Las Vegas, North Las Vegas, Henderson and Boulder City Real Estate News

Finding the right Las Vegas Property Manager could mean the difference in your property being rented and maintained or sitting vacant and costing you money.  Even though most property management companies in Las Vegas offer the same services, not all companies follow through with their services.  I get several calls a week from real estate investors stating their property managers aren’t providing monthly accounting statements, rent money isn’t arriving on time or at all and there is no communication.  This is why our clients have access to their account via a link to our property management software, we automatically deposit all rent monies by the 10th of the month and we always keep our clients updated on the status of their property. [click to continue…]

{ 2 comments }

1. The housing market won’t be quite as newsworthy

You will be able to listen or read the news and not hear words like ‘foreclosure’, ‘bailouts’ or ‘housing bottom’.

2. Balanced market

Real estate prices are derived by supply and demand. If the demand is high and supplies are low prices rise. If supplies are high and demand is low prices drop. Your market will bottom out when inventories have dropped to and there is a greater balance between supply and demand. The real estate industry says that 6-7 months represents a balanced market. [click to continue…]

{ 1 comment }

Recently, I was very pleasantly surprised to receive a call from Countrywide (now known as Bank of America since the acquisition) regarding one of my Las Vegas Short Sale files. Usually, the communications goes in one direction, with me doing all the calling. The bank negotiator needed some updated information on the file, namely, a 2008 tax return and an updated worksheet detailing the monthly financial obligations of the sellers.  The negotiator gave me a deadline of 6 days to get her the information. [click to continue…]

{ 1 comment }

I have been doing short sales in Las Vegas for over a year and a half and I heard something in my office the other day that I never heard before.  My partner was on the phone with a Las Vegas Real Estate Agent who was inquiring about one of our short sale listings, before my partner hung up, he advised the real estate agent that he needed to provide his highest and best offer.  When he hung up, we sat there and chuckled!  That is the first time I have heard a real estate agent in Las Vegas ask for a Highest and Best offer on a short sale.  Usually we only hear that when it comes to bank owned properties but not short sales!  What does this mean, could we expect to see more multiple offer situations on short sales? [click to continue…]

{ 0 comments }

Is it necessary to hang your Las Vegas Real Estate License with a franchise company like a Century 21?  I thought so.  When I got into the business back in 2001, I hung my license with a Century 21 franchise in Henderson, Nevada.  I really didn’t realize the cost of doing business at a franchise like Century 21 until I received my first check from a closing.  I knew I was on a 50/50 split because I was new but they took an additional 6% for the franchise fee.  How is that a 50/50 split?  After a few more closings, I sat down and looked at my options.  Was I really receiving a benefit hanging my license at a franchise like Century 21?  Was it really worth 6% on every transaction I closed just to hang my license at a brand name real estate company? [click to continue…]

{ 0 comments }

A new law was just passed by Congress and signed by President Obama that will protect Rental Tenants from being evicted when the home they are renting forecloses.  With so many homes in the Las Vegas Real Estate Market foreclosing, it’s difficult to know if the home you are renting could be next.  Many times, renters don’t even know the home foreclosed until they get a knock on the door from the Constable informing them they have to vacate the property.  This new law, “Helping Families Save Their Homes Act of 2009” will give renters an ample amount of time to get their affairs in order and locate a new home for their family. [click to continue…]

{ 1 comment }

Call me crazy but I don’t understand why there aren’t any lending programs for Foreign Investors.  Right now in Las Vegas, home prices are at historic lows and it’s drawing the interest of real estate investors from all over the world.  I get numerous emails and phone calls every day from people outside the United States inquiring about Las Vegas Home prices and the process of buying a home in Las Vegas.  Unfortunately, I have to inform them that if they don’t have cash for the entire purchase, they won’t be buying an investment property in Las Vegas. [click to continue…]

{ 2 comments }

Anyone that is following the Las Vegas Real Estate Market is aware that home prices are at historic lows. Due to the fact that Las Vegas has been leading the nation in foreclosures, Banks and Lenders have been placing homes on the market far below market value which is driving down home prices. Even though many Las Vegas Homes are selling above list price, the fact they are priced so low is still causing home values to fall.  This trend could continue as foreclosures are still prevalent in the Las Vegas Valley. [click to continue…]

{ 0 comments }

I am sure you hear many Las Vegas Real Estate Agents calling themselves a Short Sale Specialist.  Short Sales have become very prevalent in the Las Vegas Real Estate Market as many homeowners now owe more than their home is worth.  With the rapid decrease in home values, Las Vegas Real Estate Agents are trying to capitalize on this niche by calling themselves a Short Sale Specialist.  So what makes a real estate agent a short sale specialist?  Is it a few successful short sale transactions or maybe listing a few short sales?

Unfortunately that’s not the case.  Short Sales require a real estate agent that is experienced in marketing the home, obtaining an offer at or near market value, negotiating with the lender or lenders on the sellers behalf, coordinating with other lien holders and at the same time, keeping the buyer’s agent informed so their buyer doesn’t walk away due to the length of the transaction.  Some might say it isn’t necessary to obtain an offer at market value but if you are representing the seller, it is definitely in their best interest to get the highest offer possible.  This could be the difference in the Lender requiring the seller to hold an unsecured note or not. [click to continue…]

{ 1 comment }