Nevada homebuyers could save up to $440 monthly if the proposed Mortgage Relief Credit is approved by Congress. The plan includes tax credits totaling $10K over 2-yr for first-time homebuyers....
Real Estate
The Federal Reserve stated that it will not cut interest rates until it sees sustained slowing of inflation to its 2% target. The Fed's decision comes after reports of high inflation and economic growth. The central bank is now more cautious about its rate-cutting plans due to persistent inflation pressures and strong consumer spending. Continue to full article...
The median rent for a 1-bed in Las Vegas was $1,240 in March.It was unchanged MoM, but ↓ 3.9% yearly....
5. Winnemucca: - Median income ↑ > national avg - Home price 25% ↓ < median, 2-bed rent ↓ < avg 4. Lovelock: - Peaceful community, rich history - Rent 60% ↓ < national avg, home price 80% ↓ < avg...
Effective total state and local tax rate on median US household: 8.59% Annual state and local taxes on median US household: $6,494...
A report by Las Vegas REALTORS® shows rising home prices in Southern Nevada, with existing single-family homes and condos selling at higher prices compared to the previous year. The housing market is recovering from a slow 2023 due to low supply and high mortgage rates. Cash transactions and distressed sales remain at low levels. Continue to full article...
Median monthly rent: $1,499 Monthly income needed: $4,997...
Homeowners insurance rates in Nevada have been rising and are expected to stay high in 2024. Increases vary depending on location and home features, with high-risk areas experiencing dramatic increases, some by 1000%....
Home equity loans offer consistent monthly payments, lower interest rates, long repayment timelines, and tax deductions. Downsides include a significant equity requirement and the risk of losing your home. Alternatives include HELOCs, cash-out refinances, personal loans, and reverse mortgages. Fees associated with home equity loans include origination, appraisal, credit report, document, title, and...
Tips for first-time home buyers on getting pre-approved for a mortgage quickly: Talk to a loan officer for guidance, ask for referrals from friends, review your credit report for errors, gather necessary documentation, work with one mortgage professional to find the best option, consider interest rates, fees, and customer service when choosing a lender. Continue to full article...