The Graham Team Real Estate | Crown Point Realty | Gidget Graham -Realtor

Yes, there are some instances where you can back out of a home purchase. Depending on the issue, you may lose earnest money which is basically your deposit money. You can also face legal consequences if you back out of the agreement for a reason not outlined in the purchase agreement. The purchase agreement outlines the terms of the purchase. It's important to discuss with your professional realtor if there will be ramifications for backing out of a purchase.

Have you ever walked through a new home that is staged?? this is the best example for preparing your home. The idea is for someone to come in and begin visualizing their own family photos on the wall and their own personal items in place. This means removing all your day-to-day items, knick-knacks, family photos, etc. We want to present your home as neutral as possible so all walks of life can see themselves living there. This helps create more emotional buyer, willing to pay a little more for a home, rather than a deal shopper looking to negotiate for less.

Although offer agreements technically have a time and date of expiration, depending on the market, sellers may take a few days to respond. If you make an offer and the seller doesn’t respond at all, your offer was probably too low. To increase the likelihood that your offer will be accepted, it's important to work with a proven professional real estate agent that can help you strike the right balance between a reasonable cost for you and an appealing price for the seller.

Good question but unfortunately, a local agent cannot help you buy a home in another state if they are not licensed in that state you are moving to. However, a good local professional agent will most likely have connections in various states and be able to provide you a referral. If they do not know someone directly, it is still a good practice to have your local agent interview out-of-state agents on your behalf to ensure you connect with a professional that is capable of providing the top-level service you deserve.

Most Buyers are purchasing a new home because they want to customize it their way and with the newest styles and trends. For builders who do limit your option ability, this changes as Builders supplier and construction schedules, you will have a lot of choices. A good rule of thumb is to not exceed 15-20% of the purchase price with your option selections, otherwise, if you are financing, you could have an appraisal concern. Now that you have a budget goal start with the structural or behind the wall options. These are the most expensive to change or modify later. The next budget focus should be on those items that are costly to replace/remodel such as cabinets, walk-in showers, and countertops. Lastly is the finishes that you can always add later as your budget allows such as upgraded flooring, landscaping, fancy doors & gates. Enjoy your time at the builder's design center and ask lots of questions. It your day to make this home yours!

A final walk-through is not required but highly recommended. Final walk-throughs give buyers a chance to make sure nothing has changed since their initial inspection or previous visits. Also, if repairs were requested as part of the sale offer then a follow-up visit ensures all repairs are done according to the agreement and contract.

Many of us who's lived in our homes for years come to live with the little nuisances that every home has, some more than others. You loved the time you lived in your home and you expect everyone else to as well. Most qualified inspectors will focus on the home's structural, systems, and mechanical operations. Meaning, that they are making sure the home functions as it was designed. So those little items you have learned to live with such as a garage door not closing correctly most likely will be listed. You may be handy and made some home improvements that may have some small code compliance concerns. But truly unless your home has some severe deferred maintenance that could not be seen with the Buyer purchased or a large system such as HVAC that is not functioning, you should not be worried. Buyers have the right to ask for repairs but Sellers have the right to say no, it is a point of negotiation. Most inspections reports are fair and represent the home's condition in fairly.

Request for repairs are fairly common with every transaction. It's important to keep in mind the request is a negotiable item, not mandatory. In general you have 3 options. You can choose to decline the request, agree to make all or a portion of the repairs, or offer a credit to the buyer for closing costs. Deciding what option is best for the deal will usually depend on the market conditions and type of request being made. If the items requested are of safety concern or potentially a large expense to the buyer, negotiating a credit towards closing cost could be the most viable option to get the deal done. Having the right professional agent is vital for the best success when negotiating a request for repairs.

The federal reserve does not directly raise or lower mortgage rates but their policies do. The first policy is that they actually purchase mortgage back securities, which means they are purchasing mortgages. They were purchasing as much as $120 billion, this is supply and demand principles. By purchasing such a large quantity they are pushing up demand which lowers the price, which is the rate being offered. The second policy is increasing the federal reserve rate, which is the cost the banks pay for the overnight use of funds. Mortgage rates trend with the 10-year treasury bond. The bond market does watch closely what the Federal Reserve is forecasting, which indirectly impacts mortgage rates. Last week the Federal Reserve indicated they will likely be increasing the Federal Fund rate at a quicker rate than previously indicated. This sent the bond market, ie the 10-year treasurer bond to increase their rates, which lead to mortgage rates rising .5 basis points or a .5%.

