Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local Las Vegas market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

 

Chris Quiazon

Realty Executives of Southern Nevada

July 24, 2020

Pro and Cons of Buying A Fixer Upper

 

Purchasing a house can seem long and at times, tedious. You want to make sure you make the right choice when it comes to your new home! With so many options on the market, you may want to decide a few big decisions first, before diving in. One of the decisions you can make is whether to buy a place in need of remodeling because it may be more affordable or has better terms. With that in mind, there are also some cons to purchasing a fixer upper rather than a move-in ready home. This article will go through the pros and cons so that you can make the best decision for you and your family.

The Pros of buying a fixer upper

Before we begin, let’s explain the definition of a fixer upper. In simple words, it is a cheaper apartment, condo or home, requires some or a lot of improvement or remodeling. This option is not appealing to everyone, as spending your money on a property that does not promise much does not sound very appealing. However, there are some advantages to choosing this route.

The price is way lower than usual

Let me start with the most obvious advantage – the place will be a bargain. People who don’t have the money to remodel usually decide to sell it and they sell for a lower price. That’s where your chance is. This is especially important if you are looking to buy an apartment or home in an upscale neighborhood where the price is higher than the local market price.

If you hire a good agent, they will be able to quickly notify you when an opportunity like this one presents itself.

Less competition

Fixer uppers usually stay on the market for a longer period of time. People simply do not wish to go through the long process of remodeling a place they just purchased. They would rather buy a move in ready.

You can start from scratch

One thing that you may notice when looking at listings is that although you may like the ease of a non fixer upper and you like the inside of the home, you don’t have the option to really start from scratch and make it your home. When you remodel a home, you can make it your dream home by adding different spaces and choosing small details like backsplash, paint, flooring, and trims.

You know exactly where your money goes during the remodel process. Furthermore, this is the perfect chance to make all the changes and tidy everything up before moving in.

Want to make some money – a fixer upper is a way to do that

If you think about it, buying a place at a lower price is a chance to make money or build massive equity. You invest in remodeling it and then sell at a higher price. As a matter of fact, this is how some people make a great living. They saw the opportunity and used it to their advantage. You can find these on Tv on HGTV.

Cons of buying a fixer upper

Even though there are many benefits to buying a fixer upper, there are some disadvantages you must take into consideration. I have discovered that it can be a bit risky. Let’s see why.

You might spend more money than you intended

One of the worst things that can happen is to purchase a fixer upper and spend an enormous amount of money only to get it to a decent state. That’s why it is important to have good contacts that will provide affordable ways to spruce up your home and ensure you are investing in the right things to make your home more valuable.

Selling it might take time

Making your money back on your home could take some time. Whether you choose to stay in the home for a long period of time before selling, or choose to sell right after the remodel, you will need to have patience.

It is not always a safe bet, there are risk involve

Once you purchase a fixer upper, there is no going back. It requires a tremendous amount of work that does not always pay off the way you expect it to. With that in mind, carefully consider the pros and cons of buying a fixer upper before you make a purchase!

Contact our team of experts when buying a fixer upper. We can show you exactly how to minimize or even avoid the risk.

 

 

Posted in Useful Information
Feb. 26, 2020

Buying A House : The Process and Expectations

First, are you ready to buy?  Answer these four questions.  If you answer yes to all of them, you are probably ready to buy a home.

  • Do you have a steady, reliable income?  In other words, have you been employed on a regular basis for the last two years and do you expect to maintain your employment?
  • Do you have a good record of paying your bills?  Have you made regular, on-time payments?  If not, read on; there is still hope.
  • Do you have money saved up for a down payment and closing cost?  Many home buyers think that a down payment of 20 percent is needed.  It's not.  Many loans exist today that allow buyers to put down 10% to as little as 3% on the purchase of a home.  So don't give up just because you can't come up with a 20% down payment.
  • Can you pay the mortgage each month?  As well as additional costs that go along with homeownership, such as taxes, insurance, and maintenance?

Simplifying The Home Buying Process

  • Meet with a Realtor
  • Get Pre-Qualified with a Mortgage Lender
  • Search for your Home
  • Make an Offer
  • Open Escrow
  • Due-Diligence : Inspections, Repairs, Appraisals, etc.
  • Closing Day

Why Own Real Estate Today

  • Housing is typically the most conservative, leveraged investment.
  • You're already paying for housing whether you own or rent.
  • Its a tangible investment and a nest or money when you decide to sell
  • There is tax benefits when owning a home
  • You own a piece of the American Dream.  Yes the American Dream is still alive.

