Category Archive : Real Estate

Investors are interested in purchasing Real Estate Owned properties (REOs) because they know that the lending institutions who own these properties, banks, for example, or government agencies such as HUD or FHA  are anxious to clear their books and rid themselves of negative inventory.

As a result, many of these properties will be sold at attractive, below-market prices, especially when REO inventories are exceptionally high, as they are at this point in time.

However, if a deal is made in which the investor and the lender have agreed upon a sale price, there could –dependent upon the sale price as opposed to prevailing market conditions- be a problem with the appraisal.

An appraisal could come in low due to any number of reasons, including the possibility of the appraiser being inexperienced or unfamiliar with the area, the selling price being out of line with declining market values due to fallout as a result of an excessive number of distressed properties, etc.

In such cases the buyer can request a second-opinion appraisal, make up the difference in cash, walk away from the deal, ask the seller to lower the selling price, or possibly offer to make up the difference with a second mortgage as an example.

Dependent upon the lender and market conditions, an estimated cost of repair presented to the lender might be a negotiation bargaining point. Very often, there are repair issues with REO properties primarily due to the fact that the former owners would have little incentive in maintaining the home during a foreclosure proceeding.

During these uncertain times, the investor should be wary of being lured by an attractive considerably below market priced foreclosure offered for a property that is located in a depressed, or likely to become depressed neighborhood.

Because of current market conditions which are causing loan defaults in record numbers, depressed areas will likely take years to recover, and buying an REO property in such a neighborhood would seem unsuitable for investment purposes.

Although they are much less in number, and as a result, would be harder to find, there are some properties that may be loosely termed Individually owned REOs.

That  would refer to landlords, who have taken back lease-optioned properties or properties that were  lender financed and the deals have fallen through due to the tenant or buyer’s financial difficulties, and are now themselves in need to sell circumstances.

It’s best to remember that despite the hype, institutional and government lenders aren’t going to give their REO properties away, and most foreclosures will be priced at very near market value. Disclosure of defects isn’t mandatory, and it is often a “buyer beware” situation when it comes to purchasing an REO.

But even though REO asking prices may soften somewhat as new REO properties are released to the marketplace, smart home sellers in good standing with their lenders, with well-maintained property in good repair, a realistic selling price and a savvy agent, will prove to be a very competitive force that should easily attract buyers who are not willing to hassle with countless rules and regulations in order to pursue a “bargain” property and still possibly end up with a fixer-upper headache.

If you have any questions about investing in Las Vegas Real Estate, feel free to give us a call at 702-376-0088.

Under today’s marketplace conditions, with the availability of so many Las Vegas distressed properties, foreclosures, short sales and motivated sellers in abundance, offering properties that can be purchased at considerably under market prices, why would anyone consider making an offer on a home that is unquestioningly over priced?

The overpriced home is probably in excellent ready to move in condition, has desirable upgrades, and is most likely located in a stable and well-maintained neighborhood.

Certainly, the overpriced, but well maintained home looks very good compared to distressed properties that may be in variable states of disrepair. Many buyers might be inclined to pay a little bit more for a property that has passed inspection with high marks.

Comparisons may be made between the true cost of buying a property needing repairs and upgrades and a property that is ready and waiting for you and your furniture, with no additional fix-up expenses, and the answer to this comparison might well be surprising.

Of course, all is not so simple. In the first place, most buyers will not even bother to look at an overpriced home, much less make an offer for the property.

Additionally, the question to be asked is; why would the listing agent not advise the client that the home is overvalued? The listing agent cannot use inquiries about the home to divert buyers to less expensive properties since no one will be calling.

However, the overpriced home may be the dream home some buyer has been looking for, and the buyer’s agent can use some strategic negotiating tactics to try and work out a deal that would be agreeable to all parties.

First of all the buyer and his/her representing agent needs to find out why the home has been priced out of market.

