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The Reality of Real Estate: Resolutions That Will Help First-Time Homebuyers Purchase a Home in the New Year

With the new year almost here, now is the perfect time to start setting goals and creating plans for how to achieve those goals. 2021 could be your year to become a homeowner, and we have some resolutions that will help first-time homebuyers purchase a home in the new year.

Set a monthly savings goal and a down payment goal

Start off by looking at what you already have saved and how much money you would like to have that goes towards a down payment for your home. Then begin to look at your expenses each month, current wages, and calculate how much you can reasonably save each month to meet your goal. This can also help you see if you may need to find a side hustle or cut expenses to help you increase the savings you’re setting aside each month to meet your goal.

Avoid big purchases

Every penny you have should go towards paying for the things you need and saving for purchasing a home. Even if you’ve met your down payment goal, you’ll want to have money set aside to cover closing costs, home inspection fees, moving costs, home repair projects, HOA fees, home insurance costs, etc. The latest iPhone will still be there when you’re a homeowner. Sacrificing a big purchase now will pay off in the long run!

Begin reaching out and making connections with real estate professionals

You want to build relationships with people who can help you achieve your goal of purchasing a home. Create a list of potential real estate professionals you’d like to work with and interviewing them to see which one will be a good fit for you.

Begin meeting with lenders to talk about what kind of loan you qualify for

Meeting with lenders is a very important part of the homebuying process. You need to know how much house you can afford to buy as well as the interest rate to pay back the loan. If the interest rate is too high, it may have something to do with your debt-to-income ratio, and your lender may be able to give you advice on how to pay down your debt while saving for a home to score you a better deal on your mortgage!

Get your credit score checked and contest anything that’s wrong

Your credit score can also have an impact on the mortgage rates you’re offered, so be sure to get a detailed report and contest anything that is wrong or fraudulent to have it removed from your credit history.

2021 is your year to become a homeowner, but you’ll have to work hard to stick to your resolutions to make it happen. If you need more tips on how to become a homeowner in the new year, contact the David Morris Group at 775-828-3292!

Christmas Traditions That Will Have You Feeling Merry and Bright

December 9, 2020/in Lifestyle /by Shauna Morris

2020 has taken us all on a roller coaster of emotions, and with the holiday season upon us, we’re all looking for ways to spread cheer and good tidings. Don’t worry, there are some great Christmas traditions that will have you feeling merry and bright in no time!

Make Homemade Hot Cocoa

If you’ve been on social media recently, it’s likely that you’ve seen videos of everyone making hot cocoa bombs that release a ton of chocolaty goodness when they are submerged in warm milk. Why not make your own recipe full of all your favorite goodies. Check out this video as a great reference on how to make your own hot cocoa bombs.

Listen to a Christmas Tale

Gather the family to bake cookies or work on a holiday craft together while listening to something a little more entertaining than the usual Christmas tunes. Put on the audio version of A Christmas Carol or create a playlist of Christmas themed stories being read aloud on YouTube. They have a great selection, and you can even find How the Grinch Stole Christmas being read by Keith Morrison.

Buy Matching Pajamas or Make Matching Christmas Sweaters

A great way to stay connected with your loved ones who can’t be with you this year is to put on a matching outfit and hop on a video call with one another. There are all kinds of matching pajama sets being sold in stores, but you can also buy a plain sweater and decorate it in matching styles for a unique spin on the holiday tradition.

Secret Santa, Anyone?

If you are trying to save a little money this year and don’t want to buy a present for everyone on your list, suggest a Secret Santa gift exchange with a spending limit of $20. It will easily cut down the number of people to buy for and comes with a fun guessing game at the end.

Search for the Best Christmas Decorations in the City

Holiday lights are going up around town, and one of the best ways to get into the spirit of the season is to go and look at all of the decorations. Take your family and drive around some of the streets in the area and pick out the houses with the best Christmas decorations!

There are all kinds of Christmas traditions that will have you feeling merry and bright this year. We hope your holidays are happy and full of cheer. If you have any other holiday tradition recommendations or you’re simply curious about the Reno real estate market, contact the David Morris Group. Give us a call at (775) 828-3292.

The Benefits of Selling Your Home in the Winter

December 3, 2020/in Reno Neighborhoods, Reno-Sparks Real Estate /by Shauna Morris

The spring and summer have been referred to as a hot buying season, which means that many people will wait until March to begin the process of selling their home. If you’re considering selling your home, and you think now isn’t the right time, we can assure you that there are great benefits to selling your home in the winter compared to the other seasons.