How We Find The Best Home For Sale In Las Vegas and Henderson

  • We preview the best properties that are on the MLS daily
  • We have a team that focuses several hours a day calling neighborhoods looking for future sellers.
  • We reach out to "for sale by owners" for off market properties not on the MLS
  • We have a team focusing on foreclosures and short sales

Determine Your Current Situation

  • What is your time frame to move into your new home?
  • If you are renting, is it a lease?
  • Do you currently own a home?
  • Does your current home need to be sold first?
  • What are your concerns about purchasing?
  • How long do you plan to own your home?
  • Do you have a good source of income?
  • Are you current on your bills?
  • Are you qualifying on your own or do you have a Co-signer?

Why You Should Get Pre-Qualified

  • The best of homes sell quick.
  • Sellers are looking for the most qualified buyers when making decisions.
  • Having a pre-qualification letter shows the seller that you are prepared and serious to purchase.
  • You know your buying power.
  • Make sense of all the numbers: Interest rates, mortgage payment, down payment, closing cost.
  • We have lenders to recommend that matches your needs.

Determine The Requirements of Your Ideal Home

  • Location
  • Neighborhood
  • Schools
  • Size
  • Bedrooms
  • Garage
  • HOA
  • Concept
  • Other

Have Money On Hand

  • All written offers must accompany a good faith deposit usually equal to 1% of the purchase price.
  • Inspections typically cost $300-$500 or Less.
  • Home appraisals typically costs $500.

Purchasing Your Home

Any major purchase requires research, careful analysis, consideration, and thought. Home buying isn't any different! Determining the right location, the number of bedrooms or bathrooms needed, and outdoor space is the easier things. However, there are many other factors to think about in your home search. From your initial search to the moment you get the keys to your new home, I will be there, guiding you through the process. I can even help connect you with mortgage professionals to get the best rates. 

As an area expert, I can help educate you on the different neighborhoods, schools, and other local community amenities that suit your lifestyle. 


Home Buying Can Be Easy
As your buying agent, I can help streamline the process of buying a home and make it easier for you. I’ve aligned myself with the top professionals in the industry, and once an offer has been accepted, I will personally help facilitate the process to close on the home. By working closely with mortgage brokers, title and escrow companies, home inspectors, and home warranty companies I will provide you with the best service possible!

First Time Home Buyers

If you are a first time home buyer in Las Vegas. Then you need to consider a couple things before purchasing a home. I understand that it can be confusing, overwhelming, and anxiety filled process. But my job is to simplify the home buying process, and make it as smooth as I can for you.

And honestly the home buying process does not have to be complicated at all. but there are certain things you should consider, and think about. Below is an article I created with the 5 essential things you first time home buyers need to know.

 

Posted in Home Buyer Guide
Feb. 11, 2020

What Is A Notice Of Default

What Is A Notice Of Default

 

What is a foreclosure notice?  

A foreclosure notice or notice of default is a document that basically states that the lender has filed a report stating you have not made payments.  This is the file that will enable the lender to order the beginning of the foreclosure process.

The Notice of Default, once filed by the lender, will be published to the county and state records on where you live in.  Anybody who has an interest on the home, such as contractors who are owed money for the work done the the property, the mortgage lenders either you have one or two, will get a copy of the notice of default.

Basically, everyone will have access to this notice and is published for all to see.  Although this could be embarrassing to anyone who goes through the foreclosure process, this is how the process is.

Here are some very important steps that should be taken once a notice of default at your Las Vegas and Henderson home is filed.  And before I share with you the steps, anyone with a notice of default must understand that sometimes people are being foreclosed on without any warning.  Homeowners are being kicked out of their property without warning. The notice of default is a critical step within the foreclosure process, in the end its still a warning that you need to make your payments and keep the property current.  So here are a few steps on what you should do if you receive a notice of default.

First, try and stay calm and don’t panic.  I understand that that doesn’t make any sense but you have to understand that the notice of default is just a notice that if you don’t do anything, the bank will then move forward with the foreclosure.  In Las Vegas, Nv, once a notice of default is received or filed, the homeowner has 60 days to pay the missed payments and keep the property current. So yeah, you have 60 days!

Second, is to educate yourself in the foreclosure process.  Learn everything about the notice of default and foreclosures in Las Vegas Nevada.  Gather information and resources that is needed to save your home and your name from a foreclosure if you goal is to keep the property.  

Third, know your options.  Our company, Bold Offers is here to help you avoid foreclosure.  We buy houses and we pay cash. We have different options to help you save your name from a foreclosure, buy you some more time, and possible put cash in your pocket for a fresh start.  There are so many options for you out there. We are here to help you find them. There is not one solution to the problem since every situation is different.

Fourth is to communicate with the bank.  Set an appointment with the bank involved in the property and see your options with them.  Usually, they will offer a loan modification but this is difficult sometimes because situations are different for everyone.  A loan modification is usually your first option if you want to save your home from a foreclosure. If a loan modification doesn’t work, let us know, we will find a solution together!

