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By Connie Esparza
Ready to buy your first home in the Las Vegas Valley? The Connie Esparza Team at LIFE Realty District specializes in helping first-time home buyers like you find their dream property in the Las Vegas and Henderson areas.
Before you start searching for homes online, it's important to take the first step to house shopping: Getting pre-approved for a mortgage.
Your pre-approval will tell you what you can afford and what your monthly payment will be, so it's important to determine this before you start searching for your new home.
Pre-approval is good for about 30-90 days, so once you're ready, take these first 3 steps to get it done.
1. Contact us, and we’ll send over a list of lenders we know and trust.
2. Look over the list, check out online reviews, and ask friends and family for referrals.
3. Email 2-3 lenders you like or let me introduce you over email.
Once you've got your pre-approval letter in hand, it's time to start the search!
Before we hop into the home search, we like to advise our clients to create a 'Needs' list and a 'Wants' list. This will help us to really focus on the things that are most important in your future home.
Needs are the non-negotiable features; the features you simply must have in your next home. Wants are the ones you’d like to have, but you can add or change down the road. Remember, you can’t change the lot or the location so make sure you love both.
Once you've established what you're looking for, we will set you up on a search so you can receive an email the second a home that fits your criteria goes live. If you have any questions about a property, send us the information and I will find out for you. Send us listings you like and we can get more information and set up showings on your behalf.
After touring houses and choosing the one you love, it's time to make an offer. To do this, you'll need your pre-approval letter or proof of funds. You'll also need to make an escrow deposit of at least 1-2% of the purchase price. This will go towards your closing costs at closing.
Have more questions about buying a home or what happens after making an offer? Reach out to us today!
Vintage Homes... what to expect and more!!
Thinking about buying Vintage?!
Now days these Vintage Homes are so eclectic and people are buying them left and right!
Buying a vintage home can be a unique and exciting experience.
Here are some things you can expect:
Unique Architecture
One of the most obvious things you'll notice is the unique architecture and style of the vintage home. They may feature original details such as ornate crown moldings, leaded glass windows, hardwood floors, antique fixtures, taller than the average windows, high windows, or vaulted ceilings.
Maintenance and Repairs
Vintage homes can require maintenance and repairs due to their age. Some repairs may be costly, and you'll want to factor that into your budget. Consider getting a thorough inspection of the property including a regular home inspection, plumbing inspection, and possibly a roof inspection before buying it to determine any potential issues. Working with your Realtor to ensure these potential issues are dealt with before moving in!
Potential for Renovation
You may want to renovate or update the vintage home to make it more functional and modern. This can be a fun and rewarding process, making a home into something that works for both your needs while keeping that vintage charm is all part of the fun!
Efficiency
Vintage homes may not be as energy-efficient as newer homes. You may need to make updates such as adding insulation, upgrading windows, or replacing appliances to make the home more energy-efficient. These are all the fun challenges that come with these vintage homes, but having a realtor who knows everything vintage helps!!
(side note: Connie Esparza and her team have worked with MANY different vintage home purchases)
Neighborhood Character
Vintage homes are often located in historic neighborhoods with a distinct character and charm. You'll want to research the neighborhood to ensure it fits your lifestyle and needs.
Overall, buying a vintage home can be a wonderful experience if you're ready to put in the effort to maintain and restore parts of it, but have no fear with the Connie Esparza Team we know all there is to know about Vintage in Vegas!
How does having a realtor help??
Realtors can be invaluable when purchasing a vintage home.
Here are some ways they can help:
Experience and Expertise
Realtors with experience in selling vintage homes can provide valuable insights on the market and potential issues that may arise during the buying process. They can also help you navigate the unique challenges that come with purchasing an older property.
Knowledge of Local Regulations
Local regulations may require special permits or approvals for renovations or repairs on vintage homes. A realtor who is familiar with the area can help you navigate these regulations and avoid potential legal issues.
Access to Resources
Realtors often have access to a network of professionals who specialize in vintage homes, such as architects, contractors, and home inspectors. They can connect you with these resources and help you find the right professionals for your needs.
Negotiating Skills
When purchasing a vintage home, there may be negotiation involved around the price and any repairs that need to be made. A skilled realtor can help you navigate this process and negotiate on your behalf to ensure you get the best deal
possible.
Market Knowledge
Realtors can provide valuable information on the local real estate market, including recent sales of vintage homes in the area. This can help you make an informed decision on the price and potential resale value of the property.
At the end of the day, realtors can be a valuable resource when purchasing a vintage home, providing expertise, knowledge, and access to resources that can help ensure a smooth and successful transaction.
Connie Esparza is skilled in the Vintage Home Market!!!
Don't wait!!
Reach out today to start looking at everything Vintage in Vegas!
National Market Update
January 23, 2023
By Connie Esparza
The median home price for single-family homes sold in December 2022 in Las Vegas dropped to $425,000, down from November 2022 when it was $430,990.
There were 1,534 single-family homes sold in December 2022, which is up from the number of homes sold in November by 0.9% and down 51.7% from December 2021.
There were 4.0 months of inventory available on the market at the end of December, which is an increase from December 2021 by 471.6%, but down from November by 16.1%.In December, 40.8% of all single-family units sold in 30 days or less in the Las Vegas Valley. This number is down from 47% in November and down from 75.1% last year.
The average days on market for single-family homes in the Greater Las Vegas Area during December was approximately 24 days, a small increase from November when the average time on the market was approximately 23 days.
The Las Vegas condo and townhome market also saw a decrease in the median price of units sold during December, dropping to $246,950 from $260,000 in November 2022. Compared to December of the year prior (2021), this number is up approximately 2% when the median price was $242,000.
There were 392 condo and townhouse units sold in December, and by the end of the month, there were 1,390 units available, with 3.5 months of inventory available on the market.In December, 41.8% of all condos and townhomes sold in 30 days or less. This number is down from 49.1% in November and down from 79.7% in December of last year.
The average days on market for condo and townhouse units in the Greater Las Vegas Area during December was approximately 21 days, this is an increase from November when the average days on market was around 19 days.
Connie Esparza Team
LIFE Realty District
2225 Village Walk Dr #260
Henderson NV 89052
Phone: (702) 723-7604
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