VIEW MARKET CONDITIONS

VIEW MARKET CONDITIONS

For an up to date Mesquite Nevada market report and home evaluation of your home please go to; www.mesquite-realestate.com

National Summary (U.S.)
Pending Home Sales Rise in January to Highest Level in 18 Months

WASHINGTON (February 27, 2015) — Improved buyer demand at the beginning of 2015 pushed pending home sales in January to their highest level since August 2013, according to the National Association of REALTORS®. All major regions except for the Midwest saw gains in activity in January.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, climbed 1.7 percent to 104.2 in January from an upwardly revised 102.5 in December and is now 8.4 percent above January 2014 (96.1). This marks the fifth consecutive month of year-over-year gains with each month accelerating the previous month’s gain.

Lawrence Yun, NAR chief economist, says for the most part buyers in January were able to overcome tight supply to sign contracts at a pace that highlights the underlying demand that exists in today’s market. “Contract activity is convincingly up compared to a year ago despite comparable inventory levels,” he said. “The difference this year is the positive factors supporting stronger sales, such as slightly improving credit conditions, more jobs and slower price growth.”

Yun also points to more favorable conditions for traditional buyers entering the market. All-cash sales and sales to investors are both down from a year ago1, creating less competition and some relief for buyers who still face the challenge of limited homes available for sale.

“All indications point to modest sales gains as we head into the spring buying season,” says Yun. “However, the pace will greatly depend on how much upward pressure the impact of low inventory will have on home prices. Appreciation anywhere near double-digits isn’t healthy or sustainable in the current economic environment.”

The PHSI in the Northeast inched 0.1 percent to 84.9 in January, and is now 6.9 percent above a year ago. In the Midwest the index decreased 0.7 percent to 99.3 in January, but is 4.2 percent above January 2014.

Pending home sales experienced the largest increase in the South, up 3.2 percent to an index of 121.9 in January (highest since April 2010) and are 9.7 percent above last January. The index in the West rose 2.2 percent in January to 96.4 and is 11.4 percent above a year ago.

Total existing-homes sales in 2015 are forecast to be around 5.26 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase near 5 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Mortgage Rates

Mortgage Rates Fairly Steady to Begin Week

Mortgage rates were mostly flat again today, despite bond market weakness (lower bond prices generally mean higher rates).  Between MBS (the mortgage-backed-securities that underlie mortgage rate movement) and US Treasuries (the risk-free benchmark for all US debt/bonds), the latter fared worse.  In other words, mortgage bonds outperformed Treasuries.  That’s one of the reasons we didn’t see much movement in mortgage rates today.

The other reason was as simple as the shape of market movement on Friday.  Bonds improved throughout the course of the day but most lenders didn’t adjust rate sheets to reflect that improvement.  As such, today’s weaker bond market levels ended up being fairly close to those that were in effect when lenders last set rates on Friday morning.

The absence of change continues to be a good thing given that rates remain very close to their lowest levels in more than 8 months.  Only a handful of recent days have been any better.  4.0% is the most prevalently-quoted conventional 30yr fixed rate on top tier scenarios, though a few of the aggressive lenders remain at 3.875%.

Today’s Most Prevalent Rates

  • 30YR FIXED – 3.875-4.00
  • FHA/VA – 3.5-3.75%
  • 15 YEAR FIXED – 3.125-3.25%
  • 5 YEAR ARMS –  2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • Investors were relatively convinced that the decades-long trend toward lower rates had been permanently reversed after Trump became president, but such a conclusion would require YEARS to truly confirm
  • Instead of continuing higher in 2017, rates instead formed a narrow, sideways range, and held inside until April.  Investor perceptions are shifting such that fiscal reforms and other policy developments will need to live up to expectations in order to push rates higher.  Geopolitical risks would also need to avoid flaring up (more than they already have)
  • For the first time since the election, we’re in a rate environment where you wouldn’t be crazy not to lock at every little opportunity/improvement.  Until/unless it’s broken, the highest rates of early-2017 mark the ceiling, and we’re now waiting to see how much lower we can go from here.
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are “effective rates” that take day-to-day changes in upfront costs into consideration.

 

BY: MATTHEW GRAHAM

Increase Your Home’s Value

Three Simple Ways to Increase Your Home’s Value

Three Simple Ways to Increase Your Home's Value

We all want to make sure that our home not only holds its value, but increases it as well. That way if needs were to change or a move were in order, the home could be sold for a profit, making the move that much easier. Here are a few very simple, quick, ways to make sure that this happens.