Could be that as mentioned previously, the listing agent might be inexperienced, and neglected to do a comparative Market Analysis (CMA) to aid the seller in setting a realistic at or under market price for the home. As a result, the buyer might be unaware of how far out of line the asking price might be.

Could be that the seller has an inflated view of what the property is actually worth, and has refused to consider the advice of his agent.

A savvy buyer’s agent, knowing that his/her client really loves this property, would offer to provide the seller and listing agent with a CMA, and an estimate of what a fair price for the property would be, and would follow-up by making an offer that would be closely in line with the market analysis.

By pointing out market conditions to the seller, and affirming that the buyer has been pre-approved by a lender and is in a position to purchase, particularly if there are no contingencies to complicate the deal, the buyer may now be in a position to buy that dream home at a mutually agreeable price.

If you are interested in selling your Las Vegas Home and have any questions about the process or the need to do a short sale, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

The negotiation process between buyer and seller that begins with the buyer’s initial price offering, is an emotional and very stressful time for both parties. Las Vegas Real Estate Agents naturally go through this process with their clients time and again, but first time buyers and sellers may need a lot of hand-holding to keep calm and think rationally.

Since each and every transaction is unique in its own way, the listing and buyer’s agents must help their clients to plan properly, fully understand the process, and how to react to each others negotiating tactics.

Agents for both sides could close deals faster and more often if they would educate their clients about fair market values, and explain how the results of a Comprehensive Market Analysis (CMA) can help establish a realistic price that would assure both buyer and seller that they are in a win-win situation.

Once an agreeable price is established, the buyer has already been lender approved, and the house passes its appraisal and home inspections, the deal is just about done.

Establishing a selling price for a property could be fairly easy to determine if all factors were ideal, which is generally not the case.

Ideally, the home would be in good physical shape, and well cared-for, both inside and out. There would be no encumbrances other than a first mortgage, or none at all if the home was paid off. No liens of any kind, unpaid taxes, etc.

A CMA taking into consideration any upgrades to the home and similar neighborhood properties that might be considered competition, should be a reliable guide to establishing fair market value for the seller.

The buyer should also be made to understand the relevance of a CMA, which would serve as a guideline for the seller’s offering bid. If negotiations are to get off to a promising start, the buyer –in consultation with his/her agent – should offer a first bid that would seem fair to the seller. A bid so low as to be insulting will not receive a counteroffer.

When the seller and buyer realize that the seller will make an acceptable, but not unreasonable profit, and the buyer is paying no more and most likely less than fair market value, then you have the win-win situation that will result in a done deal.

Of course, that is a perfect scenario, and does not take into consideration all of the complexities involved in the sale and purchase of distressed properties.

However, in any case, particularly with first time buyers and sellers involved in property sale negotiations, the listing and buyer’s real estate agent’s should provide the education and communication that will prove beneficial to all involved.

If you are interested in purchasing a home in Las Vegas and have any questions about the Las Vegas Market or would like to set up a time to view properties, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

Often, first-time home buyers neglect to consider the costs involved in purchasing insurance, and/or how the cost of property taxes will impact their mortgage payments. Likewise, someone selling their first home may not be fully aware of how much of an impact taxes levied on the sale of the home will have on the seller’s net profit.

A first-time buyer may be unaware that the property taxes paid by the seller will most often differ from the property taxes paid by the new owner. Property taxes are  based upon the assessed value of the property, and may be higher or lower for the new owner.

When Homestead exemptions are allowed, in accordance with governing state laws, the new homeowner can apply for and receive a tax reduction. In some municipalities a further age-related property tax deduction can be applied for if the home owner is in the sixty-two to sixty-five year old range.

Home Owner’s Insurance

Although a new home buyer may surely be aware of the importance of having adequate homeowners insurance coverage to protect the home against catastrophic damage resulting in a total loss of property, such as from fire, flood, hurricanes, etc., or lesser but major problems within the home, liability coverage and the like, many people still purchase insurance based on cost rather than on the reputation for quality service of a company.