A final walk-through is recommended, especially if the home was occupied up until closing time. Final walk-throughs give buyers a chance to make sure nothing has changed since their initial inspection or previous visits. It is also a good time to determine if you would like to possibly do some painting or have the floors and house cleaned.

I am glad you asked! It is so important to not make any large purchases during the home buying process-you want to make sure you do not have any lending issues until the home is closed (meaning the deed is in your name). Even if you are paying cash-you don't want to open any new credit or withdraw too much money out of your bank account giving your lender any concerns. Once the keys are in your hand-you may begin to purchase furniture or any other items to make your new home yours!

Great question! You don't know if you don't ask-as a qualified real estate agent-we have answers to most of those questions however, programs change quite often with lenders and we certainly don't want to miss out on an opportunity for you to own the roof over your head! We have relationships with several lenders who actually answer our calls-contact us and we will be more than happy to get some research done for you in your specific situation. There are several programs that can help with the down payment and other situations that may be holding you back from buying a home. We know you are tired of having a landlord control what you can and cannot do-Don't be afraid to reach out to us if all you need are some questions answered!

Yes, however you will want to consult with your professional agent and make sure the inspector is no only licensed but knowledgeable. Not all inspectors are equal in performance and ability. You will want to make sure the inspection report has covered all the items of concern.

As of 2/23/2022 the median sales price for a single-family home in the greater Las Vegas Valley is $445,000. Conventional loan rates for 10% are hovering around 4%, which calculates roughly to a monthly payment of $2,632. If rates rise to 4.5% using the same purchase price, the monthly payment is approximately $2,752. A good rule of thumb on loan qualification is your monthly payment should be around 30% of your monthly gross income. Using this formula at today's median sales prices for every 0.5%, you lose about $5,000 in sales price purchasing power.

We are finding that new construction homes can be up to a year out before they are completed. Once in awhile the builder may have standing inventory that a previous Buyer was unable to move forward on but more often you will have to wait-If that time frame works for you-be prepared to pay an additional cost for the lot you choose for your home. Quite often Buyers will need to bid against other potential Buyers for a lot which of course, can push up the cost. It is very important if you are considering a new home-that you reach out to a trusted real estate advisor before you visit the community. Builders will not work with an agent after a client has already visited the model homes. Builders do have agents onsite, however those agents are representing the Builder, and I am sure you want someone in your corner! Having an agent represent you does not change the price of the home-so why not have someone working for you!

In todays' market, most people are looking for a "turn-key" or "move-in ready" home. When considering improvements, it's best to stay current with local trends. Kitchen and bathroom remodel are always a big hit. Vinyl plank flooring, granite or quartz counters, and refinished cabinets are among the most popular updates that significantly increase your home value.

Lease backs are a great option for Sellers who need the funds from closing to purchase their new home. This allows the Seller to close escrow, get the proceeds while staying in their home for a period of agreed-upon time. This helps Sellers eliminate the stress of coordinating a tight closing schedule and gives them breathing room. Most leasebacks are short term, under 60 days. We've been able to secure for our sellers longer lease backs for those, but they are more rare than a shorter one. This works perfectly for those Sellers who are buying new home construction or have a job transfer that is out a little ways. In today's market, most of the time we are able to negotiate a lease back for less than 60 days at no cost to the Seller.

Great question. Yes, you may absolutely use anyone you choose. However, working with a local representative will make the transaction much smoother and easier. Many times out of state lenders are not familiar with Nevada law and request information for final loan approval that is not available. In addition, if you do not have a personal relationship with your lender, there is a tendency to be complacent in completing your loan documents on time. This potentially jeopardizes your deposit money and could possibly keep you from completing the purchase. When you work with a full-time professional real estate agent, they are very familiar with most lenders and can recommend a lender with great rates and excellent service.

If you are looking to invest in your future, purchasing Real Estate is a great long-term investment. When buying with a loan, its important to know that the home will most likely break even on an annual basis and your appreciation will primarily be your return rate. Once the home is paid off, then you are set with recurring income for life! The more down payment you have, the better. However as a general rule, a minimum of 20% of the purchase price is needed with the expectation of an additional 1%-1 1/2% for closing costs. Ideally, a 25% down payment if best in order to make the home cash flow positive.