Less Inventory

With fewer homes on the market, there’s less competition for you and more competition for buyers. The buyer competition can lead to some great things for you, like quick closings, offers above asking price, and all-cash offers!

Motivated Buyers

The buyers that are actively searching for homes in the winter months are serious buyers and more likely to go through with the transaction, lowering your risk of having people back out of the deal at the last minute.

Improved Curb Appeal

The winter months call for holiday decorations, festive lights, and even a light dusting of snow. Getting to see the home and the neighborhood decked out for the holidays puts buyers in a better mindset and allows them to visualize themselves spending the holidays in the home and the area with their loved ones.

Relocators are Moving

As the end of the year nears, many people take it as a time to begin making changes and a fresh start. People may be looking to start the new year in a new location and in a new job. With a lower cost of living, tax breaks, and a higher quality of life, Reno is where many people from neighboring large cities are setting their sights, especially in the work-from-home era we’re experiencing.

Home Improvement Season is Slow

Winter is generally the slow season for contractors and inspectors, making it the perfect time to begin tackling home improvement projects you’d like to do before selling or your buyers would like to do before they move in.

Don’t overlook the winter real estate market. If you have any questions about selling your home or about the current market, contact the David Morris Group. Give us a call at (775) 828-3292.

The Reality of Real Estate: Question Everything – Important Questions to Ask Throughout the Homebuying Process

November 25, 2020/in Reality of Real Estate, Reno-Sparks Real Estate /by Shauna Morris

If there’s one piece of advice we could give everyone, it’s to be inquisitive and question everything. That advice is especially important in the real estate world. As a home buyer, you’re making one of the most important and biggest financial decisions of your life, and you don’t want to go through the process confused or unaware of what you’re getting yourself into. Below are some important questions to ask throughout the homebuying process.

Questions to Ask Your REALTOR® About the Community:

How good is the school district? How do the schools in this neighborhood stack up against other schools in the area?
How close are the nearest hospitals, grocery stores, businesses, etc.?
Is there anything that would be considered a nuisance going on regularly in the area — construction, trains, planes flying overhead, etc.?
Is there an HOA, and if so, what are there regulations, dues, etc.?
How does the resale value of homes in the area do year over year?

Questions to Ask the Home Inspector:

Is there insulation in the walls and ceiling, and is it sufficient for the home?
Are there any foundation or structural issues?
Is there anything in your report that you think I should have an expert inspect or repair?
Was everything you saw normal wear and tear, or are there problems with the home?
If you were in my shoes, would you feel like you were making a good investment in buying this home, or are there areas for concern?

Questions to Ask Your Lender:

Do you know of any mortgage programs that I qualify for and could lower my costs?
Will a higher down payment improve the interest rate you can offer?
What do my projected monthly mortgage, property taxes, and homeowners insurance costs look like?
How much should I expect closing costs to be?

There are no dumb questions, and it’s important to have everything laid out on the table when you’re buying a home. These are some important questions to ask throughout the homebuying process, but if you have more questions about buying or selling your home, contact the David Morris Group at 775-828-3292!

What You Can Expect From the Beautiful Caughlin Ranch Community

November 23, 2020/in Reno Neighborhoods /by Shauna Morris

Just south of the Truckee River lies a beautifully master-planned community that borders the Toiyabe National Forest. With a fun history in the community and the original Caughlin farmhouse still standing on Mayberry Drive, Caughlin Ranch continues to draw in residents of the Reno area.

Natural Resources

Caughlin Ranch is known for working hard to save natural resources and putting them to great use for the community. As you drive through the neighborhood you’ll find ponds that collect water, a Cottonwood tree that was saved during the development of the community, 1,200 acres of open land, and over 20 miles of trails.

Homes

No matter which type of home you’re drawn to or what your budget is, Caughlin Ranch has something for you. You’ll find condos, newer construction homes, and there are even a few custom home lots available for anyone looking to build their dream home on a great piece of land. You’ll also find one of the premier gated luxury neighborhoods in Northern Nevada right here in Caughlin Ranch.

Amenities

Located in the heart of Caughlin Ranch is the Caughlin Club which offers fitness classes, tennis courts, a year-round pool, gym, boxing studio, dance classes, massages, and more. Caughlin Ranch’s superb location also puts residents close to Scolari’s grocery and a variety of local businesses and professional services. For those commuting to downtown Reno, you’ll be happy to hear that it’s only a 15-20 minute drive to your destination.

