Posts Tagged ‘penny O’Brien’
Wednesday, 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
Tuesday, 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
Monday, July 31st, 2017
I trust all is well for you and yours. Have you heard the news about a new Summerlin Village opening up? Oh my goodness. I’ve been living in Summerlin for over 19 years and I have to say this is one of my favorite Villages. It’s tucked up in the mountains. The views are amazing. The club house area will be Guard Gated. There’s going to be the standard big park areas like Summerlin Provides so well. Lush green trees and beautiful landscaping. There are so many wonderful things to mention about this Reverence Village. I LOVE IT and I think you will too. Call me anytime for more information or even better, let’s go shopping. Penny O’Brien @ 702.321.9383 Your, Sunny Las Vegas Realtor with over 19 years of REAL ESTATE experience. Thank you for your time, Penny
rev·er·ence: deep respect for someone or something.
Wednesday, June 21st, 2017
I am originally from Iowa, after spending 37 years there, I decided to move to Las Vegas.
HUD 184 Loan Program. It’s an amazing Government program that allows a low interest rate and many other wonderful aspects for soon to be homeowners or homeowners who are looking to remodel. Please give me a buzz so we can discuss more about the 184 Loan Program. Have fun and enjoy your life,
Penny O’Brien 702.321.9383
Tuesday, April 4th, 2017
Call Penny at 702.321.9383. Summerlin condo for sale in Las Vegas
Tuesday, March 28th, 2017
1. Square footage= SF
Like the story of Goldilocks and the 3 bears: Too small and you might quickly outgrow your new space. Too big can mean unnecessary energy bills and money spent furnishing space you never use. Too much space to clean in my opinion.
2. Drive time
Be sure your daily commute won’t leave you sitting in traffic, rethinking your relationship with your house. Consider driving to work from your potential home a couple times during rush hour to make sure you know what you’re getting into.
3. Walking distance
Being able to walk, bike or hike to shops, restaurants, parks and public transportation can really boost your quality of life.
Does the neighborhood include features that you feel are critical to your particular lifestyle, like yoga studios, late night takeout options or a safe playground for your kids and or your pets?
5. Planes, trains and automobiles
If you travel frequently, be sure you love how close your potential new home is to the airport, main highways or public transportation. Not a fan of planes flying overhead – or late night trains? Keep that in mind when checking out areas as well. We have a disclosure for that. 😉
Enjoy your day or evening, Please give me a call with any Real Estate questions you may have. I am here to help. Penny O’Brien 702.321.9383 GOWITHPENNY@yahoo.com
Saturday, March 25th, 2017
Here is just a little information about what Section HUD 184 requires and offers:
You must be an enrolled member of a federalized recognized Tribe.
Down payments: estimated 1.25% to 2.25%
Regular 30 year fixed rates are available.
Yes, to New construction and renovation.
Low monthly Mortgage insurance.
Modular Homes allowed.
Gifts and Tribal assistance are ok.
No hidden terms or fees.
For more information Call Penny 702.321.9383 GowithPenny@yahoo.com
Monday, March 20th, 2017
So, You’ve probably heard all about Real Estate from friends, family, co-workers the Internet or other places that the public has provided information about Real Estate. Let’s talk about Real Estate and here are 10 tips from Penny O’Brien:
- Ask me questions related to Real Estate and Other related vendors.
- Listen to what I have to share about Real Estate.
- Listen and Learn, we are going to have a great experience.
- Let’s Debate about what you’ve heard.
- Realize you are here to learn, ask me questions.
- Maybe you’ve heard things about Real Estate that are not true.
- I am interested in what you do and what you need.
- Let’s take action to help you with your Real Estate Needs.
- Share your weaknesses, there is no such thing as a silly question.
- You help me understand what is most important to you in finding you the right home.
Make it a great day and call me: Penny O’Brien with RE/MAX Excellence 702.321.9383 GOWITHPENNY@yahoo.com
Friday, March 17th, 2017
Hi there everyone,
Happy St. Paddy’s Day
The Planter’s Daughter
When night stirred at sea
And the fire brought a crowd in,
They say that her beauty
Was music in mouth
And few in the candlelight
Thought her too proud,
For the house of the planter
Is known by the trees.
Men that had seen her
Drank deep and were silent,
The women were speaking
Wherever she went –
As a bell that is rung
Or a wonder told shyly,
And O she was the Sunday
In every week.
Penny O’Brien 702.321.9383 GOWITHPENNY@yahoo.com
Wednesday, March 15th, 2017
According to a very reliable source the MEDIAN HOME PRICE $333,705 GROWTH of 7.1%
AVERAGE PRICE PER SQUARE FOOT $152.396 Up 6.2%
NO. OF CLOSINGS – Month 497 24.8 % NO. OF CLOSINGS – Last 12 Months 8,04415.2%
NEW HOME PERMITS – Up and Up 21.8%
ACTIVE SUBDIVISIONS 238 Up 8.7
AVERAGE SALES PER SUBDIVISION: Up 18.2%
There are so many new home subdivisions going on thru-out the whole Las Vegas Valley, Henderson and North Las Vegas.
Would you like more information? Give me a call, text or send me an Email; 702.321.9383 GOWITHPENNY@yahoo.com
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