|A Full Service Real Estate Company
Service & Integrity
Las Vegas Corporate Office:
7560 W Sahara Ave, Ste. 101
Las Vegas, NV 89117
(702) 228-0686 phone
(702) 228-0690 fax
California Corporate Office:
PO Box 60486
Bakersfield, CA 93386
(661) 633-3699 phone
(661) 215-5203 fax
Residential Real Estate...
|Welcomes you back to the real world!
|Residential real estate went on quite a ride
over the last few years. We are seeing that
trend move in a more familiar direction.
- Some who were once priced out of
- Some who were underwater find
themselves in equity positions...
- Even those forced into short sale or
...are once again, becoming homeowners!
The Russell Group understands homeowners and buyers are looking for solutions.
Real Estate is a labyrinth of choices, most of which requires the guidance of a
professional with solid knowledge base of the inner workings of all types of
transactions. The Russell Group maintains a proactive role in understanding the
frequent changes in guidelines and market trends affecting clients. Since no two
homes are alike when it comes to transferring ownership, it behooves you to have a
professional on your side, keeping you informed every step of the way so you may close
escrow with the confidence of knowing you made the right decision.
Are you interested in...
- Selling a home
- Buying a home
- Investment properties
- Distressed Properties
- New Homes
|Buying a home starts with more questions than answers.
Below are a few answers to help you.
WHY DO I HAVE TO GET PRE-APPROVED FOR A HOME?
A: You may qualify for $1million, but do you want to make that monthly payment? By sitting down with an
expert to review your budget for housing along with your long term financial goals, the loan officer can give you
an amount that fits. Now you can view homes with the confidence that you may live in your home and not for
HOW MUCH SHOULD I SET ASIDE TO PURCHASE MY HOME?
A: There are four main & separate considerations:
• Financing – Down payment & Appraisals
• Inspections –$200-$400 unless an issue is found and further inspections are needed
• Closing Costs - fees related to purchase beyond down payment (i.e. escrow fees, title insurance, etc.)
• After close of escrow – moving expenses and, of course, personalizing your home to you
DO I NEED AN AGENT TO PURCHASE A HOME?
A: Having a real estate agent offers…
• More convenient access to reliable information
• More access to homes that are available to you
• More negotiating power
• More knowledge regarding market, properties, laws & regulation
• More confidence in knowing your agent is held to a higher standard
• More experienced representation to keep the process moving along smoothly
• More experienced in knowing when a ‘red flag’ pops up
• More experienced in finding solutions that benefit you
WHO IS MY GO-TO PERSON WHEN BUYING A HOME USING FINANCING? MY AGENT OR MY LOAN
A: When you purchase a home with financing, you are purchasing two things: the home & the money to pay for
the home. Your real estate agent walks you everything that has to do with the home, and your loan officer walks
you through everything that has to do with money to pay for the home. Your agent and your lender will work in
tandem to support you in reaching your goals.
SHOULD I BUY A HOME WARRANTY?
A: Home warranty minimizes expenses that may come up when mechanical systems fail in the home. Older homes
can face a number of issues that may become expensive. When you have a warranty, you pay the deductible
(usually $55-$75) and the warranty pays for those items covered. We recommend you, at least, look into the
option so you can make an informed decision as to whether it is right for you.
SHOULD I GET AN INSPECTION?
A: Cannot say enough about the value of a home inspection. To have a professional review all systems and safety
issues in the property before you close escrow allows you to have a more complete understanding of what you
can expect to encounter once the home becomes yours. Occasionally, the current sellers are willing to remedy
some issues prior to closing escrow. But even if the seller does not agree to make repairs, you have the
opportunity to make an informed decision about what responsibilities you are willing to take on.
WHAT IS AN HOA?
A: HOA stands for Homeowners Association. Homeowner Associations manage CIC’s, or Common Interest
Communities. These organizations, usually established during initial development, are led by members of the Board
who are actual homeowners in the community. While the board leads the community, they usually hire a
management company to facilitate the administrative and enforcement duties outlined in the governing documents.
SHOULD I BUY A HOME IN AN HOA?
A: This is a personal choice. Some prefer the option so they know that a certain set of standards will be
maintained and regulated. On the other hand, some potential homeowners prefer the option of no HOA hoping for
more privacy and freedom from such groups and potential abuses of power.
WHAT IS A SHORT SALE?
A: A short sale is when a seller sells a property for and amount that is less than what that seller owes the bank.
The seller must submit paperwork to the bank and request an approval to proceed with sale and agreement from
bank to release lien before closing escrow.
WHAT SHOULD I KNOW ABOUT BUYING A SHORT SALE?
• Negotiations could take place up several times throughout the transaction.
• Length of time - may take 45 days - 24 months. The average short sale, though, is approximately 120 days.
• Financing - Time vs. interest rates & market values
• Is the home occupied or being maintained during escrow.
Short Sales are not for everyone. However, for some they are a great option. As with any real estate purchase, it
depends on your end goals.
WHAT IS AN REO?
A: REO is real estate owned property. Sounds confusing, but simply put, these are bank owned properties.
WHAT SHOULD I KNOW ABOUT BUYING AN REO?
A: Buying an REO isn’t much different than buying a traditional sale. You may see some things like:
• Some will accept offers up to a certain date before reviewing and deciding.
• Some will not pay things like home warranties, transfer taxes, HOA transfer fees, etc.
• Some will only review owner occupied buyers offer for a period of time before considering investor offers
• Some will offer concessions like home 2-year home warranties or special financing options
• Some are willing to repair certain items and usually do so with reputable vendors
• Some repair properties prior to placing home on the market
It all depends on what type of REO and who the banks are. Usually this information is offered up front and your
Realtor will be able to share this with you prior to placing your offer.
|Download PDF's with deeper explanations of information listed below.
Buyers - Know what you want
Compliments of First American Title Company
Compliments of First American Title Company
|Sellers - Prepare your home