This week we have 2 clients that purchased homes get appraisal "waivers." Why would this happen? Should I waive my appraisal as the buyer? An appraisal waiver is when the lender reviews the contract, down payment, buyers credit score, and based on the figures concludes that the homes sale price is appropriate. Just because a lender waives the appraisal, this does Continue Reading
home appraisals
LV Real Estate Radio Has A New Show Coming Up At 11 AM!
LV REAL ESTATE RADIO HAS A NEW SHOW COMING UP AT 11 AM! This week's new LV Real Estate Radio show is going to have you on the edge of your seat! Harvey is joined this week by TWO lenders! RateWise Mortgage's Kari Phillips and CrossCountry Mortgage's John Ingram join him today. First, Harvey brings in an interesting article about a party house in the northwest section of the valley. There have Continue Reading
Getting A Home Appraisal: What You Need to Know
GETTING A HOME APPRAISAL: WHAT YOU NEED TO KNOW Have you ever watched "Antiques Roadshow?" If you haven't, it's a show on public television where people bring items down to the Roadshow. People who value art, furniture, and other items are there. These people take a look at the items brought in, and give that item a value of what it's worth: an appraisal. Home appraisals work in a Continue Reading
Kari Phillips & Rowe Nelson talk VA Loans & Appraisals
Our radio show on April 27th featured Kari Phillips and Rowe Nelson of Southern Fidelity Mortgage in one of our segment parts. In addition to Kari's wealth of information regarding VA Loan requirements and special incentives they are offering for Veterans in the month of May, Rowe added some great information on the appraisals and how it relates to the loan process. Some of the benefits of a VA Continue Reading
ANOTHER BIG NUMBER- AN ASKING PRICE THAT IS TOO HIGH!
My background prior to my 25 year real estate career was in the field of education. I was always going to be a teacher and got my degree in French from the University of Nevada, Reno. When I got into real estate in 1986, I was told teachers were generally successful in this field and it made sense to me. Buying or selling a house is an educational process. The terminology and the processes are Continue Reading
Appraisals are coming in again!
APPRAISALS ARE COMING IN AGAIN You may remember my rant some time a go about appraisals hindering the ability of regular home owners to purchase a home. Well, don't let it be said that I don't give credit where credit is due. We are seeing appraisers do their job properly and allowing values to increase so regular home buyers can buy again. There is still the odd exception, but generally we are Continue Reading
Make your home for sale available to everyone
MAKE YOUR HOME FOR SALE AVAILABLE TO EVERYONE As a busy agent here in Las Vegas, I have seen a disturbing trend. Homes are being sold before they get to MLS and often by a buyer being represented by the listing agent. I have represented both parties in a transaction before and I will again in the future, but I will only do it with full disclosure to all parties and only when it's mutually Continue Reading
Are appraisers helping investors?
ARE APPRAISERS HELPING INVESTORS? I know that I tend to beat up appraisers so let me preface this post by saying that I know some very fine and professional appraisers that don't deserve my comments. That being said, I need to relay a story that happens all too often. An FHA buyer submitted and had accepted an offer on a beautiful one story home in Summerlin. His offer was equal to the last Continue Reading
Las Vegas Real Estate Market Update April 2012
LAS VEGAS REAL ESTATE MARKET UPDATE APRIL 2012 Have you ever heard the saying "If you don't like the weather, wait a minute." Well, that applies to our real estate market too. The most recent development surrounds our current inventory. As of this moment we have 5,474 single family homes available in our entire multiple list. We have 13,113 single family homes in escrow. We have closed 3,195 Continue Reading
February Market Conditions
FEBRUARY MARKET CONDITIONS Available inventory remains stable in the market. Prices remain stable for listings under $200,000. Listings above that are still experiencing some small drops. Short sales dominate our market but traditional sellers are making up a bigger portion of our current inventory than we've seen in recent years. We've seen some small improvement in appraisals where the Continue Reading