Get Handy

Homeowners often get into a lull with maintaining and fixing broken or worn items in their houses. One thing leads to another, which eventually leads to repairs costing thousands of dollars. Instead of waiting, take action the moment you realize something is wearing out and fix it or call a handyman — it will save you money in the future and help maintain the value of your home.

Cleanliness

There is an obvious correlation between the value of homes that are kept up with (at least) a weekly cleaning and those that don’t. Not only will your home look nice and be clean for company, it will stay in good condition longer and avoid having bugs and rodents inside the garage, home, and attic. Homes that have actively used a pest control service can be sold for more than those that didn’t. Make it easier on yourself by committing to a good cleaning on a weekly basis, scheduled in at the same time each week so that a habit will be formed.

Think Outside the Box

The inside of your home may be the top priority for you, but don’t forget to do basic maintenance on your lawn and surrounding areas. Remember, this is the first thing that potential buyers and renters see when they pull up. In fact, the looks matter so much that a recent study said that simply raking, aerating, mowing, and maintaining a basic lawn yields over a 300% ROI when it comes to selling!

Best place to retire; wwwmesquite-realestate.com

Sun City Mesquite Information

Sun City Mesquite Information.  

 

This amazing community is built by Pulte in Mesquite, Nevada. This master plan is approximately 2,014 acres in size. Sun City Mesquite is being built within this master plan on 812 acres. Also included will be 167 acres of conventional housing without age qualification. An 18 hole Gary Panks designed golf course is a central feature. Upon completion, this community is projected to have 4,600 homes, including 3,600 homes in Sun City Mesquite. The grand opening for the public was June 16th, 2007.  Amenities include an 18-hole putting course, tennis, pickle ball and bocce courts, 30,000 SF clubhouse has billiards room, state-of-the-art gym, aerobics studio, indoor pool & spa, indoor walking track, clubs, classes, and over 100 activities. Conestoga Golf Club provides a scenic backdrop to the outdoor pool & two spas. Sun City residents receive discounts on meals at Conestoga Golf Club’s 1880 Grill.

Below is a link of all the currently listed properties in Sun City Mesquite. This information is updated every 24 hours.

 When this project opened what it offered had two potential advantages over similar developments in other areas, price and the ability to have a Pulte/Del Webb community only in more of a small town environment.  The small town advantage is still there for those that prefer it. The price advantage is lower then similar homes in the Las Vegas area. One additional advantage now is that Sun City Mesquite is now the only age restricted community in the area selling new homes that offers comparable home sizes and options that are on the scale of the larger age restricted communities in other Del Webb developments. I drove the community with my GPS and found that the elevations of the current construction at this community range from 1,750 ft. to 1,850 ft. above sea level.

Note that several new floor plans have been added with also several discontinued. The new floor plans are a drastic departure from what Pulte/Dell Webb has offered in the past. Significant structural options have not been a part of the Pulte/Del Webb philosophy. Now there are an incredible number of customizations available.

Current selling prices for both new and resale, over the last year run between $125 and $190 per sq. ft. That starts somewhat lower than the median selling prices per sq. ft. for the Sun City communities in the greater Las Vegas area.

Sun City Mesquite has 22 single story home designs ranging from 1,241 to 3,115 sq. ft. Base prices range for the current models, at the time of this writing, May 7, 2017 are between $185,990 and $332,990. The sizes of these current models range from 1,241 to 2,514 sq. ft. I know this development well and have represented many buyers here. It is a beautiful community with great mountain views and wonderful topography. Many lots will be at elevation, looking down into the community as well as out into the valley Contact me at the email or phone number below with any questions you may have.

Sun City Mesquite Photos

Click on thumbnail picture to view larger image.

  • search Sun City homes for sale
  • Sun City Mesquite models
  • Sun City Mesquite homes
  • Sun City Mesquite real estate

This is a newer and very interesting option to other age restricted communities, Del Webb and otherwise, presently available in the Clark County, Nevada area. It may also appeal to prospective buyers that may otherwise pick another location in the southwest. The travel distance from this community to the strip/airport area in Las Vegas to be around hour & 15 Minutes.  Mesquite is also around 30 minutes from St George Utah, a larger and more developed community with shopping and other services that Mesquite lacks at this time. Mesquite itself is a nice clean city with mostly newer construction. In the mid 1980’s Mesquite was a relatively quiet farming community with a few businesses catering to the travelers along I-15. The population at that time was around 800 people. The population has increased to over 19,000 with most of that increase coming within the last 15 years. The weather in Mesquite is similar to Las Vegas with summer and winter high temperatures about the same. Night time lows are somewhat cooler.

