If you read the newspaper or watch the news, it makes you wonder why you would want to buy a home in this real estate market.  All the media has been reporting is that home prices in the Las Vegas Real Estate market are dropping and more homes are being foreclosed on every month.  I won’t deny that’s true but there’s other information that is not being reported that might give you a different perspective on the Las Vegas Real Estate Market.

Las Vegas sales of existing homes and condos are up from the same time over the previous two years. For November, Las Vegas’ existing home sales were 120% higher than the same month in 2007.  The increase in home sales has reduced the standing inventory even with all the new foreclosed homes that are entering the Las Vegas Real Estate Market every month. Available inventory of homes for sale sits at 10.4 months compared to a 24 month supply at the end of 2007.  Homes that are priced below $200K are receiving multiple offers and are selling above list price.

If you are interested in buying a home in Las Vegas, make sure you act now as housing inventory continues to decrease, you can expect prices to stabilize and even begin to rise.

If you have any questions about the Las Vegas Real Estate Market or would like us to send you properties for sale in the Las Vegas Valley, contact us at 702.376.0088 or fill out our contact form.

Today has been a strange day as it has pretty much snowed for about 8 hours straight in the Henderson area.  I measured over 5 inches of snow that accumulated on a table in my backyard and in some parts of Henderson they were reporting 10 inches.  The snow has made for some major traffic problems in the Henderson area.  Numerous roads leading out of Las Vegas to Pahrump and California have been closed due to the road conditions the snow has caused.  It’s expected to get worse as the temperature is expected to drop to 29 degrees causing the slush on the road to freeze making it a nightmare to drive on in the morning.

For the first time in almost 30 years the Clark County School District will be closing school tomorrow calling it a Snow Day!  Can you believe that, a snow day in Las Vegas!

Christmas is only a few weeks away and home sales have slowed down a bit in Las Vegas as it usually does every year around this time.  Most people are spending time getting ready for the holidays and buying a home is not on the top of their list of things to do.  Getting presents for Bobby and Susy is at the top of their list.

With home prices in Las Vegas at levels we haven’t seen since 2003 and 2004, with so many bank owned homes for sale and interest rates at historic lows, a new home should be at the top of your Christmas List!  Homes on the market for sale have dropped over the last year and will probably continue to decrease which will inevitably cause prices to level off over the next 18 months, so don’t wait and pass up the opportunity to buy a home in Las Vegas below market value!

If you have any questions about the Las Vegas Real Estate Market or would like us to send you properties for sale in the Las Vegas Valley based on your criteria, contact us at 702.376.0088 or complete our contact form.

As you might be aware, many real estate companies are closing their doors or filing for bankruptcy as the real estate market has declined over the last year and a half.  Many Las Vegas Real Estate Firms were unable to get through the tough times financially as many of their real estate agents got out of the business.  North American Realty of Nevada is not one of them, we have actually grown during the last year and half due to the dedication of our broker and staff.

North American Realty of Nevada is a real estate firm located in Green Valley and his home to over 120 real estate agents who specialize in residential and commercial real estate throughout the entire Las Vegas Valley.

Sena & Associates with North American Realty of Nevada is one of the top teams and is looking to expand it’s team of agents.  Our team is a leader in the industry in generating real estate business by using Social Media Marketing on the Internet.  With our top rankings Las Vegas Real Estate websites, we are in excellent position to capture market share over the next few years.

If you are interested in interviewing for a position with Sena & Associates, please contact us at 702.376.0088 or complete our contact form on our Las Vegas Real Estate Career page.

If you have made the decision to sell your Las Vegas Home after looking at all other options such as Loan Modification than the next step is finding an experienced agent specializing in short sales.  Short Sales require a real estate agent to not only list your home, market your home but negotiate on your behalf with your lenders to accept an offer for less than you owe on your mortgage.  If you have a 1st Mortgage and a 2nd Mortgage it can be even more of a challenge, which is why your real estate agent needs to specialize in short sales.

When you interview perspective agents, make sure you ask them how many short sales they have sold in the last 6 months and how many where they actually represented the seller!  There is a difference in selling a short sale when you represent the buyer as opposed to representing the seller.  Make sure you ask them what you can expect during the process and what they will do to ensure you get your home sold!

You can contact Sena & Associates at 702.376.0088 to set up a free consultation and we can discuss the process of selling your Las Vegas Home.

Many people in the Las Vegas Valley have lost their home due to foreclosure and have been forced into the rental market.  With the recent changes to FHA lending guidelines, homeowners whose homes were foreclosed on will not be able to purchase a home for 5 years.  So instead of buying a home in Las Vegas within the next few years, they will be forced to rent a home a little longer than they had thought.

Even though you might look at renting a home as a setback, if you look at it from a different aspect, it could actually be just what you needed.  Majority of the time, the rent that you are paying is much less than what your monthly mortgage payment was and you are no longer responsible for paying home owner association fees.  If you add the savings between the two, this extra money can help pay down some other debts that you may have or save the money for a future down payment on a home.

You also don’t have to worry about fixing items that break or are need of repair, just call the property management firm that is representing the homeowner and they will handle it.

If you are in the market for a rental home, feel free to contact us and we can assist you in finding the right rental home in Las Vegas for you!  We can be reached at 702.376.0088 or fill out our Contact Form!

Las Vegas has been named one of five “mega-politan” areas. These places are considered newly recognized super regions that combine two or more metropolitan areas into a single economic, social, and urban system.

