Las Vegas, NV, November 23, 2018 --(PR.com
)-- The owner of Nevada Desert Realty, Anna and Michael Klinger, who helped with this Las Vegas real estate transaction love being able to negotiate on behalf of their clients to get the best deal possible. Even in purchasing a home in a high demand area and price range, Michael and Anna Klinger were able to negotiate the price down from the original listing price of $284,900 to the purchase price of $277,500. The sold price per square foot was $174.
The sold home in Mountain’s Edge featured upgraded custom made kitchen cabinets, granite countertops and stainless steel appliances, new carpet upstairs, and more. This home was move in ready. The home is a 2 story detached home with a 2 car attached garage, 2 and a half bathrooms, and 3 bedrooms. The home is measured at 1,597 square feet with a lot size of 3,920 square feet. The backyard features a patio and the home features desert landscaping.
This upgraded home in Mountain’s Edge was purchased with FHA financing. FHA stands for Federal Housing Administration which is the guarantee or backer for these kinds of mortgages. How FHA loans came into existence is that this branch of government responsible for housing found that conventional loans were hard for many people to qualify for. They found that many did not have the 5% or more required for a downpayment required for conventional loans. The government then decided to back, or guarantee FHA loans so that American Citizens only require a 3% down payment. The buyers for the upgraded home in Mountain’s Edge only had to make a down payment of 3.5% which was just under $10,000 for this real estate transaction. $3,000 of the funds were deposited at the beginning of escrow for the earnest money and an additional $7,000, or just below that figure, was deposited at the end of escrow as a downpayment.
FHA loans along with first time home buyer programs make purchasing a first home easier than many would think. With the way the real estate market was in the beginning of 2018, many millennials were disappointed in their home search and ended up signing another year lease or giving up moving out because it was so hard to purchase a home in Las Vegas because of the inventory being so low and the demand being so high. Even these clients of Nevada Desert Realty made multiple offers before receiving this accepted offer. Many expect this to be over or almost over as inventory in many if not all real estate markets is on the rise and demand has decreased. This will also most likely help future buyers who are trying to find a deal on their first home. However, it is harder to find deals on move-in ready homes that have been upgraded like the property in this transaction.
This home was purchased with the help of Anna and Michael Klinger, the owners and broker of Nevada Desert Realty. Nevada Desert Realty was opened in the beginning of 2015 so that Anna and Michael Klinger could better service their clients and help other real estate agents in Las Vegas do the same. Because they started their own brokerage, they were able to grow their property management business to almost 100 properties and keep helping their clients buy and sell homes in Las Vegas and Henderson. These locals love to camp, hike, climb, mountain bike, and visit local coffee shops in Henderson and Las Vegas. Their office address is 40 E Horizon Ridge Parkway #101, Henderson NV 89002 and their phone number is 702-509-1446.