Schools

Schools serving the students in the Caughlin Ranch community include Caughlin Ranch Elementary School, Roy Gomm Elementary School, Swope Middle School, and Reno High School — all a part of the Washoe County School District. Also, just outside of Caughlin Ranch are the private schools Sage Ridge and Bishop Manogue.

Caughlin Ranch continues to be a sought-after community for Reno residents to call home. If you have any questions about what we love about the community or which homes in the neighborhood are currently on the market, contact the David Morris Group. We’re happy to help you begin your home search. Give us a call at (775) 828-3292.

Thanksgiving Traditions to Make Your Holiday Special

November 18, 2020/in Lifestyle /by Shauna Morris

It’s almost time to tune into the Macy’s Thanksgiving Day Parade, and before you and your loved ones gather around to watch the character balloons, floats, and performers put on a show, we wanted to bring you some other Thanksgiving traditions to make your holiday special. 2020 may have been unexpected, but it can still be an exceptional holiday with these new additions.

Make a Momento

Creating a little something that your friends and family can look back on year after year doesn’t have to be time consuming or expensive. Simply lay out a piece of butcher paper for your guests to sign, write a cute note, or list out what they’re most grateful for this year. Then, tuck away the piece of paper, and bring it out each year as a time capsule. You can continue the tradition each year and remember everyone that’s been a part of your family’s festivities and how each of you has changed throughout the years.

Learn Something New

Everyone has a special talent, skillset, or knowledge that can be shared. Have everyone bring something that they can teach at Thanksgiving. Don’t be afraid to think outside the box. It could be as simple as teaching everyone some fun Thanksgiving trivia facts or how to make the perfect cocktail to pair with dinner.

Have a Wishbone Scavenger Hunt

Do you have trouble putting the kids to sleep after a dessert-fueled sugar rush? Help them burn some energy by putting together a scavenger hunt to find the wishbone. Have your family come up with clues early in the day and hide them around the house. Send everyone out who didn’t help come up with the clues to search for the hints. The first two to reach the secret spot where the wishbone is located, get to split it.

Start the Holiday Giving Season Early

If you know that you won’t be seeing everyone for Christmas and you want to make sure they have some of those holiday memories, bring some of your Christmas traditions to Thanksgiving. Always watch “Miracle on 34th Street” while sipping peppermint hot chocolate? Do it early! You can also give everyone a Christmas ornament as a keepsake that they can hang on their own trees for the holidays.

Play a Few Games

If your biggest dilemma is how to keep your family out of the kitchen and entertained while everything is cooking, introduce some holiday games that will get everyone involved and having fun. Warning: You may actually have to go searching for your family to call them to the dinner table. For some great game recommendations, click here.

If you have any recommendations on new Thanksgiving traditions to make your holiday special, we’d love to hear about them. Contact the David Morris Group to share any tips and tricks you have or to simply find out more about the Reno real estate market. We’re happy to help you begin your home search. Give us a call at (775) 828-3292.

The Reality of Real Estate: Nevada First-Time Homebuyer Loan Programs – What Do They Offer and Can They Help Cover Upfront Costs?

November 13, 2020/in Reality of Real Estate, Reno-Sparks Real Estate /by Shauna Morris

As a leading real estate broker in Northern Nevada, we’ve worked with buyers and sellers with a variety of needs, wants, and tools at their disposal. While we are not mortgage brokers and can’t give you loan information that is specific to your circumstances, we have come to learn that there are some great first-time homebuyer programs available to help you cover the costs and secure financing for your dream home.

National Programs

FHA Loans – Popular amongst buyers with low credit scores and those that can only afford a small down payment. The Federal Housing Administration allows down payments of 3.5% for those with credit scores of 580 or higher. The FHA will insure loans for borrowers with scores as low as 500. Mortgage insurance is also required for an FHA loan.
VA Loans – Military members, veterans, and surviving spouses can qualify for loans with no minimum credit score and no down payment or mortgage insurance, but be prepared to pay a VA funding fee.
USDA Loans – Eligible rural and suburban homebuyers can receive a zero-down-payment mortgage through the USDA Rural Development Guaranteed Housing Loan Program. There are very specific limitations and guidelines you’ll have to meet to qualify.

