Category Archive : Real Estate

Christmas is only a few weeks away and home sales have slowed down a bit in Las Vegas as it usually does every year around this time.  Most people are spending time getting ready for the holidays and buying a home is not on the top of their list of things to do.  Getting presents for Bobby and Susy is at the top of their list.

With home prices in Las Vegas at levels we haven’t seen since 2003 and 2004, with so many bank owned homes for sale and interest rates at historic lows, a new home should be at the top of your Christmas List!  Homes on the market for sale have dropped over the last year and will probably continue to decrease which will inevitably cause prices to level off over the next 18 months, so don’t wait and pass up the opportunity to buy a home in Las Vegas below market value!

If you have any questions about the Las Vegas Real Estate Market or would like us to send you properties for sale in the Las Vegas Valley based on your criteria, contact us at 702.376.0088.

Ok, you have been researching Las Vegas short sales on Google, Suze Orman, talking with friends etc. You know that you may have a way out of a dreadful situation and avoid foreclosure. You know you need to take action, but can you? Yes you can! Many people never get past the research phase because they are afraid to reach out and seek the help they need.

First, talk to your tax professional. If you don’t have one, get one! You need to know the ramifications of doing a short sale. You must get the facts on what potential tax liabilities you might owe and what strategies your tax professional can suggest to mitigate any tax burden.

For those of us who live in “deficiency” States such as Nevada where I live, you need to know if a lender can obtain a judgment against you for any portion of the debt that is lost during a short sale by a lender. Recent bills passed by Congress have made it much easier for homeowners doing short sales to avoid deficiencies.

Hire a Las Vegas Realtor who specializes or at the least has significant experience in short sales. The days of hiring Aunt Sallie or your girlfriend’s brother to be your Realtor because you want to do them a favor or because you’ll feel guilty at the next Thanksgiving Day dinner if you don’t, have been suspended during this horrible market for sellers. You need a professional who will know how to deal with the bank bureaucracies as well as run the real estate portion of a short sale.

Remember your Realtor has four phases to manage:

1. List the property.
2. Negotiate the settlement on your behalf with your bank(s).
3. Manage the offers and negotiate with potential buyers.
4. Manage a good portion of the escrow as there will be heavy coordination between the bank, the listing agent and title. If you’re a buyer’s agent, encourage your buyer to let the listing agent choose title, as they are the ones that have most of the information related to the transaction and are performing the negotiations with the bank.

Remember sellers, the key to moving on beyond your own research is seeking professionals who can help you. They have facts and experience necessary to guide you to your ultimate goal of a successful short sale.

You can contact us at 702.376.0088 to set up a free consultation and we can discuss the short sale process.

If you have made the decision to sell your Las Vegas Home after looking at all other options such as Loan Modification than the next step is finding an experienced agent specializing in short sales.  Short Sales require a real estate agent to not only list your home, market your home but negotiate on your behalf with your lenders to accept an offer for less than you owe on your mortgage. If you have a 1st Mortgage and a 2nd Mortgage it can be even more of a challenge, which is why your real estate agent needs to specialize in short sales.

When you interview perspective agents, make sure you ask them how many short sales they have sold in the last 6 months and how many where they actually represented the seller. There is a difference in selling a short sale when you represent the buyer as opposed to representing the seller.  Make sure you ask them what you can expect during the process and what they will do to ensure you get your home sold.

You can contact us at 702.376.0088 to set up a free consultation and we can discuss the process of selling your Las Vegas Home.

According to the Greater Las Vegas Association of Realtors, over 30% of homes for sale are Short Sales.  A successful short sale is where the Lender/Bank agrees to take less than what is owed.  The homeowner usually has to show some type of hardship in order to get approved to do a short sale.

A hardship could be the loss of a job, divorce, or job relocation.  Some Lenders/Banks won’t approve a short sale unless the homeowner is at least 1 month behind in payments.

Short Sales are definitely not “short”!  Short Sales usually take anywhere from 90 days to 180 days to get approved.  The reason why most short sales don’t close successfully is because buyers don’t have the patience to wait that long for the transaction to be approved.  There are a few things that can be done by the listing agent to help improve the chances of the short sale getting approved and in less time.

If you are interested in selling your home and you owe more than it is worth, we should talk about doing a short sale.  We can be reached at 702.376.0088 or you can complete our contact form.  Click on the link for more information on Las Vegas Short Sales.

In a brilliantly unique desert setting, Lake Las Vegas spreads out as an ultimate dome of luxury and privacy.

The landscape is fairly inspiring and the desert stretch calls for mute obedience. On the largely untouched side of Henderson Mountain, Lake Las Vegas Real Estate is spread over a colossal 2245 acres of private canyon, some 40 minutes away from the Las Vegas Strip.

Lake Las Vegas is a place one can’t keep boasting about, it is the home to two of the most renowned global chain of hotels; the prestigious Ritz-Carlton and the Hyatt regency. Apart from the unflappable grandness of these hotels, Lake Las Vegas puts on the platter few of the most challenging golf courses; the public one’s for the “mainstreeters” and the private one for the elite. The courses are built in a fashion that it takes the mountain and the lake within its compass.

