reno real estate agents | David Morris Group

Could You Be the Next Copper Knolls Resident?

Located in the Somersett area lies the picturesque neighborhood of Copper Knolls. With beautiful mountains surrounding the community, each home has a dazzling view to offer residents. The gorgeous scenery is but one of the things to love about the charming community of Copper Knolls.

Homes

Single-family homes in the Copper Knolls area average about 2,156 to 2,899 square feet and feature two to four bedrooms. As a community that was built in the early 2000s, it’s a newer development in the Reno area. Homes are located between the Somersett West Park and the Somersett East Park on lots that range from 0.19 to 0.37 acres.

Amenities

Just minutes from the Copper Knolls neighborhood lies the Somersett Golf and Country Club, where residents can enjoy many amenities and a panoramic view. The nearby parks also offer the neighborhood a ton of green space to explore as well as basketball courts, a playground, and picnic areas.

For anyone looking to explore the boutiques, coffee shops, restaurants, and nightlife of Downtown Reno, Copper Knolls is just under 10 miles away. That also means that anyone commuting to Downtown Reno for work only has a 15-minute drive.

Schools

Schools serving the students in Copper Knolls include George Westergard Elementary School, B.D. Billinghurst Middle School, and Robert McQueen High School — all a part of the Washoe County School District. The public charter school, Coral Academy of Science, offers an alternative to the Washoe County School District.

Copper Knolls is a tight-knit community that Reno residents love 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.

Easy Upgrades To Get Your Home Ready To Sell

January 4, 2021/in Lifestyle, Reno-Sparks Real Estate /by Shauna Morris

If you’re thinking about selling your home, there’s never been a better time. With increased demand and low levels of inventory, buyers have never been more motivated to purchase a home. While it’s a great time to sell, it’s also the perfect time to make a few adjustments around the house in order to maximize the return on your investment. Check out the easy upgrades to get your home ready to sell.

Easy Upgrades Throughout the House

New hardware – Brass hinges, old doorknobs, outdated cabinet handles, etc,. can be eyesores that take away from your home. A few simple changes can elevate the design of items in your home and give them new life. Buyers will notice and comment on new hardware — trust us!
Deep clean the floors – Polish up the hardwood floors, steam clean carpets, and make sure the floors look ready for a new family. Dust bunnies, scratches, and stains will detract from the rest of your home.
Refresh the grout – Dirty or outdated grout in the kitchen and bathrooms can be a major turn-off for buyers. Give it a deep cleaning or put a new application of grout to make these areas of your home shine.
Lighting – Lighting is the key to a great showing. You not only want great natural light, but you want your light fixtures to brighten the home and be stylish. Lighting can often be overlooked by a seller, but it’s never overlooked by a buyer.

Easy Kitchen Upgrades

Add a tile backsplash – A simple tile backsplash doesn’t have to be expensive or even something you hire someone for. There are tons of options available to you, and it makes for a great weekend DIY project.
Paint the island – Painting cabinets can be very time consuming, so cut the time in half by focusing only on your kitchen island. It’s a very trendy fix, and it shows that you’ve put some TLC into your home.

Easy Bathroom Upgrades

Mirror, mirror, on the wall – If your mirror is showing signs of wear or is tragically outdated, change it out. Research some of the popular design trends and measure to see which ones will work in your space before purchasing the new mirror.
Bathroom fixtures – If the faucet and shower fixtures are looking a little old, simply switch them out for something newer.

Spending a little time and money preparing your home for the market can greatly impact the resale value and entice buyers. Start with these easy upgrades to get your home ready to sell, and if you have any questions about how the David Morris Group can help you find the right buyers to get your home sold quickly, contact us at (775) 828-3292.

The Reality of Real Estate: Predictions on Trends for Purchasing a Home in 2021

December 28, 2020/in Reality of Real Estate /by Shauna Morris

We can all admit that 2020 has been an unexpected year, and many are wondering what 2021 will hold. It’s been a question that many real estate professionals are fielding from their clients, and as your trusty real estate advisors, we’re here to offer some predictions on trends for purchasing a home in 2021.

