August 11th, 2017
Hello Buyers and Sellers:
How are you? I trust all is well for you and yours. Are you getting ready to move? Whether it is now or later I can help you understand the selling market. I have so much experience in this Las Vegas, Summerlin, Henderson, Southwest, Northwest and North Las Vegas. I have been working with buyers and sellers for over 18 years full-time. I have the most amazing clients, they will tell you how their experience was with me if you’re interested in speaking with them. We have fun, it’s a Professioanl experience, you’ll enjoy how the selling or buying experience goes for you.
In other words: I know what I’m doing. I work with all buyers and sellers, NOD, short sales, traditional sales.
Buyers purchasing with FHA, FHA HUD 184, Cash, Conventional. VA. I love working with all buyers.
Call me, Penny O’Brien with RE/MAX Excellence. 702.321.9383
August 8th, 2017
Yes, it’s true many courses are going to be closing if they already haven’t. As Las Vegas continues to grow in population our water supply is being pushed to the limit. If you ever fly over Lake Meade you will see the drop of water level on the shore lines against the mountains. It’s been taking place for a long time and people continue to say, Oh, it’s Las Vegas we will find a solution to our water shortage.
If you look around some of the areas of the Valley for instance the Lakes. The Lakes have manmade lakes. Several, they are tranquil and beautiful. I actually have several clients who bought in the Lakes for the purpose of having the Lakes to enjoy. You can’t fish at these lakes. They are there for cosmetic reasons. There are often many ducks who have made their homes in and around the lakes.
Desert Shores also has a few manmade Lakes. I do foresee in the future that these Lakes will not be around. With the rising prices of water and the water conservation program taking place. It just doesn’t make sense that homeowners associations will want to continue increasing their HOA fees in order to keep or maintain these water features.
Are you looking to buy? Sell? Call NOW, Penny O’Brien 702.321.9383
August 2nd, 2017
The HUD 184 was established in 1992, the Section 184 loan provided by HUD, the Department of Housing and Urban Development, has helped thousands and continues helping Native Americans get home loans both on and off reservations.
HUD 184 loan, what is required for both home and borrower eligibility:
There is no maximum income limits
Gifts of money funded by family or the tribe for assistance are allowed
Home buyer education is not required
Needs to be an owner occupied primary residence
5% one time, up-front guarantee fee that is financed into the loan
Down payment requirement of 2.25%
Want more info? Do you Have more questions about this wonderful program? I can help you out and would really love the opportunity to work with you.
Enjoy your day/evening, Penny O’Brien 702.321.9383
August 2nd, 2017
That’s the first thing I hear when I engage in a conversation about prices of Real Estate here in Las Vegas, Henderson, Summerlin, SW, NW the entire Valley. You mean to tell me I can buy what I want for under $300k?
Las Vegas home prices are rising as I am submitting this blog. It’s just the honest truth. Current homeowners are so happy prices are going up, buyers not so much.
There are thousands of new homes being built here, while Re-sale homes are sparse. There just isn’t enough homes for all the buyers.
With NV not having State Taxes people can actually afford more for a home. I know when I lived in Iowa I paid a lot in State Taxes and Property taxes.
Las Vegas has a very low property tax charge.
Call me NOW so we can go over all your Real Estate needs. Enjoy your day/evening. Penny O’Brien 702.321.9383
August 2nd, 2017
What does the American dream of owning a home mean to you? Here in Vegas, the Sin City Capital of the World. The fun adult playground. The city with so much to offer. The City who has fantastic sunshine throughout the year.
Many first-time home buyers are afraid to purchase. The truth is in most cases it’s better to buy then rent, and in most cases it’s cheaper. Plus, you don’t have a landlord and others to deal with, IT’S YOURS!!!
A majority of my clients are first timers. I call them my Real estate virgins. I absolutely love working with them. If you are interested in buying a place, please give me a call and I can help you understand the ins and outs of buying. I will become your Realtor for life.
Make it a great day! Penny O’Brien 702.321.9383
August 1st, 2017
Here is a new home for sale in Cadence? Let’s talk about your housing needs:
2151 square foot 2+ den/office single story in Heritage at Cadence! 12 million dollar clubhouse, guard gated Active Adult Master Planned Community in Henderson, close to everything! HOA’s only $137 per month…..this has to close in August!! Normally priced at $387,853…….August COE $364,582!!! LET’S TALK!!!
