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Las Vegas Real Estate News

Berkshire Hathaway HomeServices - Las Vegas, NV Real EstateEvery year in March, Prudential Americana hosts a huge awards ceremony blowout to honor the outstanding agents in the company. There is a lavish breakfast, the mimosas flow freely, and our affiliated Home Benefits vendors display their wares and have the agents draw for prizes ranging from gift cards to rounds of golf.   

But today when we entered the ballroom at the Encore, instead of “Pru Blue,” the entire ballroom was decorated in shades of burgundy and cream. And Mark Stark, owner of our company, made the much anticipated announcement official: as of April 29th, we will become part of the Berkshire Hathaway HomeServices family owned by Warren Buffet!

Our sales executives, even the old-timers that have been with Prudential since the beginning, all

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The latest statistics are in: with interest rates hovering around 4.5% for a 30-year fixed rate mortgage, buying is 38% cheaper than renting as a national average, down from being 44% cheaper one year ago.

For example, if your rent is currently $1200 per month and you purchase a $175k home with a 3.5% down payment at a 4.5% interest rate, you would save approximately $8200 per year if home prices appreciated a modest 4% per year, or almost $50k savings over 6 years. Check out this cool buy vs rent calculator that will tell you exactly which option would benefit YOU most! Click Here

Buying a Home is Cheaper than Renting in Las Vegas

The margin between buying and renting narrowed during the past year due to rising prices around the country. But even though the gap has narrowed, this is still great

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Danica Patrick NASCAR 2014 Las VegasVRRROOOOMMMMM.... One of our most experienced real estate agents, Debra Leatham, is also a HUGE racing fan, and every March she camps out over several days at the big NASCAR event in Las Vegas. (Debra and her husband Jim are also avid Corvette enthusiasts, and he built a separate 4 car garage just for his "babies" that rivals anything in the NASCAR pits.) Over 100,000 other racing enthusiasts will also be in attendance, coming from all parts of the world for what is considered NASCAR's best annual competition.

Below is an email Debra sent me yesterday as she got ready for the day's races:

"We headed out on Tuesday with our RV to set up in the Turn1 RV lot.  It is a reserved, dry camping spot and next to the race track.  We have had a spot infield

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Las Vegas Luxury Homes for SaleWhile the average sales price in Las Vegas rose over 30% in 2013, the median price for homes over $1 million was virtually unchanged last year and remained stable at $1.4 million. Surprisingly enough, though, the volume of closed transactions for Las Vegas luxury homes priced at over $1M almost doubled from 2012. Buyers from pricier markets in California and New York took advantage of the situation, and the number of sales in 2013 spiked to 342.

Most of these luxury home sales were located in the newer upscale guard gated communities. These developments were built during the boom years between 2003 and 2006. Luxury homeowners were reluctant to sell during the subsequent bust of 2007 through 2011, but are now coming to the market after waiting out the

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Mortgage Debt Relief Act ExtensionAccording 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 Congress will

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New Homes for Sale - Henderson NevadaAre you interested in purchasing a brand new home in Henderson?  If so, there is a small new home community opening, and they are releasing their first phase of elevated home-sites next week.

This boutique community, Horizon Terrace, is located in Henderson foothills off of Horizon Ridge and Gibson.  The exclusive neighborhood consists of 45 two story homes which show case views and larger lots.  The neighborhood is close to established schools, several parks and trails, St Rose medical facilities, Galleria Mall, The District at Green Valley shopping centers, Sunset and Green Valley Station resorts, and the Lake Mead National Recreation Area.

Floor plans will range in size from 3122 sf to 3648 sf and feature four or five bedrooms. Prices will start in

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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

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Bark in the Park - Henderson NevadaBark in the Park
March 8, 2014
10:00 AM - 3:00 PM

Join The City of Henderson Parks and Recreation department as they celebrate the 11th anniversary of Bark in the Park. Bark in the Park activities will take place at one of Henderson’s newest parks, Cornerstone Park.  Expect five hours of fun for you and your pet. 

Bark in the Park will include the following activities:

  1. Demonstrations
  2. Vendor booths
  3. Pet adoptions
  4. Fun contests and games
  5. Entertainment
  6. Free admission

Each dog must be accompanied by a guest handler 10 years or older.

Let your dog be your guest of honor at Bark in the Park. Enjoy the day!

Location: Cornerstone Park
Address: 1600 Wigwam Parkway
Contact Name: City of Henderson Parks and Recreation Department
Phone:

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Las Vegas housing is usually known for its glitz and the plethora of beautiful new upscale master planned communities that surround the Valley.

Brendan Duffy, Las Vegas Elvis impersonatorBut at the heart of Las Vegas beats a very different type of lifestyle that is truly "Vintage Vegas." These are the neighborhoods that were home to mobsters like Bugsy Siegel, divas of the stage like Diana Ross, casino magnates like Sheldon Adelson, and uniquely Vegas show biz personalities like Liberace, Ellvis and Wayne Newton. In these areas you can find everything from pink bathroom tiles and coffered copper ceilings to running lights around platform beds.

Downtown is home to many of Las Vegas' most  charming older streets. Along St. Louis and in the Huntridge district you can find many cozy bungalows

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Mortgage Closing CostsIf you have been thinking about buying a home in Las Vegas in the next five weeks, Fannie Mae might pay 3.5% of your closing costs!

This spring, in an effort to move some of the foreclosure inventory in its portfolio quickly, Fannie Mae is offering a special closing cost incentive for owner/occupants who go to contract by March 31st, 2014 and close by May 31st, 2014 on one of its HomePath properties. They will pay 3.5% of the sales price as a cash incentive on listings that are purchased during the "First Look" period. 

The "First Look" period is defined as the first 30 days the property is listed for sale in Nevada. (In other states it is only 20 days.) To encourage home ownership, during that time period ONLY owner/occupants are allowed to bid on

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