LAS VEGAS, NV – As if Las Vegas’ economy – and as a by-product, it’s real estate market – wasn’t beefing up its already impressive profile, Amazon.com, the nation’s largest online retailer, is currently in the process of constructing a massive warehouse in North Las Vegas to be used as a regional fulfillment center for the countless orders placed via their website on a daily basis. Amazon’s warehouse, one of over 75 Amazon currently has across the country, will ring in at an impressive 800,000 square feet, and is being erected near Lamb Boulevard and Tropical Parkway. The facility is…
LAS VEGAS, NEVADA – For the third time in 35 years, the Oakland Raiders have decided to pack their bags and move to greener pastures; this time, calling Las Vegas, Nevada home, possibly within the next two years or less, and the arrival of the popular National Football League team – an addition to a brand-new 65,000 seat state-of-the-art stadium for them to call home – is bound to have a distinct impact upon the Southern Nevada area. In late January 2016, billionaire Sheldon Adelson, president and CEO of the Las Vegas Sands Corporation, proposed a new domed stadium in…
There has been a lot of public discussion whether the new Homeowners Bill of Rights (Nevada Law SB 321) will open up short sale transactions that are not considered “arms-length transactions”. The term “arm’s length” means that a sale does not occur between principals who are close relatives, those with existing business relationships, straw-buyers etc. The theory is that the buyer and seller do not have other incentives influencing the transaction. An example would be sellers in a Las Vegas short sale selling to their parents in order to buy the home at a later time. Under this scenario, the…
There are many different reasons why people downsize – they retire, get divorced, become empty nesters or are just tired of paying for (and maintaining) a larger home. But before you move from your 5,000 square foot Las Vegas home to a bungalow, you should… …remember location, location, location. Even though your kids don’t live at home anymore, the proximity of your local school (and how well it’s ranked) will influence your property value. Remember, schools (with good test scores), taxes, public transportation, highways and shopping all impact the value of your home. …keep all costs in mind. Costs to…
Nevada Law AB373 Aimed at Homeowners Who Damage Homes Prior to Foreclosure/Short Sale The Nevada Legislature has taken steps against homeowners who deliberately damage their home prior to vacating the property during the period when the property is in default by criminalizing such behavior. After October 1, 2011 it will be a misdemeanor according to AB373. Persons can be subject to arrest and subsequent prosecution. Owners may think they are getting back at the banks by taking this action but all they really do is hurt others. The banks are doing just fine. Who is really affected are the neighbors…
A VA loan is often a better option than a convention mortgage for veteran and active duty military home buyers who are interested in purchasing a Las Vegas home.
The good news is that according to recent changes in FHA Financing Guidelines as of March, 2011, Las Vegas home buyers who are as little as one day out of a short sale on a previous property may qualify for a new mortgage.
Las Vegas Area Crime Statistics Crime and safety are important considerations when choosing where to live. Below is an overview of crime trends and safety comparisons across the Las Vegas area, including major cities and communities. Las Vegas Area Crime Comparison (Recent Trends) Area Violent Crime Rate Property Crime Rate Overall Safety Las Vegas Moderate High Moderate North Las Vegas Moderate-High High Moderate Henderson Low Moderate High Summerlin Area Low Low-Moderate High Boulder City Very Low Low Very High Note: Crime levels are general comparisons based on publicly available data and may vary by neighborhood and reporting period. Las Vegas…
Since mortgage rates can change several times a day, the following questions will help determine whether or not your lender truly knows what to look for so that they can provide you with the best rate once you’re in a position of locking in your loan:
Seller Strategies When a Las Vegas listing agent and a client talk strategy, there is one question the agent does not have to ask his/her client: “what are your priorities?” And the reason the agent doesn’t have to ask is because the answer is already known: “Sell my house quickly and at the highest possible price!” In today’s market that is a tall order, even if the house is exceptional and the pricing attractive, although a property such as just described would certainly sell quicker than most. But the more houses on the market the more hesitation enters a buyer’s mind,…
Property “flipping” earned a bad reputation is some areas such as Las Vegas, when speculators descended on the Valley a few short years ago, and bought houses at prevailing rates and immediately resold for much higher prices as the demand for housing remained strong. The practice soon resulted in the rapid escalation of residential housing market prices, sending them soaring sky-high. However, there is nothing wrong or illegal about flipping, except in fraudulent cases, when an unethical flipper in collusion with an equally unethical appraiser conspires to artificially inflate the market value of a property. When the flipping market was…
Although the market value of a property is largely determined by the comparison between similar properties in a given area, the value of a home is, in the long run, determined only by what a buyer is willing to pay. This means that, if a seller asks $300,000 for his/her home, but the best offer received is for less than that, then the value of the home is actually less then $300,000, regardless of the studies that were done to establish the home’s fair market value at $300,000. There are a number of factors that can influence a buyer to…
