Harvey survived his last week without his co-host Shelley Brown last week thanks to Kari Phillips of Southern Fidelity Mortgage and Tracy Ruccia of Equity Title. They joined Harvey for the last leg of his radio show as he went over Headlines vs. Reality and two fun facts.
Harvey’s Headline vs. Reality for last week dealt with new homes vs. resale homes. People seem to be getting worried that Southern Nevada is overbuilding homes again, a mirror of what happened before the 2008 recession. Harvey revealed that the impact of new homes isn’t that dramatic.
The median price of new homes, as Harvey tells listeners, is $133 per square foot. The median price of a resale home is $110 per square foot. Harvey also explained that there is a huge ration between resales and new homes. 3942 resales closed in May 2014 whereas only 496 new homes closed in the same month. Those are definitely some impressive numbers!
Harvey also had two fun facts for our listeners last week. The average home buyer searches for 12 weeks and visits 10 homes before they finally buy. Harvey also explained that people shouldn’t be so quick to change their brass doorknobs out for brushed nickel. Brass doorknobs disinfect themselves. That’s great for homeowners, especially those with small children!
Kari took the extra time with Harvey to talk about the VA element when it comes to jumbo loans. Jumbo loans are any loans over $417,000, but that amount varies across the country. Kari said that clients are getting large homes and putting nothing down thanks to the VA component. That’s definitely something to keep in mind when applying for a home loan!
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