Case in point; in the aftermath of the devastation caused by Hurricane Andrew in South Florida in 1992, some companies –which will remain nameless- refused to pay the full amount of damages incurred by many of these homes by second guessing reputable and reliable contractors. However, some lesser-known and smaller companies accepted the damage claims of reliable contractors and paid in full to repair and often fully restore these homes up to current code.

That is why it is so important to be sure you are covered by an insurance company with a reputation for standing by its customers in time of need. Ask your friends and neighbors about their experiences with their companies, and do some research before you commit to a company which may add to your grief at a difficult time.

Of course other insurance costs may involve title insurance which protects the borrower against ownership challenges, flood insurance (a federal program,) which could be mandatory if the property is located in a flood risk area, and FHA loan required mortgage insurance, which protects the lender against the risk of foreclosure.

A full understanding of all the details involved in buying insurance can save you big dollars. For example, the higher your deductible –the amount of the claim you are personally responsible for – the lower your insurance premium.

At least a 20 per cent down payment on an FHA backed mortgage loan will save the expense of carrying mandatory mortgage insurance coverage. Other arrangements can be made so that the insured can pay a slightly higher interest rate and have the insurance built into the loan. An additional benefit of this arrangement is that it is tax deductible, which the separate mortgage insurance is not.

As any Las Vegas Real Estate Agent hosting an open house event can tell you, that is the time when many questions are asked by visitors. Although most questions are relevant some are very revealing as to the type of potential buyer this person might be.

• How long has this place been on the market? The question reveals that this person may be looking to low-ball the seller based on the idea that if the house has not sold in some unspecified period of time, the owner is probably desperate.
• What is the tax appraisal on this property? As though they can accurately formulate an offer to the seller based on that figure. The disparity in tax appraisals from one property to the next, even in the same neighborhood, can be maddening to decipher at times.
• Has the house been inspected? Apparently this person, or these people, are not aware that they would need a new inspection of their own if they plan on purchasing the property.
• Why are they moving? Not always a relevant question. If this is the house you want, and it can be purchased at a fair price, and passes inspection with flying colors, that’s all you need to know.
• Obviously the question of why the seller is moving is asked to find out how motivated the seller is. The seller may also be aware that revealing the true reason for moving might weaken the seller’s bargaining position.
• How much did they originally pay for the house? That’s a really silly and totally irrelevant question. What if the house was purchased fifteen or twenty years ago? All the potential buyer needs to know is what is the true and current fair market value of the home. The reason a person may ask this question is that some buyers really resent the idea that the seller is going to profit from the sale. Strange but true.
• I’m not sure what I am really looking for, but I’ll know when I see it. Can we just drive around and look at some properties? That question requires an educated and tactful answer.

Certainly, no one wants to discourage a potential client –who, of course is no being represented by any other agent- but this person needs to be made to understand that he/she should sit down with paper and pen and do some soul-searching. The client should be told to consult with family members as to what is important in a home versus what would be nice but not a must, budgetary limitations, time frame, current housing situation, etc.

The client should be made to understand that just driving around in the “hope” that the ideal property can be found would prove a waste of everyone’s time.

Providing a well thought out list, the client should be told, will increase the chances of finding the ideal home in Las Vegas the shortest time, since the agent will examine the list and then choose the properties to visit that are closest in line to what the client would want.

For further information about purchasing a home in Las Vegas call 702-376-0088.

If you are planning to sell your Las Vegas Home and purchase a new one, you might be tempted to look for a new residence before your current home has been sold. Don’t do it! Just think of the predicament you would be in if you find and purchase your next dream home, and are still carrying the mortgage on your current home.

Are you one of the lucky few who could comfortably manage two mortgages simultaneously? That wouldn’t seem to be the best of situations for most people. Besides, you aren’t just paying two mortgages, you are also having to maintain two homes. That means paying double utility bills, insurance premiums, lawn maintenance, repairs, etc. And another thing, how will the insurance premiums on your old house be affected during the time it is unoccupied?