Quick answers is interior paint and laminate flooring. However, we always advise the 1st step is to remove any negative that would impact a Buyer's 1st impression. You want to have the Buyer remember a positive impact about the home versus a negative. Example the home with all stored debris would be a negative, where if cleaned up the Buyer would remember the large side yard. If you have lived in your home for a while ask a friend to stop by and give their 1st impression thoughts, of course your real estate advisor should always be wiling to stop by and give you a recommendation as well.

Lending is one of the biggest reasons we see home purchases fail. It is highly recommended that you speak to a real estate agent that has established relationships with a lender that has proven they can handle the job, or that you use a highly recommended loan officer. Plus, don't you prefer to have someone that knows you and answers your calls instead of being treated like another number? You are certainly free to use any lender of your choosing, but you will have a deposit of thousands of dollars made on a home that is at risk should your lender fail to complete their part of the home buying equation, plus the risk of losing the home you have worked hard to buy.

We request that the Seller respond by a certain deadline that is included in the offer. Depending on the Sellers situation, for example, are they out of state or depending on work schedules, they may need some additional time to respond. We do verify with the listing agent on the amount of time the Seller needs so that we know when to expect a response as this can be a very nerve wracking time!

After a home inspection is completed, your agent will review the report with you and discuss the items that need repairs on the home. A 'request for repairs' document is generated and that document becomes a negotiation too between the buyer and seller. The buyer makes the requests and the seller has 3 options for response: 1. Agree to make some or all of the repairs, 2. Offer money towards closing cost in lieu of repairs, 3. Refuse to make repairs. It is important to have a real estate agent that is a strong negotiator during this process in order to achieve the most favorable outcome. Occasionally the buyer and seller cannot come to an agreement of which time the contract may be terminated and the buyer receives their deposit money back.

Yes: It is important to know the sales agent at a new home build represents the home builder and not the buyer. Having your own personal agent that is experienced in new home purchases is vital to protecting yourself and obtaining the best deal possible. Just as in a resale home, there are multiple contract documents to sign. Your agent assists in understanding exactly what you are committing to. Your agent will also keep track of key dates, lending, requirements, and other important milestones along the way, to ensure you do not lose your deposit money. In addition, when you have an agent experienced in the construction aspect of a home, they can assist by being your "eyes" during the construction. Most new home builders require that your agent is with you on the first visit to a new home community, so be sure to invite them to come along.....you will be happy you did!

The short answer is no- With the exception of New Jersey, the federal 3-day cancellation period applies only to mortgage refinancing, home equity loans or similar lines of credit secured using the home as collateral. However, there are points in an offer in which the Buyer may back out of the contract which is why it is very important to have a qualified agent keeping an eye on these dates for you!

PMI (Private Mortgage Insurance) is an insurance premium that is tacked onto a mortgage payment for home loans with a loan to value (LTV) ratio higher than 80%. This insurance premium is normally between $40 and $80 a month for every $100,000 borrowed. Conventional home loans have the option to cancel this insurance once the mortgage has fallen below the 80% LTV threshold. FHA loans do not have an option to remove this PMI and VA loans do not have PMI attached to their loans. For more information on this, contact the Graham Team.

Marketing your home means putting your home in front of as many buyers as possible. In the last year, 97% Buyers determine a home's value from its online presence. (source: NAR). That means their opinion is determined before they set foot in the home, therefore online marketing is crucial. To obtain top dollar for your home, you have to have a top dollar online presence. Our extraordinary marketing consists of professional photography & drone footage, a custom website, virtual 3D tours and video walkthrough tour for YouTube. We also run ads on Facebook and send our listings to our database that has 10K+ people.

The job of an appraiser has definitely been tough this year and we have seen appraisals be substantially difference in the same community for the same style & type of home. For Sellers, is important that you and your agent discuss the appraisal outcome before accepting an offer. For a good portion of this year, many Buyers were offer amounts over appraisal to solidify a home and beat out other offers. However, as inventory has increased and many of the buyers with the cash resources have already purchased we are seeing less offers waiving or offering substantially more appraisal. It is important for your agent to review the appraisal and determine if they see any discrepancies on the appraisal comparables that should have or should not have been used. The Buyer/Borrower can ask for a review of the appraisal if they is supporting comparables to increase value. We have had to complete this process several times this year.

