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Month: October 2008

Las Vegas Named One of Five “Mega-Politan” Areas

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!

Selecting a Las Vegas Property Management Firm

It’s very important that you do your homework when selecting a Las Vegas Property Management Firm to manage your investment property.  Your property manager is responsible for maximizing your cash flow on income producing properties, minimizing vacancies, maintenance, proper tenant screening and so much more!

Here area few questions you should ask a prospective Property Manager to help assist you in choosing a Las Vegas Property Management Firm:

  • How long have you been in business?
  • Are you familiar with the landlord/tenant laws in Nevada?
  • How will we communicate?
  • How will you market my home?
  • How do you qualify a tenant?
  • Do you provide accounting?
  • How do you handle the repairs and maintenance?
  • What are your fees?

The above questions should give you some insight about the property management company that can assist you in your decision on which Las Vegas Property Management Firm will best manage your Las Vegas Investment Property.

Before you make your decision, make sure you give us a call and we will gladly answer the above questions!  We can be reached at 702.376.7379.

Las Vegas Sellers, Do You Really Want to Sell Your Home?

This past weekend I spent some time with a couple that just got married and are looking to purchase their first home.  They both have really good credit, high paying jobs and can afford a size-able down payment.  They have been approved for a FHA Loan Amount not to exceed $250K.  Even though they can afford a loan balance of $250K, they prefer to stay around the $175K price range.  Very smart,

A few of the Las Vegas Homes they picked out to see were short sales and required I call to confirm with the seller to make sure we could see the property.  All together there were 5 properties that were occupied and required I called.  So following the request of the listing agent, I called all 5 properties well in advance of the times that we wanted to view the homes.  Out of the 5 properties, all but 1 of them gave me grief about the time we wanted to view the property.  I politely said to the sellers, I have a qualified buyer that wants to view your home today at this time, if you can’t work it in your schedule, I appreciate your time but I will not have my buyer work around your schedule and come back another day that is more convenient for you!  I mean come on, do you really want to sell your home?

We ended up seeing 3 of the 5 properties that were occuppied.  The other 2 would not let us see it at the times we were in the area?  I surmised that they really didn’t want to sell their home!

A piece of advice to sellers, we are in a buyer’s market, you have to be a little flexible when it comes to selling your Las Vegas Home. If your home is priced right, you are going to have buyers that want to see your home at different times throughout the day and if you really want to sell it, you are going to have to allow these buyers to view your home.

Foreign Nationals Investing in Las Vegas

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. Read More