Suppose you have a serious (and qualified) buyer for your present home, and you are already into serious negotiations with the seller of a home you have decided to purchase, and both deals go through, what happens then?

Unless you are extremely lucky, coordinating closing dates to everyone’s satisfaction won’t be easy. Of course, simultaneous same-day closings can be accomplished, but the chances of something going amiss could pose problems for all.

You could also approach the owner of a home you are interested in buying and offer to purchase the property contingent upon selling your home. The seller might agree to that condition, provided you already have a contract from a buyer of your home.

Whatever you do, try to avoid overlapping mortgages. It could become nightmarish. It makes much more sense to sell your old home first, and then, leisurely and without undo pressure, search for your new home.

Remember, you naturally want to sell your home quickly, and at a satisfying price, so it is important to remember that under any market conditions, the property that looks good inside and out, is priced right, marketed right, and has experienced and knowledgeable listing agent representation, is the house that will sell in a buyer or seller’s market in a reasonable length of time.

Once you sell your home and are free of mortgage payments you can rent temporarily while you are house-hunting. Even if you decide to stay in a hotel or motel while house-hunting, and your furnishings, etc. are put in storage, it’s a whole lot better (and cheaper) then carrying two mortgages.

Under current market conditions, and with an experienced real estate agent representing you, you shouldn’t have to rent for very long. The time is as ripe as it will ever get to buy a home. Selling prices are still falling, and if you have really good credit, interest rates are at mouth-watering all time lows.

If you are interested in selling your Las Vegas Home and have any questions about the process or the need to do a short sale, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

Inspections Prior To Listing

Having a Home inspected prior to purchase is an important safeguard for buyers and lenders, in order to ensure that the structure that represents thousands of dollars in investment capital is sound and the home’s vital components are in good working order.

Las Vegas home sellers would do well to have their homes inspected prior to listing, in order to be assured that the home is in good repair or that any problems found have been dealt with.

Although some states do not require licensing of home inspectors, the State of Nevada does. Inspectors are licensed and regulated by the Nevada Real Estate Division, and certified under the categories of Residential, Commercial and Master Inspector.

Home inspectors can be located through the National Association of Home Inspectors (NAHI.) Certification by the NAHI is a professional credential for home inspectors.

A home inspector check list will include the following:

• Home interior
• Home exterior
• Foundation
• Roof, flashings and gutters
• Roof support structure
• Attic
• Basement (if applicable)
• Insulation quality
• Garage
• Electrical
• Visible plumbing, interior and exterior
• Central air and heating

After inspection, a written report will be issued that will describe the home’s overall condition and will indicate any problematical issues discovered.

When interviewing an inspector, find out what type of insurance coverage or coverage’s he has. He should have liability insurance, but he may or may not be covered by an errors or omissions policy (E&O.) An E&O policy will cover an inspector who is negligent in his work, overlooks a serious defect or malfunction, or signs off on an inspection report without denoting an obviously existing problem.

It is important to note that inspectors do not examine a home in minute detail. Inspections are visual and done primarily to discover adverse conditions, and/or safety concerns, and not cosmetic items. Wiring and plumbing not visible to the naked eye, for example, would obviously not be possible to inspect.

Inspectors do not verify code compliance, and cannot inspect inaccessible areas of the home. Additionally, the inspector cannot guarantee that some structural problem or component of the home that has been inspected might fail sometime after the inspection date, if it was in apparently good condition or good working order at the time inspected.

Since long-term prospects of systems can’t be predicted, it would be a good idea to ask the inspector if any systems he has examined might need a specialists attention in the near future.

Certainly, radon and pest inspections are very important as well, and a home inspection company might offer to subcontract and get these inspections done for you, but it probably would cost less to hire these specialists yourself.