Jack Nicklaus, the undisputed great of the golfing arena has used his insight to construct Reflection Bay Golf club. Tom Weiskopf’s Falls Golf Club is a piece of sheer delight running through lush tans, erratic mountain slopes and hindering lake. So you have got to work your way up the birdie.

Lake Las Vegas homes area tribute to the Mediterranean concept of house-making. Owing to the reflective natural neighborhoods and the artistic desert settings, the place offers a touch of nomadic with the urban theme. The houses are built with a classical mindset and offers variable patterns.

Many Lake Las Vegas neighborhoods offer the peace of an enclave even while being replete with almost all the amenities modern day has to present. Bella Fiore is highly rated and this reflects in its shooting prices. Manicured greens and green lush fields run alongside the desert setting creating a wide repertoire of nature-based emotions. The homes and ranches are readily available at different altitudes.

Now for the modern side of the neighborhoods; the houses are replete with private Casitas, Master suites, internal courtyards and outdoor fireplaces. Floor plans are distinctive. The carpet area setting enhances from 2822 to 4376 square feet. At $ 700000, the prices are still reasonable, considering the flats mostly have five bedrooms and nearly four and a half baths. The houses have oil-rubbed bronze rubbed hardware and fiberglass doors. The homes include volume ceilings and are effected with fire sprinkler systems. They also have the out-of-convention setting of gourmet kitchens with raised panels and stern countertops. Home networks are complete with ultra speed digital 5 wiring.

If you are interested in a private showing in the Lake Las Vegas area, please contact us 702.376.0088

Las Vegas has been named one of five “mega-politan” areas. These places are considered newly recognized super regions that combine two or more metropolitan areas into a single economic, social, and urban system.

Many experts predict that Las Vegas will continue to grow but will have to come up with solutions for water resources, education and infrastructure.

Las Vegas is already experiencing a construction boom on the Las Vegas Strip.  There are numerous projects under construction but none come close to the massive project on the south end of the Las Vegas Strip called City Center.  Project City Center is a project that consists of condos, hotels, casinos and retail district sitting within a 76 acre area.  You can easily say that Project City Center is a city within a city!

Even though home prices are still dropping in the Las Vegas Valley, you can rest assured that home prices will begin to stabilize very soon.  The reason I say that is because many foreclosures that are placed on the market for sale are receiving multiple offers.  When homes receive multiple offers, it usually means the property is priced below market value.  You can see why Las Vegas real estate is a great investment!

Las Vegas is poised for a strong come back in the years to come!  If you are looking to buy your first home or an investment property, you can’t go wrong with choosing a home in Las Vegas!

This past weekend I spent some time with a couple that just got married and are looking to purchase their first home.  They both have really good credit, high paying jobs and can afford a size-able down payment.  They have been approved for a FHA Loan Amount not to exceed $250K.  Even though they can afford a loan balance of $250K, they prefer to stay around the $175K price range.  Very smart,

A few of the Las Vegas Homes they picked out to see were short sales and required I call to confirm with the seller to make sure we could see the property.  All together there were 5 properties that were occupied and required I called.  So following the request of the listing agent, I called all 5 properties well in advance of the times that we wanted to view the homes.  Out of the 5 properties, all but 1 of them gave me grief about the time we wanted to view the property.  I politely said to the sellers, I have a qualified buyer that wants to view your home today at this time, if you can’t work it in your schedule, I appreciate your time but I will not have my buyer work around your schedule and come back another day that is more convenient for you!  I mean come on, do you really want to sell your home?

We ended up seeing 3 of the 5 properties that were occuppied.  The other 2 would not let us see it at the times we were in the area?  I surmised that they really didn’t want to sell their home!

A piece of advice to sellers, we are in a buyer’s market, you have to be a little flexible when it comes to selling your Las Vegas Home. If your home is priced right, you are going to have buyers that want to see your home at different times throughout the day and if you really want to sell it, you are going to have to allow these buyers to view your home.

We have been seeing a trend of foreign nationals investing in the Las Vegas Real Estate Market.  With the dollar at an all time low, foreclosures at an all time highand Las Vegas Real Estate prices at levels we haven’t seen since 2003-2004, foreign nationals are finding great investment opportunities in Las Vegas.  The majority of the foreign nationals that we have been working with of late are from Canada. Read More

Las Vegas Home prices have dropped throughout 2008 and the trend could continue through the fall and winter. As more and more foreclosures hit the market, banks will continue to offer these homes at prices below market value in an effort to get them off of their books.  So with that in mind, you have to determine if it’s the right time for you to sell your Las Vegas Home.

If you determine the time is right to sell because of divorce, loss of job, job relocation or any other reason, it’s important to understand the Las Vegas Real Estate Market.

Unless you purchased your home before 2003 or put a substantial amount down, it’s unlikely your home has any equity and is most likely worth less than you owe.