Finally, reach out to us.  We are connected with many different sources that will be able to help you with your situation.  We won’t know how to help you or what options to provide you until we know your exact position. Sometimes, selling your home might be the best option.  As much as I hate that option, we see that many people in foreclosure situation only has one option, to sell their home and start over again.

 

We are a acquisition company, our goal is to stop banks from foreclosing on homes in Nevada.  We buy houses cash, we pay all fees, you get money in your pocket to start over again, we buy you more time, and we help you get back on your feet within due time.

Posted in Foreclosure
Feb. 11, 2020

Stopping A Foreclosure

5 Ways To Stop A Foreclosure

Going through a foreclosure is a tough situation to be in. It could be embarrassing knowing that your family and friends, the ones you love, know you’re in a position of struggle.  You are not alone! Many household face difficult situations that leads to foreclosure of a home. Below are steps you can take to stop foreclosure on your home.

Loan Modification

Speak with your mortgage lender and renegotiate the terms on your loan. Let your lender know about the current situation that caused or is causing you to miss payments.  More often than not, they are willing to renegotiate if you have a great reason behind the missed payments.

Sell The House

As hard as it is, we need to be realistic.  If you know you can no longer make the payments for your home and a loan modification is not an option, you need to sell vs letting it foreclose on your name.  Selling your property to investors such as Bold Offers, we are able to help you get a quick cash offer and help you start over. Versus letting it go, you will have a foreclosure under your name for the next 7 to 10 years which would make it harder to start over.

Sell Everything!

Make a list and gather everything you can sell to help payoff the delinquency.  If its important to keep the home, sell the car, the tv, furniture, anything! Let go of things that are costing you money monthly.

Speak With An Attorney

Lawyers may be able to help you extend the time you have before your house forecloses.  At times they might be able to stop the process all together. If you options are thin, contact a real estate attorney for options.  Here at Bold Offers, we work side by side with attorneys to find options tailored to your situation.

Rent Out Your Home

Renting out your house might be another option that could stop the foreclosure.  The tenants will be able to keep up with the mortgage payments.

No matter what your situation is, we at Bold Offers have the solution.  Together we will find a way fight the banks from taking your property.

 

Posted in Foreclosure
Oct. 24, 2019

Greater Las Vegas | Market Report

Greater Las Vegas Real Estate Market Report For September 2019

 

The number of combined closings totaled to 3,430 sales.  That is a 14.1 percent increase compared to last year.  Median closed sales price for SFH is $310,000 which is a 3.3% increase from 2018.

 

The residential market has improved in the recent months but remains 4.2% off the 2018 pace.

 

We are seeing a downward price pressures in the current market.  This could be because of so many factors.  One factor is the reflection of growing affordability issue as homes at the lower price points begin to vanish in the current market.

 

If you are looking to sell your home in the current real estate market or simply looking to purchase a new home, my team of experts can help.

 

 

Posted in Market Updates
June 24, 2019

Buying a House This Year? This Should Be Your 1st Step!

Buying a House This Year? This Should Be Your 1st Step!

Buying a House This Year? This Should Be Your 1st Step! | MyKCM

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so today.

Posted in Home Buyer Guide
June 24, 2019

First Time Buyers Are Saving for Their Dream Homes

Young First-Time Buyers Are Saving for Their Dream Homes | MyKCM

Young buyers (Millennials & Gen Z) have waited longer than previous generations to enter the housing market for their first home. However, this hasn’t stopped them from dreaming about the home they will eventually buy. Many spend hours searching listings and building Pinterest boards of their favorite home features.

According to a survey from Open Listings, 70% of single renters are more likely to spend their Sunday nights swiping through house listings than dating profiles.

All that time window shopping has led 45% of millennials to expect the first home they buy to be their “dream home”! They are willing to wait longer, save more for a larger down payment, and are pickier about the listings they want to tour and the features that they want to see in their first home.

Waiting a little longer to buy a home than their parents or grandparents did has also helped young buyers become more established in their careers prior to making such a large purchase. Lawrence Yun, NAR’s Chief Economist, recently commented,

"Older millennials are now entering the prime earning stages of their careers, and the size and costs of homes they purchase reflect this. Their choices are falling more in line with their Gen X and boomer counterparts."

In some areas of the country, high competition in the starter home market forces young buyers to wait longer. The extra money they save during that time opens their search to bigger, more expensive homes.

If this trend continues, older millennials will skip the starter home altogether, going straight to a trade-up or premium home instead.

Bottom Line

If you are one of the many young renters planning on buying your first home soon, let’s get together to help determine what type of home will best suit your present and future needs.

