September 2016

Save Your Cash for Christmas!

Been looking at homes for sale in Las Vegas, but just don't have any extra cash? If you or someone you know has been struggling to come up with the down payment and closing costs for a mortgage, we have great news. There is a new 1/2% down FHA loan that may be your answer. 

You could literally get into a home with no money at all! This new mortgage loan program is a combination of a 96.5% FHA first mortgage and a 3% second mortgage. The seller is allowed to pay all of the buyer's closing costs, AND the 1/2% down payment can even be gift funds from a relative or close friend. The interest rate is a little higher than the standard FHA loan, but you can have a non occupant co borrower to help you qualify. Basically this

We finally found a reputable lender with low fees and good rates that can do foreign national investor loans AND/OR loans on condo hotels. This is a "make sense" lender that can do portfolio loans outside the box. They have non warrantable condos and condo hotel financing for US citizens with 20% down payment, minimum $100k loan amount.

Below are some of the foreign national loan program highlights:

• Minimum loan amount is $100k up to a maximum of $3M, though sometimes the lender can go higher on a case by case basis
• They can do non warrantable condos or 1+ bedroom condo hotels as long as the condo hotel has a full kitchen
• Down payment of 40% for vacation homes or 45% for investment properties
• 90% financing available with their asset

The Greater Las Vegas Association of Realtors (GLVAR) reported on Thursday that Southern Nevada home sales increased in August despite the local housing supply continued to remain tight, making for a strong "sellers market" with multiple offers on the same property, a common scenario frequently frustrating buyers who don't have an experienced agent representing them.

GLVAR also reported the median price of existing single-family homes sold during August was $235,000, higher by almost 7% percent from one year ago !

GLVAR said the median price of local condominiums and townhomes sold in August was higher by 4.5 percent from $110,000 last year at this time.

According to GLVAR, the total number of existing local homes, condominiums and townhomes sold

School is finally out for the summer, and many families are relocating, both across country and within the same city. But often kids don't want to leave their friends or existing school. If you are relocating to Las Vegas or Henderson, NV , or if you are moving to a new home within Clark County, here are some tips for making the process go a little easier on the whole family.

Get the Kids Involved Searching Online

Kids love to surf the Internet, and if you allow them some extra time online and make the search a family project, they will feel like they are helping to make the decision, which will make them feel better about moving and having some control of their lives.

1. Most families start by looking checking out school zones in Las Vegas.

Now that you have seen the “Strip,” you may wonder if Las Vegas would be a great place to live.  As you start your research, know that the individual tax picture here is one of the lowest of anywhere in the U.S. You have probably seen articles about our great climate with more than 330 sunshine days a year. (That’s more than any place in the “Sunshine State.”) You may have read articles about Henderson, Nevada, being one of the safest cities in America to live. Have you wondered where Henderson is relative to Las Vegas? In real estate articles about the Las Vegas market you may have seen that Summerlin is the writer’s favorite area of Las Vegas for finding a home. Where is Summerlin relative to the famous “Strip,” where you found such exciting amenities

Las Vegas real estate is on the rise and is showing no signs of slowing down. The interest rates within the housing market have kept the city hopping and remaining in full form without ever skipping a beat.

These phenomenal interest rates have been the deciding factor in why so many people are getting themselves into great Las Vegas Homes for sale with spectacular deals. There are even many claims that this may very well be the biggest era of real estate that the region has ever seen.

Moving On Up –Vegas Real Estate Booming!

People who were only able to afford to live in apartments are now able to purchase their very own homes, and those numerous people who could only afford to live in extra small one-bedroom homes can now afford to live in

If you haven't tried getting a mortgage loan in the past five years or so, you will be shocked at how difficult and arduous the process can be these days, for even the best of borrowers with A+ credit. Stringent federal regulation and fear of costly penalties for even the smallest infraction have Las Vegas mortgage lenders on the edge of their chairs, making sure every "i" is dotted and "t" is crossed. Applying for a mortgage is very much like being pregnant and going through labor: It's a painful ordeal that seems to have no end, but once you are settled in your new home, you will gradually forget the pain and know that it was all worth it in the end.

Get Your Documentation Together

The mortgage lender will take an initial application from the

Foreign national mortgages for Las Vegas investment properties are back!

Finally there is once again a company which can finance mortgage loans for foreign nationals that want to buy investment real estate in Las Vegas. The minimum down payment is 50% of the appraised value with a minimum loan amount of $100k, so properties purchased must be $200k or greater to meet program guidelines.  The main program requirements are as follows:

LOAN APPLICATON

1. All foreign properties owned by the borrower must be listed on the Schedule of Real Estate Owned. Verification of mortgage payments, taxes and insurance is required
2. A three year history of residence and job history is required. 

CREDIT REPORT

1. A US credit report is required if

While you’re sweltering in the heat, keep in mind that whether you’re buying or selling a home in Las Vegas, a swimming pool is more than a way to cool down  – it’s also a big factor in home values.  2016 is set to be a record-breaking year when it comes to weather.  According to the National Oceanic and Atmospheric Administration, January through June of this year was the hottest 12 year stretch in the last 136 years!  No wonder more than 38% of Americans include a swimming pool when describing their “dream” home.  Nationally, a recent survey taking into account a home’s size, age, location, etc., found that being able to include a swimming pool in a listing could increase a home’s price anywhere from 8% to as much as 19%!  So, whether it’s a pool to

It's A Buyers Market In Las Vegas

Real estate is one of the most prosperous investment avenues where you can expect your money to grow. The real estate market is supposed to boom in Las Vegas as with each passing day the demand for homes is growing. It is important for you to know the right approach to a buyer’s market so that you can make the most out of it. Before you step into the world of real estate, you must know about some strategies that would help you make the most
profit.

Understand the market

The first thing that you should do is to understand the market. If you are observing any real estate buyers market and notice that all the homes in that market are expensive, then you should look elsewhere. It is a good idea to check out homes