Penny O’Brien with RE/MAX Excellence 702.321.9383
August 1st, 2017
Who is Eligible for a Section 184 Loan? 6 American Indians or Alaska Natives who are members of a federally recognized tribe 6 An Indian tribe 6 A Tribally Designated Housing Entity (TDHE) 6 An Indian Housing Authority (IHA). Do you want to know more, call me, Penny O’Brien @ 702.321.9383. I’ve been helping buyers use this wonderful program for years. I know how to help. Enjoy your day. Penny
August 1st, 2017
Let’s talk about lending:
The best way to explain what a conventional loan means is that a home buyer’s mortgage is not backed or insured by a government agency such as the Federal Housing Administration (FHA) or Veterans Administration (VA). Buyers can use a conventional mortgage to purchase a one- to four-unit home, a condominium, modular or manufactured home as a primary, secondary or investment property.
A loan that conforms to conditions and terms of the government-sponsored enterprises Fannie Mae and Freddie Mac is called a “conventional loan.” The down payment of a conventional purchase loan is generally higher than that of a government-insured loan, such as an FHA loan, which is 3.5%. Conventional borrowers generally must pay between 5% to 20% percent of a home’s purchase price for a down payment. On a refinance a conventional loan can go up to the Loan to Value (LTV) of 95% with the addition of PMI or LPMI factors.
On a conventional loan the lender will consider a buyer’s debt-to-income ratio, which he/she determines by calculating the projected housing costs and actual recurring monthly expenses. A buyer/buyer’s home expenses. Which include the monthly loan payment applied toward principal and interest, property taxes, mortgage and homeowners insurance as well as total of all monthly expenses, including housing, must not exceed 43% of the buyer’s income. Do you fit that criteria?
A FICO credit score of 640 and higher increases a borrower’s rate of approval and may reduce the loan’s interest rate. FICO is an abbreviation for the Fair Isaac Corporation, the first company to offer a credit-risk model with a score. The story would be more interesting if “Fair Isaac” refers to some wise, above board person. Here’s the deal: Bill Fair and Earl Isaac are the founders.
Borrowers who have filed a Chapter 7 bankruptcy case can apply for a conventional mortgage after four years from discharge date, and those who have filed a Chapter 13 may apply two years after the re-establishment of an active credit profile.
The current market and the borrower’s FICO credit score influence the interest rate he’ll receive on a conventional loan. Conventional loan programs at a fixed rate, where the interest rate stays consistently the same throughout the term of the loan, or as an ARM, an adjustable-rate mortgage, where interest rates initiate at a below-market rate and change on a designated schedule, which ranges from monthly to annually or longer.
Conforming conventional loans: have a maximum loan limit set by Fannie Mae at the county level.
In the case of non-conforming loans, banks ususally set the limit at 80 to 90 percent of the home’s appraised value.
Call Penny O’Brien @ 702.321.9383
August 1st, 2017
what a reverse mortgage?
Let Your Home Take Care of You with a Reverse Mortgage: Home Equity Conversion Mortgage
Reverse mortgages were created specifically for senior home owners 62 plus, allowing them to make the most of the equity they have acquired in their homes.
With a reverse mortgage, you borrow against the equity you have built up in your home and do not need to repay the loan for as long as you live in the home as your primary residence, maintain your home in good condition, and pay property taxes and insurance. You can live in your home and continue enjoying making no monthly principal and interest mortgage payments.
Depending on your financial situation, a reverse mortgage has the ability to help you stay in your home and still meet your financial obligations. HOW does that sound? Would you like to know more?
Of course, reverse mortgages may not be right for everyone. If you’d like to know more, Call Me NOW, Penny O’Brien 702.321.9383
A little about me, I moved from Iowa to Vegas in 1998. take care yourself.
August 1st, 2017
Call me right now if you have questions about this wonderful Indian Home Loan Section 184 HUD program. Here is a small map for you. I have helped MANY happy BUYERS with this program. Contact me @ 702.321.9383. I have helped buyers move to Las Vegas from NM, Alaska and many other parts of the United States. I look forward to hearing from you. Penny
HUD 184 MAP
Las Vegas | Henderson | Summerlin Realtor/Real Estate Agent
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