AboutDiann Tonnesen Expertise I am a 22 year resident of Las Vegas and Henderson and I can answer any questions having to do with buying or selling real estate in the Las Vegas Valley. I am a professional Realtor with Century 21 and I have raised my children here, so I am particularly good at advising families about schools and neighborhoods. I just love Las Vegas and I want everyone to know Las Vegas is more than just casinos - it`s a fabulous place to live and work! The community is filled with loads of cultural activities, parks and friendly people and our weather is wonderful year round.
Experience My husband and I have been serving the Las Vegas Valley since 1983, so we really know the neighborhoods and can access them through our database which has over 8,000 new and resale homes. For our buyers we offer in-house lending at below market rates plus complete relocation services including free utility connection hook ups. For our sellers we have terrific strategies for preparing a home to get top dollar, and we have a high-tech comprehensive marketing program that will effectively promote their home to millions of people around the world daily.
Publications Real Estate ABC
Education/Credentials University of Missouri Journalism School
Awards and Honors Century 21 International Hall of Fame
Regional Picture of Success Award Winner
Top Office Listing and Sales Team
Centurion Agent - Top 1% of all agents nationawide
Expert: Diann Tonnesen Date: 9/1/2002 Subject: moving to Vegas
Question Hello, Diann! I and my husband will be moving to Vegas next summer and we would like to buy our first house. We're tired of paying rent and where we live-California-is just too unaffordable for beginning newlyweds like us. My question would be, how easy/difficult is it to buy in Vegas? What I mean is-we are first time buyers. We are also students working in the service industry while we finish school. We both have excellent, spotless credit and plan to have about $8000 to put down. I've heard a lot about no money down mortgages, so we figure $8000, while it isn't the usual down payment of 10-20%, is still substantial enough. Our combined yearly income falls around $50,000. What are our chances and what would be our price range? I would really appreciate your advice! Thank you!
Answer Dear Audra,
Welcome to Vegas! I've been here over 23 years now and I love it - hope you guys will too! To answer your question about what you would qualify for, if you don't have more than approximately $550 in other revolving debt (car payments, credit card payments, student loans, etc.) you can qualify for about $160,000. You will have to have jobs here in Las Vegas, though, before you can get a mortgage. They would need to be in the same type of work as what you are currently doing, and hopefully you have been doing this kind of work for at least two years. Unless you will have finished school by this time and will be working in the field you graduated in?
We will probably need a little more information to give you totally accurate advice, but this should get you started. With your spotless credit I am SURE it will be no problem to get a loan, we just have to figure out the proper logistics! :) Feel free to email me directly at c21vegas@aol.com with more questions and also try going to my web site at www.GreatLasVegasHomes.com. There is a ton of good information there about buying a home for the first time and obtaining a mortgage. There is also a lot of information on the different neighborhoods in Vegas and Henderson that you should find interesting.
Don't worry, buying your first home can be kind of scary, but when you do your homework (like you obviously are) it's really exciting! About 60 days before you are ready to make the move is the time to come out and physically look at homes - if you come any earlier you will just make yourself crazy!! :) Nothing worse than to find the "perfect" home and not be in the position to buy it yet.
