Read about just listed condo deals and new developments around the Las Vegas Valley.
There are currently 33 blog entries related to this category.
Wednesday, March 5th, 2014 at 3:21pm. 229 Views, 0 Comments.
According to Mark Stark, owner of Prudential Americana LLC (one of the largest Prudential franchisees in the country), the Las Vegas real estate market has made a full return to traditional sales. In February 2014, bank foreclosures and short sales combined only made up a meager 14% of total closed transactions.
This is due in large part to the failure of Congress to extend the Mortgage Debt Relief Act at the end of 2014. This Act allowed short sale homeowners to avoid paying taxes on the unpaid balance of their loan when they sold for less than what was owed. Instead, these potential sellers are opting to stay in their homes and make the payments rather than be faced with one huge tax bill.
And, though it is possible (anticipated?) that…
Monday, March 3rd, 2014 at 3:17pm. 238 Views, 0 Comments.
They say that a picture is worth a 1000 words – in real estate, that can be a good thing or a bad thing. Even keeping in mind that real estate agents are not professional photographers, over the years we have seen some real doozies posted on the Internet! Those are the ones that are certainly not going to sell the house, but they will leave a lasting impression on the viewer.
I was reminded of that again today when I came across the site, HookedOnHouses.com. (This is now one of my favorite sites!) In addition to a wonderful section on celebrity homes, they have a collection of some truly awesome BAD listing photos that make your jaw drop and leave you shaking your head.
Make sure to check them out…
Tuesday, January 28th, 2014 at 9:33am. 839 Views, 1 Comments.
Colorado recently changed their state laws to allow residents to legally grow their own marijuana for personal recreational use. And now one enterprising Colorado real estate firm is taking advantage of the laws to form a new specialty - marijuana real estate.
Talk about going green! I just noticed a post from a Colorado web site, MarijuanaRealEstateColorado.com, which is touting their expertise in the alternative field (no pun intended!) of marijuana real estate. They help clients find suitable homes and assist them through the process of converting the property to a legal grow house.
The home page of the site advertises:"How would you like to cultivate your own personal grow from the convenience of your home while doing it 100%…
Monday, December 16th, 2013 at 10:45am. 766 Views, 0 Comments.
Is there really a shadow inventory in the Las Vegas real estate market? If so, when will these properties be released to the market? What will happen to prices when/if it happens?
As real estate agents, these are questions we are asked almost every day, and a number of buyers have stated they are waiting until prices "go back down" before purchasing.
But will prices go down? Prices skyrocketed during the boom and then plummeted below pre-boom levels during the recession. Las Vegas has seen appreciation of 30% over the past year due to low inventory, but we are not quite yet back to pre-boom pricing yet., and experts feel that prices will continue to rise slowly until they reach this level again. (Before the boom, the prices of homes for sale…
Sunday, December 8th, 2013 at 4:27pm. 2578 Views, 2 Comments.
Urgent FHA Bulletin!
On Friday December 6th HUD announced the new FHA loan limits for 2014 (Mortgagee Letter 2013-43) across the nation. For Clark County, the current single family loan limit of $400,000 has been reduced by more than 28% to $287,500 effective January 1, 2014.
This move is not unexpected - the FHA loan limits have not been changed since the "boom" years. Usually FHA prices its loans to the median of the local market. The only thing surprising is that they waited this long to decrease the limits in Las Vegas.
But if you are a buyer that has been looking at homes for sale in Las Vegas or Henderson in the $300K-$400K range and you were expecting to make only a 3.5% down payment, you need to decide on a property and make your…
Sunday, December 1st, 2013 at 2:39am. 2054 Views, 0 Comments.
Savvy buyers know: the month of the December is THE very best time of the year to pick up deals on real estate in Las Vegas!
Most markets across the United States have a much longer "slow" season for real estate purchases. In the southern sunbelt, which is traditionally snowbird country, the summer months are the best time to pick up a bargain. In the north, once the winter season starts, home shoppers go dormant until the spring.
And all markets around the country see a particularly significant slowdown in the weeks between Thanksgiving and Christmas. Most people are too busy with holiday parties and shopping to give serious thought to buying a home. But in Las Vegas, which has a steady market pretty much all year round, that's the only…
Thursday, October 24th, 2013 at 10:13am. 1792 Views, 0 Comments.
Salestraq, which provides our local database for new home sales and floor plans, also provides some excellent, easily understandable reports on current real estate market trends in Las Vegas. Below is the latest report that was released with the pertinent sales statistics through the end of August 2013. Since then, the market has remained relatively stable and no major changes are anticipated through the end of the year.
Salestraq Report on Recent Market Activity
THE BOTTOM LINE... The housing market remains a hot topic for those who analyze the Las Vegas economy and are keeping a close eye on its pace of recovery. Nevada has gone from the fastest appreciating housing market in the United States, to the fastest depreciating market in the…
Wednesday, August 28th, 2013 at 11:49pm. 3651 Views, 0 Comments.
Saturday, August 24th, 2013 at 2:46pm. 3353 Views, 0 Comments.
Shortsale? Foreclosure? Bankruptcy? You may NOT have to wait 3 years or more to buy your next home under the new HUD “Back to Work” initiative announced August 15th. If you qualify for the program, you may already be able to purchase a home as an owner/occupant with an FHA loan.
Eligible borrowers would be those who experienced a “significant loss of income due to circumstances beyond the borrower’s control” which in turn triggered an “economic event” that impacted their financial status.
An “economic event” is defined as one of the following:
- Short sale
- Deed-in-lieu of foreclosure
- Chapter 7 bankruptcy
- Chapter 13 bankruptcy
- Loan modification
- Forbearance agreement
Tuesday, May 14th, 2013 at 5:17am. 2111 Views, 0 Comments.
As the old saying goes, the early bird gets the worm. But if you are a consumer using one of the national real estate sites like Zillow, Trulia, Homes.com, Redfin or Realtor.com to find a home, not only are you missing out on a gourmet breakfast, you are actually paying through the nose to go hungry!
As agents, we get requests all the time to "check out" properties that prospective clients have found on one or all of the sites above. They have just spent hours upon hours perusing the web looking for the right deal.
What the average buyer fails to realize is that these 3rd party national sites only get updated every five to seven days!
This means that even in a "buyer's market," by the time the best deals are listed on the…