This means, you have two options:

1. You can pay the difference that you owe at close of escrow
2. You can attempt to sell your home as a short sale

You have the option of selling your home and paying the difference at close of escrow but that amount could be substantial!  Not only do you have to factor in the difference between the offer amount and what you owe but also have to include real estate commissions, closing costs and taxes.

Selling your home as a short sale is not guaranteed!  A short sale is when your lender agrees to accept an offer for the purchase of your home at a price less than what is currently owed.  A short sale usually requires some type of hardship like divorce, loss of job or job transfer.  A short sale package has to be completed and submitted to your lender for approval and this can take anywhere from 3 weeks to 16 weeks!  Having an experienced Las Vegas Real Estate Agent that specializes in Las Vegas Short Sales is a must if you decide to sell your home as a short sale.

If you can afford to hold off on selling your Las Vegas Home in this market, I highly recommend it!  The Las Vegas Rental Market is doing very well and you have a greater chance of renting your home than selling.  Having an experienced Las Vegas Property Management firm representing you is important.  With so many homeowners losing their home to foreclosure, they are being forced into the rental market.  Completing a credit check is very important to determine the potential credit risk of your tenants.

Obviously your situation will play a key decision on whether you can afford to rent your Las Vegas Home instead of selling it in this real estate market.

Feel free to contact us at 702.376.0088 to discuss your situation.

Facing Foreclosure in Las Vegas?

Are you having a hard time making your payments on your Las Vegas Home because your interest rate adjusted causing your payment to increase hundreds of dollars a month? You’re not alone as many Las Vegas Homeowners are facing the same dilemma. Instead of letting your home foreclose you have a few options.

1. Contact your lender and see if you can adjust your payment.
2. Refinance – New FHA Guidelines allow you to refinance your house up to 90% LTV (loan-to-value) on current market value.
3. Short Sale.

You can contact your lender to see if they will lower you payment but the chances of them lowering it any substantial amount is slim. From what I have heard from my clients, they usually will lower the payment by $100 to $200 a month.

FHA has just updated their guidelines which will take effect on October 1st, 2008.  So if you are interested in this refinance option, you will have to wait till October 1st!

Your best option might be attempting to sell your Las Vegas Home as a short sale. A Short Sale is a special transaction that allows you to sell your home – even when your mortgage debt is higher then the value of your home. Lenders are motivated to approve short payoffs if it makes sense.  The foreclosure process for a lender is very costly, takes a long time, and exposes the property to vandalism, deterioration, and declining market values.

If you have never been late on your payments and have a true financial hardship or compelling reason to sell your home (relocation, loss of job, hospitalization, divorce) the bank will still consider a short sale of your property. YOU DO NOT HAVE TO BE LATE ON YOUR PAYMENTS TO SELL YOUR HOME AS A SHORT SALE!

We will need to present to the bank a short sale package. Most banks request the same documentation, yet there are some that may require their own forms filled out and different actions. We will provide you with a package to fill out complete with a check list of documents needed.

Typically short sales can take anywhere from 45 business days to 120 days to complete from the time the offer is received. Contrary to popular belief, short sales are any thing but short in time. The true name is a short payoff when the lender is taking less than the full balance of the loan.

If you are interested in selling your home as a short sale or have questions about the short sale process, feel free to contact us any time at (702) 376-0088.

Las Vegas living is just as exciting as visiting. If you enjoy living in the fast lane, Las Vegas is the place for you. With any kind of entertainment that you could ask for, this is a great place to call home.  The Las Vegas Strip is not only a place to play but a great place to work.

With many job opportunities in the near future with the opening of Encore, Project City Center and the M Resort to name a few, it’s time to make a move.

Las Vegas Home prices are at lows we haven’t seen since 2003 and 2004, interest rates are still at all time lows and the abundant amount of foreclosures makes this a dream market for any buyer looking to relocate to Las Vegas.

There are homes available of all sizes and in all price ranges, with many luxeries included. These luxeries may include swimming pools, hot tubs, jetted bathtubs, and so much more. If you are looking for a nice place to live, and the perfect climate, Vegas is the hot spot. The community has grown in recent years, and the real estate market will also continue to grow throughout the years.

The District at Green Valley Ranch is quickly becoming one of the hottest spots in the valley to shop, dine, gamble, and even live! With over 40 magnificent stores to choose from, and 15 different restaurants, this charming “Main Street” offers something for everyone!

Conveniently located next to Green Valley Ranch Station Casino, The District at Green Valley Ranch is a favorite among tourists and locals alike.

Along with some of the finest shopping and dining in Nevada, you can also enjoy live music every Friday and Saturday night from 6pm-10pm.

If you like to live where you play, The District at Green Valley Ranch is the place for you.  The lofts start at $300K for a 1 bedroom, 871 square foot unit to $1.4 million for a 3 bedroom, 1747 square foot unit.  Amenities include private underground parking, concierge services, work out facilities, meeting room with kitchen, roof top Jacuzzi and so much more.

For a private showing or for more information, please contact us today at 702.376.0088