Nevada Programs

Home Is Possible (HIP) – First-time and repeat homebuyers can receive up to 5% of the loan amount to pay the down payment, closing costs, or a combination of both. The money doesn’t have to be repaid if you keep the home as your primary residence. There are a variety of limitations that must be met, and you will need to complete a homebuyer education course.
Home Is Possible for First-Time Homebuyers – Down payment and closing cost assistance up to 4% of the loan amount that is strictly for first-time home buyers. There are limitations you will need to meet, but the money doesn’t have to be repaid if you stay in your home for 15 years.
Home Is Possible for Heroes – Active-duty military, honorably discharged veterans, members of the National Guard, and surviving spouses are eligible for below-market interest rates with a one-time fee of $755. Again, there are specific limitations you’ll need to meet, and an education course is required.

There are great programs at your fingertips to help you with the purchase of your first home. If you’re worried you can’t qualify for a great loan or won’t be able to secure financing, meet with an established mortgage lender to talk through your options. They have the tools and resources to find you the best program and can educate you on how to become a homeowner.

If you’d like some recommendations on great lenders in the area to contact for more information or you’re simply curious about the tools, resources, and knowledge we have for first-time homebuyers, contact the David Morris Group at 775-828-3292!

New Reno Restaurants to Get Excited About

November 12, 2020/in Reno-Sparks Businesses /by Shauna Morris

While you’re checking out the best turkey recipes and trying to decide which side dishes to add to your holiday menu, you may be working up an appetite or in need of a new place to try when you get tired of eating your leftovers. Luckily, there are some great new Reno restaurants to get excited about and try out.

Ding Tea

2900 Clearacre Lane, suite U-1
The Taiwanese bubble tea cafe offers a wide variety of milk teas with great taste. With a great selection and a beautiful presentation, Ding Tea has a lot of residents excited about their opening.

Dream Tacos & Cantina

180 W. Peckham Lane, suite 1110
The reviews are in, and Reno residents are talking about how good the street tacos are, specifically the al pastor street tacos, from Dream Tacos & Cantina. A friendly staff and scratch-made taco shells have put this place on our list of restaurants to give a try.

Isla De Manila

1575 Vassar St.
If you’re hoping to enjoy some Filipino comfort food or try delicacies that you may not have heard about, you’ll want to check out Isla De Manila. The chicken adobo, inasal chicken marinated in citrus, and beef kare-kare stew are just a few of the big menu staples to try.

The Office of Hughes and Porter Bar & Lounge

248 W. First St.
The Jungle Vino bar has gotten a complete revamp. The menu features a variety of handcrafted cocktails and a wine selection stretching the globe. As you sip on your favorite cocktails, be sure to check out some of the snacks and small bites. The Office of Hughes and Porter Bar & Lounge is the perfect happy hour setting.

Pasta Fresca

6135 Lakeside Drive, suite 138
The homemade pastas and pasta sauces are what this Italian restaurant are known for, but they also appeal to organic, vegan, and gluten-free diners with their wide variety of menu options. Pasta Fresca also has salads, desserts, breads made in-house, Italian imported meats and cheeses, and cappuccinos.

R Town Pizza

180 W. Peckham Lane, suite 1100
The Detroit-style pizza, craft beer and cocktails, and ice cream sandwiches have made this a highly anticipated new Reno restaurant to check out. R Town Pizza will have a variety of toppings and styles to choose from.

Tandem Chocolates

7111 S. Virginia St., suite A15
The custom confections and delicious chocolates will soon be ready for purchase at this dessert haven. If you have a sweet tooth or a love for award-winning bonbons, check out Tandem Chocolates.

Remember that carbs don’t count around the holidays. Be sure to make all of your favorite foods without guilt and check out these new Reno restaurants when you don’t feel like cooking. If you have any questions about the new businesses hitting the community or which homes are currently on the market, contact the David Morris Group. We’re happy to help you begin your home search. Give us a call at (775) 828-3292.

5 Reasons to Call Reno Home

November 6, 2020/in Reno-Sparks Real Estate /by Shauna Morris

Reno continues to be a popular destination for people looking to buy a home. As a vibrant city with unlimited opportunities and potential, the area continues to see growth while keeping the charm that it’s known for. Check out some of the reasons to call Reno home.

1. A Great Location

Location is crucial in real estate, and being located in an area that is near so many cities makes Reno perfect for those that like to be close to the action. In fact, from Reno, it’s roughly a

45-minute drive to Lake Tahoe.
1-hour flight to Las Vegas.
2-hour drive to Sacramento.
3.5-hour drive to San Francisco.