There is quite a bit of development in the area of Anthem, Mesquite (master plan being called Anthem). A new hospital is within a mile of the community.

If you have any questions about these projects let me know. I will update these pages when additional information becomes available. I can also put you on my mailing list to receive updated information per your request. I hope you have enjoyed this information and will remember me if you would like Realtor representation to purchase and/or sell a home. Thank you.

Please note that I am an independent Realtor that can represent you in your purchase at Sun City Mesquite, at no cost to you. I do not represent the builder or are otherwise affiliated with the builder, Del Webb Pulte.

You can view all the new models and resale homes at Search Sun City Mesquite.

Mesquite Real Estate

Not Your Father’s Retirement: Three Ideas That Are Reinvigorating The Next Stage

Not Your Father’s Retirement: Three Ideas That Are Reinvigorating The Next Stage

Not Your Father's Retirement: Three Ideas That Are Reinvigorating The Next Stage

That anemic, antiseptic-smelling place where you used to visit Grandpa in his final years? That’s a thing of the past. Same for the idea of the typical “retirement community,” which was reimagined as the more evocative “active adult” many years ago, thanks to masterplanned developers like Del Webb and its Sun City brand. And now it’s going through another reincarnation, away from the typical and toward a more tailored, more exciting, more personally rewarding, and sometimes more exotic experience. One thing is for sure. This isn’t your father’s retirement.

Wastin’ away…

Excuse the ironic lyrical intro, but there’s just something about the idea of Jimmy Buffet, singer of “Margaritaville” and purveyor of perhaps the ultimate in relaxed, retirement-age “livin’ it up,” putting his name on a retirement community. Which is what makes Latitude Margaritaville so enticing to a new group of retirees looking for more than water aerobics.

“If there’s one person in the world who knows how to kick back and relax, it’s Mr. Margaritaville himself,” said House Beautiful. “Maybe that’s why Jimmy Buffett partnered with Minto Communities to create a community for people 55-and-older in Daytona Beach, which promises to reflect the lifestyle embraced in Buffett’s songs.”

The community is planned to have 6,900 homes designed in Old Florida and Key West architectural styles, priced from the low $200,000s, and located within – not surprisingly – a “total tropical vibe. Of course there’s a pool with cabanas instead of a park or statue like most town squares,” they said. “Music, food and beverages will be big part of the community, along with relaxation thanks to an onsite fitness center, indoor lap pool and spa and the outdoor resort-style pool.” And, you can expect Jimmy himself to show up for concerts.

Homes are expected to be finished in 2018, at which time a second location of the singer’s retirement communities, Latitude Margaritaville Hilton Head in South Carolina, will also be underway. This newly announced location will include more than 3,000 homes in a classic coastal architectural style from the low $200,000s, with amenities including “a private, resident only Town Center, resort-style pool, fitness center, social hall, game and hobby rooms, arts and learning programs, indoor and outdoor dining with signature food and beverage concepts, pickleball, tennis courts and more,” said Forbes. So how is the idea connecting with retirees? “There were over 10,000 registrants in the first two weeks of offers for the Daytona community and there are more than 70,000 at this point,” said Forbes.

Coloring outside the lines

If an endless vacation vibe isn’t your thing, perhaps being part of an artist’s colony is. That’s the idea behind the NoHo Senior Arts Colony, a new community of one- and two-bedroom luxury apartments for those 62 and up that offers a “new way to enjoy your next chapter,” they said. In the middle of the vibrant NOHO Arts District in Los Angeles, this retirement option offers “more than just the typical pool and fitness center, with “unique features including a visual arts studio, digital arts room, stadium-style performing arts theater — The Road Theatre Company’s second home — and complimentary arts and wellness programs offered by EngAGE®.”

Senior Living notes that the “posh” NoHo Senior Arts Colony is “mostly Hollywood writers and actors, and anyone into the artsy business” and that the theater is “open to be used by retirement community residents whenever there are no shows scheduled.”

Tiny Homes

One of the fastest-growing retirement trends today is tiny home living. This gives retirees the freedom of their own space in a smaller footprint with less maintenance and the camaraderie of others in a village environment, if they so choose, or privacy if they wish to be located on their own piece of land. Depending on zoning, tiny homes can be placed in an existing back yard – a choice many retirees are making so they can have their own space while being close to family.