Posted in Home Buyer Guide
June 21, 2019

2 Myths Holding Back Home Buyers

2 Myths Holding Back Home Buyers | MyKCM

Freddie Mac recently released a report entitled, “Perceptions of Down Payment Consumer Research.” Their research revealed that,

“For many prospective homebuyers, saving for a down payment is the largest barrier to achieving the goal of homeownership. Part of the challenge for those planning to purchase a home is their perception of how much they will need to save for the down payment…

…Based on our recent survey of individuals planning to purchase a home in the next three years, nearly a third think they need to put more than 20% down.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the funds needed to qualify for a home loan. According to the same report:

22% of renters and 31% of homeowners believe lenders require 20% or more of a home’s sale price as a down payment for a typical mortgage today. And,

“If a 20% down payment was required, 70% of those who were planning to buy a home in the next three years said it would delay them from purchasing and nearly 30% indicated they would never be able to afford a home.”  

While many believe at least 20% down is necessary to buy the home of their dreams, they do not realize programs are available which permit as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined!

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Many either don’t know or are misinformed concerning the FICO® score necessary to qualify, believing a ‘good’ credit score is 780 or higher.

To debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.2 Myths Holding Back Home Buyers | MyKCMAs indicated in the chart above, 52.4% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

Posted in Home Buyer Guide
Jan. 2, 2019

Home Is Possible Program : First Time Home Buyer Program

The Home Is Possible Program

Is a First Time Home Buyer Program in Nevada.  Established in 2014 and its purpose is to help First Time Home Buyers get up to 5% of the loan value.  The Home Is Possible Program is widely used by plenty of First Time Home Buyers.  I mean, it is that what its designed for.

Program Requirements:

 

  •  Qualifying income below $98,500 
  •  Home price below $400,000 
  •  Minimum credit score of 640
  •  Must live in home as primary residence
  •  Home Buyer Education Course
  •  Must meet standard underwriting requirements
  •  One-time fee of $675

Homeownership is a lot closer than you think.  You can visit homeispossiblenv.org for more information on the program or Contact Us today for a Non Obligation Consultation.

You can also click Our First Time Home Buyer Guide

If you're a First Time Home Buyer, you might have a lot of questions.  With the internet having so much information, you could become confuse and overwhelmed by all the info.  My team and I are here to let you know that we are just a contact away.  We would love to speak with you about the whole buying process and the expectation of purchasing your first home.  You can reach me personally if you Click This Link

Posted in Useful Information
Nov. 7, 2018

MARKETING PLAN OF ACTION

       

 

REDEFINING

SERVICE IN REAL ESTATE

 

Selling a home in today’s market can be challenging - the Chris Quiazon Group understands that. While the market can be challenging, hundreds of homes are sold each week in the Valley. What’s the difference between selling your home or failing to do so? The Details! Whether it’s our proven sales approach, effective marketing campaigns, or utilizing our extensive network, with the Chris Quiazon Group no detail is overlooked. We pride ourselves in the use of technology and innovation to maximize the exposure of your home.

 

When we say we are “redefining service in real estate,” we mean it! Our clients come first. We will educate you on what needs to be done to have a successful sale of your home. There are many components to a successful real estate transaction; you can count on us to be there every step of the process and make sure no detail is overlooked. With a proven track record, and the right skill set, the Chris Quiazon Group has the right tools to successfully sell your home. If you’re serious about selling your home, we’re serious about getting the job done!


"Quiazon Group" - If you are unhappy with our service at anytime, just  contact us and we will immediately release you from your listing contract.

Now more than ever, who you work with matters!

 

 

 

MARKETING CHECKLIST

mls INPUT

JUST LISTED CAMPAIGN
SOCIAL MEDIA AD CAMPAIGN
PERSONAL LISTING WEBSITE
PROFESSIONAL PHOTOGRAPHY
PROFESSIONAL VIDEOGRAPHY
STAGING
SIGNS
EMAIL BLAST
AUTO POPULATE  OVER 700 REAL ESTATE WEBSITES : ZILLOW, TRULIA, HOMES, ETC.
INTERNATIONAL EXPOSURE THROUGH REALTY EXECUTIVES INTERNATIONAL
COMPETITIVE PRICING
MAXIMUM EXPOSURE

 

PROFESSIONAL PHOTOGRAPHY

 

PROFESSIONAL VIDEOGRAPHY

 

 

CONTACT US TODAY, WE’RE LOOKING FORWARD TO WORKING WITH YOU AND GETTING YOUR HOME SOLD!

CHRIS QUIAZON

702-235-7413

QUIAZONTEAM@GMAIL.COM

Posted in Selling