicates unemployment will drop to 3.8% in 2019 before eventually increasing to 3.9%.
That being said, Freddie does believe rates on the 30-year fixed-rate mortgage will average 4.5% this year, eventually rising to 4.8% in 2020.
This could bring the housing market some much-needed momentum.
“The real estate market is thaw. ...

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Monday, April 1, 2019   /   by Michael Picciuto

What's it like to live in Las Vegas, NV?

Las Vegas has a reputation as an adults-only playground thanks to an iconic stretch of Las Vegas Boulevard. However, just beyond the Strip, residents enjoy pleasant suburban communities, world-class restaurants and beautiful parks undisturbed by the glare of neon lights. Cultural institutions like the Smith Center for the Performing Arts and numerous museums offer quiet alternatives to the Strip, while nearby state and national parks – including Lake Mead, Red Rock Canyon National Conservation Area, Spring Mountain Ranch State Park and Valley of Fire State Park – offer ample opportunities to enjoy the outdoors.
It seems like there is always something happening in Las Vegas. The Las Vegas Food and Wine Festival, along with the myriad celebrity chef restaurants on the Strip, keep foodies busy, while bibliophiles gravitate toward the annual Vegas Valley Book Festival.
For better or worse, Las Vegas' popularity as a tourist destination, combined with its recent population gro ...

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Monday, April 1, 2019   /   by Michael Picciuto

4 Red Flags to Look for Before Accepting an Offer on Your Las Vegas Home

In Las Vegas real estate, the highest bidder doesn't always get the spoils. Even an offer above list price can be undermined by a bad loan, a long list of contingencies or other complications that stall the deal. In fact, Jason Abrams, principal with the Abrams Group, says, “Often a buyer offers higher because their terms are weak.”

Before you accept an offer, some of Las Vegas' top real estate agents, say to look out for these red flags.

[Read: 4 Ways to Sell Your Las Vegas Home Fast.]

A Questionable Loan

There are several ways to finance a house, and when you’re selling, you should understand how the buyer plans on paying. Shane Nguyen, broker and owner of 1st Priority Realty, says, “You want to evaluate the probability of closing easily.” A cash offer is often your best chance, but you want to request a proof of funds letter to ensure the buyer actually has the cash available.
More often than not, however, a buyer w ...

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Your Home Sold Guaranteed Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

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