There is no doubt that the overall quality of a school district has a definitive impact on home values. In fact, the one of the most prominent reasons for families with school-age children to choose or reject a particular Las Vegas Home is based less upon the likes and dislikes of the home, and more upon the known quality or lack thereof of the school the property is zoned.

It’s an absolute fact that the market value of residential homes located within the jurisdiction of a quality school remain consistently higher than the value of similar homes in a less desirable school zone.

Often, buyers will be willing to pay premium prices for a home within a high ranked school zone, which is a primary reason for such a home to command top dollar.

Even in a market of declining home values, such as we are experiencing today, homes within the better school zones are holding their value far better than most.

A home within a school zone recognized for its consistency in quality education is often considered more desirable than a home that is perhaps located more conveniently to shopping, entertainment and business districts, for example.

Sixth largest in the United States, the Clark County School District has a number of schools that have rated among the nation’s best. Green Valley High School has, in fact, been proudly ranked among the top ten high schools in the country.

Detailed information about schools in the Clark County School District, as well as charter schools, can be viewed by parents and guardians through required annual reports. These reports are also used by Las Vegas school teachers and administrators to help develop academic achievement programs designed to increase the learning skills of all students.

Additionally, a Magnet School Program developed by the Clark County School District provides students with the opportunity to attend schools offering unique educational programs.

Under these programs, parents and their children have the opportunity to choose which of the Magnet School’s specific offerings would best suit the child’s particular interests.

Important consideration should be given to the fact that there is always a possibility that school boundary changes could occur if, for instance, a particular school is growing rapidly and is near or over capacity.

A new subdivision located near an established neighborhood could possibly stress the capacity of the adjacent schools and cause a school boundary shift, and although homes in a good school zone can often command selling prices of twenty to thirty percent higher than similar homes in a lesser school zone, a school boundary shift which would put the home in a less desirable school zone would most certainly negatively affect market values.

What can you do? Evaluate all of the factors involved, and just try to make the most intelligent choice possible. Remember, in the real estate marketplace, as in life, nothing is guaranteed, and change is inevitable..

If you are looking to purchase a Las Vegas Home within a particular school zone and have any questions, feel free to give us a call at 702.376.0088.

Which Would Be The Best Choice

If you are planning to buy a Las Vegas Home, and are not sure of whether you are interested in a new home, a somewhat older resale, or a truly “older” home, it would be best to avoid confusion by researching what the differences are in older and newer homes, and how these differences would or would not be to you and your family’s liking and adaptability.

Be sure to have a family consultation after you have carefully examined these differences, in order to reach a consensus as to what kind of home would best suit everyone’s lifestyle.

Above all, try to reach some conclusions before you bring your appointed real estate agent into the picture. Once you are focused on the kind of homes you have decided you are interested in, and in what price range, your agent can go to work and locate properties of interest.

Differences in newer and older homes are many.  For example, older homes –in particular, homes  built in the 1950s thru the  1970s –  may offer less interior living space then a newer home ( a typical two or three bedroom home in those days might be about 900 to 1600 square feet, with one or one-and-one half bathrooms)  but may have been built on a larger lot since land was not quite at such a premium then.

Rooms and windows are generally smaller in these older homes, and each of the rooms are pretty much closed off from one another. The open floor plan of modern construction allows for lighter, airier surroundings, and larger windows will let in more daylight.

Rewiring might be a distinct necessity for some older homes, which may not be able to accommodate all of the high end kitchen appliances and electronic equipment that are in every day use today.

Additionally, the cost of a code upgrade or remodeling of an older home should be taken into consideration as well. On the other hand, an older homes mature landscaping, with towering trees and abundant shrubbery, are a definite plus factor, since landscaping today can be an expensive proposition, and trees and shrubs can take years to reach full size and maturity.

Due to lesser square footage, the older home lacks the equivalent storage space available in newer construction.

