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

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
Oct. 30, 2018

September 2018 Market Update

September 2018 Housing Market Update

Units Sold for the Month of September For SFR is 2,436 which is 20.7% Below from august and 16.5% below from last year.

 

We took 3,728 New Listings increasing our supply of inventory to 2.5 months.

 

The median Single Family Residential sales price increased by 13.2% at $300,000

 

 

 

 

 

 

 

 

 

 

For quite some time, we were seeing spikes in prices and shortage of inventory.  As of September 2018, we are experiencing the shift of a real estate market.  

For more information of your the market or your homes value, please contact us at 702-235-7413 or Quiazonteam@gmail.com

 

Chris Quiazon

Realty Executives of Southern Nevada

#realtor #realestate #realtyexecutives

Posted in Market Updates
Oct. 29, 2018

5912 Tiperrary Street

5912 Tipperrary Street for Sale

 

4 Bedrooms

3 Bathrooms

3 Car Garage

3,453 Sq Ft Living

6.970 Sq Ft Lot

Den

Two Separate Living Spaces

Laminate Flooring

Saltillo Style Flooring

In Ground Spa

Landscaped

Backyard Patio

Bedroom Downstairs

Granite Counter Tops Overlooking the Great Room

 

This is a very beautiful home in the growing city of Las Vegas.  A must see, don't miss out on this one.  

 

Contact me today to schedule showings and price information.

 

You Can view the full listing on ZILLOW or Click Here.

 

 

 

 

Posted in For Sale
Oct. 17, 2018

Price Reduction : $318,000

Contact Chris Quiazon for more information 702-235-7413 : For more information on properties for sale in Las Vegas - South West https://www.chrisquiazon.com/
Posted in For Sale
Aug. 7, 2018

Las Vegas' housing market is showing signs of easing

During my attendance of the Relentless Event, hosted by Danny Morel.  We had the honor of having Alex Rodriguez "Arod" as a guest speaker.  Arod is a baseball legend, and what qualifies him to speak at a real estate event is the fact that he owns over 7,000 units of real estate.

When Arod had the stage, he mentioned that with age, comes experience.  The markets become a lot more predictable when you've experienced different crashes, setbacks, and highs.  Arod is currently liquidating a portion of his portfolio because he sees another disruption in the real estate market.  

The Las Vegas Review Journal sums it up in this article...  READ MORE

Posted in Market Updates
Aug. 3, 2018

Just Sold : Harmony Avenue

 

5220 Harmony Drive

Selling Harmony Drive was an experience.  This property was an EXPIRED LISTING!!!  The property expired from the listing twice.  The first listing was priced at $165,000 and it was in the market for 148 days before it expired.  The second listing was priced at $177,000 and was in the market for 198 days before expiring.  Then I took the listing from three other agents, and sold it for $205,000.

The journey began when I was doing my daily prospecting.  Looking for clients who were selling their homes but ended up not selling and making it on the expired list.

Just a quick summary on what the "Expired" are.  Expired homes are homes that did not sell during the duration of the listing contract which is usually 6 months minimum listing.  There are many reasons why homes fail to sell.  It could be the agent or it could be the seller itself.  It usually never is the market because a strong agent such as myself can sell anything in any market.

Main reasons why homes fail to sell include:

Over Pricing

Unmotivated Sellers

Property Conditions

If a property is priced well, seller has real motivation to sell, and the condition of the property is fair, a house will always sell.  A house will find a buyer for itself with minimal marketing.

 

In regards to the property in Harmony, the previous two prices were well below market value.  Why did it not sell the first time around?  Property condition, the agent, and the seller.

 

So how was I able to sell it at above market value?  Well I knew the sellers motivation and I connected very well with the sellers.  "who you work with matters"  Next was the condition.  The property was not in good shape.  What was challenging was the fact that my Sellers lived in California and they only came out once when they interviewed me. Aside from that, I took care of everything.  I called every contractor I could find to help make this home the beauty it is now while having a small budget.

We fixed every known issue, we staged the home, we took beautiful photos.  I started the marketing two weeks before it even went live on the market.  I was already building up the home.

As soon as the listing went live, I've had over 30 showings in the weekends, 15 offers, 3 excellent offers, and 1 that ruled them all.  It took three days in the market and the fourth day we were under contract.

A home that is priced well, marketed well, will sell in any kind of market.  You need an agent who will go above and beyond.  The average agent in the United States only sells four homes a year.  I'm sure you'll understand when I say, "Who you work with matters"

 

If you or someone you know is having challenges with the market, contact us today, with no obligations.  We would love to help in anyway possible.