Many experts predict that Las Vegas will continue to grow but will have to come up with solutions for water resources, education and infrastructure.  Las Vegas is already experiencing a construction boom on the Las Vegas Strip.  There are numerous projects under construction but none come close to the massive project on the south end of the Las Vegas Strip called City Center.  Project City Center is a project that consists of condos, hotels, casinos and retail district sitting within a 76 acre area.  You can easily say that Project City Center is a city within a city!

Even though home prices are still dropping in the Las Vegas Valley, you can rest assured that home prices will begin to stabilize very soon.  The reason I say that is because many foreclosures that are placed on the market for sale are receiving multiple offers.  When homes receive multiple offers, it usually means the property is priced below market value.  You can see why Las Vegas real estate is a great investment!

Las Vegas is poised for a strong come back in the years to come!  If you are looking to buy your first home or an investment property, you can’t go wrong with choosing a home in Las Vegas!

You are getting ready to list your Las Vegas property on the market and you are just not sure what to fix and what not to fix. Will you get a return on your investment? Does it make sense to make certain home improvements or is it easier to just sell your home in as-is condition?

Many sellers are faced with these questions, yet there is no clear-cut answer. A seller’s market, for example, is usually in a seller’s favor regarding home improvements. Yet in a buyer’s market, when there is a large inventory of homes on the market, your house may be passed over for another one which needs no improvements.

The first thing you can do before embarking on a costly home improvement project is to research other Las Vegas homes and visit them during open houses. If most of the homes in the area have updated kitchens, for example, it may be well worth your while to spruce up your kitchen. And this doesn’t have to mean granite countertops and maple cabinets, either. Often a change of hardware and a fresh coat of the paint on the cabinets can make all the difference.

Most real estate experts will tell you that kitchens and bathrooms offer the highest rate of return, which is true. However, tearing apart your bathroom and completely updating it with a Jacuzzi tub and overhead skylights could cost you thousands of dollars, some of which you may not see again. Scale back any renovation projects and instead opt for a neutral, updated look without the fancy extras.

Some home improvements, however, should always be tended to before listing your home. These include:

• Repairing, patching and painting walls
• Repairing or replacing any broken appliances
• Repairing or replacing the HVAC system
• Repairing leaky faucets
• Replacing old or outdated light fixtures
• Replacing worn carpet or torn linoleum
• Repairing the roof
• Replacing any broken windows

Author Bio:

Visit the VIP Realty website for more information on property marketing in the San Antonio real estate area. There you’ll find buyer and seller service details, information on local communities, details on Alamo Heights real estate, Dallas Condos , and resources on a wide variety of other home styles.

We have been seeing a trend of foreign nationals investing in the Las Vegas Real Estate Market.  With the dollar at an all time low, foreclosures at an all time highand Las Vegas Real Estate prices at levels we haven’t seen since 2003-2004, foreign nationals are finding great investment opportunities in Las Vegas.  The majority of the foreign nationals that we have been working with of late are from Canada.

I was speaking with a Canadian client the other day and it appears that there is alot of media coverage in Canada about the which real estate markets are ripe for investing in the United States and Las Vegas is at the top of the list.

According to Dan Green with “The Mortgage Report,”

Foreign national mortgages are still available in the United States

Downpayment requirements are low — 10 or 20 percent, depending

Interest rates are reasonable and are not “monthly adjusting”

There’s no forbidden property types — condo, condotels, and multi-units are all okay

Even though Dan Green has stated that there are some programs that require as little as 10% down, I haven’t seen or heard of these programs.  The best I have found for any of my clients was 25% down.  But with lender guidelines changing almost daily, I would recommend that you speak with a local Las Vegas Loan Officer like Mark Madsen.

If you are thinking of investing in Las Vegas Real Estate, take advantage of the home prices while you can as we all know, home prices will eventually rise!  You can begin your search for homes for sale in Las Vegas by clicking on the link below:

Las Vegas Homes for Sale

Closing is the last step in any Las Vegas real estate transaction. It is the point when the home is officially transferred from the seller to the buyer.

The buyer chooses a closing agent who will represent the closing and will coordinate all of the documents and disbursement of funds from one party to the other. Both the buyers and the seller’s real estate agents will be present, as well as a representative of the lender and any real estate attorneys.

As the buyer, be prepared to review and sign a large variety of documents related to your loan, and to pay the closing costs. Some of the typical closing costs include:

• Inspection fees
• Pest Inspection fees
• Underwriting fee
• Tax service fee
• Prepayment of taxes
• Attorney’s fees
• Origination fee
• Title insurance
• Appraisal fee
• Credit report fee
• Recording fees
• Interim Interest
• Private Mortgage Insurance payment

As the buyer, you will receive quite a few documents that you’ll need to review and sign at closing. They are as follows:

• HUD-1 Statement - This settlement sheet itemizes the services and lists the charges for both the buyer and the seller. You will likely receive this form in advance so that you can have a good idea of what your closing costs will be.
• Truth-in-Lending Statement - Your lender will have likely given you this document a few days before closing, as it outlines the costs of your loan. It is likely that the APR calculated by the lender will change slightly at closing.
• The Promissory Note - This is a legal document that basically outlines the buyers promise to the pay the lender according to the agreed-upon terms. It will also detail the repercussions should you not pay on the loan as promised.
• The Mortgage - Your mortgage is the legal document that basically gives the lender claim against the property if you default on the loan.
• Seller’s Affidavits - Seller’s affidavits can be numerous and can vary.
• The Deed - The seller will sign the deed. You, the buyer, should receive a copy of the deed at closing.

Author Bio:

Visit the VIP Realty website for more information on property marketing in the Dallas real estate area. There you’ll find buyer and seller service details, information on local communities, details on Dallas Texas Condos & Irving real estate, and resources on a wide variety of other home styles.