Great question! It depends on the bank institution, some banks are as low as 600 FICO. However, the higher your credit score, the better the interest rate you qualify for. In general, a credit score over 760 is optimal in order to obtain the best rate.

We are with you every step of the way, including notifying you when to turn off your utilities. The utilities need to be on for the Buyers walk-through which is typically completed a couple of days before the transaction closes. We recommend keeping utilities on until the day after closing. We will send you an email notifying you when to start contacting the utility companies, along with links with all of their contact information.

When your Graham Team agent helps you write an offer on a home, they will include contingencies in the offer that fit your specific circumstances. For example, typically a Buyer will have 7-12 calendar days of Due Diligence in which time the Buyer can cancel the Purchase Agreement without any cost from the Buyer (except for any payments made for inspections, appraisals, etc.). Additional contingencies can be added to your offer according to your needs. However, keep in mind that when we are in a Seller's market (like we are right now) the more contingencies and the longer those contingency periods are, the less likely the Seller is to consider your offer. Your Graham Team agent will help you identify what contingencies are most important for your unique situation and advise you on what would also help keep your offer competitive in today's market.

Working with a confident Real Estate agent the works full time in the industry, studies the market daily, and keeps up with the latest what the latest trends are and where they are going, it the best option. Things to consider are Location, school districts, proximity to shopping, and dining. In addition, having a home that has had the finishes updated is always a prime factor.

Typically the closing process on a home takes about 30 days while accomplishing important milestones along the way. These mile stones can consist of inspections, receiving an appraisal, receiving full loan approval, and signing loan documents. While majority of home purchases include these milestones, each step in the closing process will look a little different for each buyer due to the unique conditions of the home, the seller, and the buyer. For example, older homes may have a more extensive inspection report and require more items to be addressed/fixed by the seller prior to closing on the home. This is why it is essential to work with a Graham Team agent who has helped clients buy and sell thousands of homes and has come across many of the obstacles that may show up in the middle of closing on a home.

So, you want to buy a home, but are not sure what the process looks like. The best thing to do is to connect with a Realtor who has helped hundreds of other people identify what they want in a home, then find the home, and then submit a well written offer on the home. The Realtors with the Graham Team are trained by experience to ask the right questions to help future home owners identify their needs and wants so that they buy a home that matches the lifestyle they want to live. Then our Realtors find homes that match what our clients want. Once our clients identify the home they want, we help them write the offer that matches our client's desired budget and written in such a way that grabs the Seller's attention. The first step in writing an offer on a home is to meet with a Graham Team Realtor. Our Realtors will help you get into your desired home.

The first step is to contact a full time experienced real estate expert that you feel comfortable with! The Graham Team loves coming along side our Buyers for every step of the process to make sure they are prepared for what is next in the home buying process. We are very communicative and available throughout the entire transaction and well beyond to share our expertise. We also like to have a lot of fun throughout the process as this is a very exciting step in someone's life!

Unfortunately, there are some areas that we cannot control such as if a Buyer loses their job or has another life alternating event occur. The Graham Team does reach out to all parties involved in the transaction, including lenders, to ensure that every transaction is as solid as we can possible make it. Any issues in a transaction is unfortunate for all involved, our goal is to avoid these by being very proactive before the offer is accepted to guide our seller to accept the best offer.

Great question! Knowing what you can afford is typically top of mind for Buyers-as it was for me when I bought my home! We are more than happy to provide an idea as to what this number is, what you will need for a down payment, for the inspection of the home, appraisal, closing costs and other items that may come up during the home buying process. We also have an excellent lender we can have contact you so that you get a true picture of what you can afford regarding your monthly payment. This may sound overwhelming, but the Graham Team is more than happy to come along side of you and guide you through every step so that you can have the freedom of owing your own home!

Model Homes are the ideal situation, that is why all the home builders in the nation build with lots of sizzle. If your home is a showcase home with currents trends and styles then show it off and leave it furnished. But most of us do not live our lives in model homes so the next best thing is keeping the furniture that is most attractive and compliments the room. The goal is to show off the positives and remove any negatives that are practical to do. Decluttering, empty counters, reducing wall pictures and personal effects is highly recommended. As an agent, our job is to provide you information and resources to deliver your home to market so it will attract the highest amount of qualified buyers which brings you the best price. We also know that most people have to live life while their home is on the market so we have to balance what is perfect condition with our client's lifestyle.

We want to take advantage of every potential showing and for potential buyers to feel as comfortable looking at your home as possible. Most Buyers feel more comfortable looking at a home while no one is there.

It is most advantageous to make your home as available as possible, however, you do have the ability to control the times that your home can be shown. For example-if you prefer no showings before 9 am or after 7pm-we can certainly arrange that!

In real estate the "type of market" is based upon the amount of inventory measured by months. Nationally, a Buyer's market is considered over 6 months of inventory, a Seller's market is under 3 months. Neutral is 4 to 5 months. For Southern Nevada, we historically have a smaller window. Sellers market is under 2 months, Buyers market over 5 months and neutral is between 2 and 4 months. It just relates to supply and demand, if supply is more than demand, then Buyers have a stronger negotiation platform and more options. In a Seller's market prices tend to rise and Seller doesn't tend to negotiate on terms or price, in a Sellers market homes sells quicker and tend to have multiple offers.

This is a very good question. In this fast paced, competitive market, many homes are selling for a higher market value compared to the actual apprraised value. Market value being what people are willing to pay and appraised valus being what the appriaser determines the home is worth. In a situation where apprasied value is below the market value, or the amount agreed upon, there are typically three options. -The buyer and seller negotiate and the seller agrees to sell at the appraised value -The buyer agrees to pay the seller the difference between the sale price and the apprasied price. -The buyer and seller cancel the sale and the deposit money is returned to the buyer.

This is a question a client asked us recently. We recommend that you do not have a garage sale while your home is listed-we want your home to be shown in the absolute best light and also potential buyers to feel as comfortable looking at your home as possible.

We are still very much so in a Seller's market. The market has slowed down from being a frenzy, but it is still a hot market. This may mean that it is the opportune time to sell, if prices to begin to level out. However, majority of economists do not foresee the market to take a turn into a buyer's market for many years to come. So, it is also a good time to buy still.

Excellent question. Homestead is a Law which enables you as the owner to protect some of your home equity from creditor claims. The Clark County websitegives a step by step process for submitting the Declaration of Homestead form. It is advised that you discuss this option and process with an attorney.

There are a few things that need to happen right before you receive keys. Your agent will schedule a signing appointment with escrow to review the estimated closing costs. Then you will do a final walk through of your home. And the last step will be the loan funding and title transfer after your lender wires funds to escrow, if you have a loan. Escrow will release the deed for recording once they have received the lender's funds. Finally, closing day is when you will receive the keys to your new home!

A home appraisal is an unbiased estimate of the fair market value of a homes worth. The vast majority of lenders order an appraisal so that there is an objective way to assess the home's market value and ensure that the amount of money requested by the borrower is appropriate. We typically allow 20 to 25 days for the appraisal to be completed and to receive the appraisal report back. The lender will have a list of approved appraisers that they will use to complete the appraisal. When the lender is getting ready to order the appraisal, they will typically send you a link to pay for the appraisal. Once completed, the appraisal will be scheduled. The appraiser will then go out to the property, assess pertinent information about the home such as age, square footage, and amenities such as granite counter tops, pools and lots of other factors about the home.

We would say that there are a lot of great communities all over the valley grouped into these towns/areas: Henderson, Summerlin, Southern Highlands, Aliante, North Las Vegas, Spring Valley, Northwest (Centennial), Paradise, Southwest and Downtown to name a few. It really all depends on your preferences, but we can definitely make some recommendations for neighborhoods once we get to your know search criteria a little better.

This is a great question. You'll want to talk with a professional real estate agent who knows your market and knows who today's buyers are. We will gather up some important information about your house and run some numbers for you to give you a ballpark of what it could sell for in today's market. Then, we will most likely come to see you and your home and discuss into detail what The Graham Team does to put your home in-front of as many potential buyers as possible. Call us today to discuss your options! 702-930-9551

Final loan approval is issued by your lender once the underwriter has reviewed your loan and all conditions have been met. The final loan approval process occurs during the time frame you are under contract for your home purchase. The sales contract, an appraisal of the home, verification of employment and last-minute credit updates are some of the things that occur during this time frame. Typically, this process takes 20 to 25 days, depending on how fast you are on providing the lender required documentation.