“The benefits of tiny homes are obvious,” says George Chmael, the CEO of Council Fire, an Annapolis, Maryland-based consultancy that advises nonprofits, corporations, governments and communities on sustainable building practices, on AARP. “There’s reduced maintenance, a reduced financial burden and added movability and mobility for a change of circumstances.” For seniors, that means: less home maintenance work, lower expenses, and “the flexibility to adapt to whatever the future brings.”

The popularity of this retirement option has given way to a new term: the “granny pod.” The self-contained, 12-foot x 24-foot units, like those being sold as MedCottage, are being promoted as a potential option not just for retirees looking for an inexpensive option that allows them to be within arm’s reach of loved ones, but also as “the solution to nursing homes,” said David Wolfe. “These ‘Granny Pods’ are specially built with the safety of a senior in mind. They include a small kitchen, bedroom, and bathroom all designed to safely house a senior. The bathrooms are handicap accessible with railing and safety features built in.”

Additional safety features include webcams so family and caretakers can monitor them, padded floors to protect against falls, and high-tech “robotic features that can monitor vital signs. In addition, they can filter the air for contaminants while sending alerts reminding when to take supplements, superfoods, and superherbs.”

 

WRITTEN BY JAYMI NACIRIPOSTED

Downpayment Assistance Programs that Work with USDA

Nevada Home News

May 2017

To Avoid Contract Disputes, Itemize Items That Convey

To Avoid Contract Disputes, Itemize Items That Convey

To Avoid Contract Disputes, Itemize Items That Convey

Question. We have signed a contract to buy a house. When we first saw it, before signing the agreement, there were two refrigerators. One was in the kitchen and one was in the basement. The real estate agent told us that both refrigerators would stay with the property. Settlement is scheduled for next week, and we have now been told that the basement refrigerator has been removed. Our mortgage lender, however, insists on our signing a statement that the refrigerator remains as part of the house, and as part of the lender’s security.

I do not understand when a refrigerator is a fixture and when it is not.

Answer: Your question has stumped a lot of people, including several law professors to whom this question was posed.

There is no easy answer as to what is a fixture. An item, standing by itself, may not be a fixture, but when made part of the property, it can change its characteristics. For example, a kitchen sink in a plumber’s shop window is personal property. Once it has been installed in your house, however, it becomes a fixture and is part of the real estate.

Generally speaking, and in the absence of a contractual agreement to the contrary, fixtures remain with the house. Personal items can be removed by the seller.

As you can see, it certainly makes a difference if an item is characterized “personal property” or “fixtures.” For example, can a seller take a removable wet bar from the basement, even though the plumbing is hooked up? Does a window air conditioning unit convey with the property?

There are no easy answers to any of these questions. The courts have applied a number of tests, including:

  • The manner in which the article is attached to the real estate. If the article can be removed without substantial injury to the building, it is generally held to be personal property.
  • The character of the article and its adaptation to the real estate. If, for example, an article was fitted or constructed specially for a particular location or use in a house, one can argue the article becomes a permanent part of the building, and thus a fixture.For example, the courts have held these items to be fixtures: pews in a church, screens and storm windows specially fitted to a house and electronic computing equipment installed on a floor specially constructed for it.
  • The intention of the parties. What would the average person consider the article to be? Gas stoves, for example, are intended to remain in a house permanently, and thus are fixtures. The so-called “Murphy beds” fastened to the wall on pivots are considered fixtures. But roll-away beds that are not fastened to the wall are not fixtures (except in Wisconsin).Going through this fascinating history of fixtures, one important caveat comes to mind.When in doubt, spell it out in the contract. Furthermore, if the seller or the real estate agent verbally advise you that a particular item will convey, again spell it out in the real estate contract. If you want the refrigerator to convey with the property, put it in the contract to avoid any confrontation in the future.

    Too many homebuyers are often disappointed because they relied on what the agent or the seller said — or what they thought the agent said — and just did not reduce those representations to writing into the sales contract.

    In your case, I would argue that the second refrigerator stays with the property. This is based not necessarily on the fact that it is a fixture, but on the promises made by the seller’s agent — and on which you relied.

    Custom in the area is also important. I understand that in the Western part of the country, refrigerators do not necessarily convey; however, they do in the Eastern states. But don’t rely on custom. If you are the seller and want to take a particular item with you, spell it out in writing in the sales contract. And if you are the buyer and want a particular item to stay in the house, spell it out in writing in the sales contract.

 

 

WRITTEN BY

%d bloggers like this: