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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.
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 us 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.
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!
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