Even Lower Mortgage Rates

2020 brought some of the lowest mortgage rates we’ve seen, but Fannie Mae, Freddie Mac, and the National Association of REALTORS® are all predicting that those rates will fall again or stay flat in 2021. If you thought you missed out on getting a great 30-year fixed mortgage rate, you may be wrong!

Prices of Homes Will Increase

This year has marked a remarkable increase in home prices, and we’re likely to see more of the same in 2021, but at a slightly lower rate than that of 2020. Freddie Mac and the National Association of REALTORS® showed that prices increased by 5.8% in 2020, and they are likely to rise by 2.7% in 2021.

Making Compromises Will Be Necessary

Because of the bidding wars that are happening, it’s likely that you will need to closely look at the loan you’re pre-approved for and look at homes below that budget to account for higher deposits, full-price offers, multiple offer situations, and those waiving appraisals and inspections altogether. Take a hard look at what you need and what you want, then crunch the numbers on the down payment, lender’s fees, and property taxes you will face for the homes that meet your budget and the items on your needs list.

Inventory Will Remain Low

Unless buyers leave the market or new construction home builds increase exponentially, we will continue to see low monthly inventory. This is what will contribute to the increase in home prices that we talked about earlier. Low mortgage rates are incentivizing many to purchase a home now, but there’s a supply shortage of homes for buyers entering the market.

If you’re interested in learning more about the predictions we have on trends for purchasing a home in 2021, contact the David Morris Group at 775-828-3292. Our years of experience have made us experts on the Reno-Sparks real estate market, and we’re always happy to share our insights with you.

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

December 11, 2020/in Reality of Real Estate, Reno-Sparks Real Estate /by Shauna Morris

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!

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!

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!

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!

The Reality of Real Estate: Winning Your Dream Home in a Multiple Offer Situation

October 9, 2020/in Reality of Real Estate, Reno-Sparks Real Estate /by Shauna Morris

In a real estate market with more buyers than sellers, buyers can often be more competitive and put sellers in a position to receive multiple offers. How can you make your offer stand out and help you win your dream home in a multiple offer situation? If you play your cards right, it may not come with a higher price tag either!

1. Appeal to the owner’s reasons for selling.

Something as simple as understanding why the seller has put the home on the market, can help you appeal to the problems they may be facing. Taking the initiative to understand the seller’s point of view and being empathetic to their situation will often win you points and gain you a good first impression from the seller.

2. When it comes to closing, don’t dilly dally.

A quick closing is appealing to many sellers. It’s why many will be enticed by a cash buyer or anyone that is working with a lender that can fast-track the financing. Offering little to no waiting period for closing can make any offer standout.

3. Personalize the offer.

Sellers can drown in a sea of paperwork, especially in a multiple offer situation. Add a personalized note to the seller that pulls at their heartstrings and highlights what you find so special about their home. Many homeowners are sentimental about their house and would like to sell to someone that sees its worth just as much as they do.

4. Be flexible and easy to work with.

In a high-stress situation, the seller is looking for someone that is a breath of fresh air. Be willing to work with the seller and make compromises and concessions. Don’t negotiate over superficial repairs and only sweat the big stuff.

5. More earnest money can sweeten your offer.

Showing serious interest and commitment to buying the home can come in the form of offering more earnest money. You will immediately differentiate yourself from other offers.

Think outside the box and having creative solutions at your fingertips can help you win in a multiple-offer environment. Have questions about how we can help you win your dream home in a multiple offer situation without paying the highest price? Contact the David Morris Group at 775-828-3292.

The Reality of Real Estate: What are Home Inspectors Looking for, and How Can it Save You From Making a Bad Investment?

September 24, 2020/in Reality of Real Estate /by Shauna Morris

Before closing, you’ll want to hire a professional home inspector to identify any underlying problems and the overall condition of the home. It saves you from making a bad investment, gives you an idea of the maintenance and repairs you may need to make the home, and may even give you some leverage to make negotiations on the asking price if there are things that will need to be fixed. Let’s take a look at what home inspectors are looking for.

