Las Vegas Real Estate News

I have the highest regard for most of my fellow Realtors. They are some of the hardest working (and most under-appreciated) people I know. But I have a real problem when a Realtor’s greed gets in the way of the client’s best interest. Those are the agents that give the rest of us a bad name.

I got a call a couple of days ago from a Michael in Miami. His client had seen a listing on my site, and he asked Michael to check into it for him as Michael had been his agent in Miami on other transactions. But Michael wanted the selling agent’s complete commission, not just a referral fee. He said he had an agent that worked with him who was also licensed in Nevada. I asked Michael if the agent was part of our Las Vegas MLS – no, the agent was just a Nevada…
1,996 Views, 0 Comments

Who says you can’t buy brand new homes in Las Vegas under $70 per foot?! We get inquiries all the time from investors who are looking to purchase “fixer uppers” in this price per foot range. True, you can get more slightly square footage for a slightly lower price on resale homes that need some cosmetic help, but once you put the pencil to the paper, new homes can turn out to be a better value.

For example, take a typical 1000 square foot home for sale (built since the year 2000 to compare apples to apples) that just needs carpet, paint, and other minor TLC priced at $50 per foot. (Usually the landscaping on even cosmetic fixers is also dead, but since you have to put in landscaping on a new home, we will call that a draw.) Generally speaking, it will cost…
1,787 Views, 0 Comments

Prospective owner occupants need to hurry up and buy Las Vegas real estate before FHA loan limits decrease! The Department of Housing and Urban Development has revised its FHA loan limits for counties across the United States based on the most recent average sales prices, and as of October 1, 2011, Clark County Nevada limits will be lowered substantially.

Currently, owner occupant Las Vegas home buyers are able to purchase a single family residence up to $400k using FHA financing in Clark County with a 3.5% down payment. Or they can buy an owner occupied four plex up to $769,250, again with a 3.5% down payment. But for loans closed after October 1, 2011 the new limits will be CONSIDERABLY lower, decreasing to $287,500 for a single family residence or…
1,797 Views, 0 Comments

You hear all the time about angry ex-employees trashing a company’s computers or stealing their client files. Usually it is not just the employer that is harmed, but staff and customers as well. It’s sad to think that one disgruntled person could thoughtlessly hurt so many others in retaliation, but that’s just what happened this week at one local Las Vegas company.

For purposes of this article we will call our executive “Tom.” Tom was the president of the residential loan division of a local Las Vegas mortgage lender. Mortgage brokers typically have lines of credit that they use to fund their home loans prior to selling them to the end investor. A principal or officer of the brokerage is usually the designated beneficiary of the loan funds from the credit…
1,595 Views, 0 Comments

Because of the great prices and lower association fees than most high rises, only about 50 units are left in this 41 story Las Vegas luxury condo development located on the North end of the Las Vegas Strip. Plus the developers of Allure Las Vegas have made further price reductions to move the remaining inventory quickly!

"We are excited to continue to provide great value to investors and people looking to make Allure their home," said John Tippins, president and broker of Northcap, the sales and marketing management company for Allure. "I believe that the Las Vegas community recognizes the value of the building. The fact that the building is 90 percent sold out and the outlook that there will be no new competition of this magnitude within the next few…
1,872 Views, 0 Comments

As Realtors we are programmed to go the extra mile for our customers. It’s all about providing superior service, right? And Las Vegas real estate is super competitive, so you really have to step up your game. Over the years I have scrubbed toilets, cleaned ovens, babysat for pets, helped clients find jobs, and in a couple of instances even let them move into my own home for up to a month when an escrow was delayed.

But sometimes you just have to say “no” to a client, as one Realtor found out the hard way. Below is a true story of the Las Vegas real estate agent who went too far trying to please a client.

“Poindexter” had cash buyers in town that were on a mission to purchase several Las Vegas investment properties. They had already predefined a

1,636 Views, 0 Comments

Is now the time to buy a luxury vacation home or primary residence? According to the Wall Street Journal – YES!
As per the WSJ: “The clouds hanging over upscale vacation-home markets are starting to lift. While prices are still falling in most regions, the luxury segment is picking up, and brokers are reporting more inquiries than they have had in years.
The upshot: If you have the money and plan on staying put for the long term, now may be a good time to buy.”
Luxury real estate in Las Vegas is no exception. Prices are at an all time low – 40% to 60% less than what they were a mere 5 years ago. But demand is up as affluent buyers are in the market again, and the bargains are priced for every budget.
Excuse #1
Enjoy true luxury living in the gorgeous guard…
1,815 Views, 0 Comments

Yes, it actually DOES look like Bank of America is finally getting their act together in the Las Vegas real estate market on short sales! We have seen a marked improvement in service and approval times over the past six months, and just recently B of A has rolled out two new changes to improve their image.
The first big change is their new Bank of America Cooperative Short Sale program, similar to the government's HAFA program (but hopefully much more effective!) B of A is now allowing sellers to apply for a pre-approved short sale prior to listing their home with a real estate agent and without a purchase contract. The seller must complete all the short sale documents including their hardship letter, and must submit all their current financials to the…
1,511 Views, 0 Comments

Have a Question?

Contact Us

Follow Us