2. Affordable + Tax Benefits

Buying a home in Reno is more affordable than in many large cities, especially when compared to the California market. As a bonus, Nevada is one of the most tax-friendly states in the U.S. There is no state income tax, low property taxes, and no inheritance tax.

3. Outdoor Activities

With proximity to one of the most beautiful lakes, Reno residents can enjoy beach days and a variety of water activities. There are also great places to hike, bike, run, and climb. The highest concentration of world-class ski resorts in the country are located in the Reno area, so come the winter months, you have a variety of places to go to hit the slopes. Be a thrill-seeker and go camping, snowboarding, paddle boarding, boating, golfing, climbing, horseback riding, and more.

4. Beautiful Seasons

Reno residents get to experience what a true spring, summer, fall, and winter are like. You’ll have spring showers, hot days, leaves that change colors, and the occasional snow day.

5. Amazing Food, Entertainment, and Events

If you consider yourself a foodie, you’ll love Reno. There are all kinds of eateries, bars, breweries, food trucks, cafes, and more serving up a variety of cuisine and drinks. As a 24-hour city, there’s always something to do. Catch a game, watch a show, head to a concert, or visit the casinos. When it comes to events, Reno is home to Artown, Hot August Nights, the Reno River Festival, the Best in the West Nugget Rib Cook-Off, the Great Balloon Race, the Reno Rodeo, Burning Man, the Barracuda Championship, the Lake Tahoe Shakespeare Festival, and plenty more.

Living in Reno comes with benefits that are waiting for you to take advantage of them. The atmosphere, amenities, and affordability are just a few of the reasons to call Reno home. If you have any questions about what we love about the community or which homes are currently on the market, contact the David Morris Group. We’re happy to help you begin your home search. Give us a call at (775) 828-3292.

The Reality of Real Estate: Buying a Home Can Take Weeks or Months, So Be Prepared for a Lengthy Process

October 28, 2020/in Reality of Real Estate, Reno-Sparks Real Estate /by Shauna Morris

Many first time homebuyers fall for the illusion that buying a home will be as simple as picking out a dream home, signing on the dotted line, and then being handed the keys. Unfortunately, that’s not how it works. It can take anywhere from 30-60 days just to close on a home in a normal market, so let’s break down the home buying process with a realistic timeline of when you can expect to move into a new home.

Getting Pre-Approved for a Mortgage – 1-2 Weeks

After researching lenders and deciding on the best type of mortgage for you, it usually only takes about five business days to get mortgage pre-approval. Make sure to do your due diligence and shop around for the best deal and the best lender.

Creating a Wants and Needs List and Browse Listings – 5 Days

Your first list of things you need and want in a home may take you only an hour to create, but once you begin looking at the current listings, you may think of things you need, like specific neighborhoods to be in, school districts you like, and style of homes you’re drawn to.

View Houses – 1 Week-5 Months

Depending on the list of wants and needs you have for your home and the current market, you could find your perfect home quickly, or it could be a couple of months of searching. It’s not uncommon to spend 4-5 months searching before your offer is accepted on a home that meets your needs and some of your wants,

Make an Offer and Negotiate – 1-5 Days

Depending on the seller and how speedy they are to respond to your offer, this may be a quick period in the timeline or take a few days. If they reject your offer or make a counteroffer, this can also draw out the process.

Get Loan Approval – 1-2 Months

If you’ve been pre-approved for your mortgage, your real estate agent will gather the paperwork needed for your lender to approve your loan. On average, this takes about 45 days to come through, but it could be faster or slower, depending on the market.

Have Your Home Appraised – 1-2 Weeks

Your lender will hire an appraiser to evaluate the true value of your home. Once the appraiser comes out, it usually takes about three days to get the report back.

Get a Home Inspection – 1-3 Weeks

The home inspector will determine if there are any unexpected surprises and things of note that may need to be addressed before buying the home. You usually have about a 10-day period to conduct an inspection, and you’ll have the report back within 24 hours. It could take a few weeks to renegotiate the contract if any unexpected problems arise from the inspection report.

Closing – 1 Day

After all of those steps have been completed and you’re ready to close, you’ll have one long appointment to hand over your down payment and closing costs and sign a ton of paperwork. Seriously, you may leave with a hand cramp after all the signing, but you’ll officially be a homeowner!

Now, this is just a general timeline of how long it takes to buy a home, but it can certainly be sped up or more drawn out depending on what you’re looking for and what the current market has to offer. If you’re curious about what the Reno real estate market looks like currently and how we can help you buy your dream home, contact the David Morris Group at 775-828-3292!

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