However, the quality construction found in many older homes is often better than on many comparable newer Las Vegas Homes. These homes were built to last, with sturdy 2×6 redwood framing and solid plaster walls in place of sheetrock.

Many vintage homes, such as those built in the 1920s and 30s, have architectural features that give these homes a “character” that is appealing to many people. Many of these vintage homes are located closer to downtown areas, which can make them quite expensive to own.

So, the conclusion seems to be that whether to buy a new or older home is pretty much a judgment call, and your decision should be based on many factors, and especially how well a particular home, old or new, fits in with your expectations of what an ideal place to call home should be.

If you are interested in purchasing a “resale”  or new home in Las Vegas and have any questions about the Las Vegas Market or would like to set up a time to view properties, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

Although there are many reasons why some Las Vegas Homes are harder to sell than others, some obvious and some not so obvious, basically, most any home should be saleable. Even if the home is in bad shape, there are always buyers out there looking for fixer-uppers. What then could be the problems that are keeping a particular home sitting unwanted in the For Sale columns for many long months?

Let’s look at the obvious:

• The asking price is too high. If the house is overpriced, then the primary reason the house has not been sold is either the fault of a homeowner who insists on a set selling price and won’t budge, or the Las Vegas Listing Agent, who is either not familiar enough with the neighborhood, and has not bothered to do a comprehensive neighborhood market study, or is hampered by inexperience and is not capable of convincing his/her client that they are being unrealistic.
• The house lacks “curb appeal.” The homeowner has neglected to spruce up the yards, front and back and the exterior may have that uncared for look; peeling or dull looking paint, a shoddy front door, screens that need repairing, cars and trash cans in plain view in the driveway, etc.
• The interior of the home has not been “staged.” That is to say, a fresh coat of paint in a neutral color, carpets vacuumed, home thoroughly cleaned top to bottom, appliances shined, furniture attractively arranged and clutter removed. Rooms should look bright and cheery, and most personal items removed to make it easier for a prospective buyer to imagine him or herself occupying the premises. A messy home is understandably a big turnoff to buyers.
• The Las Vegas Property has not been professionally marketed. If the homeowner is trying to sell on his/her own, they will not be able to access the resources or depend on the marketing skills of a real estate agent, and as a result will not get the badly needed exposure the home needs in order to attract a buyer in this very competitive “buyer’s market.” Furthermore, many buyers are uncomfortable dealing with an owner directly, and would rather negotiate through their real estate agent.

What can be done to make the house saleable, besides all of the above corrective actions? Adjust the asking price to coincide with current prevailing market conditions in the area, and for the listing agent to ensure that the property gets maximum marketplace exposure.

Additionally, the listing agent’s negotiating skills, or lack thereof, as well as a buyer’s and/or seller’s unwillingness to compromise, are often key reasons as to why a home can be difficult to sell.

If you are interested in selling your Las Vegas Home and have any questions about the process or the need to do a short sale, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

BUYING A LAS VEGAS HOME

Before you even begin to search for your new Las Vegas Home, you and your family should prepare a checklist of wants and needs, a list that will analyze exactly what those absolute needs are, as opposed to your wants, such as a spare bedroom or home office, which would be nice but not absolutely necessary.

A list that is realistic, in accord with market conditions, and leaves room for compromise will help you to focus on the specifics of what your needs really are in a home, neighborhood, etc., and is helpful to your agent, who will know what to focus on as well.