Another commonly asked question - A variety of closing costs, or lender and third-party fees, are paid. Also, closing costs can be incurred by either the buyer, or the seller. These fees typically range from 1.5 to 3% of the purchase price of their home in closing fees. Please check out our article that goes into detail about this process: https://blog.chime.me/grahamteam-chime-me/2020/12/27/what-are-closing-costs/

Great questions. The Graham Team recommends getting a preapproval completed prior to looking for that perfect home. It is a good idea to get the preapproval step completed early on so that if the lender needs additional documentation or additional information you have time to get that to them. The preapproval can generally be issued within 1-3 days after the lender has received a completed loan application. Credit pulls hurting your credit - that depends. There are two different types of credit pulls: a soft credit pull and a hard credit pull. Soft inquiries are used for an initial look at your credit history. These do not negatively affect your credit. On the other hand, hard inquiries can negatively affect your credit. While a hard inquiry will stay on your credit report for two years, it will usually only impact your credit for a few months. The impact can vary but typically will affect your credit about 5points for every hard pull.

This is a great question and one we get quite frequently. The amount of your debt, your credit score, down payment, all factor into your interest rate and cost for the loan so the amount you will pay in interest can vary. Here is a brief summary about what lenders look into: - Lenders use a weighted rating system called FICO score - Lenders will look into your payment history, the amount you owe to creditors, and how long you’ve been using credit. It is possible to qualify for a mortgage with a low credit score, but you’ll pay higher interest rates. That in turn leads to higher monthly payments.

These are 4 important steps to protect a homebuyer and give them time to accomplish a certain task. 1. Buyers feasibility / Due diligence 2. Appraisal contingency 3. Loan contingency 4. Home sale contingency We would love to talk you through each of these very important steps to explain further in detail. Please give us a call at 702-930-9551!

This is a great question, and one we get quite frequently. We would love to chat with you over the phone in detail about this process. Both buyers and sellers need to go through a home inspection. A home inspection is an examination of a property's safety and current condition. . During this process, the inspector will look for issues that the home may have, whether it be minor or major. It is important to choose an inspector with a lot of experience, not only just as an inspector, but in the construction field as well. It’s vital to learn of any existing issues… as well as any potential issues that may be costly in the future. In general, a home inspection will take about two hours.

This is a great question, and one we get quite frequently. We would love to chat with you over the phone in detail about each of these steps. Here is a quick overview: 1. Get pre-approved 2. Start looking 3. Open escrow account 4. Know your contingency dates 5. Receive full loan approval 6. Settlement statement 7. Schedule signing appointment 8. Final walk-thru

The short answer - yes. A survey from NAR shows that 77% of buyers' agents say staging a home makes it a lot easier for potential buyers to visualize it as their own. Here are some of our top tips: 1. Dress up your yard: First impressions count, and the first one your home gives comes from the exterior. 2. Reduce personal items: Make it easier for buyers to visualize by removing personal photos and knick-knacks from shelves, walls, and counters. Instead replace them with clean, simple décor. 3. Organize your storage areas: Storage is a huge selling point. Tidy up and clear out the accessible closets and cupboards. 4. Appeal to the Senses: bake some fresh cookies or burn delicious smelling candles and play light, relaxing music in the background. 5. Consider an Expert: With their knowledge of current trends and a great eye for design, professionally certified stagers can transform a home in a variety of ways.

In today's market, this is a commonly asked question we get. 1. Find what your options are Work with an experienced Realtor. Get everything you need to sit down with your agent and lay all your cards on the table. Your Graham Team Realtor will guide you in finding out what your home is worth, what equity you have, and find a lender to help you with your qualifying options. These will determine if you’re able to purchase your next home without selling your current home or vice versa (you need to sell first, and then buy). 2. Sell your current home first If you need to sell your current home first, we will work hard and try to get you a “lease back” on a home for 30 to 60 days, ideally just a little longer than escrow. This allows us to get your home under contract and hit the ground running for your next purchase.

1. Your Payment History 2. The Amount You Owe 3. Length of Your Credit History 4. Your Credit Mix 5. New Credit