1. Signs of mildew and mold

Inspectors will look closely at basements and crawlspaces for mildew odors. They may also use a meter to determine how much moisture is present, as moisture can deteriorate building materials and attract insects. They will also look closely at the walls and floors for patches of mildew and signs of dampness.

2. Problems with the roof and chimney

Any loose or deteriorated roof shingles will be notes in the inspector’s report, as well as if there are any moist or rotted elements beneath the shingles. They will also check that the chimney is watertight and that mortar and bricks are in good condition.

3. Plumbing functionality

Each toilet will be flushed, faucet turned on, and dishwasher ran in order to check the water pressure and see if there are any leaks. If there are any signs of water damage or concerns for the health of the septic system, it will be noted.

4. Problems with electrical systems

Inspectors will make sure that the home is up to code and that circuits are running properly. They will ensure that the electrical system isn’t being overloaded and is safe to live in.

5. Structural integrity

Over time water can cause the soil around the foundation walls to expand, and when the water goes away, the soil shrinks, and the foundation settles. This creates cracks and pathways for water to enter the structure. This is a big item that inspectors will be looking for. They want to make sure the home is structurally sound.

6. Pest infestations

Carpenter ants, beetles, termites, and rodents can be some of the most damaging pests to a home. Inspectors will look for signs that there is an infestation or if there have been previous problems with these pests.

7. Trouble with the HVAC system

As a homeowner, you’ll want to ensure that your home has proper heating, ventilation, and air conditioning. Home inspectors will check to make sure all basic functioning of the HVAC system is in working order, and they’ll note if there’s anything that could be troublesome in the future like rust around the unit, cracked ductwork, etc.

Home inspections give you a great overview of the home as well as another unbiased opinion on if the house is a good investment. Don’t skip out on getting a home inspection to save yourself a few bucks now. You could be putting yourself in a tough financial position in the long run.

As a first-time homeowner, it’s crucial to have an idea of what to expect and how to handle the responsibility of owning your own home. The David Morris Group is always happy to show you the ins and outs of owning a home and help you make the transition from renter to homeowner seamlessly. Give us a call at 775-828-3292.

The Reality of Real Estate: Are Home Warranties Worth it or an Unnecessary Cost?

September 11, 2020/in Reality of Real Estate /by Shauna Morris

As a new homeowner, you have a lot on your plate to figure out. From mortgages to insurance and property taxes, there’s a lot of money being taken out of your account, legal jargon being spewed at you, and paperwork to sign. Now you have a new term being thrown at you — home warranty. What is it, and do you need it? Let’s take a look.

What is a home warranty?

Put simply, a home warranty is a one-year service contract that covers the repair of home system components and appliances.

How is a home warranty different than home insurance?

Home warranties cover the repair of home systems like kitchen appliances, A/C, and plumbing from normal wear-and-tear damage. Home warranties are also optional, while home insurance is usually required to secure financing for your mortgage. Home insurance generally covers damages caused by fires, theft, storms, and natural disasters.

Does having a home warranty ensure I will not have to pay for repairs?

NO! Many homeowners believe that a home warranty is a flat fee for unlimited repairs and no out of pocket costs, but that’s not the case. Every time you make a claim with your warranty provider and a technician is sent out, you will be charged a deductible that usually costs anywhere from $50 – $125. You will be charged that deductible for every appliance that needs to be repaired.

Also, home warranties often include escape clauses to deny coverage. For example, some repairs will not be covered if they can be chalked up to a “pre-existing condition” or if the cost of repairs is more than the set amount laid out in your contract. Many warranties give the issuer the right to deny the customer repairs if they can’t show proof that they’ve maintained the appliance or system on a regular basis. Be sure to read the fine print!

What if I have a manufacturer’s warranty?

Items that are covered under a manufacturer’s warranty are usually not covered under a home warranty. If you’re buying a new construction home or new appliances, you’ll likely have a manufacturer’s warranty, so if you purchase a home warranty, you’ll be doubling up on coverage and spending money you may not need to.

If you’re considering getting a home warranty, be sure to read the terms and conditions closely and ask questions. Compare rates and coverage and make the right decision for you. If you decide not to purchase a home warranty, we recommend setting aside a few hundred dollars a month for any unexpected costs and repairs that spring up.