A helpful list of needs and wants, emphasizing the importance of needs first, would consider the following, arranging individual needs and choices in order of most importance to you. For example:

• Where in town do you prefer to live?
• Older home (over five years) newer, or new construction?
• How much house can you afford? What price range?
• Have you been pre-approved by a lender?
• Convenience of location: short commute, or close to public transportation, nearby to shopping, schools, etc. Which of those choices are the most important?
• Neighborhood demographics: nicely kept homes on a quiet street, property located on a cul de sac, or corner lot, crime stats, quality of school district. Good schools add quality to a neighborhood and should be an important consideration.
• Number of bedrooms, baths required
• Single or two story construction. If anyone has a problem with climbing stairs, a one story is obviously the best choice.
• Consider a short sale or foreclosure property if it is only one of very few in the neighborhood?
• Have a professional home inspector check for problems and evaluate cost of repair.
• Would you prefer to pay a little more for a house in perfect condition, or would you rather buy a house that is in need of some repair in order to pay less for the home?
• How much renovation are you willing to do? Are you handy with tools and will be doing much of the repairs yourself, or would you need a contactor? Contactor fees would add to the costs which would impact your home buying budgetary expenses.
• Before making a commitment on a particular piece of property, Investigate the noise factor and other aspects of the neighborhood for conditions that may or may not be a source of discomfort or annoyance by driving through the area at different times of the day and evening, during the week and on a weekend.
• Large yard for the weekend gardener, romping room for the family dog, etc., or smaller yard for less maintenance.
• Pool
• Patio Deck
• Two or three car garage
• View
• If the community is governed by a Home Owners Association (HOA) find out if the rules and regulations are compatible with your lifestyle and freedom of choice
• Gated community with entry password security system, or gated with 24/7 on duty security guards

Let your Las Vegas Real Estate Agent know of any other special features or needs that your family may require.

If you are interested in purchasing a home in Las Vegas and have any questions about theLas Vegas Market or would like to set up a time to view properties, feel free to give us a call at 702.376.0088 or fill out the form below or to the right.

No doubt, every investor in Las Vegas residential real estate is looking for the best of all deals; buy low and sell high properties. Obviously, most of the best deals will be found in distressed properties and motivated sellers.

There are many ways to locate these kinds of properties. Try the classified ads in your local newspaper, specialized publications, etc. Look at For Sale by Owner (FSBO) ads, pre-foreclosures, which would be listed under notices of default, foreclosures, (trustee sales,) and auction notices, (tax sale properties.)

Check public records at the county courthouse, where you can find leads through divorce records, real estate auctions, default notices, and probate properties.

Comprehensive internet property finding services can be a very time-saving and efficient way of locating the kinds of investments that best meet your criteria. Paying a monthly fee to these services can be a cost-effective way of finding properties. The web lists any number of these sites, so check them out and find the ones that best meet your needs.

Distressed properties such as pre-foreclosures, Tax sales, short sales, REO’s, probate, foreclosure and divorce properties are where you are most likely to find the hottest deals.

Check with lenders to find the agents who are handling their REOs, and/or www.reonetwork.com to locate bank owned real estate.

You , and the Realtor you work with, should maintain frequent contacts with bankruptcy, divorce  probate, and general real estate attorneys who can be excellent sources of information and leads to hot deals.

Properties up for auction can be located through various websites such as Realty Bid (www.realtybid.com) and Williams & Williams (www.williamsauction.com) among several others.

The Housing and Urban Development agency (HUD) is another source of finding distressed properties. Sign on to this website as an investor and you can bid on their listings.

Try the Veterans Administration (VA) listings as well. The county real estate tax authority, the Treasury Department, the Internal Revenue Service, and the FDIC (Federal Deposit Insurance Corporation) are additional resources that can be more than useful in uncovering distressed properties.

The United States Marshals Service is charged with the responsibility of disposing of seized properties, and can be another possible source of finding low-priced homes.

There are many methods and sources of locating Las Vegas Distressed Properties and hot deals, including even driving around neighborhoods to locate properties, although that is not the most efficient method of finding good deals.

Certainly, do not forget that your real estate agent is a most valuable source of information as well, and can keep you updated on properties of interest. Your agent’s broker and attorney contacts, as well as interaction with other Realtors will provide you with a constant update of relevant data.

If you have any questions about distressed properties in Las Vegas Real Estate, feel free to give us a call at 702.376.0088.